The dollar did end up gaining a little ground against the Euro, but the other currencies also ended up being a doji, ending the day close to where it started.
I had a networking breakfast to go to this morning, so I missed the entire New York session. There was some good movement too. There will always be missed opportunities, just like in life. Having said that, the week turned out better than last week when the account grew by 52%!
Today, I did 10 new trades, 8 winners, 0 losses, and 7 open trades. The net pips for the day is +168.8 pips, or 5.43% gain.
For the week, the net pips is +975.3 pips, or 54.83% gain!!!
Here are the daily stats for Friday, August 28, 2009.
| Open | High | Low | Close | Pip Interval |
| GBP/USD | 1.6281 | 1.6379 | 1.6255 | 1.6272 | 124 |
| EUR/USD | 1.4340 | 1.4387 | 1.4280 | 1.4300 | 107 |
| USD/CHF | 1.0594 | 1.0617 | 1.0539 | 1.0595 | 78 |
| USD/JPY | 93.51 | 94.05 | 93.41 | 93.62 | 64 |
| GBP/JPY | 152.23 | 153.56 | 151.95 | 152.32 | 161 |
What this means:
All of this up and down volatility is very typical during the summer. The markets usually goes on a major trend twice a year. For a channel trader like me, this is heaven. The channels are usually fairly well defined and just bump up and down against the supports and resistances in the channel.
September will likely be very different. I expect the dollar to lose some major ground while the stock market takes a big plunge. The European markets usually lag behind the US markets in movement which is why the dollar will likely take a sizable hit during the next two months.
So, because the markets will likely behave differently, I will use different strategies and tactics to trade. Stay tuned for the results ...
Networking Results:
I promised some more details with all the networking I've been doing. First of all, I picked up 3 new clients since yesterday. There are a lot more soon to come that are interested. In addition to the very good reception from the networking lunch I attended the week before, I did a number of appointments with the people I met. One of those became a client today. I also got invited to several more networking events from that group of people.
Last Saturday, I met a team of financial experts that showed me something incredible. The lead person is a Certified Financial Planner that came up with an ingenious program - guaranteed principle financial vehicles with the upside of market gains without taking the risk of being in the market. This means the account can only go up, even when the market is taking a beating.
I've never seen anything like this. If I team up with these guys, it is an excellent compliment to my trading activities. For a small percentage of a portfolio, I can get some huge gains. For the bulk of the portfolio, the client can get above average market returns with NO RISK! Simply incredible.
Also next month, I will be quoted in a monthly magazine article that is due to hit newsstands around mid September. I will let you know when later.
I will also be doing a presentation at one of weekly networking meetings as well as a scheduled webinar for SummerstreetFX.
There is so much going on, it's crazy. (But in a very good way)
Til next week ... Have a good weekend!
Again, if you need any help understanding forex or any terms, go to www.babypips.com. The lessons and encyclopedia are great learning tools. Another good website is www.chartpatterns.com.
May the pips be with us!
The Pipmaster
Email: titangroupfx@gmail.com
No comments:
Post a Comment