Reprise

There's not much new to report today. Supposedly, the wire was received late this afternoon, but the funds are still not deposited. SummerstreetFX told me that the funds will be there when the market opens on Sunday afternoon. Hopefully, I will finally be back to trading on Sunday.

The markets were a little light on volume today. The pound did another W, but lost ground to the dollar. The Euro was the bigger loser to the dollar. The yen also gained on the dollar.

Here are the daily stats for Friday, August 14, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6579	1.6606	1.6483	1.6530	123
EUR/USD	1.4290	1.4305	1.4159	1.4190	146
USD/CHF	1.0698	1.0750	1.0670	1.0726	80
USD/JPY	95.47	95.47	94.41	94.84	106
GBP/JPY	158.27	158.35	155.97	156.77	238

What this means:
The market had trouble deciding which direction to move this week. Earlier in the week, the dollar was gaining strength thanks to the positive unemployment report from Friday and the additional buys of US Treasury bonds from the Federal Reserve. Later in the week, the dollar lost a little ground and mainly bounced around.

Since I did limited trading (only 1 day) because of the delayed funds transfer from broker to broker, I only had limited gains. For the week, the account was up +74 pips or 7.73%. Keep in mind that the account is still pretty small.

Next week, there are a number of prospective new clients that should be joining. That should help the size of the account and offer a little more flexibility on my trading. This should allow me to trade more frequently and thus capture more movement.

Again, if you need any help understanding forex or any terms, go to www.babypips.com. The lessons and encyclopedia are great learning tools.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com