Today was a very interesting trading day. The timing of moves was very odd. First of all, the European currencies reached their highs of the day during the tail end of the Asian session, around 12:00 midnight here. Usually the highs come during the European session or during the New York session.
As mentioned the last couple days, if the trend continues with the dollar losing ground, I would have to have to take some losses. I did take a couple sizable losses early seeing that the dollar was losing ground early during the Asian session. I prepared for more of the same during the other sessions, but that never materialized. The European session and the New York session was pretty choppy and listless, never finding a direction to take. It was some of the calmest sessions I've seen is some time.
Meanwhile, the yen continued to gain ground on the dollar throughout the day. It had the most movement of the major currencies and did almost double the usual trading day interval. The yen also gained significant ground on the pound which should allow me to close some older trades in the next couple days.
The Euro made a new high against the dollar for 2009. The yen also set a new high (low) mark against the dollar since February, gaining significant ground past the resistance set in July. The pound made a slight advance against the dollar, then retreated and barely posted a gain for the day.
I made 33 new trades today, closing 24 winners including 2 older trades, 2 losses, and 28 trades remaining open. Because of the usual movement, I had many more open trades than expected today. On Sunday and Monday, many of those should be closed.
The net pips for the day is +23.5 pips, or 1.88% gain. I managed to make up for over the 300 negative pips on the 2 losses. Had I not taken the losses, the weekly pip total would have bested last weeks total of 2063.6 pips.
Speaking of the weekly totals, the net pips for the week is 1787.3 pips, or 40.36% gain. This is the fourth straight week of over 40% returns.
Here are the daily stats for Friday, September 11, 2009.
| Open | High | Low | Close | Pip Interval |
| GBP/USD | 1.6648 | 1.6739 | 1.6642 | 1.6674 | 97 |
| EUR/USD | 1.4580 | 1.4634 | 1.4552 | 1.4579 | 82 |
| USD/CHF | 1.0383 | 1.0398 | 1.0339 | 1.0374 | 59 |
| USD/JPY | 91.72 | 91.77 | 90.20 | 90.64 | 157 |
| GBP/JPY | 152.70 | 152.85 | 150.46 | 151.12 | 239 |
I did add a new client today. I'm expecting several more clients next week. Interest continues to spread considering the track record that I've been building. I love to trade and make people money. After all, that is the only way I get paid as well.
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.
Stay tuned for more results next week.
Have a great weekend!
May the pips be with us!
The Pipmaster
Email: titangroupfx@gmail.com
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