Wild Times

The last few days have been really wild. Lots of movement, big pip intervals, big volumes, lots of trades. In addition to that, I have some really good news, and some bad news.

I mentioned on Friday that I picked up some big deposits. That is really going to help the accounts grow a lot, because it is many multiples of what I had to work with before.

The bad news is that the large movements of the pound/dollar and pound/yen were moving in the opposite direction I thought was going to happen. My positions were getting more and more over extended. I was hedging to try to keep my margin in check, but could not hedge fast enough. I took some major losses on both accounts.

Because of all the wild activity and being gone for the weekend, I still have not tabulated all the results. However, with the new deposits, I will be able to make up for the losses in a matter of days. No worries.

Today, I did not trade. I had a number of meetings I had to go to and was worn out from the weekend anyway. But I will be back at it again tonight.

Here are the stats for Monday, September 28, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5973	1.5975	1.5768	1.5882	207
EUR/USD	1.4699	1.4719	1.4563	1.4620	156
USD/CHF	1.0266	1.0373	1.0250	1.0324	123
USD/JPY	89.58	89.76	88.22	89.62	154
GBP/JPY	143.10	143.11	139.72	142.35	339

Here are the stats for Friday, September 25, 2009 that I did not report on Friday.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6058	1.6064	1.5915	1.5928	149
EUR/USD	1.4665	1.4723	1.4613	1.4676	110
USD/CHF	1.0292	1.0340	1.0243	1.0281	97
USD/JPY	91.26	91.33	89.50	89.74	183
GBP/JPY	146.53	146.65	142.74	142.93	391

As you can see, the pound/yen really dropped over the last couple days. In fact, over the last 4 days, the pound/yen dropped over 1100 pips, a sizable move for any month, let alone for a few days. The pound/dollar also dropped 600 pips during the same time frame.

As I mentioned a few weeks back, I expected the currencies to move out of the channel they had been in. The surprise for me was moving positive for the dollar, I had expected the opposite. Now that the markets are starting to do some major trending, I will change tactics and strategies. There will more more losses than before, but minor ones. This will help avoid the heavier losses that I took on Friday. Trend trading is significantly different from channel trading.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com