Through the Asian session, the pound went up in value, gaining on the dollar. Not until midway through the European session, did it finally drop. An negative announcement on the quarterly British gross domestic caused the currency to drop over 100 pips in seconds, and it continued from there. For the day, the pound's interval was almost 400 pips, one of the largest moves of the year.
The problem this caused is that I was prepared for the pound continually gaining ground. This resulted in more losses and a overall negative return for the day and the week. This is only the third negative week in 3 months.
I did 41 new trades today, closing 31 winners including 8 older trades, 8 losses, and 19 trades remain open. The net pips for today is -693 pips, or -8.19% loss.
The net pips for the week is -1157.9 pips, or -15.27% loss.
Here are the daily stats for Friday, October 23, 2009.
| Open | High | Low | Close | Pip Interval |
| GBP/USD | 1.6624 | 1.6690 | 1.6296 | 1.6306 | 394 |
| EUR/USD | 1.5033 | 1.5059 | 1.4985 | 1.5001 | 74 |
| USD/CHF | 1.0043 | 1.0100 | 1.0031 | 1.0090 | 69 |
| USD/JPY | 91.28 | 92.11 | 91.27 | 92.08 | 84 |
| GBP/JPY | 151.74 | 153.19 | 149.94 | 150.15 | 325 |
This week has been very challenging for me to say the least. The continual round the clock vigil is wearing anyway, but the losses from this week have been very trying. This week has been a roller coaster, especially after the remarkable results on Monday and Tuesday, then the losses on Wednesday and Friday. I think I will take a couple days off from trading to clear my head before rebuilding the account. A clear head is essential for trading.
May the pips be with us!
The Pipmaster
Email: titangroupfx@gmail.com
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