New Records

What a fantastic day!!! Not only did I set new records across the board for the account, but the dollar lost quite a bit a ground later during the day easing the stress of some short positions that remain. Within the next day or so, I should be able to liquidate these losing positions at a less painful place. These are remnants from last week's big moves against the dollar and from the internet outage I experienced on Thursday.

In the meantime, the trading over the last couple days has gone very well. All of the currencies continued to make some larger moves up and down forming V's and upside down V's. It becomes a little easier when you expect them and when the connections are up allowing trading to be done.

During the Asian session, the currencies were a little more subdued, but made their V patterns on a smaller scale. Then, the currencies made a larger move against the dollar during the European session setting new monthly highs, but retreated significantly during the New York session. Each lost ground to the dollar at the end of the day or finished with a doji, ending about where it began.

I made 46 new trades today, closing 48 winners including 10 older trades, 0 losses, and 25 trades remain open. The net pips for today is +849.5 pips, or 20.82% gain. The total pips, percentage gained, and dollar increase are all account records.

Here are the daily stats for Tuesday, October 20, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6420	1.6486	1.6326	1.6381	160
EUR/USD	1.4962	1.4993	1.4881	1.4943	112
USD/CHF	1.0113	1.0167	1.0082	1.0115	85
USD/JPY	90.53	91.05	90.06	90.76	99
GBP/JPY	148.66	149.35	147.47	148.68	188

The dollar should gain some more ground over the next day or so. I will then be able to unload some of the short positions that I got caught in last week at a much lower loss. After that, the dollar should lose ground again. This is classic Elliott Wave movement for a trending market.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com