Conversely, when the market does not form patterns, trading becomes very unpredictable. Today was one of those days. For example, the Swissie and Euro did not move much today. However, just prior to the New York session, the pound really started to gain ground on the dollar. For five straight hours it continued while its European cousins (the Swissie and Euro) barely moved. In fact, for a while the currencies were moving in opposite directions. This makes trading very difficult.
The other matter that made trading difficult is that there was another reversal. For most of the day, the dollar was gaining strength on the currencies. Then came the big reversal on the pound.
I did my best to make up for the unusual activity, but came up a little short. I did 24 new trades, closing 16 winners, 5 losses, and 3 trades remain open (again, the market just flatlined about noon). It is very unusual for the market to flatline after such a big movement.
Considering the very unusual movement, the losses were limited. The net pips is -151.6 pips, or -0.01% loss. Like yesterday, due to some bigger trades, the loss was very limited even though the pip loss was sizable.
Here are the daily stats for Wednesday, December 30, 2009.
| Open | High | Low | Close | Pip Interval |
| GBP/USD | 1.5900 | 1.6092 | 1.5830 | 1.6075 | 262 |
| EUR/USD | 1.4352 | 1.4359 | 1.4272 | 1.4337 | 87 |
| USD/CHF | 1.0366 | 1.0420 | 1.0350 | 1.0365 | 70 |
| USD/JPY | 91.98 | 92.75 | 91.89 | 92.40 | 86 |
| GBP/JPY | 146.27 | 148.91 | 146.02 | 148.55 | 289 |
Due to the New Year's Day holiday, trading will close early on New Year's Eve. No trading will be done on Friday, New Year's Day.
May the pips be with us!
The Pipmaster
Email: titangroupfx@gmail.com
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