A Bumpy Start

On the first trading day of the new year, it was another wild ride with high volumes. There was at least 7 major reversals on the pound alone as the currencies were all over the place.

The pound and euro gained a lot of ground on the dollar during the European session, but the pound gave it all back, while the euro did not. It was another case of the currencies moving against each other in opposite directions.

It was a frustrating day for me because of this. I made 28 trades, closing 21 winners and 7 losses. Unfortunately, the losses were larger posting a loss on the first day of the year. The net pips for today is -149.7 pips, or -1.68% loss.

I will make some tweaks to the strategies as long as the markets are this volatile. The last several days have been very frustrating.

Here are the daily stats for Monday, January 4, 2010.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6108	1.6238	1.6056	1.6084	182
EUR/USD	1.4306	1.4454	1.4256	1.4411	198
USD/CHF	1.0364	1.0417	1.0262	1.0297	155
USD/JPY	93.05	93.20	92.17	92.49	103
GBP/JPY	149.89	150.66	148.61	148.77	205

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com