Tough Hump Day

I took my lumps today on the midweek day known as hump day. The remaining open trades from yesterday accounted for most of the damage. However, if the dollar continues its losing ways for the last five days, it could have been worse.

The pound was very choppy, but gained ground steadily on the dollar all day long, especially during the European session. The euro gained ground during the same time, but gave most of it back during the New York session. Thus we had another case of the currencies moving against each other. This can be so frustrating when trying to anticipate market moves.

I made 23 new trades today, closing 21 winners including 1 from yesterday, 4 losses including 3 from yesterday, and 2 trades remain open. The net pips for today is -233.8 pips, or -2.62% loss. I got caught being a little too aggressive yesterday and paid for it with the losses on some bigger trades.

Here are the daily stats for Wednesday, January 13, 2010.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6161	1.6303	1.6133	1.6278	170
EUR/USD	1.4485	1.4577	1.4455	1.4509	122
USD/CHF	1.0184	1.0217	1.0137	1.0180	80
USD/JPY	90.96	91.54	90.89	91.36	65
GBP/JPY	147.00	148.99	146.66	148.71	233

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com