The Trend Reverses

The dollar got a reprieve today. Instead of continuing a string of 5 days of losing ground to the pound, it finally reversed. In a week of many reversals, the biggest one came during the New York session.

The euro also lost ground today, but did it steadily throughout the day. Much of its losses came during the Asian session. By the time the New York session came around, the euro had nearly flatlined. So, to continue a very confusing week, the currencies moved at different times (what a shock!).

I did 33 new trades today, closing 24 winners, 2 losses, and 7 trades remain open. I left a number of trades open today because of several appointments I had today and had to cut the trading day short. The net pips today is +105.9 pips, or 1.05% gain.

For the week, it wasn't a good showing. This volatile week was really rough on the results. The net pips for the week -301 pips, or a -3.36% loss.

Here are the daily stats for Friday, January 15, 2010.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6332	1.6353	1.6208	1.6254	145
EUR/USD	1.4498	1.4510	1.4336	1.4378	174
USD/CHF	1.0185	1.0285	1.0179	1.0259	106
USD/JPY	91.18	91.30	90.58	90.78	72
GBP/JPY	148.92	149.16	147.11	147.56	205

Believe me, I will find a way to get back my mojo. The last several weeks have been really rough, but trading is like that. It's like a hitters slump in baseball. It sometimes takes a bit to come out of the slump.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com