Which Way Part II

Wednesday was another choppy day where the market was filled with reversals. It was almost like watching a heart monitor, albeit with very irregular heartbeats. There were heavy volumes again as the market was very active. The difference today from yesterday is the dollar ended up losing ground rather than gaining ground.

The currencies continued to be out of sync for periods during the day, making it difficult to get confirmations of market movement. The euro gained a little ground from the European session on after a drop during the Asian session. The pound was back and forth all day, but at irregular timings and big movements. In the end, the pound gained ground as well.

Today, I made 14 trades, closing 9 winners including 1 from yesterday, and 7 losses including the other open trade from yesterday. The net pips today is -179 pips, or -0.75% loss.

I've been having a rather difficult time with this choppiness for some reason, so I will pull back a little and not be as aggressive until the market starts following patterns again.

Here are the daily stats for Wednesday, January 6, 2010.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5989	1.6061	1.5936	1.6015	125
EUR/USD	1.4364	1.4433	1.4282	1.4405	151
USD/CHF	1.0333	1.0378	1.0248	1.0275	130
USD/JPY	91.69	92.73	91.51	92.30	122
GBP/JPY	146.60	148.40	145.95	147.81	245

December statements did get sent out.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com