Today the Non-Farm Payroll data was released. It is the monthly unemployment numbers the government releases. It had a very interesting effect on the market.
The yen reacted immediately first dropping 50 pips in the opening moments. It then shot up nearly 100 pips in the next couple minutes. I was fortunate to catch the majority of the upswing with the (GBP/JPY) pound/yen pair scoring almost 200 pips on 2 trades.
The pound and Euro did not move much initially. They acted as if they didn't know what to do. Finally, they followed suit with what the yen did, only much slower. The pound and Euro lost ground to the dollar initially. The interesting thing is that they gained significant ground on the dollar, but a couple hours later. Very weird! At that time, the yen was stalled.
The pound and Euro both gained a little ground on the dollar for the day - about 30 pips. The yen lost ground to the dollar for the day - about 20 pips. The interval for all the currencies were remarkably low for being Super Friday. The volume was also low, probably partially due to the upcoming holiday weekend.
I did my first EUR/USD (Euro/US dollar) trade today. It was a small trade netting 11.4 pips during the initial drop. Today was the first day I traded 3 currency pairs. The usual two are the GBP/USD (pound/US dollar) and the GBP/JPY (pound/yen). Trading the pound/yen really added to the pip count this week.
The unemployment data showed fewer number of new people claiming unemployment from last month, but the overall percentage of people out of work rose to 9.7% from 9.5%. This is the highest its been since June 1983. Economists expect the unemployment percentage to top 10% by early next year.
I did 24 new trades today, closing 23 winners, 0 losses, and with 15 trades remaining open. The net pips is
+450.9 pips, or
10.34% gain. This is the third day this week I did over a 10% return.
Speaking of this week, I blew away the previous best week for this account. The net pips for the week is
+2063.6 pips, or
63.61% gain. (I did +2183.3 pips for the entire month of August, although there were the delays of transferring accounts).
The upward movement on the GBP/JPY has me a little concerned and I may have to take some losses from some trades made a couple days ago. I'll wait to see how Monday opens during the Asian session. The New York session will be closed for Labor Day. The yen may gain some ground against the dollar.
Here are the daily stats for Friday, September 4, 2009.
| Open | High | Low | Close | Pip Interval |
| GBP/USD | 1.6316 | 1.6408 | 1.6285 | 1.6394 | 123 |
| EUR/USD | 1.4250 | 1.4325 | 1.4190 | 1.4309 | 135 |
| USD/CHF | 1.0624 | 1.0697 | 1.0577 | 1.0599 | 120 |
| USD/JPY | 92.62 | 93.23 | 92.27 | 92.98 | 96 |
| GBP/JPY | 151.15 | 152.67 | 150.82 | 152.44 | 185 |
I also added 3 new clients this week. Their monies were deposited at the end of the day today. I also received a number of calls from interested parties from all over the country. The word is spreading. Results speak!!!
Again, if you need any help understanding forex or any terms, go to
www.babypips.com. The lessons and encyclopedia are great learning tools. Another good website is
www.chartpatterns.com.
Have a great holiday weekend!
May the pips be with us!
The Pipmaster
Email: titangroupfx@gmail.com
