Outage 2

Although I did not have another outage, I was still dealing with the outage from Thursday in managing my positions. Again today, the currencies were really erratic.

The pound especially had a wild ride today. First during the Asian session, it did a 140 pip upside down V formation during the first 8 hours of the day. Then during the European session, it did another 100 pip upside down V formation. Which direction is it going? The New York session gained some ground on the dollar before leveling off with about a 90 pip gain on the dollar.

The other currencies initially gained on the dollar during the Asian session, but lost that ground and then some during the other sessions and for the day. Thus the currencies were mixed with the pound gaining ground because of its momentum, but the euro, yen, and swissie lost ground against the dollar.

This may mean that the current trend against the dollar may reverse again next week.

I continued to be aggressive in doing damage control on the lost ground during the outage on Thursday. I did 61 new trades today, an account high. I closed 50 winners including 3 older trades, 2 losses, and 21 trades remain open. The net pips for today is -642.4 pips, or -2.47% loss. The aggressive trading limited the loss for the day to under 3%.

The 2 losses were from earlier in the week before this big move upward. I still have some positions from earlier that I may have to liquidate if the trend continues.

For the week, I still posted a gain. The net pips for the week is -124 pips, but a 15.76% gain. This is an example where the pip value can change on any trade. I made larger wins giving me a dollar gain, but the losses were lower values leaving a negative pip balance for the week.

Here are the daily stats for Friday, October 16, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6266	1.6397	1.6250	1.6353	147
EUR/USD	1.4947	1.4966	1.4848	1.4902	118
USD/CHF	1.0147	1.0222	1.0129	1.0180	93
USD/JPY	90.54	91.31	90.50	90.91	81
GBP/JPY	147.26	149.26	147.14	148.60	212

Rest assured, based on this week there will be more excitement next week.

I haven't mentioned this for a while, so here's a reminder. 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 weekend everyone!

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Outage

Wow, what a day! I had a technical issue - my internet service went out for over 3 hours and it was at a very bad time when the market was really moving. Comcast had the problem already reported and didn't know how long it would be before it was restored. After it did come up, I saw the huge move and had to start damage control.

The European session had very strong movement. The pound moved over 200 pips in the hours during the outage, gaining on the dollar. At the same time, the yen started losing ground on the dollar, multiplying the effect on the pound/yen pair. Also called the PJ, it moved 475 pips for the day.

The other currencies were very erratic. At the time when the pound was charging up, the Euro was going the opposite direction retreating against the dollar. Then during the New York session, the Euro charged back up and ended the day slightly up against the dollar.

I did 49 new trades today, closing 54 winners including 12 older trades, 7 losses, and 12 trades remain open. The net pips for today is -890 pips, or -2.74% loss.

Here are the daily stats for Thursday, October 15, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5979	1.6297	1.5971	1.6268	326
EUR/USD	1.4922	1.4966	1.4842	1.4945	124
USD/CHF	1.0150	1.0195	1.0116	1.0145	79
USD/JPY	89.43	90.76	89.26	90.53	150
GBP/JPY	142.90	147.54	142.79	147.27	475

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Gaining Momentum?

The trend with the dollar losing ground continued today, but not very aggressively. It was kind of choppy across all the currencies, but each gained a little on the dollar for the day.

This kept me a little off balance, but I still did 26 new trades today. I closed 25 winners including 4 older trades, 0 losses, and 24 trades remain open. The net pips for today is +441.5 pips, or 6.41% gain.

Here are the daily stats for Wednesday, October 14, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5924	1.6022	1.5900	1.5977	122
EUR/USD	1.4853	1.4945	1.4838	1.4923	107
USD/CHF	1.0214	1.0226	1.0128	1.0149	98
USD/JPY	89.71	89.88	88.82	89.43	106
GBP/JPY	142.84	143.80	141.69	142.88	211

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Reversal for Dollar

It looks as though the worm as finally turned for the dollar. After a continued rally for the dollar that ended middle of the way through the European session, the dollar lost ground through the rest of the day. Furthermore, it looks like the much of the upcoming economic announcements will be unfavorable to the dollar.

The pound really gained on the dollar, moving over 200 pips. The rest of the currencies had much more modest gains. The formation of the pound daily chart looks like a check mark.

I posted another record in dollar amount gains for the account. I did 27 new trades today, closing 31 winners including 11 older trades, 0 losses, and 23 trades remain open. The net pips for today is +620.8 pips, or 8.43% gain.

Here are the daily stats for Tuesday, October 13, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5796	1.5926	1.5705	1.5923	221
EUR/USD	1.4772	1.4874	1.4760	1.4852	114
USD/CHF	1.0268	1.0276	1.0192	1.0214	84
USD/JPY	89.81	90.18	89.42	89.71	76
GBP/JPY	141.86	143.18	141.92	142.04	126

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Columbus Day

Some could say that Christopher Columbus was lost when he landed on San Salvador in 1492. It seems fitting that the currencies are still a little lost, not sure of which direction to go.

The pound lost ground to the US dollar for the day, but gained much of it back before the day ended forming nearly a V for the day. All the other European currencies gained on the dollar - the euro and swissie. Their movements were more like a check mark. The yen also did a V and lost a little ground to the dollar.

The majority of the movement today was during the European session. The New York session was pretty flat. My timing was a little off today, so I did not trade as much. Volume was quite light, especially on the New York session because of the bank holiday.

I did 25 new trades today, closing 23 winners including 8 older trades, 0 losses, and 27 trades remain open. The net pips today is +346.1 pips, or 5.77% gain.

Here are the daily stats for Monday, October 12, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5839	1.5880	1.5726	1.5796	154
EUR/USD	1.4729	1.4812	1.4676	1.4772	136
USD/CHF	1.0310	1.0351	1.0232	1.0269	119
USD/JPY	89.60	90.44	89.60	89.81	84
GBP/JPY	141.93	143.17	141.51	141.86	166

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

The Dollar Responds

Today, the dollar steadily gained on the currencies, especially the pound and the yen. The euro and swissie bounced a little more, but still lost ground to the dollar.

The New York session was the most active, but during the European session there was a retreat for the dollar. It was fairly mild and ultimately lost its momentum to the strength of the dollar.

The timing and duration of the daily trends that evolved kept me a little off balance. However, I still had a pretty good day. I did 32 new trades today, closing 27 winners including 3 older trades, 0 losses, and 25 trades remain open. The net pips for today is +374.7 pips, or 4.53% gain.

This was the first week that I traded 4 different currency pairs in a single day. Several days I did 3 different pairs. The open trades are all pound/dollar (GBP/USD) and pound/yen (GBP/JPY).

For the week, I set new account highs in pips and dollar amounts gained. As mentioned yesterday, I had 3 straight days that I set new dollar amount highs. The net pips for the week is +2359.1 pips, or 34.66% gain.

I have been able to replace all the losses from two weeks ago and then some.

Here are the daily stats for Friday, October 9, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6069	1.6076	1.5823	1.5839	253
EUR/USD	1.4793	1.4795	1.4672	1.4724	123
USD/CHF	1.0256	1.0351	1.0256	1.0315	95
USD/JPY	88.37	89.87	88.34	89.70	153
GBP/JPY	142.00	143.07	141.62	142.11	145

New record again

Today, the dollar lost ground against all currencies. It seems as though a new trend is starting. The prices of gold and silver are also confirmations as they are both going up.

The Asian session again was very active. The euro also had a very strong New York session. The pound bounced around, but gained ground for the day.

Because of the active sessions, I did a good volume also. I did 37 new trades today, closing 38 winners including 6 older trades, 0 losses, and 21 trades remain open. The net pips for today topped 700 at +705.2 pips, or 9.55% gain.

This was the third straight day that I set a new account record in profits in terms of dollars gained.

Here are the daily stats for Thursday, October 8, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.5964	1.6117	1.5948	1.6069	169
EUR/USD	1.4688	1.4816	1.4682	1.4792	134
USD/CHF	1.0327	1.0332	1.0230	1.0257	102
USD/JPY	88.58	88.70	88.13	88.37	57
GBP/JPY	141.42	142.49	140.94	142.00	155

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com