Tweaks Working

Today was much better. The tweaks to my strategies worked very well, especially for such an up and down day.

Most of the currencies formed a W pattern today. This pattern can be very frustrating unless you recognize the pattern early enough. At the end of the Asian session, the dollar gained. At the beginning of the European session, the dollar really retreated. Then at the end of the European session, the dollar gained again. At the end of the New York session, the dollar retreated again. Which way is up???

I only did 14 trades today, 12 winners and 2 losses. The net pips for today is +173.8 pips, or 0.51% gain.

Here are the daily stats for Wednesday, December 9, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6284	1.6373	1.6165	1.6258	208
EUR/USD	1.4702	1.4780	1.4667	1.4724	113
USD/CHF	1.0268	1.0299	1.0217	1.0266	82
USD/JPY	88.42	88.67	87.35	87.85	132
GBP/JPY	143.98	144.28	141.96	142.82	232

I did send out November statements today with an explanation and an apology for the lateness.

Here is another 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.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Tweaks

It will take a bit to get used to these new strategies, but it will work out in the long run. You cannot change habits simply overnight.

The dollar really had a good run today against all the currencies except the yen. The yen had its own ideas and gained significant ground.

Today, I did 19 trades, with 13 winners and 6 losses. However, the losses overwhelmed the winners with the net pips totalling -123.7 pips, or -0.03% loss. Some of the tweaks will be to cut the losses shorter on days like today where the movements had almost no bounces.

Here are the daily stats for Tuesday, December 8, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6443	1.6474	1.6254	1.6284	220
EUR/USD	1.4825	1.4865	1.4679	1.4701	186
USD/CHF	1.0193	1.0285	1.0163	1.0268	122
USD/JPY	89.49	89.51	88.16	88.42	135
GBP/JPY	147.14	147.17	143.54	143.98	363

On other news, Summerstreet is still looking into the discrepancy. However, I will get an update and the statements out tomorrow.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

New Platform

While Summerstreet is looking into the discrepancy from Thanksgiving night, they decided to put me on a different platform and an affiliated brokerage. I'm not sure of all the benefits of this, but I'll wait and see.

They were able to get me up and running only this morning. So, like last week, it was a light trading day. The markets seesawed back and forth, producing mixed results. The pound and yen gained, the euro and swissie lost ground to the dollar. Mainly, the dollar made gains early during the Asian and European sessions, then lost ground during the New York session.

Because I was not up until basically the New York session, it was a light trading day. I made 9 trades, 7 winners and 2 losses. The net pips today is +53.1 pips, or 0.02% gain.

Here are the daily stats for Monday, December 7, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6423	1.6513	1.6311	1.6443	202
EUR/USD	1.4857	1.4903	1.4755	1.4825	148
USD/CHF	1.0163	1.0242	1.0136	1.0193	106
USD/JPY	90.13	90.36	89.02	89.49	134
GBP/JPY	148.01	148.75	146.59	147.14	216

Please remember the historical significance of this date in history and pay homage to all of those who paid the ultimate sacrifice. Thank you!

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

December Super Friday

It is Super Friday time again, the first Friday of the month when the US government releases the Non-Farm Payroll numbers. This is also known as the change in unemployment.

The report was very favorable for the US economy, shedding only 11,000 jobs in November. This is the fewest jobs lost since December 2007, the start of this recession, the worse since the 1930s. This gave the currency markets and the stock market some hope for continued signs of recovery.

The overall unemployment number released was down to 10% unemployment from 10.2%.

However, job creation is still so weak that more than 15 million out-of-work Americans face fierce competition for few openings. Until the economy starts adding jobs, we will not be out of the woods for a long time yet.

The news did really give the dollar a boost across all the major currencies. They all lost 2 to 3 cents (200-300 pips) to the dollar. Check out the pip intervals below, much higher than normal.

As for my trading, I did not trade today. Summerstreet is still looking into the discrepancy that happened on Thanksgiving Day. My account is still disabled while the inquiry continues.

For the week, the net pips is -820.2 pips, or 2.57% loss. This only included trading on Monday and very light trading on Wednesday and Thursday. No trades were made on Tuesday or Friday.

Here are the daily stats for Friday, December 4, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6538	1.6673	1.6420	1.6450	253
EUR/USD	1.5052	1.5089	1.4820	1.4850	269
USD/CHF	1.0009	1.0190	0.9986	1.0162	204
USD/JPY	88.25	90.75	87.98	90.39	277
GBP/JPY	145.95	149.05	145.40	148.70	365

Because the inquiry is still ongoing, November statements will be delayed.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Changes Part II

Today was not a whole lot different from yesterday, except that the markets reversed course and pretty much ended up where they started yesterday.

Trading volume is still heavier than normal.

As for the discrepancy from Thanksgiving, Summerstreet is investigating it now that I've provided the details of what to look for. In the meantime, they disabled my account this morning while they are investigating.

Prior to disabling my account, I did make two new trades, both winners. The net pips for today is +36 pips, or 0.01% gain.

Here are the daily stats for Thursday, December 3, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6626	1.6719	1.6529	1.6538	190
EUR/USD	1.5042	1.5139	1.5041	1.5052	98
USD/CHF	1.0017	1.0019	0.9959	1.0009	60
USD/JPY	87.37	88.46	87.35	88.25	111
GBP/JPY	145.26	146.82	145.24	145.95	158

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Changes

The trading volumes on the currencies are finally starting to diminish a bit, but they are still quite a bit higher than normal. The movement today was a little less than the very volatile moves of the past week.

Because of these reasons and some others, I am instituting some changes to my strategies. For the time being and maybe indefinitely, I will no longer have carry over trades from one day to the next. I will have tighter stop loss limits and will trade less. All of this will mean that I will have more frequent losses, but much smaller. This will really slow down the gains, but lower the risk at the same time.

As for the discrepancy from Thanksgiving, I got a line on the problem. We will see if we can resolve it.

I only made 7 new trades today, closing 4 winners and 3 losses. The net pips today is +31 pips, or a 0.00% gain. The gain was so small, it was less than 1/100 of a percent.

Here are the daily stats for Wednesday, December 2, 2009.

Open

High

Low

Close

Pip Interval

GBP/USD	1.6605	1.6693	1.6548	1.6626	145
EUR/USD	1.5079	1.5108	1.5031	1.5042	77
USD/CHF	0.9993	1.0025	0.9977	1.0018	48
USD/JPY	86.68	87.47	86.58	87.36	89
GBP/JPY	143.93	145.70	143.77	145.26	193

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com

Wild Turkey

I'm not sure what was up last week (Thanksgiving), but the daily trading volumes across the currencies were really up, nearly double what they were just a couple weeks ago.

Today, the pound was the big winner gaining nearly 200 pips by day's end against the dollar. The other currencies also gained on the dollar, with the yen as the exception which lost just a little ground. The biggest movement of the day was during the European session.

I took the day off from trading, still hurting from the beating I took on Monday. I'll see how tomorrow lines up before I jump back in again.

Here are the daily stats for Tuesday, December 1, 2009 (wow, December already!).

Open

High

Low

Close

Pip Interval

GBP/USD	1.6438	1.6645	1.6390	1.6608	255
EUR/USD	1.5002	1.5116	1.4970	1.5079	146
USD/CHF	1.0052	1.0074	0.9968	0.9993	106
USD/JPY	86.39	87.51	86.15	86.67	136
GBP/JPY	142.01	144.39	141.61	143.96	278

I'll try to get month end statements out by the end of the week.

May the pips be with us!

The Pipmaster
Email: titangroupfx@gmail.com