Trade Results-21st Jan ‘09

POSTED BY Seeni on Jan 22 under Forex, Trade Results

Another crazy day in the markets! After a long time, the market defied my market psychology patterns and totally caught me offguard. Obviously, it wasn’t my day at the innings but i didn’t lose much overall. As always, minimize your losses, and your profits will start coming

We saw the Gbp and Euro lose some ground against the dollar when london market opened. They lost about 120-140 pips relatively since market opened. The best part happened after which. Both pairs completely got contained in a range. This is pretty normal. However, even during NY open, which is when we see some strong volatility, there was hardly any movement. For a good 2 hours since market open(i will have usually done all my trades during normal days within this time), there was hardly any directional movement and it was simply ranging like a yo-yo. As FOMC Member Geithner was speaking, i believe this caused the market to be extremely muted and right after which, we saw the GBP/USD tank by about 200 pips, Usd/Jpy by about 300 pips, Gbp/Jpy by about 500 pips and Eur/Jpy by about 400 pips. If you had caught these moves, best wishes to you. However, this move didn’t have any technical nor fundamental news implications. I am not sure what quite did cause this, and if you would know, please drop me a comment below?

So, how did we do yesterday?

1) Eur/Usd

2) Gbp/Usd

Total trade for the day – 21st Jan;
Took 3 – Won 1, Lost 2 – 33%
Profit – 65 pips
Loss – 60 pips
P&L for the day – +5 pips
P&L for the month, Jan 2009 – 876 pips

Take Care & God bless,
Seeni

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