ForexSpirit

I didn’t really have a good handle on the markets today so I tried to keep my exposure low. After taking a loss on my first trade of the day I was especially conscious of not over trading and somehow rushing to make back my loss.
The sterling trade I closed out for a [...]

There’s a must read article entitled Burning Down His House in this month’s New York magazine about Dick Fuld and the fall of Lehman Brothers.

My second sterling trade of the day came within a whisker of its take profit target an hour after the entry. When the 1.5000 level proved to offer decent support well up until 10:00EST I decided to play it safe and moved my profit target to just above break even at 1.5000. I [...]

The start of a new week and new month sees the DOW tanking once again.
GBP/USD and EUR/JPY saw lots of movement today, especially during the London session, while EUR/USD was curiously quiet. An early indication of a potential breakdown of the tight correlation that has existed between the currency and equity markets for the [...]

I’m sure I’ll do my usual monthly review post but since this was the last trading day of the month for me I’ve calculated up my total weekly and monthly pip totals.
I’m pretty happy with the results.

  Trade   Market        Direction  Entry          Exit          Pips  

  1EUR/JPYLong123.50123.6010

  2EUR/JPYLong122.95123.0510

  3GBP/USDLong1.52811.529110

  4GBP/USDShort1.54401.543010

  5EUR/JPYLong122.21122.3110

  6EUR/USDLong1.28301.284010

  7EUR/USDShort1.28971.288710

Total daily pips: 70
Total weekly pips: 181
Total monthly pips: 537.1