Day 34

Start Balance                 $15,026

Today's Profit Target         $196.11 (Day 28)
Required Position size     194,100 (JPY), 163,650 (USD)

Trades

1     +163,650K    EURUSD       2.9 pips       (3:32)
2     +194,100K    EURJPY       21.8 pips      (1:47)
3     +81,825K      EURUSD     *-6.1 pips      (0:00)
4     +81,825K      EURUSD     *0.4 pips       (0:16)
5     +81,825K      EURUSD     *-0.6 pips      (0:00)
6     +81,825K      EURUSD     *1.9 pips       (0:13)
7     +81,825K      EURUSD     *2.4 pips       (0:03)

* half the full sized position. this is the equivalent no. of pips if the position was full sized.

Total                      22.65 pips         ( $443.75 )

End Balance          $15,470

Project Status 

Day 34 end target  $15,566
1 Day Behind (1 day improvement since yesterday)
$96 behind schedule or 4.91 pips on tomorrow’s pip value.

Comments

I didn’t start trading until really late today after watching Liverpool perform miserably against Chelsea  at 4:30 in the morning I had to go back to bed and catch up on lost sleep. The currency markets continue to baffle me but nothing will puzzle me more than the lack of desire and effort the Liverpool players showed in such a massive game with so much at stake.

Consequently rather than being to active today, and after yesterday’s marathon, I decided to choose a couple of positions and be patient. It paid off big time with the EURJPY position. I bought the EURJPY just below 162 and when it got through it triggered stops and I’d banked nearly 22 pips in no time after having sat on a couple of pips for an hour and half. Trade 1 was in and out of the money for hours and after closing Trade 2 I decided to close it out for a few pips. As usual it was at this point I should really have stopped for the day, and as usual I didn’t. I had 24.7 pips from two trades at this point. Anyway I switched to half size and consequently had a bad loss on the next trade, it always seems to happen that way. 4 more quick scalping trades and I’d had enough.

So another very healthy pip day since blue Monday has brought me almost back on schedule. Just 5 pips behind, it would be incredible if I was back on track by the end of the week (tomorrow) as it took 15 days to recover the last time I was 6 days behind.