Thursday, February 02, 2006

Forex Trade - 02/02/06

5:00 pm EST- 1 HUGE trade won!

I'm kidding. I only got 3 pips off of this one. I saw a breakout at 10:20 and we entered 3 lots long at 2095 with a stop at 2055 and a target at 2116. After we entered, the market pretty much stalled at 2100 and didn't do much the rest of the day. Due to boredom, I ended up closing all 3 lots at around 12:40 pm at 2099. I think I'm going to eat at McDonald's with today's winnings :) Hope you all did well. ~Big Pippin

Results: +12 -9(spread)= +3 pips. Woohoo!

8:00 am EST - Analysis

Good morning! Today we have US economic reports coming out at 8:30 am EST. A couple worth mentioning would be the Nonfarm Productivity report and the Initial Jobless Claims report. Initial Jobless Claims reports the number of unemployment insurance filed in the past week. Nonfarm Productivity measure the efficiency in which goods and services are produced beyond the farming sector. So, watch out for volatility around that time. And for those of you who has not heard, the ECB kept interest rates this morning at 2.25% which is no shocker. What happened to all that buzz by Trichet a few months ago about raising rates?? Oh, well....stay focused, good luck and good trading! ~Pipcrawler

EU Session High: 1.2075
EU Session Low: 1.2043

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