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FX Trading Update 07/24/2010

The past week's trading was dominated by corrective movements or sideways running consolidations in the selected currency pairs. Accordingly, there were many missing wheel, and a negative result of -0.95% weeks. Only the long trade on EURUSD from the previous week, I could close in profit, so that the hit rate of 14.29% very modest. Three open positions I take with me for the weekend and hope that the opening trade goes in my favor. The equity curve is certainly not the rescue of their 50s GD, so that in the coming week, I must first reduce the risk significantly.

Closed Trades
@ 1.2646 EURUSD long / close @ 1.2903 / +257 pips (+2.65 R)
Long EURGBP 0.8458 @ / @ SL 0.8458 / 0 pips (0.00 R)
Long EURUSD 1.3000 @ / @ SL 1.2806 / -194 pips (-1.00 R)
Long USDCHF 1.0531 @ / @ SL 1.0421 / -110 pips (-1.00 R)
Short EURGBP @ .8399 / SL @ .8459 / - 60 pips (-1.02 R)
Short GBPUSD 1.5204 @ / @ SL 1.5414 / -210 pips (-1.00 R)
Short USDCHF 1.0421 @ / @ SL 1.0531 / -110 pips (-1.00 R)

Open Trades
EURUSD short @ 1.28061 / 1.29997 SL / -104 pips
Short GBPUSD @ 1.52044 / 1.54136 SL / +11 pips
Long USDJPY @ 87.274 / 86.118 SL / +17 pips

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