Trading Plan 6/28/04

Most of the movement was between 7:30 and 9:00 for the
GBP and most currencies. The news of the early
handover of Iraq, helped the move to take the pound to
1.8343, now we are in a tight range for the market. I
don't see much trading for the afternoon session. We
should get more activity in the Yen in the evening
session, when we get a slew of economic #'s coming
out.


On the GBP I see support around 1.8280. I think we
will be trading in a tight range for today and
probably tomorrow. Wedsenday Thursday and Friday we
will get great moves in all the currencies, The FOMC
meeting then Friday the Employment #'s. This will
make a great week of trading. My sentiment for today
is to buy the pullbacks and sell the resistance
levels, w/ very tight stops. I am more bullish on GBP
for today. I think we will get dollar strength
leading into Wedsenday FOMC from tonight.


ReCap for Friday 6/25/04
I only really traded the GDP #'s I was able to make a few good trades, I was up +36 pips made a couple of more, but hey where small losers, I ended up making +25 pips offer the day on 20 trades which is a lot. I was up for the week, which is always a plus. After being down big -140 pips for 2.5 days, I was able to to end up +20 pips for the week. I learned that if I stick to my plan, I will end up making money. I also learned that even after being down so much, I have the ability to trade out of my losses.

For the month I am only down -80 pips, which is not bad since its my 1st month trading live. I still have 3 days, and with The looming FOMC I can actually see a positive month. We will see