Thursday, October 06, 2005

Forex Trading- 10.06.05

8:00 am- Analysis

Good morning everyone. Still no good trades yet for the week. The Euro keeps making its moves during the Asian sessions and leaving us with nothing during the EU and US session. Last night was no exception as the Euro only made a 36 pip range. There is nothing really major coming out today so I don't really know what to expect. I'm just going to stick to my rules and hope a signal is generated. Of course, I'll post when something exciting happens :)

Key Levels:

EU Session High: 2068
EU Session Low: 2036
Calculated target 1: 2087
Calculated target 2: 2017













BabyPips Update:
I know you all have been patiently waiting for the launch of Babypips so that you'll receive the PDF. I assure you that it won't be too much longer. We are in the final testing phase and need to be absolutely sure everything works correctly. The site is going to be fairly large so maintaining it will be difficult unless we set it up the right way. That's why we're so particular with our testing. Thanks again for waiting, and I promise all of you that if you've sent me an email, you will receive a copy of the PDF when the site is launched. If you're new to the blog and don't know what I'm talking about click on "My System" on the top. Thanks again everyone for your support and understanding.

3 comments:

Magpie said...

Hi,

just doing the weekly look at the other bloggers I like, sent you an email to get your system on PDF - all sounds interesting and hope the site works out fine.
By the looks of your chart the lines (is it your system?) seem to be looking for a breakout of the previous session? I've been using the Asian session breakout strategy for about a year now (I trade the London session - got the strat off Phil Newton at Trading-strategies.info). There's an explanation on my blog, but it revolves around the breakout low/hi, then waiting for the retrace and has been working very well all in all, however cable hasn't been playing ball the last month to 6 weeks, then in the last 2 weeks has got back on track with it thankfully.
I agree on the London session having no movement in the last couple of weeks, with the Asian session taking the lions share - it's been hard going, but as usual the lessons learnt (sitting on your hands) are sometimes worth more than the financial gains.

cheers

Tim

Big Pippin said...

Hey Tim,

Yea, the London and US session have been lousy lately, but there were a few good trades. I have just been extremely busy with BabyPips that I haven't been able to keep up with the blog as much. We're having some last minute techincal problems and its been hectic trying to fix them. November 1st will be our official launch date and I am very excited about it because we really believe in helping new traders the "right" way. No gimmicks; just free, unbiased education. Education is the greatest weapon against this market and we just want to share that with the world. Once the site is up, I will have plenty of time to start with my normal blog posts again. Its just been a crazy 2 weeks!

Anyways, as far as the system goes. Its a kind of a combination of a breakout and a crossover strategy. Sometimes they happen together and sometimes they don't. In the PDF I will explain my EXACT trading routine, how the system works, and what I look for in a trade. I'm sure that even if you don't use the system exactly, you can still learn something from it. When Babypips comes out, we are going to eventually have a live trading session where people can join in with me as I trade the system live.

The system that you and everyone else that has emailed me so far will be distributed if/when you register for our newsletter on Babypips. We want to give it to you as kind of an incentive to take a peek at our site (shameless, I know). Once the site is launched, we are going to make the system a reward of some kind. For example, once you complete all the lessons, you will get a copy of the PDF. Anyone with the copy of the PDF will then have access to our live trading room and can trade the system with us. In theory, that's what we'd like to do, but its still in the works.

Ok, I think I've rambled on long enough. Thanks for stopping by and stay in touch. It's good to hear from other traders once in a while :) Happy trading everyone!

-BP

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