EUR/USD 9.15.05

5:50 pm- Absolutely Nothing!

Ok, so the market has been crap this week, and I think it's because of the upcoming interest rate decisions for the US. The decision will be made on the 20th (Next Tuesday), which is why I think none of this week's news reports have done anything to the Euro. I was really expecting a breakout today because the range was so narrow, but once again, there were no trades today. I'm not even going to post a chart because if you look at this morning's chart, I can tell you that the price stayed within those 2 dotted black lines. Very boring day today. Anyways, I'm not going to force anything so I encourage you to be patient if you haven't made any trades this week. It will pay off to wait for a good signal.

8:00 am- Analysis

Good morning everyone! I am expecting a breakout sometime soon. Not only have we not seen any movement this week, but there is going to be an interest rate decision for the US on the 20th. Big players are notorious for making moves before the actual rate decision is made so I would expect a big move sometime soon. As for today, the Euro once again made a very narrow range of 40 pips. The US CPI report comes out today which could move the market. However, this week has been unpredictable so I would be very careful. Here are the key levels, just in case you can't see it on the chart:

EU session high: 2236
EU session low: 2196
Calculated targets: 2282 and 2188

I'll try to post throughout the day. Happy trading everyone!

EUR/USD 9.14.05

6:00 pm- 1 ugly trade won

There was a signal at 11:10 today and I entered 3 lots short at 2274 with a s/l of 2311 and a target at 2257. By noon (the end of my trading day) my first target was still not hit and I didn't want to watch the market anymore so I just set a limit order at my calculated target from this morning at 2265. Luckily, it was hit at 2:00 pm and I was able to win something on this ugly day. If you still had the original target, you would still be in the trade right now. Who knows? Maybe it will still hit the original target during the Asian session. Either way, it was a crappy day once again.

Results: +27 -9(spread)= +18 pips












8:00 am- Analysis

Good morning everyone! The Euro made a 51 pip range last night. The range has been about the same for the past 3 days. I'm hoping this time we'll see some movement. However, there are no big news events today so I'm not sure if we'll see much movement. Tomorrow is the CPI report so that might be why we're seeing a "stall" in movement. Traders might be waiting for that report before they take positions. Once again, I advise to be patient and wait for a good signal before you trade. Happy trading everyone!

EUR/USD 9.13.05

11:42 pm- No trades

Sorry for the late update everyone. I drove about an hour and a half away for a funeral and I just got back home. Needless to say, the market was very crappy today. You can see from the charts that there were no valid signals and there were no breakout trades. The price did reach my calculated target and then proceeded back down the EU session low. This lack of movement makes me think that there will be a very good trade at least one time this week. It will probably be at least 50 pips. Anyways, hopefully it will be tomorrow because I'm getting anxious :)












8:00 am- Analysis

Good morning everyone! At the moment, it looks like the Euro is rangebound again. It made a 54 pip range last night and according to the 5 day average daily pip range, it has about 48 pips left of movement. However, we have 2 major news reports coming out at 8:30 am EST. The US PPI and the US trade balance. If there are any surprises in these news reports then I think we'll see alot of movement. Today might be a good day to trade the breakout. With big news events like this, you can be aggressive and trade when the price closes at least 10 pips above or below the EU session hi/low. If you still want to be conservative than that's fine too. Just wait for the normal signal. I'll post throughout the day. Happy trading everyone!

EUR/USD 9.12.05

7:33 pm- No trades

Just like I thought...there was no movement. I said earlier in my analysis that I was going to wait for a good signal, and I didn't get any today. There was a breakout trade, but because there was no major news reports out during the US session, I didn't give it much credibility. However, if you did take that breakout trade (it did close 10 pips below the EU sesison low), you would've been profitable...it just would've took a while :) Anyways, that's Monday for you. Hopefully the rest of the week will be better.












8:00 am- Analysis

Good morning everyone! Hope you all had a relaxing weekend. Today looks like it will be a repeat of Friday. There has been very little movement, and while this narrow range usually leads to a nice breakout movement, there is no major news coming out today which leads me to believe that we won't see that much movement. However, I will stay consistent and wait for GOOD signals. Mondays are always tricky so I will be extra cautious today. Happy trading everyone! I'll be posting throughout the day.

Results for 9.05.05 - 9.09.05

Despite not trading on Monday because of the holiday and the technical difficulties I had on Wednesday....not to mention the LACK of movement this week, I was still able to come out with a small profit. This really boosts my confidence as a trader, and if you've been having success recently, I know you're confidence is also growing. Here are this weeks results:

Monday: US holiday
Tuesday: +16
Wednesday: No trading because of technical difficulties
Thursday: +18
Friday: +16

Total: +50 pips

Not an awesome week, but still positive :)

EUR/USD 9.09.05

1 Trade Won

Sorry for the late post. Happy hour can make you forget to do things :) Anyways, like I expected, there wasn't that much movement on Friday, but I was still able to get a small win. You can see that during the early part of the day, the price hit my calculated target but could not break it. However, later on it was able to break it and coincidentally enough, one of my signals was generated. I entered 3 lots long at 2435 with a s/l at 2414 and a first target of 2446. My first target was hit and I closed 2 lots. I moved my last lots stop to the low of that candle and ended up getting stopped out at 2438.

Results= +22 +3 -9(spread)= +16 pips












8:00 am- Analysis

Good morning everyone! The Euro made about 61 pips of range last night and I'm not expecting a whole lot of movement. There hasn't really been any big news events that could move the price. As for today, I'm going to be very cautious because I'm expecting a quiet day. However, I will keep my eye out on the market. Since I haven't made that much profit this week because of the lack of trading, I know one loss would put me negative for the week so I will be extra careful. I'll try to post throughout the day. Happy trading everyone!

EUR/USD 9.08.05

6:30 pm- 1 trade won

Earlier in my analysis I said I wouldn't trade if there wasn't a breakout. On the message board, I took back my statement because there was such a clear signal that was generated. At 8:40, there was a clear entry candle and was still at least 10 pips away from the EU session high, so I figured it would at least go to that point. I entered 3 lots long at 2436 with a s/l at 2419 and a first target of 2447. My first target was hit at 9:00 am, and I closed 2 lots and moved my stop to the low of that candle at 2441. I was stopped out on that lot on the very next candle.

Results: +22 +5 -9(spread)= +18 pips












8:00 am- Analysis

Good morning everyone! Unfortunately I wasn't able to trade yesterday because my internet was down the whole day. Hopefully, I'll get something good today :) The Euro is primed to make a big movement today since it had a narrow range during its session (only about 50 pips). However, there aren't really any "major" news reports coming out today so I'm not sure what would trigger a movement. 2 things could happen:

1. There will be hardly any movement and the price will range back and forth between the EU session high and low.
2. There will be a breakout on either side and we'll see some nice movement.

I definitely will NOT trade option 1. It's just not enough range to try and trade the bounce. I will only be looking for option 2. Once again, you can be aggressive and trade the initial breakout (if the price closes outside the high/low by at least 10 pips), or you can play it safe and wait for a good signal. The choice is up to you. Have a good day everyone and happy trading!

EUR/USD 9.06.05

5:40 pm- 1 trade won

Hello everyone. Just a small gain but still a winner. The signal came early today at 8:20am. I went long 3 lots at 2494 with a s/l at 2479 and my first target as 2503. My first target was hit, and I closed 2 lots and trailed my last stop by moving it to the low of every candle that made a new high. You can see that at about 8:50, the candle tested the EU session high but could not close above it. I held my position until the next candle which ended up being red (hinting that it was probably a sign of a bounce). I closed my last lot at 2501.

Results: +18 +7 -9(spread)= +16 pips












8:00 am- Analysis

Good morning everyone! Hope you all had a great weekend, and if you live in the US, hope you had a great Labor day. Thank you for all your support on Babypips. It shouldn't be too much longer before it is up. For those of you who are interested in the PDF, I have recorded your email addresses and will distribute it when the site is out.

Now for some trading! The Euro made about a 72 pip range during it's session. We're definitely starting to see more movement as we are moving out of this vacation season. Currently, the price is right in the middle of the hi/lo of the EU session so I'm pretty confident that it will eventually head back to either the high or the low. Just be sure to wait for a good signal. I'll try to post throughout the day. Happy trading everyone!

Babypips.com

For the past couple of months, me and my business partner have been developing a forex education website. The idea arose one day when we were reminiscing about the time when we first started learning about the forex. We use to scour the net, reading every article we could find. The only problem is that we had to get information from so many different sources, and some of the articles we would read would be too advanced for us. There was no sequential order that we could follow when trying to learn about this vast market. We had no guidance as to where to start and what we should learn next.

This is the basic premise of Babypips.com. The site is an education site that contains everything we have learned in our trading careers, but in an easy to follow, "sequential" order. It starts from the very basics of the forex, and guides the user to the most advanced forex topics. Hopefully, with our site, we can increase the learning curve for every forex beginner.

We want beginners to have an easier time learning than we did, and hopefully this site will accomplish that goal. There is going to be tons of free information, alot of which many people are charging ridiculous amounts for. We want our site to be the first place that forex beginners go for information and education.

The launch date for Babypips.com v.1 is probably going to be in a couple of weeks, and I wanted to invite all of you to the grand opening. I will be posting updates on this blog so you can be up to date on what's going on with Babypips.

With that said, I'd like to talk about my PDF. I know many of you want a copy, and trust me, you will get one for free (I promise), but it will be released through Babypips. We are going to use it as sort of a reward for people who complete all the lessons on our site. For everyone here, I am offering it to you without you having to go through all of that because I've been promising it to everyone for a long time now. All you have to do is visit the site :)

In future versions of Babypips, we are planning to have a live chat room where we can trade this system live. Only the people who have completed all the lessons (and everyone who has visited this blog up to this point), will be allowed to enter. However, this will be in a future version of the site.

If you would like to be one of the people who wants the PDF version of this system that I trade, simply leave a comment to this post, and I will jot your names down.

I'll keep updating as the site nears its completion :)

Results 8.29.05 - 9.02.05

It was a pretty good week. We're finally starting to see some movement. Next week should probably move just as much, if not more. Here are the results for the week:

Monday: UK Holiday
Tuesday: -57
Wednesday: +133
Thursday: +57
Friday: +25

Total: +158 pips

August Results: +353 pips

Another good month for me. Hopefully, the momentum will continue in September :) Monday is a U.S. holiday so I will not be trading. I will resume on Tuesday. Have a great weekend everyone!

EUR/USD 9.02.05

4:46 pm- 1 Trade Won

I was kind of disappointed with the lack of movement after the NFP, but hey I still got some pips off of it. There was a classic short signal right after the news came out and I entered 3 lots short at 2517 with a stop loss at 2548. My first target was for 14 pips and it was hit at 2503 at 930 am. I closed 2 lots and moved my stop to 2511 and was stopped out at the very next candle. So it wasn't a huge gain, but at least I closed the week off on a good note :)

Results: +28 +6 -9(spread)= +25 pips













8:00 am- Analysis

Good morning everyone! Euro made a huge range a 100 pip range last night. The movement has really picked up since last week. This is a good sign that the "dry spell" might be over. If you notice on the charts I didn't put any calculated targets. That is because the Euro has "technically" made all of it's movement already. Of course, this is not true, but as for a calculated target..I don't have any. NFP comes out, so I'm sure there will be plenty of movement. I think this report will affect the rest of the day's movement. If there happens to be a break of the EU session high, I think we'll see a movement at least to 2600. If there is a break of 2600, I think we'll see a very nice move up. However if the price cannot break R1, or the EU session high, then I think we'll see a bounce down back to the EU session low. Today I'll probably wait for a signal rather than a breakout, but we'll see what happens :) Happy trading everyone!

EUR/USD 9.01.05

5:42 am- 1 trade won

Today's win was a little nerve racking, but it ended up paying off nicely in the end. Sometimes I get so tempted to exit when my stop is about to get hit. I've been getting better at sticking to my system. You can see that a signal was generated at 8:40 am, and you would've profited nicely if you entered there. However, I did not enter at that point because the entry candle did not significantly close above the EU session high. Usually, when that happens, a bounce occurs. The very next candle DID close at least 10 pips above the EU session high and at that point I entered long at 2415. My stop loss was set at the low of the candle that last touched the 8wma at 2386.(this would've been the stop loss had you entered on the actual signal). My first target was 2430 based on the hi/lo of my entry candle and the candle that last touched the 8wma.

At about 9:20, it looked like I was about to get stopped out, but thankfully the price held ground and eventually skyrocketed at 10:00. My 1st, 2nd, AND 3rd targets were all hit in that one candle. I closed 2 positions at 2430 and moved my stop to breakeven (even though I really wanted to take all my profits). The next candle made a new high (barely) so I moved my stop to the low of that candle, and that is where I got stopped out on my last lot at 2451.

Results: +30 +36 -9(spread)= +57 pips












8:00 am- Analysis

Good morning everyone! The Euro made a decent sized move last night and is currently hanging around the high from the previous session. According to the 5 day average daily pip range, the Euro only has about 25 pips left of movement. If the Euro breaks my lower calculated target, I think we'll see a move down towards the low of the EU session. I think this is more risky and I will wait until I see an actual signal before trading short. For a long trade, I will either trade the breakout of the EU session high (if it closes at least 10 pips above it), or wait until I see a signal. There is a bunch of US news coming out and even though they aren't really major news reports, you never know how it might affect the price. There might be some surprises in the reports. I'll post throughout the day. Happy trading everyone!

EUR/USD 8.31.05

6:05 pm- 1 Trade won

What a great day today! The GDP was lower than expected and caused the Euro to skyrocket today. Just like in my analysis earlier, I had a feeling a breakout was going to occur. Usually when there is such a narrow pip range during the EU session, and big news comes out, it usually generates large movement. Today, I opted to take the aggressive route and entered at the close of the 10am candle. This was a huge break of the EU session high. My first target was 2280. I came up with that target by taking the high of my entry candle and subracting it from the low of the candle before it. I then divided that number by 2 and got 27. I added 27 to my entry which was at 2253 and that is how I got 2280. My first target was hit and I closed 2 lots. I moved my last lot's stop to the low of that candle with a 2nd target of 2300. My 2nd target was hit, and usually I would've closed my last lot, but it was a significant break of 2300 so I decided to just move my stop to the low of that candle. I kept moving my stop to the low of every candle that made a new high and finally ended up getting stopped out at 2341.

Today's Results: +54 +88 -9(spread) = +133 pips











There was actually a signal that was generated according to my FX10 tweaks. So even if you would've played the conservative route, you still would've made a profit because it hit it's first target.


8:00 am- Analysis

Good morning everyone! I hope we have a better day today. GDP comes out at 8:30 EDT so I probably won't trade until after the report. The Euro only made a 41 pip range during it's session so I think we'll see a breakout on either side of the hi/lo. If you want to be aggressive, go ahead and enter a trade if a candle CLOSES at least 10 pips past the hi/lo. Otherwise, just wait for the normal signal. I've been doing more testing and just by eyeballing it, it looks like you will be a winner most of the time if you trade the breakout. Just make sure it is a CLOSE past the hi/lo. I'll post throughout the day. Happy trading everyone!

EUR/USD 8.30.05

9:00 pm- 1 trade lost

Sorry I couldn't update earlier. My internet has been acting funny. Anyways, I was disappointed today as I thought I had a good trade. At around 8:20 am, I saw 2 consecutive lows and a break of the EU session low. As you can see, things did not go my way. Stop loss was at 2193 and with 3 lots short at 2174 that is -57 pips for the day. Oh well, you can't win them all. I'm happy that I stuck to my trading plan though. Hopefully tomorrow will be better :)











8:00 am- Analysis

Good morning everyone! The Euro made about a 54 pip range during it's session. Right now its 5 day daily average pip range is 91 which gives it about 37 pips of "juice" left. The Euro is hanging around it's low so we'll either see a continuation of the downtrend with a break of the low or a correction with a bounce. Just always remember to be patient and wait for a good signal. I'll be posting throughout the day. Happy trading everyone!

Day off

I've decided to take today off because of the bank holiday in the UK. Updates will resume as normal starting tomorrow. Have a great day everyone!

Weekend Analysis

This week hasn't been the prettiest, but it did move according to my charts from last weekend's analysis. Below is a 60 minute chart as of today but with my lines from last week. You can see that when the Euro broke the upper band of the downtrend it continued to move up. Granted, it wasn't a huge move up, but it did move about 100 pips.












This next chart shows the weekly high and low and where the price is at the moment. As you can see, there is no real trend direction. At the moment it looks like the Euro is bouncing off of the weekly high and could head back down towards the weekly low. However, a break in the weekly high could signal more upward movement for the rest of the week. I think the weekly high will be the make or break point for next week.

Results for 8.22.05 - 8.26.05

Another great week even though I only traded 2 days. In total, there were 3 trades and each were winners. This leaves me optimistic because this time is one of the hardest times to trade because of everyone's vacation time. I have a feeling we'll be making more trades in the next month.

Monday= No trades
Tuesday= No trades
Wednesday= +60 pips
Thursday= +33 pips
Friday= No trades

Total for the week= +93 pips

EUR/USD 8/26/05

No Trades

Hello everyone! Sorry it took me so long to update this post. I didn't see any good trades today. Although Greenspan made the Euro move, I didn't see any clear signals. There was a short signal but it didn't happen until around 1pm, which is beyond my trading time. I ended up going to happy hour and getting really drunk which is why I couldn't post yesterday. Actually, I could've posted but you might have had trouble reading it because it would look like this: wWHEfakdo awerl ERl ad =fas. Hope you all had a great trading week!

7:52 am- Analysis

Good morning everyone! Greenspan is speaking today at 10am EDT. I'm not sure what is going to happen but hopefully it will move the market. Fridays are also one of those tricky days so I'm going to be extra cautious today. The Euro made about a 44 pip range during it's session, which is usually narrow, but within the past few days, that's about normal. The 5 day daily average range is only 82 pips. I expect this to go back up after this week. Hopefully we'll have a good trade today, but I'm positive for the week so I don't want to force anything. Happy trading everyone!

EUR/USD 8/25/05

5:50 pm- 2 Trades won

On the first trade I kind of fibbed on my rules. There were 2 consecutive down candles but the first one did not touch the 8 WMA. The reason I still entered was because there was a good close below the EU session low (which happened to be my entry candle). I went short 3 lots at 2276 and closed 2 lots at my first target of 2267. My last lot got stopped out at B/E. Looking back, I think I should've closed my last lot after that candle because it was a reversal hammer.

My 2nd trade actually was a REAL signal. You can see 2 consecutive up candles, each with higher highs. AND, the first candle touched the 8 WMA. This was a perfect bounce trade. I entered 3 lots long at 2296. I closed 2 lots at my first target of 2306. My last lot ended getting stopped at 2306 as well.

Results:
1st trade= +18 +3 -9(spread)= +12 pips
2nd trade= +20 +10 -9(spread)- +21 pips
Total= +12 +21= +33 pips

If you think about it, that's pretty crappy considering I got 2 trades today. Ahh well, at least it wasn't a loss right? :)













7:50 am- Analysis

Good morning everyone! Let's hope some of that momentum yesterday rubs off on today :) So far, the setup looks good. There was a fairly narrow pip range during the EU Session (about 41 pips), so a breakout is more or less likely to happen. I don't think it will move as far as my calculated targets, but I do think it will break out one way or the other. If it doesn't then DON'T TRADE! It's too narrow of a range to try to trade a bounce. So today, the key levels will be 2321 and 2280. If the EURO closes beyond those prices I'd say we'd have a trade. As far as news, I don't see anything major so if the Euro doesn't break the hi/lo, I wouldn't be too surprised. Have a good day everyone and happy trading!

EUR/USD 8/24/05

6:30 pm- 1 Trade won

Finally we had some movement today! If you know how I trade, then you know that I normally don't like trading the news. In fact, I usually wait about 20-30 minutes after the news until I look for trades. Today was an exception though. The news candle made a perfect entry criteria for my system. You'll notice that there were 2 consecutive green candles, both with higher highs. The first candle also touched the 8 WMA.

If you've read how I calculate my targets, then you'll see that my first target was hit at 2260. I closed 2 lots out, trailed my last lot's stop, and finally got stopped out at 2269.

Result: +40 +29 -9(spread)= +60 pips












Another reason I liked the trade is because the US Durable Goods report dropped lower than forecasts. When something unexpected happens, usually a good move will follow.


7:57 am- Analysis

Good morning everyone! Ok, we are still at ZERO trades for this week. This week has just been ranging heavily! I'm not going to try and force a trade (even though it's tough) but I will still look for signals. During these slow weeks, remember to be extra patient because the market is very sketchy right now. After this week, things should start to go back to normal, but for now just be very cautious. Here are some trades I see just from glancing at my chart. I'd start looking short if the Euro goes below S1 at 2197 and target 2176. If the Euro breaks the EU session high, I'd look long at 2215 and target 2226. Of course, this doesn't even factor the FX10 criteria, but you get the idea. Happy trading everyone!