Hello everyone! Once again, I am writing you all from an outside internet source as my personal internet is still being a pain in my @ss. I haven't been able to trade this whole week, but just by glancing at the charts, I know I would've lost 1 trade today, but I still would've ended positive for the week. With that said, there are no results for this week, but I promise you that I will be up and running again by Monday because this week has just been a nightmare for me. One way or the other, I will trade!
Thank you all for your comments regarding the search terms, and for being patient as we are nearing the launch for BabyPips! We are in the final testing phase and should be ready to launch very soon (provided nothing unexpected happens). I've received hundreds of emails from you that are requesting the system so if you sent me an email, I DO have it. Remember, that once the site is launched, you will no longer be able to get the PDF. Only those who have emailed me before the site launch will receive the system. It's just my little way of saying thank you to all of you who have been supporting this blog. Hope you all had a great week and I'll talk to you soon!
Friday, September 30, 2005
Thursday, September 29, 2005
OMG what is wrong with blogger?
11:20 am- %@$#$
Hello everyone. I am so frustrated right now with Blogger. I had a long post this morning and when I clicked to upload it, it gave me some kind of error message and erased my post. AHHH! Sorry for my anger, but I've been so anxious to trade and post that it is driving me crazy. I'm having trading withdrawal, haha. It's like a drug. I need my addiction! Anyways, here were the key levels from this morning (not that it helps anyone now) :
EU Session High: 2075
EU Session Low: 2039
Calculated target 1: 2103
Calculated target 2: 1975
As of now, there was 1 trade already won signaled by a breakout AND a signal. I will post it later, provided Blogger does not act up. It's still not 12pm yet so the Euro could still fall to my calculated target 2 or just stay where it's at right now. If you profited from that first signal, you might just want to call it a day, considering what a crappy week we've had :)
Hello everyone. I am so frustrated right now with Blogger. I had a long post this morning and when I clicked to upload it, it gave me some kind of error message and erased my post. AHHH! Sorry for my anger, but I've been so anxious to trade and post that it is driving me crazy. I'm having trading withdrawal, haha. It's like a drug. I need my addiction! Anyways, here were the key levels from this morning (not that it helps anyone now) :
EU Session High: 2075
EU Session Low: 2039
Calculated target 1: 2103
Calculated target 2: 1975
As of now, there was 1 trade already won signaled by a breakout AND a signal. I will post it later, provided Blogger does not act up. It's still not 12pm yet so the Euro could still fall to my calculated target 2 or just stay where it's at right now. If you profited from that first signal, you might just want to call it a day, considering what a crappy week we've had :)
Wednesday, September 28, 2005
Update Post
Hey everyone! Sorry for the lack of posts lately. My internet has been a pain in the @ss. I've also been focusing alot of my time on BabyPips. Anyways, the posts will continue as normal starting tomorrow. These past few days have been crap anyways. No trades for me, even though there were some valid signals and you would've made a small profit yesterday. Today was very ugly and there were no signals given today. I will resume the normal routine tomorrow and hopefully the market will move.
I NEED YOUR HELP!
For those of you who regularly visit this blog, I would like to ask for your help with BabyPips. I am focusing on optimizing our page for certain keywords so that if someone were to type in a search term in Google, our site would come up near the top.
With that said, if you are a beginner to the forex, what search terms did you use on search engines when you were looking for information on the forex? If you are forex veteran or intermediate, do you remember what search terms you used when you were researching the forex?
It is important for us to know what terms beginners are using when they are looking for information and education on the forex because once we know what people are typing in, we can optimize our site to match those terms.
So, I'm humbly asking for all of your help. If you could post a comment to this post and let me know those search terms you used when you first started researching the forex, I would greatly appreciate it!
Thanks everyone for all your support. I've received many comments from people showing their support for BabyPips and I want everyone to know that I really appreciate it. See you all tomorrow!
I NEED YOUR HELP!
For those of you who regularly visit this blog, I would like to ask for your help with BabyPips. I am focusing on optimizing our page for certain keywords so that if someone were to type in a search term in Google, our site would come up near the top.
With that said, if you are a beginner to the forex, what search terms did you use on search engines when you were looking for information on the forex? If you are forex veteran or intermediate, do you remember what search terms you used when you were researching the forex?
It is important for us to know what terms beginners are using when they are looking for information and education on the forex because once we know what people are typing in, we can optimize our site to match those terms.
So, I'm humbly asking for all of your help. If you could post a comment to this post and let me know those search terms you used when you first started researching the forex, I would greatly appreciate it!
Thanks everyone for all your support. I've received many comments from people showing their support for BabyPips and I want everyone to know that I really appreciate it. See you all tomorrow!
Monday, September 26, 2005
EUR/USD 9.26.05
8:00 am- Analysis
Good morning everyone! As I speak, it looks like the Euro is forming a classic signal. However, it is only a few pips away from the EU session low, so I probably won't enter. The German CPI comes out today, so it will be interesting to see what that does. Remember that Mondays are notorious for being unpredictable so be extra cautious when trading today. I'll try to post throughout the day if I see any trades. Happy trading everyone!
Key Levels:
EU session High: 2066
EU session Low: 2018
Calculated Target 1: 2082
Calculated Target 2: 2005
Good morning everyone! As I speak, it looks like the Euro is forming a classic signal. However, it is only a few pips away from the EU session low, so I probably won't enter. The German CPI comes out today, so it will be interesting to see what that does. Remember that Mondays are notorious for being unpredictable so be extra cautious when trading today. I'll try to post throughout the day if I see any trades. Happy trading everyone!
Key Levels:
EU session High: 2066
EU session Low: 2018
Calculated Target 1: 2082
Calculated Target 2: 2005
Sunday, September 25, 2005
Saturday, September 24, 2005
Babypips Update
Ok everyone. I've received emails from all of you who want the system, so I just want to re-assure you that I am getting your emails and am making the list. We have just finished testing our coding for the website and are now in the phase of putting our content up. At best, we will have the site up by the end of this weekend. At worst, it will be up by the end of the week. Thank you for all your patience and I'll definitely let you know when the site is up.
If you are new to the blog and want the system, click on the "My system" link up top to find out how to get your copy. Have a great weekend everyone!
If you are new to the blog and want the system, click on the "My system" link up top to find out how to get your copy. Have a great weekend everyone!
Results 9.19.05 - 9.23.05
Friday, September 23, 2005
EUR/USD 9.23.05
1 Trade Won
It was a fairly easy trading day today. There was a clear breakout of the EU session low at 8:40 am. I entered short 3 lots at 2095 with a s/l at 2115 and a first target of 2083. My first target was hit at 9:00 and I closed 2 lots and moved my last lots stop to the high of that candle at 2086. I continued to move my stop to the high of every candle that made a new low and eventually got stopped out at 2072.
Result: +24 +33 -9(spread)= +48 pips
8:00 am- Analysis
Good morning everyone! So far it's been a good week even though I've only had 2 days worth of trades. As of now, I am up 100+ pips so I'm feeling pretty good. With that said, I'm going to be very cautious today as I trade because I don't want to lose my profits for the week. However, if I see a good signal and/or breakout, I will take a trade. Just remember to be patient, especially if you're up for the week. No sense in trying to force a trade if you're already positive. There are no major news reports coming out so who knows if the market will even move. I'll post throughout the day if I see anything. Happy trading everyone!
Key Levels:
EU Session high: 2167
EU Session low: 2107
Calculated target 1: 2152
Calculated target 2: 2062
It was a fairly easy trading day today. There was a clear breakout of the EU session low at 8:40 am. I entered short 3 lots at 2095 with a s/l at 2115 and a first target of 2083. My first target was hit at 9:00 and I closed 2 lots and moved my last lots stop to the high of that candle at 2086. I continued to move my stop to the high of every candle that made a new low and eventually got stopped out at 2072.
Result: +24 +33 -9(spread)= +48 pips
8:00 am- Analysis
Good morning everyone! So far it's been a good week even though I've only had 2 days worth of trades. As of now, I am up 100+ pips so I'm feeling pretty good. With that said, I'm going to be very cautious today as I trade because I don't want to lose my profits for the week. However, if I see a good signal and/or breakout, I will take a trade. Just remember to be patient, especially if you're up for the week. No sense in trying to force a trade if you're already positive. There are no major news reports coming out so who knows if the market will even move. I'll post throughout the day if I see anything. Happy trading everyone!
Key Levels:
EU Session high: 2167
EU Session low: 2107
Calculated target 1: 2152
Calculated target 2: 2062
Thursday, September 22, 2005
EUR/USD 9.22.05
5:20 pm- 2 trades won
A beautiful trading day today. Just like I suspected, the Euro finally made a breakout of the EU session hi/low. The first signal that was generated wasn't a great looking trade but it still had room before it would test the EU session low, so I decided to enter. I entered 3 lots short at 2209 with a s/l at 2223 and a first target of 2202. My target was hit so I closed 2 lots and moved my stop to breakeven and then ended up getting stopped out on the very next candle. I netted a whopping 5 pips when you factor in the spreads. The 2nd signal I was a little hesitant about because there was an FX10 signal and my criteria was met BUT it didn't significantly close below the EU session low. Also, when I got stopped out on my first trade, the Euro bounced off of the low so I was still skeptical. Fortunately, the next candle did end up closing 10 pips below the EU session low and I entered 3 lots short at 2187 with a s/l at 2213 and a first target of 2171. My first target was hit and I closed 2 lots and moved my stop to b/e. I then proceeded to move my stop to the high of every candle that made a new low. I ended up getting stopped out at 2144 at 10:50. Overall, I'd say it was a great day today. Hopefully, the movement will continue.
Results
Trade 1: +14 +0 -9(spread)= +5 pips
Trade 2: +32 +43 -9(spread)= +66 pips
Total: +71 pips
8:00- Analysis
Good morning everyone! Sorry I didn't do a 2nd post yesterday, but honestly, there was really nothing to say. If you watched the market yesterday you know what I mean. I am definitely anticipating a trade today as the Euro only made a 34 pip range during it's session. I consider this to be a "squeeze". During busy seasons of the year, usually 40-45 pips or less can be considered a squeeze but lately that has been the norm for the Euro. Whenever there is a tight range in the EU session, it usually means there will be a breakout during the US session. I say "usually" because as you know, the market doesn't always act like we expect it to. There aren't any strong news reports coming out today so that might prevent any movement, and also, hurricane Rita is a huge storm now and traders might be waiting until after it passes to see the effect on the US economy. After Katrina, Greenspan said that it was only a minor "setback" in our economy but who knows what will happen after Rita. I also think this is why the Euro has not dropped even with the interest rate increase. This is a time of uncertainty right now, so we'll have to be on our toes. Happy trading everyone!
Key Levels:
EU Session high: 2234
EU session low: 2200
Calculated target 1: 2296
Calculated target 2: 2172
A beautiful trading day today. Just like I suspected, the Euro finally made a breakout of the EU session hi/low. The first signal that was generated wasn't a great looking trade but it still had room before it would test the EU session low, so I decided to enter. I entered 3 lots short at 2209 with a s/l at 2223 and a first target of 2202. My target was hit so I closed 2 lots and moved my stop to breakeven and then ended up getting stopped out on the very next candle. I netted a whopping 5 pips when you factor in the spreads. The 2nd signal I was a little hesitant about because there was an FX10 signal and my criteria was met BUT it didn't significantly close below the EU session low. Also, when I got stopped out on my first trade, the Euro bounced off of the low so I was still skeptical. Fortunately, the next candle did end up closing 10 pips below the EU session low and I entered 3 lots short at 2187 with a s/l at 2213 and a first target of 2171. My first target was hit and I closed 2 lots and moved my stop to b/e. I then proceeded to move my stop to the high of every candle that made a new low. I ended up getting stopped out at 2144 at 10:50. Overall, I'd say it was a great day today. Hopefully, the movement will continue.
Results
Trade 1: +14 +0 -9(spread)= +5 pips
Trade 2: +32 +43 -9(spread)= +66 pips
Total: +71 pips
8:00- Analysis
Good morning everyone! Sorry I didn't do a 2nd post yesterday, but honestly, there was really nothing to say. If you watched the market yesterday you know what I mean. I am definitely anticipating a trade today as the Euro only made a 34 pip range during it's session. I consider this to be a "squeeze". During busy seasons of the year, usually 40-45 pips or less can be considered a squeeze but lately that has been the norm for the Euro. Whenever there is a tight range in the EU session, it usually means there will be a breakout during the US session. I say "usually" because as you know, the market doesn't always act like we expect it to. There aren't any strong news reports coming out today so that might prevent any movement, and also, hurricane Rita is a huge storm now and traders might be waiting until after it passes to see the effect on the US economy. After Katrina, Greenspan said that it was only a minor "setback" in our economy but who knows what will happen after Rita. I also think this is why the Euro has not dropped even with the interest rate increase. This is a time of uncertainty right now, so we'll have to be on our toes. Happy trading everyone!
Key Levels:
EU Session high: 2234
EU session low: 2200
Calculated target 1: 2296
Calculated target 2: 2172
Wednesday, September 21, 2005
EUR/USD 9.21.05
8:00 am- Analysis
Good morning everyone! It still boggles my mind that the Euro continues to rise even with the uncertainty of their election, along with high oil prices, and not to mention the US interest rate increase. Even with all those things going against it, traders are still pushing it up. I'll never understand these weird happenings :) Thankfully, I can still make money either way. The Euro made a 55 pip range and according to the 5 day, average daily pip range, has about 3o pips of juice left. Hopefully we'll have some good movement today. I don't think the Euro has moved enough these past few days so I'm still expecting a big move to happen some time soon. Just be sure to be patient :) Happy trading everyone.
Key Levels:
EU session high: 2236
EU session low: 2181
Calculated target1: 2266
Caluclated target2: 2206
Good morning everyone! It still boggles my mind that the Euro continues to rise even with the uncertainty of their election, along with high oil prices, and not to mention the US interest rate increase. Even with all those things going against it, traders are still pushing it up. I'll never understand these weird happenings :) Thankfully, I can still make money either way. The Euro made a 55 pip range and according to the 5 day, average daily pip range, has about 3o pips of juice left. Hopefully we'll have some good movement today. I don't think the Euro has moved enough these past few days so I'm still expecting a big move to happen some time soon. Just be sure to be patient :) Happy trading everyone.
Key Levels:
EU session high: 2236
EU session low: 2181
Calculated target1: 2266
Caluclated target2: 2206
Tuesday, September 20, 2005
EUR/USD 9.20.05
7:10 pm- 1 Trade won
Like I thought, the Euro did not move during the EU session so I waited until the Fed met. After they announced the rate decision, a short signal was generated along with a break of the EU session low which led me to go short. I entered 3 lots short at 2134 and my first target was hit at 4:20pm at 2112. I closed 2 lots and moved my stop to the high of that candle at 2221. I eventually got stopped out on my last lot at 2221.
Results: +44 +13 -9(spread)= +48 pips
8:00 am- Analysis
Good morning everyone! Today is the big day: Interest Rate decision. I'm not sure if we'll see any movement before then because everyone will be waiting to see what happens. ForexFactory said that there is a 90% chance the rates will increase to 3.75% so there's a good chance the Euro will go down. If there is no movement from 8-12, I might trade when the Fed speaks at 2:15 pm EST. This will most likely be a breakout trade if the Euro has not broken out of last night's range by then. After today, I think we will start to see some nice movement, at least for the rest of this week. Happy trading everyone!
Key Levels:
EU session high: 2183
EU session low: 2142
Calculated target 1: 2226
Calculated target 2: 2099
Like I thought, the Euro did not move during the EU session so I waited until the Fed met. After they announced the rate decision, a short signal was generated along with a break of the EU session low which led me to go short. I entered 3 lots short at 2134 and my first target was hit at 4:20pm at 2112. I closed 2 lots and moved my stop to the high of that candle at 2221. I eventually got stopped out on my last lot at 2221.
Results: +44 +13 -9(spread)= +48 pips
8:00 am- Analysis
Good morning everyone! Today is the big day: Interest Rate decision. I'm not sure if we'll see any movement before then because everyone will be waiting to see what happens. ForexFactory said that there is a 90% chance the rates will increase to 3.75% so there's a good chance the Euro will go down. If there is no movement from 8-12, I might trade when the Fed speaks at 2:15 pm EST. This will most likely be a breakout trade if the Euro has not broken out of last night's range by then. After today, I think we will start to see some nice movement, at least for the rest of this week. Happy trading everyone!
Key Levels:
EU session high: 2183
EU session low: 2142
Calculated target 1: 2226
Calculated target 2: 2099
Monday, September 19, 2005
EUR/USD 9.19.05
6:27 pm- No trades
Once again, Mondays are crap. I swear, I am so anxious to trade. I have big expectations for tomorrow because these last days have just been crap. The EU session has shown some movement, but the US session has been undecided for a while now. I'm thinking that tomorrow's interest rate decision will stir things up.
Anyways, there was almost a signal at 8:50, but the stochastics was still flat. There was no clear direction for stochastics and therefore wasn't a valid trade. Another fakeout trade was the breakout that occured at 11:00. That candle did not close at least 10 pips above the EU session high so there was no trade there. As you can tell, the price just bounced back down. Oh well, hopefully the rest of the week will be better.
8:00 am- Analysis
Good morning everyone! Hope you all had a great weekend. I have a feeling this week is going to show plenty of movement, especially compared to last week. The uncertainty of the German leadership is going to make this Euro drop. Also, with the US interest rate decision, which is almost guaranteed to rise to 3.75%, should push the Euro down even lower. I definitely have a down bias for the Euro this week. Remember to wait for a good signal or a clean break. Happy trading everyone!
Here are the key levels:
EU Session High: 2153
EU Session Low: 2100
Calculated Target 1: 2190
Calculated Target 2: 2108
Once again, Mondays are crap. I swear, I am so anxious to trade. I have big expectations for tomorrow because these last days have just been crap. The EU session has shown some movement, but the US session has been undecided for a while now. I'm thinking that tomorrow's interest rate decision will stir things up.
Anyways, there was almost a signal at 8:50, but the stochastics was still flat. There was no clear direction for stochastics and therefore wasn't a valid trade. Another fakeout trade was the breakout that occured at 11:00. That candle did not close at least 10 pips above the EU session high so there was no trade there. As you can tell, the price just bounced back down. Oh well, hopefully the rest of the week will be better.
8:00 am- Analysis
Good morning everyone! Hope you all had a great weekend. I have a feeling this week is going to show plenty of movement, especially compared to last week. The uncertainty of the German leadership is going to make this Euro drop. Also, with the US interest rate decision, which is almost guaranteed to rise to 3.75%, should push the Euro down even lower. I definitely have a down bias for the Euro this week. Remember to wait for a good signal or a clean break. Happy trading everyone!
Here are the key levels:
EU Session High: 2153
EU Session Low: 2100
Calculated Target 1: 2190
Calculated Target 2: 2108
Alba Learn N' Trade™
Live Online Training Room
Sometimes things are best explained cyber-face to cyber-face.
Learn how to trade the Alba System with the BabyPips.com trading team (the “FX-Men”) without ever having to roam far from your desktop or laptop. Oh and it’s FREE.
The Alba System manual
Prior to joining us in the online training sessions, you will receive The Alba System manual. The manual will show how to trade The Alba System step-by-step complete with detailed explanations and chart examples.
4 hours of live trading for three days straight
We will trade the Alba System live with you, from 8am – 12pm EST, for three straight days. Bring your demo or live account and be ready to trade.
Our Learn N' Trade intense training sessions will consist of live commentary via chat as well as live charting via screen-sharing with complete interactivity. Our entire desktop is shared in real-time. You will feel like you’re in the same room. You will see our charts. You will see our trading station. You will see us actually enter and exit trades. You will have the ability to “point out” on the chart any questions you may have.
10 people only
Each live trading session will be small. There will only be a maximum of 10 people in the chat room. Ten people will be the maximum allowed so we can provide the best possible group learning environment and have more time to spend with each trader individually if necessary.
Team trading
Near the end of the training, we hope to set you up to trade as a team or multiple teams. Team trading will make a huge difference in your success. You will make fewer mistakes, break less rules, and be better off than if you traded solo. If you don’t want to trade in a team, that is okay also. It's optional. More information will provided about team trading when you sign up.
Email and instant message support
After finishing your three day Alba Learn N' Trade live online training, you will know the Alba System and be able to easily trade it. If you’re still having some trouble though, that’s okay. We will work with you for as long as it takes, by instant message and/or email, until you are comfortable trading the Alba system on your own or with your team.
And it's FREE!
You were probably wondering how much this would cost?
Well it's FREE.
What’s the catch?
The catch is…BabyPips.com is affiliated as an IB for the largest FX broker on the market, FXCM, and you’ve got to open a real trading account with them and add www.BabyPips.com as the referral.
That's it!
You pay NOTHING extra adding us as a referral. Nada. Rien. Nichts. Niente. Niets. There’s literally NO COST TO YOU.
And we're not going to try and lie to you (like other companies).
We do a get a small referral fee when you do this.
We're here to help new traders not rob them like other companies who sell their systems for an arm and a leg.
We wanted to provide a way for traders to acquire and learn our system without them having to pay any out-of-pocket costs while at the same time be compensated to cover our costs to provide this training and also for the many months and gazillion hours spent on developing and refining the system to be the simple and profitable system it is today. And we believe this is the best way to do that. Plus it's just not cool to freeload off someone else's hard work.
If you were planning to open a Forex broker account anyway, instead of just getting a plain ol' account, now you'll get a new account AND get Alba Learn N’ Trade live online training plus email and instant message support until you can trade The Alba System proficiently…ALL FOR FREE.
It's a win-win situation for everyone involved.
Feel free to look at our trade record if you want to see how Alba has done since July 2005.
If you follow my trading journal, you'll see that the Alba System has:
- Never had two consecutive trade losses
- Never had an unprofitable month
- Only four unprofitable weeks
Now I'm not claiming that these results will remain like this forever. If I did, that would either make me an idiot or another snakeoil salesman. I'm just trying to make a point that the Alba System is a solid system that you should try and see if it's a good fit for you.
If you've read the manual, you'll have learned that the Alba System will not get you rich overnight. But by using the techniques described in The Alba System manual and following our live training guidelines, you will learn how to trade Forex for a steady income.
If you're interested in learning more or simply have any questions, objections, comments, or Christmas gift requests, email me at bigpippin@babypips.com with the subject line “Alba Learn N' Trade”. We'd love to hear from you! (*Note: Please do not try to open an account with FXCM on your own. It will just make the process slower. Be sure to send me an email if you would like to sign up. Thanks!)
*If you are interested in alternative options to receiving the Alba system instead of signing up with FXCM, please send me an email at bigpippin@babypips.com with the subject line "Alba alternative options".
Risk Disclosure
There is considerable exposure to risk in any Forex transaction. These risks include, but are not limited to the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of a currency. The risk of loss in trading Forex can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial situation. It is important that you are aware of the following:
- If you make a foreign exchange transaction, you may sustain a total loss of the premium and all transaction costs.
- Under certain market conditions you may find it difficult or impossible to liquidate a position. This can occur, for example, when a market makes an extreme move during a news announcement.
- The placement of contingent orders by you or your trading advisor, such as “Stop Loss” or “Limit” orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.
- Past results of the Alba System, or any other trading system, is no guarantee of future results.
- This brief statement cannot disclose all the risks and other significant aspects of the Forex market. You are encouraged to do your own research to ensure that you understand all of the risks before you attempt to trade.
Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.
Sunday, September 18, 2005
Results for 9.12.05 - 9.16.05
Here are this week's results. It was such a boring week. I'm sure things will be different this week as the US interest rate decision will be made on Tuesday. I'm expecting big movements.
Monday: No trades
Tuesday: No trades
Wednesday: +18
Thursday: No trades
Friday: +9
Result: +27 pips
Very very crappy, but at least it was a positive week :)
Monday: No trades
Tuesday: No trades
Wednesday: +18
Thursday: No trades
Friday: +9
Result: +27 pips
Very very crappy, but at least it was a positive week :)
Friday, September 16, 2005
EUR/USD 9.16.05
9/17- 1 Trade won
Once again, I'm sorry for the late update. I swear, for some reason on Friday when I'm done with everything, I don't even like thinking about charts :) Anyways, this was a very small but fairly easy trade. I took this signal because of the 2 lows and also because it was a good break of the EU session low. I entered 3 lots short at 2228 with a s/l at 2247 and a target of 2219. My target was hit at 9 am and I closed 2 lots and moved my last lots stop to b/e. Normally I would've moved my last lots stop to the high of the candle that hit my target but the high would've been higher than my original entry point. That's why I just moved it to breakeven.
Results: +18 +0 -9(spread) = +9 pips
8:00 am- Analysis
Good morning everyone! The Euro made a 50 Pip range last night and is currently hanging around the low. It still boggles my mind as to why the Euro has not moved at all this week. My only guess is that people are waiting for the interest rate decision next Tuesday. It's also strange because the GBP made a nice move during it's session 2 nights ago. I really don't know what to expect today because this whole week has been crap, but I will be patient and wait for a good signal or a nice breakout. The TIC data comes out today, but we'll see if it even moves the market. If you don't feel comfortable trading today and want to take today off, I don't blame you. It might even save you from making an unnecessary trade. I, on the other hand, will trade if I see something good because I'm just crazy like that :) Happy trading everyone!
Once again, I'm sorry for the late update. I swear, for some reason on Friday when I'm done with everything, I don't even like thinking about charts :) Anyways, this was a very small but fairly easy trade. I took this signal because of the 2 lows and also because it was a good break of the EU session low. I entered 3 lots short at 2228 with a s/l at 2247 and a target of 2219. My target was hit at 9 am and I closed 2 lots and moved my last lots stop to b/e. Normally I would've moved my last lots stop to the high of the candle that hit my target but the high would've been higher than my original entry point. That's why I just moved it to breakeven.
Results: +18 +0 -9(spread) = +9 pips
8:00 am- Analysis
Good morning everyone! The Euro made a 50 Pip range last night and is currently hanging around the low. It still boggles my mind as to why the Euro has not moved at all this week. My only guess is that people are waiting for the interest rate decision next Tuesday. It's also strange because the GBP made a nice move during it's session 2 nights ago. I really don't know what to expect today because this whole week has been crap, but I will be patient and wait for a good signal or a nice breakout. The TIC data comes out today, but we'll see if it even moves the market. If you don't feel comfortable trading today and want to take today off, I don't blame you. It might even save you from making an unnecessary trade. I, on the other hand, will trade if I see something good because I'm just crazy like that :) Happy trading everyone!
Thursday, September 15, 2005
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!
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!
Wednesday, September 14, 2005
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!
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!
Tuesday, September 13, 2005
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!
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!
Monday, September 12, 2005
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.
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.
Saturday, September 10, 2005
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 :)
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 :)
Friday, September 09, 2005
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!
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!
Thursday, September 08, 2005
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!
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!
Tuesday, September 06, 2005
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!
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!
Saturday, September 03, 2005
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 :)
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!
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!
Friday, September 02, 2005
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!
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!
Thursday, September 01, 2005
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!
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!
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