It's Official
Yes, that's right. BabyPips.com is now officially open and ready to serve the forex community! If you visit BabyPips and know some people that might find the site useful, please spread the word and let them know that BabyPips is a good resource for them. We want to spread the BabyPips name out like a virus and infect people with free, unbiased trading education :)
I really want to thank everyone that has been supporting me on my blog and through email. All your comments mean alot to me and has kept me motivated to work on the site. That is why I am happy to give you all "The Alba System". It's not much, but it's just my way of saying thanks for all your support.
For those of you who emailed fr1edmango@yahoo.com up until yesterday requesting the system, you should've received an email from me yesterday with final instructions on how to get the PDF. The fact that alot of people are following those directions tells me that you all did get that email. I just want to remind you that if you need to contact me, I will no longer be using that email address. You can click on the "Contact" page of this blog to find out how to reach me.
More About BabyPips
Yes the site is up now, but there is still so much more to come. We have alot of things going on behind the scenes so by signing up for our newsletter you will get the first alert on when new updates are made to the site. Trust me, we have big plans for BabyPips. Version 2.0 is already underway.
Chart Analysis
With the exception of today and possibly tomorrow, I will still be doing my normal chart analysis and posts. I will be extremely busy today and tomorrow as I will be distributing "The Alba System" to all those who signed up. However, after that, the charts should continue as normal.
***BONUS***
On BabyPips.com I'd like you to visit our chart analysis page especially before each new trading week. PipDaddy has written and will continue to write a comprehensive weekly analysis of either the Euro and/or the Cable. This weekly analysis is GREAT for looking at the possible movements of those pairs for the upcoming week. PipDaddy locked himself in his office for 4 hours just to write it (what a nerd). I think PipDaddy likes charts more than he likes women, so it would only benefit you to visit his chart analysis page to see what an obsessive chart guru like PipDaddy has to say about the markets :) I tease him because, well, it's my blog and I can do so if I want, hahahaha. I hope he reads this so I can laugh at him.
Anyways, if you think we joke around too much, then you're absolutely right. The BabyPips team, also known as the "FX-Men" (get it?) are always looking to have fun while learning this crazy market. Although we take our trading very seriously, we also like to joke around and hopefully you can put up with our humor :)
Final Word
Starting today, anyone that emails me for the PDF will not be able to get a copy. The PDF was meant to be an incentive for those who supported this blog and BabyPips up until this point. I just wanted to throw that out there so you don't wonder why I don't send you the PDF when you email me. I know I sound like a butthole but I have to be fair to the people that have been supporting me up until this point. Thanks everyone! You mean the world to me!
HAPPY TRADING and if you haven't already done so check out www.BabyPips.com
Monday, October 31, 2005
Saturday, October 29, 2005
This week's results + BabyPips update
This week would've been AWESOME if it wasn't for that huge loss I had on Thursday. Oh well, you can't win them all, and the good news is that I still finished positive for the week.
This week's results:
Monday: +30
Tuesday: +80
Wednesday: No trades
Thursday: -108
Friday: +43
Total: +45 pips
BabyPips Update:
Ok......the much anticipated BabyPips site is launching this Tuesday! I know it seems like forever, but we are finally ready to launch. For those of you who have sent me your emails regarding the system, your patience will finally pay off :) Remember that only the people who email me up until Monday will be able to get the PDF.
Once the site is launched, if you were one of the people who emailed me, all you have to do is visit our site and register for our newsletter by using the same email address you used when you emailed me requesting the system. Once you sign up for the newsletter, you will receive your copy of the PDF.
I'm excited to share this system with everyone and I hope you all can benefit the way I have. Remember, the system might not be the one for you. The most important thing for you to do as a trader is to find or create a system that best fits your trading personality and style. Once you do this, believe me, you will have so much more fun trading than you ever thought possible. Happy trading everyone and have a great weekend!
This week's results:
Monday: +30
Tuesday: +80
Wednesday: No trades
Thursday: -108
Friday: +43
Total: +45 pips
BabyPips Update:
Ok......the much anticipated BabyPips site is launching this Tuesday! I know it seems like forever, but we are finally ready to launch. For those of you who have sent me your emails regarding the system, your patience will finally pay off :) Remember that only the people who email me up until Monday will be able to get the PDF.
Once the site is launched, if you were one of the people who emailed me, all you have to do is visit our site and register for our newsletter by using the same email address you used when you emailed me requesting the system. Once you sign up for the newsletter, you will receive your copy of the PDF.
I'm excited to share this system with everyone and I hope you all can benefit the way I have. Remember, the system might not be the one for you. The most important thing for you to do as a trader is to find or create a system that best fits your trading personality and style. Once you do this, believe me, you will have so much more fun trading than you ever thought possible. Happy trading everyone and have a great weekend!
Forex Trading- Friday's Trade won
Hello everyone. I just wanted to make an update from yesterday's trade since I wasn't able to post it yesterday. There was a classic Alba breakout at 8:40 am EDT so I entered 3 lots short at 2108 with a stop at 2144 and a first target at 2089. My target eventually hit at 11:10 am and I closed 2 lots and moved my stop to the high of that candle which was 2094. Twenty minutes later I was stopped out on my last lot at that price. I did miss the rest of that move which stinks but if you look at the chart, the price does move near my original calculated target for the day. I've been working on a new exit strategy which will fine tune my last lot's exit, but it's still in it's testing phase right now. It involves some new indicators and so far, it's been working out for me. I want to test it some more before making it public. Here are the results for Friday:
Results: +38 +14 -9(spread)= +43 pips
Results: +38 +14 -9(spread)= +43 pips
Friday, October 28, 2005
Forex Trading 10/28/05
8:00 am- Analysis
Good morning everyone! Let's hope for a much better day than yesterday :) The Euro only made a 39 pip range last night so I have a feeling we'll see some pretty good movement today. It's been a volatile week for the Euro so I'm hoping the volatility will continue into today. The GDP deflator comes out today at 8:30 EDT so avoid that time when you trade. I think we'll see a breakout before we see an Alba signal so I would keep my eye out for that. Remember to be patient and wait for a good break and/or signal. Happy trading :)
Key Levels:
EU Session High: 2169
EU Session Low: 2130
Calculated Target 1: 2221
Calculated Target 2: 2039
*For some reason I am getting errors when I try to upload the chart. I think there is something wrong with Blogger at the moment. I'll post the chart as soon as it starts working again.
Good morning everyone! Let's hope for a much better day than yesterday :) The Euro only made a 39 pip range last night so I have a feeling we'll see some pretty good movement today. It's been a volatile week for the Euro so I'm hoping the volatility will continue into today. The GDP deflator comes out today at 8:30 EDT so avoid that time when you trade. I think we'll see a breakout before we see an Alba signal so I would keep my eye out for that. Remember to be patient and wait for a good break and/or signal. Happy trading :)
Key Levels:
EU Session High: 2169
EU Session Low: 2130
Calculated Target 1: 2221
Calculated Target 2: 2039
*For some reason I am getting errors when I try to upload the chart. I think there is something wrong with Blogger at the moment. I'll post the chart as soon as it starts working again.
Thursday, October 27, 2005
Forex Trading 10/27/05
9:35 pm- 1 Big FAT loss!
As I am writing this I am cringing. Today was a painful day for the Alba system. After the durable goods report (which was much lower than expected) the Euro made an Alba system AND at the same time broke out above the EU session high. A high percentage of the time, this is a very good sign of a winning trade, but today was not one of those times. As it turns out, the Euro then proceeded to fall back down and stay around the EU session high. Needless to say I lost a lot of pips because since the breakout was so high, my stop was fairly big. My stop loss was set at 2130 and sure enough, I got stopped out on all 3 of my lots for a whopping loss of 108 pips. So much for that great week right? :) I'm not complaining because I know I have to lose sometimes but that is why I practice good money management, and I am VERY glad I do, especially after today. I also trust my system, so I know that this will not happen all the time. Take a deep breath....AHHHH! Tomorrow will be a new day :)
Results: -108 pips
8:00 am- Analysis
Good morning everyone! Sorry for not posting last night, but if you watched the market yesterday you would've seen that there were no trades yesterday. Even when Greenspan spoke nothing happened. Today might be another story because Greenspan is speaking again at 11:00 am EDT. Whenever that man speaks, there is always a good chance the market will move one way or the other. The Euro made a 67 pip range last night so it does have the potential to move about 50 pips today. Remember to wait for a good signal and/or breakout. Have a great day everyone!
Key Levels:
EU session high: 2149
EU session low: 2082
Calculated Target 1: 2201
Calculated Target 2: 2097
As I am writing this I am cringing. Today was a painful day for the Alba system. After the durable goods report (which was much lower than expected) the Euro made an Alba system AND at the same time broke out above the EU session high. A high percentage of the time, this is a very good sign of a winning trade, but today was not one of those times. As it turns out, the Euro then proceeded to fall back down and stay around the EU session high. Needless to say I lost a lot of pips because since the breakout was so high, my stop was fairly big. My stop loss was set at 2130 and sure enough, I got stopped out on all 3 of my lots for a whopping loss of 108 pips. So much for that great week right? :) I'm not complaining because I know I have to lose sometimes but that is why I practice good money management, and I am VERY glad I do, especially after today. I also trust my system, so I know that this will not happen all the time. Take a deep breath....AHHHH! Tomorrow will be a new day :)
Results: -108 pips
8:00 am- Analysis
Good morning everyone! Sorry for not posting last night, but if you watched the market yesterday you would've seen that there were no trades yesterday. Even when Greenspan spoke nothing happened. Today might be another story because Greenspan is speaking again at 11:00 am EDT. Whenever that man speaks, there is always a good chance the market will move one way or the other. The Euro made a 67 pip range last night so it does have the potential to move about 50 pips today. Remember to wait for a good signal and/or breakout. Have a great day everyone!
Key Levels:
EU session high: 2149
EU session low: 2082
Calculated Target 1: 2201
Calculated Target 2: 2097
Wednesday, October 26, 2005
Forex Trading 10/26/05
8:00 am- Analysis
Good morning everyone. The Euro made another decent range last night with 74 pips of movement. The 5 day average daily volatility is getting bigger so we're starting to see more movement from the Euro. I think today will be like yesterday regarding what to expect. The Euro will either correct itself from last night and move back up or continue the trend and make a breakout below the EU low. However, the Euro might not even move at all especially since Greenspan is speaking today at 1:45 pm EDT. Traders might wait until he speaks before trading which could cause the market to be flat during the US session. As always, be patient and wait for a good breakout and/or signal. Happy trading!
Key Levels:
EU Session High: 2135
EU Session Low: 2061
Calculated Target 1: 2114
Calculated Target 2: 2008
Good morning everyone. The Euro made another decent range last night with 74 pips of movement. The 5 day average daily volatility is getting bigger so we're starting to see more movement from the Euro. I think today will be like yesterday regarding what to expect. The Euro will either correct itself from last night and move back up or continue the trend and make a breakout below the EU low. However, the Euro might not even move at all especially since Greenspan is speaking today at 1:45 pm EDT. Traders might wait until he speaks before trading which could cause the market to be flat during the US session. As always, be patient and wait for a good breakout and/or signal. Happy trading!
Key Levels:
EU Session High: 2135
EU Session Low: 2061
Calculated Target 1: 2114
Calculated Target 2: 2008
Tuesday, October 25, 2005
Forex Trading 10/25/05
8:12 pm- 1 Trade Won
Today was an excellent trading day. We had an "Alba" breakout at 8:50 am EST. Don't freak out by the terminology =) An Alba breakout is just a close of 10 pips above or below the EU session high or low. In this case the price closed 10 pips above the EU session high and I entered 3 lots long at 2058 with a stop at 2024 and a first target of 2077. My first target was hit at 10:00 am and coincidently enough that candle formed an Alba signal. This made me feel all giddy inside because I had a strong feeling the price would continue to move up. After my first target was hit I closed 2 lots and moved my stop to the low of the candle that hit my first target. You might ask why I didn't move my stop to breakeven. Well, in this case, moving my stop to the low of the candle that hit my first target would lock in 5 pips of profit on my last lot. This is why I chose to move my stop there. And just like I thought, the Euro continued to move up and I moved my stop to the low of each candle that made a new high. Unfortunately, this forced me to hold onto my trade past 12 noon. I hate having to watch charts past that time. It hurts my eyes =) I was finally stopped out at 2109 at 2:30 pm. I had a beer after that.
Results: +38 +51 -9(spread)= +80 pips
8:00 am- Analysis
Good morning everyone! The Euro made some big movement last night with 110 pip range. Because the range is so wide, it erases the calculated targets because technically the Euro has moved all it can for today's session. Of course we know this is not true, but it's going to be hard to tell what will happen. We could see a correction of the EU session movement and see a big drop. We could see a continuation of the EU session and see a breakout. Or we could see nothing and the Euro could stay flat the rest of the day. Be patient and wait for a good signal and/or breakout. I'll try to post here if I see anything. Happy trading!
Key Levels:
EU Session High: 2045
EU Session Low: 1935
Today was an excellent trading day. We had an "Alba" breakout at 8:50 am EST. Don't freak out by the terminology =) An Alba breakout is just a close of 10 pips above or below the EU session high or low. In this case the price closed 10 pips above the EU session high and I entered 3 lots long at 2058 with a stop at 2024 and a first target of 2077. My first target was hit at 10:00 am and coincidently enough that candle formed an Alba signal. This made me feel all giddy inside because I had a strong feeling the price would continue to move up. After my first target was hit I closed 2 lots and moved my stop to the low of the candle that hit my first target. You might ask why I didn't move my stop to breakeven. Well, in this case, moving my stop to the low of the candle that hit my first target would lock in 5 pips of profit on my last lot. This is why I chose to move my stop there. And just like I thought, the Euro continued to move up and I moved my stop to the low of each candle that made a new high. Unfortunately, this forced me to hold onto my trade past 12 noon. I hate having to watch charts past that time. It hurts my eyes =) I was finally stopped out at 2109 at 2:30 pm. I had a beer after that.
Results: +38 +51 -9(spread)= +80 pips
8:00 am- Analysis
Good morning everyone! The Euro made some big movement last night with 110 pip range. Because the range is so wide, it erases the calculated targets because technically the Euro has moved all it can for today's session. Of course we know this is not true, but it's going to be hard to tell what will happen. We could see a correction of the EU session movement and see a big drop. We could see a continuation of the EU session and see a breakout. Or we could see nothing and the Euro could stay flat the rest of the day. Be patient and wait for a good signal and/or breakout. I'll try to post here if I see anything. Happy trading!
Key Levels:
EU Session High: 2045
EU Session Low: 1935
Monday, October 24, 2005
Forex Trading 10/24/05
7:48 pm- 2 trades won
Wow, surprisingly enough we had a great Monday. There were 2 easy trades today. A breakout trade happened at 10:00 am and then an Alba signal at 11:40. On the breakout trade, the Euro closed at least 10 pips above the EU high and I entered 3 lots long at 1969 with a s/l at 1952 and a first target at 1978. My first target was hit the very next candle and I closed 2 lots and moved my stop to breakeven and that's where my last lot was stopped out. Then at 11:40 there was a regular Alba signal and I entered 3 lots at 1995 with a s/l at 1970 and a first target at 2007. My target was hit 2 candles later and I closed 2 lots and moved my last lots stop to breakeven and that's where I got stopped out. I should've closed all my lots when it shot up to 2020 since it was already 12 noon but I always like going for more pips and letting my trades ride out. Plus, I want to stick to the rules of my system. Besides, I can't complain about 2 winning trades :)
Results:
1st trade: +18 +3 -9(spread)= +12 pips
2nd trade: +24 +3 -9(spread)= +18 pips
Total: +30 pips
8:00 am- Analysis
Good morning everyone! Hope you all had a great weekend. For those of you who attended the live trading session on Friday, I hope you all had a fun time and that you learned something. We ended up with a good trade for a 16 pip gain. In the future, I would like to have more live trading sessions because I think that is the fastest way for people to learn this system which I have now dubbed as "The Alba System".
As for today, the Euro is VERY quiet and only made a 29 pip range during the EU session. According to the 5 day average daily volatility, we have about 85 pips of movement left in the Euro for the US session. I doubt we'll get 85 pips of movement but there is a big possibility for a breakout trade today. My only concern is that since the range is so narrow, a breakout might be a fakeout. Hey, that rhymes :) Anyways, be patient because we might not even see anything at all since no news reports are coming out. I'll try to post throughout the day. If you were at the trading session and want a transcript, send me an email and I'll get one to you. Happy trading everyone!
P.S. T-Minus 8 days until BabyPips!
Key Levels:
EU Session High: 1957
EU Session Low: 1928
Calculated Target 1: 2042
Calculated Target 2: 1843
Wow, surprisingly enough we had a great Monday. There were 2 easy trades today. A breakout trade happened at 10:00 am and then an Alba signal at 11:40. On the breakout trade, the Euro closed at least 10 pips above the EU high and I entered 3 lots long at 1969 with a s/l at 1952 and a first target at 1978. My first target was hit the very next candle and I closed 2 lots and moved my stop to breakeven and that's where my last lot was stopped out. Then at 11:40 there was a regular Alba signal and I entered 3 lots at 1995 with a s/l at 1970 and a first target at 2007. My target was hit 2 candles later and I closed 2 lots and moved my last lots stop to breakeven and that's where I got stopped out. I should've closed all my lots when it shot up to 2020 since it was already 12 noon but I always like going for more pips and letting my trades ride out. Plus, I want to stick to the rules of my system. Besides, I can't complain about 2 winning trades :)
Results:
1st trade: +18 +3 -9(spread)= +12 pips
2nd trade: +24 +3 -9(spread)= +18 pips
Total: +30 pips
8:00 am- Analysis
Good morning everyone! Hope you all had a great weekend. For those of you who attended the live trading session on Friday, I hope you all had a fun time and that you learned something. We ended up with a good trade for a 16 pip gain. In the future, I would like to have more live trading sessions because I think that is the fastest way for people to learn this system which I have now dubbed as "The Alba System".
As for today, the Euro is VERY quiet and only made a 29 pip range during the EU session. According to the 5 day average daily volatility, we have about 85 pips of movement left in the Euro for the US session. I doubt we'll get 85 pips of movement but there is a big possibility for a breakout trade today. My only concern is that since the range is so narrow, a breakout might be a fakeout. Hey, that rhymes :) Anyways, be patient because we might not even see anything at all since no news reports are coming out. I'll try to post throughout the day. If you were at the trading session and want a transcript, send me an email and I'll get one to you. Happy trading everyone!
P.S. T-Minus 8 days until BabyPips!
Key Levels:
EU Session High: 1957
EU Session Low: 1928
Calculated Target 1: 2042
Calculated Target 2: 1843
Thursday, October 20, 2005
Trick Or Trade
I got an email from a guy who runs a site called TrickOrTrade.org. It is a non-profit site that openly discusses many trading education vendors who scam new traders. What's that you say??? Who would do such a thing??? Yes folks, as sad as it is, there are many vendors out there who rip young traders off by selling them loads of bullsh*t that they like to call trading education. This site will help you distinguish the fakes from the real thing. I strongly recommend you visit this site before thinking about buying any type of trading education, system, signals, etc. Here is the link:
www.trickortrade.org
www.trickortrade.org
Forex Trading- 10/20/05
Live trading session today.
I will be trading live today and will not be posting an analysis. If there is a trade, I will post it later. Happy trading everyone :)
I will be trading live today and will not be posting an analysis. If there is a trade, I will post it later. Happy trading everyone :)
Wednesday, October 19, 2005
Live Trading Session Invitation List
Hi all,
Here is the list of people that will be invited to the live trading session tomorrow:
wilhen
christian
hablog
stratocaster
gladiator3733
pipex
cyclops
brian
craig
dippin23
If you are on this list, you must download Yahoo Messenger as that is what I will be using for the session. It only takes a few minutes to download and it is really easy to set up. Once you're all set up, send me an email with your Yahoo screen name. My email is bigpippin@babypips.com .
The session will start about 7:30 am EST and run until about Noon. Hope to see you there :)
Here is the list of people that will be invited to the live trading session tomorrow:
wilhen
christian
hablog
stratocaster
gladiator3733
pipex
cyclops
brian
craig
dippin23
If you are on this list, you must download Yahoo Messenger as that is what I will be using for the session. It only takes a few minutes to download and it is really easy to set up. Once you're all set up, send me an email with your Yahoo screen name. My email is bigpippin@babypips.com .
The session will start about 7:30 am EST and run until about Noon. Hope to see you there :)
Forex Trading 10/19/05
6:38 pm- 1 Trade Won
And just like I thought, the Euro makes a good breakout! At 11:00 am, the Euro closed 10 pips above the EU session high and I entered 3 lots long at 1982 with a stop at 1962 and a first target at 1995. My target was hit at 11:20 and I closed 2 lots out and moved my stop to the low of that candle which was 1985. I ended up getting stopped out at that level.
Result: +26 +3 -9(spread)= +20 pips
8:00 am- Analysis
Good morning everyone! Sorry for not posting last night. If you happened to watch the market yesterday during the US session you would've seen that there were clearly no trades yesterday. The market stayed flat the whole day. However, the Asian and EU session were a different story last night. We see a big range of about 100 pips during the EU session which is abnormal for the Euro. In fact, the Euro has already moved beyond its 5 day average daily pip range, which means my calculated targets are pretty useless today. I'm not sure how much movement we'll see today because we could see a correction of last night's move or we could just stay flat. There are no major news reports coming out so I'm not sure what to expect. But then again, I never know what to expect. I'm just going to be patient and wait for a good signal. I'd be extra cautious with a breakout because the Euro has already moved so much that a breakout might not necessarily mean its going to make a big move. I'll also have a list of the people that I'm going to invite to the live trading session tomorrow and Friday by this afternoon. Happy trading everyone!
Key Levels:
EU Session High: 1974
EU Session Low: 1874
Calculated Target 1: 1988
And just like I thought, the Euro makes a good breakout! At 11:00 am, the Euro closed 10 pips above the EU session high and I entered 3 lots long at 1982 with a stop at 1962 and a first target at 1995. My target was hit at 11:20 and I closed 2 lots out and moved my stop to the low of that candle which was 1985. I ended up getting stopped out at that level.
Result: +26 +3 -9(spread)= +20 pips
8:00 am- Analysis
Good morning everyone! Sorry for not posting last night. If you happened to watch the market yesterday during the US session you would've seen that there were clearly no trades yesterday. The market stayed flat the whole day. However, the Asian and EU session were a different story last night. We see a big range of about 100 pips during the EU session which is abnormal for the Euro. In fact, the Euro has already moved beyond its 5 day average daily pip range, which means my calculated targets are pretty useless today. I'm not sure how much movement we'll see today because we could see a correction of last night's move or we could just stay flat. There are no major news reports coming out so I'm not sure what to expect. But then again, I never know what to expect. I'm just going to be patient and wait for a good signal. I'd be extra cautious with a breakout because the Euro has already moved so much that a breakout might not necessarily mean its going to make a big move. I'll also have a list of the people that I'm going to invite to the live trading session tomorrow and Friday by this afternoon. Happy trading everyone!
Key Levels:
EU Session High: 1974
EU Session Low: 1874
Calculated Target 1: 1988
Tuesday, October 18, 2005
Forex Trading 10/18/05
8:00 am- Analysis
Good morning everyone! Let's hope for a better day today. The Euro moved about 65 pips last night and has about 47 pips of "juice" left in it. The US PPI report comes out today so it might be even more. Remember to be patient and wait for a good signal and/or a breakout. I'll try to post throughout the day if I see anything. Happy Trading everyone.
Key Levels:
EU Session High: 1997
EU Session Low: 1932
Calculated Target 1: 1979
Calculated Target 2: 1885
I'm going to limit the amount of people for the live session to 10 and I think I already have 10 people saying they want to be in the live session. I'll come up with a list of people that said they were interested and post it later. I'm just going to take the first 10 people that said they were interested yesterday. If you don't already have it, download Yahoo messenger because that is what I'll be using for the trading session. Happy trading!
Good morning everyone! Let's hope for a better day today. The Euro moved about 65 pips last night and has about 47 pips of "juice" left in it. The US PPI report comes out today so it might be even more. Remember to be patient and wait for a good signal and/or a breakout. I'll try to post throughout the day if I see anything. Happy Trading everyone.
Key Levels:
EU Session High: 1997
EU Session Low: 1932
Calculated Target 1: 1979
Calculated Target 2: 1885
I'm going to limit the amount of people for the live session to 10 and I think I already have 10 people saying they want to be in the live session. I'll come up with a list of people that said they were interested and post it later. I'm just going to take the first 10 people that said they were interested yesterday. If you don't already have it, download Yahoo messenger because that is what I'll be using for the trading session. Happy trading!
Monday, October 17, 2005
Forex Trading 10/15/06
6:05 pm- 1 Trade lost
There was a false breakout today. The Euro closed 10 pips below the EU session low but unfortunately it was just a fakeout. The Euro then proceeded to bounce back up and ended up hitting my calculated target 1. I entered 3 lots short at 2011 and got stopped out at 2031. Lost 60 pips today. Hopefully tomorrow will be a better day :) I'm getting decent responses for the possible live trading session on Thursday and/or Friday so it looks like it'll happen. I'll give you more info as the week goes on.
8:00 am- Analysis
Good morning everyone! I hope you all had a great weekend. I went to Medieval Times to celebrate a friends birthday and if you've never been there before, I recommend you check it out because it's awesome! Today the Euro made a fairly wide range during the EU session so I'm not expecting much movement but be ready for anything. There are also no big news reports coming out and it is Monday so I think there is a good chance the Euro won't move alot today. However, I will still look for signals. Just be patient and don't try to force anything. Happy trading everyone!
Key Levels:
EU Session High: 2093
EU Session Low: 2021
Calculated Target 1: 2061
Calculated Target 2: 1981
Announcement: I may hold a live trading session this Thursday and Friday depending on the interest level. If you are interested, leave a comment on this post so I can see if it would be worth it to hold one.
There was a false breakout today. The Euro closed 10 pips below the EU session low but unfortunately it was just a fakeout. The Euro then proceeded to bounce back up and ended up hitting my calculated target 1. I entered 3 lots short at 2011 and got stopped out at 2031. Lost 60 pips today. Hopefully tomorrow will be a better day :) I'm getting decent responses for the possible live trading session on Thursday and/or Friday so it looks like it'll happen. I'll give you more info as the week goes on.
8:00 am- Analysis
Good morning everyone! I hope you all had a great weekend. I went to Medieval Times to celebrate a friends birthday and if you've never been there before, I recommend you check it out because it's awesome! Today the Euro made a fairly wide range during the EU session so I'm not expecting much movement but be ready for anything. There are also no big news reports coming out and it is Monday so I think there is a good chance the Euro won't move alot today. However, I will still look for signals. Just be patient and don't try to force anything. Happy trading everyone!
Key Levels:
EU Session High: 2093
EU Session Low: 2021
Calculated Target 1: 2061
Calculated Target 2: 1981
Announcement: I may hold a live trading session this Thursday and Friday depending on the interest level. If you are interested, leave a comment on this post so I can see if it would be worth it to hold one.
Friday, October 14, 2005
This week's results
Had a pretty good week this week. It would've been better if I didn't miss Monday :) I'm just kidding. I'm glad I didn't trade Monday. Holidays are always a gamble, and I don't like to gamble with my money. Hope you all had a great week as well.
Monday: No trades- Holiday
Tuesday: +7
Wednesday: -18
Thursday: +44
Friday: +64
Total: +97 pips
Monday: No trades- Holiday
Tuesday: +7
Wednesday: -18
Thursday: +44
Friday: +64
Total: +97 pips
Forex Trading 10/14/05
5:37 pm- 1 trade won
It was a good day today. After the news report, the Euro really started to take off. There was a very clear signal today plus a breakout which made me really confident in entering my trade today. The signal happened at 10:2o and I entered 3 lots long at 2038 with a s/l at 1999 and a first target of 2052. My target was hit the very next candle and I was very tempted to close all of my positions because it was such a large move, but I was able to control myself and I still let my last ride by moving my stop to breakeven. My patience paid off and the Euro continued to move up. Everytime it made a new high, I moved my stop to the low of that candle. I eventually got stopped out on my last lot at 2083. Overall, it was a really good day today :)
Results: +28 +45 -9(spread)= +64 pips
8:00 am- Analysis
Good morning everyone! The Euro made about a 48 pip range last night which is wider than it's usually been the past few days. This means that there is a better chance that we'll just see it range between the high and the low. However the US CPI report comes out today and that could move it enough for a break. I think today I'll have to look more for a signal rather than a breakout. Fridays can be crazy sometimes so just be prepared for anything. Happy trading everyone!
Key Levels:
EU Session High: 2027
EU Session Low: 1979
Calculated Target 1: 2035
Calculated Target 2: 1923
It was a good day today. After the news report, the Euro really started to take off. There was a very clear signal today plus a breakout which made me really confident in entering my trade today. The signal happened at 10:2o and I entered 3 lots long at 2038 with a s/l at 1999 and a first target of 2052. My target was hit the very next candle and I was very tempted to close all of my positions because it was such a large move, but I was able to control myself and I still let my last ride by moving my stop to breakeven. My patience paid off and the Euro continued to move up. Everytime it made a new high, I moved my stop to the low of that candle. I eventually got stopped out on my last lot at 2083. Overall, it was a really good day today :)
Results: +28 +45 -9(spread)= +64 pips
8:00 am- Analysis
Good morning everyone! The Euro made about a 48 pip range last night which is wider than it's usually been the past few days. This means that there is a better chance that we'll just see it range between the high and the low. However the US CPI report comes out today and that could move it enough for a break. I think today I'll have to look more for a signal rather than a breakout. Fridays can be crazy sometimes so just be prepared for anything. Happy trading everyone!
Key Levels:
EU Session High: 2027
EU Session Low: 1979
Calculated Target 1: 2035
Calculated Target 2: 1923
Thursday, October 13, 2005
Forex Trading 10/13/05
4:36 pm- 1 trade won
Like I thought would happen, the Euro made a nice breakout today. There was a breakout at 8:40 and I entered 3 lots short at 1954 with a stop at 1988 and a first target of 1936. My first target was hit and I closed 2 lots and moved my last lot's stop to breakeven. Once the Euro made a new low I moved my stop to the high of that candle and just repeated the process everytime it made a new low until finally getting stopped out at 1919. This win means that the system still has never had 2 consecutive losing days. Awesome!
Results: +18 +35 -9(spread)= +44 pips
8:00 am- Analysis
Good morning everyone! Sorry I didn't post yesterday. I ended up having a small loss yesterday because I entered on a breakout of the EU session high. after the breakout, the price just hovered around there the rest of the day and I closed my position out at around 1PM EST. I ended up losing a total of 18 pips off of 3 lots. Hopefully today will be better. Right now, the Euro is primed to make a breakout. There was a very narrow range of about 35 pips last night so look for some movement today. There was a fairly decent drop during the Asian session so we could see a correction or a continuation. Then again, we could see nothing but just be ready for anything. Remember to wait for a good signal or breakout. Happy trading everyone!
Key Levels:
EU Session High: 2003
EU Session Low: 1968
Calculated Target 1: 2055
Calculated Target 2: 1916
Like I thought would happen, the Euro made a nice breakout today. There was a breakout at 8:40 and I entered 3 lots short at 1954 with a stop at 1988 and a first target of 1936. My first target was hit and I closed 2 lots and moved my last lot's stop to breakeven. Once the Euro made a new low I moved my stop to the high of that candle and just repeated the process everytime it made a new low until finally getting stopped out at 1919. This win means that the system still has never had 2 consecutive losing days. Awesome!
Results: +18 +35 -9(spread)= +44 pips
8:00 am- Analysis
Good morning everyone! Sorry I didn't post yesterday. I ended up having a small loss yesterday because I entered on a breakout of the EU session high. after the breakout, the price just hovered around there the rest of the day and I closed my position out at around 1PM EST. I ended up losing a total of 18 pips off of 3 lots. Hopefully today will be better. Right now, the Euro is primed to make a breakout. There was a very narrow range of about 35 pips last night so look for some movement today. There was a fairly decent drop during the Asian session so we could see a correction or a continuation. Then again, we could see nothing but just be ready for anything. Remember to wait for a good signal or breakout. Happy trading everyone!
Key Levels:
EU Session High: 2003
EU Session Low: 1968
Calculated Target 1: 2055
Calculated Target 2: 1916
Tuesday, October 11, 2005
Missed Trade Yesterday
Here is a chart of the trade I missed yesterday. As you can see, it was a perfect breakout trade and would've made a nice profit. 
Forex Trading- 10.10.05
3:18 pm- 1 Small trade won
Well, there was a breakout like I expected earlier, but I was only able to capture a few pips off of it because the price moved choppy even though it eventually landed near my calculated target 2. I entered 3 lots short at 1999 with a s/l at 2015 and a first target of 1991. My first target was hit on the next candle so I closed 2 lots and moved my last lot's stop to breakeven. Normally, you would move your stop to the high of the candle that hit your target, but if it means that you would end up losing some of your profits, then you should instead move it to breakeven. This was the case for today. I did end up getting stopped out on my last lot at breakeven.
Results: +16 +0 -9(spread)= +7 pips
Like I said, it was just a small win, but not every trade can be a jackpot :) Hope you all did well. Contact me if you have any questions. I should be online at some point today.
8:00 am- Analysis
Good morning everyone! I'm kind of mad that I missed yesterday's trade. Even though holidays tend to be horrible days to trade, yesterday ended up making a nice move (see the "missed trade" post). Anyways, hopefully we'll have some more of that kind of movement. The Euro only made a 36 pip range last night and has been pretty volatile over the last 5 days. I'm expecting to see some kind of breakout trade for today. Remember that a breakout is when a candle closes 10 pips above or below the EU session high/low. I will more or less be looking for the breakout rather than my normal FX10 signal because of the narrow range. I don't see any major news reports coming out so the breakout might not happen until tomorrow, but just be ready for anything. Happy trading everyone!
Key Levels:
EU Session High: 2046
EU Session Low: 2010
Calculated Target 1: 2079
Calculated Target 2: 1969
Well, there was a breakout like I expected earlier, but I was only able to capture a few pips off of it because the price moved choppy even though it eventually landed near my calculated target 2. I entered 3 lots short at 1999 with a s/l at 2015 and a first target of 1991. My first target was hit on the next candle so I closed 2 lots and moved my last lot's stop to breakeven. Normally, you would move your stop to the high of the candle that hit your target, but if it means that you would end up losing some of your profits, then you should instead move it to breakeven. This was the case for today. I did end up getting stopped out on my last lot at breakeven.
Results: +16 +0 -9(spread)= +7 pips
Like I said, it was just a small win, but not every trade can be a jackpot :) Hope you all did well. Contact me if you have any questions. I should be online at some point today.
8:00 am- Analysis
Good morning everyone! I'm kind of mad that I missed yesterday's trade. Even though holidays tend to be horrible days to trade, yesterday ended up making a nice move (see the "missed trade" post). Anyways, hopefully we'll have some more of that kind of movement. The Euro only made a 36 pip range last night and has been pretty volatile over the last 5 days. I'm expecting to see some kind of breakout trade for today. Remember that a breakout is when a candle closes 10 pips above or below the EU session high/low. I will more or less be looking for the breakout rather than my normal FX10 signal because of the narrow range. I don't see any major news reports coming out so the breakout might not happen until tomorrow, but just be ready for anything. Happy trading everyone!
Key Levels:
EU Session High: 2046
EU Session Low: 2010
Calculated Target 1: 2079
Calculated Target 2: 1969
Monday, October 10, 2005
Contact Information
Here is a list of my contact information. If you email me, I'll try to get back to you within 24 hours.
Email: bigpippin@babypips.com
Yahoo: BigPipp1n
AIM: BigPipp1n
MSN: BigPipp1n@hotmail.com
If you catch me online, feel free to drop me a line or send me an email if you prefer that instead. Hope to meet and chat with all of you. Happy trading!
Email: bigpippin@babypips.com
Yahoo: BigPipp1n
AIM: BigPipp1n
MSN: BigPipp1n@hotmail.com
If you catch me online, feel free to drop me a line or send me an email if you prefer that instead. Hope to meet and chat with all of you. Happy trading!
Forex Trading- 10.10.05
Don't Trade Today!
Good morning everyone. I'm sure you probably aren't going to, but if you were thinking about it, I strongly recommend that you don't trade today. Today will be very unpredictable and will probably lack movement because there are 3 different holidays today. Japan has Sports day. Canada has Thanksgiving, and the US has Columbus day. From the charts you can see that the Asian session was very flat, but there was some movement during the EU session. Holidays are bad days to trade and I will stay out of the markets today. Trading will resume tomorrow. Have a great holiday everyone!
Good morning everyone. I'm sure you probably aren't going to, but if you were thinking about it, I strongly recommend that you don't trade today. Today will be very unpredictable and will probably lack movement because there are 3 different holidays today. Japan has Sports day. Canada has Thanksgiving, and the US has Columbus day. From the charts you can see that the Asian session was very flat, but there was some movement during the EU session. Holidays are bad days to trade and I will stay out of the markets today. Trading will resume tomorrow. Have a great holiday everyone!
Sunday, October 09, 2005
Where have I been????
Hello to all of you who frequent this blog. My apologies for not being here for a while. The truth is that I'm swamped in getting BabyPips ready for its launch date that I haven't had time to keep up with the blog. Don't worry though, I will be posting again regularly hopefully starting this week so be sure and keep dropping by. Mark your calendars! November 1st will be the official launch date for BabyPips.com! Once the site is up, I'll have a lot more time to blog again.
Again, I want to thank everyone for your support. My team and I (we call ourselves the fX-MEN--get it?) have been working very hard to get this site up and I hope that it will serve the forex community well, especially to those who are just starting out in the forex. We are taking a whole new approach to learning the forex by making it fun and exciting. We're hoping our style of learning will attract an audience that isn't so "uptight". We've had so much fun learning and trading that we want that to reflect it on our website. In fact, our mission statement goes something like this:
"Our goal is to help you help yourself make money by trading money...
...while cracking as many corny jokes as possible along the way!"
The forex is fun and we're going to hopefully make it fun for everyone who uses the site.
I will now be available online to chat about any questions you may have about the system. I know you don't have the PDF yet, but if you've been following this blog and have any questions I will make myself available to chat.
Here are my screen names:
Yahoo: BigPipp1n
AIM: BigPipp1n
MSN: BigPipp1n@hotmail.com
Feel free to drop me a line whenever you see me on. I look forward to chatting with all of you. I also have a new email address. You can now email me at BigPippin@babypips.com if you have any questions or just feel like saying hello. I check my email often and will try to get back to you within 24 hours.
Well that's the update for now. I'll try to get posting again this week. Exhausted as I am, I am really excited with everything that's going on right now. I hope you all have been trading well and I hope to hear from you guys and gals soon. Happy trading everyone!
Again, I want to thank everyone for your support. My team and I (we call ourselves the fX-MEN--get it?) have been working very hard to get this site up and I hope that it will serve the forex community well, especially to those who are just starting out in the forex. We are taking a whole new approach to learning the forex by making it fun and exciting. We're hoping our style of learning will attract an audience that isn't so "uptight". We've had so much fun learning and trading that we want that to reflect it on our website. In fact, our mission statement goes something like this:
"Our goal is to help you help yourself make money by trading money...
...while cracking as many corny jokes as possible along the way!"
The forex is fun and we're going to hopefully make it fun for everyone who uses the site.
I will now be available online to chat about any questions you may have about the system. I know you don't have the PDF yet, but if you've been following this blog and have any questions I will make myself available to chat.
Here are my screen names:
Yahoo: BigPipp1n
AIM: BigPipp1n
MSN: BigPipp1n@hotmail.com
Feel free to drop me a line whenever you see me on. I look forward to chatting with all of you. I also have a new email address. You can now email me at BigPippin@babypips.com if you have any questions or just feel like saying hello. I check my email often and will try to get back to you within 24 hours.
Well that's the update for now. I'll try to get posting again this week. Exhausted as I am, I am really excited with everything that's going on right now. I hope you all have been trading well and I hope to hear from you guys and gals soon. Happy trading everyone!
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.
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.
Wednesday, October 05, 2005
Forex Trading- 10.05.05
8:00 am- Analysis
Wow, it's been another slow week so far. There was absolutely NO movement yesterday even with the rate decision. Today's EU session was no exception. There was only a 34 pip range which again is showing signs of a breakout. I would watch carefully these next few days because a breakout is bound to happen one of these days, especially when the the Euro stays in a narrow range for multiple days. When the Euro is this narrow I would recommend that you only trade the breakout and not try to trade within the range. However, if you are aggressive and the price approaches either the high or low, but doesn't break it, you could put an order in the opposite direction with a stop somewhere above the EU session high or low and trade the bounce. I wouldn't recommend it, but more often than not, if the price cannot break these levels, it will return back to the other side. Personally, I will wait for the breakout. Have a good day everyone! Let's make some pips!
Wow, it's been another slow week so far. There was absolutely NO movement yesterday even with the rate decision. Today's EU session was no exception. There was only a 34 pip range which again is showing signs of a breakout. I would watch carefully these next few days because a breakout is bound to happen one of these days, especially when the the Euro stays in a narrow range for multiple days. When the Euro is this narrow I would recommend that you only trade the breakout and not try to trade within the range. However, if you are aggressive and the price approaches either the high or low, but doesn't break it, you could put an order in the opposite direction with a stop somewhere above the EU session high or low and trade the bounce. I wouldn't recommend it, but more often than not, if the price cannot break these levels, it will return back to the other side. Personally, I will wait for the breakout. Have a good day everyone! Let's make some pips!
Tuesday, October 04, 2005
Forex Trading- 10.04.05
Forex Analysis- 8:00 am
Good morning everyone. I have a good feeling that there will be a nice trade today. The Euro only made a 29 pip range last night. That is very narrow, even for the Euro. Also, the US rate decision will be made today at 2:15 pm EST, so I think that will move the market. The rates will go up so I would expect the Euro to move down, but then again, sometimes the Euro will surprise you. If I don't find any trades during my normal session (8-12 EST) I might trade after the interest rates are announced. Happy trading everyone! I'll try to post throughout the day.
Key Levels:
EU Session High: 1938
EU Session Low: 1904
Calculated Target 1: 1991
Calculated Target 2: 1975
Good morning everyone. I have a good feeling that there will be a nice trade today. The Euro only made a 29 pip range last night. That is very narrow, even for the Euro. Also, the US rate decision will be made today at 2:15 pm EST, so I think that will move the market. The rates will go up so I would expect the Euro to move down, but then again, sometimes the Euro will surprise you. If I don't find any trades during my normal session (8-12 EST) I might trade after the interest rates are announced. Happy trading everyone! I'll try to post throughout the day.
Key Levels:
EU Session High: 1938
EU Session Low: 1904
Calculated Target 1: 1991
Calculated Target 2: 1975
Monday, October 03, 2005
Forex Trading- 10.03.05
12:20 am- 1 trade lost
Sorry for the late update. I had a very busy day today. There was a breakout of the EU session low at 10:20 am EST but my initial target was not hit. My entry was 1910 and my target was 1897. The Euro did end up going down to 1900 but then bounced back up to the EU session low. I decided to stick it out even though it was already close to 12 noon because sometimes my target will still get hit. Well, if you look at the chart from 12-1 pm EST, it was absolutely flat so I just closed all my positions at 1909. Factor in the spread and I lost a total of 6 pips off of 3 lots. Even though it was a loss today, I'm glad it wasn't a big one considering Mondays are horrible days to trade anyways. I don't regret my trade as I genuinely thought there was a good breakout. I'm actually happy with my loss today. I hope you all didn't get hurt too bad. I'll see you all tomorrow!
8:00 am- Analysis
Good morning everyone! I can finally get back to my forex trading! I hope you all had a great weekend. The Euro has been relatively flat the last few days with the exception of last night where it dropped about 100 pips. However, during the EU session last night, the Euro only made about a 48 pip range and the 5 day average daily range is only 87 pips. There are no major news reports coming out today and it's also a Monday which means there is a good chance the Euro will not move anywhere. But as always, the market is unpredictable and we never really know what will happen until after the fact. With that in mind, just be cautious with your trading today. I will wait for my usual signal or a breakout and I won't try to force any trades. Stick to your plan! Happy trading everyone.
Key Levels:
EU Session high: 1968
EU Session Low: 1920
Calculated Target 1: 1959
Calculated Target 2: 1881
Sorry for the late update. I had a very busy day today. There was a breakout of the EU session low at 10:20 am EST but my initial target was not hit. My entry was 1910 and my target was 1897. The Euro did end up going down to 1900 but then bounced back up to the EU session low. I decided to stick it out even though it was already close to 12 noon because sometimes my target will still get hit. Well, if you look at the chart from 12-1 pm EST, it was absolutely flat so I just closed all my positions at 1909. Factor in the spread and I lost a total of 6 pips off of 3 lots. Even though it was a loss today, I'm glad it wasn't a big one considering Mondays are horrible days to trade anyways. I don't regret my trade as I genuinely thought there was a good breakout. I'm actually happy with my loss today. I hope you all didn't get hurt too bad. I'll see you all tomorrow!
8:00 am- Analysis
Good morning everyone! I can finally get back to my forex trading! I hope you all had a great weekend. The Euro has been relatively flat the last few days with the exception of last night where it dropped about 100 pips. However, during the EU session last night, the Euro only made about a 48 pip range and the 5 day average daily range is only 87 pips. There are no major news reports coming out today and it's also a Monday which means there is a good chance the Euro will not move anywhere. But as always, the market is unpredictable and we never really know what will happen until after the fact. With that in mind, just be cautious with your trading today. I will wait for my usual signal or a breakout and I won't try to force any trades. Stick to your plan! Happy trading everyone.
Key Levels:
EU Session high: 1968
EU Session Low: 1920
Calculated Target 1: 1959
Calculated Target 2: 1881
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