Pip Daddy's Thoughts For The Upcoming Week

I’m not trying to be a party pooper, but this guy might describe the market this week.

How come?

Ummmm Yummy! It’s that time of the year again. Thanksgiving!

Most Americans will have turkey, family, and friends on their minds this week so expect overall market activity to be very low. Don’t think it’ll just be the U.S. session. Those Yankees also trade during Asian and European hours but not during Thanksgiving time. Take another look at that thing. Looks so juicy.

This is a dangerous time to be trading, when liquidity is low, remember this lady…it’s very spiky.

There will be lots of spikes and I wouldn’t be surprised if bored market makers out there who aren’t giving thanks will be on the prowl for stops.

Low liquidity = lots of spikes and lots of stop hunts.

So I’m faced with a dilemma…

Since it’s basically a holiday this upcoming week, should I even trade and write a chart analysis? Well like the Boy Scouts motto says, we have to be prepared for anything. I don’t expect the market to move BIG this week, but we may still be able to make some pips! Yeah baby yeah!

For the rest of Pip Daddy's free comprehensive chart analysis, check out http://www.babypips.com/forex-analysis/forex-chart-analysis.html

Hope you all had a great weekend!

Cheers,

-BigPippin

Forex Trading Results 11/14/05 - 11/18/05

Week Results: + 193 Pips

Monday: +58
Tuesday: No Trades
Wednesday: +12
Thursday: +26
Friday: +97

Forex Trading- 11/14/05

7:00 pm- 1 Trade Won

Hello everyone! Hope you all had a great weekend. Unfortunately I wasn't able to post this morning because my subscription was expired and I had problems getting renewed. Luckily I was able to get it back up right before the trade happened. I've been working on updates for the Alba system so you might notice that the charts look a little different. It's not concrete yet, but I'm thinking of actually getting rid of all the indicators except the moving averages and strictly relying on price action and volatility of the EU session. Talk about a simple system! I am also getting rid of the morning calculated targets as I have found some flaws with them. Don't worry, they don't affect the actual entries of the Alba system, but since it has some errors, I'd rather just take it off for now until I come up with a better solution.

As for today, there was a classic Alba breakout at 8:20 am EST. I entered 3 lots short at 1692 with a stop loss at 1741 and a target at 1666. My target was hit at 11:40 and I closed 2 lots and moved my stop to the high of that candle which was 1677. Unfortunately there was no more downward movement and my last lot was stopped out at 12:30.

Results: +52 +15 -9(spread)= +58 pips












~Posted by Big Pippin

Forex Trading- 11/08/05

6:45 pm- 1 Trade won

Today was an easy trade although it wasn't a big winner. There was an Alba breakout at 9:40 am EST and I entered 3 lots long at 1757 with a s/l at 1742 and a first target at 1765. The very next candle my target was hit and I closed 2 lots and moved my stop to breakeven. Unfortunately the very next candle stopped me out and the price continued to rise for about another 20 pips. Oh well, a win is a win no matter how small or big it is. Hopefully we'll see more movement later on this week. Hope you all did well. ~BigPippin

Results: +16 +3 -9(spread)= +10 pips












8:00 am- Analysis

Good morning everyone! Hopefully we'll see better movement than we saw yesterday. The Euro made about a 37 pip range during the EU session. With that range, I'm expecting about 75 pips of movement left for the US session. However, there are no major news reports coming out today so we might see another flat day. Just be prepared for anything, but be patient and make sure you wait for a good Alba signal or breakout. Remember, follow the rules of the system. Good luck and happy trading everyone! ~BigPippin

Key Levels:

EU Session High: 1746
EU Session Low: 1709
Calculated Target 1: 1821
Calculated Target 2: 1671

Please welcome PipCrawler

Hello everyone! I just wanted to let everyone know that PipCrawler, another member of the BabyPips team, will be assisting me with the blog. He is veteran trader, not just in the forex, but also in stocks and options as well. He is very proficient with the Alba system so you don't have to worry. He knows what he is doing. In fact, he's ALMOST as good as me, hahahaha! Anyways, I just thought I'd let you all know so that you wouldn't wonder who this strange PipCrawler person was.

ALSO, we have received many emails regarding people wanting to know if we could make the Alba system work on Metatrader. The biggest problem is that Metatrader doesn't have 10 minute charts. However, I received an email from someone who was able to write an indicator so that you could make the 5 minute chart look like a 10 minute chart. It's still being tested but as soon as it's ready to go, I'll be sure to let you all know.

That's it for now. See you all tomorrow! ~BigPippin

Forex Trading- 11/04/05

8:00 am- Analysis

Good morning everyone! Sorry I couldn't post again yesterday, but what a day it was for the Alba system. Once again there was both an Alba breakout and an Alba signal trade that was good for about 90 pips. I hope you all were able to catch some of it. Today looks like it will be another big mover for the Euro because it only made a 24 pip range during the EU session. This means that there is about 87 pips of movement still left in it. At 8:30 am EST, the employment change report comes out for the US so it's most likely we'll see a breakout. I would be extra careful though because since the Euro is such in a narrow range, there's a possibility that the first breakout might be fake. Also, with the news, there might be a breakout in one way, but then 10 minutes later it could correct itself. So far this week there has been no losing trades for the Alba system. In fact, every day has been very good. If you have had a good, profitable week, you might just want to stay out. Take the day off and enjoy it. However, if you do trade, stick to the rules of the Alba system no matter what. If you lose, you just have to take it in stride. That's the risk we take when we trade :) Have a great day everyone!

Key Levels:

EU session high: 1952
EU session low: 1928
Calculated target 1: 2039
Calculated target 2: 1841

Alba Learn N Trade
We have been getting good response for the Alba Learn N Trade and are excited to start the live training sessions. Remember, it is on a first come, first serve basis so the sooner you sign up, the sooner your live training will be. If you want more information on the Learn N Trade, just click on the green banner at the top.

Forex Trading- 11/03/05

8:00 am- Analysis

Good morning everyone! The Euro made a 37 pip range yesterday and is poised to move about 70 pips for the US session. The ECB just announced that they will hold rates to aid the economy and we did see some downward movement. We will see if that continues or corrects itself during the US session. Also, Greenspan is testifying to Congress today at 10:00am EST so be prepared for anything. Wait for a good Alba Signal or Alba Breakout and be patient with your trades. Happy trading everyone!

Key Levels:

EU session high: 2081
EU session low: 2044
Calculated target 1: 2115
Calculated target 2: 1973

Forex Trading- 11/02/05

8:00 pm- 2 Trades won

It was the best of both worlds today as there was both an Alba signal and an Alba breakout. The Alba signal was given at 8:30 am EST and I entered 3 lots long at 2012 with a s/l at 1996 and a first target at 2021. My target was hit at 8:50 and I closed 2 lots and moved my last lot's stop to b/e. I continued to move my stop to the low of each candle that made a new high and I ended up getting stopped out at 2031. At 10:30 there was an Alba breakout and I entered 3 lots long at 2057 with a s/l at 2033 and a first target at 2072. My target was hit at 10:40 and I closed 2 lots and moved my last lot's stop to b/e which is where I was eventually stopped out on my last lot. Overall it was a very good day today.

Results:
+18 +19 -9(spread)= +28 pips
+30 +0 -9(spread)= +21 pips
Total: +49 pips












8:00 am- Analysis

Sorry for the late post everyone. I was just catching up on everyone's emails. If you traded yesterday, the Alba system had a small win for about 18 pips. There was a classic Alba signal and it was a fairly easy trade. Today the Euro made a 52 pip range last night and is poised for about another 50 pips of movement during the US session. Right now we are currently around the EU session low so we want to wait for either a bounce or a break of the low. With the bounce, look for an Alba signal and with the break look for well....an Alba breakout. No major news reports are coming out today so it's a possibility we might not see any movement. But then again, sometimes these are the days when big banks like to make their transactions. Remember to be patient and follow the rules of the Alba system and you should be fine. If there is no trade today then don't try to force anything. Remember, there's always tomorrow. The pips aren't going anywhere :) Happy trading everyone!

Key Levels:

EU session high: 2040
EU session low: 1988
Calculated Target 1: 2042
Calculated Target 2: 1934

Awesome Start for BabyPips

Hello everyone! I won't be trading today again in order to keep up with all the PDF requests. If you still haven't gotten yours, make sure you follow the directions to the email I sent out a couple days ago.

The BabyPips launch was a huge success. We had over a few thousand unique visitors yesterday and alot of it is thanks to you guys. Thank you for spreading the word. We've gotten so many emails and comments complimenting the site and we really appreciate them. It keeps us motivated to keep moving forward. So from all of us at the BabyPips team, we want to send a big thanks out to all of you and we hope you keep spreading the word wherever you go.

There has been an overwhelming number of people who have signed up for the Alba Learn N Trade which I think will be very helpful to all of you as you will be able to watch me trade live. More importantly, you will be put into teams after the sessions are over so that you can trade as a group. Trading as a team will help you in your trading tremendously as it will keep you accountable to follow the rules of the system. If you are still interested in signing up for the Alba Learn N Trade you can still sign up. The quicker you sign up, the sooner your live training sessions will be. You can send me an email if you're interested.

Like I said before, version 2.0 is already in progress, and there is a TON of stuff that is going to be added to the site so be sure to sign up for the newsletter to get updates of when new material is posted. I'm hoping that I'll be able to trade tomorrow, but I've been so excited about the launch that I haven't even really thought about trade. If you did trade the Alba system yesterday, you would've made some nice pips off of an Alba breakout. I just quickly looked at the charts and I think it was about a 40 pip gain. Anyways, hope you all do well today. Happy trading everyone and thanks again!