Forex Trading - 12/01/05

7:35 pm- No Trades

Once again, the plethora of news reports kept me away from the market again today. Although the Euro did make a nice move down, I didn't see any signals after all the news reports and therefore decided not to go short. I've received many emails asking me what my rules are when it comes to trading around news reports. The answer is that I don't trade 30 minutes before the report and usually wait 20-30 minutes after a report before entering trades. Another question people are asking is what news events I consider "major". I generally go by forex factory's news calendar. They color code each news report depending on the importance. I usually don't trade around reports that are orange or red. Hopefully this answers all your questions. See you all tomorrow! ~Big Pippin












8:00 am - Analysis

Good Morning! ECB came out with it's rate decision this morning at approximately 7:45 am EST, and as expected they raised the rate from 2.00% to 2.25%. If you don't know anything about anything in forex, know that raising and lowering interest rates has the most significant impact on a country's currency. Now the question of the day wasn't going to be if the ECB is going to raise the interest rate, that was almost guaranteed...the question of the day was, "is this a one time hike or is it going to be a series of hikes from the ECB?" As of this writing I haven't got the full news report, but by the market reaction it looks like a one time deal...for now. Later today, US ISM manufacturing index is expected to fall once again to 57.5 in Nov from previous reading of 59.1. Core personal consumption expenditure (PCE) index in Oct is expected to increase by 2%. If you want to learn more about ISM, click here. As always, we recommend discrection on news days or even staying out. Remember the rules, stay focused and disciplined, good luck, and good trading!! ~ PipCrawler











EU Session High: 1.1789
EU Session Low: 1.1741

Forex Trading - 11/30/05

7:36 pm- No Trades

Today was a pretty boring day for the Euro. There were a couple of times it looked like we might have an Alba trade, but conditions weren't completely met and therefore there were no trades. At 9 am it looked like we would have an Alba breakout but it didn't quite qualify. Then at 10:30 it looked like we would have a good Alba signal but look at where the 2nd candle closed. This was way too close to the EU session high which is why no trade was entered. I hope you were able to avoid any losses in today's ugly market. Hopefully tomorrow will be better. ~Big Pippin














8:00 am - Analysis

Good Morning! It's another day of plentiful US economic reports with GDP Annualized (3Q P), GDP Price Index (3Q P), and Personal Consumption (3Q P) at 8:30 am EST. Then Chichago PMI (NOV) at 10:00 am EST and Beige Book for Dec FOMC Meeting at 2:00 pm EST. For the most part the consensus numbers are inline with previous, which means we may not see much movement if the actual numbers are inline. If there are any surprises expect the dollar to move, so be focused and ready. During the EU session the EURUSD only ranged about 32 pips which leads me to believe there are many traders on the sidelines waithing for this mornings reports. Remember on news days to use discrection, and wait 30 min to hour for a trend to materialize. Remember the rules, Good luck, and Good Trading!!! ~ PipCrawler




EU Session High: 1.1800
EU Session Low: 1.1768

Forex Trading - 11/29/05

6:15 pm- No Trades

I know what you're thinking...no trades?! Yes there was an Alba breakout and you might've even traded it but for me, it was too close to the U.S. Durable Goods report. One of my rules is that I don't like to make trades around news reports because it is very risky. It just so happened that today's report worked out for the Alba system. I am still posting a chart with what I would've done had I taken the trade. If there was no news report at 8:30 it would've been another nice day for me. Even though today's trade worked out, I encourage you all not to trade around news report times as it is unpredictable and causes huge spikes. Anyways, hope you all did well today. ~Big Pippin












8:00 am - Analysis

Good morning! Today we have a slew of US economic reports coming out, and with the eurusd in a 28 pip range during the EU session, it looks like traders are waiting until this morning to jump back into the game. At 8:30 am EST we have Durable Goods Orders and Durable Ex Transportation, and at 10:00 am EST Consumer Confidence and New Home sales coming out. The consenses numbers are higher than previous, so look for the dollar to be stronger after the reports. Again, stay alert and always have a plan for a breakout in either direction. Good luck and good trading! ~PipCrawler


EU Session High: 1.1838
EU Session Low: 1.1810

Forex Trading - 11/28/05

7:45 pm- 1 Trade won

Well it was a good day for Alba again today. Not too bad for the first day back after the Thanksgiving holidays. Hope you all had a great break. Today there was an Alba breakout at 10:00 am and I entered 3 lots long at 1746 with a stop loss at 1720 and a target set at 1762. My target was hit at 10:20 and I closed 2 lots out and moved my last lot's stop to breakeven. From 10:30 to 11:20 I moved my last lot's stop to the low of each candle that made a new high and I was eventually stopped out at 1795 at 11:30. ~ Big Pippin

Results: +32 +49 -9(spread)= +72 pips












8:00 am - Analysis

Good morning everyone! I hope everyone had a great weekend! I know i did with some non-stop holiday eating all weekend long! But it's time to put that turkey leg down and get back to business! Not much in the way of US economic reports today except the Existing Home Sales Report. It's been know to move the market, so be ready when it comes out at 10:00 am EST. The consensus number is lower than the previous at 7.2 mil vs. 7.28 mil. As I write this the EURUSD is trading at the top of the EU session, so be ready for a breakout if it happens. I hope you got a chance to checkout Pip Diddy's Analysis this weekend. If not, you still have a chance to check it out at www.babypips.com in the Analysis section. Remember the rules of Alba, good luck, and good trading!!! ~ PipCrawler



EU Session High: 1.1717
EU Session Low: 1.1680

Forex Trading - 11/23/05

2:20 pm- 1 Trade Lost

After a series of winning trades, Alba has finally succumbed to a loss. What a crappy way to start the holidays :) There was an Alba signal at 9:10 am so I entered 3 lots long at 1813 with a s/l at 1794 and a target at 1824. I probably shouldn't have entered because of the consumer sentiment set to come out at 9:45 but I figured it would still have time to hit my target. Well I was completely wrong! At 9:40 my stop was hit and I lost on the trade. Crap! Oh well, you can't win them all :)

On another subject, me and Pipcrawler will be on vacation tomorrow and Friday for Thanksgiving. So there will be no posts during that time. I also urge you all to stay out of the markets during this time. Holidays can be tricky so I would strongly recommend that you take a couple days off and enjoy yourselves. You deserve it! Happy Thanksgiving everyone! ~ Big Pippin

Results: -57 -9(spread)= -66 pips












8:00 am - Analysis

Good morning everyone! Seems like the same trading pattern for the last few days with the eurusd...dollar bulls run the EU session, dollar bears take over during the US session. Let's see what happens today as Inital Claims comes out at 8:30 am EST and U. of Michigan Confidence at 9:45 am, so be alert during those times. Tomorrow is a US holiday so there won't be any morning posts for the rest of the week, but for all my international friends who will still be trading, remember to stay focused, use discretion when neccessary, and remember the Alba system because she's been so good to us right?? Good luck and good trading! ~ PipCrawler



EU Session High: 1.1843
EU Session Low: 1.1763

Forex Trading - 11/22/05

5:20 pm- No trades

Hello everyone! Unfortunately it was a quiet day for Alba today. It looks like there could've been a signal at 12:00 pm, but because it didn't significantly break the EU session high I didn't enter. Also it was past 12 pm so I didn't want to risk it. However, it's ashame the big move that happened at 2pm didn't happen earlier. If you watched the market, the Euro shot up about 80 pips! Oh well, at least we didn't lose any money today. Hopefully tomorrow will be better. ~Big Pippin

Results: +0 pips













8:00 am- Analysis

Good morning! The EU came out with mixed economic reports last night with in line numbers from Germany and lower than expected from France. During the EU session the EURUSD made a temporary dip below the psychological level of 1.1700. In the last few trading days we've seen the dollar bulls give up some of those gains during the EU session early in the US sessions. No significant US reports or news to watch out for the moment, but stay focused and remember the rules of the Alba system! It's been so good to us! Good luck and good trading!! ~ PipCrawler











EU Session High: 1.1736
EU Session Low: 1.1687

Forex Trading - 11/21/05

7:23 pm- 1 Trade won with discretion

There was a good Alba breakout at 10:40 am EST and I entered 3 lots short at 1753 with a s/l at 1833 and a target at 1713. If you notice, you'll see that there was an Alba signal at 10:10 but it closed right at the EU session low so I did not enter. Here is where the discretion came in. At 11:10, the price got within 5 pips of my target but did not hit. I still held my positions but the price just stayed around that area for the rest of the day. At 1:20 the price was around the low 1720's so with my discretion I decided to close all 3 lots at 1721 9because it was already late in the day. I'm sure many of you all did the same thing. This is why I say that the system is not 100% mechanical. At certain times you do have to use your common judgment. Anyways, it was a great day for Alba and I hope you all had a great day as well. ~Big Pippin

Results: +96 -9(spread)= +87 pips













8:00 am- Analysis

Good Morning! It's another wonderful week in the world of Forex, and if you got a chance to check out Pip Daddy's Analysis this weekend at Babypips.com, you will see it's a short one here in the US markets. Not many US economic reports coming out this week, but you never know what may happen(like the surprise annoucement by European Central Bank President Trichet on friday). If you missed the annoucement, basically Trichet hinted at possible interest rate hike in the euro zone. This caused the EURUSD to spike up, and could possibly be the turning point in the EURUSD. We'll have to wait and see. For now, let's see if Alba can muster up any good trades for us today. Remember to be patient and stick to the rules. Good luck and good trading! ~ PipCrawler












EU Session High: 1.1833
EU Session Low: 1.1765

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 - 11/18/05

7:30 pm- 1 Trade Won

Good evening everyone. Even though there were no major news reports today, the ECB announced that they are planning to raise rates to slow inflation. So of course, the EUR/USD skyrocketed and made Alba scream. There was an Alba breakout at 9:00am EST and I entered 3 lots long at 1740 with a s/l at 1688 and a target at 1772. My target was hit at 9:30 and I closed 2 lots and moved my last lots stop to the low of that candle which was 1761. That is where my last lot eventually got stopped out. Yea it was a great day but wait.....theres more! Yes, there was another Alba breakout at 11:20am EST and I entered 3 lots long at 1737 with a s/l at 1710 and a target at 1754. My target was hit at 11:40 and I closed 2 lots and moved my last lot's stop to the low of that candle which was 1743. Unfortunately that is where my last lot was stopped out. So it was a great way to end the week and once again, Alba has treated us well :) ~Big Pippin

Results:
+64 +21 -9(spread)= +76 pips
+24 +6 -9(spread)= +21 pips
Total: +97 pips














8:00 am- Analysis

Good morning! During the EU session the dollar bulls took over again pushing the EURUSD from 1.1725 down to 1.1664. Is the downtrend resuming? We'll just have to wait and see. But for now, it's friday and there aren't any economic reports coming out in the US today, so I don't see any potential for strong movement. If you had a good week, which i'm sure you did with the help of Alba, today would be a great day to start the weekend early and get away from those charts! Sunday evening, don't forget to look out for Pip Daddy's Awesome Analysis at Babypips.com! Good luck, good trading, and have a great weekend!! ~ PipCrawler


EU Session High: 1.1725
EU Session Low: 1.1664

Forex Trading - 11/17/05

9:23 pm- 1 Trade Won

Oh yea, Alba was looking sexy today with her pips. Today's trade was fairly simple and straightforward. There was an Alba signal & an Alba breakout at 10am and I entered 3 lots long at 1714 with a stop at 1691 and a target at 1728. My target was hit at 10:50 and I closed 2 lots and moved my last lot's stop to the low of the candle that candle which was 1720. The next candle made a new high so I moved my stop to the low of that candle which was 1721. That is where my last lot got stopped out. All in all, Alba was good to us today! ~Big Pippin

Results: +28 +7 -9(spread)= +26 pips













8:00 am- Analysis

Good Morning! Since yesterday, it looks like the bulls and bears have been battling it out, and the EURUSD has been finding support around 1.1650 and resistance around 1.1700. When the market ranges a breakout usually occurs. We've been in a downtrend and you know what they say, "the trend is your friend," but remember when consolidation occurs after a strong move a correction may follow. So have a plan for a break in either direction. We have US economic reports coming out at 8:30 am EST. I don't see them as market movers, but like I always say, "the market is right and it'll do whatever it wants to do." Just remember to stick to the rules! Good luck and good trading! ~PipCrawler



EU Session High: 1.1702
EU Session Low: 1.1642

Forex Trading -11/16/05

4:20 pm- 1 Small trade won

Well, it was a slow day for Alba but we managed to bag a few pips. There was a good Alba breakout at 9:30 am and I entered 3 lots short at 1658 with a s/l at 1673 and a target at 1649. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to breakeven. Unfortunately the downtrend did not continue and I was stopped out on my last lot the very next candle at breakeven. So all in all it wasn't a huge day for Alba but I can't complain about a winning trade :) ~Big Pippin

Results: +18 +3 -9(spread)= +12 pips












8:00 am- Analysis

Hello everyone! It's another exciting day in the forex, and after checking out the movement of the dollar in the EU session it looks like traders are still buying up the greenback. Today we have the CPI coming out at 8:30 am EST and the TIC data at 9:00 am EST. These have been known to move the markets, and with the huge trade defict number from last week look for the TIC data to be pretty strong. So watchout for possible whipsaws or fakeouts! By the way, if you haven't checked out Pip Daddy's Chart Analysis page on BabyPips.com, then you're missing out on some good stuff that you'll never see anywhere else on the net! Remember the rules! Good luck and good trading! ~ PipCrawler


EU Session High: 1.1729
EU Session Low: 1.1674

Forex Trading - 11/15/05

8:00 pm- No trades

After the strong move during the EU session, we did not see any clear movements during the US session because of all the economic activity that came out today. If you have the Alba system you would clearly see that there were no trades today which is a good thing because the market was ugly and was unworthy of our beloved Alba! Hopefully tomorrow will be a better day :) ~Big Pippin

Results: +0 pips












8:00 am- Analysis

Good morning everyone! German GDP came out with strong numbers last night, but the dollar still gained ground on the euro last night showing that dollar bulls are still running strong! Today at 8:30 am watch out because the US is coming out with a few economic reports that will move the market. So, as usual wait at least 30 minutes to an hour to trade to let the market digest the information. If you wait, you'll avoid the whipsaws and a trend will usually form afterwards.

If you got a chance to check out Big Pippin's review from last night, today you'll see that we are going to make some changes to the Alba system. For now, it's just going to be a 10 min chart on the EURUSD, marking the high and low of the EU session, and the 5 and 8 wma...That's it! How easy is that? So, just keep an eye out for those crosses and candle filters, or a breakout. Remember to follow the rules! Good luck and good trading! ~ Pipcrawler

EU Session High: 1.1714
EU Session Low: 1.1644

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 11/10/05

10:00 pm- 1 Trade won

Thank goodness we had a winning trade today! It was a fairly straight forward Alba breakout. At 8:50 am, there was an Alba breakout and I entered 3 lots short at 1748 with a s/l at 1776 and a first target at 1729. The target was hit at 10:00 am and I closed 2 lots and moved my stop to the high of that candle. Unfortunately, that's where my last lot was stopped out. It's too bad to because the Euro made a nice drop at around 3:00 pm. Sorry, that's my greed speaking...Control yourself! :) Anyways, it was a good day and I can't complain about a winning trade! Update for tomorrow: There will be no trading for me tomorrow since it is a US holiday and I'm not expecting much movement. I would recommend that you not trade tomorrow either, especially the US session. So with that said, there will be no posts tomorrow. However, I may post a nice joke or something :) Hope you all did well!

Results: +38 +9 -9(spread)= +38 pips












8:00 am- Analysis

Good Morning Everyone! Strong U.S. economic reports coming out today at 8:30 am EST. I highly recommend that you wait at least 30 min to an hour to let the markets digest the information before you trade. The euro made a small range of 28 pips last night, so definitely look for movement today during the US session. Good luck and good trading! ~ PipCrawler













EU Session High: 1.1789
EUSession Low: 1.1759
Calculated Target 1: 1.1842
Calculated Target 2: 1.1676

Forex Trading - 11/09/05

6:30 pm- 1 Trade lost

Argghh! That's my pirate cry. Today was not a good day for Alba, although there was a good signal given. The first Alba signal was given at 8:50 but as you can see it did not close 10 pips above the EU session high. When this happens, you should wait a little bit until there is a clear direction. You don't always have to have a breakout with the alba signal, but in this case, the price barely closed above the high (only about 4 pips above the high). Therefore I did not enter that trade. If you look again, there was another good Alba signal at 10:20 and this was also an Alba breakout. This was the perfect criteria to enter so I entered 3 lots short at 1717. Unfortunately, this was not a winning trade and I ended up losing 72 pips on 3 lots. So yea, it was not a good day today, but that's why we practice good money management :) Let's hope for a better day tomorrow.












8:00 am Analysis

Good morning! The euro edged slightly lower against the dollar last night during the EU session, so we may see the EURUSD continue to trend lower today. The US has a few economic reports coming out today starting around 9:00 am EST. These reports are not major movers, but hopefully they will move the dollar enough so that we may see an alba signal, or more likely an alba breakout. With a 49 pip range last night, we calculated that the EURUSD has about 67 pips to move in this session. Remember, to follow the rules of the system!! Good luck and good trading!! ~ PipCrawler













EU Session High: 1.1778
EU Session Low: 1.1729
Calculated Target 1: 1.1796
Calculated Target 2: 1.1662

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 - 11/07/05

10:00 pm- No trades

It was a typical Monday as the Euro ranged the whole US session. This is why Mondays can be dangerous. The movement is usually choppy. Thanks to Alba, there were no signals or breakouts and we weren't in the market today. Hopefully things will look better tomorrow. I want share something else with you all. I got an email from one of the Alba traders, Aaron, and he was kind enough to send me his trading results for today. His day ended up in a loss as he made some mistakes according the Alba rules and he wanted me to show you how breaking the rules can hurt your trading account. I commend Aaron for owning up to his mistakes and logging them because it keeps him accountable and he can learn from his mistakes. His chart is pretty self explanatory so I won't say much else about it. However, his first trade, which was a winner, does not meet the Alba signal criteria. Remember the first candle must have touched or come close (1 or 2 pips) to touching the 8 WMA. This was not the case today. However, he was able to make a small profit off of it. Anyways, hope this helps put things in perspective and again I thank Aaron for his willingness to share. ~BigPippin





















8:00 a.m Analysis

Good morning everyone!! We saw a 50 pip range due to a slew of retail reports coming out of the euro zone. USD consumer credit will be reported at 20:00 GMT, so be patient and wait for clear signals before trading. With the US economy looking strong, look for continued downside in the EURUSD. After such a strong week there is a big chance of retracement, so look out for that. Good luck and good trading!! ~PipCrawler

Eur session High: 1.1831
Eur session Low: 1.1781
Calculated Target 1: 1.1906
Calculated Target 2: 1.1706

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!