Tuesday, January 31, 2006

Forex Trade - 01/31/06

6:30 pm EST- 1 Trade won

Today was a good day for Alba. My normal charting software wasn't working today so I used NetDania which is a free charting package and it has a direct feed from FXCM (the broker I use for Alba). Surprisingly, even though it was almost certain that the Fed was going to raise rates, the Euro continued to climb and we were able to grab most of the move. At 10:40 there was both a signal and a breakout happening at the same time. If you followed me long enough then you know that when this happens it usually means there will be a good trade. I entered 3 lots long at 2138 with a stop at 2123 and a target at 2146. My target was hit at 11:30 and I closed 2 lots and moved my last lot's stop to breakeven. I continued to trail my stop until I finally got stopped out on my last lot at the low of the candle marked in the chart which was 2175. Overall, it was a very good day and I hope the rest of the week will turn out this nice! ~Big Pippin

Results: +16 +37 -9(spread)= +44 pips

8:00 am EST - Analysis

Good Morning! Well, Alba traders....it looks like an action packed day! For starters, at 8:30 am EST we have the Employment Cost Index q/q (ECI) coming out which is a broad measure of labor costs. At 10:00 am EST we have Cosumer Confidence and Chicago PMI. But the big news for the day is the FOMC meeting today at 2:00 pm EST. I know it's outside of our usual trading time period, but it will have an affect on us today as a lot of traders may stay on the sidelines to see what the Federal Reserve has to say. So, stay focused, good luck and good trading! ~Pipcrawler

EU Session High: 1.2128
EU Session Low: 1.2087

Monday, January 30, 2006

Forex Trade - 01/30/06

6:00 pm EST- No Trades

Well it was a typical Monday which means that there were no trades. Nothing exciting really happened today but I'm expecting to see some good movement this week. Be sure to check out Pip Diddy's Chart Analysis for an overview of what to expect this week. See you tomorrow!~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good morning! Welcome back to another wonderful week in Fore trading! Hopefully we will have better trades this week. Today we have the Personal Income and Personal Spending reports coming out at 8:30 am EST. Since Personal Spending accounts for a large part of GDP, it's closely watched and considered a market mover. Consensus is at 0.8% versus the previous number of 0.3%. Let's wait until these reports come out before we trade. Remember to stay focused, good luck and good trading! ~PipCrawler

EU Session High: 1.2114
EU Session Low: 1.2074

Friday, January 27, 2006

Alba results for 1/23/06 - 1/27/06

Well, this marks a historical week for the Alba as it is now only the 3rd losing week for the system. Even though we had a loss, it was nice to regain some of it on Friday. This will be the last week for January. The last 2 days of January will go towards February's results.

Monday: -36
Tuesday: -30
Wednesday: -75
Thursday: No trades
Friday: +69

Total: -72 pips

For the month of January:

10 trades
7 winners
3 losers

+195 pips

Forex Trade - 01/27/06

6:05 pm EST- 2 Trades won

Well after 2 weeks of either boredom from watching sideways charts and crying from 3 straight losses, we finally had some good trades today. At first it looked like we would see a repeat of the week. After the GDP came out, the Euro shot up and it looked like we would have a long breakout. Of course the Euro stalled and it looked like it would be another boring day. However, the New Home Sales report had a big surprise and actually went up when everyone else thought the report would show decreasing sales. This caused the Euro to spike down and I almost sobbed as I saw it fall like a waterfall. We finally had a breakout at 10:40 and I entered 3 lots short at 2151 with a stop at 2173 and a target at 2139. Our target was hit on the next candle and we closed 2 lots and moved our last lot's stop to breakeven. We eventually got stopped out on our last lot at the high of the candle shown in the picture wich was 2130. At 11:40 an Alba signal was generated. Normally I don't like trading twice in a day, especially after a win and so late in the day, but I decided to take it. I entered 3 lots short at 2123 with a stop at 2141 and a target at 2112. My target was hit and it was hit hard. 2 of my lots were closed out automatically because I had put limit orders on them to ensure I'd get a precise exit, and after the candle closed, I decided to close out my last lot because it was already late in the trading day. I closed my last lot out at 2103. Overall, today was spectacular and I'm glad we were able to end the week and month on a good note. ~Big Pippin

Breakout: + 24 +21 -9(spread)= +36 pips
Signal: + 22 +20 -9(spread)= +33 pips
Total: +69 pips

8:00 am EST - Analysis

Good Morning! Alright, can we get some movement in the market please!! Well, our wishes may be granted today with GDP. Today we have GDP coming out at 8:30 am EST. GDP is the measure of all goods and services produced by a nation's economy. It's a very important number because it gauges all of the economy activity, which in turn, is a good indicator of a nation's economic health. The consensus is 2.8% vs. the previous of 4.1%. Let's stay on our toes just in case we get an off number. As usual, we will wait 30 min or so until after the report to do any trading just in case there is extreme volatility. Stay focused, good luck and good trading! ~PipCrawler

EU Session High: 1.2217
EU Session Low: 1.2165

Thursday, January 26, 2006

Forex Trade- 1/26/06

6:06 pm EST- No Trades

Well after a series of losses, we actually did better today and stayed at 0. Instead of losing money, we simply watched the market with sleepy eyes as it stayed in its range the whole session. Even with durable goods coming out higher than expected, the big banks didn't seem to want to sell off and we saw a big correction right after the 8:30 candle. Hopefully tomorrow will be a better story and maybe we can end the week on a positive note. On a side note, the past 2 weeks have been very choppy and have hurt alot of traders I know. I hope that you all have been able to minimize your losses during these times. If you've been winning, then I bow down to you and hail you as forex king! Not really, but good job anyways :) Cheers! ~Big Pippin

Results: +0

Wednesday, January 25, 2006

Forex Trade - 01/25/06

5:55 pm EST- 1 Trade Lost

I think our momentum has finally run out. After a series of winning trades, we have now hit a wall of losses. This is a first for the Alba system and although we're still positive for the month, we are hoping to finish the month off with a win either tomorrow or Thursday. Today, there was a good breakout at 10:40 and I entered 3 lots short at 2244 with a stop at 2266 and a target at 2233. Unfortunately, 20 minutes later I was stopped out on all 3 lots. I'm staying optimistic though because I have faith in the system and I know a good trade is coming up. Discipline plays a big role in being a profitable trader so I will stick to the rules and let the system do the work for me. ~Big Pippin

Results: -66 -9(spread)= -75 pips

8:00 am EST - Analysis

Good morning! Two lost trades in a row!! Grrrr!! Well, it's a good thing we practice proper money management and we know that even the best traders have their off days. Just brush those loses off like a pro and let's get started on a new day. Today we have Existing Home Sales coming out at 10:00 am EST. This is the measure of prexisting homes sold last month. It's a strong indicator because it is a larger portion of the housing market. Also, at 11:30 am EST ECB President Trichet is giving a conference in Greece. Although his comments are within our trading time period, I doubt they will factor into the market before 12:00 pm EST, when we end our trading day. So, keep an eye out for those Alba signals and Alba breakouts, stay focused, good luck and good trading! ~PipCrawler

EU Session High: 1.2323
EU Session Low: 1.2258

Tuesday, January 24, 2006

Forex Trade - 01/24/06

6:24 pm EST- 1 Trade Lost

Mark this day on your calendars. This has been the first time the Alba system has lost 2 days in a row! It's a sad tragedy and I will be mourning the loss for a long time, haha. Ok seriously, I don't like losing and today was another loser. Fortunately it was just another small one. There was an Alba signal at 10:30 and I entered 3 lots long at 2281 with a stop at 2274 and a target at 2290. I was stopped out the very next candle on all 3 lots at 2274. Bummer. I kind of had a feeling this would happen especially with the lack of economic reports today, but hopefully the rest of the week will be better. ~Big Pippin

Results: -21 -9(spread)= -30 pips

8:00 am EST - Analysis

Good Morning! Let's see what we have lined up for today......absolutely nothing! It look like it's going to be a snoozer as far as economic reports. Good news is there aren't any time frames where we have to be cautious, so if you see a vaild Alba signal or Alba breakout take the trade! Just in case you like to look at other pairs be on the look out for a big move in USDCAD today. At 9:00 am EST, the BOC is coming out with an interest rate decision. Consensus is that they will lower to 3.0%. So watch out for volatility after that time and see if a trend forms. Whatever pair you decide to trade today remember to stay focused, good luck and good trading! ~PipCrawler

P.S. - Check out my new chart of the day at http://www.babypips.com/forex-analysis/pick-of-the-day.html!

EU Session High: 1.2295
EU Session Low: 1.2260

Monday, January 23, 2006

Forex Trade 1/23/06

6:03 pm- 1 Trade lost

Well after a incredibly flat week last week, we had an Alba signal. Unfortunately, it ended up turning out to be a loser. The trade wasn't really worth that much. It was more of a scalp trade but nevertheless, it was still a signal. The signal occured at 8:50 and we entered 3 lots short at 2274 with a stop at 2283 and a target at 2268. We were stopped out on all 3 lots on the very next candle. Not a great start to the week but luckily the loss was fairly small. For the most part, the market was still sideways considering we had that big move the night before. Hopefully the rest of the week will be better. ~Big Pippin

Results: -27 -9(spread)= -36 pips

Alba results for 1/16/06 - 1/20/06

Well to sum up this past week in one word I'd use the word "boring". There were absolutely no trades which is extremely rare. The lesson for the week was definitely patience. Hopefully next week will be better.

Monday: Holiday
Tuesday: No Trade
Wednesday: No Trade
Thursday: No Trade
Friday: No Trade

Total: +0 pips

Friday, January 20, 2006

Forex Trade - 01/20/06

Late Post- No Trades

Sorry for the delay of this post. I guess you can say I took an early start to my weekend :) Unfortunately there was no trade again and that completed a no trade week. I don't think I can recall a time when this last happened to me so it was definitely a surprise. We learned a lot of patience and at the same time were able to stay out of that chaotic sideways market. The next week has a few reports coming out so we'll see if the market will start to move. ~Big Pippin

Results: +0

8:00 am EST - Analysis

Good morning! Well, it's Friday and it's been a pretty frustrating week, but hopefully today we'll see some some action. Today at 9:45 am EST we have the U. of Michigan consumer sentiment report. It is a 500 person survey that reports the consumers' views of current and future spending conditions. The consensus is 92.5 vs 91.5 previous. So, let's see what happens until then. The EURUSD made a 51 pip range last and still looks to be in consolidation mode. It seems like traders just don't know what to do. That's okay...just follow the rules of our precious Alba and you'll be okay. Good Luck and Good Trading! ~PipCrawler

EU Session High: 1.2091
EU Session Low: 1.2040

Thursday, January 19, 2006

Forex Trade - 01/19/06

9:08 pm EST- No Trades....again!

Well, today was pretty much a tease, and for good reason too. The US Housing starts report was lower than it's previous report which meant a bullish sign for the Euro. However, jobless claims went down signifying a good job market in the US. This was a bearish sign for the Euro. So you can kind of guess what happened today. From about 8:30-9:20 the Euro looked like it would fall past its low but everytime it got down there, the buyers would push it back up. Then the Euro took off and at 10:30 we had an Alba signal but it closed right at the EU high so no trade was entered and we waited for a breakout. The 1040 and 1050 candle looked like they would be good breakout candles but they didn't quite meet our criteria for the Alba breakout so again we did not enter. After that, the market just hung around and really didn't do much. With all this consolidation this week, I'm expecting some kind of movement in the near future. It could be tomorrow or it could be sometime next week. I strongly recommend you visit Pip Diddy's chart analysis for a bigger picture of the Euro at the moment. The big word of the moment is CONSOLIDATION! Hopefully we'll see some sexiness tomorrow. ~Big Pippin

Results: +0

8:00 am EST - Analysis

Good Morning! It's another wonderful day in the world of Forex trading! For those of you who traded Alba yesterday, we didn't get any valid signals or breakouts. Hopefully, it'll be a different story today. Not much in the way of US economic reports. The most notable for today are coming out at 8:30 am EST. We have Initial Jobless claims (measures the number of unemployment insurance claims filed last week), and Housing starts(the number of new family homes built). These aren't really big reports, so I'm not expecting much movement after their release. But like we always say, "the market is always right, and does what it wants to do." So, as always, stay focused, remember the rules of our beloved Alba, and be patient. Good Luck and good trading! ~ PipCrawler

EU Session High: 1.2106
EU Session Low: 1.2059

Wednesday, January 18, 2006

Forex Trade - 01/18/06

8:20 pm EST- No Trades

Good evening everyone! It was definitely a strange day in the market. The CPI and TIC data came out today which made promise for a strong move, but unfortunately it did not give us a clear direction. The TIC data came out higher than expected at 89 billion which led me to believe that the EUR would drop. It was kind of strange because the EUR actually went up for a little bit and almost gave us a breakout for a long trade. After about an hour after the report came out, the EUR finally dropped. It hung around the EU low for a while and made one final push before 12 but couldn't break through. As a result, we once again had no trades today. Hopefully we'll get some direction by the end of this week. Cheers! ~Big Pippin

Results: +0

8:00 am EST - Analysis

Good Morning! Looks like an action packed day for the Alba session as we have a few major US economic reports coming out today. Most notably we have CPI(excl. food & energy) at 8:30 am EST and the TIC report at 9:00 am EST. Both have a high potential to move the market, especially if the numbers are off consensus. The Consumer Price Index is the measure of inflation felt by consumers, and CPI(excl. food & energy) consensus is coming in at 0.2%. The TIC data measure the foreign demand of US debt and assests. Last time we saw a record number of 104B, but this time consensus is coming in at 74B. Lately, it seems like the market is taking a little bit longer to factor in news reports. So, Alba traders be especially wary of these moves. Be patient and wait for the signals/breakouts. Good luck and good trading! ~PipCrawler

EU Session High: 1.2152
EU Session Low: 1.2080

Tuesday, January 17, 2006

Forex Trade - 01/17/06

5:55 pm- No trades

Good ol' Tuesdays! Today was very boring. The US Industrial Production and Capacity Utilization Rate didn't do anything to the market. You can see from the chart that the price stayed right around the EU low for the whole day. We almost had a breakout between 10-11am, but the criteria wasn't met. It's a good thing too because this market was ugly and that is definitely NOT Alba :) Hopefully tomorrow will be better. ~Big Pippin

Results: +0 pips

8:00 am EST - Analysis

Good morning! Hope everyone had a great three day weekend!! Sorry about the late morning start, I'm having technical issues, but I'm ready to go now! We have US Industrial Production and Capacity Utilization Rate coming out at 9:15 am EST today. Industrial Production measures to the total output of utilities, mines, and factories. It's an indicator of strength of the economy. Capacity Utilization Rate is the measure of the percentage of available resources being utilized. This indicator may signal inflationary pressures. So, watch out at 9:15 am EST. Hopefully, afterwards it'll give us a strong enough move for a breakout or Alba signal. Good luck and good trading! ~PipCrawler

EU Session High: 1.2139
EU Session Low: 1.2057

Monday, January 16, 2006

Alba Results 1/9/06 - 1/13/06

Hello everyone,

We had a very solid week last week and ended up being 4 out of 4 with our trades. Hopefully we will have another good week this week. I am also going to start posting our actual statements of the account we are trading during our Learn N Trade sessions. That way you can see our actual entries and exits. See you all tomorrow!

Monday: No Trades
Tuesday: +19
Wednesday: +18
Thursday: +89
Friday: +59

Total: +185 pips

FXCM Account Statement
(Note: The statement only shows our Learn N Trade sessions which take place Wednesday-Friday)

Friday, January 13, 2006

Forex Trade - 01/13/06

6:05 pm- 1 Trade Won

Just when I thought there wasn't going to be a trade today, the market decided to move at the last minute. At 10:40, there was an Alba signal but because it closed right at the EU high, we did not enter. However at 11:30, there was a good Alba breakout and we entered 3 lots long at 2100 with a stop loss at 2066 and a target at 2119. I was getting kind of worried because the trade was so late in the day that I wasn't sure if there would be any juice left in the Euro to hit our target. Fortunately at 12:30 our target was hit. Instead of trailing my last lot's stop I decided to close it because it was so late in the day. I ended up closing my last lot at 2130. Overall it was great ending to a fantastic week. I will not be trading on Monday because of the holiday. I think I deserve a good long weekend to relax and enjoy life :) Have a great weekend everyone! ~Big Pippin

Results: +38 +30 -9(spread)= +59 pips

8:00 am EST - Analysis

Good Morning! Watch out now, its FRIDAY 13TH!! hehe ... It's a good thing we're hardcore traders and don't believe in superstition right?! =) Well, Alba traders it looks like it'll be another action packed day in the forex markets with PPI coming out in the US at 8:30 am EST. Now PPI is the meausre of inflation experienced by manufacturers, but the report to watch is PPI excluding Food and Energy. Consensus is 0.2% vs. 0.1% previous. Let's see if there is a surprise...as always remember the rules and lets be patient and wait to see if there's any whipsaws or extreme volatility. With a 45 pip range in the EURUSD during the EU session I have a feeling a lot of traders are waiting for this report. Stay focused, good luck and good trading! ~PipCrawler

EU Session High: 1.2084
EU Session Low: 1.2039

Thursday, January 12, 2006

Forex Trade - 01/12/06

7:10 pm- 1 Trade Won

Good evening everyone! Finally with a worthy news report, the trade balance, the Euro made a good move today. At 8:15, the Euro broke out of it's range, but I didn't want to enter because I knew the trade balance was coming out at 8:30. I waited until the 8:50 candle before I entered because it was 20-30 minutes after the news and it made another good breakout from the low. I got in 3 lots short at 2075 and had a stop at 2118 and a target at 2054. My target was hit the very next candle and I closed 2 lots and moved my last lot's stop to breakeven. I trailed my stop to the high of the candles shown on the charts and I was eventually stopped out at the high of the 10:10 candle at 2019. Overall it was a very good day. Hope you all did well. ~Big Pippin

Results: +42 +56 -9(spread)= +89 pips

8:00 am EST - Analysis

Good Morning! Finally, we have an action packed day of US reports, and with the EURUSD ranging only 42 pips during the EU session, it looks like traders have been waiting. The big one today would have to be the US Trade Balance coming out at 8:30 am EST among others. The Trade Balance report measures the difference between total imports against total exports, and it can affect a country's GDP. In recent reports, the US trade balance report has be releasing record numbers causing big moves in the dollar, so watch out! Also, for those of you who trade USDCAD, canada is also releasing their Trade Balance report. Okay Alba traders, be very cautious and patient around these news releases. Follow the rules! Good luck and good trading!! ~PipCrawler

EU Session High: 1.2162
EU Session Low: 1.2120

Wednesday, January 11, 2006

Forex Trade - 01/11/06

7:00 pm EST- 1 Trade Won

Even with the lack of economic reports, we were still able to manage a winning trade today. There was an Alba breakout at 9:30 and I entered 3 lots long at 2105 with a stop at 2092 and a target at 2117. My target was hit at 9:50 and I closed 2 lots and moved my last lot's stop to breakeven. Unfortunately I was stopped out on my last lot. I'm very happy that I was able to grab these 2 wins since nothing major has been going on. We'll see if the streak will continue. Hope you all did well! ~Big Pippin

Results: +24 +3 -9(spread)= +18 pips

8:00 am EST - Analysis

Good morning! Well, it looks to be like another lackluster day in the markets as there a no US economic reports coming out today. The only event of any significance for the US is the New York Fed Pres. Geithner speaking at 12:30 pm EST. So, today I would like to point out a great resource on the internet to traders. www.innerworth.com is a great website on trading psychology, and when you sign up you get an email everyday that'll help you get you mind into trading mode. Check it out! Now, for you Alba traders today....please be patient, and expect a slow, slow day...that's just how the market goes sometimes. Good luck and good trading! ~PipCrawler

EU Session High: 1.2097
EU Session Low: 1.2044

Tuesday, January 10, 2006

Forex Trade - 01/10/06

6:30 pm- 1 Trade won

Good evening everyone! Although there were no important economic reports today, we were able to grab some pips as the Euro ranged between its high and low. Our signal came right at the close of the 8am candle and since there were no news reports coming out at 8:30 I entered 3 lots short at 2064 with a stop at 2079 and a target at 2056. My target was hit at 8:30 and I closed 2 lots and moved my last lot's stop to breakeven. The next candle made a new low and I moved my stop to the high of that candle which is where I eventually got stopped out at 2052. Overall, it was a pretty straightforward day. Hope you all did well. ~Big Pippin

Results: +16 +12 -9(spread)= +19 pips

8:00 am - Analysis

Good morning! Today looks like it may be another slow day for all you Alba traders. We have Wholesale Inventories at 10:00 am EST. The consensus is 0.4% vs previous of 0.2%. This report is not really consider a market mover, and since it's the only US economic report today, we don't expect much movement again. I hope you have received Pip Diddy's Chart Analysis this weekend in your email. If not, make sure you go to www.babypips.com and make sure you sign up for it! He's got some pretty good long term views on the EURUSD. Remeber to stay focused and watch out for support and resistance around the EU session high and lows. Good luck and good trading!~ PipCrawler

EU Session High: 1.2108
EU Session Low: 1.2036

Monday, January 09, 2006

Forex Trade - 01/09/10

8:30 pm- No trades

As expected, there were no trades today. There were no significant economic reports that came out during our trading hours so nothing really moved the market. Hopefully tomorrow will be better. Hope you all stayed out of the Euro today. ~Big Pippin

Results= +0

8:00 am - Analysis

Good Morning! Hope everyone had a great weekend! Today, it looks like we do not have any US economic report releases during our normal trading hours of 8:00 am EST to 12:00 pm EST. For those of you who trade outside of this time frame we have Consumer Credit out at 3:00 pm EST today, so watch out for movement at that time. For you Alba traders, we might not see any breakouts of the high or low without and data release. Days like this have a high probability of price reversal near the highs and lows, so watch out. Remember, to always remember the rules and stay focused. Good luck and good trading. ~ PipCrawler

EU Session High: 1.2135
EU Session Low: 1.2063

Sunday, January 08, 2006

Trade Results for 1.03.06 - 1.06.06

Well it was a great start to the new year for the Alba system. We only had 2 trades, but they were both winners and I can't complain about that.

Monday: Market Closed
Tuesday: +36
Wednesday: No Trades
Thursday: No Trades
Friday: +46

Total: +82 pips

Friday, January 06, 2006

Forex Trade - 01/06/06

1 Trade Won

With NFP coming out at 10am, we waited after that news candle before looking for a trade. I actually messed up my targets and came out with more pips than I was supposed to but it was because I got lucky. However, according to the Alba rules, the trade would have won...I just happened to bag a few extra pips. For the purposes of keeping the Alba record honest, I'll post the correct Alba trade. The breakout was at the close of the 8:40 candle and we would've entered 3 lots long at 2146 with a s/l at 2101 and a target at 2172. Our target would've been hit on the next candle and we would've closed 2 lots and move our last lot's stop to breakeven. Our last lot would've gotten stopped out on the next candle. It was a great day and a perfect way to start the weekend :) Hope you all did great this week. ~Big Pippin

Results: +52 +3 -9(spread)= +46 pips

8:00 am - Analysis

Good Morning!! Well, it's that time of the month again...US Non-Farm Payroll report!! This is the report that measures the number of new jobs created. If this number rises that means more jobs added to the economy which increases the value of a country's currency and vice versa. The consensus is at 215K matching the previous number, but you never know if there will be a surprise. Be very cautious, it is highly recommend that you wait 30 min to and hour before and after this report comes out to trade. Usually a trend forms after all the whipsaws and volatility, so please be patient. Alba traders please be patient, stay focused, good luck and good trading! ~ PipCrawler

EU Session High: 1.2103
EU Session Low: 1.2081

Thursday, January 05, 2006

Forex Trade - 01/05/06

No Trades

Again, due to the lack of news reports, there was no movement in the Euro today. The Euro simply moved in between the EU session high and low. Pretty straightforward. There weren't even close signals or breakouts. ~Big Pippin

Results= +0

8:00 am - Analysis

Good Morning!! Looks like the EU is still in sideways mode after the mixed data coming from the EU. Also, I think a lot of traders are gonna stay to the sidelines to wait for the NFP report coming out tomorrow. Until then, let's see what we've got today. At 8:30 am EST US Unemployment Claims are out, and at 10:00 am EST ISM Non-Manufacturing Index. Not too much weight put on them, but remain cautious around those times. On a side note, the new chart analysis should be coming out this weekend from Pip Diddy at www.babypips.com, so look out for that update! Good luck and good trading!!

EU Session High: 1.2111
EU Session Low: 1.2066

Wednesday, January 04, 2006

Forex Trade - 01/04/06

6:55 pm- No Trades

With no big news reports coming out today, it was a pretty boring day in the market. You can see from the charts that the Euro went sideways the whole day and produced large spikes. Luckily no Alba breakouts or signals were triggered and we were able to avoid this catastrophe. Hopefully tomorrow will be better. Lesson for the day= Patience pays off! ~Big Pippin

Results: +0 pips

8:00 am - Analysis

Good Morning! Well, the EURUSD made a big range in the EU session last night(probably due to EU CPI report which came inline at 2.2%). With no major economic news it looks like it might not see any major moves. That makes a good environment to take an Alba signal if it happens. At 10:00 am EST we have Factory Orders and Inventories (NOV). We usually go with what www.forexfactory.com says as far as importance of news reports, and today there isn't much. So, as with everyday...stay focused, good luck and good trading. ~ PipCrawler

EU Session High: 1.2110
EU Session Low: 1.2033

Tuesday, January 03, 2006

Forex Trade - 01/03/06

7:45 pm- 1 Trade won

Well it's great to be back! I hope you all had a very merry Christmas and a happy New Year! I know I did. My stomach grew a full 2 inches :) Today was an excellent day to come back to the market. At 9:20 there was a signal candle but the entry candle closed too close to the EU session high. I thought the price might drop back down but instead it made a nice breakout on the very next candle. Since I still had some time before the news, and because there was both a signal and a breakout, I decided to enter the trade, but I had full intentions of closing it out at 10am for the ISM report regardless if I won or lost. I entered at 1919 with a stop at 1882 and a target at 1938. At the close of the 9:50 candle the price was at 1934 and I closed all 3 of my lots. Because the market moved so quickly, I didn't want to re-enter after the news because the risk would've been really big and I had already won for the day so I decided not to trade again. It was a nice long move and even though I didn't get all of it, I'm still happy with a win. ~Big Pippin

Results: +45 -9(spread)= +36 pips

8:00 am - Analysis

Good Morning and Happy New Year!! I hope everyone's holiday season was great! It's a new year and time to start making some pips again! Today, we don't have any US economic reports until 10:00 am EST. ISM Manufacturing and Construction spending is coming out at that time, so be careful with the Alba system around that time. Now, we usually don't trade until after 12:00 pm EST, but just to let you know, the FOMC minutes are being released at 2:00 pm EST. The FOMC minutes is a record of the last meeting, where traders can find out exactly what policy changes and interest rate decisions were made. It's considered to be a major market mover, so be very very cautious around then. Well, good luck, good trading, and let's start 2006 out with a bang! ~ Pipcrawler

EU Session High: 1.1901
EU Session Low: 1.1859

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