Forex Trade - 02/28/06

3:42 pm EST- 1 Trade won

With the plethora of news events today, we finally saw some action. At 10 am both the consumer confidence report and the Chicago PMI came out with disappointing numbers. This prompted the Euro to rise and at the close of the 10:10 candle (which was 10:20) there was an Alba signal/breakout which was a very good sign for a trade. I entered 3 lots long at 1913 with a stop at 1896 and a target at 1927. My target was hit on the next candle and I closed 2 lots and moved my last lot's stop to breakeven. I trailed my stop and was eventually stopped out at the low of the candle that is marked in the chart which was at 1920. So after a long wait, we finally got a win. Thank goodness! ~Big Pippin

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















8:00 am EST - Analysis

Good Morning! Well, it looks like we have an action packed day in the US session with the release of five US economic reports and two Fed speakers. At 8:30 am EST we have probably the most watched news of the day with US GDP (q/q). GDP is up there as far as potential volatility, so be very very careful around this time. At 10:00 am EST we have Consumer Confidence, Chicago PMI, and Existing Home Sales. All have the potential to move the markets. So, for all of you Alba traders I think be cautious and focused. I think the GDP report is going to set the mood today for the US dollar, so hopefully we'll see a good Alba trade setup and the EURUSD trend today. Good luck and good trading! ~Pipcrawler











EU Session High: 1.1893
EU Session Low: 1.1840

Forex Trade - 02/27/06

3:35 pm EST- No trades

Hmmm....what a surprise. No trades! True, it is Monday but the lack of trades really makes for some boring work (yes trading is work). As lazy as I am this is too long of a period to not do anything. Even with the new home sales report, the market barely flinched. As frustrated as I am, I have learned that keeping your emotions in check will keep you disciplined and prevent you from doing anything stupid. In this case, many of you might be anxious to push the "trade" button on your computer, but remember, patience and discipline is the key to successful trading. Hope you all had a great weekend and let's hope for a better week than last :) ~Big Pippin

Results: +0 pips














8:00 am EST - Analysis

Good morning! Hope everyone had a great weekend! Today the only US economic report we have to day is the US New Home Sales Report. It has a pretty low rating as far as potential volatility, but we'll still keep an eye out for it at 10:00 am EST. ECB president Trichet is speaking on the Euro at 8:00 am EST and if he does make any significant comments it should filter into the market within the next hour or two. The EURUSD made a small range of 25 pips last night, so look out for a possible breakout today. Mondays are usually a tough day to trade, so stay focused. Good luck and good trading! ~ Pipcrawler











EU Session High: 1.1862
EU Session Low: 1.1837

Alba Results for 2/20/06 - 2/24/06

Well, it's been a tough week as well as the ending to a tough trading month. By far, this has been the most difficult month I've had with the Alba system. The plus side is that even though it was a rough month, we were still able to remain positive for the month. I'm hoping for a much better month in March.

Results for the week:

Monday: No trades
Tuesday: No trades
Wednesday: No trades
Thursday: No trades
Friday: -51 pips


Overall Alba Track Record

Forex Trade - 02/24/06

2:52 pm EST- 1 Trade Lost

What a drag! We waited all week for a trade and when we finally saw a good opportunity it didn't go our way. Sigh...the life of a trader :) At about 10:50 we saw a good Alba breakout and we entered 3 lots short at 1866 with a stop at 1880 and a target at 1858. Unfortunately we were stopped out on all 3 lots at 11:40. It was a tough week and was a symbolic conclusion to this awful trading month. Hope you all were able to do better than me. ~Big Pippin

Results: -42 -9(spread)= -51 pips














8:00 am EST - Analysis

Good morning! Well, it's been a pretty slow week for all of you Alba traders, so hopefully we'll have a chance to end it strong today. We have US Durable Goods Orders at 8:30 am EST today. It is the meaure of the monthly increase in new purchase orders of hard goods from manufacturers. It tends to be an erratic number from month to month, so it does provide a higher chance of volatility in the market. I would be cautious around this time and after that it's pretty much open trading until the end of our session. It's Friday, so we always recommend not to hold positions over the weekend. This is especially true today with Bernanke speaking at 5:30 pm EST. Good luck, good trading, and have a great weekend! ~ Pipcrawler











EU Session High: 1.1927
EU Session Low: 1.1882

Forex Trade - 02/23/06

4:07 pm EST- No Trades

Unlike the other days this week, there was actually some movement today. However, we still did not see a reliable signal or breakout. The lower than expected jobless claims is probably the reason for the fall in the Euro, but it wasn't enough to push it beyond the EU session range. At 940 it looked almost like a signal, but the first candle didn't quite meet our criteria. If you happened to enter on accident, you still would've won provided that you calculated your target correctly. After that, there wasn't anything else exciting and the market just kind of stayed flat for the rest of the day. I'm really hoping for a trade tomorrow as today was a real tease! ~Big Pippin

Results: +0 pips














8:00 am EST - Analysis

Good Morning! Well we had some record news coming out of GER causing the majors, including EURUSD, to make strong moves during the EU session. Today we have weekly Unemployment Claims at 8:30 am EST and EIA Crude Oil Inventories at 10:30 am EST. Not considered market movers, but as you can see from last night, surprising numbers can do big things in the forex market. With a wide range such as last night, let's look for an Alba signal with a move down to the bottom of the range, or a possible breakout if it moves to the upside. Good luck and good trading! ~Pipcrawler











EU Session High: 1.1957
EU Session Low: 1.1896

Forex Trade- 2/22/06

4:10 pm EST- No trades

3rd day in a row we haven't seen action. Core CPI rose but it didn't have much of an impact on the market. There hasn't been much to say about these 3 days because nothing has really happened. Let's just be glad that we haven't been caught in these sideways movements. Hopefully the next two days will give us some pips.

Results: +0 pips

Forex Trade - 02/21/06

4:50 pm EST- No Trades

Once again, it was a dull day in the market. The Euro range was very small so I was expecting a breakout, but it didn't happen that way. A couple times the Euro looked like it would move out of its range but it didn't meet our criteria for an Alba breakout so hopefully you stayed out today. Hopefully tomorrow will be better.

Results: +0 pips














8:00 am EST - Analysis

Good Morning! From the looks of a 24 pip range durning the EU session, traders are still sitting on the sidelines. The biggest reason for lack of volatility is the release of the US FOMC minutes at 2:00 pm EST. It's been a very difficult time to trade. Traders are expecting at least two more interest rate hikes, but US economic data may say otherwise. The FOMC report may give clarity to the Fed's future moves and hopefully give the market some direction. We do have the US Leading indicators report coming out at 10:00 am EST, but because most of these indicators are previously reported, the report usually has little affect. Alright Alba traders, let's stay focused! Good luck and good trading! ~Pipcrawler











EU Session High: 1.1923
EU Session Low: 1.1899

Forex Trade- 2/20/06

4:16 pm EST- No Trades

Hello everyone. Hope you all had a great weekend. For those of you who know my trading style, you'll know that I don't like to trade on holidays because:

1) The market is usually very quiet which makes for dangerous trading conditions
2) I like having a break from staring at the charts. It gives me time to catch up on playing pool :)

If you did look at the markets today, you'll notice that there almost was a signal at 10:50 but if you're intuitive, you would've noticed that the profit potential was only like 1 pip. NOT worth it, especially during the holiday. Needless to say, I hope you did not enter the market today. Hopefully we will better movement throughout the rest of the week. ~Big Pippin

Results: +0 pips

Alba Results- 02/13/06 - 02/17/06

Finished the week on a good note and stayed positive. It's been a slow month for February but we are still in the green which is a very good sign during these confusing times.

Monday: +5
Tuesday: -21
Wednesday: +21
Thursday: No Trades
Friday: +31

Total: +36 pips

Forex Trade- 2/17/06

4:02 pm EST- 1 Trade Won

We were able to close the week with a positive note. Although the PPI was higher than expected the consumer sentiment was weaker and caused a slip in the dollar. This meant that the Euro gained some grounds against the USD today. At 10:00 am there was an Alba breakout and we entered 3 lots long at 1902 with a stop at 1888 and a target at 1912. Our target was hit on the next candle and we closed 2 lots and moved our last lot's stop to breakeven. We moved our stop on the next candle to 1922 but we were stopped out when the price made a slight retracement to 1920 before moving back up. Although we didn't grab the extra pips, we were still able to end the week on a good note. Have a great weekend everyone!

Results: +20 +20 -9(spread)= +31 pips

Forex Trade - 02/16/06

2:38 pm EST- No Trades

Even with Bernanke's testimony today, the market stayed relatively flat. Housing starts made a surprise as it was higher than expected. However, the Euro still continued to rise. I don't know why the market does what it does sometimes, but I'm glad there were no breakouts or signals today. Hopefully tomorrow will give us a good trade.

Result: +0 pips













8:00 am EST -Analysis

Good Morning! We have a few US economic reports coming out at 8:30 am EST today such as Import Prices, Housing starts, and the weekly Unemployment Claims. The big news of the day is is going to be Fed Chairman Bernanke speaking again today on monetary policy at 10:00 am EST. Again let's wait until after he speaks before we enter any trades to filter out any whipsaws and volatility. Good luck and good trading! ~Pipcrawler











EU Session High: 1.1887
EU Session Low: 1.1848

Forex Trade - 02/15/06

4:55 pm EST- 1 Trade Won

With the plethora of news reports today, the market moved with alot of juice. However, we didn't see a clear direction until after Bernanke (Triple B) spoke. At 11:20 we saw an Alba breakout and I entered 3 lots short at 1887 with a stop at 1905 and a target at 1877. Our target was hit at 11:40 and I closed 2 lots and moved my last lot's stop to breakeven. I moved my stop to 1877 when the next candle made its move down and then got stopped out on that same candle. Overall it was a decent trade and cancelled out our loss from yesterday.

Results: +20 +10 -9(spread)= +21 pips













8:00 am EST - Analysis

Good Morning! We have quite a few economic reports today. Most notably, the Treasury International Capital (TIC) report is coming out at 9:00 am EST. The TIC report measures the foreign demand of US debt and assets. It's a very important report, so let's keep an eye out for that. Probably the biggest event to watch today is the new Fed Chairman Bernanke at 10:00 am EST. He is giving his first testimony and traders will be watching for any clues to what he may do with interest rates. Well, it's an action packed day, so let's stay focused. Good luck and good trading! ~Pipcrawler











EU Session High: 1.1917
EU Session Low: 1.1901

Forex Trade - 02/14/06

4:48 pm EST- 1 Trade Lost

In typical Valentine's day fashion, my heart was broken. Alba teased us with a trade by giving us pips....AFTER we closed out our lots. At 8:30, Retail sales came out and an Alba breakout was formed, but because we don't trade news candles, we didn't enter. At 11:30, there was an Alba signal and I entered 3 lots long at 1906 with a stop at 1886 and a target at 1917. I held onto my trade longer than normal because if you notice the charts, the price seemed to find support at the EU low. By 2 pm I had gotten to just about breakeven so I decided to go ahead and close out my orders at 1902. Then Alba decided to tease us by hitting our target after we got out at 3 pm. What a heartbreaker! Hope your Valentines day had more love then Alba, haha. ~Big Pippin

Results: -12 -9(spread) = -21 pips















8:00 am EST - Analysis

Good morning! We have Retail Sales and Business Inventories coming out today at 8:30 am EST today. The Retail Sales report is the one to watch. A rise in retail sales indicates a rise in consumer spending which is good for a country's currency. The forcast number is 0.9%. Let's see if there's a surprise. Good luck and good trading! ~Pipcrawler











EU Session High: 1.1919
EU Session Low: 1.1891

Forex Trade - 02/13/06

3:25 pm EST- 1 Small Trade Won

Hello everyone. Like a typical Monday, the Euro moved very little today. Before I begin today's trade analysis, I'd like to point out that I did not take this trade. I've said this to many of our traders and that is I don't like taking trades unless our profit potential is at least 5 pips after the spread on our first target. That was not the case today. The candles were so small that even though we saw a signal, it was not worth it for me to enter. This trade still turned out to be a winner and I will still record it as a winner. In fact, no matter what, from now on I will post the actual Alba trade whether or not I took it and record the wins and losses. That way it will make for better record keeping.

Ok, on for today's trade. There was a signal at 10:20 and 3 lots would've been entered long at 1901 with a stop at 1894 and a target at 1905. The target was hit on the next candle and 2 lots would've been taken out and the last lot's stop would be moved to breakeven. The next candle made a next high but you would've been stopped out at the close because it moved lower than the low of that candle. The exit would've been 1907.

Results: +8 +6 -9(spread)= +5 pips













8:00 am EST - Analysis

Good Morning! Today looks like it's going to be a slow day as there are no major reports coming out during our trading period. I suspect it's going to be a snoozer because tomorrow we have the E-12 GDP at 5:00 am EST, along with US economic reports coming out at 8:30 am including US Retail Sales. Also, the new Fed Chairman Bernanke will be giving a testimony to the US Senate on Wednesday. Traders maybe be waiting to see if he will give any clues as to what he will do with interest rates. Okay Alba traders, let's stay focused, and trust in the system. Good Luck and Good Trading! ~Pipcrawler











EU Session High: 1.1918
EU Session Low: 1.1879

Alba Results- 2/6/06 - 2/10/06

Not the best week for Alba but still managed to end up positive for the week* (technically. See Friday's trade). I've been saying this all week but this is a tough time for the EUR/USD and if we can get through this next month or so, it will definitely pay off in the long run when the pair starts to trend again. Hope you all had a good week. Have a great weekend!

Monday: No trades
Tuesday: +8
Wednesday: No trades
Thursday: -69
Friday: +99

Total: +38 pips

Forex Trade - 02/10/06

2:50 pm EST- 2 Trades Won

Today was a fabulous day for the Alba system. There were 2 very clear trades although during our session we only took the first one. The first trade came as an Alba breakout at 8:40 after the announcement of a widened trade gap for the US. At 8:40 we entered 3 lots long at 1997 with a stop at 1979 and a target at 2006. Our target was hit on the next candle and we closed 2 lots and moved our last lot's stop to breakeven. We trailed our stop until we were taken out at the low of the candle that is marked in the chart which was 2010.

The 2nd trade came at 10:20 after a perfect Alba signal. Although we didn't enter, I will walk through the trade as if we did. We would've entered 3 lots short at the close of 10:20 candle which was 1968 with a stop at 1996 and a target at 1952. The target was hit on the next candle and 2 lots would've been closed out and the last lot's stop would be moved to breakeven. The trade would still be open, but the people who know my trading style know that I like to hold until about 12:30 to 1 so I probably would've closed at the candle that is marked on the chart which was 1914.

Results:
Breakout: +18 +13 -9(spread)= +22 pips
Signal: +32 +54 -9(spread)= +77 pips (if we had taken it)
Total: +99 pips













8:00 am EST - Analysis

Good Morning! We have one of the big monthly reports today at 8:30 am EST. The Trade Balance is the monthly report of the difference between a country's total import and total export of goods. The forcast number for the US today is -65.0B. We always recommend against trading right before and after the release of big reports. Hopefully, for us Alba traders, we'll get a good trade setup. Remember to be patient, stay focused, good luck and good trading! ~Pipcrawler











EU Session High: 1.1986
EU Session Low: 1.1954

Forex Trade - 02/09/06

3:24 pm EST- 1 Trade Lost

Well with another day of uneventful forex news, I was very surprised to see an Alba breakout. Be that as it may, we had an Alba breakout at 10:00 am and I entered 3 lost short at 1953 with a stop at 1973 and a target at 1939. Because the Euro had dropped so fast, and with no economic reports the price stalled and we were eventually stopped out at 12:50. Some of our students closed their positions earlier and were able to cut some of their losses. Needless to say, it was a pretty, um, "crummy" day for the Alba system. Very cautious times right now with this pair so if we can get through this rough time with minimal losses, it will be a tremendous gain in the long run. Til tomorrow! ~Big Pippin

Results: -60 -9(spread)= -69 pips















8:00 am EST - Analysis

Good Morning! It looks like the only US economic report we have coming out today is the weekly Unemployment Claims at 8:30 am EST. It's not known to be a big market mover, but we will still be cautious around that time period. Other than a big surprise in that number, I don't see the EURUSD moving a whole lot in this trading session. Many traders are on the sidelines waiting for the Trade Balance report coming out tomorrow at 8:30 am EST. Well, the EURUSD made a 30 pip range, so let's be on the look out for a possible breakout. Stay focused, good luck and good trading! ~Pipcrawler











EU Session High: 1.1994
EU Session Low: 1.1964

Forex Trade - 02/08/06

4:52 pm EST- No trades

With the lack of economic reports today, the Euro stayed pretty flat. We almost had a breakout at 11 and 11:20 but it didn't quite meet our criteria and we stayed out. Overall it was a pretty dull day but I expect that it will pick up some steam by the end of this week. The question is how long will this selling pressure last? Interest rates are almost certainly going to go up for the USD but the ECB has also made hints of raising rates as well. Also, the long term yield differential hasn't been as wide as its been before which also adds to the confusion. These are some tricky times for the Euro and each report will play a vital role on how the pair will play out. Stay tuned for more excitment! ~Big Pippin

Results: +0 pips













8:00 am EST - Analysis

Good Morning! There are no economic reports coming out today, but we do have US Treasury Secretary Snow speaking at a Senate meeting today at 10:30 am EST. If his comments would affect the market today, I don't think it will affect the forex markets until after our trading time frame. So, it looks like open trading until about 11:00 am - 12:00 pm EST. Remember the Alba rules, good luck and good trading!! ~Pipcrawler












EU Session High: 1.1980
EU Session Low: 1.1940

Forex Trade- 2/7/06

4:11 pm EST- 1 Small Trade won

Although it wasn't a huge gain, we did manage to pull out a few pips from Alba today. At 10:50 there was an Alba breakout and I went 3 lots short at 1951 with a stop at 1965 and a target at 1944. My target was hit on the next candle and I closed 2 lots out and moved my stop to breakeven where I was stopped out on at the same candle. It was a short and sweet trade and once again, Alba gave us positive pips. ~Big Pippin

Results: +14 +3 -9(spread)= +8 pips

Forex Trade- 2/6/06

4:21 pm EST- No Trades

Like the typical Monday, there were no trades for the Euro today. As you can see from the chart, the price pretty much hovered around its low for the day and didn't give us any signals or breakouts. The dead time allowed me to catch up on some reading and also allowed me to catch up on my favorite soaps (just kidding). Hopefully tomorrow will be a little more exciting. ~Big Pippin

Results: +0

Alba Results 1/30/06 - 2/3/06

After a topsy turvy week we came out with a very small win with 6 pips for the week. I know its such a huge profit. Maybe we can eat at Wendy's this weekend :) Anyways, I'm hoping for a better week next week. Cheers.

Monday: +44
Tuesday: No trades
Wednesday: -81
Thursday: +3
Friday: +40

Total: +6 pips

Forex Trade - 02/03/06

4:25 pm EST- 1 Trade Won

Today was a pretty good movement day. After the NFP and unemployment reports, we saw a nice move from the Euro. We did not trade the news candle but we did get in on a breakout at 8:50. I entered 3 lots short at 2008 with a stop at 2032 and a target at 1990. Our target was hit on the next candle and I closed 2 lots out and moved my stop to breakeven. I trailed my stop and was stopped out at the high of the next candle which was 1995. Overall it was a good day for the Alba system. Have a great weekend everyone. ~Big Pippin

Results: +36 +13 -9(spread)= +40 pips
















8:00 am EST - Analysis

Good Morning! It's the first friday of the month, and you know what that means.... US Non-Farm Payroll report! Yes, the mother of all market moving US economic reports is out again at 8:30 am EST. For those of you who don't know what this report is, it is the monthly report of new jobs created, and it is one the leading indicators of an economy's health. We also have Consumer Sentiment at 9:45 am EST, and Factory Orders at 10:00 am EST. So, for all you Alba traders please be patient. We may have to wait until the end of our trading session to find a low risk trade. Stay focused, good luck and good trading! ~Pipcrawler











EU Session High: 1.2089
EU Session Low: 1.2055

Forex Trade - 02/02/06

5:00 pm EST- 1 HUGE trade won!

I'm kidding. I only got 3 pips off of this one. I saw a breakout at 10:20 and we entered 3 lots long at 2095 with a stop at 2055 and a target at 2116. After we entered, the market pretty much stalled at 2100 and didn't do much the rest of the day. Due to boredom, I ended up closing all 3 lots at around 12:40 pm at 2099. I think I'm going to eat at McDonald's with today's winnings :) Hope you all did well. ~Big Pippin

Results: +12 -9(spread)= +3 pips. Woohoo!















8:00 am EST - Analysis

Good morning! Today we have US economic reports coming out at 8:30 am EST. A couple worth mentioning would be the Nonfarm Productivity report and the Initial Jobless Claims report. Initial Jobless Claims reports the number of unemployment insurance filed in the past week. Nonfarm Productivity measure the efficiency in which goods and services are produced beyond the farming sector. So, watch out for volatility around that time. And for those of you who has not heard, the ECB kept interest rates this morning at 2.25% which is no shocker. What happened to all that buzz by Trichet a few months ago about raising rates?? Oh, well....stay focused, good luck and good trading! ~Pipcrawler











EU Session High: 1.2075
EU Session Low: 1.2043

Forex Trade - 02/01/06

4:45 pm EST- 1 Trade Lost

Unfortunately today was not as beautiful as yesterday. We ended up taking a loss on a breakout trade. At 8:40 am there was an Alba breakout and I entered 3 lots short at 2077 with a stop at 2101 and a target at 2063. At 10am the ISM report came out and I was stopped out on my trade. I know what your thinking. I usually don't trade news but prior to the news I was already close to getting stopped out so I figured I'd just hold onto it to see if the news would change things. Unfortunately that wasn't the case. On the bright side, at least I got a little message from Alba herself. You'll notice it at the bottom of the chart. At least it wasn't a total lost :) Hope we do better tomorrow! ~Big Pippin

Results: -72 -9(spread)= -81 pips
















8:00 am EST - Analysis

Good Morning! I hope everybody got a chance to catch some pips with Alba yesterday. Let's see what we have going on today...It looks like the all of our US economic reports are coming out today at 10:00 am EST. We have Construction Spending, Pending Home Sales, and ISM Manufacturing. ISM Manufacturing may be the biggest economic indicator of the group, with the most potentional of moving the market if there is an off number. It measures the manufacturing sector and a reading above 50 indicates expansion. The consensus is 55.4 vs. 54.2 previous. So, keep an eye out for possible movement around 10:00 am EST. Good luck and good trading! ~Pipcrawler











EU Session High: 1.2159
EU Session Low: 1.2087