Forex Trade - 05.31.06

4:30 pm EST- 1 Trade Lost

Well unfortunately we took a small loss as the PMI report didn't give the EUR/USD enough juice to give us a good trade. At 11:10 am EST there was an Alba breakout and I entered 3 lots short at 2824 with a stop at 2845 and my target at 2812. My target wasn't hit by 12pm and I held onto the trade until 1pm. The market seemed to die down by then so I closed my trade out at 2828 which was the close of the 12:50 candle. Hopefully we'll see a better day tomorrow. Cheers! ~Big Pippin

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














8:00 am EST - Analysis

Good morning! Our only report of the day is at 10:00 am EST, the Chicago Purchasing Managers Index (PMI). This index is the montly survey of purchasing managers in which the activity (ie. purchasing, employment, output, etc.) is reported to be higher or lower than the previous month. It is seen as an early indicator of future business trends, and it is watched by many traders. So, be cautious around this time for we may see some volatility. Also, the FOMC minutes will be released today at 2:00 pm EST. It's out of our trading session time frame, but it's a very important event that you should watch and see how the market reacts. Good luck and good trading! ~Pipcrawler












EU Session High: 1.2903
EU Session Low: 1.2853

Forex Trade - 05.30.06

2:20 pm EST- No trades

We saw an Alba breakout at 10:00 am EST but we did not enter because it was the Consumer confidence report candle. We realized that it's not normally highly volatile event but because there was such a big drop it caused the market to move. After the news candle passed, I did not see any other suitable entries and ended up staying out of the market for the rest of the day. Today was another good example of why I avoid trading during news events. I hope you all did ok today. Cheers! ~Big Pippin

Results: +0 pips















8:00 am EST - Analysis

Good morning Alba traders! Hope everyone enjoyed nice holiday weekend! We have a short trading week with a lot of economic data coming out. Today at 10:00 am EST, we have the Consumer Confidence report for May coming out with a consensus number of about 100.0 vs. the previous number of 109.6. It's not ranked very high on volatility, but be sure to hold off from trading during that time period in case of unexpected volatility. Good luck and good trading! ~Pipcrawler












EU Session High: 1.2882
EU Session Low: 1.2813

Memorial Day

There is no trading today for me as it is a US holiday. I encourage all of you, especially the American traders, to take a break from trading today as today is a very special holiday. Let us remember those who gave their lives for our country so that we could have the life of freedom that we often times take for granted. I wish you all a happy Memorial Day. Cheers! ~Big Pippin

Alba Results for 5.22.06 - 5.25.06

It was a very small profit gain this week as we only had 1 trade which was a small winner. We did not trade on Friday because it was the day before the Memorial day weekend.

Monday: +12
Tuesday: No trade
Wednesday: No trade
Thursday: No trade
Friday: No trade- Day before Memorial Day

Total: +12 pips

Total for May: +274 pips

Forex Trade- 5.25.06

2:10 pm EST- No trades

Well even with the GDP and Existing Home Sales report, the Euro still showed indecision as the price could neither break the EU high nor the EU low. It will be interesting to see what will happen tomorrow seeing as Monday is a US holiday. I will watch the markets and hopefully a trade will show up. Cheers! ~Big Pippin

Results: +0 pips

Forex Trade- 5.24.06

2:00 pm EST- Breakeven trade

Well it was quite a mover for the Euro today but I didn't see any entries until later in the day. During the EU session the Euro made about a 100 pip move up and then during the US sesssion it dropped right back down another 100 pips. At 10:30 am EST there was an Alba breakout and I entered 3 lots short at 2755 with a stop at 2837 and a target at 2712. The price got as low as 2728 but didn't move far enough to hit my target. Because there was such a large move in both the EU and US session I decided that at 12pm EST it would be a good time to get out of the trade. I ended closing my trade out at breakeven. Hope you all were able to catch some of the big moves today. Cheers! ~Big Pippin

Results: +0 pips

Forex Trade- 5.23.06

1:15 pm EST- No trades

The Euro was pretty quiet today and it stayed within its range. Bernanke did cause some volatility but the movement still showed indecision as the Euro could not break through its high or low. Luckily for us, there were no signals or breakouts which kept us out of this range bound market. Hope you all were able to stay out. Cheers! ~Big Pippin Results: +0 pips

Results: +0 pips

Forex Trade- 5.22.06

5:12 pm EST- 1 Trade Won

Even though it wasn't a big win, we were still able to manage a few pips with the Alba system. I was kind of disappointed we didn't get more but I can't complain about positive pips. There was an Alba breakout at 10:10 am EST and I entered 3 lots long at 2802 with a stop at 2786 and a target at 2811. My target was hit on the next candle and I closed 2 lots out and moved my last lot's stop to breakeven. Unfortunately that is where I got stopped out at on the very next candle. Hope you all did better than me today! Cheers, ~Big Pippin

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

Alba results for 5.15.06 - 5.19.06

Monday: -45
Tuesday: No trade
Wednesday: +92
Thursday: No trade
Friday: Out of town; no trade

Total: +47 pips

Total for May: +262 pips

Forex Trade- 5.18.06

4:00 pm EST- No Trades

Well even with Big Ben speaking today, the EUR/USD didn't move that much we did have a break of the EU high but there were no good Alba breakouts so I did not have a trade. I will also not be trading tomorrow as I have plans so this was the last trading day for me. I will post this week's results sometime tomorrow. Hope you all have a great weekend! ~Big Pippin

Result: +0 pips

Forex Trade - 05/17/06

2:15 pm EST- 1 Trade won

Well it was a very good day for the Alba system today. Core CPI was slightly higher than expected and we actually saw a rise in the EUR/USD. Shortly after the dollar gained strength and we got an Alba breakout at 9:40 am EST. I entered 3 lots short at 2844 with a stop at 2884 and a target at 2821. My target was hit at 10:20 am EST and I closed 2 lots and moved my stop to the high of that candle. I trailed my stop to the high of the candle marked on the chart which is where I was eventually stopped out at 2789. Let's hope we can keep this up for tomorrow. Hope you all did well. Cheers! ~Big Pippin

Results: +46 +55 -9(spread)= +92 pips














8:00 am EST - Analysis

Good morning! At 8:30 am EST, we have the monthly US Consumer Price Index report released. The CPI is the measure of inflation experienced by customers, very important to look at when considering interest rates movements by the Fed. Traders will focus on core CPI (excluding food and energy), and it's consensus number is around 0.6% versus the previous number at 0.4%. Also, any revisions on the previous number can affect the market as well. Also, at 10:30 am EST we have the weekly EIA crude oil inventories. Please be cautious during these time Alba traders. Good luck and good trading! ~Pipcrawler












EU Session High: 1.2917
EU Session Low: 1.2855

Forex Trade 05/16/06

2:35 pm EST- No Trades

Well although the PPI did cause some movement, there were no Alba signals or breakouts which kept us out of the market today. I'm not too worried about it because the market didn't really make any big movements. Like I always say, I'd rather sit out and have no trade then enter a trade and lose :) I'm looking forward to a better rest of the week. Cheers! ~Big Pippin

Results: +0 pips













8:00 am EST - Analysis

Good morning! We have many US reports being released in the early part of the US trading session. At 8:30 am EST, we have Housing Starts and Producer Price Index, with PPI excluding food and energy probably the most closely watched report of today. Then at 9:15 am EST, Industrail Production and Capacity Utilization reports being released. Both also have been potentially volatile in the past. Please be patient during those times Alba traders. Stay focused, Good luck and good trading! ~Pipcrawler












EU Session High: 1.2833
EU Session Low: 1.2771

Forex Trade - 05/15/06

2:10 pm EST- 1 Trade Lost

Well it was a case of the Monday blues for the Alba system today. At 10:40 am EST there was an Alba signal and I entered 3 lots long at 2840 with a stop at 2828 and a target at 2851. Unfortunately the market took us out of our misery quickly and stopped us out on the very next candle. A bad start to the week but as always I try to stay optimistic for the rest of the week :) Cheers! ~Big Pippin

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













8:00 am EST - Analysis

Good morning! We have a pair of potentially volatile US economic reports coming out this morning. First, at 8:30 am EST, we have the Empire Manufacturing Index, which is a sentiment indicator from the manufactoring sector. The consensus number is 17.0 vs. the previous number of 15.8. Next, we have the TIC report at 9:00 am EST. This is the measure of foreign demand for US debt and assets. This report is known to move the market, so we would wait 20 to 30 minutes after the report is released to trade. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2933
EU Session Low: 1.2800

Alba Results for 5.08.06 - 5.12.06

It was a good week for Alba. Although we only had 3 trades, they were all winners. Hopefully we can continue this for the rest of the month!

Monday: +24
Tuesday: +60
Wednesday: No trades
Thursday: +72
Friday: No trades

Total: +156 pips

Total for May: +215 pips

Forex Trade- 5.12.06

4:00 pm EST- No Trades

Well even with the Trade Balance and Consumer Sentiment report we didn't have enough movement in the Euro to warrent a trade. You can see from the chart that the EUR/USD stayed within its range producing no trades for us today. At least we finished the week off positive. Have a great weekend everyone! ~Big Pippin

Results: +0 pips

Forex Trade - 05/11/06

3:00 pm EST- 1 Trade won

It was another great day for the Alba system. At 9:50 am EST there was an Alba signal/breakout and I entered 3 lots long at 2778 with a stop at 2748 and my target at 2797. My target was hit at 10:10 am EST and I closed 2 lots and moved my last lot's stop to breakeven. I trailed my stop all the way up to the low of the candle marked on the chart where I was eventually stopped out at 2821. It's been a great week so far so hopefully tomorrow will bring us some pips to finish the week out strong. Hope you all did well. Cheers! ~Big Pippin

Results: +38 +43 -9(spread)= +72 pips













8:00 am EST - Analysis

Good Morning! We have several US economic reports such as Retail Sales, Business Inventories, and Unemployment claims coming out at 8:30 am EST. We should see movement at around that time, so please wait 20 to 30 min after the release to enter a trade. Then starting at 11:15 am EST, we have Fed speak at the Payments Confrence, held in Chicago. Alright alba traders, the system has done well for us, so let's stick with it! Follow the rules, good luck and good trading! ~Pipcrawler












EU Session High: 1.2757
EU Session Low: 1.2686

Forex Trade- 5.10.06

2:10 pm EST- No Trades

There was very little movement in the EUR/USD today. I'm guessing traders were waiting for the FOMC meeting. Needless to say there were no Alba signals or breakouts today. Cheers! ~Big Pippin

Results: +0 pips

Forex Trade - 05/09/06

3:45 pm EST- 1 Trade Won

For the 2nd day and a row we've seen some pretty nice movement considering the lack of economic reports. The dollar lost some ground again and we saw an Alba breakout at 9:10 am EST. I entered 3 lots long at 2717 with a stop at 2690 and my target at 2730. 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 last lot's stop all the way up to the low of the candle marked on the chart where I was eventually stopped out at 2760. It was another great day for Alba and I'm hoping with tomorrow's big events we'll see even more movement in this pair. Hope you all did well. Cheers! ~Big Pippin

Results: +26 +43 -9(spread)= +60 pips













8:00 am EST - Analysis

Good morning! Looks like we have a slow news day with the only one US economic report coming out. The Wholesale inventories report will be released at 10:00 am EST. It is the monthly change of inventories held and it's not really considered a market moving report. Well, we've a slow down in the sell of in the dollar, and it has been ranging for the past couple of days. unless we see a big surprise today, we probably will not see significant movement or any breakouts until tomorrow when a slew of reports are being released. So, keep an eye out for an Alba signal, because that's what we're likely going to get today. Good luck and good trading! ~Pipcrawler












EU Session High: 1.2705
EU Session Low: 1.2660

Forex Trade- 5.08.06

2:35 pm EST- 1 Small Trade won

Considering it was a Monday with no economic reports out, I was surprised to pull in a small win today. At 9:50 there was an Alba breakout and I entered 3 lots short at 2709 with a stop at 2747 and a target at 2690. The price came close to hitting my target but didn't quite make it. By 2:00 pm, my target was still not hit so I decided to close my trade out at the close of the 2pm candle which was at 2698. On a day like this I was happy Alba was still able to give us some positive pips. Hope you all did well today. Cheers! ~Big Pippin

Results: +33 -9(spread)= +24 pips

Alba Results for 5.01.06 - 5.05.06

Well it was a pretty decent start for Alba in the month of May. Hopefully we can keep it up the rest of the month.

Monday: +80
Tuesday: No trades
Wednesday: -63
Thursday: +42
Friday: No trades

Total: +59 pips


Total for May: +59 pips

Forex Trade- 5.05.06

2:00 pm EST- No Trades

Although there was some good movement from the NFP report, I couldn't find a suitable entry. Many of you know that I don't like trading news candles and that is the reason why I didn't enter at the 8:30 candle. After the big move, the price pretty much stalled the rest of the day and I couldn't find a viable signal or breakout entry. As a result, there were no trades today. The good news is that we were able to finish the week positive. Hope you all have a great weekend. Cheers! ~Big Pippin

Result: +0 pips

Forex Trade- 5.04.06

2:45 pm EST- 1 Trade Won

Well it was a good day for Alba as we had a pretty easy win. At 9:40 am EST we had an Alba signal/breakout which is usually a very good indication of a winning trade. I entered at the close of the 9:40 candle at 2643 with a stop at 2623 and a target at 2653. My target was hit at 10:00 am EST and I closed 2 lots and moved my last lot's stop to breakeven. I trailed my stop to the low of the candle marked on the chart where I was eventually stopped out at 2674. It was a quick and painless trade and hopefully tomorrow's NFP report will give us more juice to have another winning trade. Cheers! ~Big Pippin

Results: +20 +31 -9(spread)= +42 pips

Forex Trade - 05/03/06

2:15 pm EST- 1 Trade lost

Unfortunately today was not a good day for Miss Alba. At 10:00 am EST there was an Alba breakout but since it was a news candle (Factory orders, ISM non-manufacturing) I did not enter. Those of you who follow my posts know that I don't like trading news candles. I waited a while and there was another Alba breakout at 10:30 so I entered short at 2597 with a stop at 2615 and a target at 2587. I was eventually stopped out on all 3 lots at 11:00 am EST. Hopefully tomorrow and Friday will be better so we can finish the week strong and start the month off to a good note. Cheers! ~Big Pippin

Results: -54 -9(spread)= -63 pips













8:00 am EST - Analysis

Good morning! We have a few US economic reports out today to watch out for. At 10:00 am EST, we have the monthly Factory Orders report due with a consensus number of about 4.0% vs. the previous of 0.2%. We also will be seeing the ISM non-manufacturing index at 10:00 am EST, and the weekly EIA crude oil inventories at 10:30 am EST. We also have Big Ben Bernanke speaking at 12:00 pm EST. His speech will be out of our trading time frame, but it would be a good idea to pay attention to what he says. Be cautious at these times Alba traders. Good luck and good trading! ~Pipcrawler

EU Session High: 1.2669
EU Session Low: 1.2617

Forex Trade - 05/02/06

2:45 pm EST- No Trades

Well with the big move that the Euro made during the EU session along with the absence of economic reports today it was no surprise that the market was quiet during our session. There's really not much to say because the chart speaks for itself. There was very little movement and the only money I made today was through an online poker tournament I won due to sheer boredom :) Hopefully the rest of the week will be more exciting. Cheers! ~Big Pippin

Results: +0 pips














8:00 am EST - Analysis

Good Morning! During the European session, we saw no love for he US dollar as traders came back from the holiday as Euro bulls. The range for the trading session last night was 109 pips. So we may see difficulty seeing an Alba breakout, especially without any US economic reports being released today. So, let's keep and eye out for those Alba signals. The system did well for us yesterday, let's trust it will do well for us again. Good luck and good trading! ~Pipcrawler












EU Session High: 1.2668
EU Session Low: 1.2559

Forex Trade- 5.01.06

4:00 pm EST- 2 Trades won

It was quite an interesting Monday as we saw more movement than normal on these days. With the economic reports providing the EUR/USD some juice, we had 2 great trades. The first trade was an Alba breakout which happened at 8:50 am EST. I entered 3 lots long at 2668 with a stop at 2639 and a target at 2686. My target was hit at 9:10 and I closed 2 lots and moved my last lot's stop to the low of that candle. I was stopped out the next candle at 2673. The 2nd trade came after the release of the better than expected numbers for Factory Orders and the ISM report. At 10:40 there was a great Alba signal and I entered 3 lots short at 2623 with a stop at 2669 and a target at 2600. My target was hit at 11:40 and I closed 2 lots and moved my last lot's stop to the high of that candle. I was stopped out at noon at 2612. As far as the long term trend goes, I'm still unsure where this pair will go in the next few weeks but the intra-day movements are still giving us some decent moves. Hopefully the rest of the week will be just as good as today, but of course that usually isn't the case :) Cheers! ~Big Pippin

Results:
1st trade: +36 +5 -9(spread)= +32 pips
2nd trade: +46 +11 -9(spread)= +48 pips
Total: +80 pips