is there any way to do that i would like to have my album folder in a external drive

You could try using a directory junction (basically a symlink).

If you have Windows Vista/7, you can use the mklink command. The syntax will be something like:

mklink /j \albums\ :\albums

Of course, you would have to replace the paths with what you need.

You can also do this in XP, but mklink isn't built into it. You'd have to download a program for this. One such program is Junction from Microsoft: http://technet.microsoft.com/en-us/sysinternals/bb896768.aspx