Comments on: Forex Signals 9th Mar

By: Diet Pipsi

Diet Pipsi — Wed, 10 Mar 2010 17:52:58 +0000

Well a lot more people post a lot more comments during and at the end of a week where we make 1300 pips than do when we follow that with a week of -500 pips.

Were you here several weeks back when we had a week of -1700? It was not "hidden" from anyone. But it is true that looking at those losses and seeing them tallied up in front of you constantly on every trade can be a detractor. It can easily cause you to make irrational trading decisions out of fear. By the same token, looking at consistent gains tallied up in front of you can cause you to make irrational trading decisions out of exhilaration.

I prefer the "order" of having a running total of all closed trades in real time, so I keep one. As of this writing I have us at +295 on the week in closed trades, +40 closed on the first piece of the current trade and I am at +3 on the remaining two pieces of that trade this moment. If FirePips kept a record like that and posted it every 4 hours with the updates, would that make you any better or worse trader?

Were you the same person who posted that you could not use any system that had as much as -500 pip loss in a week?

By: Marilou Watrs

Marilou Watrs — Wed, 10 Mar 2010 11:39:54 +0000

VRy helpful to read through it

By: FirePips

FirePips — Wed, 10 Mar 2010 02:12:54 +0000

Good to hear from you David…I should go visit that Big Red Rock one day

I already have date in the Subject line….you mean put it again in the text?

By: David aka fairwind

David aka fairwind — Wed, 10 Mar 2010 01:55:50 +0000

Hello FirePips, I have received your piptips ( if I can call them that ) for the last three days and thank you for the service !!! I live in West Australia.

I wonder if you could put a date in the text of your emails ?

Thanks mate, David

By: liaueg

liaueg — Wed, 10 Mar 2010 01:14:24 +0000

Hi Sam, I agree psychology really play a big part in trading. If you dwell too much on the losses, you may begin to doubt your trading strategy and start to tinkle with the trading plan, which will cause you greater loss.
For example, if you keep thinking of last week loss, you might want to protect whatever positive trades this week and prematurely adjust stoploss which may cause it to be stop out earlier, thus preventing you from realising the full potential of the signal

By: FirePips

FirePips — Wed, 10 Mar 2010 00:24:27 +0000

Barbara, Try reading here http://forex.firepips.com/forex-signals/

By: Barbara

Barbara — Wed, 10 Mar 2010 00:17:45 +0000

Hi Firepips,

Could you share you trading plan and what platform and broker you are using?

I've been following you a couple of days and I'm happy with the trade results.

Thanks,
Barbara

By: FirePips

FirePips — Tue, 09 Mar 2010 23:12:19 +0000

Interesting….let me look into it Gerry.

By: FirePips

FirePips — Tue, 09 Mar 2010 23:11:36 +0000

Martin if most trades turn back on you then perhaps you can move your Stop Loss to Break Even after trade has gone positive from some time. I am sure you figured that out already

By: Martin

Martin — Tue, 09 Mar 2010 20:53:00 +0000

Hi Firepips

Just came a cross you on the net today..
My last 12 trades were all losses after most being in profit..
Went short on your CADJPY
I hope i dont destroy your good record

Bax11