+665 Pips | Fx Signals 10th & 11th Mar

Currency Trading SignalsWhat an excellent day we had, a total of +665 Pips in last 24 hours; with one trade still on.  GBPJPY moved nicely in our favor reaching all three profit targets, EURJPY made it to second profit target and EURUSD & CADJPY reached first profit target each.

There is  lot more potential left in the week and I’ll be actively looking for more trades.

Update at 5 PM EST / 10 PM GMT / 0000 Hour Candle:

Order ID: 5 | Update | $EURJPY Sell 122.75 | Second Profit Target Reached at +100 Earlier | Rest Closed out at +35

Order ID: 6 | Update| $CADJPY Sell 87.60 | First Profit Target Reached at +40 Earlier | Currently at Break Even

Order ID: 7 | Update| $EURUSD Sell 1.3595 | First Profit Target Reached at +40 Earlier | Rest Closed out at -10

Update at 9 PM EST / 2 AM GMT / 0400 Hour Candle:

Order ID: 6 | Update | $CADJPY Sell 87.60 | First Profit Target Reached at +40 Earlier | Currently at Break Even

Order ID: 8 | Pending | $GBPJPY Sell 134.60 | Stop Loss: 70 Pips | Take Profit: 70-140-210 Pips

Update at 1 AM EST / 6 AM GMT / 0800 Hour Candle:

Order ID: 6 | Update| $CADJPY Sell 87.60 | First Profit Target Reached at +40 Earlier | Move Stop Loss to 87.75

Order ID: 8 | Update | $GBPJPY Sell 134.60 | Move Stop Loss to 135.00

Update at 5 AM EST / 10 AM GMT / 1200 Hour Candle:

Order ID: 6 | Update| $CADJPY Sell 87.60 | First Profit Target Reached at +40 Earlier | Rest Closed out at -15

Order ID: 8 | Update | $GBPJPY Sell 134.60 | First Profit Target Reached at +70 | Rest Closed out at -40

Order ID: 9 | Order Cancels Order | $CADJPY Sell 87.35 or Buy 88.15 | Stop Loss: 80 Pips | Take Profit: 40-80-120 Pips

Update at 9 AM EST / 2 PM GMT / 1600 Hour Candle:

Order ID: 9 | Update | $CADJPY Buy 88.15 | Currently at -10

Update at 1 PM EST / 6PM GMT / 2000 Hour Candle:

Order ID: 9 | Update | $CADJPY Buy 88.15 | First Profit Target Reached at +40 Pips | Move Stop Loss to 87.75

Order ID: 10 | Order Cancels Order | $EURUSD Sell 1.3595 or Buy 1.3690 | Stop Loss: 95 Pips | Take Profit: 40-80-120 Pips

Order ID: 11 | Order Cancels Order | $EURJPY Sell 122.95 or Buy 124.10 | Stop Loss: 115 Pips | Take Profit: 50-100-150 Pips

11th Mar 2010

Update at 5 PM EST / 10 PM GMT / 0000 Hour Candle:

Order ID: 9 | Update | $CADJPY Buy 88.15 | First Profit Target Reached at +40 Pips Earlier | Currently at +10

Order ID: 10 | Update | $EURUSD Sell 1.3595 or Buy 1.3690 | Waiting to get filled

Order ID: 11 | Update | $EURJPY Sell 122.95 or Buy 124.10 |Waiting to get filled

Update at 9 PM EST / 2 AM GMT / 0400 Hour Candle:

Order ID: 9 | Update | $CADJPY Buy 88.15 | First Profit Target Reached at +40 Pips Earlier | Move Stop Loss to 88.05

Order ID: 10 | Update | $EURUSD Sell 1.3595 or Buy 1.3690 | Waiting to get filled

Order ID: 11 | Update | $EURJPY Sell 122.95 or Buy 124.10 |Waiting to get filled

Order ID: 12 | Pending | $GBPJPY Sell 135.10 | Stop Loss: 65 Pips | Take Profit: 70-140-210 Pips

Update at 1 AM EST / 6 AM GMT / 0800 Hour Candle:

Order ID: 9 | Update | $CADJPY Buy 88.15 | First Profit Target Reached at +40 Pips Earlier | Rest Closed out at -10

Order ID: 10 | Update | $EURUSD Sell 1.3595 or Buy 1.3690 | Waiting to get filled

Order ID: 11 | Update | $EURJPY Sell 122.95 or Buy 124.10 |Waiting to get filled

Order ID: 12 | Update | $GBPJPY Sell 135.10 | Currently at -20

Order ID: 13 | Order Cancels Order | $CADJPY Sell 87.80 or Buy 88.25 | Stop Loss: 45 Pips | Take Profit: 40-80-120 Pips

Update at 5 AM EST / 10 AM GMT / 1200 Hour Candle:

Order ID: 10 | Update | $EURUSD Sell 1.3595 or Buy 1.3690 | Waiting to get filled

Order ID: 11 | Update | $EURJPY Sell 122.95 or Buy 124.10 | Waiting to get filled

Order ID: 12 | Update | $GBPJPY Sell 135.10 | Closed out at -65

Order ID: 13 | Update | $CADJPY Buy 88.25 | Currently at -5

Update at 9 AM EST / 2 PM GMT / 1600 Hour Candle:

Order ID: 10 | Update | $EURUSD Sell 1.3595 or Buy 1.3690 | Waiting to get filled

Order ID: 11 | Update | $EURJPY Sell 122.95 or Buy 124.10 | Waiting to get filled

Order ID: 13 | Update | $CADJPY Buy 88.25 | Closed out at -45

Order ID: 14 | Order Cancels Order | $CADJPY Sell 87.65 or Buy 88.40 | Stop Loss: 75 Pips | Take Profit: 40-80-120 Pips

Update at 1 PM EST / 6PM GMT / 2000 Hour Candle:

Order ID: 10 | Update | $EURUSD Sell 1.3595 or Buy 1.3690 | Waiting to get filled

Order ID: 11 | Update | $EURJPY Sell 122.95 or Buy 124.10 | Waiting to get filled

Order ID: 14 | Update | $CADJPY Sell 87.65 | Currently at -50

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100 Responses to “+665 Pips | Fx Signals 10th & 11th Mar”

  1. Heavenforex 10 March 2010 at 2:08 am #

    Order ID: 7 | Order Cancels Order | $GBPJPY Sell 134.60

    only 1 order?

  2. burn0050 10 March 2010 at 2:09 am #

    I don't understand:
    Order ID: 7 | Order Cancels Order | $GBPJPY Sell 134.60 | Stop Loss: 70 Pips | Take Profit: 70-140-210 Pips

    Where is the buy portion of this OCO?

    Thanks!

  3. Duke 10 March 2010 at 2:09 am #

    Order ID: 7 [OCO] buy order missing?

    • Duke 10 March 2010 at 2:10 am #

      Oh corrected already, disregard

  4. FirePips 10 March 2010 at 2:14 am #

    Sorry about the confusion…I copied old order and forgot to change OCO to Pending.

    • liaueg 10 March 2010 at 2:20 am #

      No Worries. But I thought it's Order ID 8 :)

      • FirePips 10 March 2010 at 2:26 am #

        I've fixed it now…Thanks for noticing :)

  5. David Funchess 10 March 2010 at 2:43 am #

    Why is gbp/jpy sell 134.60 and not 134.660? This seem like a huge difference?

    • FirePips 10 March 2010 at 2:55 am #

      It is only 6 Pips difference. The last digit is the fractional Pip.

  6. rentz07 10 March 2010 at 3:10 am #

    order was pending instead of OCO

  7. jan 10 March 2010 at 8:09 am #

    hi firepips. you say take profit at 40-80-100 pips. tis means that i buy 3 times for example 5000 gbpjpy . is this correct?

  8. stephan 10 March 2010 at 9:39 pm #

    Order ID: 8 | Update | $GBPJPY Sell 134.60 | First Profit Target Reached at +70 | Rest Closed out at -40
    at mb trading on real account the bid price was on low 133,93, normal is not possible to reached first profit target.

    • Indy 10 March 2010 at 10:58 am #

      Same here. My low was at 133.92, and even with a 2-3 pip adjustment, there was no fill. However, on FXDD, the low was 133.88 so quite a big difference there. I think I may have to give even more room for a pair like GJ. It's also worth noting that there are times when I'm filled and FirePips is not. Overall, I am slightly net positive on execution discrepancies. I suspect that in the end, it will not make a huge difference as long as we keep adjusting and fine tuning.

      • FirePips 10 March 2010 at 11:05 am #

        My low on TradeStation was 133.872…good enough to close out at 133.90.

        • stephan 10 March 2010 at 11:31 am #

          on wich broker is based your price 133.872 ? you said your life accounts is dukascopy and mb trading.

          • FirePips 10 March 2010 at 12:12 pm #

            TradeStation.

            I trade with several brokers at a time and keep funds in different currencies. This way I can use long term currency movements to my advantage, it is almost like position trading.

      • bootyk 10 March 2010 at 11:40 am #

        What Broker You would recommend? because my results on FXM Trade are totally different to FirePips Performance Statements! I started Trading on FXM Trade with a Micro Account, maybe I should change!
        Thanx for any suggestions

        • stephan 10 March 2010 at 12:17 pm #

          FXM the same as FXD24 are bucketshops, never ever i whant to have a real account at this bad market makers because he have manipulated datafeed and many other problems, it is strong ennough for me to fight with the market, i dont want a broker that fight against me!!!

          • bootyk 10 March 2010 at 12:26 pm #

            So, any suggestiions again? Thank You! ;)

          • FirePips 10 March 2010 at 12:29 pm #

            Try any ECN brokers….It think out of all ECN brokers MB Trading has the lowest account opening balance.

          • bootyk 10 March 2010 at 12:59 pm #

            I`m at google for a while now, searching for an ECN Broker MB Trading, where i can open mini account, not so easy ;)

          • FirePips 10 March 2010 at 1:02 pm #

            http://www.mbtrading.com/forex.aspx

            All trades are entered in mini lots…just open up a demo account and you will see.

          • bootyk 10 March 2010 at 1:16 pm #

            I already opened a Demo Account on MB Trading, but i can`t figure out on their website, what's the minimum deposit… I will start very small after Demoing on a new Broker, beause of the difference between live and demo … Thanx again!

          • bootyk 10 March 2010 at 2:57 pm #

            Sorry for disturbing You again, I'm testing the demo account of MB Trading right now. I can't set an OCO Order, get an error message "To many orders" Is this, because of hedging is not allowed?

          • Diet Pipsi 10 March 2010 at 6:51 pm #

            Yes, exactly. MBTrading does not allow hedging, and even though you do not want to fill both orders, it will not even allow you to PLACE both orders. The best workaround is to place an alarm on each direction, about 10 pips inside of the trigger price. That way when the alarm goes off, you can come and put in the order for that direction. Once one direction triggers, then delete the other alarm.

            However, this is not really a MBTrading limitation, it is a Metatrader limitation. I know of no Metatrader broker that offers OCO ordering right on their platform.

            You've probably found out by now, MBT minimum deposit is $500.

            And no matter how big your account is, with MBT all accounts are traded in minilots. With $500, for Firepips method, IMO you should start by trading 3 microlots, which you would enter on their platform as .3 That way, you can close .1 at each target, and .1 is the smallest they allow. And that way .3 is the max you lose on ones where we hit a stoploss.

            Hopefully helpful -

          • bootyk 10 March 2010 at 7:26 pm #

            Ah you already answered! Thanks very much, I will do it in this way, setting alarms, turning off my monitors …

          • bootyk 10 March 2010 at 7:42 pm #

            already answered, thanx a LOT! ;)

          • Diet Pipsi 10 March 2010 at 6:56 pm #

            http://www.mbtrading.com/fx

            All accounts are mini accounts with MBTrading, no matter how much money you have. One "standard" lot is $100,000 of currency. On MBT's platforms, when you enter "1 lot" what gets traded is $10,000 currency, which a minilot of standard trading sizes. And the they allow trading as low as one microlot, which you would enter as .1 lot on their platform. Once you get past that confusion, it's easy.

          • bootyk 10 March 2010 at 7:24 pm #

            Thanks for your help, that website is nice, but a little bit confusing, usibility is terrible, and i am no internet-noob… i´m already on demo mode, but i can't set an OCO-Order. Error message: "too many trades" Maybe it is not allowed on MB Trading? Do you know about?

    • bootyk 10 March 2010 at 11:13 am #

      same at my account, first target not reached!

    • Adrian 10 March 2010 at 6:05 pm #

      I had a low of 133.89 just hit TP

  9. stephens 10 March 2010 at 10:44 am #

    hi there, gud job yu doing bro. what time of the day do you place daily comments here.
    regards

  10. bootyk 10 March 2010 at 11:57 am #

    Hi Firepips,

    First, Thank You for your signals, I started Trading a while ago with different but most positive results, I have another Job, which i love and I don´t wanna change it for watching charts, and I lost to much time in my Trading sessions, that´s why I started following You… Again, Thanks very much!

    One Question, Is there a way, to trade with just 1 Lot, on 1 Trade? Because of Money Managment… I´m very happy with your Signals, but I will save my account. especially when I see the difference of results. Can You describe, why 3 Orders? Because, If you move to the stop loss after the first target, You earned the Pips of the first Target, but You lose the 2nd and 3rd Order of this trade. With just 1 Trade You can`t reach this big profit, but in the other way You will lose only a small part…

    • FirePips 10 March 2010 at 12:09 pm #

      The reason why we use three lots is to catch the moves that last few hundred pips. By using only one lot we may not be able to catch such moves. Plus that's the way I tested it and it seems to work better.

      If you are interested in trading with one lot then you can try to trail the Stop Loss. I've not tested this method so I can't really predict the outcome.

      • bootyk 10 March 2010 at 12:23 pm #

        Thank You for Your quick answer, I`d like to trade in this kind, but I`m a little bit limited with my small account…

        • Diet Pipsi 10 March 2010 at 6:34 pm #

          Hey booty –

          Someone several weeks ago noted that in that week trading only one lot and closing it all at the first target would have been more profitable in that week. FirePips said he would begin to watch that and see if that seemed to be trend. But short of going back over a year of weeks and analyzing it, there's no way to know other than keep track of it for a long time.

          I personally would only trail the stop at about half of the first target at most. Otherwise too many will stop out for small losses that could have reached the full target. But in fact, I think I would just put the stop and the target and let it go.

          However, your account size does not need to limit your ability to trade the method, unless you are below about $500 or so. When FirePips says trade three "lots" you just trade 3 lot sizes that are small enough that a stop out of that is not too large a risk.

          It WILL be a limitation if your broker account is not correct for your account size. For example, if your broker's minimum lot size is a full lot and they will not allow a trade of anything less than a full lot or a minilot, and let's say you have $1000, then you have the wrong account. Ask your broker to change you to a mini account, and be sure they allow you to trade in microlot sizes. That way, you can trade whatever lot size you need for your account balance, according to the rules of risk.

          Almost all brokers will allow you to close 1/3 of an open position, as long as that amount is at least bigger than their minimum lot size. So if you can open a position of size small enough to meet risk rules but is still at least three times your broker's minimum trade size, you can close 1/3 of it at the first target.

          This will allow you to trade FirePips's method exactly as he does, with lot sizing correct for your account.

          IMO if you have less than about $500 this won't work, because 3 microlots in this method should require about $500 minimum balance, again IMO. But anything over about $500 in a mini account that allows .1 minilot trading, is acceptable risk for this method. AGAIN, that is only MY opinion, it is not gospel . . . :)

          Hopefully helpful!

          • bootyk 10 March 2010 at 7:31 pm #

            Thanx again!

          • FirePips 10 March 2010 at 11:05 pm #

            It is good to have you back DietPipsi…we missed you around here :)

          • Diet Pipsi 11 March 2010 at 6:03 am #

            Thank you, it is nice to be missed. It hasn't seemed to me that I haven't been here, because I'm on Twitter at the right time every bar. But between being sick with cold and flu, and my partner and I focusing on another EA that we've been messing with for months now, I guess I have not contributed much . .

            Sorry!

            Glad to be missed, and thank you for the welcome here – -

  11. Anthony 10 March 2010 at 11:03 pm #

    what do u mean when u say rest closed out at -40

  12. alberto 10 March 2010 at 1:16 pm #

    Hi firepips:
    (sorry for my bad english)
    I´ve read the faq section, but i don´t understand the fifth part of the signal.
    What does it means "take profit at 40-80-120"?
    For example: buy cad/jpy 88.15…
    Must i buy three times at 88.15 and put the different take profits, with the same stop loss?

    buy cad/jpy 88.15 take profit 88.55 stop loss 87.45
    buy cad/jpy 88.15 take profit 88.95 stop loss 87.45
    buy cad/jpy 88.15 take profit 89.35 stop loss 87.45
    thanks for your time

    • FirePips 10 March 2010 at 1:30 pm #

      That's right. We take profits in increments.

  13. Adam 11 March 2010 at 10:21 am #

    EURUSD is just bouncing around. I haven't made a good trade this whole week. This Greece problem is blocking good trades. Will have to see what will be solved.

    • Diet Pipsi 11 March 2010 at 10:36 am #

      How is the Greece problem blocking good trades? Sorry to hear you haven't had any good ones.

  14. BeginnerFromEurope 10 March 2010 at 11:46 pm #

    Hi firepips, thanks for the signals. I am a beginner and I have so far no success with your Sell XXX or Buy XXX signals with my demo account. why don't you just give only one choice? Another question: do you have signals for gold? thanks in advance.

    • FirePips 11 March 2010 at 3:27 am #

      You are referring OCO orders, these orders help us catch moves that can go in either direction. It is an important part of my trading and sorry can't change it.

      Gold is too volatile to be traded this way. I think it is better to trade Gold long term.

  15. Ed. 11 March 2010 at 12:12 am #

    FP Hi – continuing to track you signals..and congrats on the day…wish Id been half as successful …Lol
    Three questions.
    1. given the controversy about the relative profitability of 3 stage fading v single TP strategies.. if you have neither the time nor resources to research and answer this question then why not disclose the full data from the last 6 months that will allow your "students" do the sums for you???
    2. Do you think it possible to incorporate an IssueDate+Time for all signal ID listings?
    I know its another 1-2 fields in an already crowded mail line ..but I think would help those joining the week late.. with a potential 8-20 (typically) updates to grind through .?

    3. Alternatively could you include a "DATE" field in the successive signal updates you issue… certaily reduce confusion for me LoL??
    Love your work .. keep it up.

    • FirePips 11 March 2010 at 3:24 am #

      1. It is not a controversy, 3 lot method works fine. Any other method could only optimize it further but it doesn't mean we are currently doing it wrong.

      2. Do you mean to add 5PM EST, instead of 0000?? I can do that.

      3. Do you mean on Twitter on FB? Emails already have date in the Subject line.

  16. FirePips 11 March 2010 at 3:19 am #

    Just out of curiosity…what are typical "bullet-proofing" additions?

  17. Diet Pipsi 11 March 2010 at 5:52 am #

    OK, I keep a chart of all trades, and update it as we go. It is a nice chart, but it is way too big to try to squeeze into a blog post. But I have been diddling with a way to format it so that it will show the week's progress at a glance, updated for each bar.

    In the next post I will post what I have it looking like for the 0400 bar. Then in about 20 minutes or so, I'll post it again with what it looks like for the 0800 bar.

    If this is useful to anyone, and if Firepips does not think it is a problem to see the running totals posted in the blog for each bar, I will begin posting them just a few minutes after I've done all the appropriate orders and things in my own account.

    No promises to have every update promptly, and I may miss a few particularly during my sleep hours. Like for example the 1200 and 1600 bars are in the time I normally sleep. I get up and check at the appropriate time, but you will understand if I go back to sleep after taking my trades, and then post those updates after I wake up!

    So. Feedback please . . .

    • FirePips 11 March 2010 at 6:24 am #

      I don't mind running total….but isn't it taking a little too much space??…perhaps a summary of summary post might be better :)

      • Diet Pipsi 11 March 2010 at 6:33 am #

        Yea, and I don't like how the columns (or lack thereof) don't line up, when it eliminates all the empty space in the extra lines. Kinda defeats the purpose of the space anyhow. . . .

        Thank you for your OK, and I'll try it in a tighter, more abbreviated format.

      • favoured111 11 March 2010 at 11:38 am #

        Auto trading These Signals will be life changing to us who are new and have lost a whole lot on our Own. I know other people are interested in this and please could you kindly consider it.

        Please Please Please

    • Diet Pipsi 11 March 2010 at 6:10 am #

      OK, I just added the order for the CADJPY OCO to my platform, and in a few minutes I'll post my updated week-to-date totals.

  18. Diet Pipsi 11 March 2010 at 5:53 am #

    This week so far:

    +420 Order ID: 1 – GBPJPY . . . 1 unit at + 70
    1 unit at +140
    1 unit at +210
    Total = +420

    -105 Order ID: 2 – CADJPY . . . 3 unit at -35 = -105

    -120 Order ID: 3 – EURJPY . . . 3 unit at -40 = -120

    -105 Order ID: 4 – CHFJPY . . . 3 unit at -35 = -105

    +185 Order ID: 5 – EURJPY . . . 1 unit at +50
    1 unit at +100
    1 unit at +35
    Total = +185

    + 10 Order ID: 6 – CADJPY . . . 1 unit at +40
    2 units at -15, = -30
    Total = +10

    + 20 Order ID: 7 – EURUSD . . . 1 unit at +40
    2 units at -10, = -20
    Total = +20

    - 10 Order ID: 8 – GBPJPY . . . 1 unit at +70
    2 units at -40, = -80
    Total = -10

    Order ID: 9 – CADJPY . . . First Profit Target Reached at +40

    Order ID: 10 – EURUSD . . . Waiting for Fill

    Order ID: 11 – EURJPY . . . Waiting for Fill

    Order ID: 12 – GBPJPY . . . New Order

    +295 TOTAL CLOSED ON THE WEEK

  19. vince 11 March 2010 at 5:57 am #

    Hi FP,

    is it ok to mention your site on other chat forums?

    I think it is great what you are doing, just wanted to share with other people.
    i know you don't trade long term, but is it stupid to think GY could go well under 118 in the next 6 months? Another trader called this idea nonsense.
    thanks,
    vince (the New Zealand chap)

    • FirePips 11 March 2010 at 6:10 am #

      By all means… :)

      GY in long term..I've no clue..if anything it would be pure guesswork…I've not mastered position trading yet :)

      By the way, love Nz, specially the South Island…incredible !

      • vince 11 March 2010 at 9:18 am #

        ok thanks FP – i'l put the word out.
        I haven't been to the South Island yet (been here for 3years – i'm from the UK).
        You obviously enjoyed it ! we live in Auckland.
        thanks again for the signals, this bloody 135.10 though !
        cheers,
        vince

    • liaueg 11 March 2010 at 8:00 am #

      Hi,
      I am not sure whether it will do south all the way to 118 but in my opinion, it is possible. Looking at the Weekly chart (starting from Jul 07), it seems to be making a 5-wave downtrend, thus it is possible that it will go under 118 six mths time
      However, that's just my assessment as I am be wrong with the wave count.
      Also, if you look at the weekly chart and all the pivot high, You can draw a straight line through them. That may be a potential support level and if it is not breach, there's possibility of GY going down south.

      • liaueg 11 March 2010 at 8:21 am #

        Oops, I mean resistance level and not support level :)

      • vince 11 March 2010 at 9:16 am #

        hi Liaueg,

        thanks for your reply, yes this is exactly what i mean – the programe i have (Profit Source)
        is stating we completed the 4th wave at 163 and it's predicting the 5th wave somewhere under 118.
        When i look at the weekly chart – it looks to me that the 4th wave could be from 210 – just an extended one, and the 5th wave is the 118 ?
        GU on a monthly looks better for the 5th wave under 148 as well – only a thought..
        cheers,
        vince

        • liaueg 11 March 2010 at 10:03 am #

          Hi,
          If you ask me, count the wave is very subjective. Inside a 5 waves, there can also be a lot of subwaves that are also make either a 5-waves or a 3-wave corrections.

          Anyway, I am looking at the 210 range as a Wave 2, 118 as W3 and 163 as Wave 4. Thus Potential W5 should go lower than 118.

          However, I could be wrong as what you pointed out that 210 might be W2 and 118 as W5. If that's the case where W5 is at 118, then we are going to see GY shooting upwards past 190 :)

  20. Diet Pipsi 11 March 2010 at 6:00 am #

    I've been working on it some with an Alpari UK demo account, and have not succeeded in getting it to work. My partner and I are focused this moment on another EA for a completely unrelated strategy, and I apologize for having been scarce for a week or so :)

    So, sorry nothing to report in the development field.

    I must confess, I have no clue what you mean by "commercial 'bullet-proofing' code additions" and so I guess I'd have to say no to that! But if you enlighten me, I might could answer yes . . . :)

  21. Diet Pipsi 11 March 2010 at 6:16 am #

    This week so far (as of 0800 bar, Thursday 3-11-10):

    +420 Order ID: 1 – GBPJPY . . . 1 unit at + 70
    1 unit at +140
    1 unit at +210
    Total = +420

    -105 Order ID: 2 – CADJPY . . . 3 unit at -35 = -105

    -120 Order ID: 3 – EURJPY . . . 3 unit at -40 = -120

    -105 Order ID: 4 – CHFJPY . . . 3 unit at -35 = -105

    +185 Order ID: 5 – EURJPY . . . 1 unit at +50
    1 unit at +100
    1 unit at +35
    Total = +185

    + 10 Order ID: 6 – CADJPY . . . 1 unit at +40
    2 units at -15, = -30
    Total = +10

    + 20 Order ID: 7 – EURUSD . . . 1 unit at +40
    2 units at -10, = -20
    Total = +20

    - 10 Order ID: 8 – GBPJPY . . . 1 unit at +70
    2 units at -40, = -80
    Total = -10

    + 20 Order ID: 9 – CADJPY . . . 1 unit at +40
    2 units at -10, = -20
    Total = +20

    Order ID: 10 – EURUSD . . . Waiting for Fill

    Order ID: 11 – EURJPY . . . Waiting for Fill

    Order ID: 12 – GBPJPY . . . Currently at -10

    Order ID: 13 – CADJPY . . . New Order

    +315 TOTAL CLOSED ON THE WEEK

  22. Diet Pipsi 11 March 2010 at 6:46 am #

    Maybe this format will be easier to read, and it does take up less space –

    This week so far (as of 0800 bar, Thursday 3-11-10):

    +420 Order ID: 1 – GBPJPY . . . 1 unit at +70, 1 unit at +140, 1 unit at +210, = +420
    -105 Order ID: 2 – CADJPY . . . 3 unit at -35 = -105
    -120 Order ID: 3 – EURJPY . . . 3 unit at -40 = -120
    -105 Order ID: 4 – CHFJPY . . . 3 unit at -35 = -105
    +185 Order ID: 5 – EURJPY . . . 1 unit at +50, 1 unit at +100, 1 unit at +35, = +185
    +10 Order ID: 6 – CADJPY . . . 1 unit at +40, 2 units at -15 (for -30), = +10
    +20 Order ID: 7 – EURUSD . . . 1 unit at +40, 2 units at -10 (for -20), = +20
    -10 Order ID: 8 – GBPJPY . . . 1 unit at +70, 2 units at -40 (for -80), = -10
    +20 Order ID: 9 – CADJPY . . . 1 unit at +40, 2 units at -10 (for -20), = +20
    Order ID: 10 – EURUSD . . . Waiting for Fill
    Order ID: 11 – EURJPY . . . Waiting for Fill
    Order ID: 12 – GBPJPY . . . Currently at -10
    Order ID: 13 – CADJPY . . . New Order

    +315 TOTAL CLOSED ON THE WEEK

  23. Diet Pipsi 11 March 2010 at 6:47 am #

    OK, thanks for deleting the ugly one! How's this?

    • FirePips 11 March 2010 at 5:54 pm #

      Yeah…it looks much better.

      • Diet Pipsi 11 March 2010 at 7:04 am #

        OK, cool. Thanks.

        And sorry for the extra work I put you to in the last 10 minutes cleaning my mess . . . :)

        I think the hour of the bar is a good thing, same reason I once asked you to include the hour of the bar in the Twitter updates. But I think I will take out the date, simply because some of the world writes month first then day, but the rest of the world is accustomed to writing it day first then the month. And my purpose is to help, not to confuse.

        Besides, anyone following the blog may not not know which hour bar I meant without the time, but everyone must know what date we're on when going into each day's post.

        Maybe I'll try spelling the month to help alleviate confusion.

        It's amazing how much time we can have on our hands when we are only trading 4-hour bars – -

        You know FP, I've thanked you privately, but I can't recall that I have ever thanked you publicly for all you do. I'm sure you have your reasons, and are fulfilled for doing it in your own way. But it is very helpful, and I want to thank you here now for all you do.

        • FirePips 11 March 2010 at 8:10 am #

          It wasn't as much as trouble as you went through of putting it up all together :)

  24. Anthonhy 11 March 2010 at 9:01 pm #

    Fire pips how come diet pipsi ‘s performance did not get up to +665 but rather +315

    • Diet Pipsi 11 March 2010 at 10:28 am #

      Because FirePips was talking about the gain of only that day. He said:

      "What an excellent day we had, a total of +665 Pips in last 24 hours; with one trade still on."

      My count is cumulative from the week's beginning, and we'd had 3 full stop-losses already in the week in the previous 24hr period.

      But on the day Fire reported, we had two winners in a 12-hour space that went for the full monty, each hitting the third target. That was +420 and +185. We had also closed out the EURUSD for a +20, and had CADJPY still open with +40 in the bank on the first target and at break even on the rest. +420 +185 +20 +40 = +665.

      Now of course one might ask why FP didn't head-up the blog for the 8th with a headline that said "Wow! We lost -330 pips yesterday." But certainly no one would get any benefit from that!

      My count does match FirePips count for the day for the time it was posted.

  25. Diet Pipsi 11 March 2010 at 10:10 am #

    This week so far (as of 1200 bar):

    +420…Order ID: 1 – GBPJPY . . . 1 unit at +70, 1 unit at +140, 1 unit at +210, = +420
    -105….Order ID: 2 – CADJPY . . . 3 units at -35 = -105
    -120….Order ID: 3 – EURJPY . . . 3 units at -40 = -120
    -105….Order ID: 4 – CHFJPY . . . 3 units at -35 = -105
    +185…Order ID: 5 – EURJPY . . . 1 unit at +50, 1 unit at +100, 1 unit at +35, = +185
    +10…..Order ID: 6 – CADJPY . . . 1 unit at +40, 2 units at -15 (for -30), = +10
    +20…..Order ID: 7 – EURUSD . . . 1 unit at +40, 2 units at -10 (for -20), = +20
    -10……Order ID: 8 – GBPJPY . . . 1 unit at +70, 2 units at -40 (for -80), = -10
    +20…..Order ID: 9 – CADJPY . . . 1 unit at +40, 2 units at -10 (for -20), = +20
    ……….Order ID: 10 – EURUSD . . . Waiting for Fill
    ……….Order ID: 11 – EURJPY . . . Waiting for Fill
    -195….Order ID: 12 – GBPJPY . . . 3 units at -65 = -195
    ……….Order ID: 13 – CADJPY . . . Currently at -5

    +120 TOTAL CLOSED ON THE WEEK

  26. john 11 March 2010 at 9:17 pm #

    Pls I could see that Diet pips performance is reading +315 while at the top of this page we could see +665? why is this so?

    • Dexnini 11 March 2010 at 10:24 am #

      +665 was for the first day of the week

      • Diet Pipsi 11 March 2010 at 10:34 am #

        Or actually, it was for the second day. But you are correct, it was only for that day's gains, and by my count, the number was correct.

        John, see my response to Anthony for the complete breakdown if you like to.

      • favoured111 11 March 2010 at 11:22 am #

        Hello Friends,

        Please could we get together to ask FirePips to start autotrading these signals for us. Even with a small charge will be good and still very good for some of us who are new to forex and are not yet benefiting from this miracle.

        Please I need your comments

        • ein 15 March 2010 at 1:27 am #

          I concur!! FirePips should be compensated for the monetary and intellectual gains he provides.
          -Ein

      • favoured111 11 March 2010 at 11:25 am #

        How do we get this our God sent Man to start auto trading for us. I have asked him for that and I believe he is out to help.

        Could interested people indicate as for us to push this forward. We can really benefit from this revelation.

        Thanks

  27. Ed K 11 March 2010 at 12:35 pm #

    Hey Firepips,

    What trading platform/software do you use? Metatrader says they do not honor OCO trades.

    Thanks

    • Diet Pipsi 11 March 2010 at 2:49 pm #

      While waiting for FP's response, I can say that many times he has been asked this and says he has several live accounts, and none are on MetaTrader platforms. I am aware of no MeteTrader broker offering OCO orders, because it is a limitation in MetaTrader.

      Further, if you put in both orders with the intent that you are just going to cancel the other one yourself after one triggers, you'll also run into a problem there. With most US brokers anyhow. They will not even let you place both orders (due to another limitation in MetaTrader regarding the no hedging rule).

      Best workaround is to use alarms, about 10 pips inside the price either way, and when an alarm goes off, then you come and place the order for one direction or the other.

      Someone has written a script to assist with the order entry, but I did not test it. His name on this board is Felipe.

      Someone else has written an EA that is to work with Google Docs that will place the orders for you, I have not tested it either. His name on this board is Guan.

      And I wrote an EA to enter the trade and manage it, which works perfectly on one of the brokers I use it with (FXDD) but I am still testing it to try to get it to work with another of my brokers (MBTrading). It should work on any 4th decimal broker. Try it in demo first, of course, and use at your own risk! But it may help you exactly.

      If you go to the downloads tab at the top of the page, you will see it there to download it.

      Hopefully helpful.

  28. Diet Pipsi 11 March 2010 at 2:39 pm #

    This week so far (as of 1600 candle):

    +420…Order ID: 1 – GBPJPY . . . 1 unit at +70, 1 unit at +140, 1 unit at +210, = +420
    -105….Order ID: 2 – CADJPY . . . 3 units at -35 = -105
    -120….Order ID: 3 – EURJPY . . . 3 units at -40 = -120
    -105….Order ID: 4 – CHFJPY . . . 3 units at -35 = -105
    +185…Order ID: 5 – EURJPY . . . 1 unit at +50, 1 unit at +100, 1 unit at +35, = +185
    +10…..Order ID: 6 – CADJPY . . . 1 unit at +40, 2 units at -15 (for -30), = +10
    +20…..Order ID: 7 – EURUSD . . . 1 unit at +40, 2 units at -10 (for -20), = +20
    -10……Order ID: 8 – GBPJPY . . . 1 unit at +70, 2 units at -40 (for -80), = -10
    +20…..Order ID: 9 – CADJPY . . . 1 unit at +40, 2 units at -10 (for -20), = +20
    ……….Order ID: 10 – EURUSD . . . Waiting for Fill
    ……….Order ID: 11 – EURJPY . . . Waiting for Fill
    -195….Order ID: 12 – GBPJPY . . . 3 units at -65 = -195
    -135….Order ID: 13 – CADJPY . . . 3 units at -45 = -135
    ……….Order ID: 14 – CADJPY . . . New Order

    -15 TOTAL CLOSED ON THE WEEK

    • Alvin 11 March 2010 at 2:49 pm #

      Running REd…haha…Let's turning green

  29. igit 11 March 2010 at 5:11 pm #

    Order ID: 11: Order Cancels Order: EURJPY: SELL 122.95 or BUY 124.10, Stop loss 115pips

    Dont know the pending order to place for the sell and the buy for EURJPY ?

    Is it a sell stop or a sell limit and a buy limit or a buy stop? which is it, the stop or the limit?

    • Diet Pipsi 11 March 2010 at 6:28 pm #

      All trades called in this method are always Stop orders when they are first posted. You place a Buy-Stop and a Sell-Stop (if your broker lets you place both, some don't, more on that in a moment).

      Later on after a signal has been called, if you missed it at the beginning of the bar, then there are times when you would use a Limit order, and times when you would use a Market order. But when the signals are first given out, and neither entry price has yet been touched, then Stop orders are what to use.

      Elsewhere in this same date of blog entries I talked about using alarms on your platform if you are using a broker that does not let you place both a Buy-Stop and a Sell-Stop at the same time. I won't re-hash it here, but it is on this same page of entries.

    • FirePips 12 March 2010 at 6:37 am #

      Broker give different names to their types and it can confusing at times.

      All signals are basically Pending Orders, waiting to be triggered at the entry price mentioned.
      They are not market orders.

      The best way to find out what order type you need for your platform is to contact broker's support people via chat. They are generally very helpful even if you are on demo.

  30. lnfx2009 11 March 2010 at 6:04 pm #

    hey firepip!

    On the cad/jpy sell at 87.65 that was filled. wud u keep this trade in? it did go 60 pips against and is now retracing…….i cant make up my mind!!!u have great patience!

    Many thanks for the trades….im learning so much! :)

    • Diet Pipsi 11 March 2010 at 6:21 pm #

      Generally, you need to determine the stop-loss before entering the trade, and then generally, you stick with it and whatever happens happens. You need to not keep second-guessing a trade prematurely.

      There are times when the market proves out that it just is not moving, or is moving indecisively, and then FirePips calls to tighten the stop sometimes. I've never seen a call on this board to just close a trade, only to tighten the stop.

      Plus on this board, that I have seen, FirePips never closes a trade or moves a stop before the next bar, when he can tell everyone the same thing.

      Just my observations, not meaning to answer for FP.

      Hopefully helpful – -

      • lnfx2009 11 March 2010 at 6:31 pm #

        Thanks for the message!

        Yeah I usually pull it early but today Im trying to hang in for the full amount of 75SL!

        I usually pull it and then when I check back it has turned around!

        Happy pipping! :)

        • Diet Pipsi 11 March 2010 at 6:42 pm #

          And don't you just HATE IT when that happens? I don't ever kill them early anymore, but I had one where I hit the stop-loss by 1 pip over, and FP missed the stop by a pip or two, and his turned around and hit the first target.

          But it also happened a week or so ago where he called to move the stop, when I wasn't here for an hour or so and missed that call. When I saw the call an hour late, price had already passed the stop price (and next bar he reported closing out) but I was still in and it had retraced back towards profit. When I saw the call, I did go ahead and move my stop to the point he called, but it never went back to the stop out, and went all the way to all three targets.

          And you just gotta LOVE when THAT happens!!

    • FirePips 12 March 2010 at 6:31 am #

      Sorry couldn't get back to you in time. As Diet Pipsi already mentioned that I wait for any changes until the end of the candle.

      The reason I do is because it is part of my trading plan and my goal is not to deviate away from it. Also it helps me to avoid looking at price constantly.

      Again if you keep making too many discretionary decisions how would you really know what works and what doesn't.

  31. Diet Pipsi 11 March 2010 at 6:11 pm #

    This week so far (as of 2000 candle):

    +420…Order ID: 1 – GBPJPY . . . 1 unit at +70, 1 unit at +140, 1 unit at +210, = +420
    -105….Order ID: 2 – CADJPY . . . 3 units at -35 = -105
    -120….Order ID: 3 – EURJPY . . . 3 units at -40 = -120
    -105….Order ID: 4 – CHFJPY . . . 3 units at -35 = -105
    +185…Order ID: 5 – EURJPY . . . 1 unit at +50, 1 unit at +100, 1 unit at +35, = +185
    +10…..Order ID: 6 – CADJPY . . . 1 unit at +40, 2 units at -15 (for -30), = +10
    +20…..Order ID: 7 – EURUSD . . . 1 unit at +40, 2 units at -10 (for -20), = +20
    -10……Order ID: 8 – GBPJPY . . . 1 unit at +70, 2 units at -40 (for -80), = -10
    +20…..Order ID: 9 – CADJPY . . . 1 unit at +40, 2 units at -10 (for -20), = +20
    ……….Order ID: 10 – EURUSD . . . Waiting for Fill
    ……….Order ID: 11 – EURJPY . . . Waiting for Fill
    -195….Order ID: 12 – GBPJPY . . . 3 units at -65 = -195
    -135….Order ID: 13 – CADJPY . . . 3 units at -45 = -135
    ……….Order ID: 14 – CADJPY . . . Currently at -50

    -15 TOTAL CLOSED ON THE WEEK

  32. MARIUS 12 March 2010 at 4:11 pm #

    To day I place ID 15 GBPJPY 3 orders buy stop 136,90. My broker MasterForex open when the price 136,83 (7 pips spread) In the fucher I mast place ordin ex. 136.97 ?
    I win for first position 7.72 dollar but for position 2 and 3 I win 5.07 and 4.42 dollar.
    YOU POST TO LET FOR CLOSE POSITION 2 AND 3.
    BEST REGARDS MARIUS

    • FirePips 15 March 2010 at 4:31 am #

      Order ID 15 was closed 2 candles before the end of the week. I do not like to keep traders open during this time at the end of the week.

      Let me know if this make sense.

  33. Dave 12 March 2010 at 2:42 pm #

    Hi Firepips, firstly thank you for providing the service that you do.
    If you don’t mind I have a suggestion to improve it?

    You say you’ve managed to avoid some losing trades by using your own judgement this week, so well done for that but you have also missed some good winners.

    If you had posted the buy signal for CAD/JPY @ 88.30 yesterday (16.00 bar) which has now hit 8950 3rd target you would be 240 pips in profit. Did you not post it because the pair has lost 405 pips so far this week and caused a psychological block on trading it?

    I know you gave up trading GBP/USD because it gave some losses one week but it has given up 300 pips on the first sell signal of the week hitting all 3 targets and also hit 1st target on the 2nd signal of the week and has hit the first target from the 8am signal this morning so total gain this week on Cable alone is 400 pips. It also gave similar pips last week.

    I see there have been no signals for CHF/JPY after the first loss this week and the pair have given up 120 on the sell order 16.00 bar on the 8th and 120 on the buy signal from the 16.00 on the 10th. So this week total for missed the pair 240 pips.

    So total of missed pips this week because you didn’t post the signals is around 880.

    Please don’t think I’m having a go but I think you should stick to the plan 100% so the followers of this great site have a good chance to make some serious pips.

    Trading all the signals last actually ended the week with 730 pips in profit this was because all the big moves happened on Friday after you had given up emailing the signals. Well done for getting back in the saddle this week.

    Please let me know your thoughts.


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