Forex Signals 2nd Mar
Yesterday was a day of mixed results. Most weeks do start like that, so I am not surprised at all. What is important is to trade as usual and don’t let the emotions take over your mental balance. It is easy to get carried away by a series of wins and on the other hand stop trading when things go bad.
Winners and Losers are part of the game and you can never know the sequence they will come. That’s why it is important to take all trades and follow them until they either reach Profit Target or Stop Loss.
Update at 5PM EST / 10 PM GMT / 0000 Hour Candle:
Order ID: 3 | Update | $CADJPY Buy 84.80 | Waiting for Third Profit Target to Reach at +120
Order ID: 5 | Update | $EURUSD Sell 1.3580 | Third Profit Target Reached at +120 Pips Earlier
Order ID: 6 | Update | $EURJPY Sell 120.40 | Move Stop Loss to 121.10
Order ID: 7 | Update | $CHFJPY Sell 82.20 | Move Stop Loss to 82.75
Update at 9PM EST / 2 AM GMT / 0400 Hour Candle:
Order ID: 3 | Update | $CADJPY Buy 84.80 | Move Stop Loss to 85.40
Order ID: 6 | Update | $EURJPY Sell 120.40 | Currently at -35
Order ID: 7 | Update | $CHFJPY Sell 82.20 | Currently at -30Order ID: 8 | Pending | $EURUSD Sell 1.3515 | Stop Loss: 70 Pips | Take Profit: 40-80-120 Pips
Update at 1AM EST / 6 AM GMT / 0800 Hour Candle:
Order ID: 3 | Update | $CADJPY Buy 84.80 | Currently at +80
Order ID: 6 | Update | $EURJPY Sell 120.40 | Currently at -45
Order ID: 7 | Update | $CHFJPY Sell 82.20 | Currently at -35
Order ID: 8 | Update | $EURUSD Sell 1.3515 | Move Stop Loss to 1.3550
Update at 5AM EST / 10 AM GMT / 1200 Hour Candle:
Order ID: 3 | Update | $CADJPY Buy 84.80 | Missed Third Profit Target by 2 Pips | Stop Loss at 85.40
Order ID: 6 | Update | $EURJPY Sell 120.40 | First Profit Target Reached at +50 | Stop Loss at 121.10
Order ID: 7 | Update | $CHFJPY Sell 82.20 | First Profit Target Reached at +30 | Stop Loss at 82.75
Order ID: 8 | Update | $EURUSD Sell 1.3515 | Missed Second Profit Target by 5 Pips | Stop Loss at 1.3550
Update at 9AM EST / 2 PM GMT / 1600 Hour Candle:
Order ID: 3 | Update | $CADJPY Buy 84.80 | Third Profit Target Reached at +120
Order ID: 6 | Update | $EURJPY Sell 120.40 | Closed out at -70
Order ID: 7 | Update | $CHFJPY Sell 82.20 | Closed out at -55
Order ID: 8 | Update | $EURUSD Sell 1.3515 | Closed out at -35Order ID: 9 | Order Cancels Order | $EURJPY Sell 119.95 or Buy 121.40 | Stop Loss: 145 Pips | Take Profit: 50-100-150 Pips
Update at 1PM EST / 6PM GMT / 2000 Hour Candle:
Order ID: 9 | Update | $EURJPY Sell 119.95 or Buy 121.40 | Waiting to get filled
Looking to add Desktop Alert software to deliver signals…any suggestions?
maybe something like sidebar gadget? with timer and easy copy/paste things
How that works. Do we need to install something in our computer in order to see the signal?
Either that, or some software that can let me connect to google, yahoo and msn messenger and enable boradcast to everyone.
Digsby might be able to do that. http://www.digsby.com/features.php
I have never used it for that purpose so not sure it will work the way you want.
Thanks mate. Trilian is looking great so far. I'll check digsby anyways
Good RSS reader for Windows – http://www.feedreader.com/
And you could make RSS feed specialy for signals
Opera Browser cool thou for rrs and mail
Or you could use Twitter account – Twitter is publishing also RSS feed of tweets.
I am testing Trillian to Broadcast Signals on multiple chat messengers For ex. Yahoo, Google Talk, MSN, AIM.
So far limited testing on Google talk has been successful. Yahoo and MSN needs to be next. Can I ask everyone to add me to your list:
FirePips@gmail.com
FirePips@yahoo.com
FirePips@hotmail.com
Firepips – AIM
Skype doesn't let me send broadcast, so it is out of picture for now.
Done. Although, I still think the way you're doing it is just fine. At about 4 minutes after the hour every four hours, I check Twitter first. Then if not there I go to the blog or my email. IMO it ain't broke!
I agree about Twitter being a great simple way to output info like this.
Desktop Alert is the last thing I am going to add to deliver signals.
That would bring it to total of 5 ways of receiving signals.
Hi FirePips,
Firstly let me say thanks for the fantastic job you are doing.
I suggest that what ever you do, just do what is easiest for yourself.
My only suggestion would be to have a dedicated service, where we do not have member comments in amongst the signals.
Please carry on wih the good work.
Best regards,
You are right, that's why I am not considering a Chatroom at this stage.
hi firepip. i have started my blog too)) like month ago. already have some posts there. i know that i dont have readers yet, but i dont care. everything big starts with something small. at least i get some experience. what do you think http:/IamSoCrazy.LiveJournal.com
Good one ART. If I may suggest anything then try to post regularly.
Thx)) i would be happy to. )) i can post both in english and russian language. also we may start expansion to russian social networks. vk.com is most popular of them there over 60 millions accounts. and it supports 30 languages about 90% of its users are from formed soviet union. some people call it clone of facebook.
what do you think?
Never heard of it before. It says 64 mil on its home page and it does looks like FB. Good luck
Whats wrong with twitter? Works fine for mw.
I get filled EUR/USD Sell position@ 1.3515…And then reverse…Anybody get filled??? Did you get filled Firepips??
THX
I was filled as well on short EURUSD @ 1.3515
Yes we are short EURUSD.
When you do an update on an order and that order has closed, you should change the verbiage from "Update" to "Closed". Then your status would look like the following:
OCO
Update
Closed
Good idea. I keep that in mind when I go about making next set of changes.
I disagree, if the update clearly states "Closed out at -70" it is an update, and the update is that the order closed.
Or if the update states "Third Profit Target Reached" then we know the order closed.
Now I have seen a few where even for several candles after a trade closed, Firepips is still listing that trade in the updates, and in that case maybe it would help, but even still, if he says "Third Profit Target reached at 120 pips earlier" it's still clear that it closed.
Just my .02 cents
I understand that, and agree. But even then he could say Update – Closed the first time, and then after remove the update. Because you only need to see the update once. After that it makes it for easy and quick reading to see Closed instead of Update all the time.
It's just a suggestion. It would also help if he actually does create an RSS file.
Firepips, I have some code for an Expert to read websites (like RSS files) from within MT4 if you want to go that way instead of desktop alerts.
What do you mean by RSS file? Do you have a link I can read?
Don't worry about it, I saw someone mention that Twitter already has an RSS file, I can work off of that and get back to you later on it.
Hi FP, Quick question: what do you prefer to do when the stop has been moved closer to the entry before the first target has been hit? Do we move the stop to half of the modified stop or half of the original stop? Thanks.
Good question. We keep the Stop Loss which is the closet, the one that minimizes loss
The price is really crazy today. I just saw a 60 pips drop in like 30 seconds. Hadn't even time to press sell. Hehe. No trades for me today.
God Bless you, all your hans effort has blessed
Hi FP, I'm nubie in forex and want to ask a question. can I use a trailing stop of 1 open trade instead of open 3 trades w/ different tp? no different right?
I think the idea is only to open 1 trade anyway, when it hits the first profit target you adjust your stop but leave the trade running. Nothing to stop you opening 3 seperate trades but you are risking 3 x the stop. That`s how I understood it anyway.
No, the method as laid out calls to open 3 separate trades OR one single trade for 3 units of lot size. At the first target, you close one trade, or 1/3 of your trade if you took at as one 3-unit trade.
As to taking it all as one trade, someone wrote about his testing of that several weeks ago, but Firepips wrote and said he had not tested it that way. I think he said it would be a viable strategy, he just didn't have any testing to state any results.
Hopefully helpful -
I thought the point is to get max profit and safe trade. if we put a trailing stop let's say 50 pips will move the SL every 50 steps. I'll try this first if it's good result I'll let you know.
Hi B_J,
Th point is trailing stop does not necessary get the max profit. For example, sometime the price may retrace back to a level below your entry price before bouncing to your target profit. If you use a trailing stop, you will get stop out prematurely with a small profit.
Though you might say small profit is better than no profit but 1 losing trade would wipe you many small profit out
That's my 2 cent worth
Hi FirePips,
Started watching yesterday. Keep up the good work.
Being new to FX I am going to try and follow your signals using a demo spread betting account. Not sure yet how the timing will fit in and whether missing some of the entries will have too much of an affect on results. Sods law dictates that the ones I miss will be the winners and the ones I take the losers of course (;0)
Is there any chance of including a weekly total of closed trades? I know yesterday started with some losers and I think finished with winners but apart from the figures you give in the updates on any open trades have no idea how the week is going overall.
Thanks for all your hard work.
Estaban
Hi Again,
Just re-read my comments. By `closed trades` what I meant was how many points won/lost so far on all the closed trades.
Hope this makes sense.
I usually like to keep a tally during the week. See my new post today for explanation.
As a matter of interest..FP..do you trade these signals personally on an MT4 platform?
I trade all my signals as in but not on MT4.