Comments on: Forex Signals 4th Feb

By: FirePips

FirePips — Wed, 10 Feb 2010 22:20:09 +0000

Hi Murat,

Your argument seems valid at the surface however if we look closely there are assumption which solely serves one purpose.

1. Your comparison is flawed since it compares Total Risk vs Net Result. An ideal comparison would be between Total Risk vs Total Potential Profit.
2. Average number of Pips. This number could vary from week to week.
3. Assumption that 100% trades would be losers. If you can't be 100% right then at the same time you can't also be 100% wrong.
4. If you take your analogy then every strategy would have similar amount of risk.

By: murat

murat — Wed, 10 Feb 2010 16:47:37 +0000

Hello FirePips,

I was looking at your performances&strategy. Well I must say I feel a little scared to risk more than 4000 pips a week to make (when it is good one) 400 pips.

How I made this numbers? It's easy. Lets consider an average of 15 trade per week. Let's consider now an averago of 90 pips of stoploss. Let's make 400*3 portion of a trade. It's total of 4050 pips risk. This is the COST of this strategy.

Which wise business-man will invest 100 in a super risky market to make, at his best 10? I think not many. You have to be right many many times to be profitable in the long run.

I say this to allow people to use the brain and to stop watching only the result of a week or two.

By: Adrian

Adrian — Thu, 04 Feb 2010 23:58:09 +0000

Nice day today, congratulations, I look forward to starting Monday a fresh week.

Well done

By: FirePips

FirePips — Thu, 04 Feb 2010 23:25:08 +0000

@Richard,

5PM EST = 0000 Hour Candle
9PM EST = 0400 Hour Candle
and so on…

The reason why we do it that way is because it syncs with the charts.

By: FirePips

FirePips — Thu, 04 Feb 2010 23:22:52 +0000

Good one Perrie !

By: richard

richard — Thu, 04 Feb 2010 21:52:32 +0000

Hi ,i think i may be struggling with the basics here, i dont understand why 9am EST is 1600 candle.
thanks in advance

By: perrie

perrie — Thu, 04 Feb 2010 20:12:55 +0000

I’ve pretty much closed down all trades, or they did it for themselves. don’t want to be around friday night. However, I’m tickled pink at not 1 but TWO 400 pip trades – GBP/JPY and EUR/JPY – never have i ever got anything like that before ! – and of course your trades made the icing on the cake !
congrats.

By: Diet Pipsi

Diet Pipsi — Thu, 04 Feb 2010 18:43:57 +0000

@FirePips, I’d love to learn how you do your analysis, to pick what trades to take. THEN maybe I wouldn’t need your signals soon . . .

By: Ergin

Ergin — Thu, 04 Feb 2010 18:38:33 +0000

I have just joined your signals group. I appreciate you. I wonder where are you from and where do you live? Thanks again for your signals.

By: FirePips

FirePips — Thu, 04 Feb 2010 18:08:42 +0000

@Diet Pipsi, Looks like you won’t need my signals soon

Who said “make money while you sleep” was a pipe dream !