Forex Signals 8th Mar
I hope you all had a great weekend. Last week was a bit dull in comparison to previous weeks, not very surprising due to NFP. We had few trades which narrowly missed our profit targets and end up reversing all the way.
I personally don’t consider last week a failure. I think we managed to cut our losses early by stopping to trade in a sideways market. If we would have continued then we may have accumulated more losses which could have made recovery harder for the month. Most of you already realized that we went into capital preservation mode and this way we gave ourselves best chances to come out on top.
Update at 1 AM EST / 6 AM GMT / 0800 Hour Candle:
Order ID: 1 | Order Cancels Order | $GBPJPY Sell 136.60 or Buy 137.45 | Stop Loss: 85 Pips | Take Profit: 70-140-210 Pips
Order ID: 2 | Order Cancels Order | $CADJPY Sell 87.80 or Buy 88.35 | Stop Loss: 55 Pips | Take Profit: 40-80-120 Pips
Update at 5 AM EST / 10 AM GMT / 1200 Hour Candle:
Order ID: 1 | Update| $GBPJPY Sell 136.60 or Buy 137.45 | Waiting to get filled
Order ID: 2 | Update | $CADJPY Sell 87.80 | Currently at -5
Order ID: 3 | Order Cancels Order | $EURJPY Sell 123.15 or Buy 123.95 | Stop Loss: 80 Pips | Take Profit: 50-100-150 Pips
Order ID: 4 | Order Cancels Order | $CHFJPY Sell 84.15 or Buy 84.75 | Stop Loss: 60 Pips | Take Profit: 30-60-90 Pips
Update at 9 AM EST / 2 PM GMT / 1600 Hour Candle:
Order ID: 1 | Update | $GBPJPY Sell 136.60 | Currently at -15
Order ID: 2 | Update | $CADJPY Sell 87.80 | Move Stop Loss to 88.15
Order ID: 3 | Update | $EURJPY Sell 123.15 | Move Stop Loss to 123.55
Order ID: 4 | Update | $CHFJPY Sell 84.15 | Move Stop Loss to 84.50
Update at 1 PM EST / 6PM GMT / 2000 Hour Candle:
Order ID: 1 | Update | $GBPJPY Sell 136.60 | First Profit Target Reached at +70 | Move Stop Loss to 137.02
Order ID: 2 | Update | $CADJPY Sell 87.80 | Closed out at -35
Order ID: 3 | Update | $EURJPY Sell 123.15 | Closed out at -40
Order ID: 4 | Update | $CHFJPY Sell 84.15 | Closed out at -35
Order ID: 5 | Order Cancels Order | $EURJPY Sell 122.75 or Buy 123.80 | Stop Loss: 105 Pips | Take Profit: 50-100-150 Pips
Order ID: 6 | Order Cancels Order | $CADJPY Sell 87.60 or Buy 88.20 | Stop Loss: 60 Pips | Take Profit: 40-80-120 Pips
Order ID: 7 | Order Cancels Order | $EURUSD Sell 1.3595 or Buy 1.3700 | Stop Loss: 105 Pips | Take Profit: 40-80-120 Pips
Just a quick question……what leverage would you recommend to use?
Thanks in advance.
I trade with 100:1
Try going through this link http://forex.firepips.com/category/forex-articles… you will find couple of articles on Leverage.
Hey FirePips,
Which is time frame in your trade orders?
Thanks for the signals.
I write you from Spain (Europe)
Signals are based on 4 hour candle. Try reading http://forex.firepips.com/forex-signals/
Hey Firepips,
Heres to a great week!
Thanks for the signals.
Happy pipping!
Thanks mate. Time to make some pips
good morning a question . is it possible to place the time when a signal is given ? and when the signal gives buy at 130 how long do i wait till i know it will stay above 130 / thank you verry much for your answer and hope i can follow you for a long time see you
Signals are given out at 4 hour intervals starting from 1AM EST. Please read http://forex.firepips.com/forex-signals/
All orders are pending orders and they remain open until filled or canceled. I send updates every 4 hour to let you know what to do every order.
Great job FirePips! Hope you keep posting your signals for a Long Time to come!!!
I hope so too Rudy
How do we confirm the entire market is sideways and not just a few pairs?
One way to find out is to look at US Dollar Index. It gives a very good idea of how market is doing overall
ok my first signal its a pending order and it is relevant from the time in writing this wich in my time is 11:00 gmt
pending order: buy gbp/usd : entry 1.5174, stop loss, 1.5084 first take profit, 1.5264 second take profit, 1.5354
remember we open two trades at the same time with different take profits when the first take profit is hit we move stop loss to break even or plus ten pips the stop loss doesnt have to be an acctually physical stop loss it could just be a mental stop loss it is up to you but you will have to monitor your trades as they could be open for a few days many thanks
Hey FirePips,
Which is time frame in your trade orders?
Thanks for the signals.
I write you from Spain (Europe)
Hello firepips… BTW, can you post/tell me how many pips we make last week?? I count all of the trades for last week are negative…Please post that as usual. Thx
My count stands at -503 pips for last week, did you get the same figure?
Thanks Indy…it is around that mark.
I see my previous comment didn't get posted. I wonder why
)
looking at the signals
Ex:” Order ID: 3 | Order Cancels Order | $EURJPY Sell 123.15 or Buy 123.95 |
Stop Loss: 80 Pips | Take Profit: 50-100-150 Pips”
- I noticed that the max loss could be 240 pips and the max profit could be 300 pips.
Question: Is it a general rule to only get into positions were we can win more then we risk to lose?
We do take trades where RR doesn't seem ideal, however we move Stop Loss as the trade goes along which changes the overall RR.
Not taking a trade because of undesirable RR in the beginning would stop us from many profitable trades.
Hi firepips,
I am new to this forea trading and am currently using your signals on virtual money… and trying to get a feel of the market.
Good to hear mate….keep in demo until you feel confident to start to live.