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FirePips Journal + Free Forex Signals
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[QUOTE="FirePips, post: 8142, member: 2560"] [b]FirePips Free Forex Signals[/b] Hello Everyone ! [B]Free Forex Signals are back[/B]. That’s right, I've decided to provide the signals again. My previous signals though successful, had higher overhead in terms of trade management. Previous signals required a lot more screen time and frequent updates which took a big chunk of my time. After months of research and back testing I was able to use the same previously successful method and apply it to higher time frames. Now instead of using 5 or 15 Mins charts I use 4hr charts which helps me to cut down screen time and less trade management. These signals are as usual [B]based on price action only[/B] and no indicators are used. As far my internet research goes no one else has published such method yet. I am happy to be corrected if found otherwise. At this stage I'll only provide signals as they happen but refrain from discussing exact methodology. I've been using this system for a while now and it works great with all major pairs. The idea behind these Forex signals is simple, we look at the [B]price in relation to weekly and monthly price movement[/B]. We then wait for price to start trending in the same direction. Each trade is open with multiple of 3 lots. For example it could be 3 Mini, 9 Mini, 6 Micro, 3 Standard etc, any trade size in multiple of 3. It would depend on your money management as to what size you should trade. Read more on [URL="http://forex.firepips.com/2008/10/27/forex-money-management-a-new-approach"]Money Management[/URL]. Profit Target and Stop Loss are all based on price action and would vary from trade to trade. Most trades would have Risk to Reward ratio of 1:1 or better but at time it could vary. These Forex Signals would be posted as usual on [URL="http://twitter.com/FirePips"]Twitter[/URL] and [URL="http://www.facebook.com/firepips"]Facebook[/URL]. I'll also update blog, so it is a good idea to subscribe to email alerts. If you haven't already done so then you can do it [URL="http://www.feedburner.com/fb/a/emailverifySubmit?feedId=2511754&loc=en_US"]Here[/URL]. In the future I may introduce SMS alerts as well. Happy Trading. [/QUOTE]
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