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Author Topic: FirePips  (Read 11861 times)

Offline adele

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FirePips
« on: May 03, 2011, 08:15:24 PM »
Anybody heard of this signal provider? Their website is www.firepips.com.

If I understand correctly, they offer 2 kinds of signals: swing and intra-day (the intra-day signals come from their live trading room). YTD figures just from their swing signals are already 2950 pips as of today.  8)

What I find very attractive here is they have EAs to automatically create and manage the orders. No need to wake up in the middle of the night to enter signals.   

They are also offering one month free subscription :) ...but must signup with one of their recommended brokers.  :(

Normal subscription fee ranges from $149-$299. The $299 package comes with access to their live trading room, 3 EAs which automatically execute 3 different strategies etc.

If anyone has tried this, hope you can share your experience with us here.
« Last Edit: May 03, 2011, 08:37:25 PM by adele »

Tradenow

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Re: FirePips
« Reply #1 on: May 03, 2011, 09:58:01 PM »
Anybody heard of this signal provider? Their website is www.firepips.com.

If I understand correctly, they offer 2 kinds of signals: swing and intra-day (the intra-day signals come from their live trading room). YTD figures just from their swing signals are already 2950 pips as of today.  8)

What I find very attractive here is they have EAs to automatically create and manage the orders. No need to wake up in the middle of the night to enter signals.   

They are also offering one month free subscription :) ...but must signup with one of their recommended brokers.  :(

Normal subscription fee ranges from $149-$299. The $299 package comes with access to their live trading room, 3 EAs which automatically execute 3 different strategies etc.

If anyone has tried this, hope you can share your experience with us here.

hi adele,

thanks for the information. looks very interesting. i made a quick research on the net and found nothing negativ about firepips. he offered his service for free some time ago via his own blog. Firepips is a australian guy and shared many infos at forexfactory.com. The people who followed him on his free blog were satisfied with the results and sorry about his decision to offer such a expensive service.
anyway i subscribed as elite plus member and will test his system 4 weeks. if the guy is so good as stated in the net it could be a profitable deal for me. Also i want to learn his strategy.
The eas are installed and i am waiting for my live acc. verification. in 4 weeks we are a little bit wiser.  ;)

best regards
mark 




Online pipmenow

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Re: FirePips
« Reply #2 on: May 04, 2011, 05:38:08 AM »
Great. Keep us updated. Thanks.
Grid "born and bred".

Online pipmenow

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Re: FirePips
« Reply #3 on: May 04, 2011, 05:44:16 AM »
I tried the service out about one year ago.  I get emails once a week or so.  I stopped the service because at the time I could not justify the cost per month.  The email I received today bragged about +690 pips for the elite swing forex signals last month.  I would like to see if that result can be duplicated by the subscribers.

I look forward to your results.
Grid "born and bred".

Offline bjanssen

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Re: FirePips
« Reply #4 on: May 04, 2011, 06:06:30 AM »
I used the service over a year ago when it was free and it performed reasonably well.  It switched over to the (pricey) subscription model and I signed up.  It seemed that from the minute it became a paid service all hell broke loose.  There was a couple of very big losing months in a row and I quit.  I continued to receive the 'amazing performance' emails though.

Last month I signed up for the free one month trial.  There were not that many trades but they were profitable.  It has now expired and I'm considering giving it another month.

As for the signals, there are elite signals, live trading room signals, and candle strategy signals all for the $299.  For me the elite signals were the only ones that made money.  I didn't get any LTR signals and the candle strategy ended up in the negative for me.

Combining the elite and candle trades I ended up at break even so would have been down the cost of subscription.  If I just had the elite signals I would have just covered the monthly fee, so you would need to use significantly larger lot sizes than I did.

Any questions, just fire away and I will do my best to answer from last months experience.

BJ
« Last Edit: May 04, 2011, 06:18:08 AM by bjanssen »

Offline bjanssen

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Re: FirePips
« Reply #5 on: May 04, 2011, 06:15:35 AM »
Elite Signals (last column is cumulative dollars)


14825058   2011.03.28 13:55   buy   0.04   eurusd   1.40965   1.40265   1.41865   2011.03.29 06:18   1.41270   0   0   0.06    $11.88     $11.88
14836392   2011.03.28 13:55   buy   0.09   eurusd   1.40965   1.40950   1.41865   2011.03.29 10:26   1.40950   0   0   0.13   -$1.32     $10.56
14936601   2011.04.04 06:56   sell   0.14   eurjpy   119.49900   119.85000   118.29900   2011.04.04 23:19   119.85000   0   0   -0.66   -$56.31    -$45.75
14939970   2011.04.04 09:03   sell   0.04   eurusd   1.41949   1.41950   1.40899   2011.04.05 13:03   1.41589   0   0   -0.09    $13.97    -$31.78
14961469   2011.04.04 09:03   sell   0.07   eurusd   1.41949   1.41950   1.40899   2011.04.05 14:26   1.41950   0   0   -0.17   -$0.07    -$31.85
14974106   2011.04.06 01:59   buy   0.05   eurusd   1.42612   1.41912   1.43662   2011.04.06 07:34   1.42967   0   0   0    $17.10    -$14.75
14978826   2011.04.06 01:59   buy   0.09   eurusd   1.42612   1.428   1.43662   2011.04.06 13:20   1.428   0   0   0    $16.29     $1.54
15017203   2011.04.08 01:16   buy   0.04   eurjpy   122.099   121.249   123.299   2011.04.08 01:44   122.498   0   0   0    $17.84     $19.38
15019209   2011.04.08 01:16   buy   0.04   eurjpy   122.099   122.1   123.299   2011.04.08 07:40   122.9   0   0   0    $35.69     $55.07
15025686   2011.04.08 01:16   buy   0.03   eurjpy   122.099   122.1   123.299   2011.04.08 13:00   122.957   0   0   0    $28.67     $83.74
15045295   2011.04.11 08:29   sell   0.05   eurjpy   122.192   122.892   120.992   2011.04.11 23:39   121.805   0   0   -0.33    $21.87     $105.61
15057311   2011.04.11 08:29   sell   0.05   eurjpy   122.192   122.542   120.992   2011.04.12 01:01   121.385   0   0   -0.33    $45.76     $151.37
15058542   2011.04.11 08:29   sell   0.04   eurjpy   122.192   122.192   120.992   2011.04.12 02:25   120.992   0   0   -0.26    $54.68     $206.05
15058129   2011.04.12 00:30   sell   0.13   eurusd   1.44046   1.441   1.42996   2011.04.12 07:11   1.441   0   0   0   -$6.72     $199.33
15156686   2011.04.18 07:29   sell   0.04   eurjpy   118.792   119.2   117.592   2011.04.18 10:41   118.379   0   0   0    $18.96     $218.29
15160355   2011.04.18 07:29   sell   0.04   eurjpy   118.792   118.8   117.592   2011.04.18 13:51   117.988   0   0   0    $37.06     $255.35
15168967   2011.04.18 07:29   sell   0.05   eurjpy   118.792   118.8   117.592   2011.04.18 14:45   117.592   0   0   0    $69.40     $324.75

BJ

Offline bjanssen

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Re: FirePips
« Reply #6 on: May 04, 2011, 06:16:20 AM »
Candlestick strategy (last column is cumulative dollars)

15075057   2011.04.12 10:45   buy   0.64   eurjpy   122.02000   121.87000   123.02000   2011.04.12 11:00   121.87000   0   0   0   -$108.66    -$108.66
15095773   2011.04.13 07:27   buy   0.65   eurusd   1.45186   1.45036   1.45486   2011.04.13 07:36   1.45036   0   0   0   -$92.92    -$201.58
15125573   2011.04.14 11:08   buy   0.32   eurusd   1.43750   1.43600   1.44750   2011.04.14 11:21   1.43865   0   0   0    $35.09    -$166.49
15125853   2011.04.14 11:08   buy   0.32   eurusd   1.43750   1.43750   1.43990   2011.04.14 12:03   1.43990   0   0   0    $73.13    -$93.36
15140959   2011.04.15 05:39   sell   0.32   gbpusd   1.63316   1.63466   1.62316   2011.04.15 05:55   1.63213   0   0   0    $31.33    -$62.03
15155180   2011.04.18 05:56   sell   0.64   gbpusd   1.62802   1.62952   1.61802   2011.04.18 06:29   1.62835   0   0   0   -$19.99    -$82.02
15158332   2011.04.18 07:45   sell   0.64   eurusd   1.43468   1.43618   1.42468   2011.04.18 07:46   1.43448   0   0   0    $12.13    -$69.89
15159728   2011.04.18 09:42   sell   0.64   gbpjpy   134.695   134.845   133.695   2011.04.18 09:54   134.845   0   0   0   -$109.94    -$179.83
15192996   2011.04.19 06:17   sell   0.63   eurjpy   117.146   117.296   116.146   2011.04.19 06:30   117.296   0   0   0   -$109.61    -$289.44
15218389   2011.04.20 06:54   sell   0.64   gbpusd   1.63599   1.63749   1.62599   2011.04.20 07:10   1.63621   0   0   0   -$13.28    -$302.72
15223598   2011.04.20 08:59   sell   0.32   eurjpy   119.916   119.916   118.916   2011.04.20 09:08   119.809   0   0   0    $38.86    -$263.86
15251734   2011.04.21 07:54   buy   0.31   eurjpy   120.051   119.901   121.051   2011.04.21 07:59   120.158   0   0   0    $37.57    -$226.29
15254828   2011.04.21 10:59   sell   0.31   eurjpy   119.865   120.015   118.865   2011.04.21 11:05   119.761   0   0   0    $36.51    -$189.78
15334870   2011.04.27 07:32   sell   0.6   eurusd   1.46642   1.46792   1.45642   2011.04.27 08:27   1.46792   0   0   0   -$83.21    -$272.99


BJ

Offline adele

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Re: FirePips
« Reply #7 on: May 04, 2011, 06:44:49 AM »
Thanks to all of you for your feedback. I'm so glad to get opinions from actual subscribers instead of just having to rely on their performance stats!

Looks like their Elite Signals are the ones to watch out for. As I trade in small lots, will also need to track their performance to see if the profits can justify the cost.

BJ, based on your results and the stats in their Performance page, would you say that you get similar trades/results for the Elite Signals as what they posted? Sorry... a bit hard to calculate pips from the text.  :P

Mark, we are relying on you to keep us updated. ;) Thanks in advance...we will be following your posts closely.
« Last Edit: May 04, 2011, 12:03:54 PM by adele »

Offline bjanssen

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Re: FirePips
« Reply #8 on: May 04, 2011, 06:51:39 AM »
Just to add to this, one thing that really makes me nervous is that their performance page only lists their trades starting from this year.  The service has been running for a LOT longer than one year.  Is this deliberate because they've only been profitable this year?  Hmmm.....

BJ

Offline adele

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Re: FirePips
« Reply #9 on: May 04, 2011, 06:56:59 AM »
I was wondering that too. But sometimes they change their strategy and may only wish to show the stats based on the current strategy. We'll have to wait and see...

Btw, what are the parameters available for the swing signals EA?
« Last Edit: May 04, 2011, 08:31:48 AM by adele »

Tradenow

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Re: FirePips
« Reply #10 on: May 04, 2011, 09:57:01 AM »
Hi,

its great to have such a fine experienced community here. 
Saving me lots of money. Thanks for all the information.  :)
After i red the posts i installed the elite signals only on two charts with 0.1 lots fixed.
Now waiting for the first trades. Keep you updated...

best regards
mark
 

Tradenow

  • Guest
Re: FirePips
« Reply #11 on: May 04, 2011, 10:06:14 AM »
Btw, what are the parameters available for the swing signals EA?

Hi,

i think i can quote from manual as it is free promotion for this ea service to show exactly the settings available.
If it is not ok and firepips read this please PM me. I delete it instantly.

Quote
MoneyManagement:  This field is only a comment. No need to modify it. It is there
to make it clear that you need to choose between % based Risk (PercentRisk) or
Fixed Lots (LotsPerTP)
PercentRisk: default is 0. You can use this parameter to specify your overall risk
based on percentage of your account equity.
LotsPerTP: Default is 0.01. Lots used for each TP. This way you can define a specific
number of lots per trade.
HowManyTPs: Default is 3, possible values 1, 2 or 3 only. Default is to use 3 TPs since
we use 3 lot method per trade.
    For example using default LotsPerTP=0.01 and default HowManyTPs=3, EA will
open 0.03 lots when OCO/Pending order is opened and close 0.01 lots at each 3
targets. It will move  Stop Loss as per our normal trading method.
    If you select 1, then EA will open 0.01 lot and it will be closed when first Profit
Target is reached.
    If you select 2, then EA will close first 0.01 lot at first Profit Target and move Stop
Loss at half for second 0.01 lot. Second 0.01 will be closed when price reach sec-
ond Profit Target.
ExtraPips: default is 0, if your broker have higher spreads then use this value to add
or subtract extra pips from  Stop Loss and Profit Target
    Ex:  a value of 5 will change  Stop Loss from 1.3500 to 1.3505 for a Sell Order. Simi-
larly it will modify Profit Target from 1.3450 to 1.3455.
CommentsOnChart: By default comments are enabled on charts. I suggest you
leave them enabled.
BreakEvenOnTP1: You can chose to move Stop Loss to Break Even after first Profit
Target is reached. Be default Stop Loss is moved the Break Even only after Second
Profit Target is reached.


best regards
mark
« Last Edit: May 04, 2011, 10:08:26 AM by Tradenow »

Offline adele

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Re: FirePips
« Reply #12 on: May 04, 2011, 10:58:59 AM »
Thanks!  :)

Was able to calculate the pips for BJ's results and compare with the performance stats on the website. Good news: the results are very similar so the signal provider is not fudging his figures.  ;)  In fact, BJ's results are better than the results posted on the website. Summary as follows:

                   BJ            FirePips

Mar 28          29               30
Apr 4             0.8            -70         
Apr 6           54.3             75
Apr 8         205.8            205
Apr 11        239.4           240
Apr 12          -5.4
Apr 18        241.7           240
                 -------        -------
   Total       765.6           720         <- difference of 45.6 pips
« Last Edit: May 04, 2011, 11:57:24 AM by adele »

Tradenow

  • Guest
Re: FirePips
« Reply #13 on: May 04, 2011, 12:39:25 PM »
Thanks!  :)

Was able to calculate the pips for BJ's results and compare with the performance stats on the website. Good news: the results are very similar so the signal provider is not fudging his figures.  ;)  In fact, BJ's results are better than the results posted on the website. Summary as follows:

                   BJ            FirePips

Mar 28          29               30
Apr 4             0.8            -70         
Apr 6           54.3             75
Apr 8         205.8            205
Apr 11        239.4           240
Apr 12          -5.4
Apr 18        241.7           240
                 -------        -------
   Total       765.6           720         <- difference of 45.6 pips

good to know.  :)

you can add this one:

05.04.2011 13:02    05.04.2011 13:17    EURJPY    Buy    0.30    120.70000    121.10000    120.70000    120.71000    +1.0pips     15m    

my first trade is a winner!!! ;)

Offline keleshia

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Re: FirePips
« Reply #14 on: May 04, 2011, 02:45:30 PM »
Thanks to adele for sharing this service!
Just to share what I asked on livechat! Also, they mentioned past year performance will be put on soon 3-4weeks time.

i'm still hesitant to open a new account with markets.com , just not sure with the broker and reluctant about opening too many broker accounts! hee, anyone of you have experience with markets.com? Well, if they are really decent with the profits, i wouldn't mind putting in the money for a good decent return! Looking forward to hear more from you guys!

 

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