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Author Topic: FirePips  (Read 11862 times)

Offline jgadefelth

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Re: FirePips
« Reply #15 on: May 04, 2011, 05:31:49 PM »
I think finexo.com and markets.com   are related somhow when i had signed up for a demo on finexo.com and tryed a demo for markets.com    they say i already had an account.   Also same seller was trying  to contact me  when i had  registered a demo at finexo and markets.com.  i traded little on demo with finexo.com    and had a trade a wanted to know little more about. So i contacted live chat they just try to send me to someone else after i had waited forever.  The chat was closed down, they did not respond to emails that i send also. I had some hope for this broker  but after i had  experienced the worst support i ever come accross i give up. I also read  on internet that other people have the same prolblems they also had problems   getting their money out from the broker.

In short i  think markets.com   are realted to finexo.com  so if i would you i stay away.  I recomed you to try to ask a question about your demo account to livechat se if they are helpfull.


best regards

Offline kubo207

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Re: FirePips
« Reply #16 on: May 04, 2011, 08:04:40 PM »
Hi all,

I signed to Firepips trial about 2 weeks ago. The frequency of calls is limited, Elite 4H about 1-2 a week, "live" trades via trading room about 1-2 / day, but some of them are canceled because they do not fill. The LTR signals (announced live via trading room, but also copied via EA) in total in small profit. Elite one signal hit TP at 240 pips (in reality 120 pips, but you have to open 3 trades, and close at 40, 80 and 120 pips of profit, so therefore total profit 240 pips). Today the Elite signal hit SL at 110 pips, so I think it should count as total loss of 330 pips (elite signals have 3 TP).

The EA's works fine.

There is also chance to ask questions in trading room why the particular trade was taken.

Till now it looks OK to me and I would say that the performance history is real, but I am still not convinced that it is the best signals provider for that money...

Jakub

Offline jgadefelth

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Re: FirePips
« Reply #17 on: May 04, 2011, 09:01:08 PM »
kubo  as you mention the result will not be  a real 240 pips if it is devided into 3 targets.    how do we calculate the real pips  ? this is verry important  will it be 240 devided by 3 ?

this starting to look bad    2 out of 3 signals are not good, only the elite  is going + if i understand it right. The service is little expensive 249 a mounth.

And now this also a 3 tp target that makes the pipscount something else when you look at the real pips. Also what happen to elite before this year ...... ?    like i say in my mind it is   ringing some warningbells.


best regards
« Last Edit: May 04, 2011, 09:04:22 PM by jgadefelth »

Offline kubo207

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Re: FirePips
« Reply #18 on: May 04, 2011, 11:11:57 PM »
kubo  as you mention the result will not be  a real 240 pips if it is devided into 3 targets.    how do we calculate the real pips  ? this is verry important  will it be 240 devided by 3 ?


Hi,

when some call has more profit targets, you have to open more orders (or at each TP close just part of one order). At Elite signals they mostly work with 3 take profits. First order you have to close at TP1 and the rest of orders set to BE. Then if the price hit TP2 or TP3 you will close the particular orders. Typicaly the TP1 is 40 pips, TP2 = 80 pips and TP3 = 120 pips. So when the order hits TP3, they claim they earned 240 pips (40 + 80 + 120). The same way they are calculating the loss, so when there was SL = 110, they should claim total loss of 330 pips.

I wouldn't say that only Elite signals are good. I find the "live" signals also good, they explain why they are taking particular trade, so it is also a bit educational. As far I understnand, some of the "live" signals are based on Candletick strategy.

So for me the main question is the price and if they can maintain the good performance. With the last call being loss of 330 pips, I am in a small loss now.

Jakub

Offline jgadefelth

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Re: FirePips
« Reply #19 on: May 05, 2011, 04:33:32 AM »
kubo  have you looked over at all result and recalculate it the way you and I would have calculated the losses ?  Maybe after that the historical performance is not so good.


best regards

Offline adele

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Re: FirePips
« Reply #20 on: May 05, 2011, 05:46:47 AM »
kubo  have you looked over at all result and recalculate it the way you and I would have calculated the losses ?  Maybe after that the historical performance is not so good.


best regards

the figures look quite high because each signal is split into 3 separate orders and they simply add up (or minus for losses) the pips for each order. to give them the credit, they also multiply the losses for full SL's by 3. but i think we can clearly see that they are using this method from their performance page.

if we wish to consider each signal as 3 orders, then we will consider the total pips count of 2950 as correct. but if we prefer to consider each signal as only 1 order, then the total pips count will only be 2950/3 or around 983 pips. how much we actually earn depends on our own risk appetite.

my main concern here is (aside from cost) BJ's remarks concerning last year's performance. sent them an email about it (also requesting for discounted subscription without having to subscribe to markets.com broker) but they avoided answering it.  :( i just wish there was some kind of re-assurance that they are no longer using the same strategy that caused the big losses last year...

at least they promised to include last year's performance stats in 3-4 weeks. thanks, keleshia! :)
« Last Edit: May 05, 2011, 09:14:28 AM by adele »

Tradenow

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Re: FirePips
« Reply #21 on: May 10, 2011, 02:13:56 PM »
second trade since start: Elite signals

05.10.2011 08:31    05.10.2011 10:05    EURJPY    Sell    0.10    115.52100    114.32100    114.82000    115.52000    -70.0   1h 34m    -4.14%    

ouch....that hurts  :(

better luck next time...

Tradenow

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Re: FirePips
« Reply #22 on: May 20, 2011, 04:25:54 PM »
i will kick this one off my account. only using elite signals so far.

realy exspensive for no signals. dont know if i had 2 or 3 trades the last 2 weeks but this is imho not enough.
2 weeks left...

best regards
mark

Offline adele

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Re: FirePips
« Reply #23 on: May 20, 2011, 04:53:12 PM »
they don't seem to be doing well this month. why is it that often whenever we signup for (or buy) something, the performance suddenly turns bad ? ??? that's what happened to me last week when i bought enigma...

maybe they can grant an extension on account of no signals sent...

Offline bjanssen

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Re: FirePips
« Reply #24 on: May 21, 2011, 12:32:16 AM »
Agreed, two trades since I signed up and both bombed.  I think I'll drop this too.  Would be happy to try it longer, but not at $300.

BJ

 

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