Welcome to FirePips! We’re glad to have you on board with us. Spend a few minutes going through this guide to understand our signals and related tools.
Step 1: Install
Along with these two options we will also send emails for every alert via a reliable third party company. It is important that you white-list our email addresses to make sure email doesn’t end up in spam/junk folder. To do that add firstname.lastname@example.org and email@example.com to your contact list:
Step 2: Understand
The final and most important step is to understand various alerts and how to interpret them. There are total 3 types of alerts:
EURJPY 8Hr/Daily Buy Zone:110.50 Sell Zone: 111.00
This alert notifies the current Buy and Sell Zone of a pair on either Daily or 8hr timeframe. We draw these lines on our charts (FirePips indicator draws them automatically for you) and then wait for the price to breakout. Once the breakout occurs and it conforms with our momentum analysis, we then call the actual trade and send a signal alert.
ID:1 EURJPY Daily Buy: 110.10 SL: 30 TP: 60 Pips
This is the actual signal, 110.10 is the price where you will create a pending/limit order. Once the market reaches the entry price the trade will execute. Note this is not a market order. Stop Loss and Profit Target are self-explanatory.
What happens if you miss the trade? It depends on where the price is currently.
If the price is beyond the entry point in favor of the signal then wait for the price to come back to entry level.On the hand if the price reached the entry price but then retraced, in that case you can enter trade at market price. Keep the same Stop Loss and Profit Target regardless of actual entry price on your platform.
Once the signal is sent following updates alerts are sent depending on the outcome.
ID:1 EURJPY Daily Buy: 110.10 Target Reached at +60 Pips
Profit Target reached.
ID:1 EURJPY Daily Buy: 110.10 Stopped at -30 Pips
Trade hit Stop Loss.
ID:1 EURJPY Daily Buy: 110.10 Move Stop Loss to Break Even
Move price to entry point (110.10 in the example above)
ID:1 EURJPY Daily Buy: 110.10 Pin Bar, Closed at 110.30
Pin Bar has occurred, a sign of lack of momentum. Close trade immediately. We mention the price we were able to close at in the alert.
ID:1 EURJPY Daily Buy: 110.10 No Fill, Cancel Order
Price failed to reach entry point, cancel pending order.
Step 3: Dig Deeper
Though not necessary but it is a good idea to read FireZone strategy to understand why we trade the way we do. We have spent a great deal of time explaining the concepts behind our signals.
Once you have gained the basic knowledge head over to the Dashboard. This page contains FireZone levels for your reference just in case you missed out on the alerts. It also shows the current market trend of various pairs and our Stop Loss and Profit Targets.
Along with this information you will also see analysis for AAA. We mark all the important levels on each chart and post it there daily.
That’s all there is to it.
Welcome once again, we look forward to trading with you. Wish you the best !