FAQ

This page is a list of frequently asked questions (FAQ) regarding PipHut’s free forex signals.

If you are looking for more of a “what does this signal mean, how do I use it” breakdown then head over to our page entitled “How to use PipHut’s free forex signals“. If you have a question please check this list to see if it has already been answered. If not feel free to ask your question in the comment box at the bottom of this page.

Frequently Asked Questions regarding our free forex signals:

1) How do I use this? What does the term XYZ mean?
2) How do I get signals for other pairs besides EUR/USD?
3) Can I pay for more signals for more pairs?
4) How big of a stop-loss should I use? How big of  a stop-loss do you use?
5)  How long are your signals valid for?
6) When do the signals come out?
7) How do you determine your support/resistance levels? My support/resistance levels don’t match yours.
8) How do you determine your fibonacci levels?
9) What indicators do you use?
10) What timeframes do you use?

1) How do I use this signal? What does the term XYZ mean?

I wrote a full article on how to use the free signals here. It also covers other ways traders use the signals (there are multiple ways). I also breakdown an example signal and how to interpret it. If you are confused about what a specific word means head over to the forex signals glossary here. If it is not in the glossary then ask in the comment field at the bottom of the signal.

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2) How do I get signals for other pairs besides EUR/USD?

I currently only send out my signals and analysis for the EUR/USD. I do an analysis for other pairs but due to time constraints only publish the EUR/USD analysis.

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3) Can I pay you for more signals/pairs?

No, at this time PipHut only offers free forex signals and only for the EUR/USD.

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4) How big of a stop-loss should I use? How big of  a stop-loss do you use?

The answer to this question depends on your trading style, your goals, your account, your margin, etc. etc. etc. Every trader’s situation is unique and there are no cookie cutter answers. I recommend you read two articles: the first is how to use PipHut’s free forex signals here, the second is on money management here. Combine those two articles and you should get a good idea of how you can apply solid money/risk management techniques to your own trading style using PipHut’s analysis.

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5) How long are your signals valid for?

It depends on the signal but generally for at least 24 hours (until the next signal comes out). The exceptions are when certain key technical/fundamental aspects change. For example if I am bullish above 1.000 and the price breaks that level then the technical picture has changed and I am no longer bullish (just an example). Or if bad fundamental news comes out and it changes the market sentiment of a pair.

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6) When do the signals come out?

Signals generally come out between 4-6a GMT.  The time a particular signal came out is at the top of each signal. Unless otherwise noted I try and keep all times on this site are in GMT.

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7) How do you determine your support/resistance levels? My support/resistance levels don’t match yours.

With my eyeballs. Seriously, there is no formula, no indicator that crunches out the levels for me. Which is why mine/yours might not match up exactly. For a complete write up on my support/resistance levels see this article: “Learn Forex: Support/Resistance levels“. The smallest timeframe I use to determine support/resistance is 1h.

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8) How do you determine your fibonacci levels?

First off fibonacci is a self-fulfilling trader “prophecy” – meaning it works because lots of traders look at them and think that they work. With that in mind here are some quick and dirty rules I use to determine my fibonacci levels:

1) first off I only use the three major levels – 38.2%, 50% and 61.8% – because those are the levels most other traders look at.
2) the larger the timeframe, the better. This means 1h and above.
3) I connect the highs/lows, NOT the close/open (so the tips of the wicks, not where the body starts/stops)
4) the more obvious the high/low the better. This means there has not been a major correction in the middle of a high/low. For example, open up a daily chart and look at 10/2/09 – 10/26/09. That whole time period is one steady uptrend. It is obvious where every trader should place the high and the low. And because Fibonacci is self-fulfilling the more obvious to everyone the better, right?
5) Connect those highs/lows. You are done.

See how from the bottom (0% – bottom yellow line) to the top (100% – top yellow line) there is very little in the way of correction or retracement? It is obvious what the high/lows are in this scenario and that is when fibonacci works best. And, what do you know? We got a great bounce of the 38.% retracement level for 90+ pips!

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9) What indicators do you use?

I try to use no indicators. Occasionally you will see the ATR at the bottom of chart for gauging volatility (though I rarely actually look at it) and fibonacci retracements. That’s it.

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10) What timeframes do you use?

I primarily use the 1h and 4h charts. Occasionally I dip into the 30m for an entry point, and I regularly check the daily, weekly charts for a better view on an up or downtrend. But 90% of the time I ues the 1h and 4h for my analysis and my entry/exit points

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