My Sniper Forex Journal

[T.F.B.]

Well done Elefteros,
Nice trading, the thread like this one helps me to receive more information and experience concerning live trading. Thank you for sharing. I have a few questions. 1- Can you give me a link to the indicator or system you use where I can read more about it? 2 - What stop loss according to your experience using this system is optimal?
Best Regards,
Soondoock

 

[Vaco]

Hi Soon,

I use a sl of 40 pips and then trail when in profit. the indicator is called Sniper Forex and you can google if you like but i dont wish to put up links here, I have found it in a couple of places. try typing sniper forex v2 as well as it brings up different results.

 

[Vaco]

closed eurusd for +89

 

[Vaco]

long again on eurusd

 

[Vaco]

out for nothing on this one.

 

[Vaco]

short usdchf

 

[Vaco]

long on gbpusd as well now

 

[Vaco]

out of usdchf for + 36 and gbp usd for + 38

 

[trendie]

hi Elefteros,

Are you live with this?
Whats your assessment of Sniper with regards the number of trades triggered, and pips made against pips risked?
You are using 4-hr charts, but it seems to me that the kinds of pips youre making are not a big enough proportion of the 4-hr bars. Are you using manual exits?

Thanks for keeping your journal, and hope you had a good month with it.
Do you have any stats for May?

 

[Vaco]

hi Elefteros,

Are you live with this?
Whats your assessment of Sniper with regards the number of trades triggered, and pips made against pips risked?
You are using 4-hr charts, but it seems to me that the kinds of pips youre making are not a big enough proportion of the 4-hr bars. Are you using manual exits?

Thanks for keeping your journal, and hope you had a good month with it.
Do you have any stats for May?

Trendie,

Yes I am live with this on a micro account. trying to do the money management part by the book so only trading 0.02 lots 40 pip sl averages about £5 per losing trade or 2.5% of starting capital will be moving up the stakes soon.

The bounce plays i'm making have been very good, pips gained will vary depending on how you trail your profit. I am using the sniper stops on lower timeframes for mine i've tried 1h 15m and 5m charts smaller timeframes obviously get you out quicker with the bulk of the move up to that point banked, downside is you miss out on the multi day trends like we have had last few days.

trailing stop is a very personal choice with no right answer imho. If i'm starting with a 40 pip stop i dont like the trailing stop to then be 100 pips + but each can make up their own mind.

Over 6 pairs triggers are often enough, I've also been taking trades when sniper signals and using the sniper stop as the target with mixed results but have not posted the trades up.

may has been good, stats below

Gross Profit: 192.88 Gross Loss: 97.15 Total Net Profit: 95.73
Profit Factor: 1.99 Expected Payoff: 1.77
Absolute Drawdown: 9.72 Maximal Drawdown: 26.93 (11.78%) Relative Drawdown: 11.78% (26.93)

Total Trades: 54 Short Positions (won %): 32 (46.88%) Long Positions (won %): 22 (59.09%)
Profit Trades (% of total): 28 (51.85%) Loss trades (% of total): 26 (48.15%)
Largest profit trade: 32.27 loss trade: -10.50
Average profit trade: 6.89 loss trade: -3.74
Maximum consecutive wins ($): 7 (23.40) consecutive losses ($): 5 (-26.14)
Maximal consecutive profit (count): 42.19 (3) consecutive loss (count): -26.14 (5)
Average consecutive wins: 3 consecutive losses: 2

or for those that prefer a chart

 

[jangroom]

Sniper Variations

I recently followed a link posted on TW2 for Sniper and downloaded a variation on the original system. It consists of the Sniper exe file broken into 3 individual exe files a Buy & Sell indicator which appears to be a front end for the ADX indicator attached and an Expert trading advisor also attached. Has anyone else loaded these files and traded wih them particulary in respect of the EA the variables can be adjusted but I dont know if they are relevant to the current version of Sniper /v2. Gary I believe hasent written an EA for Sniper and the codeing dosent appear attributable to him.

Simon

 

[Vaco]

I recently followed a link posted on TW2 for Sniper and downloaded a variation on the original system. It consists of the Sniper exe file broken into 3 individual exe files a Buy & Sell indicator which appears to be a front end for the ADX indicator attached and an Expert trading advisor also attached. Has anyone else loaded these files and traded wih them particulary in respect of the EA the variables can be adjusted but I dont know if they are relevant to the current version of Sniper /v2. Gary I believe hasent written an EA for Sniper and the codeing dosent appear attributable to him.

Simon

this might be better off in the main sniper thread as i'm not currently trading sniper as it was intended.

Also there are many that are subscribed to the sniper thread that may not be following my journal.

Thats not to say that your input is not welcome here just that you might want to put it there as well.

 

[Vaco]

short eurusd

 

[Vaco]

short eurusd

stopped out -40

 

[Vaco]

Going back to work tommorow so back to placing limit orders in the morning and comeing back in the evening to see whats happened. As I won't be trailing my profits so closely I expect the no of losers to increase slightly but also my winners to get larger again as they have more room to move.

I'm thinking of using profit targets to get me out of trades but undecided at the moment.

Will not be updating the journal with every trade as i wont be here when they trigger and there's nothing new about the entries from what's already in the journal.

 

[Amigo1]

What were the results in june?

 

[Vaco]

What were the results in june?

Did not trade properly after that last post, had a rough time at work and I was working 15 hour days, ventured off of plan and tried to trade on the 5min chart on my days off (disaster). have changed my role at work to improve my work life balance and be able to trade the way I want.

anyhow not to shy away from the question may results below

Gross Profit: 104.53 Gross Loss: 93.21 Total Net Profit: 11.32
Profit Factor: 1.12 Expected Payoff: 0.22
Absolute Drawdown: 0.00 Maximal Drawdown: 50.33 (16.56%) Relative Drawdown: 16.56% (50.33)

Total Trades: 51 Short Positions (won %): 30 (43.33%) Long Positions (won %): 21 (52.38%)
Profit Trades (% of total): 24 (47.06%) Loss trades (% of total): 27 (52.94%)
Largest profit trade: 18.89 loss trade: -5.66
Average profit trade: 4.36 loss trade: -3.45
Maximum consecutive wins ($): 7 (24.39) consecutive losses ($): 7 (-27.51)
Maximal consecutive profit (count): 24.39 (7) consecutive loss (count): -27.51 (7)
Average consecutive wins: 2 consecutive losses: 3

 

[GumRai]

I guess that you have not been trading lately?

 

[AcuteAngle]

Funny, I was just about to post and ask Elefteros how it was going. Enjoyed reading through this.