Sniper Forex System

[forexkunta]

That sorts the men from the boys.
Well done Kent, you've got totally the right attitude. Focus on the fact that you made 500 pips and not dwell on the 400 that might have been.
You're never going to get out with maximum pips and you can accept that - good for you :clap:

GR,
Actually trading corrections can be a little tricky, so getting out with 500 in my opinion is maximum pippage. I am not by any means complaining, a gain is a gain for a week no matter if it is 50 or 5000. I do actually think that I over traded this week, and took some trades that I should have stayed out of. But, trade and learn.
I also was waiting on Sniper to signal for the exit, and then we had the GDP news release and lost pips really fast. But, 500 was a great month, for a lot of people, so in a week, well.....
I am grateful for the gain.
Now, for the future, I will be setting profit targets via EW theory and Fibonacci projections taught at EW International. You would be amazed how accurate the projections can be.
Hope everyone has a great weekend and a great week trading next week.

Regards,
Kent

 

[wembleyboy]

Little bit off topic.

Currently using sniper on MT4 with Alpari ....is there anyway to use Sniper on Gold or crude Oil at all ?

If there is a way....have you had any sucess at all ??

 

[salvadorveiga]

wemble... FxPro offers it... yes there is success it depends if they're trending or not although i would not advise below 1H charts at all....

On other news, be sure to check Tuesday on AUD... I'm expecting the Central bank of Australia to raise interest rates again so this should be positive to AUD i believe. I think either this month or the next interest rates will be risen.

 

[2be]

Make sure that the sniper's scope is well maintained, no point pulling the trigger without aiming.
This could be an eventful week.
Happy trading to all,
2be

 

[fx_eagle]

goooood morning everyone

hi guys,

I'm back from a small trip to europe.

hope all close the last month in green territory!

Kent good job

for me I close this month only at a small winner, coz i miss some trades as I was on the trip.

I let run a backtest at my vps, need long time 4 days , for the sniper H1 from jan-oct 2009, bad result

this EA trade only at close candle and close trade if reverse signal come, mean one of the sniper lines change color, if all condition confirm again then trigger the Trade again at close candle. Lotsize 0.1 lot for all trades

see the pics for the results

 

[SXMTrader]

Hello,

I am using the manuel system of sniper on 1 hour. As soon as I get a signal I take it, now I am switching to 15 min chart to watch the trade. As soon as I get a signal on 15 min against the 1 hour trend I am out and reenter as soon as I get another signal in the direction of the 1 hour. I am following like this until the trend on 1 hour is changing to the opposite. Any experience or comments for this?

Holger

 

[mpat89]

does anyone use the sniper forex EA v3 with success? how closely does it allow you to follow the system as you're supposed to with manual?
i have the indicators but no time to enter the trades as im usually busy, but i leave my metatrader open and look at the charts and its clearly profitable so i would like to use it if there is an ea available that does the job!

on a side note, do any spread betting providers offer metatrader so as to make fx tax free?

 

[fx_eagle]

does anyone use the sniper forex EA v3 with success? how closely does it allow you to follow the system as you're supposed to with manual?
i have the indicators but no time to enter the trades as im usually busy, but i leave my metatrader open and look at the charts and its clearly profitable so i would like to use it if there is an ea available that does the job!

You read my post and study the pics ? then you know or?

on a side note, do any spread betting providers offer metatrader so as to make fx tax free?

is only tax free for uk citizen!, ah I see you in UK ok

cheers

 

[greenfield]

.........I am using the manuel system of sniper on 1 hour. As soon as I get a signal I take it, now I am switching to 15 min chart to watch the trade. As soon as I get a signal on 15 min against the 1 hour trend I am out and reenter as soon as I get another signal in the direction of the 1 hour. I am following like this until the trend on 1 hour is changing to the opposite. Any experience or comments for this?

Holger

Hello SXMTrader/Holger,
That looks like it could be a useful way to operate Sniper. It would really be good if you could keep us up to date with the results, ideally with a comparison – what if the trade had run its course on the 1HR chart. That would be interesting to see over a period of 1 or 2+ months.

 

[mpat89]

Well then it's obvious, we have to trade in the opposite direction to the system

 

[salvadorveiga]

AUD central bank raised interest rates eheh, and while the last time it shoot up the audusd this time it didn't... why? Because of the wave structure....

 

[salvadorveiga]

does anyone use the sniper forex EA v3 with success? how closely does it allow you to follow the system as you're supposed to with manual?
i have the indicators but no time to enter the trades as im usually busy, but i leave my metatrader open and look at the charts and its clearly profitable so i would like to use it if there is an ea available that does the job!

on a side note, do any spread betting providers offer metatrader so as to make fx tax free?

well if you have time constraints, use bigger timeframes.... that's what I do. I was using 4H charts and switched them to 8H now... only have to check 3 times a day - when i go to bed, when i get up and late in the afternoon...

cheers

 

[RuMouR]

well if you have time constraints, use bigger timeframes.... that's what I do. I was using 4H charts and switched them to 8H now... only have to check 3 times a day - when i go to bed, when i get up and late in the afternoon...

cheers

Switching to bigger timeframes has greatly reduced the amount of trades, the whipsaw and the time that you have to be glued to the screen. It does increase the length of your trades, the pairs you can watch (to defer risk) and the time you stay in paper losses, so be a little bit prepared for that. Now let's see if it increases the profit and the ratios in a positive way.

It get's quite boring when you have traded 1H before, which I find a good thing if you want yourself to stick with a system.

 

[forexkunta]

AUD central bank raised interest rates eheh, and while the last time it shoot up the audusd this time it didn't... why? Because of the wave structure....

Yep, that wave count says everything. Absolutely the most amazing thing I have ever seen in the financial world.
I personally have decided to set profit targets on wave 3 and 5, using Fib projection, which is extremely close, instead of wading through wave 4, with the profit reductions that come with it. I should get more bang for my pip that way. Just something I want to try.
Kent

 

[salvadorveiga]

Switching to bigger timeframes has greatly reduced the amount of trades, the whipsaw and the time that you have to be glued to the screen. It does increase the length of your trades, the pairs you can watch (to defer risk) and the time you stay in paper losses, so be a little bit prepared for that. Now let's see if it increases the profit and the ratios in a positive way.

It get's quite boring when you have traded 1H before, which I find a good thing if you want yourself to stick with a system.

yes the drawdowns in terms of PIPS are bigger of course... but in terms of % equity they can remain the same... you just have to adjust the size of your positions accordingly, since you have to give more room for the trade to breathe...

in terms of expectancy and ratios, they should be around the same, the variable is the opportunity cost.

While a system with 0.60 USD expectation on the 1H may give you 600 trades per year let's imagine, there fore you will win in expectancy for the year 0.6*600 = 360 usd per dollar risked per year.

While a longer time frame may only issue 200 trades per year therefore only 120 USD per year per dollar.

In terms of expectancy it's the same, if we were in a unlimited time world either one would be equal... but we're not. now it's rather a personal choice, do you prefer more whipsaw, prone to errors, spend time at PC, or still being able to compound profits in a more calmer way ? (of course profits may be slight less, but in opposite this way you are less stressfull and most likely more prone to follow the plan which is what matters)

 

[salvadorveiga]

for those wanting to know what stop is...

try this indicator...

i think it may be this one, just a matter of playing with the Kv (multiplier) and the period (my guess is it's period 14) and multiplier 3

 

[fx_eagle]

result for october

hi friends,

I forgot to check the sniper result on the website, wow 606 last month,

some one near that result? I hope so.

for myself I make a trip to europe and loss sometimes the info, can not have both

but now this month , hope we again good results after 4 false signals I close my last long trade at +160, I see here a resistance and will first banking pips for I have green numbers and see what is going on.

cheers

 

[fx_eagle]

beer for all

for me and all my posting number 100, haha

cheers

 

[mpat89]

well if you have time constraints, use bigger timeframes.... that's what I do. I was using 4H charts and switched them to 8H now... only have to check 3 times a day - when i go to bed, when i get up and late in the afternoon...

cheers

How do you switch the graph to 8H? I'm on 4H atm, can't figure out how to make it 8H? Please help!

 

[Hooya]

for those wanting to know what stop is...

try this indicator...

i think it may be this one, just a matter of playing with the Kv (multiplier) and the period (my guess is it's period 14) and multiplier 3

Thanks will give it a try.