Sniper Forex System
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forexsniper
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Hey GumRai - that's alot of trades. You're doing well following all these trades. I found it too difficult to be on alert every hour.
And I think every Forex system apart from maybe 1 - 15 min scalping strategies are suffering at the moment.
Hello,
Looks like the market is moving again. Look at GBP/JPY and GBP/USD. I have setting of 40and use MACD 5/35/1 to filter false signals and it helps a lot. This 2 pairs made a profit of more than 300 pips since yesterday!!! With Sniper it is easy to catch this moves. I made one mistake in the past, after having some loosers in a row, I stopped to trade. But than the bigger moves were coming and I was not in. Than I started to trade again with smaller wins and than after the next looser and stopped because I was afraid ti loss again. And, the next bigger move came without me. Try to use MACD 5/35/1 as filter and you will have less false signals. This combination with Sniper is working good! Less loosers = more profit! Even to change the settings from the sniper lines can help depending on the market.
Looks like the market is moving again. Look at GBP/JPY and GBP/USD. I have setting of 40and use MACD 5/35/1 to filter false signals and it helps a lot. This 2 pairs made a profit of more than 300 pips since yesterday!!! With Sniper it is easy to catch this moves. I made one mistake in the past, after having some loosers in a row, I stopped to trade. But than the bigger moves were coming and I was not in. Than I started to trade again with smaller wins and than after the next looser and stopped because I was afraid ti loss again. And, the next bigger move came without me. Try to use MACD 5/35/1 as filter and you will have less false signals. This combination with Sniper is working good! Less loosers = more profit! Even to change the settings from the sniper lines can help depending on the market.
yes there is an automated sniper system available as an EA, look here:
www.tradingsystemforex.com/commercial-expert-advisors/223-sniper-forex-expert-advisor.html
forexkunta
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If you will search this thread, you will find that several people have tried to get this EA to work, but have not been successful. In my opinion, there is NOT a reliable EA that will do this for you. You can download and run, but do so at your own risk. I simply do not recommend it.
Kunta is right if you try to implement the system and then simply let it run on its own. The EA's available will not make up for the loosing trades when a big trend is coming, merely because of the settings you will have to try to limit your losses. I can know, I have been testing the EA's (back- and forward testing) on 2 systems now for months in a row; multiple pairs, 1,2,3,4 or 5 trades, TP and/or SL according to Sniper stop, enter halfway trends, exit according to other TF's etc etc. If you want security: install an EA, risk around 3% per trade and your money will be flying out the door. Guaranteed.
For myself, I have taken a completely different approach and started rewriting the EA according to my experience I have gained with the Sniper system over the past months. I've had several weekends filled with staring to blue and red lines while doing backtests. It's frustrating, very if you ask me, but it's the only way to go ahead with my current dayjob and dislike of being glued to a screen all the time.
Sniper is a good system and proven to be profitable one if you stick with it no matter what. Proof can be found in this topic. If you try to do something else than that, it's bound to be an all-time loser. Proof can be found in this topic. If you want a dime, just put in the time.
The permission is that you need to pay for access to all his EA's he has put together. Only you can help yourself with that...
There is a v2 available all over the net, even in this thread (press on the paperclip at the top of this thread to get it), but that will only bring you a certain flavor of 'security' (as described above).
has anyone tried this auto sniper system. Pls help me install with settings which just follows Gary's rules. Takes all the marked trades and nets me some money.
I also want to backtest the auto trade sniper EA (with settings provided). Pls help. Thanks
I also want to backtest the auto trade sniper EA (with settings provided). Pls help. Thanks
forexkunta
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For those of you who try to filter out the bad trades, here is a tip. Try putting a 21 period Simple Moving Average based on the close, on your chart, and only take the alerts that are in line with this sma. I have mine in yellow so that it sticks out a glance. May help some. This is a multiple of Fibonacci numbers that are used with Elliott Wave theory.
I see a few recent posts talking about back testing sniper.
Unless you have some pretty sophisticated software it would be impossible to backtest sniper accurately. Even then you would need tick by tick history data or at I minute history at least.
Backtesting manually by looking at the charts will certainly give you a false impression.
I've posted enough images to prove that repainting deletes so many signals from the chart.
Many times, for example, you are in a long position. This position is cancelled by a red arrow and a new signal given for a short. But if the market suddenly moves up, the short position is cancelled by another blue arrow and signal to go long.
So you have a losing long, followed by a losing short and then a new long position.
But refresh the charts and the 2 arrows are no longer there, so it looks like a very nice single long trade.
There was a long position signaled at 8AM GMT (9AM Alpari) 17th November. This trade hit the sniper stop at 10:45 GMT with a 66 pip loss. This trade, although valid, no longer appears on the chart.
This trade was stopped at the original stoploss, so if you risk 3% of your bank, you would have lost 3%. But by backtesting, you will not even know that this trade ever happened.
During choppy periods, there are a lot of signals that simply disappear and it is during these choppy periods that sniper performs badly. However, because so many of the bad signals disappear, it appears to cope quite well when backtesting.
Unless you have some pretty sophisticated software it would be impossible to backtest sniper accurately. Even then you would need tick by tick history data or at I minute history at least.
Backtesting manually by looking at the charts will certainly give you a false impression.
I've posted enough images to prove that repainting deletes so many signals from the chart.
Many times, for example, you are in a long position. This position is cancelled by a red arrow and a new signal given for a short. But if the market suddenly moves up, the short position is cancelled by another blue arrow and signal to go long.
So you have a losing long, followed by a losing short and then a new long position.
But refresh the charts and the 2 arrows are no longer there, so it looks like a very nice single long trade.
There was a long position signaled at 8AM GMT (9AM Alpari) 17th November. This trade hit the sniper stop at 10:45 GMT with a 66 pip loss. This trade, although valid, no longer appears on the chart.
This trade was stopped at the original stoploss, so if you risk 3% of your bank, you would have lost 3%. But by backtesting, you will not even know that this trade ever happened.
During choppy periods, there are a lot of signals that simply disappear and it is during these choppy periods that sniper performs badly. However, because so many of the bad signals disappear, it appears to cope quite well when backtesting.
forexkunta
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Not above and below, but when the alert is given short and the 21sma is pointing down, and vice versa...
This is something for you to look at and use at your discretion.
forexkunta
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GR,
That long you are referring to on your chart, by your chart was never a valid long alert, the bottom trendline was still red, so the alert was not valid, and would not have been taken. So, really, looking back on my chart, that alert is not present, and the short went valid a few bars later, so the results would have been the same, whether the long was present then or if it was there now. But rest assured that the trendlines and histogram on my chart now is the exact same right now, as yours was on the 17th, without the arrow. But the trade results would have been the same, no long alert taken as a trade.
Regards,
Kent
That long you are referring to on your chart, by your chart was never a valid long alert, the bottom trendline was still red, so the alert was not valid, and would not have been taken. So, really, looking back on my chart, that alert is not present, and the short went valid a few bars later, so the results would have been the same, whether the long was present then or if it was there now. But rest assured that the trendlines and histogram on my chart now is the exact same right now, as yours was on the 17th, without the arrow. But the trade results would have been the same, no long alert taken as a trade.
Regards,
Kent
I told you to use a MACD 5/35/1 to filter bad trades. I am using Sniper for over 1 year and this is helping a lot and it is easy to see. Just look for a cross of the zero line for up or down trend. I also change sometimes the sniper setting from 30 to 40. Any respond?
Holger
Holger
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centa_trading
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hi SXMtrader can you explain why 5/25/1 settings on macd dont you find thats getting you into the trades to late, also do you only enter at the cross of the zero line with these settings ie ignore what sniper is telling you ?
What does changing the setting from 30-40 on sniper actually do plz can you explain.
Thanks
What does changing the setting from 30-40 on sniper actually do plz can you explain.
Thanks
greenfield
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Hello forexhunta/Kent,
I think that GumRai is correct. Note that the screenprint was not taken at the time of the trade, but about 20 hours later. I clearly didn't take a screenprint at the time, but I would suggest that all 3 indicators showed blue, but re-painted later on. The reason that I'm sure of this is that I took this trade. OK, I make mistakes, but I think that on this occasion, GumRai and I are correct. It's rare for this to happen – for all indicators to give a trade, followed by one of the indicators re-painting. But it happens from time to time.
The latest with my TP experiment: Ref.: post#2314 Looking at optimum TP trades, I've been taking out a 'parallel' trade (alongside a trade letting it run its course as per the rules) split into 3 with TP 115, 135 and 160. It's early days; also we obviously haven't had many trades recently where we've reached this level (!!). The short closing Thursday evening (GMT) worked well with all 3 TPs closing, against 99.2 pts letting it run its course (at least that's what I made). Today's short = TPs 115 and 135 closed, not TP160.
SXMTrader – if you can give us some comparisons between the results you're getting against the official Sniper results, that would be very useful.
Bye,
I think that GumRai is correct. Note that the screenprint was not taken at the time of the trade, but about 20 hours later. I clearly didn't take a screenprint at the time, but I would suggest that all 3 indicators showed blue, but re-painted later on. The reason that I'm sure of this is that I took this trade. OK, I make mistakes, but I think that on this occasion, GumRai and I are correct. It's rare for this to happen – for all indicators to give a trade, followed by one of the indicators re-painting. But it happens from time to time.
The latest with my TP experiment: Ref.: post#2314 Looking at optimum TP trades, I've been taking out a 'parallel' trade (alongside a trade letting it run its course as per the rules) split into 3 with TP 115, 135 and 160. It's early days; also we obviously haven't had many trades recently where we've reached this level (!!). The short closing Thursday evening (GMT) worked well with all 3 TPs closing, against 99.2 pts letting it run its course (at least that's what I made). Today's short = TPs 115 and 135 closed, not TP160.
SXMTrader – if you can give us some comparisons between the results you're getting against the official Sniper results, that would be very useful.
Bye,
Hi Kent,
As Greenfield has already posted, the trendlines at the time of that trade did confirm. I had had sniper running for some time and had a feeling that it would repaint when refreshed, that's why I took the screenshot.
Hello Centa Trading,
The reason for the MACD 5/35/1 is to filter bad trades. In back testing you can see that you have some trades where you enter a little late, but it is better than having to many loosing trades. But also the MACD is very often crossing the zero line the same time you get your sniper signal. The differents between the 30 and 40 is you get less signals, but you stay longer in a trend. Set up 2 charts, one regular, the second with MACD and 40 and compare. With 30 somtimes you close a trade to early, because you get an opposite signal, which than is a false one, and you enter again later with a new signal the same direction like before. MACD 5/35/1 helps to see bad trades and the 40 can help to stay in a trend longer. You have to compare your charts over the weekend to see. GBP/JPY and GBP/USD.
