it seems to work . Thanks for sharing!
Sniper Forex System
- Thread starter stevespray
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it seems to work . Thanks for sharing!
centa_trading
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Hi SMS Trader Thanks for your response well thought idea about the the entry using Macd, thanks for sharing.
forexkunta
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Well, I guess everyone has their own personal confirmation tool, that they trust. Only experience with it will let you know if it is a good tool. I prefer an additional moving average for mine.
Regards,
Kent
Hey everyone, BRAND new to the sniper forex system, have been trading the GBPUSD pair for 4 days with it on demo and have made about 10% so I'm definitely liking it!
Only things I don't like are the fact you set your S/L anywhere from 50-80 pips and sometimes only stand to gain 50 pips or so. But other than that I love it. I risk 5% of what I have (calculated with the S/L) on 1:100 leverage (so if i have 5k, i risk 250 by opening .5 lot if the S/L is 50, then adjust otherwise). I like to put my S/L 5 pips more than the stop dot, or if the stop dot isnt there, the last significant high/low (when the dot isn't there I never seem to profit though) so any wisdom you guys could bestow upon me would be very appreciated!
thanks
Only things I don't like are the fact you set your S/L anywhere from 50-80 pips and sometimes only stand to gain 50 pips or so. But other than that I love it. I risk 5% of what I have (calculated with the S/L) on 1:100 leverage (so if i have 5k, i risk 250 by opening .5 lot if the S/L is 50, then adjust otherwise). I like to put my S/L 5 pips more than the stop dot, or if the stop dot isnt there, the last significant high/low (when the dot isn't there I never seem to profit though) so any wisdom you guys could bestow upon me would be very appreciated!
thanks
NVP
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forexkunta
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Hello Jorje,
Welcome to the Sniper thread. Hope you have a chance to go thru it and learn something to help you. I would suggest scaling down your trade size to a max of 3%, to help shield you from the inevitable losses that will come during non-trending markets. I also recommend setting your s/l at +10, instead of 5. I have found that thru time, if you wait to enter the trade until the stop dot appears in the proper position, you have a better chance at a good trade. Not always, but most of the time. We all have seen times that a stop out would have happened at 5 and not 10. This is a good system, hope you enjoy trading it and making money.
Regards,
Kent
Welcome to the Sniper thread. Hope you have a chance to go thru it and learn something to help you. I would suggest scaling down your trade size to a max of 3%, to help shield you from the inevitable losses that will come during non-trending markets. I also recommend setting your s/l at +10, instead of 5. I have found that thru time, if you wait to enter the trade until the stop dot appears in the proper position, you have a better chance at a good trade. Not always, but most of the time. We all have seen times that a stop out would have happened at 5 and not 10. This is a good system, hope you enjoy trading it and making money.
Regards,
Kent
Hey everyone, BRAND new to the sniper forex system, have been trading the GBPUSD pair for 4 days with it on demo and have made about 10% so I'm definitely liking it!
Only things I don't like are the fact you set your S/L anywhere from 50-80 pips and sometimes only stand to gain 50 pips or so. But other than that I love it. I risk 5% of what I have (calculated with the S/L) on 1:100 leverage (so if i have 5k, i risk 250 by opening .5 lot if the S/L is 50, then adjust otherwise). I like to put my S/L 5 pips more than the stop dot, or if the stop dot isnt there, the last significant high/low (when the dot isn't there I never seem to profit though) so any wisdom you guys could bestow upon me would be very appreciated!
Thanks a million for the tips =) I'm in the process of reading this ENTIRE thread for all the techniques and stuff, so thanks to you I now know:
3%, not 5%
s/l +10, not +5
Wait for stop dot (I was actually considering this, I'd rather lose 50 or so pips of profit every now and again rather than go into multiple losing trades)
I'll take notes on everything I read here, it seems like doing this full time could get 5-10% a week and thats MASSIVE.
forexkunta
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Another tip that I have found works in the last few weeks is putting a 21 period SMA on you chart with Sniper, and only trading when the 21sma is in agreement with Sniper. I have found that I take fewer trades but more likely to win on the trades I take. Helps to filter out the bad ones.
Kent
Kent
I see a SHMA under custom indicators, I set the period to 21 and leave the method at 3 but I don't notice anything showing up, oh also I would LOVE a better indication of when to exit, anyone got any ideas? Cuz I was just like 90 pips ahead now it's down to like 64, but I know if i close not It'll bust to more profit I could have had lol
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forexkunta
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Jorje,
The SHMA is an indicator for Sniper, change it back to it original settings. The 21 SMA is under TREND, and is labeled Moving Average. Set for 21 and color of yellow, or what ever you like.
Kent
The SHMA is an indicator for Sniper, change it back to it original settings. The 21 SMA is under TREND, and is labeled Moving Average. Set for 21 and color of yellow, or what ever you like.
Kent
I've decided to set a limit of 5% a day on my equity, I know its not the smartest thing to do because of the giant moves ppl sometimes get, but my profit got up to about 7% today, then went down to like 3% before I closed it, waiting for sniper's signal to exit isn't for me. Maybe 5% a trade but I can't imagine trading more than once on the 1 hr charts per day
With an average stop of 80 pips and risking 3%, you would probably need to make 250 pips per week profit per week to achieve 10%. This is unrealistic, there is no way sniper will average this sort of return.
If you had taken every trade according to the rules since the 1st September, you would have been up over 30% by the middle of October. A 10,000 bank would have risen to 13,142.
After a period of poor results, your bank would have dropped to 9,400 on the 12th November. Are you prepared for results like this?
Since the 1st September to date and including the current trade, you would be up 8%, so since the middle of October a loss of about 20%.
Risking 3%, you'd be up 7% since the 1st September
Most trades that go into profit will give back some, that's a fact of life. Unless you have a functioning crystal ball, then it is difficult to know the best time to exit (If you do have one - you don't need sniper
)A lot of trades go into profit and then retrace - this is when the inexperienced trader panics and closes the position. Quite often the price will almost retrace to the stop. As already posted, there have been a number of times that a sniper stop +/- 5 would have been triggered, but a +/- 10 has stayed alive. A few times these trades turn again and go on to make really high profits. You need these trades to balance out the losers.
Everything that I have seen has indicated that cutting a trade early will work against you.
Good luck
forexkunta
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Once a trade has reached 60 pips or more in profit, I set a s/l at 15 pips profit and run the sniper dot as it advances past my s/l. The reason for this is found in Gary's Money Management and Trading Psychology ebook provided with the paid Sniper Forex as quoted below.
"11. Never ever let a winning trade turn into a loser. This is a real morale killer."
Any trade that retraces back to 0 effectively becomes a new trade! If it retraces back and takes out my 15 pip s/l and goes below the 0 line, I consider it to be a new trade and can be reentered. My rule, not Gary's. That way I will always have at least a 15 pip win, and can reenter and go forward from there. Gary's rules say that a re-entry is ok if it gets back within 50 pips of the entry that was alerted. Anything in profit should always remain in profit or at least breakeven. So you give up a little on the spread, but better than giving up a 35 pips loss. Just my opinion. I think averages would be better if no trade that went to 50 pips or more ended with a loss at all. And I have seen some do that that went as high as 100 pips. What do you think? This input needs to come from traders that have purchased Sniper Forex, and use it for live trading.
Regards,
Kent
"11. Never ever let a winning trade turn into a loser. This is a real morale killer."
Any trade that retraces back to 0 effectively becomes a new trade! If it retraces back and takes out my 15 pip s/l and goes below the 0 line, I consider it to be a new trade and can be reentered. My rule, not Gary's. That way I will always have at least a 15 pip win, and can reenter and go forward from there. Gary's rules say that a re-entry is ok if it gets back within 50 pips of the entry that was alerted. Anything in profit should always remain in profit or at least breakeven. So you give up a little on the spread, but better than giving up a 35 pips loss. Just my opinion. I think averages would be better if no trade that went to 50 pips or more ended with a loss at all. And I have seen some do that that went as high as 100 pips. What do you think? This input needs to come from traders that have purchased Sniper Forex, and use it for live trading.
Regards,
Kent
2be
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One has to adapt to the current market conditions, and looking at weekly TF provides an important insight, G/U for the last several months (28 wks) has been in a tight range. It is nothing unusual, but in a range market do not expect a large runns in one direction. Profits have to be well protected, and beeing too greedy for more pips when they are not comming will not be a substitute for a winning and well adopted to the given market condition strategy. ONe way is to have a look at M30 TF and compare it to H1. Sniper in its original is a trend following system, but in the ranged market these trends are choppy, so adapt or do not trade in this markets. If one earns 40 pips risking 80+, that is not good, and eventually the acc will show it.
Saying that Sniper is a good system, but it is you that trade the instrument/s, so make sure that you get profits banked.
Saying that Sniper is a good system, but it is you that trade the instrument/s, so make sure that you get profits banked.
This is a serious discussion about Sniper Forex, please do not post as fact when it is unlikely that you have been trading in this style.
I wanted to know what you had said previously about using the MACD as I didn't remember and it was easier to search your posts than this long thread.
I was surprised at what I saw!
On October 12th your post #2044
On November 20th your post #2356
So in October you'd been using Sniper for a few months, but one month later in November you state that you've been using it for over 1 year?????
In the 1st post you've changed the settings to 55, yet in the 2nd it's sometimes 40
Your post on November 2nd #2246
So here you state that you take every signal, but you also state that you filter trades with MACD - so which one is it?
You are backtesting different variables, making them fit and then claiming that they work. I have made enough posts to prove that sniper repaints and backtesting by looking back over the charts is unreliable as the real time signals can be totally different to what stays on the charts.
We have a nice little community in this thread and welcome newcomers and any contributions that they may bring, but we do expect honesty and you do seem to be lacking in that department.
Please continue to share your experiences and ideas, but don't pretend that you've been using sniper for over a year, when it has only been a few months and don't give the impression that you are using successful ways to improve sniper when it is based on backtesting. Backtesting that has caused you to change your strategy from week to week.
What are you complaining? Are you unhappy because other people making money? I bought Sniper Forex in 2008. Used it with standart settings and always tryed to change something to get better results or to avoid false signals. Sorry for my english, I am German and thats why maybe somtimes it sound strange. In fact I tell you what I recommend, even checking the 15 min time frame is good advise even if you change settings to 55 or 40. This month I only used settings 40 with MACD and I am in profit!!! You like it or not. This treadh is to discuss thinks, but I nearly never got any responds to my posts. If you are confused, here again:
I bought Sniper Forex in 2008 used it with standart settings and had to fight with myself to keep the diszipline! Tryed to change settings and used it for some month with different settings. Now after not only testing, I trade with sniper life from the first day, because I believe you only realy can learn to trade and handle your emotions while trading life, I will stay with settings 40 and MACD 5/35/1 on 1 hour time frame only. This works very well for me. This will be my last post. Why, because there is no need to denfense myself!!! I trade sniper life and after many month of loosing and winning, dealing with my emotions I am on the winner side and trading is now my main job 5 days a week! Yes I am trading and making money for living thanks to sniper and all the experience I made.
If you don't like my post, just don't read them. This will be the last one!!!
Good trading to all of you. Sniper Forex has a great potential! Great thanks to Gary and his great support!
Holger
Ps: the profit of 650 pips is only for GBP/USD. I also trade GBP/JPY and with the last drop I am now at 780 pips profit, in total over 1400 pips !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! with lotsize 1 for each 10000 in my account!
Good buy!
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hey SXMTrader,
thanks for sharing your experience. your suggestions make a lot of sense .
