Sniper Forex System

[forexkunta]

Well, the last thing I want to see on this thread is finger pointing and bad feelings, so let's all try to be adults and be honest about our posts. This thread is dedicated to a very good system for trading Forex, and the goal is to have something that someone can come to and learn to be profitable. Let's try to keep the thread in a positive, and maybe we can all learn from things that are posted. Yes, it is very hard to separate the wheat from the chaff, and know what is good and what is not working, however, as Greenfield has shown, the system as it is spelled out by Gary, is profitable. Each person's way of validating a trade may be different, but that person knows whether it is profitable or not, and posting a suggestion, that is not profitable only hurts others. We have a great community here, and it is growing every month that goes by, and it would be nice to keep it that way. Too much negativity will only serve to kill the thread. The people that have been here for a while knows from experience what works, and what doesn't. I personally, have been jumping around lately, have missed some good trades, and at the present, am down for the month. That is my fault, for if I had been trading the system on gbp/usd and gpb/jpy the way it was intended, I would have caught the last 700 pip move on gbp/jpy, and would now be in profit this month, and that is not even taking in to account the profit on gbp/usd, that would also have happened. I prefer to catch fewer alerts, and larger trends, so I am trading Sniper on 50. From backtesting, it should be profitable, and for the foreseeable future, I am willing to find out on my live account, if that is indeed the case. I know that is not something that GumRai likes to hear, but that is what I am basing my finding on. That is my personal preference, and with moves like this week, I would be fine. I am not complaining about the 200 pips profit for the week, just want to find out if that will continue, with fewer trades and maybe less profit, but more winning trades and less chaff. Time will tell. Good trading to all, and I hope everyone can find a way to profit here with the discussions that have occurred in the past and into the future. Remember, Sniper is a profitable system as is. Some months are less so, and others more so. The key, shown by Greenfield, is nothing more than being consistant. I strive to have his discipline, and I think if everyone were to be disciplined like him, no one would be complaining about profits.
Regards,
Kent

 

[GumRai]

Hello Kent,
I wouldn't say that I am opposed to backtesting, I'm just opposed to people looking at the chart history for a few weeks, seeing something that appears to work and claiming that they've had success with it for some time.
I would just advise anybody who is backtesting, that if they try it live, that they duplicate conditions, ie only enter at the close of a candle.

 

[Rolf_Germany]

Hello Everybody,

this is Rolf from Germany. I was a little bit surprized when I found this thread about Sniperforex, because its so long and so detailed, I think there is nothing else like this in the internet.

Since more then one year almost 300 pages about Sniperforex - thats really a lot of stuff.

So first I want to congratulate to this thread, but I am still surprized because I used Sniperforex in a Trial.

This summer the market on GBP/USD ranged since June and the time was a little bit boring for me, because my own handmade trading strategy said most time that its better to do nothing. I stick on this pair since the year 2001, and I stick on my own trading strategy since 2002.(only a combination of three free avaiable indicators and selftmade rules, no great thing)

The summer was boring with GBP/USD.

So I often looked around in the internet and found again many many Forums, and many many "Get-Rich-in-few-months-EAs". Its sometimes funny to read these webpages with pictures of actors and phantastic names. When I started with Forex in 2001 after more then ten years trading shares, we had an almost clean world in Forex, but today there is so much funny trash.

Well, while looking around I found ProFX and much later I found Sniperforex as the two manual systems, which were interesting first. What the hell are these guys selling for so much money was the question which interested me. First I had a look at ProFX in August(the dollar was cheap, so I bought it), and later I registered for a Sniperforex-Trial-Week on November the 3rd, 2009. I installed it and started trading the next day - following exact the rules for one week (5 trading days).

The result: The Sniperforex-Trial was free, but I paid indirect because of losing real money in that week, and free Trial is only one week. For ProFX i had to pay, but it was profitable when I used it in August/September with real money.

But I dont think that it makes sense to buy any system. Save Your money and use Your own brain.

I did not like Sniperforex because of many alerts which disappeared from the chart later, and I dont believe the results on the suspicious website of the seller, and for a package of free avaiable indicators its too expensive in my opinion.

Question:

-Are here REAL LIVE TRADERS of Sniperforex who can show their own results month per month in a table after follwing EXACTLY the rules of the system?

 

[dervishtanz]

Hi Guys,
Just wanted to introduce myself. I've been using and testing Sniper on-and-off for about a year now. Admittedly it's been more off than on as I've been preoccuppied with other work and family commitments. However, now I'm looking to really make a go of things. It's really good to have found a quality forum about Forex Sniper. Although Gary's very prompt at answering questions he's also quite succinct with his answers and often holds his cards to his chest regarding some of the finer details/problems of trading the system that I've asked about. But's that all fine and I've found the system to be very good overall.
Like everyone else it seems, I've been looking at ways to really qualify the entry points and avoid those periods of sideways ranging and retracement. Thanks to Forexkunta for the suggestions regarding using 21 SMA and using the sniper stops to further qualify a trade. I've now got the 21 SMA on my chart and will monitor both moving forward. I've also using trendlines and 5 10 and 20 MA on larger timeframes to get a better idea of general direction.
I find the one big thing me is having cast iron trading plan right down to knowing what do if the power goes off! And also overcoming my own psychological blocks. But that's a work in progress!
By the way, and apologies if this has already been covered elsewhere, does anyone know what the Sniper Trend A and B lines represent. Trend A looks like it's a volume based indicator but it doesn't seem to relate directly to the standard MT4 volume indicator when I run them side by side on the a chart.
Anyway, thanks and happy trading.
Dervish

 

[Rolf_Germany]

l
By the way, and apologies if this has already been covered elsewhere, does anyone know what the Sniper Trend A and B lines represent. Trend A looks like it's a volume based indicator but it doesn't seem to relate directly to the standard MT4 volume indicator when I run them side by side on the a chart.
Anyway, thanks and happy trading.
Dervish

Trend B is a simple Parabolic SAR in an other design, when the Parabolic SAR would show up, the Sniper Trend B is blue, when the Parabolic would SAR show down, the Sniper Trend B is red.

 

[dervishtanz]

Trend B is a simple Parabolic SAR in an other design, when the Parabolic SAR would show up, the Sniper Trend B is blue, when the Parabolic would SAR show down, the Sniper Trend B is red.

Thanks for that!

 

[trendie]

I am posting my Sniper variant for your perusal. (not trading the afternoon)
Mainly posting because I think you guys should be making more than just 20 pips a day average, and also you should be experiencing less drawdown.

I suspect Gum Rai will be the hero to test this out, as his meticulousness to testing detail and number-crunching is to be envied. Either way, hope you can get something out of my doc.

 

[alan5616]

I am posting my Sniper variant for your perusal. (not trading the afternoon)
Mainly posting because I think you guys should be making more than just 20 pips a day average, and also you should be experiencing less drawdown.

I suspect Gum Rai will be the hero to test this out, as his meticulousness to testing detail and number-crunching is to be envied. Either way, hope you can get something out of my doc.

Thanks for this helpful suggestion Trendie. Like you, I prefer the 15 min tf in order to keep the SLs lower. The 120 HMA is too high for my personal preference but, I'm sure that we will all make some slight adjustments/additions, to Sniper, which will be compatible with our individual style of trading.

I've added a channel which consists of 2x 50 HMAs. First one set to Open, second to Close. In addition to this, I've added an RSI (9 period) with an 9 EMA on top of it. These additions help filter out some of the less productive Sniper signals.

As you said, making 20+ pips per day is fine but, with the choice of currency pairs available, there is, usually, one, each day, that will make a sizeable move. A profit of 40-50 pips a day is a realistic target.

 

[jaspertrademaster]

alan5616, I agree with your target numbers.

 

[2be]

Thanks for this helpful suggestion Trendie. Like you, I prefer the 15 min tf in order to keep the SLs lower. The 120 HMA is too high for my personal preference but, I'm sure that we will all make some slight adjustments/additions, to Sniper, which will be compatible with our individual style of trading.

I've added a channel which consists of 2x 50 HMAs. First one set to Open, second to Close. In addition to this, I've added an RSI (9 period) with an 9 EMA on top of it. These additions help filter out some of the less productive Sniper signals.

As you said, making 20+ pips per day is fine but, with the choice of currency pairs available, there is, usually, one, each day, that will make a sizeable move. A profit of 40-50 pips a day is a realistic target.

Trendie's and Alan's posts are very useful and one will do well to study them and see the reason behind using HMAs in this way. This is the most important part of sniper set up, or whatever else one wants to call it.
Basically, this allows one to trade intraday taking into account the important principle of market structure and TF gearing. As in every strat, there will be some loosing trades and one needs to be desisive in taking small losses, at the very least one knows rather quickly when this is necessay, on the other hand it allows the winning trades to be continued possibly using trailing stop, or other filters.
Wishing you all a great and restful weekend,
2be

 

[forexkunta]

I am posting my Sniper variant for your perusal. (not trading the afternoon)
Mainly posting because I think you guys should be making more than just 20 pips a day average, and also you should be experiencing less drawdown.

I suspect Gum Rai will be the hero to test this out, as his meticulousness to testing detail and number-crunching is to be envied. Either way, hope you can get something out of my doc.

Paul,
I ran into this document a few months ago on donnaforex.com Sniper thread, and I think it will add some relevance to your post. It does suggest places to take profit, and both makes a lot of sense on entry's. Only problem for me, I don't trade full time, and it could be as long as a few hours after the alert before the pull back that you discuss. So alot of times I just say to heck with it and take the entry as specified, and let the drawdown happen, and go forward. That drawdown at times can be a little hair-raising, but for the most part, that full stop loss very seldom gets hit. And when it does, it usually is not a life changing event, due to proper money management. I thought everyone should see this document about 15M t/f, and may give some pointers for take profit. I did not author this document.
Regards,
Kent

 

[GumRai]

Thanks Trendie and Kent,
interesting stuff

Well a few good trades recently have rescued Sniper and it has managed to get into profit for the month. With only 1 trading day left in November, lets hope it stays that way.
I have made every effort this month to record every trade as precisely as possible and so if Gary posts results very different to my records, then I will want to know how.
To be honest, trading with sniper is just too exhausting! November has proved that to me.
The lack of proper alerts when all conditions are met require too much time in front of the computer screen.
I will no longer be recording entries on the H1 time frame. I believe that sniper is a good system, but when I was trading with real money in September and October, I lost! Simply because I wasn't at my computer for 16 hours a day and just missing 1 winning trade can easily turn a positive month to negative.
I like very much some of the points in the docs posted by Trendie and Forexkunta. I will now be moving to the H4 timeframe and use sniper in conjunction with my own analysis. I don't anticipate too many trades, but I will post them as I see them.

I will post an update of November's results soon. At the moment it's plus about 180 pips, but less than 3% of the bank. Again, missing 1 important trade would turn the small profit into a loss!

 

[GumRai]

I am posting my Sniper variant for your perusal. (not trading the afternoon)
Mainly posting because I think you guys should be making more than just 20 pips a day average, and also you should be experiencing less drawdown.

I suspect Gum Rai will be the hero to test this out, as his meticulousness to testing detail and number-crunching is to be envied. Either way, hope you can get something out of my doc.

I like what you have to say Trendie - but 15 minute charts!!!!! I'd be face down on my keyboard
I found keeping on top of the H1 chart for 1 month tiring enough
I do sometimes trade the M15, but not often, I will certainly take on board what you have to say.

Thanks for the compliment

BTW, when trading the H4 timeframe, I think that I will mostly be working with the close of the candle.




GumRai

 

[trendie]

got an email today about 317 pips being made from 2 trades.

sell GU at 1.65111, close at 1.6405. (Nov-26-27) 106 pips??

sell GU at 1.66633, close at 1.65089. (Nov-26-26) 154 pips??

actually, he also bought GU 1.64122 and closed at 1.6469 for 57 pips.

I get the 317, but only by counting 3 trades, not 2. mere details I know, but did anyone replicate these?

hope your having a good day, seems choppy to me.

 

[GumRai]

got an email today about 317 pips being made from 2 trades.

sell GU at 1.65111, close at 1.6405. (Nov-26-27) 106 pips??

sell GU at 1.66633, close at 1.65089. (Nov-26-26) 154 pips??

actually, he also bought GU 1.64122 and closed at 1.6469 for 57 pips.

I get the 317, but only by counting 3 trades, not 2. mere details I know, but did anyone replicate these?

hope your having a good day, seems choppy to me.

Yes Trendie, I can confirm - my internet is really bad today, if you want more details of trades, I will post more. Those claims are very close to what I have.

 

[GumRai]

The first 2 deals that you show
The 2nd deal is opening the short position
The first deal that you show is the rollover of the same deal-if that makes sense

 

[Rolf_Germany]

got an email today about 317 pips being made from 2 trades.

sell GU at 1.65111, close at 1.6405. (Nov-26-27) 106 pips??

sell GU at 1.66633, close at 1.65089. (Nov-26-26) 154 pips??

actually, he also bought GU 1.64122 and closed at 1.6469 for 57 pips.

I get the 317, but only by counting 3 trades, not 2. mere details I know, but did anyone replicate these?

hope your having a good day, seems choppy to me.

I think Your email results are possible with using the asian session.

Personally I had only a Trial some weeks ago with SniperForex.

I still use my own keep-it-simple-system:

- a free avaiable color changing single Hull_Moving_Average with setting: 32
- a free avaiable ATR stop with setting: 1 5 2.5
- a free avaiable normal Parabolic SAR with setting: 0.01 0.1

my results on November 26th:
sell GBP/USD at 1.6654 (8 oClock / after breakfast, all my indicators were short)
over night secured with stoploss which was not taken

On November 27th:
close GBP/USD at 1.6387 (2 oClock p.m. Hull Moving average changed Color)
buy GBP/USD at 1.6431 (4 oClock p.m. all of my indicators were long)
close GBP/USD at 1.6469 (10 oClock p.m. / time to close everything for the weekend)

result 305 pips

26/27 November were two very profitable and easy days

today November 30th:
sell GBP/USD at 1.6518 (11oClock a.m. all of my indicators were short
trade is still open but looks not interesting actual



I think Your email results are possible with using the asian session.

(times are german local time)

 

[trendie]

I have been asked to post up my Hull Moving Averages.
I think this is because I have made a channel out of them.
All I have done is take the code for the standard HMA, which uses closes, and in the code replaced references to "PRICE_CLOSE" and replaced with "PRICE_HIGH" and "PRICE_LOW".

 

[Rolf_Germany]

I have been asked to post up my Hull Moving Averages.
I think this is because I have made a channel out of them.
All I have done is take the code for the standard HMA, which uses closes, and in the code replaced references to "PRICE_CLOSE" and replaced with "PRICE_HIGH" and "PRICE_LOW".

Together with the "PRICE_MIDDLE" (or "PRICE_CLOSE", I am not sure) it fits very good in this thread.

Thank You for uploading.

Because You were just talking about Hull Moving Averages, here a little episod:

When I had a look at Sniperforex a few weeks ago, and when I used the
free Trial for one week, I looked around a little bit in the internet about Sniperforex.

I found following message in the Vodahost-Forum of a user with username "thatchman":

"My website is www sniperforex com
I am looking for someone to do a professional redesign for me, I sell forex trading
software. My website email address was hacked recently and spam sent from it,
Vodahost suspended my account, to cut a long story short I am looking for a pro to (re)
build the site, simple html, nothing too fancy, must be in BVP and should be secure.
....
blablabla
....
Regards
Gary Pavkovich "


I am an old guy and remembering things are maybe difficult for old guys, but the
username "thatchman"....well, I read already some things of a thatchman somewhere else.

So I searched around and I found that "thatchman" of my memory again. There was a
"thatchman" 3 years ago in the forexfactory_com. At the end of 2006 he wrote:

"Hi there
Any chance a Hull MA can be coded to display 1 colour when it is facing up and another
when facing down?"

and later in 2007:
"I have taken a freely available HMA that shows up and down trend in different colours
and added pop up and e-mail alerts. There is a two-fold problem here:
(1.).......
(2.)......."

Thats funny, isnt it?

There are "Live Manual Trading Results" on the webpage of sniperforex beginning
with the year 2004.

So it cant be the same strawman ... ooops ... thatchman , or what do You think?

 

[forexkunta]

Rolf,
If you would, post the a download for those indicators.
Regards,
Kent

I think Your email results are possible with using the asian session.

Personally I had only a Trial some weeks ago with SniperForex.

I still use my own keep-it-simple-system:

- a free avaiable color changing single Hull_Moving_Average with setting: 32
- a free avaiable ATR stop with setting: 1 5 2.5
- a free avaiable normal Parabolic SAR with setting: 0.01 0.1

my results on November 26th:
sell GBP/USD at 1.6654 (8 oClock / after breakfast, all my indicators were short)
over night secured with stoploss which was not taken

On November 27th:
close GBP/USD at 1.6387 (2 oClock p.m. Hull Moving average changed Color)
buy GBP/USD at 1.6431 (4 oClock p.m. all of my indicators were long)
close GBP/USD at 1.6469 (10 oClock p.m. / time to close everything for the weekend)

result 305 pips

26/27 November were two very profitable and easy days

today November 30th:
sell GBP/USD at 1.6518 (11oClock a.m. all of my indicators were short
trade is still open but looks not interesting actual



I think Your email results are possible with using the asian session.

(times are german local time)