I think there is a misunderstanding. I did not explain well my idea. You should enter a trade as soon as the sniper stop flip over and change color. After the initial move price tend to retrace part of the move and get closer to the stop, this is where you can re-enter in the direction of the initial move. I am aware that this is a variation of the system.
Sniper Forex System
- Thread starter stevespray
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I think there is a misunderstanding. I did not explain well my idea. You should enter a trade as soon as the sniper stop flip over and change color. After the initial move price tend to retrace part of the move and get closer to the stop, this is where you can re-enter in the direction of the initial move. I am aware that this is a variation of the system.
forexkunta
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Are you talking about taking an initial entry when it flips, and then entering another position when it retraces? I could go for that.
My strategy of working trends is to take the initial entry, if Sniper signals a move in the opposite direction, which is a correction, as long as the stop is not hit, when the Sniper signals another entry in the direction of the first trade, then I enter another position, as long as the first position is locked at break even or above. That allows you to take advantage of a long running trend, make as many pips as possible, and also make up for any previous losses, by taking another high probability trade in the direction of the current trend. But that is just me, and I can distinguish the difference between a minor correction, and a trend change. Makes trading 1or 2 pairs more profitable. But I also only trade on the 1H chart
My strategy of working trends is to take the initial entry, if Sniper signals a move in the opposite direction, which is a correction, as long as the stop is not hit, when the Sniper signals another entry in the direction of the first trade, then I enter another position, as long as the first position is locked at break even or above. That allows you to take advantage of a long running trend, make as many pips as possible, and also make up for any previous losses, by taking another high probability trade in the direction of the current trend. But that is just me, and I can distinguish the difference between a minor correction, and a trend change. Makes trading 1or 2 pairs more profitable. But I also only trade on the 1H chart
exactly.
[/QUOTE]My strategy of working trends is to take the initial entry, if Sniper signals a move in the opposite direction, which is a correction, as long as the stop is not hit, when the Sniper signals another entry in the direction of the first trade, then I enter another position, as long as the first position is locked at break even or above. That allows you to take advantage of a long running trend, make as many pips as possible, and also make up for any previous losses, by taking another high probability trade in the direction of the current trend. But that is just me, and I can distinguish the difference between a minor correction, and a trend change. Makes trading 1or 2 pairs more profitable. But I also only trade on the 1H chart[/QUOTE]
I trade on the 1hr chart too but I use the 4hr chart to know the overall trend.
forexkunta
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Wow! Where is everyone?
szt0495
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Hello guys! I've been off from this topic for a while, but now I'm back again. I traded Sniper on a demo for the last month and I just simply took every trade with 50 pips profit target and I got 300 pips net profit in one month.
To be honest I would be happy with even 200 net pips/month with 1.00 lot
So after this very good experience, I just bought the system yesterday.
I'm a little confused about e-mail alerts. I dont see any "e-mail alert" option in the "Sniper" indicator. How to send those e-mails then? Anyone has that option?
To be honest I would be happy with even 200 net pips/month with 1.00 lot
So after this very good experience, I just bought the system yesterday.
I'm a little confused about e-mail alerts. I dont see any "e-mail alert" option in the "Sniper" indicator. How to send those e-mails then? Anyone has that option?
Hello guys! I've been off from this topic for a while, but now I'm back again. I traded Sniper on a demo for the last month and I just simply took every trade with 50 pips profit target and I got 300 pips net profit in one month.
To be honest I would be happy with even 200 net pips/month with 1.00 lot
So after this very good experience, I just bought the system yesterday.
I'm a little confused about e-mail alerts. I dont see any "e-mail alert" option in the "Sniper" indicator. How to send those e-mails then? Anyone has that option?
hi, You right in the originals sniper indis there is no email alert.
you have to use an EA , you will find here in this thread, this EA used the sniper originals indis and send you an email if all confirm the entry.
cheers
Hi Kent,
the sniper is for me not the right decision in this time for my style of trading.
I don't know why Gary can make this $$, he show in his statement, and the last website pic from him make me to think thats all a big advertisement but not serious trading.
the habit from cable also change same in the whole forex market , there is a lot of ranging and the long swings not so often same before, so every trader has to change his trading style to the market.
the sniper system give teh entry late for a move , thats ok if the move is big but in this times the move most finish if the entry signal come.
so I decide to trade some short TF system and scalping and also some breakout system by good ROI
a good trader has to have a lot of tools in his box and must used the right one by the right time
and sniper is in this time not the right , I put it in the toolbox
I try
cheers
greenfield
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Hello szt0495,
You've done well. TP at 50 over the last month would have been the best tactic using Sniper, no doubt on account of the fact that GBPUSD has pretty much been trendless the past 6 weeks or so. Looking at my trades, since 11 Jan, applying a TP50 shows +364pts. TP100 would be +148pts. Letting each trade run its course shows +65pts.
Since 1 Dec, the optimum TP would be 85pts = +355pts. TP50 = +201pts; TP100 = -72pts. Letting each trade run its course shows -361pts.
I would suggest, though, that the outcome will change through different conditions. When we start getting some decent trends, you will be kicking yourself when Sniper trades give +100, +200, +300pts. My figures, from April, show that a 50TP gives the same result as per letting each trade run its course, but 28% less than a 115TP, 31% less than a 160TP. (That's why I take out several trades with a range of TPs.). It's a difficult decision to make, but you've certainly been spot on so far.
Keep us up to date with how you get on.
One thing some people have been doing is diversifying using other pairs as well. I've been trading GBPJPY since December, up 253pts so far, though Jan has been difficult. This current trade is a bit of a cracker – up 250pts so far.
Hello fx_eagle,
Yes, I enjoy Gary's emails, but..................... His last email, +122pts on Monday's trade. I got +31pts, the people at systemsfortraders got +40pts. Has anyone been able to work this one out?
forexkunta
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Glad to see you back with the live version. The email alert is triggered after you enable the alerts in the Sniper option by right clicking on the chart, going to indicators and edit Sniper. The alert option is set to 0, change to 1. This causes sniper to set alert to come up on the screen. If you have your email options setup in metatrader, by putting in your server info, then when the alert goes to the screen, it will also kick out an email alert to an email address, be it on a blackberry, ipod or whatever you run. If you have any problems, just post here. You don't have to have the SniperEA for the email alerts.
Kent
P.S. You wont find me trading Cable any time soon. I have always disliked the pair. It's moves just don't do much. I will only trade G/J or E/J, with G/J being my first choice.
Kent
P.S. You wont find me trading Cable any time soon. I have always disliked the pair. It's moves just don't do much. I will only trade G/J or E/J, with G/J being my first choice.
thats right Kent, he send then an email , but this alert dont check if the other snipers indicators confirm the trade, so you will have a lot of emails that are only tell you there is a arrow or sniper direction change and so on
same:
07 Jan 12:32 Imminent short trade alert on GBPUSD, H1, 2010.01....
but the trade was at:
07 Jan 14:04 Enter Short at 1.59448
so I think the email from sniper are not very helpful
cheers
forexkunta
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Eagle,
I am sorry to hear that. There are some other options for taking profit other than waiting for the stop dot to be hit, and I very strongly suspect that Gary uses those other options pretty frequently. That would account for his totals, and everyone esle's lack of, due to waiting for the s/l to be hit. The longer you trade a given pair the more you get to know it's intricate moves, and the more you can anticipate the reactions of the different news events that makes the pair move.
2 of the options that I use are counting wave with EW theory, and just basic trendlines. I have found that when a trendline is broken, then the direction will most likely change, after the trendline is set in the correct position. Of course, experience with trendlines is very important in this method, but as with anything forex, you just have to have the experience, and that does not come just by putting indicators on a chart, however good they may be. I would suggest that you trade Sniper on demo for a few months, stick with one pair and learn it like the back of your hand. In any given year, you will see good times and bad times on any pair, you just have to suffer through. Guppy is my pair of choice, and to be honest, I am down due to it's failure to trend since the first of the year, but I know that it will turn, and probably soon. I am posting a picture with the trend lines drawn on the chart for the last couple of moves, which I totally missed due to other things going on. That would have put me up for the year, but, that is the way it goes sometimes.
Regards,
Kent
I am sorry to hear that. There are some other options for taking profit other than waiting for the stop dot to be hit, and I very strongly suspect that Gary uses those other options pretty frequently. That would account for his totals, and everyone esle's lack of, due to waiting for the s/l to be hit. The longer you trade a given pair the more you get to know it's intricate moves, and the more you can anticipate the reactions of the different news events that makes the pair move.
2 of the options that I use are counting wave with EW theory, and just basic trendlines. I have found that when a trendline is broken, then the direction will most likely change, after the trendline is set in the correct position. Of course, experience with trendlines is very important in this method, but as with anything forex, you just have to have the experience, and that does not come just by putting indicators on a chart, however good they may be. I would suggest that you trade Sniper on demo for a few months, stick with one pair and learn it like the back of your hand. In any given year, you will see good times and bad times on any pair, you just have to suffer through. Guppy is my pair of choice, and to be honest, I am down due to it's failure to trend since the first of the year, but I know that it will turn, and probably soon. I am posting a picture with the trend lines drawn on the chart for the last couple of moves, which I totally missed due to other things going on. That would have put me up for the year, but, that is the way it goes sometimes.
Regards,
Kent
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forexkunta
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S&P says UK is no longer among the most 'low-risk' banking systems...Should not be good for GBP.
What a freakin statement in the news. Caused a hellava decline in Guppy! 113 pips and counting.
What a freakin statement in the news. Caused a hellava decline in Guppy! 113 pips and counting.
forexkunta
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Another thing that I find my self doing, is over trading. Going into trades after they have moved quite a bit, and then sustaining a loss as a result. The entry's that Sniper gives are usually good one, although it misses at times. False signals WILL happen. Sniper is only reporting what the price action is DOING from hour to hour, it cannot see into the future. Nothing can! Even Elliott Wave does not provide a look into the future per say, it just gives probabilities of what should happen. Even EW misses. So be sure to just take the trades as they are alerted, and don't go in 200 pips later to try to make a few pips.
Being in the market 24/5 does not define you as a trader. Taking trades when, and only when, they are warranted, does!
Being in the market 24/5 does not define you as a trader. Taking trades when, and only when, they are warranted, does!
forexkunta
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Hey everyone,
Here is something that all forex traders should be aware of and take the actions stated in this forum, no matter your country of origin.
It will ultimately affect every forex trader in this world at some point.
http://www.forex-tsd.com/general-discussion/8320-proposed-nfa-capital-requirement-60.html
Regards
Here is something that all forex traders should be aware of and take the actions stated in this forum, no matter your country of origin.
It will ultimately affect every forex trader in this world at some point.
http://www.forex-tsd.com/general-discussion/8320-proposed-nfa-capital-requirement-60.html
Regards
salvadorveiga
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i would also say he uses the scale out piip method as he details in the e-book.
dividing the trade into X trades and then put TP's and leave only 1 to ride the trend....
No Sal,
in the results that Gary claims, there is only one trade per set-up so he does not use this method.
He manages to conveniently misplace some of the losing trades though.
Also, Trendie may remember that we discussed an email from Gary a long time back where he claimed more than 140 pips for a trade that made about 80...
It turned out that there was a minus sign missing from the "copy" that Gary supplied of his trading account and he had added the 2 results (the trade was rolled over) instead of subtracting the loss from the gain.
A person with a suspicious mind could be forgiven for thinking that Gary's trading accounts that he posts are possibly cut and paste jobs :innocent:
Here they are - posts #1136 and #1138 from August last year
Greenfield, I see from your post that you only made 53 pips from the short early in the week - did you get in late?
I've just had an email from Sniper claiming 143 pips profit for that deal,
In the email, Sniper claims entry at 1.6510
Exit at 1.6421
Now when I was at my maths lessons back in my schooldays, I would have made that 89 pips not 143.
This does suggest that you can take the results posted on the website with a pinch of salt.
I believe Greenfield's results and they seem good enough, but I would advise anyone not to expect the fantastic results claimed on the website.
