Sniper Forex System

[fayalac]

I have no problems with automation. I just have never seen an EA that was worth a crap, even though I started with Fapturbo. The Sniper EA that Donnaforex put out is the only one I will run. I have set it up to run on G/U from May 1 on, with a small lot size, to capitalize on its abilities. Just a little more to add to the pot. If you are looking for a good EA, then this is the one you want. In the long run, it will be profitable.
I prefer a different method on other pairs for my main bread and butter though.
Regards.
Kent

Thanks.

 

[fayalac]

I have no problems with automation. I just have never seen an EA that was worth a crap, even though I started with Fapturbo. The Sniper EA that Donnaforex put out is the only one I will run. I have set it up to run on G/U from May 1 on, with a small lot size, to capitalize on its abilities. Just a little more to add to the pot. If you are looking for a good EA, then this is the one you want. In the long run, it will be profitable.
I prefer a different method on other pairs for my main bread and butter though.
Regards.
Kent

You´re damn rigth!.
Actually i have basically two trading methods, one scalps and the other one is intraday, for the second i already have an EA working and its making good, the second one is in the process to be automated. Both methods work perfectly well at most of the crosses but consistently fail at the JPY not enough to make a tragedy but many times i pay JPY losses with earnings from other pairs.
I´m still looking how to make it work for those pairs.

 

[forex-work]

Hi.

As Forexkunta said, to capitalize a good method you must be consistent, sniper seems to be a very good method - i will start following it - but you can never think that each trade will be succesful, there will be losses, that is part of these business.
At what TF are you applying it?, it seems to me that you are doing it at a very short one.

Hello fayalac,

thanks for your answer. I'm using it on TF=1hour, GBP/USD. I'm aware of that not every
trade can be a success, but one whole month should be enough to make positive results.

anyway, i will continue using sniper, maybe this month can be better.

Thanks.

 

[forexkunta]

Greenfield,
What were your results for April on GBP/USD? Do they reflect the same, or are they different?
Kent

 

[forexkunta]

What JPY cross are you having the problem with?
The reason I ask, I trade JPY crosses almost exclusively. Except for the ea on g/u.

Both methods work perfectly well at most of the crosses but consistently fail at the JPY not enough to make a tragedy but many times i pay JPY losses with earnings from other pairs.
I´m still looking how to make it work for those pairs.

 

[greenfield]

Hello,
this is my first posting here, sorry for my bad english. I'm not a native speaker.
I have started this month (April /2010) with sniper. Also i have followed the
rules exactly my result is around -30 pips.

This is not very good, and i would like to know if sniper really works? Or have i done
something wrong ?

How are your results in April ?
Best Regards

Hello forex-work, forexkunta et al.,
forex-work – welcome to the thread. Your results are probably about right, better than most. Up until last Wednesday, the people at systemsfortraders were down – minus 446 pts. During April I was down minus 7 pts. I think it's worthwhile looking back through this thread over the last month or so. The point that is made time and time again is that Sniper over the long run pays off. But results over a short period can sometimes be disheartening; then the system suddenly comes up trumps. For example, December was seriously bad, January and February nothing to write home about, but March gave (in my case anyway) plus 752 pts. So I think it's worthwhile staying with.

While I'm down 7 pts during April using Sniper as per the rules, my Sniper a/cs gained. This is because I've been experimenting with taking profits at a range of different levels; also the GBPJPY trades did well – up 540 pts (I'm still new to trading GBPJPY so I'm still only staking small amounts – pity really!).

I've just noticed the April results on the Sniper website: up +305 pts. I think the attitude on this thread is that we generally don't take much notice of these results!

 

[forexkunta]

I think that is a good reason for the statement that Salvadore made sometime back. Spread your risk around on at least 2 pairs. That way if you have one that is a bomb 1 month, the other can bail you out. I would much rather have 745 pips for a month, than -30. Market open in a couple of minutes, and I am short G/J. Hope it gaps lower.

Hello forex-work, forexkunta et al.,
forex-work – welcome to the thread. Your results are probably about right, better than most. Up until last Wednesday, the people at systemsfortraders were down – minus 446 pts. During April I was down minus 7 pts. I think it's worthwhile looking back through this thread over the last month or so. The point that is made time and time again is that Sniper over the long run pays off. But results over a short period can sometimes be disheartening; then the system suddenly comes up trumps. For example, December was seriously bad, January and February nothing to write home about, but March gave (in my case anyway) plus 752 pts. So I think it's worthwhile staying with.

While I'm down 7 pts during April using Sniper as per the rules, my Sniper a/cs gained. This is because I've been experimenting with taking profits at a range of different levels; also the GBPJPY trades did well – up 540 pts (I'm still new to trading GBPJPY so I'm still only staking small amounts – pity really!).

I've just noticed the April results on the Sniper website: up +305 pts. I think the attitude on this thread is that we generally don't take much notice of these results!

 

[szt0495]

What JPY cross are you having the problem with?
The reason I ask, I trade JPY crosses almost exclusively. Except for the ea on g/u.

Hello forexkunta!

I've been using sniper sytem since a few months with mixed results so far, but at least its no a total looser system, so I like it.

I noticed you are using the EA too for gbpusd. What EA are you using? I have the "Sniper Forex EA v202" Is that the one? Or you are using other?

Also, can you tell me about how much avarage pips does the EA makes per month? And how much avarage pips you are making with the manual system?

I searched the net for lots of months and the only reliable system I found is sniper forex, so I decided to fine tune my trading with it, and I may also would like to use and EA to work for me in the backgrund with low risk. I know there is no EA that can produce constant pofit, but I think there should be a way to use the automated sniper system together with the manual system.

Thanks for your answer, and btw, very nice job here in the forum! You are making an excellent work for this community.

(sorry for my english, its not my native language)

 

[forexkunta]

Well, i appreciate your vote of confidence. I am sorry, i cannot post results for my sniper trades this year due to the fact that i have let myself be pulled in other directions in my trading, and I do not keep as accurate records as Greenfield or GumRai does.

The EA is put out by Donnaforex, and unfortunately, it has expired as a trading ea, and will only manage manual trades at this point for me. That is not a bad thing, that is the primary reason I acquired the ea in the first place. Sniper is reliable system, and the only reason I have been pulled was for a better method, basically Elliott Wave analysis full time. I believe that is the next logical step after Sniper. It is something I believe in completely, and will be focusing on it, to get better at it.
Stay focused on Sniper and make yourself get disciplined, as I believe that Discipline is the #1 reason for success or failure in trading. If you can get disciplined, the emotion factor is no longer a problem.

Good trading, and I am off to bed, again. Damn insomnia!
Kent

Hello forexkunta!

I've been using sniper sytem since a few months with mixed results so far, but at least its no a total looser system, so I like it.

I noticed you are using the EA too for gbpusd. What EA are you using? I have the "Sniper Forex EA v202" Is that the one? Or you are using other?

Also, can you tell me about how much avarage pips does the EA makes per month? And how much avarage pips you are making with the manual system?

I searched the net for lots of months and the only reliable system I found is sniper forex, so I decided to fine tune my trading with it, and I may also would like to use and EA to work for me in the backgrund with low risk. I know there is no EA that can produce constant pofit, but I think there should be a way to use the automated sniper system together with the manual system.

Thanks for your answer, and btw, very nice job here in the forum! You are making an excellent work for this community.

(sorry for my english, its not my native language)

 

[forexkunta]

Well, Cable should be looking much better overall, and made up for itself for last month. I know I am up over 500 pips in the last 3 hours on 2 pair (g/j and e/j).
Happy trading.

Hello forex-work, forexkunta et al.,
forex-work – welcome to the thread. Your results are probably about right, better than most. Up until last Wednesday, the people at systemsfortraders were down – minus 446 pts. During April I was down minus 7 pts. I think it's worthwhile looking back through this thread over the last month or so. The point that is made time and time again is that Sniper over the long run pays off. But results over a short period can sometimes be disheartening; then the system suddenly comes up trumps. For example, December was seriously bad, January and February nothing to write home about, but March gave (in my case anyway) plus 752 pts. So I think it's worthwhile staying with.

While I'm down 7 pts during April using Sniper as per the rules, my Sniper a/cs gained. This is because I've been experimenting with taking profits at a range of different levels; also the GBPJPY trades did well – up 540 pts (I'm still new to trading GBPJPY so I'm still only staking small amounts – pity really!).

I've just noticed the April results on the Sniper website: up +305 pts. I think the attitude on this thread is that we generally don't take much notice of these results!

 

[jducheine]

What a day today was! especially for the folks trading the yen crosses. Any how, I started using Sniper more actively a week ago in a real account and fortunately I am up. However I would like to experiment using Sniper on a range bar charts (not 1 hour), which option MT4 doesn't have. Does anymone know where and how I can get that done for MT4. Thanks.

 

[forexkunta]

There was a reference to something similar to that in another forum, donnaforex.com, that can be implemented on mt4. It is actually already in mt4. You can trade t/f's like 8 hour and 6 hour. Pretty interesting.
Kent

What a day today was! especially for the folks trading the yen crosses. Any how, I started using Sniper more actively a week ago in a real account and fortunately I am up. However I would like to experiment using Sniper on a range bar charts (not 1 hour), which option MT4 doesn't have. Does anymone know where and how I can get that done for MT4. Thanks.

 

[forexkunta]

Try this out to see if it is what you are looking for. I haven't even opened the file, so you are on your own.
Kent

What a day today was! especially for the folks trading the yen crosses. Any how, I started using Sniper more actively a week ago in a real account and fortunately I am up. However I would like to experiment using Sniper on a range bar charts (not 1 hour), which option MT4 doesn't have. Does anymone know where and how I can get that done for MT4. Thanks.

 

[jducheine]

There was a reference to something similar to that in another forum, donnaforex.com, that can be implemented on mt4. It is actually already in mt4. You can trade t/f's like 8 hour and 6 hour. Pretty interesting.
Kent

Thanks. I will take a look and if anything positive comes up I will keep everybody posted.

 

[dreadnought101]

Hello forex-work, forexkunta et al.,
forex-work – welcome to the thread. Your results are probably about right, better than most. Up until last Wednesday, the people at systemsfortraders were down – minus 446 pts. During April I was down minus 7 pts.

Hi Greenfield, thanks for supplying an update on your trading stats, I always find your posts highly informative. For the record my own results on a live account for GBP/USD was also down 7 pts, however the account showed a modest rise of 2.5% due to variable position sizing.

I admire your commitment to trading sniper manually and as authentically as possible, I've chosen to automate and had my own EA coded to mimic the sniper philosophy. I believe that the pschychological stress that any trend based strategy imposes is not inconsiderable which is why I much prefer automation, but that's just my own preference.

I'm currently trading live on both GBP/USD and GBP/YEN. Back testing has indicated that a sniper period of 42 for Cable and 46 for the guppy are optimum and this is what I'm running with, although it's fair to say that no back testing is that reliable. I'm also using an additional "low frequency" setting of 84 & 92 respectively to hopefully further smooth the equity curve. The number of trades are approximately halved, thereby reducing the transaction costs and whipsawing but obviously trends are boarded and exited later, often reducing the potential pips available.

From experience I don't believe it really matters how you use this system or any other for that matter, it's more about consistency of application, as you have amply demonstrated with your results over the last year. Keep up the good work.

If people are looking for reassurance that this or any other trend based system can yield positive reults they could do worse than reading the interview with William Eckhardt (co-founder of the Turtles) in "New Market Wizards" by Jack Schwager.

 

[pircj]

"From experience I don't believe it really matters how you use this system or any other for that matter, it's more about consistency of application..."

I second that!

3M = Money Management Matters = Make More Money

Hi Greenfield, thanks for supplying an update on your trading stats, I always find your posts highly informative. For the record my own results on a live account for GBP/USD was also down 7 pts, however the account showed a modest rise of 2.5% due to variable position sizing.

I admire your commitment to trading sniper manually and as authentically as possible, I've chosen to automate and had my own EA coded to mimic the sniper philosophy. I believe that the pschychological stress that any trend based strategy imposes is not inconsiderable which is why I much prefer automation, but that's just my own preference.

I'm currently trading live on both GBP/USD and GBP/YEN. Back testing has indicated that a sniper period of 42 for Cable and 46 for the guppy are optimum and this is what I'm running with, although it's fair to say that no back testing is that reliable. I'm also using an additional "low frequency" setting of 84 & 92 respectively to hopefully further smooth the equity curve. The number of trades are approximately halved, thereby reducing the transaction costs and whipsawing but obviously trends are boarded and exited later, often reducing the potential pips available.

From experience I don't believe it really matters how you use this system or any other for that matter, it's more about consistency of application, as you have amply demonstrated with your results over the last year. Keep up the good work.

If people are looking for reassurance that this or any other trend based system can yield positive reults they could do worse than reading the interview with William Eckhardt (co-founder of the Turtles) in "New Market Wizards" by Jack Schwager.

 

[nkingy2003]

Just started the sniper trial and due to my schedule I am looking to trade on the 15 min time frame. I am also looking at using multiple pairs. I plan to use GBP/USD, EUR/USD, GBP/JPY, EUR/GBP and EUR/JPY.

Has anyone else traded the 15 minute timeframe with multiple pairs? If so, what were the results like?

 

[agentbluescreen]

It's been awfully quiet for a while.. wonder what's everyone up to? Anyone still using Sniper??

 

[ougoah]

I've just started forexing again and placed a trade =]

 

[ougoah]

I have no idea how this is going to turn out, but the account is only $500, and I'll trade according to the sniper rules. I have a feeling it's going to come down to money management much more than the system itself (although, I guess, you need some kind of plan to trade according to).