Thanks for the link, never seen that site before, very informative.
Sniper Forex System
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Thanks for the link, never seen that site before, very informative.
I own SniperForex, which I use as a secondary moving average and a three-bar indicator, not a trading system. But I'm curious how you were able to rate the vendor's performance. Has the vendor ever given you a trade statement? I've asked for a statement twice, and all I've received has been a list of unverified spread trades that, as far as I can determine, doesn't correspond to the software's signals.
If used with oscillators and support and resistance studies, SniperForex is valuable, but it's signals usually only confirm signals my moving averages and price action readings.
As a novice Forex trader, I bought it hoping to have the profitable manual system that the vendor had advertised. Though the system may or may not be profitable without filters, it requires round-the-clock monitoring. Once you filter out the whipsaws, you can make a high probability trade with several free MT4 indicators.
Is this still working?
I'm a Sniper Forex owner who is getting ready to go live, but hasn't seen any current comments on the software.
Is anybody still profitably trading it?
pipsmasterone
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Hello Everyone
I have never asked the vendor to submit his trading results and I only use the published results to gauge my performance. Sniper works and will continue to work because of its simplicity and logic, however, there will be times when it will under perform like any other system, that's why money management is the most important aspect of any trading approach. Trading is not about buying or selling but about managing risk, in fact when you start considering your self as a risk manager as opposed to a trader, you will see your performance improve greatly because its a different state of mind.
You can use a filters such as a Sidus Indicator (in itself a great system) to weed out whipsaws, however be careful, sidus indicator can repaint sometimes (read up on the system)
Take signals only during European and US session, be careful around news time and don't expect 3000 pips a month. This game is not about how many pips you make, its about the ratio of your profits to loses and pips gained vs. pips lost.
If you don't want to sit in front of a computer for 18 hours trade only European session or only U.S session.
Regards
I have never asked the vendor to submit his trading results and I only use the published results to gauge my performance. Sniper works and will continue to work because of its simplicity and logic, however, there will be times when it will under perform like any other system, that's why money management is the most important aspect of any trading approach. Trading is not about buying or selling but about managing risk, in fact when you start considering your self as a risk manager as opposed to a trader, you will see your performance improve greatly because its a different state of mind.
You can use a filters such as a Sidus Indicator (in itself a great system) to weed out whipsaws, however be careful, sidus indicator can repaint sometimes (read up on the system)
Take signals only during European and US session, be careful around news time and don't expect 3000 pips a month. This game is not about how many pips you make, its about the ratio of your profits to loses and pips gained vs. pips lost.
If you don't want to sit in front of a computer for 18 hours trade only European session or only U.S session.
Regards
forexkunta
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Hi all,
I agree with you 100% PM1. Sniper is a very good system, and it has its bad days, just like anything out there. As an avid Eliott Wave enthusiast, adding EW to Sniper makes it a combination that is hard to beat. Knowing when to get out based on wave counts makes Sniper extremely effective. One thing that has been constant since I purchased Sniper is the fact that there has been a link on the Sniper website to the EW website. If you wait for the stop loss based on SNiper's rules, then it will be less profitable. I urge everyone to get versed in Elliott wave analysis for use with Sniper. Sniper provides the ability to get into a move much earlier than most other methods. I also use RSI and MACD to confirm trades, so I don't rely on Sniper alone. Bear in mind, that the last 2 times that the BOJ meddled in the forex markets in the last few weeks, Sniper already had the trade pegged, and the profit was grand on GBPJPY. Glad to see some interest in the thread. I got tired of being the only one posting, so I backed off.
Regards,
Kent
I agree with you 100% PM1. Sniper is a very good system, and it has its bad days, just like anything out there. As an avid Eliott Wave enthusiast, adding EW to Sniper makes it a combination that is hard to beat. Knowing when to get out based on wave counts makes Sniper extremely effective. One thing that has been constant since I purchased Sniper is the fact that there has been a link on the Sniper website to the EW website. If you wait for the stop loss based on SNiper's rules, then it will be less profitable. I urge everyone to get versed in Elliott wave analysis for use with Sniper. Sniper provides the ability to get into a move much earlier than most other methods. I also use RSI and MACD to confirm trades, so I don't rely on Sniper alone. Bear in mind, that the last 2 times that the BOJ meddled in the forex markets in the last few weeks, Sniper already had the trade pegged, and the profit was grand on GBPJPY. Glad to see some interest in the thread. I got tired of being the only one posting, so I backed off.
Regards,
Kent
Having bought Sniper, I would like to use it for more than a $199 alert, which I consider a luxury, not a necessity. I had been hoping that Donna Forex's EA would enable me to enter filtered trades and manage them with automated stops, and to back test different profit taking constants, but today Donna wrote me that, because of lack of demand and so-so results, she will no longer be updating her Sniper EA.
That leaves Funyoo's $99 EA as a possibility. Do you know if it has good trade management value?
Given Sniper's disproportionate risk-reward ratio and round-the-clock monitoring needs, I'm hesitant to trade Sniper as a manual trade system, even with good filters.
forexkunta
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If you are wanting to trade with ea's to make tons of money, you are wasting your time. The Forex markets can be traded manually without ea's, it you want to do it. I have looked at all of the ea's that have hit the market, and have been very disappointed, even with Donna's. If you want to trade the forex market's, then you should learn to do it manually. I find that for a $199 alert, Sniper does its job very well. I then trade manually to the end of the trade. I think that you will find that if you want to stay in a trend, than most pairs will only offer 1-5 trades a week. That is enough for anyone to trade manually and not have to worry about getting knocked out. Sniper tends to alert at the beginning of a trend and then on all retracements of any size, so it looks like 8-12 trades per week. Good luck with the ea search, you are really going to need it.
Kent
Kent
Kent,
Thanks for the heads up SniperForex EAs. Donna said that though her EA did not lose money, the profits weren't enough to compensate for her time and effort. Following your advice, I'll forget about Funyoo's EA, and just continue to use Sniper as an alert to be filtered.
For entries and exits, I subjectively use channel line crosses. I'm still experimenting with stops.
Ivan
Thanks for the heads up SniperForex EAs. Donna said that though her EA did not lose money, the profits weren't enough to compensate for her time and effort. Following your advice, I'll forget about Funyoo's EA, and just continue to use Sniper as an alert to be filtered.
For entries and exits, I subjectively use channel line crosses. I'm still experimenting with stops.
Ivan
pipsmasterone
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Hello All
Great advice forexkunta, I will look into combining Sniper with Elliot Wave,
any pointers?
Great advice forexkunta, I will look into combining Sniper with Elliot Wave,
any pointers?
forexkunta
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Post #8 on the following page is a good place to start. Bear in mind, this has a learning curve, and takes some time to learn to see things on the charts.
http://www.trade2win.com/boards/for...rately-seeking-good-daily-trading-system.html
http://www.trade2win.com/boards/for...rately-seeking-good-daily-trading-system.html
where can i purchase these package indicators?...please help i need guideline on starting a good trading trends....you or anyone may email me stating about Sniper FX.
Thanks
You could buy mine for half price, plus the $25 they charge to recompile it.
How are you
Hi Forexkunta,
This thread has been almost dead for a while now. I am just wondering how you are doing and I have a question. I am somewhat frustrated with Sniper. Not because it doesn't work, but because of the amount of time required for what I am trying to accomplish, that is living off trading. But I have realized that the gains generated trading just Cable were not consistent nor sufficient to live off. So I changed my plan to trade Cable, E$ and EY taking all confirmed signals and using 2% per trade. And it worked: backtested and forwarded tested until today. My problem: I can't be around 24 hours/5 as per system. My question to you is how do you actually live to trade as per your quote to me below last March? I know I sound more like I am rambling, but any help/advice would do. Thanks.
"Well, I make myself available to trade 24/5 as alerts are triggered. The pair that I trade is most relevant during the Asian and London sessions, with most alerts triggered during the Asian session, so being in Louisiana, it is good for me. I have everything I can set up to send alerts to my Blackberry, and have a program on my BB to allow me to get into my trading computer and see what is going on from anywhere in the world. It is cumbersome, so I prefer other options if I can. I carry a laptop with me in my job, so I have the ability to go by any McDonalds in the country, as my internet service provider has established them as a wifi point for their subscribers, and can access my trading platform from there. During the night, if alerts are generated, I get out of bed, check it out and then go back. Some nights, it is every 30 min to an hour, and those nights make for a pretty long day, but those are pretty infrequent. If you will look at the trends and ranging, thing sometimes go several days between alerts. The Metatrader platform has an option to send alerts via email for a set price, and I use it heavily, especially for my s/l. It is pretty infrequent for a s/l to be hit after an entry alert is generated, so I am pretty confident that I can enter a trade and go back to what I was doing, be it work or sleeping. The alert on the s/l lets me know if things went against me. You just have to have confidence in the system. If I get no alerts during the night, I set my alarm clock to wake me every 3 hours, just to check things out. I just don't have the time or money to allow me to trade full time, so this is how I have worked around things. Hope this helps.
Kent"
P.S. Also keep in mind, that when you get an alert from Sniper, and cannot get to it for a couple of hours, price usually hasn't moved so much that you can't enter when you can look at it. Generally on GBP/JPY, which is my primary pair, moves can be huge, so it gives me some time to get into the trade.
Hi Forexkunta,
This thread has been almost dead for a while now. I am just wondering how you are doing and I have a question. I am somewhat frustrated with Sniper. Not because it doesn't work, but because of the amount of time required for what I am trying to accomplish, that is living off trading. But I have realized that the gains generated trading just Cable were not consistent nor sufficient to live off. So I changed my plan to trade Cable, E$ and EY taking all confirmed signals and using 2% per trade. And it worked: backtested and forwarded tested until today. My problem: I can't be around 24 hours/5 as per system. My question to you is how do you actually live to trade as per your quote to me below last March? I know I sound more like I am rambling, but any help/advice would do. Thanks.
"Well, I make myself available to trade 24/5 as alerts are triggered. The pair that I trade is most relevant during the Asian and London sessions, with most alerts triggered during the Asian session, so being in Louisiana, it is good for me. I have everything I can set up to send alerts to my Blackberry, and have a program on my BB to allow me to get into my trading computer and see what is going on from anywhere in the world. It is cumbersome, so I prefer other options if I can. I carry a laptop with me in my job, so I have the ability to go by any McDonalds in the country, as my internet service provider has established them as a wifi point for their subscribers, and can access my trading platform from there. During the night, if alerts are generated, I get out of bed, check it out and then go back. Some nights, it is every 30 min to an hour, and those nights make for a pretty long day, but those are pretty infrequent. If you will look at the trends and ranging, thing sometimes go several days between alerts. The Metatrader platform has an option to send alerts via email for a set price, and I use it heavily, especially for my s/l. It is pretty infrequent for a s/l to be hit after an entry alert is generated, so I am pretty confident that I can enter a trade and go back to what I was doing, be it work or sleeping. The alert on the s/l lets me know if things went against me. You just have to have confidence in the system. If I get no alerts during the night, I set my alarm clock to wake me every 3 hours, just to check things out. I just don't have the time or money to allow me to trade full time, so this is how I have worked around things. Hope this helps.
Kent"
P.S. Also keep in mind, that when you get an alert from Sniper, and cannot get to it for a couple of hours, price usually hasn't moved so much that you can't enter when you can look at it. Generally on GBP/JPY, which is my primary pair, moves can be huge, so it gives me some time to get into the trade.
forexkunta
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Re: How are you
JD,
I haven't used Sniper to trade in months, so i really have nothing that I can say. Good luck with your trading though. And with the sarcastic attitudes that most of the traders have when someone asks a simple question, I really don't keep track in this forum much, either. I have been using Elliott Wave techniques in my trading for sometime and have become much more consistent. There is a thread call Desperately seeking a daily system in this forum and I posted an ebook titled Ultimate traders handbook that should get you on the right track. download and study. The Moving Average Compression and usage of the MACD should help alot. Also bear in mind, the indicators that they recommend are not custom anything. All are found in any trading package. No since in paying for something when free works just fine.
Kent
http://www.trade2win.com/boards/for...rately-seeking-good-daily-trading-system.html
JD,
I haven't used Sniper to trade in months, so i really have nothing that I can say. Good luck with your trading though. And with the sarcastic attitudes that most of the traders have when someone asks a simple question, I really don't keep track in this forum much, either. I have been using Elliott Wave techniques in my trading for sometime and have become much more consistent. There is a thread call Desperately seeking a daily system in this forum and I posted an ebook titled Ultimate traders handbook that should get you on the right track. download and study. The Moving Average Compression and usage of the MACD should help alot. Also bear in mind, the indicators that they recommend are not custom anything. All are found in any trading package. No since in paying for something when free works just fine.
Kent
http://www.trade2win.com/boards/for...rately-seeking-good-daily-trading-system.html
Last edited:
pipsmasterone
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Hello all
JD, It is not necessary to trade 24 hours to be profitable in forex (I would go crazy if I had to monitor my positions around the clock), You can use Sniper and be profitable just a few hours per day. The best signals occur during European session (GBP/USD) however if you traded only US session you would be profitable as well,
The red dots (sniper stops) are ATR stops, so look around the internet and perhaps you can find a money management EA that will close the trade at ATR stop levels, I have it seen it before, but don't remember where.
Regards
JD, It is not necessary to trade 24 hours to be profitable in forex (I would go crazy if I had to monitor my positions around the clock), You can use Sniper and be profitable just a few hours per day. The best signals occur during European session (GBP/USD) however if you traded only US session you would be profitable as well,
The red dots (sniper stops) are ATR stops, so look around the internet and perhaps you can find a money management EA that will close the trade at ATR stop levels, I have it seen it before, but don't remember where.
Regards
JD,
Not only does Sniper not work, if the vendor's directions are followed, better than most free indicators, the vendors will not provide an account statement from a broker that corroborates their monthly profit claims. For this reason, SystemsforTraders.com stopped publicly trading it.
For disinterested information about a program that seems to work long term, go to the Forex Morning Trade journal on this site.
If you're still interested in buying Sniper Forex, you can buy mine for half price, plus the vendor's $25 recompilation fee, which you have to pay each time to switch accounts with it.
Not only does Sniper not work, if the vendor's directions are followed, better than most free indicators, the vendors will not provide an account statement from a broker that corroborates their monthly profit claims. For this reason, SystemsforTraders.com stopped publicly trading it.
For disinterested information about a program that seems to work long term, go to the Forex Morning Trade journal on this site.
If you're still interested in buying Sniper Forex, you can buy mine for half price, plus the vendor's $25 recompilation fee, which you have to pay each time to switch accounts with it.
goose4
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Sniper is a half scam the guy lies about all his results on the site.
Why would he do that?
If it was amazing why would he sell it?
This is kids stuff so clear.If he sells a hundred per month thats his money.
If it was so good why has forexhunta stopped trading with it? He was a fan boy as he was new to forex.
If it was good he still would be trading it.
Why would he do that?
If it was amazing why would he sell it?
This is kids stuff so clear.If he sells a hundred per month thats his money.
If it was so good why has forexhunta stopped trading with it? He was a fan boy as he was new to forex.
If it was good he still would be trading it.
Last edited:
forexkunta
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Please do not suppose why I am not using something. I personally don't think that it is a scam, so don't imply that I do. Of all the crap on the internet, you could certainly do worse than Sniper. I still like it, and as a newbie, worked well for me. I have moved on to more advanced techniques and prefer them now. You are just an example of my previous post. This forum is filled with naysayers of every method, and I am literally sick of the crap.
Thanks to Forexkunta and every one else who shared their opinion. My only issue with Sniper is that it is too time consuming and from my experience, it is best when traded with more than just one currency pair and taking most if not all signals (without filtering). Otherwise you run the risk of missing that Long trend that would have covered your losses or made up your week/month. Just my two cents......
