Sniper Forex System

Still trying with this system--getting several false signals today. Maybe not a fair market though.
 
tommac said:
Still trying with this system--getting several false signals today. Maybe not a fair market though.
Click to expand...

Yes no decent signals today....all the decent signals came in yesterday evening (GMT)on all the major currencies ie.

GBP/USD + 300
EUR/USD + 250
GBP/JPY + 500
GBP/CHF + 300
EUR/JPY + 400

I watched all these trades happen and didnt profit a penny but hey just shows what can really be made from the correct use of this sniper system.

Looks like it could be Sterling/Euro end of week profit taking??

Dave
 
My demo has finished and I have decided ----to buy it. Sods law I was out yesterday afternoon /evening. Had a brilliant week last week with it. I keep making silly mistakes this week though. Never used a system before but kind of like the look of this , simple as well , providing you stick to the rules of it. I must say i have only found it useful for longer ( 2-3 hrs) trades as opposed to short ( minutes to 1 hour) trades.
 
I dont blame you for buying it. The best days this week where Monday morning and Thursday evening. The alerts on these days would have given hundereds of pips on each currency. The moves (small trend reversals) lasted over a 2 day period.

Sniper also working well with crude oil, given some excellent signals over the past few days but Im very warey of staying in these trades for too long !! Ive lost alot on cash in the past trading crude!!

Dave
 
The markets are never fair. Unless you`re winning. What I was referring to is that this is never going to work when you have largeish movements within a larger trend. Brave stops required unless you`re convinced of direction. Still trying to get used to holding positions and using my own money now instead of other peoples.
 
tommac said:
The markets are never fair. Unless you`re winning. What I was referring to is that this is never going to work when you have largeish movements within a larger trend. Brave stops required unless you`re convinced of direction. Still trying to get used to holding positions and using my own money now instead of other peoples.
Click to expand...

Ok,
But all these explainations of a systems failure Only mean either you are using a technique that is not in synch with your style of trading or its a no good system.

A lot of us on this forum use N.B's breakout strategy (which is free) and we do well we do not have to look for reasons why it did'nt work.

Today was a classic if you followed it you would have been up at least 600 points the weekly total is 1100 points simply following 4 pairs
 
I can`t disagree--I did in fact make 320 pips today-but not from this system. The system is only
£ 100 . So I bought it to run alongside my normal trading style as the demo was only a week. I shall continue running it for a while and see how it goes. If over the next few weeks it fails then i`ll dump it.
 
There is nothing special about this system, its basicly a breakout strategy. it will do well on days when the market moves in a clear direction and it will not do so well on choppy range bound days.

Its not a holy grail but just like N.Bs strategy some traders will make money using it whilst others will not.
 
Elefteros said:
There is nothing special about this system, its basicly a breakout strategy. it will do well on days when the market moves in a clear direction and it will not do so well on choppy range bound days.

Its not a holy grail but just like N.Bs strategy some traders will make money using it whilst others will not.
Click to expand...

I could'nt agree more.
I think unfortunately people are of the view that, you find a technique, you use it and hey presto!the pips come rolling in.

I believe that even(some) signal providers probably start off with good intentions but due to the constant variances of the market simply entering a trade setting a stop loss/take profit is not enough. Sometimes one has to come out with a small profit/loss sometimes let it run. How often has one entered a trade to see it immediately, go into a loss, even though you did your preparation, or it starts off going your way nicely, then turns around, just before it hits your T/P, and what was a nice trade is now a loss staring you in the face.

I know I swear by N.B's technique(God bless him) But just following his technique blindly will not work.I have my own additions which work for me but may not work for someone else.
You have to find a technique adapt to your style and hopefully it will work
 
[QUO.

Its not a holy grail but just like N.Bs strategy some traders will make money using it whilst others will not.[/QUOTE]
------------------------------------------------------------------------------------------------
Please tell me about N B and his strategy, is it on this thread ?
 
Is anybody still using this on a daily basis, and if so, is it performing well or not? Since my demo expired, I've been trying to teach myself to try and read the charts and try and figure out what's likely to happen, but, it's a long, mind numbing process and every time I see some light at the end of the tunnel, some ******* bricks it up.
 
Shark

pvisser said:
has anyone looked into the EA Shark Ultimate system? Anyone used it?
Click to expand...

Yes. I bought in yesterday and am paper-trading at the moment. Too early to give an opinion. First two trades were losses, but next four produced profits, then a third loss. Glad it wasn't real money. It's a system with a supposed 85% win/loss ratio, but the risk/reward ratio is adverse at 4:1, so the few losses are much bigger than the wins.

It will be brilliant if it proves itself, and I am thinking one should then just set it up on a VPS and let it run, no need even to have my PC on!

One slight problem is that the instructions are poorly translated from German, or written by a German who has a limited grasp of English, so are not always entirely succinct. I have some questions I am waiting to have answered, and the help desk has not yet responded.
 
Last edited:
wil68 said:
Is anybody still using this on a daily basis, and if so, is it performing well or not? Since my demo expired, I've been trying to teach myself to try and read the charts and try and figure out what's likely to happen, but, it's a long, mind numbing process and every time I see some light at the end of the tunnel, some ******* bricks it up.
Click to expand...

I have Sniper, but I must admit I find that is is effectivley just chasing the market, and altogether too stressful, like most trend following systems in my opinion.

You are right, it is mind numbing attempting to work out a system. Problem is, I find, that even with a system which looks as if it will work, I can never decide if it fails because of my psychology or because the system is inherently flawed!!! I find breakout strategies easier to manage, and am working on the idea of using fractals, and I think this is going to be my way forward. Too early to attempt description.
 
The 3 ducks has helped me determine the likely direction of the market and I have been studying NB strategy for a few days. Both are different systems, and basically straightforward. No holy grail yet, just hard work and a lot of reading. Did you ever pursue FX53? This was a system that did actually look quite good, but at the price with no trial and no guarantee, not worth a punt to find out.
 
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