Sniper Forex System

[italo79]

Hi guys...

Hi Guys,
I am wondering if you can help me out here. I am not new to trading and have used Sniper Forex for quite a few months now. My results have been positive overall but pulled out of the trade too soon out of nervousness. Therefore at times, my losses shadowed my takings.
Do any of you who've had good (brilliant ones will do as well ) experiences on Sniper Forex mind sharing your success strategies. I would also like to learn ideal time zones for GBP/USD and any other info you might think will help me.

I would really appreciate your help guys. Apologies if my question seemed a bit daft. I have undertaken Forex Trading on a part-time basis and I want to make this a full-time venture cos I'm sick of the rat race. I'm willing to learn and work hard on it.

Hear soon and Happy Trading.

 

[keithh]

Hi Guys,
I am wondering if you can help me out here. I am not new to trading and have used Sniper Forex for quite a few months now. My results have been positive overall but pulled out of the trade too soon out of nervousness. Therefore at times, my losses shadowed my takings.
Do any of you who've had good (brilliant ones will do as well ) experiences on Sniper Forex mind sharing your success strategies. I would also like to learn ideal time zones for GBP/USD and any other info you might think will help me.

I would really appreciate your help guys. Apologies if my question seemed a bit daft. I have undertaken Forex Trading on a part-time basis and I want to make this a full-time venture cos I'm sick of the rat race. I'm willing to learn and work hard on it.

Hear soon and Happy Trading.

To be honest it seems the problem is with your mindset rather than sniper, if you are in a positive position then you should be learning to trust the system and not second guess.

However we all do it sometimes, its better to set the trade and walk away and not sit there watching the screen as every little move makes you think something big is about to happen.

if you have garys manual it states the best time frame and hours to trade on the optimised GBP/USD. However there are other strategies that go well, some of which are mentioned earlier in this thread such as the three ducks approach, (three different time frames all pointing in the same direction).

still 90% of trading is in the mind. get the right mind set and you are almost there, the rest of trading is when to get in and when to get out which is what sniper helps you to do.


hope this helps

 

[italo79]

Cheers Keith

Cheers Keith
I agree with what you've said. To be honest, it's hard though. Im going to try 'placing the trade and walking away rather than watch the trade and worry' approach. Does Sniper Forex work for you mate?

Also, anybody got any feedback on Wildpips strategy at all? It looks like a safer, logical and practical approach to trading.

Thoughts?

To be honest it seems the problem is with your mindset rather than sniper, if you are in a positive position then you should be learning to trust the system and not second guess.

However we all do it sometimes, its better to set the trade and walk away and not sit there watching the screen as every little move makes you think something big is about to happen.

if you have garys manual it states the best time frame and hours to trade on the optimised GBP/USD. However there are other strategies that go well, some of which are mentioned earlier in this thread such as the three ducks approach, (three different time frames all pointing in the same direction).

still 90% of trading is in the mind. get the right mind set and you are almost there, the rest of trading is when to get in and when to get out which is what sniper helps you to do.


hope this helps

 

[keithh]

Cheers Keith
I agree with what you've said. To be honest, it's hard though. Im going to try 'placing the trade and walking away rather than watch the trade and worry' approach. Does Sniper Forex work for you mate?

Also, anybody got any feedback on Wildpips strategy at all? It looks like a safer, logical and practical approach to trading.

Thoughts?

I have to say that I personnally do not use sniper as I developed my own system . I did look at Sniper for a while and spent some time in dialogue with Gary as I was also interested to find out how sniper perormed on indices and still inmterested to see how it is doing and to help fellow traders if I can.

Seeing sniper helped me in defining my own system (indicators). Don't get me wrong there is nothing wrong with Sniper it is a good system in essence. I found that the time I could / wanted to spend trading I needed a shorter time frame. Sniper does work on shorter time frames but is not recommend by Gary, who am I to argue with the developer.

Anyway make sure you have set the stoploss as indicated if you have a profit traget set that also (I think gary suggests a daily target for forex) then leave it for an hour or two, watching the screen will not have any bearing on the market after all they don't know you are watching.

Generally I look for a win 2 loss ratio of 2:1 so for every winner I have it is twice as big as my losses so if I break even on trades 50 /50 I am still up overall. you will never win 100% of the time in this job.

if you need anyother help guidence just ask

Keith

 

[italo79]

Yes I do sir

I like the sniper as I know it works. However nervousness kicks in as I mentioned earlier, and then I take myself out of the trade. From now on, discipline I promise. Uptil now though, I have been trading on IG Index but Im planning on moving to Alpari. I know the tax implications of such but it would be easier to monitor my trades via Alpari as MT4 works in conjunction with them. What would you recommend to be my startup capital?

I like the short-frame ethic of yours. What system have you developed exactly and do you trade indices at all? If so, do you mind helping out an absolute novice in the world of trading mate?

I have to say that I personnally do not use sniper as I developed my own system . I did look at Sniper for a while and spent some time in dialogue with Gary as I was also interested to find out how sniper perormed on indices and still inmterested to see how it is doing and to help fellow traders if I can.

Seeing sniper helped me in defining my own system (indicators). Don't get me wrong there is nothing wrong with Sniper it is a good system in essence. I found that the time I could / wanted to spend trading I needed a shorter time frame. Sniper does work on shorter time frames but is not recommend by Gary, who am I to argue with the developer.

Anyway make sure you have set the stoploss as indicated if you have a profit traget set that also (I think gary suggests a daily target for forex) then leave it for an hour or two, watching the screen will not have any bearing on the market after all they don't know you are watching.

Generally I look for a win 2 loss ratio of 2:1 so for every winner I have it is twice as big as my losses so if I break even on trades 50 /50 I am still up overall. you will never win 100% of the time in this job.

if you need anyother help guidence just ask

Keith

 

[keithh]

I like the sniper as I know it works. However nervousness kicks in as I mentioned earlier, and then I take myself out of the trade. From now on, discipline I promise. Uptil now though, I have been trading on IG Index but Im planning on moving to Alpari. I know the tax implications of such but it would be easier to monitor my trades via Alpari as MT4 works in conjunction with them. What would you recommend to be my startup capital?

I like the short-frame ethic of yours. What system have you developed exactly and do you trade indices at all? If so, do you mind helping out an absolute novice in the world of trading mate?

no probs,

I also spreadbet which why i went the route of developing my own system. as as you mention no taxes.

as for stratup capital- several things are needed I will keep it simple I like simple as I am a simple person.

1.how much can you afford to lose. if cant afford to lose to dont trade.
2. how much do want to make a day / week/ month

as both will have a relevance to each other and also guide to how much start up you need as you also need to satisfy the intial margin requirement

as an example lets say you want to make £100 per day on the forex pair Eur/USD

each broker Sb co have there own margin req but lets say it is £125 per £1 bet if the trade goes against you you can get a margin call so then minimum would be £500 but before we go with that lets look at some other things we need to consider.

as guide you will only risk upto 3% of your bank ( most risk between 1 and 3%) trading is not a get rich scheme. you also need to allow for a run of losses with out losing your shirt (I have had a run of 10 loses in a row)

if I remember Sniper generally has as stop of around 50 pips

so if you risk 3% then you would need a bank of aorund £1500 and 35 would leave you with a rsik of £45 on a 50 pip stop loss. if the stop is hihegr than that you cannot trade as the risk is over 3% risk level.

to achive a risk reward of 2:1 (1.5 :1 absolule minimum) you would set 100 pips as your profit traget.

now lets assume that 100 pips on one trade isnt really going to happen every day ( or it can but we are not around to take advantage of it)

e.g. moving away from forex the current total daily move of the ftse 100 last month was 97.5 Pts for Jan it was 124.7. ( this is what I prefer to trade, hence why I have the facts). so iknow that if was to take a trade on the ftse to target 80 pts it is possible but i need to enter near the high of the day or the low of the day and exit near the low/ high of the day to achive this, now i know this is not going to generally happen. sothe only thing I can do is set a target which is more easily achiveable.

so let's say I set a daily target of 20 pts, this means a stop loss of no more than 10 pts

therefore if i want to make £100 pr day I need to place a trade of £5 per pt, my risk is £50 my reward is £100.

if my set up shows a stop loss of 8 pts can increase my stake to allow for the target of 16 pts, or you would need a second trade to make your daily target

now of course if we had a crystal ball and new that every trade we took would always make target we would do the lottery insteadand be done with it.


so to recap you need to know the market and current daily harmonic as it is called this can provide you with info on "is the rade realistic"

you need to set a target of what you want to make

you need to be sure that the money you are playing with is money you can lose. consider this for your minset

once you mkae the deposit that money has already been lost. plenty of people have had the bank wipeout syndrome me included.

if all things in the equation add up you will have your bank and the begining of your stratagy to work hand in glove with sniper.

I also advise that you also have an account with another SB co which gives you a demo account. that way you can work away developing you skills without losing any money. IG do not provide a demo account.


Shorter tiems frames and what i use i will do later as this is getting a bit long. enough to ponder for know. I need to close down and chill

Keith

 

[wildpips]

Hi italo79,

I sorry can't answer you earlier, as my time zone is in Kuala Lumpur, Malaysia.
Btw, what keithh is sharing are all good stuff. I do agree with the risk ratio taking at 2:1.
These ratios helps us, traders to make more money, eventhought the frequency of losses are more, BUT because of Big winners(ratio 2 or better) like lotery winners,aha, the smaller losses becomes likes dwarfs expenses. I hope to put it a good sense of humour.

Ok, regarding your question, what addition indicator that I use to help improve my trading strategy with SniperForex system. I use Bill William's AO(awesome ossllator default). As shown in the 2 chart below.

What the basic AO does, is to separates, the genuine Uptrend and genuine Downtrend,
the zero line in the middle of this indicator.(u can notice it, if u could display afull indicator page on your screen) Are you with me?

Now my strategy how use it with Sniperforex.

1)Ok let's take a look at 4 hour TFrame chart, its downtrend.and there is NO buy signal, right? So its still a confrim downtrend.
2)Let's take a look at 1hour Tframe chart, its uptrending with a BUY arrow, right?
3) Let's check the AO, on 1hr and 4hr charts, Both are still below zero line, which the
downlrend is still down.
4) So which means, the rise in the 1hour chart should be taken as a suspious rally.
Even though there is a BUY signal by Sniper forex on a 1hr chart, I prefer to play dump, I dont take that signal. I'll wait for an Opposite signal (sell signal) to happen.
(as shown in the 1hour chart.)

I hope you will try, not take every signals that you can see on Sniperforex as the
market may not be in a good mood all the time!

p/s Charts below are in 1hour and 4 hour time frame GbpUsd.

 

[patong]

Hi italo79,

I sorry can't answer you earlier, as my time zone is in Kuala Lumpur, Malaysia.
Btw, what keithh is sharing are all good stuff. I do agree with the risk ratio taking at 2:1.
These ratios helps us, traders to make more money, eventhought the frequency of losses are more, BUT because of Big winners(ratio 2 or better) like lotery winners,aha, the smaller losses becomes likes dwarfs expenses. I hope to put it a good sense of humour.

Ok, regarding your question, what addition indicator that I use to help improve my trading strategy with SniperForex system. I use Bill William's AO(awesome ossllator default). As shown in the 2 chart below.

What the basic AO does, is to separates, the genuine Uptrend and genuine Downtrend,
the zero line in the middle of this indicator.(u can notice it, if u could display afull indicator page on your screen) Are you with me?

Now my strategy how use it with Sniperforex.

1)Ok let's take a look at 4 hour TFrame chart, its downtrend.and there is NO buy signal, right? So its still a confrim downtrend.
2)Let's take a look at 1hour Tframe chart, its uptrending with a BUY arrow, right?
3) Let's check the AO, on 1hr and 4hr charts, Both are still below zero line, which the
downlrend is still down.
4) So which means, the rise in the 1hour chart should be taken as a suspious rally.
Even though there is a BUY signal by Sniper forex on a 1hr chart, I prefer to play dump, I dont take that signal. I'll wait for an Opposite signal (sell signal) to happen.
(as shown in the 1hour chart.)

I hope you will try, not take every signals that you can see on Sniperforex as the
market may not be in a good mood all the time!

p/s Charts below are in 1hour and 4 hour time frame GbpUsd.

Hi Wildpips.

Thanks for your explanation on using Sniper. I am going to try your system as ii have been following Gary"s preferred trading methods for Sniper with little success. After reading all the great reviews I thought this is worth ago. I then began the trial and was makiking money. Once purchased I followed the rules exactly apart from when big news items were due. I comtinued to loose money. No dought you have read my posts.

Now I want to point out I am a fullytime Trader, living in Thailand. I have been trading FX for five years successfully.

I deleted Sniper from my system for two weeks and just traded without SNIPER making some nice profits, yesterday 9/3/09 over 400 pips. ENTRY WAS 1.4259 STOP 1.4311.

ALL ANALYSIS DONE ON 1 HR 4HR DAILY. ALL WERE CONFIRMING

ENTRY BASSED ON TRADING AT RESISTANCE, AND CANDLE PATTERN. 2ND AND 3RD 4TH ENTRIES @ 1,4104 STOP 1.4190 I SCALED OUT OF POSITION AS THE PROFIT INCREASED LEAVING LAST POSITION IN PLAY AND STOP IN THE MONEY.

iN THIS TRADE I USED SNIPER AS A CONFIRMATION RATHER THAT AN ENTRY.

HERES WHY. MY AVERAGE COST PER ENTRY WAS AT 1.4181. LOT 1 WAS IN THE MONEY 133 PIPS BEFORE SNIPER GAVE A SIGNAL. MY RISK ON ENTRY WAS 52 PIPS.

SNIPER GAVE A BUY SIGNAL ON THE NEXT 1HR BAR @ AVERAGE 1.41266 STOP 1,4248

SNIPERS RISK ON ENTRY WAS 122 PIPS AND THE CALL WAS LATE COMPARED.

MY POINT IS SNIPER IS AN OK TOOL TO HAVE. i THINK IF YOU USE WITH OTHER INDICATORS THAT YOU UNDERSTAND ITS A VERY GOOD TOOL.

ALL I USED WAS S/R AND CANDLES PATERNS FOR THIS TRADE.

i HAVE JUST ENTER CABLE AT 1.3790 WITH A 40 PIP STOP USING SAME SYSTEM.

CHEERS






Here's one of my methods. I calculate pivots, then look for horizontl support and resistance levels,

 

[wildpips]

Hi Wildpigs or should that be Wildpips.

Thanks for your explanation on using Sniper. I am going to try your system as ii have been following Gary"s preferred trading methods for Sniper with little success. After reading all the great reviews I thought this is worth ago. I then began the trial and was makiking money. Once purchased I followed the rules exactly apart from when big news items were due. I comtinued to loose money. No dought you have read my posts.

Now I want to point out I am a fullytime Trader, living in Thailand. I have been trading FX for five years successfully.

I deleted Sniper from my system for two weeks and just traded without SNIPER making some nice profits, yesterday 9/3/09 over 400 pips. ENTRY WAS 1.4259 STOP 1.4311.

ALL ANALYSIS DONE ON 1 HR 4HR DAILY. ALL WERE CONFIRMING

ENTRY BASSED ON TRADING AT RESISTANCE, AND CANDLE PATTERN. 2ND AND 3RD 4TH ENTRIES @ 1,4104 STOP 1.4190 I SCALED OUT OF POSITION AS THE PROFIT INCREASED LEAVING LAST POSITION IN PLAY AND STOP IN THE MONEY.

iN THIS TRADE I USED SNIPER AS A CONFIRMATION RATHER THAT AN ENTRY.

HERES WHY. MY AVERAGE COST PER ENTRY WAS AT 1.4181. LOT 1 WAS IN THE MONEY 133 PIPS BEFORE SNIPER GAVE A SIGNAL. MY RISK ON ENTRY WAS 52 PIPS.

SNIPER GAVE A BUY SIGNAL ON THE NEXT 1HR BAR @ AVERAGE 1.41266 STOP 1,4248

SNIPERS RISK ON ENTRY WAS 122 PIPS AND THE CALL WAS LATE COMPARED.

MY POINT IS SNIPER IS AN OK TOOL TO HAVE. i THINK IF YOU USE WITH OTHER INDICATORS THAT YOU UNDERSTAND ITS A VERY GOOD TOOL.

ALL I USED WAS S/R AND CANDLES PATERNS FOR THIS TRADE.

i HAVE JUST ENTER CABLE AT 1.3790 WITH A 40 PIP STOP USING SAME SYSTEM.

CHEERS






Here's one of my methods. I calculate pivots, then look for horizontl support and resistance levels,

Hi patong,

haha I know its hurts seeing others making money from the same system we trade.
Ok I had my share of down experience, but can't let my devil's workshop mind stay frozen. So i try to combine with other systems as well. So far i have tried with 7 others
indicators including bollinger band to work with. But the best is with the AO, since sniperforex is a trending/swing trading system. I dont think it works in ranging market.

well, did you enter long at 1.3790?

Good luck.

 

[wildpips]

Hi Wildpigs or should that be Wildpips.

Thanks for your explanation on using Sniper. I am going to try your system as ii have been following Gary"s preferred trading methods for Sniper with little success. After reading all the great reviews I thought this is worth ago. I then began the trial and was makiking money. Once purchased I followed the rules exactly apart from when big news items were due. I comtinued to loose money. No dought you have read my posts.

Now I want to point out I am a fullytime Trader, living in Thailand. I have been trading FX for five years successfully.

I deleted Sniper from my system for two weeks and just traded without SNIPER making some nice profits, yesterday 9/3/09 over 400 pips. ENTRY WAS 1.4259 STOP 1.4311.

ALL ANALYSIS DONE ON 1 HR 4HR DAILY. ALL WERE CONFIRMING

ENTRY BASSED ON TRADING AT RESISTANCE, AND CANDLE PATTERN. 2ND AND 3RD 4TH ENTRIES @ 1,4104 STOP 1.4190 I SCALED OUT OF POSITION AS THE PROFIT INCREASED LEAVING LAST POSITION IN PLAY AND STOP IN THE MONEY.

iN THIS TRADE I USED SNIPER AS A CONFIRMATION RATHER THAT AN ENTRY.

HERES WHY. MY AVERAGE COST PER ENTRY WAS AT 1.4181. LOT 1 WAS IN THE MONEY 133 PIPS BEFORE SNIPER GAVE A SIGNAL. MY RISK ON ENTRY WAS 52 PIPS.

SNIPER GAVE A BUY SIGNAL ON THE NEXT 1HR BAR @ AVERAGE 1.41266 STOP 1,4248

SNIPERS RISK ON ENTRY WAS 122 PIPS AND THE CALL WAS LATE COMPARED.

MY POINT IS SNIPER IS AN OK TOOL TO HAVE. i THINK IF YOU USE WITH OTHER INDICATORS THAT YOU UNDERSTAND ITS A VERY GOOD TOOL.

ALL I USED WAS S/R AND CANDLES PATERNS FOR THIS TRADE.

i HAVE JUST ENTER CABLE AT 1.3790 WITH A 40 PIP STOP USING SAME SYSTEM.

CHEERS






Here's one of my methods. I calculate pivots, then look for horizontl support and resistance levels,

Hi patong,

haha I know its hurts seeing others making money from the same system we trade.
Ok I had my share of down experience, but can't let my devil's workshop mind stay frozen. So i try to combine with other systems as well. So far i have tried with 7 others
indicators including bollinger band to work with. But the best is with the AO, since sniperforex is a trending/swing trading system. I dont think it works in ranging market.

well, did you enter long at 1.3790?

Good luck.

 

[patong]

Hi patong,

haha I know its hurts seeing others making money from the same system we trade.
Ok I had my share of down experience, but can't let my devil's workshop mind stay frozen. So i try to combine with other systems as well. So far i have tried with 7 others
indicators including bollinger band to work with. But the best is with the AO, since sniperforex is a trending/swing trading system. I dont think it works in ranging market.

well, did you enter long at 1.3790?

have the ao up and running now.



cheers

Good luck.

Wildpips.

Am long at 1.3771 changed stop t0 1.3729

Think there has to be some good action here soon. Its hitting resistance at 1.3849 , not alot of downside from here heavy support at 3759 and 3747ish apart from that don,t think alot can go wrong

Are you seeing much with it?

cheers

 

[wildpips]

Wildpigs.

Am long at 1.3771 changed stop t0 1.3729

Think there has to be some good action here soon. Its hitting resistance at 1.3849 , not alot of downside from here heavy support at 3759 and 3747ish apart from that don,t think alot can go wrong

Are you seeing much with it?

cheers

My AO (awesome ossilator running at default mt4) for 1hour and 4hours is in downtrend.
GU and GJ appears weak.

 

[patong]

My AO (awesome ossilator running at default mt4) for 1hour and 4hours is in downtrend.
GU and GJ appears weak.

GU AND GJ ?

Am looking at the AO MT4 default. I see a trend is changing . we have the blue bars on the hourly decreasing in length and one blue bar on the 4 hr. Does this not indicate a trend change in the future.

This the first time i have looked at this indicator. Please correct me.

Long UsdCad at 1.2907 stop 1.2878

Patong

 

[wildpips]

GU AND GJ ?

Am looking at the AO MT4 default. I see a trend is changing . we have the blue bars on the hourly decreasing in length and one blue bar on the 4 hr. Does this not indicate a trend change in the future.

This the first time i have looked at this indicator. Please correct me.

Long UsdCad at 1.2907 stop 1.2878

Patong

Ok , to read the AO, you just have to watch, "does it cross the zero line or not." IF it crosses above zero, then its uptrending, otherwise the rally/rise is still suspicious. Likewise versi versa for downtrend.
The bars in the AO, does indicates many more but let's keep it simple for now.

For UsdCad, if you can,dont go long yet. wait for a good short,the 1hr AO seems to penetrates down into the minus territory of zero line of A0 indi.

 

[keithh]

My AO (awesome ossilator running at default mt4) for 1hour and 4hours is in downtrend.
GU and GJ appears weak.

Hi Guys,

nice to see the discussion progressing in a positive manner to help everyone. One point try not to get too many ideas floating around as it can then cloud over what works "cant see the wood for the trees" syndrome.

the point is that there are many ways to trade some work well for some peopel and not for others as the mid set has a key role to play.

eg. a fellow trader of mine likes to take a postion and then hold it for days on end comfortable in his mind that at some point the market will move in his direction. now lets say he took a position on Monday to go long. currently at the close of the day the market went against him for most of the day but finaly finished up by 20 pips or so. my feelow trader smiled and said see i was right.

just think of all the emotion he went through watching the postion move against him and looking at a possible of over 100 pips?

that way of trading for some would put them into a early grave.

Now the opposite side is through analysis I note a trend change a take a postion to go short knowing that at most i will only be in the postion for a matter of mins / Hour's as opposed to the whole day.

as suggested by my analysis the market did move down and got close / hit my target and i close the postion. now I am happy for the rest of the day not wondering if I have made profit or not.


My fellow trader says but what if you lost, you would have to trade again and again to break even/ make profit

so you see it comes down to mind set,

you need to establish what kind of trader you are? look at your emotions when you trade

are you on the edge of your seat or relaxed and calm. in both examples you need to be calm of course, but for how long can you remain calm.

if necessary keep a diary of when you trade, how you felt, if you had a winner or not. it can be quite revealing.

trading really is about control:

control you emotions,
control your money through good solid money managment.

so you can handle the loss when it happens

Keith

may your day be full of winners and few losers.

 

[keithh]

To answer the other question "what do i do" well

rules for trading.

moving averages

to take a long

5 (red) exponential moving average (ema) must be above the
7 (blue) ema

both 5 and 7 must be above the 13 ema

the 13 ema must be above the 21 ema

all must be above the 60 Simple moving average (sma)

the Relative strength index (RSI) canot be above 70 idealy would be around 50

if all these conditions are met the odds are in your favor to take a trade.

the stop loss can be place just below/ around the recent low area.

the differance between your potential entry and stop loss gives you the potential target at 2:1 provideing the stop is within your money managment place the trade.

as i mentioned before I trade mainly the FTSe 100 cash on a 3min / 5 min time frame. i have uesed it on forex using a 15 min 1 hour time frame.

of course everyone can pull out a chart which shows a wining trade and perfect set up.

so i suggest if you want to try it do so on a demo account and see how it goes for you, you will also note that it can provide signals close to sniper.

also i cannot expalin everything here but as i always find that i am better at taking than writing so any other questions Private Message me and i will do my best to answer.

now the legal bit

NOTE:

it is not fool proof nor do I GAURANTEE WINNERS my system will only guide on a potential trade setup. you trade at your own risk

hope this helps and not confuse anyone


Keith

happy to help

EDIT

Wrong charton this post - see next post

 

[keithh]

To answer the other question "what do i do" well

rules for trading.

moving averages

to take a long

5 (red) exponential moving average (ema) must be above the
7 (blue) ema

both 5 and 7 must be above the 13 ema

the 13 ema must be above the 21 ema

all must be above the 60 Simple moving average (sma)

the Relative strength index (RSI) canot be above 70 idealy would be around 50

if all these conditions are met the odds are in your favor to take a trade.

the stop loss can be place just below/ around the recent low area.

the differance between your potential entry and stop loss gives you the potential target at 2:1 provideing the stop is within your money managment place the trade.

as i mentioned before I trade mainly the FTSe 100 cash on a 3min / 5 min time frame. i have uesed it on forex using a 15 min 1 hour time frame.

of course everyone can pull out a chart which shows a wining trade and perfect set up.

so i suggest if you want to try it do so on a demo account and see how it goes for you, you will also note that it can provide signals close to sniper.

also i cannot expalin everything here but as i always find that i am better at taking than writing so any other questions Private Message me and i will do my best to answer.

now the legal bit

NOTE:

it is not fool proof nor do I GAURANTEE WINNERS my system will only guide on a potential trade setup. you trade at your own risk

hope this helps and not confuse anyone


Keith

happy to help

Sorry wrong chart in the last post

 

[patong]

Wildpigs.

Am long at 1.3771 changed stop t0 1.3729

Think there has to be some good action here soon. Its hitting resistance at 1.3849 , not alot of downside from here heavy support at 3759 and 3747ish apart from that don,t think alot can go wrong

Are you seeing much with it?

cheers

Cable

First target hit plus 100 pips stop remains

 

[italo79]

Cheers Wildpips

Right as per my understanding, and forgive my daftness in this matter,
If there is a buy pressure (blue histograms appearing above the zero line on AO), and if both the 1hr and 4hr charts confirm the same (i.e. show buy signals). Then I go for the trade. GO LONG as the oscillator indicates an upward trend
If there is sell pressure (red histograms appearing below the zero line on AO) and both the 1hr and 4hr charts confirm the same (i.e. show sell signals). I go short.

If the 4hr chart is showing sell signal and the 1 hr chart is showing buy signal - Then I study the AO for a sign. So if the AO shows buying pressure, then I wait for the 4hr chart to show me a buy signal before I go LONG.
However, as you mentioned earlier, if the oscillator showing red histos below the zero line, then the trend is still a downward one. So I would wait again for the 1hr chart to show sell before I go short again.

Please confirm guys...

PS: Where do I get this Bill William's AO?

Hi italo79,

I sorry can't answer you earlier, as my time zone is in Kuala Lumpur, Malaysia.
Btw, what keithh is sharing are all good stuff. I do agree with the risk ratio taking at 2:1.
These ratios helps us, traders to make more money, eventhought the frequency of losses are more, BUT because of Big winners(ratio 2 or better) like lotery winners,aha, the smaller losses becomes likes dwarfs expenses. I hope to put it a good sense of humour.

Ok, regarding your question, what addition indicator that I use to help improve my trading strategy with SniperForex system. I use Bill William's AO(awesome ossllator default). As shown in the 2 chart below.

What the basic AO does, is to separates, the genuine Uptrend and genuine Downtrend,
the zero line in the middle of this indicator.(u can notice it, if u could display afull indicator page on your screen) Are you with me?

Now my strategy how use it with Sniperforex.

1)Ok let's take a look at 4 hour TFrame chart, its downtrend.and there is NO buy signal, right? So its still a confrim downtrend.
2)Let's take a look at 1hour Tframe chart, its uptrending with a BUY arrow, right?
3) Let's check the AO, on 1hr and 4hr charts, Both are still below zero line, which the
downlrend is still down.
4) So which means, the rise in the 1hour chart should be taken as a suspious rally.
Even though there is a BUY signal by Sniper forex on a 1hr chart, I prefer to play dump, I dont take that signal. I'll wait for an Opposite signal (sell signal) to happen.
(as shown in the 1hour chart.)

I hope you will try, not take every signals that you can see on Sniperforex as the
market may not be in a good mood all the time!

p/s Charts below are in 1hour and 4 hour time frame GbpUsd.

 

[patong]

Right as per my understanding, and forgive my daftness in this matter,
If there is a buy pressure (blue histograms appearing above the zero line on AO), and if both the 1hr and 4hr charts confirm the same (i.e. show buy signals). Then I go for the trade. GO LONG as the oscillator indicates an upward trend
If there is sell pressure (red histograms appearing below the zero line on AO) and both the 1hr and 4hr charts confirm the same (i.e. show sell signals). I go short.

If the 4hr chart is showing sell signal and the 1 hr chart is showing buy signal - Then I study the AO for a sign. So if the AO shows buying pressure, then I wait for the 4hr chart to show me a buy signal before I go LONG.
However, as you mentioned earlier, if the oscillator showing red histos below the zero line, then the trend is still a downward one. So I would wait again for the 1hr chart to show sell before I go short again.

Please confirm guys...

PS: Where do I get this Bill William's AO?

If you use MT4 just go to INSERT, INDICSTORS, BILL WILLIAMS, iF U USE OTHER PLATFORM I DON.T KNOW.

ARE IN KL?


CHEERS