Sniper Forex System

[splorff]

First of all then. I need to download Metatrader4 , then go to the download button @ Gary's sniper page.

 

[wil68]

samu, u r right it should work on all pairs and looking at today and yesterday i would have made many pips if i had been trading more then one pair. however it is supposed to be optimised for gbp/usd on the hourly timeframe so for the purposes of the one week trial i am only posting results doing what it says on the tin so that it helps others decide if they want to purchase this system or not.

"2nd trade on gbp/usd was short at 1.8237

Now the trade went the right way and 'if' you got out at the bottom you would have a gain of 64 pips and if i had been screen watching i may have bailed out as it pulled back to 50 pips. however doing this on a reguler basis would not give us a very good r:r and eventually we would probably go bust. I think you have to have the nerve to stick with the trend and get the homeruns.

I am going to make my exit the moment any of the 3 lines on the chart turn blue or when i get stopped out.

Elefteros, you are obviously an experienced FOREX trader so this may seem a daft question, but if you were able to make 50 or so pips per trade, how would you eventually go bust? Surely if the system proved to be accurate, trading several pairs a week, each making a relatively small gain, would add up to a healthy profit. I'm sure I read in Gary's info, that he recommends aiming for around 100 pip gain per day. Looking at this, it is seems that once you are trading for real, you really need to be at your PC most of the time to take full advantage, unless of course you have a real big pair of gonads and wait for the trend to change. A big difference to my normal EOD trading.

 

[samu2255]

looking forward

helo CF,

thanks for sticking to you guns( snipers guns), would like to see what wil be the result of that test ( 1 hr chart pair).

Its out of curiosity , but i wish to know if someone knows already , that even if it is a sytems you brought , ( for that matter any system developed by a third party) , it would take you atleast 6 months to take profit ? is this right ? looks like we need to keep learning on the system to make profit ?

also may be there are some systems that give us small profits (may be max 10 pips at a time, but guaranteed), is anyone aware of any such !!!

 

[melvynbailey]

Sandy,

You're definitely right about Gary answering quickly. I've been demoing Sniper this week. On Tues, my first trade, was up over 200 pips. On Wed. tested it with my live account, with conservative lot sizes. Earned 140 pips on GBP/USD.
Gary did caution me to enter ONLY when BOTH histograms (trend A and B) are in agreement with the sniper lines. I will be purchasing this indicator for sure before my demo expires.
Daryl

 

[melvynbailey]

I should qualify my last statement. The 200 pips I took on Tues was 3 separate trades.
Also, I mentioned to Gary that if looking at the 15, 30 or hrly charts at the same time I would often get different signals. He said to go with the hourly chart as it was designed for this time frame. Perhaps the 15 and 30 could be used for more of a scalping strategy.
Daryl

 

[Vaco]

Elefteros, you are obviously an experienced FOREX trader so this may seem a daft question, but if you were able to make 50 or so pips per trade, how would you eventually go bust? Surely if the system proved to be accurate, trading several pairs a week, each making a relatively small gain, would add up to a healthy profit. I'm sure I read in Gary's info, that he recommends aiming for around 100 pip gain per day. Looking at this, it is seems that once you are trading for real, you really need to be at your PC most of the time to take full advantage, unless of course you have a real big pair of gonads and wait for the trend to change. A big difference to my normal EOD trading.

Will,

No i must admit i am not an experienced forex trader however the system is designed to catch the trend and there is no profit target incorparated into the system. your options are to either ride out the trend until the lines start turning blue or scale out of your position at different profit targets, 25 50 ect.

Now lets say i bailed out on each winner at the 50 pip mark had 3 winning trades totalling 150 followed by a loser at 120, i have only made 30 pips. Lets say that i will have 70% winning trades 7*50 pips is 350 followed by 3 losers @120 is 360 and i am losing money.

Ofcourse i can always disregard the stoploss and put in my own tighter stop but this will result in more trades getting stopped out so does not improve the position.

gary suggests a target of 100 pips on the gbp/usd cross so if there is to be a set profit target it would have to be that.

Having said that we should never let winners turn into losers and i would be inclined to move the stop to breakeven once a trade is in profit by 25 pips.

 

[wilmer55]

I am trading it on 6 pairs and it works for all, although some are not as volatile as others for instance EURCHF was long trigger yesterday and it just puttered along not doing anything and I got out at break even before the end of the day, yet EURJPY went short over 24 hours and I took 150 pips. I only run itover the 1 hr time frame.

However, believe in the system because I didn't take the short entry on cable and missed out as I didn't think it would go much lower with oil on the up but what do I know!!

I was paper trading sniper fr 2 days. Yesterday I made a killing for almost all currencies, but today, it looks like the system alone is not going to help make decisions, i added pivot today, and looking at possibility of trends " 2 or 3 ducks", to see how it works. Also as a system, it should work for all currencies ?? not just one pair ( am i right ?)
Are you all using the same 1 hr chart, or looking at 15 min, 30 min etc .???
I have not concluded anything , still very open, any suggestions most welcome..

 

[melvynbailey]

I'm wondering, has anyone played with the SniperPeriod setting? The default setting is 30, being the most profitable over time. If you lower the sniperperiod value, you will receive more signals, but may not be as profitable. Has anyone tested this at lower values? I haven't, and most likely won't as it has already most likely been tested to death by Gary himself.
Daryl

 

[wilmer55]

Daryl, the sniper seeting Gary recommends on his installation instructions is the 1hour not 30. Although using I looked at the other settings but have not tested how profitable they are or how much work is involved with the constant alerts.

I'm wondering, has anyone played with the SniperPeriod setting? The default setting is 30, being the most profitable over time. If you lower the sniperperiod value, you will receive more signals, but may not be as profitable. Has anyone tested this at lower values? I haven't, and most likely won't as it has already most likely been tested to death by Gary himself.
Daryl

 

[melvynbailey]

Wilmer,
the setting of 30 I'm referring to isn't the time frame, it's the sniperperiod setting in the "inputs" tab when you install the sniper. 30 is the default number. I'm just wondering if anyone has altered it and what results they may have experienced.

 

[Vaco]

melvyn, no i have not messed with the parameters as i on the one week trial and simply wish to give the system a good test on the original setup.

Wilmer, i have also noticed that if i had traded the signals on all the pairs i've got on my screen i would have made many pips.

Just out of curiosity, what criteria are you using to get out of a trade thats running in profit? same question for trades in the red.

 

[wilmer55]

Sorry misunderstood.

Wilmer,
the setting of 30 I'm referring to isn't the time frame, it's the sniperperiod setting in the "inputs" tab when you install the sniper. 30 is the default number. I'm just wondering if anyone has altered it and what results they may have experienced.

 

[gonnamakeit]

seems very interesting and might give it a go..a few questions

1) i have Mt4 I have a demo account but where do I find the account number to enter for the demo for sniper

2) I find mt4 difficult to use and normally trade on ig…can I trade sniper on ig..or does anyone have any good instructions for mt4 ?

3) On mt4 im not sure how to directly trade

 

[SandyW]

1) i have Mt4 I have a demo account but where do I find the account number to enter for the demo for sniper

In MT4 go to View/Navigator/Accounts

2) I find mt4 difficult to use and normally trade on ig…can I trade sniper on ig..or does anyone have any good instructions for mt4 ?

You use MT4 and Sniper to read the signals. But you trade as normal on your IG account.

3) On mt4 im not sure how to directly trade

You can only use MT4 to directly trade on a Forex account, not on a spreadbet account

 

[brutusdog]

this can be found free on a torrent download if you search hard enough for those that are interested

 

[Vaco]

this can be found free on a torrent download if you search hard enough for those that are interested

Yes this is why gary now requests users mt4 account no for use with the software, to prevent any more piracy, To be fair to Gary though he does respond to all email queries regarding the sysyems use. The torrent download may have to be used if i'm still uncertain after the weeks trial but if i found myself using this to trade profitably in the future i would probably pay for it as well....karma and all that

 

[Depth Trade]

Yes this is why gary now requests users mt4 account no for use with the software, to prevent any more piracy, To be fair to Gary though he does respond to all email queries regarding the sysyems use. The torrent download may have to be used if i'm still uncertain after the weeks trial but if i found myself using this to trade profitably in the future i would probably pay for it as well....karma and all that

lol, ha

 

[Depth Trade]

Gary, I'd like to know what your smoking and where I can get some, because I can tell it's some good stuff.

 

[gonnamakeit]

thanks

just beginning to use the demo

im still trying to get all correct ... but am i right in saying that the stops are the dots either above or below the arrow....but arnt the stops huge !!

 

[Vaco]

thanks

just beginning to use the demo

im still trying to get all correct ... but am i right in saying that the stops are the dots either above or below the arrow....but arnt the stops huge !!

Yes the stops are 60 pips+ as with any system that tries to follow a new trend the indicators lag so the stop is wide so you dont get stopped out if there is an initial pullback after entry.

Glad i held onto my gbp/usd short currently 200 pips in the bag!!