Sniper Forex System

[GumRai]

It's a bit frustrating as I keep missing the good deals. Don't seem to miss any of the losers though ! :|
Still, it's good to know that the system is working and I hope that everybody else is getting rich
There can be no doubt that when the market is right this system DOES live up to it's claims so far.

 

[rossobonks]

Cable just bounced off the daily 20MA which has been the target since 1.6110. We could fall off from here on and maybe retest 1.61 again.

Have a good week everyone Im off till next Monday.

Dave

 

[ougoah]

Quit the trades after scalping some on cable and guppy (only 20 to 30 pips). Must say I didn't trade according to the Sniper's TP's, and risk was bigger.

 

[GumRai]

Cable just bounced off the daily 20MA which has been the target since 1.6110. We could fall off from here on and maybe retest 1.61 again.

Have a good week everyone Im off till next Monday.

Dave

I see that it has failed at the resistance formed by the high 28th Aug and of 1st Sept 8AM, and it did fall off a cliff from there!
We will have to see if it can go up and break through this resistance. If it does, it could well keep going for another 100 pips as I can't really see any more strong resistance lines until 1.6500.

 

[pircj]

Hi,
if anyone is using Mozilla Firefox, there is a great addon to show world clock in the toolbar. See attached picture.

Find addon here: https://addons.mozilla.org/en-US/firefox/addon/1117

 

[pircj]

Great post Kent. It's hellping me a lot understanding EW that I am studiing.

Appreciate your comments and hints on EW.

Thx.

Jerry

If this comes out it is the basic idea of what is going on in the big picture, so really the ranging is nothing more than a minor correction in the overall downward trend. This is my interpretation of the chart, 2be may be able to provide more info, or correct any discrepancies.
I feel like wave 3 extended, so usually wave 5 will truncate when that happens. So we may have somewhere around 1000 pips to go or so before the 5-3 wave is complete. But I could be off. Sometimes the only way to know for sure is when it is over.
Kent

 

[greenfield]

Good info,
can you let us know how the trades taking profit at 75 pips compared with the trades that ran their course?
thanks

Hello GumRai,
I've just been updating my records. It works out the same as I posted a few weeks ago – there's no difference! It's purely a psychological issue. There's quite a few trades where large gains disappear. So it feels good to close with 75 pts on a trade which would otherwise end up losing or breaking even. On the other hand a TP trade misses out on some of the big gains possible from Sniper (e.g. 374, 270, 470, 240, 187 and 195 pts).

Since 14 April, with 122 trades (101 days), letting each trade run its course, has resulted in an average of 23 pts a day/19 pts per trade. I haven't been noting all TP75 trades – my post this morning is all can show. (Also, I have only been using the 2 trade system for about 2-3 months.). What I have done is enter into a spreadsheet the maximum number of pts that could have been gained with each trade. It works out that with TP75, the average no of pts per day shows a gain of 23 pts a day (the same as the gain letting each trade run its course). TP95 shows 24 pts per day. The best result is TP 135 – 30pts per day. I'm not sure that I would be at ease putting in a TP at 135. Also, as I've stressed before, I need to question how statistically significant a list of 122 trades is. And, we no doubt enter at slightly different levels. So this shouldn't be seen as particularly exacting.

Now here's some completely useless information – the spreadsheet shows that IF it were possible to have taken the maximum no of pts possible per trade, it would mean an av per day of 136 pts, or 113 pts per trade!!! If only!

Bye,

 

[GumRai]

The GBP/USD has poked its head above the resistance level and failed to hold, but it seems to be persevering, tenacious little devil. If it does manage to break and close above resistance, those of you who are long could be getting Christmas early this year.
Let's hear it for the Pound, "Go on my son - you can do it"

Sorry if you think I'm crazy, just a bit of my strange humour. But I do find it useful to give a trade a bit of character.

 

[GumRai]

Sorry - double post

 

[forexkunta]

Great post Kent. It's hellping me a lot understanding EW that I am studiing.

Appreciate your comments and hints on EW.

Thx.

Jerry

Jerry,
I am glad you are learning EW. It will make a great difference in your trading. If you want to look at more go to salvador's blog. He posts charts pretty frequently. Not necessarily of the currency pairs, but it gives you a very good Idea on the counts.
Kent

 

[FormulaOneFan]

The GBP/USD has poked its head above the resistance level and failed to hold, but it seems to be persevering, tenacious little devil. If it does manage to break and close above resistance, those of you who are long could be getting Christmas early this year.
Let's hear it for the Pound, "Go on my son - you can do it"

Sorry if you think I'm crazy, just a bit of my strange humour. But I do find it useful to give a trade a bit of character.

lol. :cheesy:

 

[poisonivy0]

All my sniper buddies still riding this?

Been 6 profitable trading days in a row. Snipers doing well :clap:

 

[FormulaOneFan]

All my sniper buddies still riding this?

Been 6 profitable trading days in a row. Snipers doing well :clap:

may i know what are those green lines on the right in your chart mate?

 

[poisonivy0]

shows me Fibonacci Retracement & Extension Levels.
Click here for more info

 

[FormulaOneFan]

shows me Fibonacci Retracement & Extension Levels.
Click here for more info

if you don't mind me asking is it a MT4 plug-in (i.e. indicator)? can you share it with us?

 

[ajnath]

Hello all

I have been reading the thread with great interest for sometime as I have been using sniper for the past month. Gary recently posted his stats for August which show that he achieved over 600 pips during the month. I'm curious to see if anyone else here has managed to get anywhere near this.

I follow the system to exact rules with the exception of setting a 2:1 risk reward profit target, rather than wait until an opposing signal to close. During August I made around 63 pips so no where near Gary's results. During my trades I kept a record of the exit according to the sniper exit rules rather than using a profit target and it looks like I would have broke even for August

I'd appreciate any feedback from others on how August went

 

[poisonivy0]

if you don't mind me asking is it a MT4 plug-in (i.e. indicator)? can you share it with us?

Enjoy!

 

[GumRai]

Yet another overreaction to news from USA, this market is getting too sensitive

 

[FormulaOneFan]

Enjoy!

cheers mate.

 

[FormulaOneFan]

Yet another overreaction to news from USA, this market is getting too sensitive

what's the news? what did i miss?