Sniper Forex System

[ajnath]

Attached new version of Sniper EA Alerter with more info on the chart - see attached picture for details. Nothing regarding the events and reporting changed.

Suggestions welcome.

Jerry

Hello Pirc

am I correct in thinking this will alert me when the 2 trend indicators confirm an entry? I have placed the file into the expert folder added it to the chart, clicked the expert advisor button but do not get a smiley face, allthough the message does say initialised and running...Have I set this up correctly even though i dont see the smiley face?

Thanks

 

[GumRai]

The instructions with the Demo do state to set the stoploss 5 or 10 pips above/below the sniper stop. Regarding the trade on the 24th, if you'd set your stop at 5 above the sniper stop, you'd have been stopped. If you set it at 10 above, it got so close (taking into account the spread ) that you may have been stopped by some brokers, but not others.

 

[greenfield]

That's why I've told you before... I think it was you. That long term it's better not to use TP's...just enter whenever the EA says to go in and exit when stop loss hit or when the signal is reversed...

i've showed some tests already... in how you would've made for the last year with very simple money management strategies around 350% on your account 😉...............
QUOTE]

Hello salvadorveiga,
I agree with what you say. I don't think you need to convince me. You're probably talking to the wrong person. I've been trading to the rules (at least the ones I've got!) since April this year. In an earlier post I showed how these results compounded over 1, 2 years can add up in a big way.

But alongside each trade as per Sniper rules I also take out 1 TP trade. It's actually my version of the Sniper rule -
“Advanced Strategy: If your money management and equity allow...” The idea is to divide the trade into 5, exiting at 25 pts, 50 pts, 75 pts, 100 pts and letting the 5th lot ride the trend out.

Perhaps the best of both worlds. Actually I think discussion on the various ways people apply and change these rules is fine. We can all learn a lot. But, yes, we should always remember the system as it stands.
Bye,

 

[forexkunta]

That's why I've told you before... I think it was you. That long term it's better not to use TP's...just enter whenever the EA says to go in and exit when stop loss hit or when the signal is reversed...

i've showed some tests already... in how you would've made for the last year with very simple money management strategies around 350% on your account 😉...............
QUOTE]

Hello salvadorveiga,
I agree with what you say. I don't think you need to convince me. You're probably talking to the wrong person. I've been trading to the rules (at least the ones I've got!) since April this year. In an earlier post I showed how these results compounded over 1, 2 years can add up in a big way.

But alongside each trade as per Sniper rules I also take out 1 TP trade. It's actually my version of the Sniper rule -
“Advanced Strategy: If your money management and equity allow...” The idea is to divide the trade into 5, exiting at 25 pts, 50 pts, 75 pts, 100 pts and letting the 5th lot ride the trend out.

Perhaps the best of both worlds. Actually I think discussion on the various ways people apply and change these rules is fine. We can all learn a lot. But, yes, we should always remember the system as it stands.
Bye,

Well, I think that it doesn't matter how each person manages his t/p. That is up to every individual. The big thing is not actually how many pips you get, but let's face it, we are here for the money! End of story! MONEY! MONEY! MONEY! MOONNEYYY! So try to not get fired! by draining your capital.
The rules of every strategy is important! Use the rules properly, and the pips and money will follow. Not everyone is out for a 7000 pip trend. Some may be here for 10 pips per day. What ever your profit goal is, then that's what you should stick with. As a person gets comfortable with the system, then those goals will change and increase.

Kent

 

[poisonivy0]

this market is dead!
when the asian session open do they actually trade?

 

[FormulaOneFan]

this market is dead!
when the asian session open do they actually trade?

yep it is slow. we got short entry alert on cable but i didn't enter becos there isn't much going on. i found the market picks up nicely close to asian markets closing time.

 

[salvadorveiga]

That's why I've told you before... I think it was you. That long term it's better not to use TP's...just enter whenever the EA says to go in and exit when stop loss hit or when the signal is reversed...

i've showed some tests already... in how you would've made for the last year with very simple money management strategies around 350% on your account 😉...............
QUOTE]

Hello salvadorveiga,
I agree with what you say. I don't think you need to convince me. You're probably talking to the wrong person. I've been trading to the rules (at least the ones I've got!) since April this year. In an earlier post I showed how these results compounded over 1, 2 years can add up in a big way.

But alongside each trade as per Sniper rules I also take out 1 TP trade. It's actually my version of the Sniper rule -
“Advanced Strategy: If your money management and equity allow...” The idea is to divide the trade into 5, exiting at 25 pts, 50 pts, 75 pts, 100 pts and letting the 5th lot ride the trend out.

Perhaps the best of both worlds. Actually I think discussion on the various ways people apply and change these rules is fine. We can all learn a lot. But, yes, we should always remember the system as it stands.
Bye,

I don't think its in the trading rules per say... I think Gary says, "if youre more comfortable etc etc put TP's and scale out at targets" at least that's the idea that I got when I read from it...

 

[forexkunta]

this market is dead!
when the asian session open do they actually trade?

Toyoko will get cranked off in the next 60 min. gbpjpy is trying to get a move on now. A long entry is in the works on H1 has already signaled on 15M and 30M.
kent

 

[forexkunta]

Just went long on guppy

 

[forexkunta]

Sunny,
how is the reading coming?

 

[forexkunta]

Hey Sal, what's up

 

[forexsniper]

Sunny,
how is the reading coming?

i've start 🙂

i noticed you're long on guppy. i just exited a long on guppy...exit on H1. fairly good trade.

i'm short cable now...signal came during US session. its not going anywhere at the moment, but i just gotta keep following the system!

 

[forexkunta]

i've start 🙂

i noticed you're long on guppy. i just exited a long on guppy...exit on H1. fairly good trade.

i'm short cable now...signal came during US session. its not going anywhere at the moment, but i just gotta keep following the system!

Well, I went in on the 15M chart, with the idea that we were at the end of wave 2, and about to begin wave 3 which would be really good. So far, it is going short. My gut says stay in and wait for the turn, my head says take a little loss and get out. But, following the system says stay in till t/p or s/l. So, I too will follow the system.

Good, Bad, or Ugly!
Kent

 

[forexkunta]

Everything on all T/F's is showing a transition to a long trade, ie various indicators on each chart in blue. I do have my s/l set pretty tight, so that is what worries me.

 

[forexsniper]

Everything on all T/F's is showing a transition to a long trade, ie various indicators on each chart in blue. I do have my s/l set pretty tight, so that is what worries me.

good luck with it.

i'm signing off now until the european session starts. lets see where cable goes tonight. still going no where at the moment.

 

[fx_eagle]

smiley face from EA

Hello Pirc

am I correct in thinking this will alert me when the 2 trend indicators confirm an entry? I have placed the file into the expert folder added it to the chart, clicked the expert advisor button but do not get a smiley face, allthough the message does say initialised and running...Have I set this up correctly even though i dont see the smiley face?

Thanks

hi ajnath,
I will give you the info , may pircj busy.
this face from every EA will only smile if you go in the ExpertAdvisor->Properties from the Expert->Common and click for mark in the Live Trading area, for Allow live trading.

then the EA smile, coz can trading:clap:

 

[FormulaOneFan]

hey sunny, hope you had a good trading yesterday mate. I'm short on cable on demo account when i got the alert. not much activity so will wait just before europe session and then go in with live account.

i'm playing golf from 7am till 9am so i hope i dont miss it much.

 

[FormulaOneFan]

kent, are you still long on guppy?

 

[pircj]

Hello Pirc

am I correct in thinking this will alert me when the 2 trend indicators confirm an entry? I have placed the file into the expert folder added it to the chart, clicked the expert advisor button but do not get a smiley face, allthough the message does say initialised and running...Have I set this up correctly even though i dont see the smiley face?

Thanks

Hi,
as fx_eagle said, the smiley only is shown when you allow live trading. Please note that this alerter is not to be used for live trading, but only ALERTING - therefore do not allow live trading.

It says initializing and running which means all is ok if dots are also drawing and redrawing in the comment area. When there will be a new signal you will be alerted. Move to M1 chart and you can see how it works...

Please ask for further info if needed.

Jerry

 

[pircj]

Hi All,
it was written before (by Salvadore I think) it really does not matter how many pips you make, because your lot size WITH the number of pips will make your profits or losses.

And guys - when entering Sniper trades please not the Sniper stop or latest swing high/low which will give you SL level. Calculate the number of pips SL is away from your entry price and then calculate your position size never risking more than 1% of your equity (or up to 3% or even 5% for micro accounts). The reason one (don't remember who in this thread said that) went to almost zero his micro account is improper money management.

FYI on my 10kUSD account I never enter trade with more than 100pips SL beacuse this won't allow even one mini lot to be open and I want to risk not more than aroun 0,5% on any one trade... Hmmm, this probably tells a lot about how much capital you really need to trade correctly and without hazard and gambling - which always ends up in bankruptcy...

I do not agree though that it is not good to use two lots and closing one at say TP75 (accrding to greenfield's calculation sort of optimal) and put the other at that level at BE+1 and let it run until Sniper stop stops it. I think this is good strategy and also manual this is an Advanced Money Management but not everyone can do it because of the greater equity needed (see previous two paragraphs for explanation).

I am still hesitating to trade two lots - have to do some math and backtesting...

Let's elaborate on this "two lot" strategy together!

Greenfield thank you for your great contribution on this issue!!!

Regards, Jerry

Well, I think that it doesn't matter how each person manages his t/p. That is up to every individual. The big thing is not actually how many pips you get, but let's face it, we are here for the money! End of story! MONEY! MONEY! MONEY! MOONNEYYY! So try to not get fired! by draining your capital.
The rules of every strategy is important! Use the rules properly, and the pips and money will follow. Not everyone is out for a 7000 pip trend. Some may be here for 10 pips per day. What ever your profit goal is, then that's what you should stick with. As a person gets comfortable with the system, then those goals will change and increase.

Kent