Sniper Forex System

sunnywan said:
ok kent...just woke up to a nice short and i have to say i am very impressed :D

when you called the short and it was clearly going long, i thought you had started to become too confused with this EW :confused: you've developed a good level of accuracy with EW ;)
Click to expand...

Well, I was just a little off, by about 40 pips. If I had put my s/l at about 60 pips, instead of 35 I would have been ok. I took the short today when sniper alerted it, which was wave A, wave B is almost done, I hope, because I just went in with another .25 lot short. I could be wrong though.
Thanks for the vote of confidence.
EW amazes me more and more every day. If you had told me 6 months ago, that this was possible, I would have called you crazy.

Kent
 
Last edited:
New EA Alerter

Hi All,
attached is the new version of the EA Alerter for you to test.

Comments welcome!

Kr, Jerry
 

Attachments

  • Sniper Forex EA Alerter V2.ex4
    22.8 KB · Views: 332
Long signals on M15 at 1.6353 and M30 at 1.6361. On H1 still waiting for Trend B to reverse to long - we have sniper HMA lines turned to long already though...

I am expecting this to be a short retracement which would reverse and give us short signals soon after London open...
 
good luck on the Sniper advancements, guys.
This is turning into a top-class thread. Very informative and helpful. Keep it up.(y)

I am bailing out and returning to the Phil Nel 5-mins as back-up to my own system.
Will keep tabs on here, especially if I can find better exits for you.
Meantime, bye.
 
Greetings fellow traders. We are back after long weekend. Hope you all had a good long weekend.

Its trading time!
 
ajnath said:
Greenfield

Thanks for your comments, I'm going to drop Gary a note this evening asking him to provide me with his individual trades for August so that I can work through them and compare against my record. Regarding the trade you were stopped out on the 24th, Gary suggests to place the actual stop 10 points away from the sniper stop, maybe that's why he never was stopped out - I'm showing a 64 pip gain for a trade on the 24th.

Whilst I only accrued 98 pips during August through position sizing my entries I managed to make an 18% return on capital (risking 5% of total capital per trade) which in my opinion is quite respectable.
Click to expand...

Did you contact Gary and get a response?
 

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  • 6.gif
    6.gif
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Amended rules
As I was getting a little perplexed over references to stop loss rules that I didn't know about, I emailed Gary P. So he's sent the latest version of the rules. No major changes, and for people who use their own variation of Sniper or people who have started using the system just recently this won't be of any use.
But, the SL rule is now more specific - “placing a stop loss 5-10 pips below the most recent blue dot................” There are 2 additions – how to deal with signals already formed during the Asian session; and the question of open positions at market close on Friday.
I think it would have helped if everyone had been sent a copy of this. On the new version there is now a link at the bottom which goes to the latest version – which will be useful.
Anyway, at least now we're all singing from the same hymn sheet!
Bye,
 
I've been trying to keep a record of all trades indicated by Sniper since the beginning of the month. Unfortunately, I cannot be totally sure of entry and some exit levels. It does depend if you are sitting watching the screen at the time when all conditions are met.
I've tried to copy my results, but the numbers end up all over the place so will try an image.
(right click on image and open in new tab/window)
Does this seem about right to everyone so far this month?
 

Attachments

  • sniper results.JPG
    sniper results.JPG
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greenfield said:
Amended rules
As I was getting a little perplexed over references to stop loss rules that I didn't know about, I emailed Gary P. So he's sent the latest version of the rules. No major changes, and for people who use their own variation of Sniper or people who have started using the system just recently this won't be of any use.
But, the SL rule is now more specific - “placing a stop loss 5-10 pips below the most recent blue dot................” There are 2 additions – how to deal with signals already formed during the Asian session; and the question of open positions at market close on Friday.
I think it would have helped if everyone had been sent a copy of this. On the new version there is now a link at the bottom which goes to the latest version – which will be useful.
Anyway, at least now we're all singing from the same hymn sheet!
Bye,
Click to expand...

Hi Greenfield,
one of the problems with a system is that you have to follow the instructions exactly to know whether it is good or not. "Place the stoploss 5-10 pips further from the Sniper stop" is not really good enough. Do you place it 5 or 10 pips away? In a recent trade placing the stop 5 away would have resulted in you being stopped, but 10 would have kept you in.
I know that you have kept good records, but it appears that you have been using the Sniper stop as is for your stoplosses. If I remember rightly, you said that you have 50% winning trades and average of about 20 pips profit per trade. But I have to wonder, if stops were set at 10 pips further away from where you set them, how will that affect your figures?
5 or 10 pips may not sound much, but it can have quite an effect on the average gain.
 
Gum,

the point you are making will effect a minimal no of trades over the long run.

The only advice i can give you is to trust your eyes.

Go back throught the chart,

look at the sniper signals

look at what happens after them,

look at the sniper stops

see how price reacts to them,

then decide how you want to trade the system.

your risk tollerance and how much you want to take from each trade is very personnal.

Make the system your own.

This is the only way to grow in confidence as a trader.
 
GumRai said:
Hi Greenfield,
one of the problems with a system is that you have to follow the instructions exactly to know whether it is good or not. "Place the stoploss 5-10 pips further from the Sniper stop" is not really good enough. Do you place it 5 or 10 pips away? In a recent trade placing the stop 5 away would have resulted in you being stopped, but 10 would have kept you in.
I know that you have kept good records, but it appears that you have been using the Sniper stop as is for your stoplosses. If I remember rightly, you said that you have 50% winning trades and average of about 20 pips profit per trade. But I have to wonder, if stops were set at 10 pips further away from where you set them, how will that affect your figures?
5 or 10 pips may not sound much, but it can have quite an effect on the average gain.
Click to expand...
Hello GumRai,
The answer is – I don't know. Sorry! I could go back and look at the 130 trades that I've taken, but you'll forgive me if I don't! It's probably a question of swings and roundabouts.
Your record of September trades – that's close to what I have. I'm 3 pts up (not counting the long that closed Sept 1st - -11pts).
Bye,
 
greenfield said:
Hello GumRai,
The answer is – I don't know. Sorry! I could go back and look at the 130 trades that I've taken, but you'll forgive me if I don't! It's probably a question of swings and roundabouts.
Your record of September trades – that's close to what I have. I'm 3 pts up (not counting the long that closed Sept 1st - -11pts).
Bye,
Click to expand...

Of course, I wouldn't expect you to :)
Thanks for the confirmation of my figures for the month so far. I think that it is important to keep records, but it is very difficult unless you can sit at the computer 24 hours every day.
 
GumRai said:
Of course, I wouldn't expect you to :)
Thanks for the confirmation of my figures for the month so far. I think that it is important to keep records, but it is very difficult unless you can sit at the computer 24 hours every day.
Click to expand...

Hi Gumrai,
attached are my entries for Sniper H1 trades.

Well, you don't need to sit in front of the computer to get the entires. By setting email alerts you can get alerts by email - this is how I reworked these past entries into attached Excel file...

Jerry
 

Attachments

  • trades.xlsx
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pircj said:
Hi Gumrai,
attached are my entries for Sniper H1 trades.

Well, you don't need to sit in front of the computer to get the entires. By setting email alerts you can get alerts by email - this is how I reworked these past entries into attached Excel file...

Jerry
Click to expand...


Thanks Jerry, but I cannot view your spreadsheet with my version of Excel, don't know why but it just opens as a load of gobbledegook :)
 
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