Sniper Forex System

[forexkunta]

There was no Sniper stop showing. Usually it shows by dots. My understanding if there is no sniper stop showing then you use the last low on the candles just before the trade? It seems your suggesting if I see no Sniper Stop on the chart don't take the trade to keep you out of bad trades?

Possibly, in this particular case, that would have kept you out of the trade, hince no s/l hit. I have found that if you wait, the s/l never changes sides, then the worst that would have happened is you would have not been in a trade, that could have possibly gone bad.
I have seen this statement in other forums, and that is how I do it. I was not in that trade, because it never put the s/l where it should have been.

If you have to wait to go in until a s/l is placed correctly, you may lose a few pips profit, but avoid a potentially bad trade. That is up to you.
Just my 2 cents.
Regards,
Kent

 

[jshear]

Interesting idea I will start to use that as if this keeps me out of bad trades I am all for it!!


Thanks

Jeff

 

[forexkunta]

PS on my M30 chart there is a Sniper Stop showing when I took the trade!!

Well, if you are going to trade the M30, then trade the M30 start to finish. But dont get mad if you end up in bad trades. Using the 1H will keep you out of ranging markets, and if you decide to wait on the stop, then may keep you out of more. That is your decision, though. Go back in some history and look at the S.S. situation and see if it makes sense. I went into a trade on Gbp/jpy and the same thing happened today. the trade just has not gone anywhere, the dot is still short and I went long. i closed with 13 pips profit, after seeing it go up and down all day, since 8am this morning.
just my opinion and is what I do, usually.
trade the way you feel is best for you.
Regards,
Kent

 

[jshear]

I trade only the H1 not M30 but I look at M30 too. I too went into same GBP/JPY trade today as you. Yes there was no stop loss dots showing. I closed too with 10 pip profit!! My chart still shows staying in the GBP JPY trade I wasn't sure if I needed to close it but I thought it was end of US session so maybe I should?? Thanks for your help and support I appreciate it. May the pip be with us tomorrow!!

 

[ajnath]

Where was the Sniper stop when you took this trade? On my chart, it is still on the short side of the candles.
Wait for the Sniper Stop to go to the correct side and may help keep you out of bad trades.

Kent

Hi stop was at 1.6565. it was blue so on the correct side

 

[forexkunta]

Hi stop was at 1.6565. it was blue so on the correct side

Yep, i looked a little closer and I see it.
I just try not to take trades against a trend, and I feel like that is what a long trade would have been at that time. I could be wrong. That reasoning is what kept me out.
Regards,
Kent

 

[jshear]

Looks like I sold out of both trades too early GBP USD going up now and GBP JPY too!!

 

[fx_eagle]

new long trade

morning guys

I wake up now and see my last long was trigger the Sl 1.65642 thats a loser of 51.8 pips ok

but the funny is my EA open a new long 2hour 50 min after the loser, Alpari time 19:50
at price 1.65667 that trade is now in profit 48 pips, but the SL dots jump after the trade on the wrong up side
I make a stop at the last swing down 1.6552 -spread

thats my last alerts:
15 Sep 00:51 Enter Long at 1.65667
15 Sep 00:51 Set Initial SL at: 1.65642, Direction: up, TP at: ...
15 Sep 01:00 Sniper stop changed direction!
15 Sep 01:00 Set SL at: 1.66413, Direction: down
15 Sep 04:06 Set SL at: 1.66375, Direction: down
15 Sep 05:00 Set SL at: 1.66322, Direction: down
15 Sep 06:00 Set SL at: 1.66230, Direction: down

so hope this will go

see a lot of postings, thats fine , thanks for this thread stay alive
most of you in the europe or us , so I feel alone at the asian time, only my friend GumRai, where are you :cheesy:

 

[new2fx]

Yep, i looked a little closer and I see it.
I just try not to take trades against a trend, and I feel like that is what a long trade would have been at that time. I could be wrong. That reasoning is what kept me out.
Regards,
Kent

Hi Kent and everybody.

GUBBY 1HR CHART RSI was below 50 all day long until asian session @ 1:00 gmt when sniper stop flip to the long side. So it is better to wait for confirmation with RSI and sniper stops before opening a position.

 

[forexkunta]

Hi Kent and everybody.

GUBBY 1HR CHART RSI was below 50 all day long until asian session @ 1:00 gmt when sniper stop flip to the long side. So it is better to wait for confirmation with RSI and sniper stops before opening a position.

Those are the same confirmations that I use as well.Works pretty well. I just wish i had gone in on guppy. Went long on audjpy, so far in the minus. Should turn around in a little while.

 

[new2fx]

I went long on GBCHF @ 1.7204

 

[GumRai]

Hi all,

my internet packed up at the end of last week. I thought that it was the usual poor service that you get in Thailand playing up, but turns out that my air card modem was Kaput! Now it's being repaired under guarantee and they've lent me another so that I can get online again.
Still it gave me a chance to read "Trading Chaos" by Bill Williams. I think after reading it another 4 or 5 times I may well get to grips with it . Have you ever read it Kent? It does touch on EW theory, but with a different approach.

I wanted to keep a proper record of the sniper trades for September, but have lost the thread of things now since I attached that excel spreadsheet (happy that you found it useful Eagle). Maybe somebody else has kept it updated with real time alerts?
If anybody has a list of real time alerts for the last few trading days, can they post them please?

Looking over this market so far this month, it's been a killer for anyone trading lower than 4 hour timeframes. If the second half of this month continues the same as the first half and sniper manages to break even, then it will have done well. A system optimised for 1 hour charts has absolutely no chance in markets like this!

 

[forexkunta]

Hi all,


Still it gave me a chance to read "Trading Chaos" by Bill Williams. I think after reading it another 4 or 5 times I may well get to grips with it . Have you ever read it Kent? It does touch on EW theory, but with a different approach.

Hey GR,
No, I have not read the book

 

[fx_eagle]

my last long and new short

my last long was trigger the sl , but in + 18 pips.

now I in a short from last signal price 1.64965, in profit now ~ 40 pips.

I see many of my trades more then ~ 50 pips in + , but then loser or small winner, but that is the business.

BTW: Gary is around 80 pips in + this month to last friday and he make around 20 trades, I still think to follow the sys!


cheers

 

[fx_eagle]

Hi all,

my internet packed up at the end of last week. I thought that it was the usual poor service that you get in Thailand playing up, but turns out that my air card modem was Kaput! Now it's being repaired under guarantee and they've lent me another so that I can get online again.
Still it gave me a chance to read "Trading Chaos" by Bill Williams. I think after reading it another 4 or 5 times I may well get to grips with it . Have you ever read it Kent? It does touch on EW theory, but with a different approach.

I wanted to keep a proper record of the sniper trades for September, but have lost the thread of things now since I attached that excel spreadsheet (happy that you found it useful Eagle). Maybe somebody else has kept it updated with real time alerts?
If anybody has a list of real time alerts for the last few trading days, can they post them please?

Looking over this market so far this month, it's been a killer for anyone trading lower than 4 hour timeframes. If the second half of this month continues the same as the first half and sniper manages to break even, then it will have done well. A system optimised for 1 hour charts has absolutely no chance in markets like this!

hi GumRai WB ,
I have now also from True a flatrat mobile sim for 599.- baht /month for backup, can handle the mt4 for mobile now at my samsung omnia and connect by usb to my laptop and share the internet thats fine.
my TT& T dsl last friday and saturday was also down.

is a hard way here in Thai, but I also let running my mt4 at a VPS , I very content, it running 2 week now, only I have to learn to handle it all :cheesy:

 

[FDtrader]

Hi Kent and everybody.

GUBBY 1HR CHART RSI was below 50 all day long until asian session @ 1:00 gmt when sniper stop flip to the long side. So it is better to wait for confirmation with RSI and sniper stops before opening a position.

Please could you tell me,
how can I put and configure RSI in metatrader?
What confirmation I have to wait before opening position?

thanks a lot!

 

[GumRai]

Please could you tell me,
how can I put and configure RSI in metatrader?
What confirmation I have to wait before opening position?

thanks a lot!

Insert - indicators - oscillators - Relative Strength Index

It really is down to personal preferences as to how to use it. Many traders will wait for the RSI to move back to 50 (the middle) to confirm a trade.
Warning - never uses it to indicate oversold or undersold. In fact when it moves firmly into oversold/undersold it can be the indication that a very strong trend is underway. Use it to confirm, not as a sole indicator.
It can be a good indicator of the end of a trend when you see divergence between the RSI peaks/valleys and the price action

 

[pircj]

Pretty cool info here:
YouTube - FOREX VIDEO - PRE LONDON OUTLOOK SEPTEMBER 17TH 2009

Jerry

 

[GumRai]

Hi Jerry,
wow, that guy talks fast!! Looks interesting though.
Not much activity in this thread at the moment - shame, cos a nice little community going here.
Another loser yesterday with Cable, so not anything exciting happening.

 

[pircj]

This was one of the best things in some time - Kent wrote in our Skype chat:

[16.9.2009 18:40:52] Kent: I run Sniper on the 30M chart with email alert to my blackberry, so I will be notified of a possible trade a little sooner than on the 1H. just in case

This is excellent idea Kent. Thanks!

Ps. I hope you do not mind sharing it by myself to others...