Sniper Forex System

[salvadorveiga]

Dear Mr. F1F,

Dear Sir, I apologise for this unrelated question but ask you as you are based in UK.
Someone I do not know well has recommended www.finotec.co,uk as good broker for Forex. You have long experience. Can you please advise me about their solidity - I am planning an investment of 50k USD. You may reply to my private email address if you do not like to go on open forum with your opinion. It is under < [email protected] >.

Good Luck with GBP - I trade it too. it has gone down a lot but I am not sure if it is turning even now ! I am on sidelines. Would post if I jump either way.

With Regards,

Vilas.

check Financial Data for FCMs

and see the list... if they have a good excess net capital then they should be ok... if it doesn't show there or if they are low capitalized i would look for a better looking broker, a more secure one regarding safety

especially with that kind of amounts...

 

[fx_eagle]

Dear Mr. F1F,

Dear Sir, I apologise for this unrelated question but ask you as you are based in UK.
Someone I do not know well has recommended www.finotec.co,uk as good broker for Forex. You have long experience. Can you please advise me about their solidity - I am planning an investment of 50k USD. You may reply to my private email address if you do not like to go on open forum with your opinion. It is under < [email protected] >.

Good Luck with GBP - I trade it too. it has gone down a lot but I am not sure if it is turning even now ! I am on sidelines. Would post if I jump either way.

With Regards,

Vilas.

Hi Vilas,

be carefull if you want to trade by this amount, a good overview if you look in the web like here for a broker

Finotec Reviews | Finotec Forex Ratings | Finotec.com reviews and ratings by Forex Peace Army

I have my capital not by one broker, I never give them more then 20K, better less

dukascopy and interactivebrokers are good one for me for bigger $$ , at dukas you have to open by 50k, but I withdraw after open to less amout immediately.

cheers

 

[FormulaOneFan]

Dear Mr. F1F,

Dear Sir, I apologise for this unrelated question but ask you as you are based in UK.
Someone I do not know well has recommended www.finotec.co,uk as good broker for Forex. You have long experience. Can you please advise me about their solidity - I am planning an investment of 50k USD. You may reply to my private email address if you do not like to go on open forum with your opinion. It is under < [email protected] >.

Good Luck with GBP - I trade it too. it has gone down a lot but I am not sure if it is turning even now ! I am on sidelines. Would post if I jump either way.

With Regards,

Vilas.

Vilas, to be very honest with you I don't have long experience. I'm a beginner in forex. Also I don't use any forex brokers. As I'm in UK I use spread betting. I use IG index for spread betting. Spread betting is available to only UK residents and it is tax free in UK.

I'm not that experienced to advise about brokers but this forum has loads of topic regarding forex brokers and loads of experienced traders who maybe able to help.

All the best.

 

[greenfield]

Hello GumRai, F1F, fx_eagle et al,
I can understand why people are staying away from trading Sniper signals at the moment as there have been quite a few losing trades recently. The trouble is that along come one or more winning trades. If I knew how to differentiate between winning and losing trades – I would; I would also be extremely wealthy! But I haven't particularly great skills when it comes to technical analysis. That's why I take every trade – it's actually how Sniper is designed to be used. Although I realize that people use Sniper in different ways quite successfully. But, in taking every trade, while we have to put up with a few losers, suddenly along comes Thursday evening's trade – stopped out at 222.5 pts. I'm still confident that this is the way to go with Sniper.

The figures I have trading Sniper for 5 months, work out at an average of 21 pts a day/17 pts a trade. I've put together a chart (attached) showing the points gained/lost since April. If that were a chart of a company share, I would be very pleased to have been in there since April!
Bye,

 

[FormulaOneFan]

Hello GumRai, F1F, fx_eagle et al,
I can understand why people are staying away from trading Sniper signals at the moment as there have been quite a few losing trades recently. The trouble is that along come one or more winning trades. If I knew how to differentiate between winning and losing trades – I would; I would also be extremely wealthy! But I haven't particularly great skills when it comes to technical analysis. That's why I take every trade – it's actually how Sniper is designed to be used. Although I realize that people use Sniper in different ways quite successfully. But, in taking every trade, while we have to put up with a few losers, suddenly along comes Thursday evening's trade – stopped out at 222.5 pts. I'm still confident that this is the way to go with Sniper.

The figures I have trading Sniper for 5 months, work out at an average of 21 pts a day/17 pts a trade. I've put together a chart (attached) showing the points gained/lost since April. If that were a chart of a company share, I would be very pleased to have been in there since April!
Bye,

Thanks for sharing with us your chart and information about sniper. Like you say with the late number of losses with sniper I was very cautious with sniper and didn't go in when sniper gave the alert. Like you said if we simply follow sniper rules and enter on each alert we will be in profit but that profit depends on your exit strategy as well.

I'm not that brilliant and still learning technical analysis and I have been looking for that extra edge which confirms the sniper alert. So basically sniper plus another system that will confirm the trend and that should do nicely. I know I would have to work extremely hard for that additional system to confirm the trend and I'm working hard and hope to get there.

 

[salvadorveiga]

Hello GumRai, F1F, fx_eagle et al,
I can understand why people are staying away from trading Sniper signals at the moment as there have been quite a few losing trades recently. The trouble is that along come one or more winning trades. If I knew how to differentiate between winning and losing trades – I would; I would also be extremely wealthy! But I haven't particularly great skills when it comes to technical analysis. That's why I take every trade – it's actually how Sniper is designed to be used. Although I realize that people use Sniper in different ways quite successfully. But, in taking every trade, while we have to put up with a few losers, suddenly along comes Thursday evening's trade – stopped out at 222.5 pts. I'm still confident that this is the way to go with Sniper.

The figures I have trading Sniper for 5 months, work out at an average of 21 pts a day/17 pts a trade. I've put together a chart (attached) showing the points gained/lost since April. If that were a chart of a company share, I would be very pleased to have been in there since April!
Bye,

that's why I say to trade every damn single we never know when the big one comes along... if one is worried about drawdowns I have found a good technique that has improved my performance...

I use equity curve trading. What is this you ask? Well if you record your results, and have an equity graph of your account I just put a moving average on my equity graph...

One can make the criteria anyone wants, for example when equity price is over moving average trade more agressively... if it goes under cut down the risk... or you can stop trading whenever the equity value goes below the MA and restart trading once it goes over it again...

What I do is I risk 2% whenever equity value is over the MA, and risk 1% when it's under the MA...

by the way that's a damn nice chart... what did you use to create it? Excel ?


EDIT: By the way have you computed how large is your average winner versus the average loser etc?

 

[forexkunta]

Hello GumRai, F1F, fx_eagle et al,
I can understand why people are staying away from trading Sniper signals at the moment as there have been quite a few losing trades recently. The trouble is that along come one or more winning trades. If I knew how to differentiate between winning and losing trades – I would; I would also be extremely wealthy! But I haven't particularly great skills when it comes to technical analysis. That's why I take every trade – it's actually how Sniper is designed to be used. Although I realize that people use Sniper in different ways quite successfully. But, in taking every trade, while we have to put up with a few losers, suddenly along comes Thursday evening's trade – stopped out at 222.5 pts. I'm still confident that this is the way to go with Sniper.

The figures I have trading Sniper for 5 months, work out at an average of 21 pts a day/17 pts a trade. I've put together a chart (attached) showing the points gained/lost since April. If that were a chart of a company share, I would be very pleased to have been in there since April!
Bye,

GF,
You are an absolute credit to the Sniper trading system. Yes, I would love to be that company, and you just keep up the good work. I personally have had the last 5 trades blow up on me, and no, not all of them were Sniper alerts. 3 were on the 30M chart and didnt go the way I was hoping. But my Money management says I am ok. Keep up the good trading
Kent

 

[forexkunta]

yeah guys,

this last short is now more than 300 pips, wow, I take out last week at 150 pips the most from my trade and now only 0.01 standardlot, this have ~ +300 now.
thats are the long runner what make this sys to are winner over the month, but if you miss one like this, it will change you to a loser.

so is the ? , my decision last week to take out at a nice support for 150 pips, was ok, but I think after a nice pullback must go in again. then in the end, the long runner make this sys to a winner!

hope this week will have more good trades for us
cheers

Eagle,
Congrats on your big win. Always good to see fellow snipers follow the rules and profit from it.
Kent

 

[fx_eagle]

Hello GumRai, F1F, fx_eagle et al,
I can understand why people are staying away from trading Sniper ......
But, in taking every trade, while we have to put up with a few losers, suddenly along comes Thursday evening's trade – stopped out at 222.5 pts. I'm still confident that this is the way to go with Sniper.

The figures I have trading Sniper for 5 months, work out at an average of 21 pts a day/17 pts a trade. I've put together a chart (attached) showing the points gained/lost since April. If that were a chart of a company share, I would be very pleased to have been in there since April!
Bye,

hi greenfield,

thx for your great work!
that also give me more confidence in this system.
I also think let follow this system according to the rules and you will successful.

the idea behind this system is , we know the cable move often in the month hundreds of pips in one direction, so you have to follow every move to catch them all.
only you have to make a sys was balance entry and exit, and the sniper make this job as a KISS system in a easy way.
so we can trust in this system as long the cable pair not significant change his behavior.

so not make this system complicate and not let your emotion change some rules and you will successful.

I only try to make this sys running in a perfect environment, so I not miss a trade.
I open a VPS , and let handle the trades , thx pircj, from the EA.
and let me inform by sms to my mobile , so I can check all running perfect and only move the SL :cheesy:

so the hundreds of pips with us

cheers

 

[fx_eagle]

Eagle,
Congrats on your big win. Always good to see fellow snipers follow the rules and profit from it.
Kent

thx Kent,

I hope you also make $$

let us make $$ in a easy short way, to have time for a nice life!

cheers

 

[ajnath]

Eagle,
Congrats on your big win. Always good to see fellow snipers follow the rules and profit from it.
Kent

Technically no one would have made 300+ pips on thursday's trade as you should have closed the trade on Friday evening, if you were explicitly following the rules

 

[GumRai]

Technically no one would have made 300+ pips on thursday's trade as you should have closed the trade on Friday evening, if you were explicitly following the rules

Are you sure about that?
I'm not sure that it is an actual rule. I believe that you are advised not to open a new trade late Friday, but if a trade is open and in profit, I'm pretty sure that Gary said somewhere to let it run.
I think that it's a bit of a grey area.
The actual words used are...

Beware the opening gap! This is the difference between Friday’s close and Sunday’s open.
In this example it is -+ 50 pips, but there are far worse examples. It is usually best to close any open
positions before market close on Friday.

So not exactly a rule as you are not told to actually close a trade, just that it is usually best to close it.
Much the same as the advice not to enter a trade when signalled after a long candle, not exactly a rule.

 

[ajnath]

Are you sure about that?
I'm not sure that it is an actual rule. I believe that you are advised not to open a new trade late Friday, but if a trade is open and in profit, I'm pretty sure that Gary said somewhere to let it run.
I think that it's a bit of a grey area.
The actual words used are...

So not exactly a rule as you are not told to actually close a trade, just that it is usually best to close it.
Much the same as the advice not to enter a trade when signalled after a long candle, not exactly a rule.

Hi, yes I suppose it is a bit open to interpretation. ''usually best to close' I have taken as a hard rule whereas some would not.

 

[GumRai]

Anyway, the trade gave back some of the profit and so finished up about 230 pips when it hit the sniper stop. So , you're right - nobody following the rules would have made 300 pips.
You also have to bear in my that as it opened with a stoploss of about 113 pips, using risk management the reward per pip on this trade would not be so high.
This months trades so far have made 72 pips profit, but using risk management to define lot suze, a 10,000 pound bank, with 3% risk per trade would be showing a loss of 194 Pounds.
So Plus 72 pips equates to minus 194 Pounds.
Of course everyone's results will differ, because not everyone enters each trade at the same price.

 

[greenfield]

Hello GumRai, ajnath et al,
I think there are quite a few situations where you have to 'play it by ear' as it were. I know we've discussed some of these issues involving 'applying the rules' before:
http://www.trade2win.com/boards/forex-strategies-systems/37134-sniper-forex-system-205.html#post898296
http://www.trade2win.com/boards/forex-strategies-systems/37134-sniper-forex-system-213.html#post901714
My experience with open trades on Friday evening is that quite often the trade carries on in same direction on Monday morning allowing a winning trade to carry on notching up points. I realize that I may well have to change this if I have too many bad experiences to the contrary.

My aim has always been to achieve the sort of results published on the Sniper website. I'm averaging 21 pts a day – the site is showing just over 30. I'm happy with these sort of results, but I really can't understand some of the official trades. For example, on Thurday there was the short that produced a few hundred pts. But before that was a short giving a gain of just under 10 pts. No other trades apart from these 2. Well I can't find any other shorts on Thursday. There was a short at approx. 2.00 in the morning, closed out at about 5.00 – which we obviously don't take. After that there was a long, losing 48 pts. But there was no mention of that. I really can't work that one out. Am I missing something here? Don't get me wrong – I like this system very much, but there are 1 or 2 queries.

Hello salvadorveiga,
The graph was produced using the SUN open source equivalent of Excel.

Hello F1F,
Good luck in finding an additional system to give you extra confidence. I've looked a whole range of systems. One that I find useful is the thv system on forexfactory.com. It doesn't give specific buy and sell signals, but it gives a whole range of technical analysis pointers which I find quite useful. The people who are developing thv make it clear that the system gives the info – it's up to each individual what to do with it. You'll need to wade through about 13,300 posts (!!), but I think they're a very genuine, helpful bunch over there:
THV system, final edition @ Forex Factory
Bye,

 

[GumRai]

but I really can't understand some of the official trades. For example, on Thurday there was the short that produced a few hundred pts. But before that was a short giving a gain of just under 10 pts. No other trades apart from these 2. Well I can't find any other shorts on Thursday. There was a short at approx. 2.00 in the morning, closed out at about 5.00 – which we obviously don't take. After that there was a long, losing 48 pts. But there was no mention of that. I really can't work that one out. Am I missing something here? Don't get me wrong – I like this system very much, but there are 1 or 2 queries.

Hi Greenfield,
Am I to understand by your post that Gary posts trade by trade results somewhere on his website?
If so, can you please give a link?

Thanx

 

[greenfield]

Hi Greenfield,
Am I to understand by your post that Gary posts trade by trade results somewhere on his website?
If so, can you please give a link?

Thanx

Hello GumRai,
No, they're not on the website. He sends out occasional emails with some of the trades. I knew nothing of these emails until a few weeks ago when there was a discussion on this thread about specific trades referred to as official Sniper trades. I hadn't a clue what the posts were about, so I had a look on the website and saw a reference to a newsletter. So I signed up for it. Not all trades are published, just some. Most of the newsletters are just copy and paste from Incredible Charts: Home Page. It would really be good if all Sniper clients were sent a regular notification of trades. The newsletter page is here:
Sniper Forex - Newsletter Page

Bye,

 

[forexkunta]

Are you sure about that?
I'm not sure that it is an actual rule. I believe that you are advised not to open a new trade late Friday, but if a trade is open and in profit, I'm pretty sure that Gary said somewhere to let it run.
I think that it's a bit of a grey area.
The actual words used are...

So not exactly a rule as you are not told to actually close a trade, just that it is usually best to close it.
Much the same as the advice not to enter a trade when signalled after a long candle, not exactly a rule.

I agree. That rule is open for interpretation for how each individual wants to trade it. I personally will not leave a trade open unless it is 75 pips or more in profit, just because of the opening gap. I have seen it gap on different pairs as much as 150pips. Just have to be carefull
Kent

 

[GumRai]

Hello GumRai,
No, they're not on the website. He sends out occasional emails with some of the trades. I knew nothing of these emails until a few weeks ago when there was a discussion on this thread about specific trades referred to as official Sniper trades. I hadn't a clue what the posts were about, so I had a look on the website and saw a reference to a newsletter. So I signed up for it. Not all trades are published, just some. Most of the newsletters are just copy and paste from Incredible Charts: Home Page. It would really be good if all Sniper clients were sent a regular notification of trades. The newsletter page is here:
Sniper Forex - Newsletter Page

Bye,

Well, that's a coincidence. I happened to see the link to the newsletter and signed up yesterday. Haven't received the first one yet

 

[fx_eagle]

here his news

"It hasn't been a great month but with a tried and trusted system like this
we always know that the next big trade is just around the corner, and we
let 100 pips get away (exited late on Friday)!"

so he close his trade
will see later what he doing on monday morning