Sniper Forex System

[forexkunta]

Just returned and glad to note that the pair has touched 142 again. So, Good Luck.

How long have you used Sniper ? Shall thank you to indicate what sort of results.
I am trying to see which does better Pro FX or Sniper. Funny thing, all Newbies seem to score 400 and 500 pips a week with ProFX while the more experienced traders are silent ! I will be more than glad with results like that but ....

Cheers.

Vilas.

I have been trading Sniper since June 1, and have been serious and trading live since about the middle of August. Am up at the present time. Very good system. Will be trading it from now on.
Kent

 

[forexkunta]

If it can exceed 142.54 on Guppy, then we may have a breakout. Looks like it will give it a shot.
Kent

 

[salvadorveiga]

Hey Sal
Did you catch some of that move?
Kent

Yes I did and I'm still in it I don't trade 1H charts as you know... well sometimes on GBPUSD or EURUSD I do, but GBPJPY no way... the 1H get too much whipsawed, I'm in profit so far 500+ pips...

what did I tell you ? I know I called for big moves on GBPUSD and GBPJPY of around 1000 pips in the first week of september or so... although they did took some time to materialize, they've finally arrived

 

[salvadorveiga]

by the way someone said the system gets you in early?

that's not correct, this is a trend following system so it follows the price, it gets you later actually. when a very long candle appears you shouldn't trade because sniper will have a hard time getting a signal fast enough because since the move happened in only one candle it will have to be huge to change from short to long for example, and by the time it does it can retrace all the way back and you getting stopped out...

By the way, I do have a new website now for anyone who would like to show up there you're more than invited: myBullmarket Investments

 

[GumRai]

by the way someone said the system gets you in early?

that's not correct, this is a trend following system so it follows the price, it gets you later actually. when a very long candle appears you shouldn't trade because sniper will have a hard time getting a signal fast enough because since the move happened in only one candle it will have to be huge to change from short to long for example, and by the time it does it can retrace all the way back and you getting stopped out..... ....

I've read so often that this is a trend following system, that I believed it.
Anybody can identify a trend in hindsight, it's not so easy to tell when a new trend in a new direction has started with only having the last few candles to base a decision on.
To me, sniper appears to try to anticipate new trends, otherwise why would it signal 2 shorts and 2 longs in a single 24 hour period?
I've read on more than one occasion in this thread that "It's best to trade sniper when its signal is in the same direction as the trend" Because many of its signals run against the trend.
Look at when the last long signal was given on GBPUSD, would you say that this was/is an uptrend?

I would wait till the break of some swing high/lows before I would consider that a trend reversal is in place and then a bit longer to believe that it is established.

So we will have to agree to differ on this point

 

[salvadorveiga]

I've read so often that this is a trend following system, that I believed it.
Anybody can identify a trend in hindsight, it's not so easy to tell when a new trend in a new direction has started with only having the last few candles to base a decision on.
To me, sniper appears to try to anticipate new trends, otherwise why would it signal 2 shorts and 2 longs in a single 24 hour period?
I've read on more than one occasion in this thread that "It's best to trade sniper when its signal is in the same direction as the trend" Because many of its signals run against the trend.
Look at when the last long signal was given on GBPUSD, would you say that this was/is an uptrend?

I would wait till the break of some swing high/lows before I would consider that a trend reversal is in place and then a bit longer to believe that it is established.


here are some pics with some comments...

So we will have to agree to differ on this point

its a trend following for some reason the lines you have the blue and red ones are moving averages

it signaled 2 shorts and 2 longs in 24 hours? i don't know where you've seen that but even if it did, the only thing the system does is whenever all 3 moving averages have a positive slope a signal is made... so when you have consolidations, the moving averages stall or flatten causing a lot of false signals because they can have negative slope or positive slope for a few moments...it only takes 5 bars more or less to flatten the moving averages since the most recent bars have a lot more weight for the calculation of the 30 period moving average, and we're talking about a 1H chart.

if it did predict trends, whenever a big raping ass candle would appear the system would be in position for it but it's not- some times, you get a short signal and a few moments later you have this long short squeeze candle and the signal doesn't revert. why? because the slopeness of the moving averages is negative at the time, and they lag the price. I'm not stating anything wrong... i myself pretty much all my systems are trend following systems as well, but they lag theprice... they don't predict, they just follow the price, and the rewards is, whenever a bigger trend appears you're sure to be there... but don't expect Sniper to "predict" trends, just like any other trend following it's meant to grab 50-70% of the trend.

That's why because as well Sniper performs a lot better in CALM and trending markets, than volatile and trending... because if the markets are calm, usually the tops or bottoms are round, there's a consolidation before the move giving time to the moving averages to flatten out and perhaps even giving a signal before the trend starts advancing...

that is not the case in very volatile environments where most bottons or tops happen in spikes...

 

[forexkunta]

I've read so often that this is a trend following system, that I believed it.
Anybody can identify a trend in hindsight, it's not so easy to tell when a new trend in a new direction has started with only having the last few candles to base a decision on.
To me, sniper appears to try to anticipate new trends, otherwise why would it signal 2 shorts and 2 longs in a single 24 hour period?
I've read on more than one occasion in this thread that "It's best to trade sniper when its signal is in the same direction as the trend" Because many of its signals run against the trend.
Look at when the last long signal was given on GBPUSD, would you say that this was/is an uptrend?

I would wait till the break of some swing high/lows before I would consider that a trend reversal is in place and then a bit longer to believe that it is established.

So we will have to agree to differ on this point

GR,
Yes the last long that Sniper gave on Cable is a valid long. The last move down was approximately 700 pips, and according to EW theory, it must now correct itself, which will be long. That correction should be around 350 pips, and has already moved over 100 pips in that direction. By the time you are sure that a trend has indeed developed, than the move will be close to being done, and you risk being stopped out.

I stayed long on Guppy, and USDJPY that I went into an hour or so before the long alert on Cable. It has been a hair raising day to say the least, but at the present time I have reached my profit target on USDJPY and closed for 70 pips, and Guppy is presently up 100 pips from the entry, about 330 from the trend change, with about 160 pips left to go. I could be wrong, but I am in a position based on these figures. Sniper didnt tell me this, however, using Elliott Wave theory, I have been able to surmise these results. Salvadore was the person that got me started on EWT, and I would think it would be something that everyone should learn, to make themselves more profitable.

The beauty of this forum and community, is the fact that we all can respectfully disagree, and remain friends.
This is my position on these pairs at this time, but bear in mind that time can change the wave count probabilities. I am always keeping that in mind.
I have seen that some people think that EW is an art, but it is actually 3 hard and fast rules, and a few guidelines, that actually can be learned by anyone. It is just how much time they are willing to put forward to get good at the wave counts. Everything is mathematics. If you can count to 5, and then divide by 2, then you can get good at EWT.
Regards,
Kent

 

[GumRai]

If you can count to 5, and then divide by 2, then you can get good at EWT.

Judging by my ability to count Elliot Waves, the answer 5 divided by 2 must = 2

 

[salvadorveiga]

by the way here's a completely different platform nothing to do with sniper...


Regarding your last statement of going against the trend of course... if you put sniper in a 4H period those moving averages won't be as sensitive as in hourly charts... in the hourly charts those short amount of candles were enough to bring the moving averages to point upwards hence the signal...

You can talk all you want (and I don't want to sound rude here, maybe i could say this in other words but my english is not the best of the best so i apologize in advance if i get misinterpreted) but it's just a matter of looking into facts... wouldn't you agree moving averages lag and are price following or trend following? if you do then you'd have to also say sniper is trend following, simply because it's just a few moving averages put together

 

[salvadorveiga]

and here's a simple 50 day moving average where I coded it to change color everytime the slope changes... simple code like:


Call movingaverage[50](price)
IF Day[0]>Day[1] then return colour(#####)
Else return colour(######)

End IF

EDIT forgot the image

PS: the #### are just simply the code for the colours, each colour has an inherent number where the computer recognizes as color X or Y or Z

 

[forexkunta]

Well, Cable has finally been released from the Twilight Zone. I took a long trade on 2 lots @ 1.5908, Demo. I am unable to trade Cable on my live account due to risk factors at the moment relating to Guppy. My t/p has been set at 1.6075. Going for the gusto.
Kent

 

[salvadorveiga]

when people say "same direction as the trend, is the same direction as the trend of the higher timeframe... because higher time frame is "stronger" that the time frame you actually are in. So just by looking at the higher time you increase your chances of being getting it right...


how could you do this? either have 2 charts side by side of Sniper one with 1H charts and other with 4H. Or you could trade in the same charts.... just like in the picture...

 

[GumRai]

Hello again Salvadorveiga,

As Kent says "The beauty of this forum and community, is the fact that we all can respectfully disagree, and remain friends."

And no, you don't sound rude at all

I really think that it depends on one's definition of a trend. Personally I don't consider a few MAs crossing or 2 or 3 candles with higher highs or lower lows indicative of a trend.

On the 23rd September (UK times) in a 16 hour period, 2 Longs and 2 Shorts GBPUSD

6AM Long signal
8AM Short signal
10AM Long signal
9PM Short signal

The first 3 were false signals, a trend was not established and all 3 lost pips. The last one, as far as i am concerned got you into a trend early and made about 350 pips.

In your attached image (link below)

http://www.trade2win.com/boards/att...s/64692d1254189558-sniper-forex-system-gu.gif

You actually write that the trend is definitely up and yet a sell is triggered.
Well, if the trend is definitely up and sniper triggers a sell, sniper is not following the trend - it is anticipating (wrongly in this case) that this is the start of a new trend down.

I guess that what we have here is that we each have slightly different definition of what constitutes a trend.
Maybe I should change to "Sniper tries to get you into a deal early, before a new trend is considered established?"

Wouldn't it be boring if we all thought exactly the same as each other ?

Hope that we can still be friends and disagree

 

[Vilas]

Ew

Judging by my ability to count Elliot Waves, the answer 5 divided by 2 must = 2

That is a great statement - me TOO !

Best Regards,

Vilas.

 

[Vilas]

Code...

and here's a simple 50 day moving average where I coded it to change color everytime the slope changes... simple code like:


Call movingaverage[50](price)
IF Day[0]>Day[1] then return colour(#####)
Else return colour(######)

End IF

EDIT forgot the image

PS: the #### are just simply the code for the colours, each colour has an inherent number where the computer recognizes as color X or Y or Z

Hello Salvadorveiga,

I trade but do no coding - Shall thank you to point me to where I learn how to code- then I can make an EA. The one you write what language is it ?

Thanks for your time.

Vilas.

 

[new2fx]

candlestick pattern

hello all

anybody use trend reversal candles patterns specially on larger time frames like the DAILY?
if you look on daily charts on both Cable and Guppy, you will notice that the 28 sept candle looks like a Hammer. When this occur at the end of down trend, it signals trend reversal.
So we can expect today candle to be a long candle.

 

[ms119]

Yes I did and I'm still in it I don't trade 1H charts as you know... well sometimes on GBPUSD or EURUSD I do, but GBPJPY no way... the 1H get too much whipsawed, I'm in profit so far 500+ pips...

what did I tell you ? I know I called for big moves on GBPUSD and GBPJPY of around 1000 pips in the first week of september or so... although they did took some time to materialize, they've finally arrived

Hi Salvador!

What TFs do you trade on GBPJPY? 4H?

I am testing Sniper on 15M GBPUSD and it works fine! Even GBPUSD, 1M is working!
Do you have experience with USDCHF?

Sniper is a trend following system but from all trend indicators out there Sniper provides the fastest and best signal! For trend changing I use nonLagMA. So I see the possible change earlier!

Do you use an indicator to avoid whipsaws? Or any suggestion how to identify a flat, not trending market? :smart:
If we could find such a tool this system is close to the holy grail!

I was using Profx and I have to say that it did not work out for me! The EA is very bad!!! And the signals repaint!

 

[ms119]

by the way here's a completely different platform nothing to do with sniper...


Regarding your last statement of going against the trend of course... if you put sniper in a 4H period those moving averages won't be as sensitive as in hourly charts... in the hourly charts those short amount of candles were enough to bring the moving averages to point upwards hence the signal...

You can talk all you want (and I don't want to sound rude here, maybe i could say this in other words but my english is not the best of the best so i apologize in advance if i get misinterpreted) but it's just a matter of looking into facts... wouldn't you agree moving averages lag and are price following or trend following? if you do then you'd have to also say sniper is trend following, simply because it's just a few moving averages put together

You are never rude! I love to read your posts!!! :cheesy:

May I ask what indicators do you use in your charts? One is EW indicator? Do you have any recommendation for MT4 EW indicator available?

 

[ms119]

GR,
Yes the last long that Sniper gave on Cable is a valid long. The last move down was approximately 700 pips, and according to EW theory, it must now correct itself, which will be long. That correction should be around 350 pips, and has already moved over 100 pips in that direction. By the time you are sure that a trend has indeed developed, than the move will be close to being done, and you risk being stopped out.

I stayed long on Guppy, and USDJPY that I went into an hour or so before the long alert on Cable. It has been a hair raising day to say the least, but at the present time I have reached my profit target on USDJPY and closed for 70 pips, and Guppy is presently up 100 pips from the entry, about 330 from the trend change, with about 160 pips left to go. I could be wrong, but I am in a position based on these figures. Sniper didnt tell me this, however, using Elliott Wave theory, I have been able to surmise these results. Salvadore was the person that got me started on EWT, and I would think it would be something that everyone should learn, to make themselves more profitable.

The beauty of this forum and community, is the fact that we all can respectfully disagree, and remain friends.
This is my position on these pairs at this time, but bear in mind that time can change the wave count probabilities. I am always keeping that in mind.
I have seen that some people think that EW is an art, but it is actually 3 hard and fast rules, and a few guidelines, that actually can be learned by anyone. It is just how much time they are willing to put forward to get good at the wave counts. Everything is mathematics. If you can count to 5, and then divide by 2, then you can get good at EWT.
Regards,
Kent

Hi forexkunta!

Can you post a pic of your chart with Guppy? Do you mean the Guppy indicator? Which one do you use? :smart:

I just started to read about Wolf waves and found it very interesting. EW is somehow similar! Am I right?

 

[ms119]

Guppy, oh sorry!!! Of course you were talking about GBPJPY! I forgot!