Sniper Forex System

[ms119]

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...

Would you mind to share how you put the Sniper for 4H into a 1H chart? :clap:

 

[salvadorveiga]

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

i'm stating the general trend... i'm not saying that 2 or 3 candles is a trend, sniper just gets how can i say this... faked into the trade because the MA's just go negative...

in the picture sniper went short and i said trend is up, of course trend is up, the fact sniper issued a short has nothing to do with it, i can put sniper as a 10 period moving average and it pretty much will just follow price... as i said it went into a short because of consolidation and the MA's just going into negative while the trend is up... (bunch of higher highs and higher lows is a trend...) what could you do to avoid sniper on doing this? well increasing the periods or something...

 

[salvadorveiga]

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.

As strange as this sounds... read the manual instructions of MetaStock, you will learn more than any other book most likely :cheesy: the language here is not metastocks, it's prorealtime which honestly i don't know what language it is, but is similar to metastock's

 

[salvadorveiga]

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!

i trade 4H charts...i do find very whipsawy on GBPJPY on lower time frames...

Profx the signals don't repaint (well they do) but you're not supposed to get in the trade until the candle closes, once a candle closes the signals won't change... Sniper repaints as well, but it's normal...

well i do have an alogirthm in my trading system that identifies sideways markets, what it does is, it gives more weight to the sideways component of the system than the trending, also when it's in a full trend it has a contrarian component as well, for example when there's too much "panic" he adds to the position in the direction of the trend... for example, with the decline last week, the system saw that "fear" had risen momentarily, so it issued to add to long positions, once it bounces back and for example if instead of panic there's too much of a good sentiment then the system takes advantage and makes partial profits... linear regression is a good start for that

 

[salvadorveiga]

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?

i'm sorry i can't disclose them since they compose my own proprietary system... there is one or other that is standard in the platform but the others i pretty much changed the code from each own to please my own style...

EW indicator isnothing more than an oscillator... nothing especial. just like a MACD. any indicator serves as a EW guide, no need for "special indicators". for example be a MACD or RSI, Waves 3 make extremes in every readings, so MACD, RSI, and all other signals are at the highest point in a wave 3. Volume as well... the same is true for fundamentals, if you're looking at a chart of a bigger time frame like for example a long term chart.

Wave 3 of long term started in 1940's and ended in 1970's. This was the period of economic boom, economic growth % were the biggest, etc etc... now if you compare the economics with the 90's or 2000's, its clearly wave 5. Because tecnhicals are weaker (causing divergences) and economics aren't as strong as well...

In lower timeframes of course economical indicators serves us no use because they don't change that fast, but for the tecnhicals that remains true... divergences happen during waves 5, so they help us assess and situate that our count is most liekly correct

 

[GumRai]

My internet has been a bit iffy today - but no action on this thread at all!!
Has everyone gone on holiday with the pips they've earned lately ?
Had a couple of losers on Cable , but the current long is going well.
September has been a very interesting month so far, would be nice to see it finish on a high.

 

[GumRai]

For some reason I am still getting Sniper forex marketing emails even though I have already bought the system.
It seems that Gary is now offering a moneyback guarantee!

If you trade the system precisely as per the instructions and do not make a net profit over a period of 60 days on the given currency, timeframe and trading times then we will gladly refund you 100%, no questions asked, on production of your trading account statement.



"You don't have to decide now if this product is for you. Just get it and try it out. If it doesn't do everything I say and more, if you don't make pips like I do and you have followed our instructions correctly, just let me know and I'll give you every cent of your money back! So you have nothing to lose and everything to gain."

 

[RuMouR]

My internet has been a bit iffy today - but no action on this thread at all!!
Has everyone gone on holiday with the pips they've earned lately ?
Had a couple of losers on Cable , but the current long is going well.
September has been a very interesting month so far, would be nice to see it finish on a high.

Unfortunately I was just to late to act on the last long with cable, have considered to enter during the trend, but have not done so. Missed out on some good pips. Too bad.
The cable seems to have gone through some pivot points today without hesitation, very nice moves.

I have enjoyed a good ride earlier on with the guppy, currently also long. But that position is flickering in and out of profit and taking on more of a sideways pattern. Hope for the best...

 

[fx_eagle]

holiday

My internet has been a bit iffy today - but no action on this thread at all!!
Has everyone gone on holiday with the pips they've earned lately ?
Had a couple of losers on Cable , but the current long is going well.
September has been a very interesting month so far, would be nice to see it finish on a high.

Hi GumRai,

yeap same I told before , I'm happy with the pips=$$ for this month.

and now before NFP it's all a little crazy, I will start a new month after that, hope a good one for us all again.

hope you go out at the top at your last long.

cheers

 

[forexkunta]

For some reason I am still getting Sniper forex marketing emails even though I have already bought the system.
It seems that Gary is now offering a moneyback guarantee!

Hey GR,
Just wondering, would you give sniper back? I know I wouldn't. Couldn't pry it out of my hand with 20 men. LOL
Kent

 

[new2fx]

sniper stops

hello all

anybody use snipers stops only to go in a trade and exit . If you remove sniper trigger lines and only enter a trade when stops flip over from red to blue or vice versa and the histogram are the same color on the 15 min cable chart you will have entered long on 29 sep on 12:00 gmt @ 1.5887 and exited on 30 sept @ 1.6097 on 14:15 gmt when the stop flipped over to red. You can use the 1hr chart too. See the chart below:smart:

 

[new2fx]

GBPJPY with sniper stops

I find the charts more clear to see without the sniper trigger lines.
below is another example of using the sniper stops and histogrammes only to enter and exit a trade with GBPJPY 1hr chart. If Pircj will be kind enough to programme an EA to send an alert every time Stops flip over that will be great.

 

[wil68]

Hi Guys

I demo'd this system several months ago, but due to personal restrictions, couldn't make the most of the trial period. Obviously there are several of you trading this for real, so would be interested in an unbiased review.

I now have more spare time to trade, but realise on 1 hr charts, that the amount of trades may be few and far between. This then has the problem of being around when the trade sets up; I have read most of the thread again, and seem to recall a mention of an ea. Is this from Gary? Is this beneficial?

I have asked Gary for a further demo period, and will hopefully hear from him soon. Until then, please let me know how you are getting on, and ultimately, whether this is worth spending money on (although I assume forexkunta thinks so).

Thanks

 

[GumRai]

Hey GR,
Just wondering, would you give sniper back? I know I wouldn't. Couldn't pry it out of my hand with 20 men. LOL
Kent

Hello Kent,

Although there are some issues that I'm not entirely happy about, so far I believe that Sniper gives good value for the money.
No, I wouldn't return it.

Hi Guys

I demo'd this system several months ago, but due to personal restrictions, couldn't make the most of the trial period. Obviously there are several of you trading this for real, so would be interested in an unbiased review.

I now have more spare time to trade, but realise on 1 hr charts, that the amount of trades may be few and far between. This then has the problem of being around when the trade sets up; I have read most of the thread again, and seem to recall a mention of an ea. Is this from Gary? Is this beneficial?

I have asked Gary for a further demo period, and will hopefully hear from him soon. Until then, please let me know how you are getting on, and ultimately, whether this is worth spending money on (although I assume foexkunta thinks so).

Thanks

Hello Wil,

I'm not sure what you mean by trades being few and far between using 1 hour charts. I think that you can expect about 30 trades per month with GBPUSD.
Do you mean that you want to trade more often than that?
You've mentioned one of the biggest issues that I have with Sniper. You do not get an alert to tell you exactly when to enter the trade. You can get a constant stream of imminent alerts (especially if you are monitoring multiple pairs and timeframes), maybe eventually followed by an entry alert when the sniper lines are all the same colour. But for some reason the system does not give you an alert when the trend histograms change to match the colour of the sniper lines. This means that after getting an "entry" alert, you may still have to wait for hours before the histograms match. In fact sometimes, they never do.

PircJ has been working on an EA to run with Sniper, I haven't tried it myself, but my internet connection here is likely to disconnect at any time, so it wouldn't always work for me.

September has probably not been the best month for any system, manual or software based, I would have thought.Sniper has coped well though and according to my figures is 310 pips in profit or using risk management, 3% bank about 2.75% profit on bank. That would be if you are able to enter every trade, and that's not always possible unless you are at your computer nearly all the time.
Note, one trade netted about 350 pips, so if you missed that one, it would dramatically alter the results.

The lifetime system is just under 200 $US, or if you pay with Google in GBP, 99 Pounds for some reason. Gary is offering a money back guarantee now - but only if the system does not make profits.

I don't know how experienced you are with trading. I actually think that this system is probably better if you have absolutely no experience. I think that you will find that many experienced traders will take a system like this and try to "improve" it, but probably it is better to run it as is, follow the rules and ignore your own judgement.

You also have to try to understand your own emotions when trading. Do you get despondent after a run of 3 or 4 losses? Do you chase losses? Do you "double up or pyramid" to try to get back losses?
Not all trades can be winners and there will be losing streaks. You have to be able to accept this.
Starting with a relatively small bank, you are not going to be rich overnight.

Note. The last long that Sniper gave was up 159 pips at one stage, the market reversed and the deal was stopped with 56 pips profit. Winners in the world of trading will focus on the fact that they just made 56 pips. The rest will focus on the fact that the deal Only made 56 pips, when it was up 159 at one stage. Those doomed to fail are those that get and consider that they lost 100 pips.... Which one are you?

Good luck

 

[wil68]

GumRai

As per my email, thanks for the reply.


As I mentioned in my original post, personal issues restricted my trading when I had my demo, however, it did appear that trades on 1hr chart were pretty infrequent. If, in your experience, they are around 30 per month purely on cable, this would certainly be more than enough to manage. I did notice that the trades were very often triggered when I was not around, so this causes a big problem if I'm not able to be near my pc all day. Obviously, any marketing done by Gary, will take into account ALL triggered trades, whether they are tradeable or not.

An EA may of course be the answer, however this will surely only open and close trades, and I'm certain good money managemant is the key to making forex work. I'm sure I have a MM file that works on MT4, so maybe both combined, would work well.

I've had a fair bit of experience in forex, some good, some bad. I find my problem is consistency, and over analysing. If this system helps me by "dumbing it down" for want of a better phrase, it MAY help me. As to what kind of trader I am - at some point, I've been all of them...........

You quote a price of £90, but looking at the updated web site, the Lifetime system is advertised at $297 and at checkout £148. I'll confirm the actual cost with Gary at some point, and also discuss the guarantee you mentioned.

Thanks again, I'll let you know how I get on.

 

[GumRai]

GumRai

As I mentioned in my original post, personal issues restricted my trading when I had my demo, however, it did appear that trades on 1hr chart were pretty infrequent. If, in your experience, they are around 30 per month purely on cable, this would certainly be more than enough to manage. I did notice that the trades were very often triggered when I was not around, so this causes a big problem if I'm not able to be near my pc all day. Obviously, any marketing done by Gary, will take into account ALL triggered trades, whether they are tradeable or not.

An EA may of course be the answer, however this will surely only open and close trades, and I'm certain good money managemant is the key to making forex work. I'm sure I have a MM file that works on MT4, so maybe both combined, would work well.
....... ........

You quote a price of £90, but looking at the updated web site, the Lifetime system is advertised at $297 and at checkout £148. I'll confirm the actual cost with Gary at some point, and also discuss the guarantee you mentioned.

Thanks again, I'll let you know how I get on.

In some respects, the fewer the trades, maybe the better. You will undoubtably have noticed that most trades are in the opposite direction to the previous. Ie. Buy, Sell, Buy, Sell etc. and when you get a lot of alerts close together, they are usually false signals.
The best result in September with about 350 pips profit was open for one and a half days. The 2nd best with about 225 pips profit was open for 2 days (4 if you include the weekend). The next best at 125 pips profit was also open 2 days.
Nearly all the losing trades were only open for a few hours.

The big problem that I have with Sniper is, as you say, not being around when the trades are triggered.
When I started to trade following the Sniper signals, it seemed that I managed to be around for when the losing trades were alerted, but missed nearly all the winners. Of course, that is just bad luck on my part - it could easily have been the other way round. I guess that over time it would all even out anyway. It's just quite damaging to the mindset when you take 2 losing trades, then miss the winner that would have put you into profit, get in on the next loser and then miss the next winner again!

If you go to the payment page at the website and close it, you will be offered the system at $197 (unless it has changed recently)
If you agree, you will be given the option to pay by Paypal or Google checkout. If you select Google, for some reason the price is now 99 Pounds. Again, unless it has changed recently).
Unfortunately, I was unable to pay via Google (or PayPal using a debit card) as they detect that My IP address is in Thailand, but my cards are registered in the UK. I have had to set up a PayPal account linked to my UK bank account as it is getting impossible to make online payments using my cards while I am in Thailand.

 

[forexkunta]

GR and All,
You know, stopping and thinking about the exits, If I had taken profit on every trade that I have seen hit 100 pips, then missing a major trend would not be an issue. I can count at least 7 trades in the last 3 weeks that I actually saw hit the 100 mark and turn and not get 25 pips profit.

Greenfield,
What are your thoughts on taking profit when it is there? Are you still opening with 2 positions and taking the first profit @ 75? What is your actual percentage increase in the last month in doing that?

Kent

 

[fx_eagle]

alerter EA

Hi Pircj,

you still there, long time not see you, also at skype I can not see you, hope you ok!

I have a prob with the EA, yesterday as the cable fall down like a rock, the EA want to open a short, but the PA to fast and I think the slippage in your EA may to small?
I not see where I can change in the properties at the EA the slippage.

here is the sheet you can see how often the EA try to open the trade, was on my demo account and my mobile shoot the sms like a machine-gun :cheesy:

Sniper Forex EA Alerter V3
Account Nr:
Demo Account
Account name:
Company: Alpari (UK) Ltd.
Server: AlpariUK-Demo
Account Currency: USD

Price Direction InitialSL TP
1.59666 LONG 1.60345071 1.61024143
1.59733 SHORT 1.60345071 1.60957143
1.59731 SHORT 1.60345071 1.60959143
1.59722 SHORT 1.60345071 1.60968143
1.59717 SHORT 1.60345071 1.60973143
1.59711 SHORT 1.60345071 1.60979143
1.59704 SHORT 1.60345071 1.60986143
1.59703 SHORT 1.60345071 1.60987143
1.59697 SHORT 1.60345071 1.60993143
1.59697 SHORT 1.60345071 1.60993143
1.59696 SHORT 1.60345071 1.60994143
1.59693 SHORT 1.60345071 1.60997143
1.59703 SHORT 1.60345071 1.60987143
1.59703 SHORT 1.60345071 1.60987143
1.59717 SHORT 1.60345071 1.60973143


cheers

 

[RuMouR]

GumRai

As per my email, thanks for the reply.


As I mentioned in my original post, personal issues restricted my trading when I had my demo, however, it did appear that trades on 1hr chart were pretty infrequent. If, in your experience, they are around 30 per month purely on cable, this would certainly be more than enough to manage. I did notice that the trades were very often triggered when I was not around, so this causes a big problem if I'm not able to be near my pc all day. Obviously, any marketing done by Gary, will take into account ALL triggered trades, whether they are tradeable or not.

An EA may of course be the answer, however this will surely only open and close trades, and I'm certain good money managemant is the key to making forex work. I'm sure I have a MM file that works on MT4, so maybe both combined, would work well.

I am currently trying and using an EA I have gathered from another website (Trading System Forex - Powered by vBulletin) where Funyoo is more than helpful to help people out with programming issues. The Sniper thread there is less active than around here though, but the EA has proved to be more than helpful to me. The EA has a martingale, MM, you can open 5 or less trades at the same time with different TP's and is suitable for 5 digit brokers. You can alter the EA to follow the SL from Sniper, insert a trailing stop or just use a fixed stop.

Please note that it will only enter a trade when all entries are met at the beginning of the candle and also if the previous was the opposite (so 2 long signals in a row will not trigger anything). Repainting indicators has no effect and therefore it might seem that the EA is not working at all at some time, especially in hindsight. This EA can be a helpful tool in entering trades when you are not around, but don't think that this system can run by itself: it needs babysitting. But when it enters it will follow the TP & SL you have put in and you can babysit it when you get the chance. I find myself disabling the EA when I'm behing the controls and enabling it when I leave them again.

For specific questions regarding the EA setup, you can follow the thread at Funyoo's place (Trading System Forex - Powered by vBulletin), let's try to keep that out of this thread. You can however contact me for some little support. :whistling

 

[GumRai]

Spreadsheet

GR and All,
You know, stopping and thinking about the exits, If I had taken profit on every trade that I have seen hit 100 pips, then missing a major trend would not be an issue. I can count at least 7 trades in the last 3 weeks that I actually saw hit the 100 mark and turn and not get 25 pips profit.

Greenfield,
What are your thoughts on taking profit when it is there? Are you still opening with 2 positions and taking the first profit @ 75? What is your actual percentage increase in the last month in doing that?

Kent

Hello Kent,

I've added the highest high for longs and the lowest low for shorts to my excel spreadsheet to be able to check the effect of taking profits at certain levels.
If you download the spreadsheet, you will see the effect.
September with GBPUSD gave 310 pips profit. Taking profit at 100 would have given 188 pips, but taking profit at 160 would have given 487 pips. So with these results, taking pips profit at 100 would have worked against you.
A meaningless small sample I know. 1 month really means nothing.
One thing though, the people who lock in profits at 50 pips - and I've seen quite a few here post that they do - would have only made 88 pips.

I hope that the spreadsheet will be of some use to some people. It's only set up for The Pound, but if anybody wants something else, please let me know and I will attempt to make the adjustments. If you want to unlock the locked cells, the password is sniper.