My Sniper Forex Journal

[Vaco]

Just discovered I can do this, will make for interesting reading for those that love the stats.

Gross Profit: 69.56 Gross Loss: 83.52 Total Net Profit: -13.96
Profit Factor: 0.83 Expected Payoff: -0.73
Absolute Drawdown: 17.79 Maximal Drawdown: 63.79 (26.34%) Relative Drawdown: 26.34% (63.79)

Total Trades: 19 Short Positions (won %): 9 (33.33%) Long Positions (won %): 10 (60.00%)
Profit Trades (% of total): 9 (47.37%) Loss trades (% of total): 10 (52.63%)
Largest profit trade: 14.14 loss trade: -22.95
Average profit trade: 7.73 loss trade: -8.35
Maximum consecutive wins ($): 6 (51.69) consecutive losses ($): 8 (-63.79)
Maximal consecutive profit (count): 51.69 (6) consecutive loss (count): -63.79 (8)
Average consecutive wins: 3 consecutive losses: 5

 

[Vaco]

Still holding too trades, half a position on usdcad +550 from the first week and eurcad +250 from last week

I Feel i've finally conquered the 'let your winners run philosophy':smart:

 

[Vaco]

Not much happening so far this week,(maybe due to the bank holiday) missed most of the good entries from last week, had a few stop bounce trades that ended up doing nothing between them.

This next one is classic sniper entry but on the daily chart not the 4h.

 

[wildpips]

Still holding too trades, half a position on usdcad +550 from the first week and eurcad +250 from last week

I Feel i've finally conquered the 'let your winners run philosophy':smart:

Good to see you in plus territory.And good luck in next week's trading.

 

[Vaco]

Good to see you in plus territory.And good luck in next week's trading.

Yes, so far its been good I,ve been a bit lazy with the journal as I've not documented every trade i've made and i've also given myself a telling off for placing a a non sniper related trade(which went against me).

But overall I'm happy, holding 2 positions from last week nzdusd which i posted the chart of when i entered +189 so far and gbpusd which was a sniper stop bounce at +279.

I've changed my stop stratagy in order to lock in more profit. I'm simply using the break below/above the hourly sniper stop to exit my position. I'm also hoping to get tighter stops on my bounce trades by droping down to the 1min when the sniper stop is reached and entering on the next signal in my favour with a stop below the sniper stop on this timeframe.

Charts below

 

[Vaco]

closed gbpusd for +157 nzdusd still going.

 

[JBJames]

Hi All,

Just wanted to firstly say - excellent post, very interesting indeed!

Secondly a couple of questions. What time frames and pairs are you trading on? Do you use trailing stops of the limits that are set out in the indicators?

Think that's all for the time being!

Keep up the excellent report!

 

[Vaco]

Been really busy at work so not had time to post, had a few trades where my stop was placed just below the 1 min s.stop but got stoped out before it took off on both occasions with this so dont think its the way forward.

closed nzdusd for +160

two trades on at the moment short usdchf currently +60 and long gbpusd +116 both were entries on the bounce.

Still struggling with stop loss placement on trades in profit looking through the charts placing stops below the 4h s.stop would have had me in some nice 500+ rallies over the last few days but the swings would have been very large and i dont think that fits in with who i am, on the other hand placing stops using the 1h stops still gives up a large chunk of the profit so i'm gonna go with the 15 min for trailing stops. I'll miss out on the really big ralies but i'll take pieces out of it when its ranging that would have probably ended up in a loss/breakeven trade.

Charts attached for current trades

 

[Vaco]

Hi All,

Just wanted to firstly say - excellent post, very interesting indeed!

Secondly a couple of questions. What time frames and pairs are you trading on? Do you use trailing stops of the limits that are set out in the indicators?

Think that's all for the time being!

Keep up the excellent report!

Welcome to T2W JB,

I'm using the 4h chart for trend and looking for pullbacks to the red/blue dot (sniper stop) for entry. If i'm home I drop to the 1 min chart and wait for the pullback to end and the trend to continue before entering, otherwise i place my order on the dot.

I set my trailing stop to follow the dots kepping below them as there is a tendency for price to come back to them. However i'm using the sniper stops on lower timeframes to trail as i dont like the swings in the 4h and even the 1h so trying the 15min at the moment which is where my stops are for the trades above.

15 min charts below as example.

 

[JBJames]

Thanks for the reply Elefteros! Has clarified some things for me which is always welcome!

Have been paper trading the last few days with some incredible success, shall post up some results in the near future (mainly involving some scalping with certain criteria on the 1m to 15m charts and then longer ones on the 30m+ ones!)

Am going to paper another couple of weeks before plunging my hard earned cash into it but still if the performance is maintained then exciting times!

Oh and nicely done on the pips today!

 

[Vaco]

Your welcome JB,

Also look forward to hearing your trading ideas and good luck when you go live, just remember to keep it small 0.01 or 0.02 and increase size no more then once a month, dont rush it. You have to condition yourself to the amount of money you are risking per trade slowly otherwise you will end up trading on emotion.

 

[forexsniper]

Been really busy at work so not had time to post, had a few trades where my stop was placed just below the 1 min s.stop but got stoped out before it took off on both occasions with this so dont think its the way forward.

closed nzdusd for +160

two trades on at the moment short usdchf currently +60 and long gbpusd +116 both were entries on the bounce.

Still struggling with stop loss placement on trades in profit looking through the charts placing stops below the 4h s.stop would have had me in some nice 500+ rallies over the last few days but the swings would have been very large and i dont think that fits in with who i am, on the other hand placing stops using the 1h stops still gives up a large chunk of the profit so i'm gonna go with the 15 min for trailing stops. I'll miss out on the really big ralies but i'll take pieces out of it when its ranging that would have probably ended up in a loss/breakeven trade.

Charts attached for current trades

thanks for sharing. are you only trading 4H?

i have only been trading 4H for gbpusd in May and its not been good...pretty much drawdown on all 3 trades so far. 1H as gary recommends has been excellent in May. i'm thinking of going back to trading 1H as it gets into trades alot earlier and is able to turn alot of faster when the markets change direction. if the markets then starts to trend, i may use the 4H to get me out of the trade.

 

[Vaco]

Sunny,

I'm not trading sniper as per the manual however I would not recommend that you take every signal regardless of which timeframe you use, Follow the sniper stops they are the best indication of trend and only take trades on the 4h with the stop behind you. Look at any pair including gbpusd for may on the 4h and you would be up many pips doing this. On gbpusd you would have gone long on april 29 and maybe got stopped out yesterday for 370+

 

[Vaco]

Gross Profit: 191.63 Gross Loss: 138.74 Total Net Profit: 52.89
Profit Factor: 1.38 Expected Payoff: 1.26
Absolute Drawdown: 13.80 Maximal Drawdown: 63.79 (26.34%) Relative Drawdown: 26.34% (63.79)

Total Trades: 42 Short Positions (won %): 23 (34.78%) Long Positions (won %): 19 (52.63%)
Profit Trades (% of total): 18 (42.86%) Loss trades (% of total): 24 (57.14%)
Largest profit trade: 32.27 loss trade: -22.95
Average profit trade: 10.65 loss trade: -5.78
Maximum consecutive wins ($): 6 (51.69) consecutive losses ($): 8 (-63.79)
Maximal consecutive profit (count): 51.69 (6) consecutive loss (count): -63.79 (8)
Average consecutive wins:

After four weeks i've made a profit of 27%, my largest winner is bigger then my largest loser and my average winner is nearly double my average loser. Average loser is under 3% risk which is also good.

If i trade the same size and achieve similar returns every month i will have £814 after 12 months trading, If I compound (increase trade size) which is my intention i'm looking at £3380.

If I was to continue to trade with the same rate of success and continue to increase trade size i would have £60k at the end of the second year.

I dont believe I'm away with the fairy's with these targets and I believe its important to have them.

So my target is to achieve 25% increase in capital per month till I reach my goal of 60k in 23 months time.

 

[Vaco]

Gone long on gbpusd and eurcad, got in a bit late on both as they hit the sniper stops over night. Will find out how it has gone when i get back tonight.

 

[Vaco]

got knocked out of eurcad for 41 running at +158 on gbpusd so a good day!

 

[JBJames]

got knocked out of eurcad for 41 running at +158 on gbpusd so a good day!

Sounds like a very good day indeed! My testing is continuing and managed to gain over 800 pips today, ridiculous really - one of those "what if" pipe dreams!

 

[Vaco]

Sounds like a very good day indeed! My testing is continuing and managed to gain over 800 pips today, ridiculous really - one of those "what if" pipe dreams!

800 pips in a day, dont go round shouting about it or they will take you for a witch and hunt you down to burn you.

out of gbpusd for +144

 

[Vaco]

short eur/usd 1.3585

 

[JBJames]

800 pips in a day, dont go round shouting about it or they will take you for a witch and hunt you down to burn you.

out of gbpusd for +144

Very true, such is the nature of some people here i've discovered! I missed everything so far this morning because of a nice long sleep!