Sniper Forex System

[The Stockman]

Hello Kent & Greenfield,

I'm looking at my Sniper charts and the only Guppy entry signal was @ 1.00am last night, 146.766, so trade not entered and neither did the EA after open trade times.

Am I missing some signals ? ?

Eric

 

[forexkunta]

Eric,
The signal that I went in on was on 12/7 2gmt bar. Entry became valid with trend a and b close to the end of the 3gmt bar. Caught the beginning of this trend during the Asian session early Monday morning. Been a good run so far, around 422 pips atm, and just beginning wave 5, so more to go.
Kent

P.S. You have to be sure and trade the sessions most relevant to a particular pair.

Hello Kent & Greenfield,

I'm looking at my Sniper charts and the only Guppy entry signal was @ 1.00am last night, 146.766, so trade not entered and neither did the EA after open trade times.

Am I missing some signals ? ?

Eric

 

[The Stockman]

Hello Kent,

Looking at my charts, I still had 3 blue lines at 2AM and it changed on the 3AM bar, but I had no signal fired. To be honest, I'd be fast asleep at this time in UK.

Also Trend A & B did not synchronise until 4AM, but I may not have taken the trade because there was no arrow indicated. Am I being pre-historic on this??

I take it I may need to adjust my Guppy trading times?? from 6.00 - 22.00 to maybe 3.00 - 19.00??

Eric

 

[greenfield]

Hello Stockman,
I think there's a mix-up here. You're referring to the long trade this morning. I was asleep and didn't know anything about it! The trade that Kent and I took was first thing Monday ( actually I got in late as I was distracted – I got in at 14780, still a successful trade, 400 up at the moment.

The signal that I went in on was on 12/7 2gmt bar.

 

[The Stockman]

Hello Greenfield,

I was referring to the beginning of the trade, which was about 2 - 3 AM on Monday. It did not show up on my Sniper. The lines cahnged at 3.00am and so did Trend A/B, but no signal fired. MAybe I need to check the on-screen alerts a little closer.

The Stockman

 

[GumRai]

Hello Greenfield,

I was referring to the beginning of the trade, which was about 2 - 3 AM on Monday. It did not show up on my Sniper. The lines cahnged at 3.00am and so did Trend A/B, but no signal fired. MAybe I need to check the on-screen alerts a little closer.

The Stockman

You might find that the arrow is offscreen.
Click and drag down on the price margin to make the chart more squat and you may well see the arrow.

 

[greenfield]

Hello Stockman,
Sorry, I misunderstood you. The method that GumRai outlined certainly shows the arrow on my screen.

What concerns me is that with this trade, the EA would have, presumably, closed this trade Tues morning – if not this morning. But with a little 'playing it by ear' I'm still in. I'm sure Kent is as well.

 

[greenfield]

Those of us who trade Sniper got some stick on another thread, in a friendly way, I think! (I've nothing against breakouts, I've been experimenting with different methods for a while.). But we're all different, with different objectives, lifestyles, levels of risk etc. The present GBPJPY – up 538 pts – is fine with me. The present GBPUSD is up 156 pts. Since I've been using TPs 115, 135, 160 on my 'parallel' trade, this account has been doing very well. As for 'sitting in front of a screen all day' I realize that this isn't for everyone. Personally, I'm involved with a load of other things (doing well with cotton, rough rice, not so well with silver, a string of equities, plus a number of websites to update), so I need to be around a screen anyway. But, armed with a laptop and wi-fi, I pop out every so often – rode my horse yesterday. So it suits me. I realize it doesn't suit a lot of people.

 

[forexkunta]

Yep, I was still in at the time. The long trade was a correction, wave 4, so I stayed for the long haul. Went to bed and the trade was at 505 or so, turned and hit my s/l at 491. Not a bad trade over the last 2 days. I also added another position earlier and it hit my t/p of 175, so a total of just shy of 700. I also traded the break out on the other thread for a little. Not a bad trade setup at all. Worth the effort of a few minutes at London open.

Kent

Hello Stockman,
Sorry, I misunderstood you. The method that GumRai outlined certainly shows the arrow on my screen.

What concerns me is that with this trade, the EA would have, presumably, closed this trade Tues morning – if not this morning. But with a little 'playing it by ear' I'm still in. I'm sure Kent is as well.

 

[forexkunta]

One of the things that I think is going to work out with this EA is the ability to change the way that it closes trades on the fly as a trade unfolds. When a trade is initiated you are not always 100% sure that a trend will develop. As the trend does develop, changing the trade closing parameter from trendline color change to s/l hit, in most cases will allow the bot to stay in the trend even when wave 2 and 4 occur, unless they are inordinately deep. I don't believe that any robot needs to be left completely unattended, but this one will allow a very high degree of control on my part, and that is important. I cannot always be at the computer all day, so when I am out, I know that the trade is being managed according to the trading rules that I go by. At the present time I am running this bot on GBP/JPY, live with micro lots, as this is my primary trading pair, so will see how it goes. But I do expect spectacular results with it, or at least as good as I would normally do. As my confidence builds with the bot, I will add Cable, probably after the first of the year.
Regards,
Kent

Hello Stockman,
Sorry, I misunderstood you. The method that GumRai outlined certainly shows the arrow on my screen.

What concerns me is that with this trade, the EA would have, presumably, closed this trade Tues morning – if not this morning. But with a little 'playing it by ear' I'm still in. I'm sure Kent is as well.

 

[greenfield]

One of the things that I think is going to work out with this EA is the ability to change the way that it closes trades on the fly as a trade unfolds. When a trade is initiated you are not always 100% sure that a trend will develop. As the trend does develop, changing the trade closing parameter from trendline color change to s/l hit, in most cases will allow the bot to stay in the trend..................................

Hello Kent,
That's very interesting. I hadn't realised that it was possible to alter the parameters to that extent. I think this is really exciting!

 

[GumRai]

It's all gone very quiet here!

Kent, that link to the Donnaforex EA results links to an empty page. As you are now a member, are you able to find out if the link is obsolete now?
When it did have the results, I did note that the EA missed at least one trade and entered another 1 hour before Sniper indicated it.
This does suggest that it is not following the exact sniper set-up, maybe it's better - who knows

 

[GumRai]

It's all gone very quiet here!

Kent, that link to the Donnaforex EA results links to an empty page. As you are now a member, are you able to find out if the link is obsolete now?
When it did have the results, I did note that the EA missed at least one trade and entered another 1 hour before Sniper indicated it.
This does suggest that it is not following the exact sniper set-up, maybe it's better - who knows

 

[jshear]

What a great GBPJPY trade today already up 100 pips!!!

 

[forexkunta]

GR,
At the moment, I think that mt4stats has some problems. My stats page that I run there is also not updating at all. I dont know what is happening.
The ea is very customizable, so it is using the default settings, which is not exactly like the sniper rules, ie.. s/l to b/e at 50, enter on bar close to avoid repaint problems, and no trade on Fridays.
I am demoing on Guppy and it took that trade this morning and is up like jshear describes, with a profit locked. I didn't take the trade manually on my live account, due to the fact I have been sick and not trading. I also took right at 500 pips this week and decided to quit for the week.
Hope everyone has a good weekend.
Kent

It's all gone very quiet here!

Kent, that link to the Donnaforex EA results links to an empty page. As you are now a member, are you able to find out if the link is obsolete now?
When it did have the results, I did note that the EA missed at least one trade and entered another 1 hour before Sniper indicated it.
This does suggest that it is not following the exact sniper set-up, maybe it's better - who knows

 

[2be]

Sniper being a trend following strat, is working well when the market is trending. It is a serious abuse to logic to assume otherwise. Since the recommended TF is H1 it is important to work out whether the market is trending or not. EW is one of the ways to assist a trader by recognising impulsive and corrective strucrure on a given TF.
There are several ways to utilise HMA, eg. Trendie's approach, when the M15 to H1 gearing takes advantage of the momentum, and taking 50 - 60 pips is very achievable this way.
On H1 however the importance of beeing aware of the market strucure is paramount. EW with fibs are great tools. If one trades correctives using sniper, one is likely to fail. Correctives consist of overlapping waves and sniper will provide a lot of entries, which will be late entries, with proportionally large SL, without a well recognised trend. The rest you better imagine rather than experience. That does not mean that sniper is a bad strat at all, it means one needs to filter it and take the best of the trades according to the market structure. If one uses EW, the 3rd Impulsive is usually the best to trade in FX. It is also poss to use different TF gearing and go in the direction of a trend on a highier TF, this is not specific to sniper, but is a good filter too.
For this reason I am not likely to use automated sniper EA, as I treat it more as confirming tool. By sniper I mean HMA which is a part of sniper. If in trade I use other methods of profit taking and SL, including traling stop, auto or manual.
Have a great weekend everybody.

 

[forexkunta]

I agree completely. I am in the process of testing the ea on demo, more playing than anything. I feel like it will be a good tool for the management of trades when not able to be at the computer screen. I still want the ability of being able to look at all of the pieces of the puzzle, then squeezing that trigger myself.
Everyone have a good weekend.
Regards,
Kent

Sniper being a trend following strat, is working well when the market is trending. It is a serious abuse to logic to assume otherwise. Since the recommended TF is H1 it is important to work out whether the market is trending or not. EW is one of the ways to assist a trader by recognising impulsive and corrective strucrure on a given TF.
There are several ways to utilise HMA, eg. Trendie's approach, when the M15 to H1 gearing takes advantage of the momentum, and taking 50 - 60 pips is very achievable this way.
On H1 however the importance of beeing aware of the market strucure is paramount. EW with fibs are great tools. If one trades correctives using sniper, one is likely to fail. Correctives consist of overlapping waves and sniper will provide a lot of entries, which will be late entries, with proportionally large SL, without a well recognised trend. The rest you better imagine rather than experience. That does not mean that sniper is a bad strat at all, it means one needs to filter it and take the best of the trades according to the market structure. If one uses EW, the 3rd Impulsive is usually the best to trade in FX. It is also poss to use different TF gearing and go in the direction of a trend on a highier TF, this is not specific to sniper, but is a good filter too.
For this reason I am not likely to use automated sniper EA, as I treat it more as confirming tool. By sniper I mean HMA which is a part of sniper. If in trade I use other methods of profit taking and SL, including traling stop, auto or manual.
Have a great weekend everybody.

 

[Soweus Weiekapis]

Hi,

I just came across this forum and thread.
I'm new to sniper forex, I've purchased it after reading all the positive reviews on forexpeacearmy. I'm trading the strategy since dec. 2nd but so far I'm not happy with it. I was wondering if you achieved similar results for dec. so far.
Problem are the many false signals. My stats since dec. 2nd until dec. 11th:

19 signals (some of them are disappeared now from the chart), 3 of them won some pips but 16 of them were wrong signals and endet in SL (or were closed when the arrow changed). The won signals gained 168 pips, the lost signals added up to -816 Pips, so overall its a loss of -648 pips.
Anyone of you achieved similar results for december? I followed all the rules. I don't know if this strategy will ever make up this drawdown when the usual month will just bring 400-500 pips. At least it seems you will face large drawdowns with this strategy.

 

[Soweus Weiekapis]

Thanks GumRai, just saw your answer on fpa

 

[2be]

Hi,

I just came across this forum and thread.
I'm new to sniper forex, I've purchased it after reading all the positive reviews on forexpeacearmy. I'm trading the strategy since dec. 2nd but so far I'm not happy with it. I was wondering if you achieved similar results for dec. so far.
Problem are the many false signals. My stats since dec. 2nd until dec. 11th:

19 signals (some of them are disappeared now from the chart), 3 of them won some pips but 16 of them were wrong signals and endet in SL (or were closed when the arrow changed). The won signals gained 168 pips, the lost signals added up to -816 Pips, so overall its a loss of -648 pips.
Anyone of you achieved similar results for december? I followed all the rules. I don't know if this strategy will ever make up this drawdown when the usual month will just bring 400-500 pips. At least it seems you will face large drawdowns with this strategy.

Hi Soweus,
Please study a bit more about the HMA, and the strenght of this system shall become more apparent. The rest is cosmetic. I would not say it does not work, at certain times it works and on other occasions it brings losses. Please read my prievoius post. If one cannot take the clues from PA and the slope and the general direction of the MAs, one is not likely to have a greater success, even when the chart looks like a well overdecorated christmass tree with many colourfull and flashing signals.
Hope your losses were on a small lots affording for another tuition fees. Stay with it, study the makets, and untill the New year trade very small lots or demo. Use the Christmas break to read some books and some other threads. Next week might be verry choppy too, though after bottoming of G/U I shall consider taking some longs, but that view has nothing to do with sniper.
Enjoy the weekend,
2be