You are right and profit taken. But I still think there is more on the short and Sniper thinks the same
Sniper Forex System
- Thread starter stevespray
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You are right and profit taken. But I still think there is more on the short and Sniper thinks the same
Sounds like you want to toss a coin! Bad strategy!! If your strategy tells you to go short, go short. If in doubt do nothing. Easy, till you try!!!!!!!!!
BTW, I am trialling Sniper. Seems an excellent tool.
Also trialling an autotrader, not Sniper, which has done brilliantly on GBPUSD (long then reversed into short) over the last two days. Sadly paper trades only.
With all due respect your assuptions are wrong - no toss of a coin and no bad strategy!!!
It was you who said you had a dilemma!! You feel indecisive. If you had a strategy, your decision would have been made for you. Nothing personal at all, just logic.
stevespray
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Hi Paul,
Trust all is well.
To answer your question - Much of what I have is based on stocks or index trading. I have reasonable exposure in those areas. I'm now looking to explore forex much more deeply than before because I feel that it has much greater potential than the other stuff which I do. Also the recent moves in the equity markets have become less profitable although I did do very well in the intial 'sell off' at the start of the 'credit crunch'.
Already I have discovered that the forex markets work very differently to the stock / index markets, not in mechanics, but how and when moves occur. I find this quite interesting. In my opinion fx trading opens up more avenues for 'automated trading' than index or stock trading. Why? because of the sheer number of sharp relentless trends which occur. My mind is of a logical nature and therefore certain approaches suit my inner personality. For example I've been looking at the intial moves in the fx markets near the start of the London session. It seems to me that a few hours trading can yield massive results. This frees up much more time which is pretty important to me. If you are interested then take a look at Phil Newton's (Newtron Bomb) stuff in his thread which is also in this section of T2W - some of the stuff there is priceless (imho).
The Sniper system is of particular interest to me for several reasons;
Firstly it tracks trends. Obviously that means that in a trendless market it might slowly consume funds when false breaks occur but ultimately the GBP/USD pair (which is the systems primary market) does trend sharply and these trends can and do last several days sometimes. The results are also pretty steady month on month which is also very nice since the more uneven the equity curve the hard the system is to keep trading during draw downs.
I hope that this provides you with some insight / food for thought.
Out of interest do you trade much in the way of forex yourself?
Take care,
Steve.
Yes Sandy I can google - Thank you for the advice!
but your the one who was comparing it against Concept which IS an EOD system.
Thanks
but your the one who was comparing it against Concept which IS an EOD system.
Thanks
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Hi Sandy,
what is the system called or the website for "autotrader". And yes before you ask i have googled it
what is the system called or the website for "autotrader". And yes before you ask i have googled it
stevespray
Experienced member
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Hi Sandy,
what is the system called or the website for "autotrader". And yes before you ask i have googled it
Try googling "Expert Advisor" or "MT4 Broker".
Also... Forex trading with Alpari. Real time foreign exchange trading services. Free forex news, forex charts, analysis.
Steve.
I confirm
Check out some of my trade sheets on my blog...Anything thats not marked as Bogie, or HAS, is profit from either me or the forex tracer. Its doing real nice. The system is straight forward and easy to operate.
Peter
Automated Forex
I confirm
Anything thats not marked as Bogie, or HAS, is profit from either me or the forex tracer. Its doing real nice. The system is straight forward and easy to operate.
Peter
Automated Forex
Thank you Peter.
I noticed on your blog you said that you missed a couple of good trades because you fell asleep. Does that mean you have to check all the time?
Well, I have heard rumours of an automated version.. but I am only trialling the version which contains custom indicators. It doesnt do the trades for you.
Peter
anddy26
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I Have just bought it! £99 just? seems to good to be true as does concept but hey at £99 its for nothing..but this system isnt automated! yet!!
Andy, whihc option di dyou take as I can't see one for £99?
That doesn't show on my screen and I purchased it yesterday discounted form 597 to 297. Ummm!
No, manual system and in dollar quote. Even now if I go to the purchase screen it shows $297. So you must have been lucky.
