Sniper Forex System

[FormulaOneFan]

cable currently at 1.6473 I will probably enter short at 1.6450

 

[pircj]

My trade goes well:

Current P/L: 56 pips (max.P/L: 56 pips)
Trailing Stop at 1.6532 ~ -26 pips
Entry at: 1.6506
Initial SL: 1.6552 ~ -46 pips
Max. reward risk ratio: 1.21:1 (max P/L vs. initial SL)

 

[GumRai]

My trade goes well:

Current P/L: 56 pips (max.P/L: 56 pips)
Trailing Stop at 1.6532 ~ -26 pips
Entry at: 1.6506
Initial SL: 1.6552 ~ -46 pips
Max. reward risk ratio: 1.21:1 (max P/L vs. initial SL)

Isn't that trailing stop a bit on the tight side? - only 26 pips?

 

[pircj]

No, -26pips means that if the trade closes at the trailing stop we would end up at -26 pips (initially at -49pips).

Trailing stop is set as per original system - Sniper Stop and 10pips beyond.

Check the level of the trailing stop and current price. At the time of writing this message the distance to trailing stop is at around 67pips.

Jerrry

Isn't that trailing stop a bit on the tight side? - only 26 pips?

 

[trendie]

Hi Trendie,
can you let us know the extent of your modification of the original system and what exactly did you do and why?

Thanks,

Jerry

don't want to mess up this original thread.
maybe on a separate Sniper variant thread?

 

[2be]

cable currently at 1.6473 I will probably enter short at 1.6450

Be careful shorting cable when equties are on the rise, Asia has finished with good gains.

 

[pircj]

Well, this thread is really not trying to just discuss the original system - though many follow it (myself including). If others don't object I am sure you can post your vairan here

Kr, Jerry

don't want to mess up this original thread.
maybe on a separate Sniper variant thread?

 

[pircj]

Sort of not much of a room to go down - unless it breaks it BIG time!

 

[pircj]

And as 2be stated, stocks are up, meaning USD weakens

Sort of not much of a room to go down - unless it breaks it BIG time!

 

[GumRai]

Be careful shorting cable when equties are on the rise, Asia has finished with good gains.

Yes, the $ weakened most of this year as equities have risen, but that seems to have turned around a bit just recently.

 

[pircj]

My short trade is very calm and sideways between daily and weekly pivot point. Still positive at around 15 pips though...

 

[pircj]

Immediately after my post the price moved up and seems to be still moving up... Expecting close at trend stop and 10pips beyond as per original rules - unless price reverses...

My short trade is very calm and sideways between daily and weekly pivot point. Still positive at around 15 pips though...

 

[karl6666]

sniper - cable 30 mins, long 1.65026 on the alert, watch out for the line up

k

 

[FormulaOneFan]

sniper - cable 30 mins, long 1.65026 on the alert, watch out for the line up

k

not all histogram are blue mate.

 

[trendie]

sniper - cable 30 mins, long 1.65026 on the alert, watch out for the line up

k

how do you decide when to trust the 30-mins as opposed to the 60-mins, if they give conflicting signals?

for example, the 60-mins is all red, except for Sniper trendA, and thats the one that fluctuates more than the SniperB, ie, more likely to switch back to red, than all the others likely to switch to blue.

 

[FormulaOneFan]

Be careful shorting cable when equties are on the rise, Asia has finished with good gains.

luckily IG index was very slow at that point. So didn't go with it. Moved from demo to live account now but playing only 0.10p per point as part of tradesence. So for the next 6 weeks its only between 0.10p - 1.00p

 

[2be]

There is no need to trade in such choppy water, I shall wait for the market to show more evidence as to where it wants to go. meanwhile I am flat. Got few scalps on my M5 system, but that is all.

 

[GumRai]

This is the 6th day that I've demoed Sniper. I can see that the system is up against it when the markets are trading as they have been the last week.
One week is just not enough to demo this system, but I can definitely see the possibilities.
I've not been able to set up a PayPal account as yet, I didn't know exactly how to do it as they wouldn't accept my debit card for some reason ( over 3000 pounds in the account).
I think that I've got the PayPal account underway now, but they have to make 2 small deposits into my bank account to confirm. This all takes time and I guess my demo version will expire tomorrow.
So for now, I think that I will have to try to download another demo using a different email account.
I've been using the Alpari platform for the last week and daunting as it was finding my way around a new platform - I'm impressed. It's a shame that Alpari only seem to deal with Alpari as I'd like to be able to use the superior charting in the Stockmarkets as well.
Does anyone know and recommend a platform similar to Alpari that includes stockmarket indices and shares as well?
Thanks for any advice

 

[FormulaOneFan]

There is no need to trade in such choppy water, I shall wait for the market to show more evidence as to where it wants to go. meanwhile I am flat. Got few scalps on my M5 system, but that is all.

I agree. I'm waiting for everything to be blue in 1 hr before i move in. Is M5 system any good for scalps? if you don't mind could you provide any links please?

 

[karl6666]

how do you decide when to trust the 30-mins as opposed to the 60-mins, if they give conflicting signals?

for example, the 60-mins is all red, except for Sniper trendA, and thats the one that fluctuates more than the SniperB, ie, more likely to switch back to red, than all the others likely to switch to blue.

Im looking at 30 mins to be in quicker. But look at the cable 30 mins, we are waiting for the ' 3 matches ' waiting for sniper b now , when its already up 70 ish and falling back

K

lets just wait and see

K