Sniper Forex System

Be wary guys - the guys at www.systemsfortraders.com have just dropped down to trading half their usual size on Sniper !!!! They made a loss in May using Sniper even though there was a 1000 pips sell off in the first 2 weeks - Not trying to put you off - just saying - may be a just reason for being cautious.


W
 
Sniper is still performing just fine on Guppy.

Be wary guys - the guys at www.systemsfortraders.com have just dropped down to trading half their usual size on Sniper !!!! They made a loss in May using Sniper even though there was a 1000 pips sell off in the first 2 weeks - Not trying to put you off - just saying - may be a just reason for being cautious.


W
 
Sniper is still performing just fine on Guppy.

Hello Kent,
Yes, GBPJPY has done well, not a losing month since April. Just as well, because GBPUSD has been pretty awful, particularly during May. Both seem to be making some useful moves this month though.

Taking profits at the right moments makes a big difference (though obviously frustrating if the trade goes on to make a few hundred points).

The 2 trades at the moment are doing well, 146 pts up on cable, 88 pts up on GBPJPY.

I've been experimenting with EURJPY but it's not going too well.
 
Greenfield,
I have traded E/J in the past with good results. Just hang in there. I have found that the jpy crosses really do the best overall with Sniper, because of the volatility. They just make longer moves in a trend then everything else. But as with all pairs, Sniper reports what the pair is doing, not reading the future, so hanging in there is important. When trends are non-existant, then losses can be incurred. I have found a love for the 30M time frame with Sniper of late. You may want to check that out. Losses are much smaller and wins are much larger. However, trading 2 or more pairs on the 30M would become a full time job. Would not work for a part timer. I will be sticking with Guppy for the forseeable future on the 30M chart. I sure wish your discipline could be injected like a shot. Would really come in handy.(y)

Regards,
Kent

Hello Kent,
Yes, GBPJPY has done well, not a losing month since April. Just as well, because GBPUSD has been pretty awful, particularly during May. Both seem to be making some useful moves this month though.

Taking profits at the right moments makes a big difference (though obviously frustrating if the trade goes on to make a few hundred points).

The 2 trades at the moment are doing well, 146 pts up on cable, 88 pts up on GBPJPY.

I've been experimenting with EURJPY but it's not going too well.
 
Hello Kent,
Yes, GBPJPY has done well, not a losing month since April. Just as well, because GBPUSD has been pretty awful, particularly during May. Both seem to be making some useful moves this month though.

Taking profits at the right moments makes a big difference (though obviously frustrating if the trade goes on to make a few hundred points).

The 2 trades at the moment are doing well, 146 pts up on cable, 88 pts up on GBPJPY.

I've been experimenting with EURJPY but it's not going too well.

Also as I've been saying, concentrating only in one asset is risky... spread the risk across other assets/pairs other than GBPUSD only....

someone that has been trading the eurusd for the past 6 months can't be doing too bad :D
 
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hy am obinna patrick,am a nigerian and a cool hard working guy who recently started trading forex.am looking forward to cordial reletionship with you guys
 
Where did you obtain the EA from? Just curious.
Kent

Hi All Members,first message on here for me. In the space of one week of testing on my demo account, the robots made 28 trades and 27 of those trades ended up in profit (96% accuracy rate). I simulated with a starting capital of $1,000 and it ended the week on $1,175. Immediately I attached the robot to one of live accounts and today it is generating returns similar to that of my demo account.
 
Here is the text of the email that I received from the forum announcing the post.

Dear forexkunta,

KellyTraders has just replied to a thread you have subscribed to entitled - Sniper Forex System - in the Forex Strategies & Systems forum of Trade2Win Forums.

This thread is located at:
http://www.trade2win.com/boards/forex-strategies-systems/37134-sniper-forex-system-new-post.html

Here is the message that has just been posted:
***************
Hi All Members,first message on here for me. In the space of one week of testing on my demo account, the robots made 28 trades and 27 of those trades ended up in profit (96% accuracy rate). I simulated with a starting capital of $1,000 and it ended the week on $1,175. Immediately I attached the robot to one of live accounts and today it is generating returns similar to that of my demo account.
***************


There may also be other replies, but you will not receive any more notifications until you visit the forum again.

All the best,
Trade2Win Forums
 
GR,
Now I am confused. Earlier that post was just prior to the reply, IN THIS THREAD. Weird.
Otherwise I would not have replied to it.
Kent

I guess that the post was made in error, then it must have been deleted

You get a certain amount of time after making a post to edit or delete it
 
Not been in here for a while but seems no posts since June! Is anyone still using Sniper?

I abandoned it a while ago and am now trading my own system since the start of the year which is doing ok, despite July which wasn't too good, esp. on GBPJPY. Anyone still using Sniper?

Schweepus
 
Hello all

I am still using sniper, however I refined the rules somewhat and it is still consistently profitable for me, I think, the basis of the system are sound however volatility is required for sniper to shine, which sometimes is present and sometimes is not, even in uptrends or downtrends. Any system which aims for higher profit in a trade than the potential loss has the basis of a very good system.
 
Hello wilczek and hello everyone

I am familiar with that website and I have been following it since it started,
I don't understand why they took this system off, they seem like experienced traders and they should realize that all systems go through periods of inferior performance, in addition they don't seem to follow the system instructions exactly - especially with reentries.
Look, a lot of great fund managers have loosing years not to mention months and they manage hundreds of millions of dollars.
As far as vendor's published performance, on good months, my performance is not as good as his, however during bad months I usually have a better performance. I only trade the London and US session and would take any valid signal an hour before the start of the London session, I also use a larger time-frame RSI based filter which weeds out some of the bad trades especially during sideways market, Think about it, if you are only in half of the trades during loosing sideways market, your draw-dawn will usually be half, in prolonged trends you will always be on the right side of the trade anyway.
This is a basic system which uses hull moving average (high, low, close) with SAR and another momentum based filter, and basic is usually best in the markets, why? because over-optimization leads to failure, when trading you need an all-season system since you never know when seasons change and you don't want to be caught in your shorts in the snowstorm.

Regards
 
I totally agree with pips masterone, anyway, sniper has proven to be a good system - at least for me - when i have followed it, i dont follow it basically for the hard criticism that masterone makes, i also trade only at London and US markets and basically i also use a couple of oscillators - RSI and MACD - those filters are used as FILTERS not as a desition making tool, my desition making tool is basically MA with a very good modification i have made to the three ducks.
I never follow the "Grand genious" advices because most of the times they are wrong and anyone - with a good training - can see it, at my begginning they cost me a lot of money, so i just rely on my own method and i make use of as much patience as i can because i use 1 anf 4 hr tf´s with an eye at the daily chart.
 
Yep fair comment guys I think they got lazy personally, e.g. trading 0600 to 2000 or whatever it is
 
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