Sniper Forex System

Well, the trade seems to be going up more...My stop is at BE now because I cant monitor the trade anymore!

Just an observation I made: Does anyone else agree that the sooner TREND-A and TREND-B agree with the arrow, the more reliable the signal?? For example, the trade that resulted in a loss this morning(19 oct)would not have been taken as the TRENDS took a while to agree..Feedback anyone?
 
Sniper short time frame

Well looks like Cable trade has turned now :(

On another topic has anyone had any success trading Sniper on a very short time frame (say 5M) successfully?

Thanks
 
WOW, stopped out AGAIN. thats 2 stop outs for big losses this week. Anyone goign to come out and defend this system?
 
gangsta1 said:
WOW, stopped out AGAIN. thats 2 stop outs for big losses this week. Anyone goign to come out and defend this system?
Click to expand...

Hmmm, well, heck yeah! Sniper is a good system. Period. Losses ARE something that will happen, especially with the crazyness of the market this week. Just have to be confident that in the long run, you will be profitable. I had 600 pips in wins last week. So what if I give a few back this week. Those profits came the last 36 hours of last week with a few losses to start the week, so dont despare, it will turn and you will be praising Sniper again.
Just look at the losses as a part of doing business!
Regards,
Kent
 
woow so you base conclusions over 2 trades... hell even 20 trades to base conclusions is rather poor.

Unless you statistically show something wrong with the system with a data sample of at least 500 then those statements are bogus.

When evaluating a system or any kind of strategy I look at least for 1000 events...

and how on earth you had big losses? I for instance today alone have 2 trades down 500 pips in aggregate... they are responsible for a loss of 1.7% of my equity.
 
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forexkunta said:
Hmmm, well, heck yeah! Sniper is a good system. Period. Losses ARE something that will happen, especially with the crazyness of the market this week. Just have to be confident that in the long run, you will be profitable. I had 600 pips in wins last week. So what if I give a few back this week. Those profits came the last 36 hours of last week with a few losses to start the week, so dont despare, it will turn and you will be praising Sniper again.
Just look at the losses as a part of doing business!
Regards,
Kent
Click to expand...

the problem is most people stop trading when are enduring those losses... and it's when they stop it, to give it a pause or something, that the big moves happen... so they stay in this kind of cycle... very similar to law of murphy
 
Mate,

You DO not know how much I have lost, how much im trading, how many pips im down okay. So no need for the bogus statement.


salvadorveiga said:
woow so you base conclusions over 2 trades... hell even 20 trades to base conclusions is rather poor.

Unless you statistically show something wrong with the system with a data sample of at least 500 then those statements are bogus.

When evaluating a system or any kind of strategy I look at least for 1000 events...

and how on earth you had big losses? I for instance today alone have 2 trades down 500 pips in aggregate... they are responsible for a loss of 1.7% of my equity.
Click to expand...
 
gangsta1 said:
Mate,

You DO not know how much I have lost, how much im trading, how many pips im down okay. So no need for the bogus statement.
Click to expand...

So, are you trading demo or live? If you are trading live, then a good course on money management would be in order. If you are trading live, and have only just begun trading Sniper, the I would suggest dropping back to a demo account for at least 30 days to get a feel for the system, then go live again. I have taken 6 losses this week for a total of 188 pips, and that is only 4% of my capital. When this crazyness in the market changes, then I will make that back and then some. Sniper is doing its job. The market is a litte nuts right now, so experiance would help you do better. Taking each and every alert, is a sure way to extinguish a trading account. Of course, I have been trading more than one pair, so my losses have been tripled. Cant fault the system, when the Price action is screwey.
Sal, anything to add?
 
forexkunta said:
Taking each and every alert, is a sure way to extinguish a trading account.
Click to expand...

Surely you have to take each and every alert as the system dictates? If you don't then you may miss a major move. Or do you have some way of filtering out the good signals from the bad?
 
schweepus said:
Surely you have to take each and every alert as the system dictates? If you don't then you may miss a major move. Or do you have some way of filtering out the good signals from the bad?
Click to expand...

I wanted to ask the same.
I believed that all Sniper signals must be taken if conform with the rules written in the manual.
 
Almandine said:
I wanted to ask the same.
I believed that all Sniper signals must be taken if conform with the rules written in the manual.
Click to expand...

Well, I filter with Elliott Wave theory and the plain and simple aspect of, dont take trades against a trend. It is like riding a bicycle the wrong way on a railroad track. Of course, you have to have a good working knowledge of EW to know when that trade is against a trend or a correction of a recently completed 5 wave move. If you are going to trade forex, then you NEED all of the tools that are available. Gary has a link to the EW website on his web page. I suggest you start there, and study EW theory. Then you will know when not to take a trade.
The last 4 days has been a very trying time with Sniper. Weird price action is a good reason for the losses that have been taken lately. I have taken some myself. But that crazy price action is no reason to put down a great trading system, it is just reporting what it sees as it comes along. It doesnt have a crystal ball and can see into the future. It just alerts on trending price action and keeps you in it as long as possible. That is it's forte. Unfortunately, this week, that is not what has been happening. But I know that if I stay with it, it will change and I will get a good trend and I will make up what I have lost. Period, end of story. There are alot of other users here that feel the same way. It is good, and experiance and time on the charts will help everyone do and trade better. If you are a newbie, then hang in. It will get better. Just watch your money management. IT IS THE MOST IMPORTANT ASPECT OF TRADING!
Also bear in mind, that if you are taking the alerts after the NY close, and before the London open, you are not adhering to the rules.

Regards,
Kent
 
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Well as I currently sit in another -50 pips (taken on the GU at 19:00 alpari UK time) I am telling you sniper lovers that i will be sticking by this system and I know it cannot predict the future, no system can...Its just I dont like claims being made that cant be backed up---->not saying they havent been, but only time will tell.. Ps. How do I upload charts?
 
gangsta1 said:
Well as I currently sit in another -50 pips (taken on the GU at 19:00 alpari UK time) I am telling you sniper lovers that i will be sticking by this system and I know it cannot predict the future, no system can...Its just I dont like claims being made that cant be backed up---->not saying they havent been, but only time will tell.. Ps. How do I upload charts?
Click to expand...

Well, if you are currently down about 50 pips, join the crowd, so am I. I just didnt time my entry correctly. But, as luck would have it, we are just about to begin wave c down, which is the last of the 3 corrective waves according to elliott wave theory, and I am poised to enter another position when I am sure the top has been made. So, hang tight, you are about to go for around a 145 pip ride south.
 
the next loss

:cheesy:

hi all

yep thats the next loss, everybuddy can see there is no trend.

there is only PA , and a trend in small TF and another in bigger TF, but the actual trend start at the tickcharts,.

also EW no will show you the way, but many believe and sometimes yes, Kent :sneaky:

and there is again PA , thats tell me at different TF, HH and HL or LH and LL that tell me to go in some trade if that level cross.

but for sys same sniper,
there is only a statistic that tell you in the long time you will be better if you take all trades at pairs same cable, coz of the behavior to make some home run.

all filter will sometimes help you to not trigger a loser, but sometimes also not let you in a winner, if someone can show me one thats realy work , please not only say I have, show for confirm over a long time.

I read so many thread for systems all have the same prob , the want to look for a good filter (holy grail) but if someone found he will be a billionaire.

and the big banks hire thousand of people for that , but also don't have, only they have big pocket , so they can make better $$ then we.

thats my 2 cent after some losses in a row

cheers
 
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upload charts

gangsta1 said:
Well as I currently sit in another -50 pips (taken on the GU at 19:00 alpari UK time) I am telling you sniper lovers that i will be sticking by this system and I know it cannot predict the future, no system can...Its just I dont like claims being made that cant be backed up---->not saying they havent been, but only time will tell.. Ps. How do I upload charts?
Click to expand...

hi gangsta1 ,

in the window for "Reply to Thread "go down "Additional Options " in the box "attach Files" click " mannage attachments" a new window will open there you search for your file and click "upload"

hope that will help you

cheers
 
forexkunta said:
So, are you trading demo or live? If you are trading live, then a good course on money management would be in order. If you are trading live, and have only just begun trading Sniper, the I would suggest dropping back to a demo account for at least 30 days to get a feel for the system, then go live again. I have taken 6 losses this week for a total of 188 pips, and that is only 4% of my capital. When this crazyness in the market changes, then I will make that back and then some. Sniper is doing its job. The market is a litte nuts right now, so experiance would help you do better. Taking each and every alert, is a sure way to extinguish a trading account. Of course, I have been trading more than one pair, so my losses have been tripled. Cant fault the system, when the Price action is screwey.
Sal, anything to add?
Click to expand...

my only addition is although i don't trade sniper, I do take every signal issued from my system... we can never know when a huge move may happen...so i stick with it. of course i am comfortable losing 5 or even 10 times in a row, but that's me... some people may be uncomfortable under such environment
 
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