Sniper Forex System

[wembleyboy]

Has anyone ever used Sniper with options at all ???

The reason why I ask is that when I used the daily time scale it seems to catch quite long trends .....if any one has tried this would like to hear your experiences ??

Cheers

 

[GumRai]

Hello all

JD, It is not necessary to trade 24 hours to be profitable in forex (I would go crazy if I had to monitor my positions around the clock), You can use Sniper and be profitable just a few hours per day. The best signals occur during European session (GBP/USD) however if you traded only US session you would be profitable as well,
The red dots (sniper stops) are ATR stops, so look around the internet and perhaps you can find a money management EA that will close the trade at ATR stop levels, I have it seen it before, but don't remember where.

Regards

I have to disagree that you can just trade this a few hours per day.
I was trading with this system a year ago and found that missing just one trade could make the difference between a winning and losing month.
I gave up with this, not because I considered it a bad system, but because I just found it too exhausting to trade it according to the instructions.
I never understood why there were so many alerts when conditions were partially met to open a trade, yet there was no alert for when ALL conditions were met.

I tried it with the 4 hour charts, only checking at candle close for a while, but it just didn't work for me. It does seem to work best with H1.

I had an email some time back. Apparently they were offering a new service to manage accounts/trades for 99$ a month or something like that. Not something that I would want to do. Did anyone sign up for that?

 

[pipsmasterone]

Hello everyone

GumRai, what i meant by trading few hours per day is you can take signals in a few hour time frame, statistically it does not make a difference if you trade 2-3 hours or 24 hours, in the long run you will have the same winning percentage. In fact if you take signals only during liquid periods, your win ratio will improve, its only logical.
I agree sniper is quite screen-time intensive, however you could drop to lower time frames (ex. 15 min) and be successful
In regards to all the negative postings about sniper, as Forexkunta already stated - you can do a lot worse than sniper. I don't have any affiliation or any interest in promoting this software but like a lot of traders here and on other forums, it was the first system I made money with, more importantly, with it I learned how to trade. For all of you that think that some out of the box software will guarantee you success, you are in for a rude awakening. Do you really think that blindly following a signal with a $100 software will replace your day job and will buy you that mansion on the hill. Are some of you that naive?. You will just keep jumping from a system to a system and will call a scam anything that does not fulfill your unrealistic expectations without really finding out what it is that makes markets tick. Trust me, you will get your full value from a system like sniper if you take the time to really find out what it is that makes this approach successful or unsuccessful-(as some of you claim) Once you can do that, you can look at any approach and within a glance you will be able to say if its profitable or not, you will not be "working" for systems and indicators, they will be working for you since you have a comprehensive understanding of market dynamics and what it takes to win in this game

Best Regards

Best Regards

 

[forexkunta]

Soooooo....... i bet everyone wishes that they had been using Sniper the last couple of weeks! Has been very profitable, at least for me. LOL That is the deal with most methods, When the markets are not trending, or you think it is not trending, everyone disses the method. But when a good trend sets up, then bam..... Everyone thinks it is the sh1t!
Bear in mind that I do not use it explicitly. I use other things to analyze the markets, also. Sniper is just one way to do an analysis. If I am expecting a turn via analysis with Elliott Wave, I use Sniper to alert for an early entry. Sometimes I get burned, but not much.

 

[captainscarlet]

Soooooo....... i bet everyone wishes that they had been using Sniper the last couple of weeks! Has been very profitable, at least for me. LOL That is the deal with most methods, When the markets are not trending, or you think it is not trending, everyone disses the method. But when a good trend sets up, then bam..... Everyone thinks it is the sh1t!
Bear in mind that I do not use it explicitly. I use other things to analyze the markets, also. Sniper is just one way to do an analysis. If I am expecting a turn via analysis with Elliott Wave, I use Sniper to alert for an early entry. Sometimes I get burned, but not much.

Hi Forexkunta,

I'm reading this thread through from the start and I'm currently up to around August 2009. You mentioned around that time that you use Sniper with the 30min timeframe with the usual Sniper S/L. Is this still the case? I appreciate that you now also use EW to confirm setups etc., but have you generally always used Sniper with the 30min TF and found it to me more usable than the 1H TF? Also, which pairs do you trade with Sniper?

Many thanks.

Neil.

 

[forexkunta]

Works best on 1H. Stick to the manual.

Hi Forexkunta,

I'm reading this thread through from the start and I'm currently up to around August 2009. You mentioned around that time that you use Sniper with the 30min timeframe with the usual Sniper S/L. Is this still the case? I appreciate that you now also use EW to confirm setups etc., but have you generally always used Sniper with the 30min TF and found it to me more usable than the 1H TF? Also, which pairs do you trade with Sniper?

Many thanks.

Neil.

 

[captainscarlet]

Works best on 1H. Stick to the manual.

Thanks.

 

[forexkunta]

As an addition, the 30M chart is fine, if you have the time for the many signals on a daily basis, which I don't. You would have to put Sniper on other currencies and judge the signals for yourself.

Thanks.

 

[captainscarlet]

As an addition, the 30M chart is fine, if you have the time for the many signals on a daily basis, which I don't. You would have to put Sniper on other currencies and judge the signals for yourself.

Thanks forexkunta,

I'm going to papertrade in December as this historically seems a weak month for Sniper. I'll play around with pairs and timeframes at the same time.

Cheers.

Neil.

 

[forexkunta]

WOW, Sniper is sure catching these great moves on Cable and the Euro!!!!!

 

[jshous]

I'm trying to get the alerts sent to my cell phone. I have Verizon. I know you can use [email protected] to get messages sent to your cell....doesn't seem to be working....do you need to specify a port? some posts I've read say use port 587. Any ideas? All help appreciated. JH

 

[captainscarlet]

I'm trying to get the alerts sent to my cell phone. I have Verizon. I know you can use [email protected] to get messages sent to your cell....doesn't seem to be working....do you need to specify a port? some posts I've read say use port 587. Any ideas? All help appreciated. JH

Haven't used that functionality so can't help I'm afraid.

 

[The Stockman]

Any Sniper life out there ? ?

 

[2be]

Any Sniper life out there ? ?

Sure we are here busy trading!
I use sniper as a confirmation of the trend on H1 and it is a part of my overall strat for intra day trading.
I also use Delta counts, trading that is using different time cycles. It all fits together.
All I have posted about sniper still works for me, and if it works why change it.
All that one needs to know about this approach has been well described in this thread, and I shall not loose more time repeating the obvious. It is a good system, and a good system with a mediocre trader shall lead to some profits.
many good trades to all!
2be

 

[The Stockman]

Thanks for the update 2be. . .

Will be uploading it on to my MT4 again shortly

 

[2be]

Hi Stockman,
Please observe that I use sniper in a different way, not as a stand alone system. I do not take the trades on the strength of sniper signals alone, but I use HMA as an indicator of a trend on H1 TF. There is also an indication of R/S which provides useful insight. Please read the other postings on this thread, as many traders have discussed various ways of utilising this approach or parts of it.
Please do not think that I am unhelpful, but there is a limit of usefulness of repeating that same massage many times over. For some other parts of my trading approach/es please go top JUJU private, but free thread. Trendie is moderating it and will arrange for the access if you follow the procedure. Meantime I wish you the very best,
2be

 

[The Stockman]

2be,

Thanks for watching out for us.

I have used Sniper in the past and have also read this thread at length.

Gary (Mr Sniper himself) swears blind about using Sniper as a stand alone, but as you say, there is enough in this thread to suggest some additional indicators / measures will help shake out the false starts.

I will also check out your tradings systems which I get the opportunity later today.

May the Pips be with you !!!!

The Stockman

 

[rp101]

Hi Everyone , ok so I get to the last page (358) and everyone disappeared !
Where did everyone go ?

There is some great info in this thread congratulations to all contributors :clap:

Paul

 

[2be]

Hi Everyone , ok so I get to the last page (358) and everyone disappeared !
Where did everyone go ?

There is some great info in this thread congratulations to all contributors :clap:

Paul

Hi Paul,
a lot of good traders are trading, the rest are??? and the others are still searching.
Pointless to repeat what has been said that many times, and I find it is not a good practice to post too many live trades.
It is good that you have read and studied this thread, it shall prove beneficial in many ways.
I am still using it as part of my overall trading approach.
Keep at learning, dig deep and develop further as a profitable trader.
Best wishes
2be

 

[jducheine]

As a trend following system, Sniper has its bad and good times. My observation over a year and a half of forward (live) testing on paper has been that that it requires a lot of monitoring time using Sniper on the 1 hour time frame (or lower which is not recomended). I don't speak for everyone, but in order to achieve the best results, I have documented that I would have to take "all signals" all the times from a portfolio of three pairs (I follow GBP$-EUR$-EURJPY) in order to achieve 8 to 15% per month (using a constant 2% risk per trade).

If you have any finding of your own, let me know.