Sniper Forex System
- Thread starter stevespray
- Start date
- Watchers 195
Hi Guys
Well I copied a lot of the interesting info into a text file, I'll copy that into a post in a while if no one objects. Took me a while to read the thread though lol all 358 pages
Hi
Did you get a chance to summarise your findings from this thread, I would be interested to know how you are getting on with the strategy.
Did anybody try Sniper, on the 4H time frame only, with success??
Thanks in advance for any replies.
Hi Fx365,
I traded a trial version of Sniper on the 4H time frame with some success. I abandoned it though as signals every 4 hours was unmanageable for me what with working 9 - 5 as well. Also, having two bars overnight meant that some signals during the Asian session couldn't be taken.
I now trade my own system on the 8H time frame which is much easier to manage (only 3 possible signals per day and all when I am awake
) and eliminates more of the whipsaw price action during news releases and the like.Hi Fx365,
I traded a trial version of Sniper on the 4H time frame with some success. I abandoned it though as signals every 4 hours was unmanageable for me what with working 9 - 5 as well. Also, having two bars overnight meant that some signals during the Asian session couldn't be taken.
I now trade my own system on the 8H time frame which is much easier to manage (only 3 possible signals per day and all when I am awake
Thanks for the feedback.
3 trades on any day on the 8H timeframes alone is not bad at all!!!
Well done.
U
uksoundz
Wow, what a thread, up to around page 200 so far, but it seems a shame that the thread has practically died.
I'm going to have ago on demo next week.
I'm going to have ago on demo next week.
U
uksoundz
Now at page 224, well I will give it ago and see for myself.
Just trying to setup MT4 so it emails me alerts, but doesn't seem to want to work with my gmail, did I read somewhere that gmail/yahoo etc type accounts don't work ??!!
Just trying to setup MT4 so it emails me alerts, but doesn't seem to want to work with my gmail, did I read somewhere that gmail/yahoo etc type accounts don't work ??!!
One of the things about this that really annoyed me was that it would sound imminent alerts and then trade alerts, but not when all conditions were satisfied.
You could get the alert and then sometimes have to wait for hours for the histogram to change colour.
I found the alerts to be a waste of time, totally useless.
U
uksoundz
OK thanks for that, might just leave them, I thought though with me working in an office 8-5, it might be useful to have an email alert, then I can check MT4 rather than leaving it on all day, for the boss to kick off with me.
Nice to see a familiar poster still around...
I'm nearing the end of this thread, having read all posts
even though most were skimmed... I suppose that makes me very sad lolGumRai, can I ask, do you still trade the system and find it profitable ?
Thanks.
Last edited by a moderator:
I don't trade this anymore because it required too much screen time waiting for set-ups on the recommended 1 hour time-frame. The time required for the relatively small profits - you may as well work for a living
I tried it with closed candles on the 4 hour timeframe, but couldn't get it to work for me.
I tried it with closed candles on the 4 hour timeframe, but couldn't get it to work for me.
U
uksoundz
OK guys, thanks for the advice.
Out of curiousity does anyone who perhaps still lurks around here still trade this system ???
Out of curiousity does anyone who perhaps still lurks around here still trade this system ???
I wish I never heard of this piece of crap!! It fooled me at first on my demo but when I tried it live it set me back for a few 100s of £££.. Success rate over a large sample was about 37% with a variance of 2%. Of course, with a r/r ratio of 1:2 you can still make profit on 35% success but with this crappy software you would be very lucky to get a 1:1 r/r ratio!!!
I'm very surprise how it got all these good reviews here!!! : http://www.forexpeacearmy.com/public/review/www.sniperforex.com
My guess is that most people got lucky for a while - just like I did - and wrote a good review but when they ran on a loss they never bothered to edit their "good" review.
Bottom line: Forget about all that "miracle" crap out there. You can do much better with a pair of moving averages.
***Sigh***
I'm very surprise how it got all these good reviews here!!! : http://www.forexpeacearmy.com/public/review/www.sniperforex.com
My guess is that most people got lucky for a while - just like I did - and wrote a good review but when they ran on a loss they never bothered to edit their "good" review.
Bottom line: Forget about all that "miracle" crap out there. You can do much better with a pair of moving averages.
***Sigh***
I wish I never heard of this piece of crap!! It fooled me at first on my demo but when I tried it live it set me back for a few 100s of £££.. Success rate over a large sample was about 37% with a variance of 2%. Of course, with a r/r ratio of 1:2 you can still make profit on 35% success but with this crappy software you would be very lucky to get a 1:1 r/r ratio!!!
I'm very surprise how it got all these good reviews here!!! : http://www.forexpeacearmy.com/public/review/www.sniperforex.com
My guess is that most people got lucky for a while - just like I did - and wrote a good review but when they ran on a loss they never bothered to edit their "good" review.
Bottom line: Forget about all that "miracle" crap out there. You can do much better with a pair of moving averages.
***Sigh***
Agree.
forexkunta
Established member
- Messages
- 818
- Likes
- 24
Hey GR,
Glad to see you still around. I dont trade it anymore myself due to the same reasons you lined out. I am using a 21 sma channel and like it pretty well. The setup is as follows: 21 sma of the high, 21 sma of the low, and a 5sma trigger. When the 5sma penetrates the high or low, then the entry is triggered. This is an Elliott Wave recommendation. I generally go to breakeven +5 when I reach 55 pips profit and trail my stop on the closest SMA channel line. Some weeks are good, and some weeks are not so good, but it is desined to keep you out of sloppy sideways markets. When the 5sma is in the channel then stay out. Try it on a demo and see how you like it.
Take care,
forexkunta
PS here is a screenshot. Cable has been good the last couple of weeks.
Glad to see you still around. I dont trade it anymore myself due to the same reasons you lined out. I am using a 21 sma channel and like it pretty well. The setup is as follows: 21 sma of the high, 21 sma of the low, and a 5sma trigger. When the 5sma penetrates the high or low, then the entry is triggered. This is an Elliott Wave recommendation. I generally go to breakeven +5 when I reach 55 pips profit and trail my stop on the closest SMA channel line. Some weeks are good, and some weeks are not so good, but it is desined to keep you out of sloppy sideways markets. When the 5sma is in the channel then stay out. Try it on a demo and see how you like it.
Take care,
forexkunta
PS here is a screenshot. Cable has been good the last couple of weeks.
I don't trade this anymore because it required too much screen time waiting for set-ups on the recommended 1 hour time-frame. The time required for the relatively small profits - you may as well work for a living
I tried it with closed candles on the 4 hour timeframe, but couldn't get it to work for me.
Attachments
Hi Kent,
nice to hear from you again. Not really spent much time in this forum lately.
I use bounces off 21 MA for entries, never thought of using the Av high/low to form a channel. Makes sense and I will investigate. Thanks for the tip
Cheers
GumRai
nice to hear from you again. Not really spent much time in this forum lately.
I use bounces off 21 MA for entries, never thought of using the Av high/low to form a channel. Makes sense and I will investigate. Thanks for the tip
Cheers
GumRai
synaptium, this thread has pretty much died now. That would suggest to me that nobody has managed to make this work for them and have now abandoned sniper.
Getting exits right are, in my opinion, the most difficult part of trading. All I can suggest is to look for obvious levels of support and resistance and use them.
Getting exits right are, in my opinion, the most difficult part of trading. All I can suggest is to look for obvious levels of support and resistance and use them.
Synaptium
None of these pure indicator systems ever work my friend , by the time you get the signal to open a trade 9 times out of 10 the price action will be over and will be on its way in the opposite direction.
Read this
How to trade properly in #Forex get rid of those damn indicators! | Forex Signal Services Daily Blog
Might help you out
None of these pure indicator systems ever work my friend , by the time you get the signal to open a trade 9 times out of 10 the price action will be over and will be on its way in the opposite direction.
Read this
How to trade properly in #Forex get rid of those damn indicators! | Forex Signal Services Daily Blog
Might help you out
