Vaco
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the idea is not to trade gbp/usd when the uk or us markets are closed.
Sniper Forex System
- Thread starter stevespray
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the idea is not to trade gbp/usd when the uk or us markets are closed.
Hello everybody,
my name is Carlo and I bought Sniper forex too.
What is the best currency and timeframe for work with it?
I know GBP/USD, but about other currency I don't know work or not?
I start yesterday.Many trade don't go very well.....
I trade GBP/USD H1,EUR/USD H1,USD/CHF H1,USD/CAD H1 and AUD/USD H1,
Stop loss = 25 pips
Take Profit = 40 pips
Maybe I just start in a bad time?
Some advice please...... I have 4k euro,someone could give me a good strategy?
thanks a lot
bye
Carlo
my name is Carlo and I bought Sniper forex too.
What is the best currency and timeframe for work with it?
I know GBP/USD, but about other currency I don't know work or not?
I start yesterday.Many trade don't go very well.....
I trade GBP/USD H1,EUR/USD H1,USD/CHF H1,USD/CAD H1 and AUD/USD H1,
Stop loss = 25 pips
Take Profit = 40 pips
Maybe I just start in a bad time?
Some advice please...... I have 4k euro,someone could give me a good strategy?
thanks a lot
bye
Carlo
I've yet to try sniper, but those stoplosses and targets seem more valid to me for trading in a 10 minute time frame. I hope you are running with paper trades and not committing your cash yet.
You've just got the system - concentrate on the GBP/$ as recommended until you learn your way around it.
Impatience is one of the biggest enemies of the trader!
Good luck
hello GumRai,
yes, I am running with paper trading and every trade I write everything.
I start to trading yesterday with 0,1 lots every trade,
this mean every stop loss I lost about 18euro,I still don't ready for
risk 2 or 3 % of my balance.
Sorry for my english.....
thank you
Carlo
yes, I am running with paper trading and every trade I write everything.
I start to trading yesterday with 0,1 lots every trade,
this mean every stop loss I lost about 18euro,I still don't ready for
risk 2 or 3 % of my balance.
Sorry for my english.....
thank you
Carlo
Thanks for the info. Not quite such good news to me. I have been trading US and European shares and indices for some time now and have been learning about Forex because the US markets close at 3 or 4 am here. I was hoping that I could trade in a better time frame! :|
Never mind, I'm sure that there are still opportunities.
Are you still trading Elefteros? There doesn't seem to have been any updates to your journal for quite some time.
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I've not got round to trying out this system yet, just been following this thread recently. I'm fairly new to Forex and have only concentrated on Euro/US$. I don't want to confuse myself.
I would hope that if you had started on Monday instead of Tuesday, that you would have made a healthy profit going Long Euro/US$. If the system didn't pick that one up I'd be very surprised!
Since Monday afternoon, the Euro/US$ has been stuck in a range. From what I've read here, that is not optimum conditions for sniper and can give false leads.
Euro/$ is at 1.4398 as I write this and I find it very difficult to be confident at the moment. I shorted it at 1.4417 using my own criteria. I will stop out at my entry level or if it goes back down to 1.4380 again without breaking through I will be closing the deal.
Difficult these last 2 days
greenfield
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Trendie – I took that trade – rightly or wrongly!. The instructions refer to a bar that was over 170 points. The bar today was 91 points. I took the trade – I may be wrong.
Your question about Sls: A random list of some of the most recent Sls – 69, 68, 99, 50, 98, 75, 51, 73, 91, 68, 57, 90, 91, 102. I've got into the habit of entering 95, then adjusting it later. 95 was the average at one point. These most recent figures suggest an average of about 77. But you get the picture.
Bye,
Your question about Sls: A random list of some of the most recent Sls – 69, 68, 99, 50, 98, 75, 51, 73, 91, 68, 57, 90, 91, 102. I've got into the habit of entering 95, then adjusting it later. 95 was the average at one point. These most recent figures suggest an average of about 77. But you get the picture.
Bye,
trendie
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thanks for your SL data, greenfield.
just noticed there was a short on the 7-am bar. (3 red SHMAs, and Sniper Trend histos both red)
greenfield
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"if trading only 1 lot/£1 he recommends walking away for the day once you have made 100 pips."
Elefteros – About the Sniperforex exit strategy. I don't think that's what Gary says in the instructions. Either exit through the trailing stop or when there's an indicator colour change. The other strategy is an alternative - “Advanced Strategy: If your money management and equity allow...” The idea is to divide the trade into 5, exiting at 25 pts, 50 pts, 75 pts, 100 pts and letting the 5th lot ride the trend out. My variation on this is to open 2 trades – scalp 75 on one and exit the other when the system dictates. My figures suggest that 75 works well in gaining from those trades that would otherwise give back some useful profits. The other trade benefits from some of the quite impressive gains that are possible – I've had 374, 270, 470, 240 and 195 points. Not forgetting, though, that out of the 99 trades I've had so far, 52 have been wins – but 47 were losses.
Bye,
Elefteros – About the Sniperforex exit strategy. I don't think that's what Gary says in the instructions. Either exit through the trailing stop or when there's an indicator colour change. The other strategy is an alternative - “Advanced Strategy: If your money management and equity allow...” The idea is to divide the trade into 5, exiting at 25 pts, 50 pts, 75 pts, 100 pts and letting the 5th lot ride the trend out. My variation on this is to open 2 trades – scalp 75 on one and exit the other when the system dictates. My figures suggest that 75 works well in gaining from those trades that would otherwise give back some useful profits. The other trade benefits from some of the quite impressive gains that are possible – I've had 374, 270, 470, 240 and 195 points. Not forgetting, though, that out of the 99 trades I've had so far, 52 have been wins – but 47 were losses.
Bye,
I guess that when you refer to sls and Sl, you mean stoploss?
Stoplosses can be very useful, especially if you are away and unable to monitor the trade.
However..........
when you are getting close to being stopped out, you should always re-examine the trade. Think about "if I didn't have this long/short running now, would I think it a good deal to go long/short?"
If the reasons for the deal are still intact, then abandon the stoploss and think of it as a new trade at a different entry level.
As I 've been writing this, I see that I've been stopped out of mu Euro/US$ deal.
I've reopened the short position as I still see good reason for a drop back
Keep this short as I want to check out the situation more thouroly
Stoplosses can be very useful, especially if you are away and unable to monitor the trade.
However..........
when you are getting close to being stopped out, you should always re-examine the trade. Think about "if I didn't have this long/short running now, would I think it a good deal to go long/short?"
If the reasons for the deal are still intact, then abandon the stoploss and think of it as a new trade at a different entry level.
As I 've been writing this, I see that I've been stopped out of mu Euro/US$ deal.
I've reopened the short position as I still see good reason for a drop back
Keep this short as I want to check out the situation more thouroly
Sorry about my bad spelling in the previous post. My short on the Euro/$ was stopped out, but as my reasons for making the deal (right or wrong) were still intact, I re- entered, effectively scalping 5 pips. At 30$ pp that's a good bonus (if the deal comes good)!
It seems that a surge of optimism in the stockmarket has weakened the US$ and I will have to see if this optimism has any substance before deciding to quit the deal or not. It's a loser now, but this could very well be temporary
It seems that a surge of optimism in the stockmarket has weakened the US$ and I will have to see if this optimism has any substance before deciding to quit the deal or not. It's a loser now, but this could very well be temporary
This is a really weird time. It's half hour before the US stock market opens and the obvious optimism with the Ftse and German Dax is just not being reflected by the Dow Jones out of hours. this gives me concerns about any European currency position that is long vs short US$. I just don't know what to make of it. I'm still short Euro/$ so it does gibve me hope, but I feel that you need to be mointoring when the US stock markets open at 2-30 pm UK. Out of hours Dow is rising slightly now. Not enough I fear.
Any long positions against the $, keep an eye on them just in case.
Any long positions against the $, keep an eye on them just in case.
greenfield
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A 44 point loss here.
trendie
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agreed. 3 red SHMAs. but waiting now for the TrendA and B to trigger red. Looks like you may have to wait a couple of hours though, as price bars are going UP.
I am beholden to others here for trading stats, as the code is executable only, so cant run any meaningful backtest to establish robustness. (other than the sniper website for results)
trendie
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I dont use it. Just testing out other systems for spreading my risk.
I experimented with HMAs a while back.
But, since I trade pullbacks, I used them differently.
It cant have escaped the observation of some that when the price pullsback to below the blue channel, you could buy expecting price to hook back.
Similarly, short when price exceeds the top of the channel when red.
Yesterday, you would have gine long 1.6955 on the 3pm bar, and overnight you would have gone short on the 2am bar at 1.7025.
and even this morning, gone short at 1.7010 on current 7am bar.
of course, you get killed if the retrace actually turns into a change of trend.
I trade EU, GU and EJ. (and monitor GJ; wont trade till I get a decent risk profile for it.)
