forexkunta
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Clear cut case of money management be damned LOL. Sooner or later, that will bite. I would much rather build slowly every week, than get killed in the long run.
Sniper Forex System
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salvadorveiga
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it's not a matter of the big stop losses... i could use a stop loss of 1500 pips for what I care... larger stops less exposure... but yeah in his account 200 pips would be pretty much in the beginning of his journey would be a 2000$ loss in a 5000$ account ... so a 40% risk
but a great achievement nonetheless... 1500% in what? 3 months or 4 I believe... is pretty amazing
I agree with you that his money managment is quite risky. But what impress me he is able to pick the highs and lows of any currency pairs quite accurately and his Risk/Reward Ration is very good. He is risking 200 pips to make 500 or more pips. His method can work well if he used mini-lots instead of STD lots.
forexkunta
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Yes, and the only thing out there that can accurately pick those tops and bottoms is with Elliott Wave analysis. This popped out in my head when this thread was first mentioned here.
Kent
He is definetely using Elliot wave theorie because he was mentioning correction and wave on his board but he is also using Historical High and Lows.
Hello all,
I did skim though that thread you are referring to. Glad to see someone win big, but he's a true gunslinger.
Has anyone ever looked at using sniper with daily charts. It does seem to me that if you are prepared to go along with the extremely large stoplosses, that gains similar to his are possible. It would not be for the fainthearted though.
I did skim though that thread you are referring to. Glad to see someone win big, but he's a true gunslinger.
Has anyone ever looked at using sniper with daily charts. It does seem to me that if you are prepared to go along with the extremely large stoplosses, that gains similar to his are possible. It would not be for the fainthearted though.
forexkunta
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GR,
I have looked at the Daily and am not ready to commit to 350pip s/l except in demo trade. My live account will not support that. The trades on daily would be long term, taking as long as 6 months or more to complete, but on the other side of the coin, you could take 7000 pips gains during that time. In the future when I have a much larger account, I will be looking at that possiblity, just due to the fact of not watching charts as intently and often. But the day trader personality in me says I probably wouldnt be able to last 3-6 months on a trade, but that is just me.
Kent
Hi kent
you could trade with a larger stops provided you change the values of the pips according to your account size. If your account is 1000$, you will trade 0.01 per pip. So with 350 pips S. L. you will be risking 35$ i.e. 3.5% of your account but you will be earning 700$ on the long run. It all comes down to money mngmt.
Yes, Kent,
I have to agree with you. I can see that trading the daily chart could be a good thing, but the idea of using such large stoplosses, sometimes higher than 500 is pretty daunting. Unless you are lucky and get a big gainer early on, a few 300 plus stoploss hits would tend to dent the firmest resolve.
The big gains of thousands of pips would be good though
For the moment I will keep to the smaller timeframes, keep learning and hopefully start to build a bigger forex bank
FormulaOneFan
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I'm interested to know what was CC's method. He didn't reveal his trading system but from screenshots of his chart we can understand few of his methods. Like kent said he must be using EW to predict the waves. Most of his big wins came within few days rather then weeks or months. He basically doubled his account in less then 10 days. That's bloody impressive.
2be
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Hi GumRai and all,
I do use sniper with the daily analysis and ew. This way allows the longer perspective and on position trades one has to use larger SL with larger rewards. It is important to get these larger rewards so that the risk/reward ratio is max profit positive, as the drawdowns can be temporarily larger then when trading intra day or just sniper.
forexkunta
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Hey GR,
How is it going?
Kent
How is it going?
Kent
Hello Kent,
sorry - may have missed you. Same as you, I usually just leave the computer on, so it shows that I'm reading this thread, but I'm off somewhere else.
2be, very interesting. To be honest with you, I am thinking more along the lines of trading 4 hour and daily charts. Sometimes, I don't want to be tied to the computer waiting for trading opportunities. I say sometimes, because I actually do enjoy doing the analysis and learning as I go.
Please don't forget, and you Kent, anytime you do have a chart or theory with using EW with sniper, I for one would always be interested in what you have to say.
New2fx, yes you are right. Trading daily charts with larger stops require smaller lot sizes. I guess that the only problem is that if each trade takes months to mature, it's not really going to amount to a lot of profit cash-wise in the long term.
Well, here we are at the start of another week, hope that it's a winner for everybody
sorry - may have missed you. Same as you, I usually just leave the computer on, so it shows that I'm reading this thread, but I'm off somewhere else.
2be, very interesting. To be honest with you, I am thinking more along the lines of trading 4 hour and daily charts. Sometimes, I don't want to be tied to the computer waiting for trading opportunities. I say sometimes, because I actually do enjoy doing the analysis and learning as I go.
Please don't forget, and you Kent, anytime you do have a chart or theory with using EW with sniper, I for one would always be interested in what you have to say.
New2fx, yes you are right. Trading daily charts with larger stops require smaller lot sizes. I guess that the only problem is that if each trade takes months to mature, it's not really going to amount to a lot of profit cash-wise in the long term.
Well, here we are at the start of another week, hope that it's a winner for everybody
Well that last short on the cable is still going strong.
You'd think that there'd be people here jumping with happiness.
I guess, like me, there are not many who took it and others that bailed early.
over 300 pips profit at the moment, it's when you get runs like this that sniper does well.
You'd think that there'd be people here jumping with happiness.
I guess, like me, there are not many who took it and others that bailed early.
over 300 pips profit at the moment, it's when you get runs like this that sniper does well.
hi everyone
yeah guys,
this last short is now more than 300 pips, wow, I take out last week at 150 pips the most from my trade and now only 0.01 standardlot, this have ~ +300 now.
thats are the long runner what make this sys to are winner over the month, but if you miss one like this, it will change you to a loser.
so is the ? , my decision last week to take out at a nice support for 150 pips, was ok, but I think after a nice pullback must go in again. then in the end, the long runner make this sys to a winner!
hope this week will have more good trades for us
cheers
yeah guys,
this last short is now more than 300 pips, wow, I take out last week at 150 pips the most from my trade and now only 0.01 standardlot, this have ~ +300 now.
thats are the long runner what make this sys to are winner over the month, but if you miss one like this, it will change you to a loser.
so is the ? , my decision last week to take out at a nice support for 150 pips, was ok, but I think after a nice pullback must go in again. then in the end, the long runner make this sys to a winner!
hope this week will have more good trades for us
cheers
Only problem with a nice pullback is that sniper may well then indicate a long entry.
Looks like we could possibly be at a turning point now, but too early to tell.
FormulaOneFan
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I'm one of those who got out early.
Glad you are on 300 pips profit mate. well done!
No F1F, I didn't take it. The last 2 weeks, I've really not liked the way the market is going, so I've been sitting on the sidelines.
FormulaOneFan
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Sorry mate. I didn't read your post properly. My apologise.
Sorry to bother you !
Dear Mr. F1F,
Dear Sir, I apologise for this unrelated question but ask you as you are based in UK.
Someone I do not know well has recommended www.finotec.co,uk as good broker for Forex. You have long experience. Can you please advise me about their solidity - I am planning an investment of 50k USD. You may reply to my private email address if you do not like to go on open forum with your opinion. It is under < [email protected] >.
Good Luck with GBP - I trade it too. it has gone down a lot but I am not sure if it is turning even now ! I am on sidelines. Would post if I jump either way.
With Regards,
Vilas.
Dear Mr. F1F,
Dear Sir, I apologise for this unrelated question but ask you as you are based in UK.
Someone I do not know well has recommended www.finotec.co,uk as good broker for Forex. You have long experience. Can you please advise me about their solidity - I am planning an investment of 50k USD. You may reply to my private email address if you do not like to go on open forum with your opinion. It is under < [email protected] >.
Good Luck with GBP - I trade it too. it has gone down a lot but I am not sure if it is turning even now ! I am on sidelines. Would post if I jump either way.
With Regards,
Vilas.
