Sniper Forex System

[salvadorveiga]

Hello salvadorveiga,

So, from 121 days/149 trades, my data shows 22 pts per day/17.9 pts per trade.
Biggest single winner – 490 pts; biggest single loser – 112 pts.
Average winner – 96.9 pts; average loser – 56 pts.
Winners/losers – 72/77 or 48.3%/51.7%.
Biggest number of consecutive winners – 6 (= +682 pts); biggest number of consecutive losers – 6 (= -430 pts); though it's rare to have that number of winners/losers together.

I should point out that the figures I have are not as high as those on the Sniper website. I would be very interested to see data from anyone else using Sniper to see if the results I get are the norm.

Bye,

yeah... they're not as high... have you inquired gary? He claimed 60 with a 2.9 profit factor?

the average wiinner seems to correct to what he says but the average loser is a 50% higher... and the % success ratio is also lower.

 

[costitu]

Hello,
I would like to have an answer to this questions by peoples using the system for at least 6 months in real (real money, not demo or backtesting...) :
- how many pips / month profit averaged Sniper for you and how many pips was your biggest Drawdown ?
- how often it repaints ? By repainting I mean signal arrows disappearing after the signal candle close.

Thank you

 

[forexkunta]

Hello,
I would like to have an answer to this questions by peoples using the system for at least 6 months in real (real money, not demo or backtesting...) :
- how many pips / month profit averaged Sniper for you and how many pips was your biggest Drawdown ?
- how often it repaints ? By repainting I mean signal arrows disappearing after the signal candle close.

Thank you

Dear Costitu,
All of these questions have been addressed in previous posts. Please go back and refer to them for your answers. This is a very good system!
Regards,
Kent

 

[salvadorveiga]

Hello,
I would like to have an answer to this questions by peoples using the system for at least 6 months in real (real money, not demo or backtesting...) :
- how many pips / month profit averaged Sniper for you and how many pips was your biggest Drawdown ?
- how often it repaints ? By repainting I mean signal arrows disappearing after the signal candle close.

Thank you

repainting after a candle already closed? None... now of course if the candle hasn't closed and issued a signal, but then the candle reverses very abruplty, the signal may then disappear... but that's just like any indicator...

RSI, Stochastics, MACD etc they all move and change if the current candle hasn't closed...

as far as the other questions I cannot answer you, since I made several changes to it... I actually revolved a bit on the idea of Sniper and made a way better system than Sniper, it doesn't whipsaw as much, less drawdowns and returns as big...and gives a lot less fakeout signals

 

[Amigo1]

I actually revolved a bit on the idea of Sniper and made a way better system than Sniper, it doesn't whipsaw as much, less drawdowns and returns as big...and gives a lot less fakeout signals

Can you please tell us what are the changes?

 

[new2fx]

Gbpcan

Hello everybody!

What do you guys think about GBPCAN. This currency is getting close to its historical low
of 1.6711. Now it is 1.7112. Good buy opportunity here around 1.7000 and stop loss at 1.6711

 

[trendie]

Hello salvadorveiga,

So, from 121 days/149 trades, my data shows 22 pts per day/17.9 pts per trade.
Biggest single winner – 490 pts; biggest single loser – 112 pts.
Average winner – 96.9 pts; average loser – 56 pts.
Winners/losers – 72/77 or 48.3%/51.7%.
Biggest number of consecutive winners – 6 (= +682 pts); biggest number of consecutive losers – 6 (= -430 pts); though it's rare to have that number of winners/losers together.

I should point out that the figures I have are not as high as those on the Sniper website. I would be very interested to see data from anyone else using Sniper to see if the results I get are the norm.

Bye,

Lots of good work here.
But, is 20 odd pips per day a viable expectation?
For Sept, if the numbers are correct, you bagged how many pips? How many is that per day?

Have you looked at the drawdown relative to the gains?
For September, you spent most of the month underwater, until the 3 biggies came along.
Far be it for me to advise, since I dont really use Sniper except as a bit of fun, but if you were ill, or had a PC crash on the days in question, you would have had a red month.
3 trades, +227, +137 and +346, account for how much of the total pips gained?

Having conducted the analysis, where does the problem lie?
Are the initial risks too great? If so, what would happen if you only took trades that had a risk of less than xx pips?
Or, take multiple entries, in case a better entry occurs later. In the same way you would scale out, how about scaling in when risk exceeds xx pips?

Are you giving away too much profit at the end stage of a trade? You have already tried TPs. What about some other method of scaling out? Knowing the daily range, does it help if you took ADR if if gets there? (one of your guys has already suggested such)

Are you willing to let just the rare big runner be the basis of your trades? Or does it make some sense to bag low-risk pips, and nibble at the market, with smaller, but consistent gains?

As I say, lots of great work; and the answer is in there somewhere.
I am sure you can bump up your returns to at least 50 or 60 pips a day. (as a starter)

 

[salvadorveiga]

Can you please tell us what are the changes?

sorry... I won't disclose it, i started developing the system +12 months ago, sniper gave me an idea to add a componnet nothing else. So I won't disclose what the system is... only for selling at the very low price of:

9999.99 USD
CALL NOW 1-800-RIPMEOFF

:cheesy:

nah seriously, it took me a hell of a time to get to it so disclosing it, would be inefficient and irrational of my part

 

[greenfield]

..............But, is 20 odd pips per day a viable expectation?
....................As I say, lots of great work; and the answer is in there somewhere.
I am sure you can bump up your returns to at least 50 or 60 pips a day. (as a starter)

Hello Trendie,
Some interesting questions and useful suggestions. Actually, 20+ pts a day are not expectations, but the actual average gains I've been making (from mid April to now). Of course it would be great to make gains of 30, 40, 50 pts a day. But this is how Sniper works. I should add here that these figures are below the results on the Sniper website. I don't think this is due to any failings of mine – another contributor to this thread, GumRai, posted his results for September: 310 pts instead of the 485 on the website. So that's one issue that can be addressed.

Perhaps you think that I haven't set my horizons very high. But 22 pts a day it is. I suppose it depends on a/c size and MM considerations, but that builds up an a/c quite nicely.

You're quite right about problems with missing trades. The 3 biggest trades I took during September were 133, 223 and 346. If I had missed them I would really have been gutted. I think that to make Sniper work, every trade has to be taken. That's what I do.

You've referred to giving away profits at the end of a trade and the different methods that have been discussed and tried by people using this thread. As I've mentioned, I divide each trade into 2 - 1 that runs its course as per Sniper rules, and the other 1 is a case of 'work under progress.' It remains to be seen how this ends up. All suggestions gratefully received!

Just a little background (I've mentioned some of this before). I've only been trading forex and commodities since December 2008. For the last 15 or so years I've been heavily into equities. Not trading as such – investing medium to long term. So I've followed fundamental analysis more than technical analysis. So now with forex/commodities I've been looking for a system to 'hold my hand' while I try to get to grips with the basics of technical analysis. So a big learning curve! I've tried some really bad systems during this period. All I can say is that Sniper is head and shoulders above anything else I've come across.

I think it's a case of – keep the ideas coming. This has become a very positive thread and if we can all end up with better results, that can do nothing but good.

Bye,

P.S.
I still see this as an experiment – early days – but trading Sniper GBPJPY 30M, since 21 August, is working out at an average of 30 pts a day.

 

[salvadorveiga]

trendie, don't forget that it's an average a day... so since April he was able to grab 2600 pips. if you saying to up the level to 50 or 60 that would mean making 21,600 pips per year... if you can make that much i will sure deliver my money over to you

 

[forexkunta]

Lots of good work here.
But, is 20 odd pips per day a viable expectation?
For Sept, if the numbers are correct, you bagged how many pips? How many is that per day?

Have you looked at the drawdown relative to the gains?
For September, you spent most of the month underwater, until the 3 biggies came along.
Far be it for me to advise, since I dont really use Sniper except as a bit of fun, but if you were ill, or had a PC crash on the days in question, you would have had a red month.
3 trades, +227, +137 and +346, account for how much of the total pips gained?

Having conducted the analysis, where does the problem lie?
Are the initial risks too great? If so, what would happen if you only took trades that had a risk of less than xx pips?
Or, take multiple entries, in case a better entry occurs later. In the same way you would scale out, how about scaling in when risk exceeds xx pips?

Are you giving away too much profit at the end stage of a trade? You have already tried TPs. What about some other method of scaling out? Knowing the daily range, does it help if you took ADR if if gets there? (one of your guys has already suggested such)

Are you willing to let just the rare big runner be the basis of your trades? Or does it make some sense to bag low-risk pips, and nibble at the market, with smaller, but consistent gains?

As I say, lots of great work; and the answer is in there somewhere.
I am sure you can bump up your returns to at least 50 or 60 pips a day. (as a starter)

Trendie,
I believe that to take maximum profit, a person has to learn a little of the Elliott Wave Principle, and learn how to project fib profit targets with the Fib indicator in mt4. I have stumbled upon the fact that with Cable, if you project the Fib targets after wave 2 is complete, then Cable almost always hits the 161.8% target projection. Heck of a way to maximize profits. I have decided to do this going into the future. A Sniper entry is very good, just have to devise a way to keep more profits. i really think that this will work just fine. Am betting my account on it.

For Guppy, it almost always hits the 261.8 Fib target line. It always out runs cable so that target is to be expected. If Guppy hits that level, the profit will be taken. I have seen 5-7 trades in the last 3 weeks go as high as 200 pips only to come down to less than 100 before Sniper alerts the other way, and prompting an exit. I just am not happy with that scenario. Looked at these levels on these pair almost all weekend and if it went into a trend, then these levels WERE hit.
Just my thoughts,
Kent

P.S. I will keep everyone posted on the results of these profit target levels.

 

[forexkunta]

An another thing that also would help. Getting to know the ins and outs of the RSI and MFI indicators and when divergence is setting in. Divergence always sets in close to the end of the 5th wave, or the end of the trend.
Regards,
Kent

 

[GumRai]

MFI ?
Money Flow Index or
Market Facilitation Index?

Referring to one of your earlier posts, 3 out of the last 4 Sniper Cable trades have gone more than 100 pips into profit, only to give most of it back. Those 3 trades, taking profit at 100 would have resulted in a total of 300 pips profit, but they finished with only 77 pips between them!

Greenfield,
The results on the Sniper website are just totals for the month as far as I know. Without a trade by trade result sheet, it is impossible to compare to see why the pips profit is consistently higher than yours.
My figures show 310 pips profit for September, yet 485 pips profit posted on the website?
If you include the trade opened on the 30th and closed 1st October, my figures show a profit of 267 pips and if using money management, a profit of 1.15% of the bank.
Just getting into a trade a little late or using a stoploss 5 pips above/below the sniper stop instead of 10 can make such a difference to the results.
I believe that the market movements have not been ideal for this system, yet it managed to make a profit. We will see how this month works out.

 

[forexkunta]

MFI ?
Money Flow Index or
Market Facilitation Index?

Referring to one of your earlier posts, 3 out of the last 4 Sniper Cable trades have gone more than 100 pips into profit, only to give most of it back. Those 3 trades, taking profit at 100 would have resulted in a total of 300 pips profit, but they finished with only 77 pips between them!

Greenfield,
The results on the Sniper website are just totals for the month as far as I know. Without a trade by trade result sheet, it is impossible to compare to see why the pips profit is consistently higher than yours.
My figures show 310 pips profit for September, yet 485 pips profit posted on the website?
If you include the trade opened on the 30th and closed 1st October, my figures show a profit of 267 pips and if using money management, a profit of 1.15% of the bank.
Just getting into a trade a little late or using a stoploss 5 pips above/below the sniper stop instead of 10 can make such a difference to the results.
I believe that the market movements have not been ideal for this system, yet it managed to make a profit. We will see how this month works out.

GR,
That is the Money Flow Index.
Kent

 

[GumRai]

Oh dear, not a good start to the month so far!
4 trades and 3 losers with Cable, but nothing spectacular.
Hope that the big move comes soon

 

[fx_eagle]

Hi everyone

yes, this month start not good, but we will count at the end of the month

also I have prob with the VPS the last days, I pay for a new month but this billing system is so bad and make open a new account, and the support also on the weekend not available and at monday they give me only a ticket, lol

so I miss the first trades only take the last looser and may stay in one bad trade now.

the cable has no direction only in a range so the sniper has to take every option for not miss the big move, but this whipsaw will drain our account.

but that the business and if someone found a solution please tell us, but I know noone has that , many tell the found but I not believe , people the found some way not here in the forum around , the have no time for that, the make $$$ and use the time for to life not for write postings, haha

so we have to go the way to come to that target, may we together can come near the solution.

for me I like to make it easy , only KISS follow all trades and hope the cable not will change the behavior to move every month 2-3 time big , so I make my $$

btw
GumRai,
I check the sheet and thats near also my trades, I ask Gary for a trade record but no answer already 6 days , and same I say before I trade all with same lotsize ( 3 % risk for 100 pips sl ) so I have a good result , if you change the lotsize you will increase your profit at ~ 300%

so hope we have a good month, after the loser it can only better :cheesy:

cheers fiends

 

[forexkunta]

You can certainly tell how dead the markets are by the post activity.

 

[GumRai]

You can certainly tell how dead the markets are by the post activity.

Pretty boring markets Kent.
But Support level just being broken on Cable, already broken on EurUsd, so maybe some down movement. Maybe this trade will be the big winner

 

[GumRai]

I've done very little non demo trading the last 5 weeks or so, but it's been a very difficult market. My non sniper trades (few that there have been),based on breakouts or bounces off support resistance have nearly all turned around, hit my stoploss and then gone in the anticipated direction.
What can you do?
Difficult market conditions

 

[salvadorveiga]

hey guys I have a suggestion.... GBPUSD is very volatile as you know with lot of spikes.

This makes the task difficult for Sniper because sudden moves won't be grabbed by Sniper.

The best environments for trend following are trending and CALM markets. Instead of using it on Cable with it's very volatile ups and downs, whipsawing you like pork chop, why not use some other pairs?

I've been having much success under EURGBP and AUDUSD.

The moves aren't as long, but the stops are also a lot smaller, so you canactually make more or it may be pretty much equal. a 200 pip move with a risk stop of 30 pips for example would be the same as a 400 pip move but with a stop of 60 pips. you'd gain the same...

this is what is happening in these pairs.

While the ATR of GBPUSD is almost 200 pips, these pairs are in the 80 pip range.

EURGBP for me, I was reviewing my trade logs and I haven't had a loser since July 26th !!!

Just food for thought.... you may want to consider less volatile pairs, as more calm pairs