forexkunta
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Here is a little tool that folks may find useful. I know that I do.
Kent
http://www.currencystrengthmeter.com/
Kent
http://www.currencystrengthmeter.com/
Sniper Forex System
- Thread starter stevespray
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Hi to everyone here. Great thread. It took me almost 4 months to read all these comments while following live trades. My question is to Forexhunta and others willing to answer me. I have bactested the system from July 09 until Feb 10 between the hours of 2 AM and 4PM (EST). I have noticed that I would get a signal between 2 and 5 and at 11AM most of the times and sometimes one in the afternoon. However, it is not realistic to me to trade 16 hours every day (although I have tried). Hence my quetion to you guys: How many hours do you spend a day to get your results and what are they? I live in Miami and I currently have all the time in the world (if you see what I mean)
The Stockman
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Re: Sniper Forex System - Profiteer tool
Hello Kent,
Thanks for the link.
Great Confirming toll.
I checked out his videos & website.
Hello Kent,
Thanks for the link.
Great Confirming toll.
I checked out his videos & website.
forexkunta
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Well, I make myself available to trade 24/5 as alerts are triggered. The pair that I trade is most relevant during the Asian and London sessions, with most alerts triggered during the Asian session, so being in Louisiana, it is good for me. I have everything I can set up to send alerts to my Blackberry, and have a program on my BB to allow me to get into my trading computer and see what is going on from anywhere in the world. It is cumbersome, so I prefer other options if I can. I carry a laptop with me in my job, so I have the ability to go by any McDonalds in the country, as my internet service provider has established them as a wifi point for their subscribers, and can access my trading platform from there. During the night, if alerts are generated, I get out of bed, check it out and then go back. Some nights, it is every 30 min to an hour, and those nights make for a pretty long day, but those are pretty infrequent. If you will look at the trends and ranging, thing sometimes go several days between alerts. The Metatrader platform has an option to send alerts via email for a set price, and I use it heavily, especially for my s/l. It is pretty infrequent for a s/l to be hit after an entry alert is generated, so I am pretty confident that I can enter a trade and go back to what I was doing, be it work or sleeping. The alert on the s/l lets me know if things went against me. You just have to have confidence in the system. If I get no alerts during the night, I set my alarm clock to wake me every 3 hours, just to check things out. I just don't have the time or money to allow me to trade full time, so this is how I have worked around things. Hope this helps.
Kent
P.S. Also keep in mind, that when you get an alert from Sniper, and cannot get to it for a couple of hours, price usually hasn't moved so much that you can't enter when you can look at it. Generally on GBP/JPY, which is my primary pair, moves can be huge, so it gives me some time to get into the trade.
Kent
P.S. Also keep in mind, that when you get an alert from Sniper, and cannot get to it for a couple of hours, price usually hasn't moved so much that you can't enter when you can look at it. Generally on GBP/JPY, which is my primary pair, moves can be huge, so it gives me some time to get into the trade.
Thanks very much for your quick and thourough answer. Very helpful indeed. One more thing. Do you trade a fixed set of lots (or mini lots) or do you size your position according to the stop loss (as per risk management). I always risk a fixed 2% of my account per trade and size my position accordingly. I noticed from Gary's results for Feb that was posted by dreadnought101 ( post 2675) that he was constantly using 10 lots and he said that he was also spreadbetting.
forexkunta
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I keep a very close eye on money management. Since Gary has been at this for a while, he is trading according to his method. You do the same and you will be ok.
Kent
Kent
Thanks for your comment and the link to the currency meter. I appreciate.
I'm looking for same, app on my cellphone to enable me to remote back into my desktop at home, was looking at http://www.makeuseof.com/tag/set-up-remote-computer-access-with-your-mobile-phone/.
May I ask what you found to work well? cheers
forexkunta
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Hi,
This system caught my interest some time ago. I have been trading forex on and off for a couple of years. As many others, I have been struggling with different systems, looking for one that suits me, and of course, one that gives positive results.
I think that Sniper Forex may be the kind of system I am looking for. I am going through the trial now, and the setups and the results seems promising.
It would be helpful to hear how many in this thread, that trade this live, and how the results are these days. Have you all been trading this for long? Are you trading the original approach or do you trade with your own tweaked entry and exit strategies.
I have found that the proposed advanced MM strategy in the manual, with 5 lots with different TP's works pretty good, but the standard approach has had some good results as well. I also tried fixed SL and TP, and found that TP 25 with SL 50 gave good results during January, but it's too soon to say anything about it actually. Also, I really don't like the RR on that setup, even though the winning percentage was 91% for January.
I appreciate every input I can get!
Regards
Archie
This system caught my interest some time ago. I have been trading forex on and off for a couple of years. As many others, I have been struggling with different systems, looking for one that suits me, and of course, one that gives positive results.
I think that Sniper Forex may be the kind of system I am looking for. I am going through the trial now, and the setups and the results seems promising.
It would be helpful to hear how many in this thread, that trade this live, and how the results are these days. Have you all been trading this for long? Are you trading the original approach or do you trade with your own tweaked entry and exit strategies.
I have found that the proposed advanced MM strategy in the manual, with 5 lots with different TP's works pretty good, but the standard approach has had some good results as well. I also tried fixed SL and TP, and found that TP 25 with SL 50 gave good results during January, but it's too soon to say anything about it actually. Also, I really don't like the RR on that setup, even though the winning percentage was 91% for January.
I appreciate every input I can get!
Regards
Archie
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Hi, I trade this system, rarely get the same results as Gary but now it doesn't bother me as I am consistent and profitable. I used to ask Gary for results and try and match and work out differences but to be honest it doesn't matter if get to the consistent and profitable stage. There is a journal on the Systems for traders site that goes back 6 months or so and as far as I can see they follow the system by the book.
W
The few people that have tried fixed stops and targets, especially so small have disappeared without trace - that may tell you something.
The whole point of this system is that it runs with a trend until it peters out. So fewer big wins cancel out the more frequent smaller losers.
Most people have problems with the exit, because often a trade goes well into profit, but gives back a fair chunk when the sniper stop is hit. I think that you will find that some posters here have used their own expertise to determine better exits.
It seems that a fixed target of about 160 pips is possibly the optimum, but that is looking at past results and as you know, past performance is not necessarily a guide to future results
lbranjord
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The few people that have tried fixed stops and targets, especially so small have disappeared without trace - that may tell you something.
The whole point of this system is that it runs with a trend until it peters out. So fewer big wins cancel out the more frequent smaller losers.
Most people have problems with the exit, because often a trade goes well into profit, but gives back a fair chunk when the sniper stop is hit. I think that you will find that some posters here have used their own expertise to determine better exits.
It seems that a fixed target of about 160 pips is possibly the optimum, but that is looking at past results and as you know, past performance is not necessarily a guide to future results
I use a form of fixed stops, it is based on the range of a designated number of candles, but I never allow it to exceed 50 pips. Works for me. May want to try a hybrid like that..
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forexkunta
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Archie,
The Sniper trailing s/l is fine just as it is. If you will go back and look at history, you will find that it very seldom gets hit early in the trade. It does from time to time, but for the most part, not often enough to be a problem. One thing I have started doing of late, is to set my s/l according to the last CLOSED bar, instead of the current open bar. Helps when there is a very long candle, to not get stopped out prematurely.
kent
The Sniper trailing s/l is fine just as it is. If you will go back and look at history, you will find that it very seldom gets hit early in the trade. It does from time to time, but for the most part, not often enough to be a problem. One thing I have started doing of late, is to set my s/l according to the last CLOSED bar, instead of the current open bar. Helps when there is a very long candle, to not get stopped out prematurely.
kent
I understand fixed stops to be using the same number of pips as stop for every trade, but you are varying yours from trade to trade.
How long have you been trading with Sniper and how long have you been using your method to set the stops?
sniper stops as main indicators
Hi
What you guys think about using snipers stops as trigger indicators meaning you will enter a trade when the stops change and the Money Management will depend on the distance between the stops and the price. If price is closer to the stops you will risk more on your trade. By Backtesting GBPUS 1hrs and using only snipers stops I found I could make some decents pips. You will be using 1min and 5min charts to refine your entries. If you don't like watching charts all the time, you can trade the 4hrs charts and wait for sniper stop to flip over and then pull the trigger in the direction indicated by sniper stop.
Also, by backtesting, I found out for GBP/US price tend to move alot at 15GMT or 10 AM EST.
Hi
What you guys think about using snipers stops as trigger indicators meaning you will enter a trade when the stops change and the Money Management will depend on the distance between the stops and the price. If price is closer to the stops you will risk more on your trade. By Backtesting GBPUS 1hrs and using only snipers stops I found I could make some decents pips. You will be using 1min and 5min charts to refine your entries. If you don't like watching charts all the time, you can trade the 4hrs charts and wait for sniper stop to flip over and then pull the trigger in the direction indicated by sniper stop.
Also, by backtesting, I found out for GBP/US price tend to move alot at 15GMT or 10 AM EST.
forexkunta
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Wow, let's not let the thread die! How is everyone doing on the trading. Has been a little trying as of the last couple of weeks for me.
Kent
Kent
And what does this have to do with Sniper?
Nothing just another random promotion of your website
forexkunta
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Well, that is a good start for April. Just covered 113 pips on GBP/JPY on a short entry early in the Asian session.
