Sniper Forex System

wil68 said:
I posted several weeks ago on the Concept thread, commenting that I very rarely contribute to the threads, but avidly read the advice and actual trading experiences etc. from most of the posters. Some of the crap posted on the Concept thread made me stop reading - the same may happen soon with this one. Scanjet, may I suggest that if you have nothing positive to contribute, you find something constructive to do with your time. You obviously know everything, so why come on to these threads to pick holes in everything. We can make decisions based on what is posted by people actually doing something - not by ridiculing every system and new trader that comes looking for help. You seem to have a problem with one area - the guy himself makes money from selling the system etc.; I can't imagine you would spend your time doing something for nothing, am I right?(don't answer)
Click to expand...

Well, I think I will answer. Buy your systems and enjoy if that's what rocks your boat. I'm only trying to help you. I suppose if you spend 8 or 10k bucks you want to believe. I hope you succeed.
 
hi guys,

been following this thread with interest and have had a good look through the website. Many have asked if there is an automated version of forex sniper. According the website the answer is yes just look at the faq which mentions the ea, you can click on the ea link to read more about it.

On c2 there is a forex sniper system that you can subscribe to, does anyone know if the 2 systems are the same as the results on c2 are not great.
 
I hope so too. Nobody has all the answers, not even you, so is it not worth looking at new things? It amazes me how many people can comment on things without actually knowing anything factual about them. Helping people does not mean answering in smart arsed ways, try and contribute without the "tone" and maybe more would actually listen. By the way, where did 8-10K come from? The system can be trialed for free, and then sells for a one off £100 - hardly going to break the bank.
 
Any system that is for sale but allows a trial period is worth looking at. Sure there are those out there that can succeed at trading by creating their own system that gives similer results or even better, but the hand holding approach that this type of system provides can be very beneficial and a positive p/l will give confidence to try out your own idea knowing that you can always fall back on what you started with.

Systems which are scams dont offer trial periods so i believe that this is genuine.

However everyones results will vary as not as there is no profit target within the system and every one wll take profits at different points. I like the idea of breaking the trade down into 5 lots or mini lots and exiting at different stages of profitability. this reduces the loss if taken out on the rest and allows you to let the trade run knowing you have locked in some profits. Very important in choppy conditions.
 
trendie said:
as per an earlier post I made about this, they are called Hull Moving Averages.
Great when they are in synch with the market, but obviouly pants when they get out of synch.

screenshot of Hulls set to 40. (had a look at teh Sniper website, and tried to replicate, and think 40 is pretty close, but without more recent screenshots difficult to tell)
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so what are you thinking trendie?

change of colour on hull or price breaking the hma?

also can someone who is using this answer......is this an always in the market system, ie when you close a short you open a long straight away?

thanks
 
Last edited:
Hello Cryten

Do you know on which platform I can use Slop system? Is it posible to use it on MetaTrade4 - Altari platform?

Regards,
Arek
cryten said:
I didn't trade sniper long enough to be able to make that decision and never gave the slope system a go, just thought they were similar when the thread popped up at forex factory. Essentially it's a trend following system so imo make sure your wins are alot bigger then your losses to account for the big chop when it occurs. Although perhaps you could figure out a way to scalp it, use a few time frames and scalp the trend.
Click to expand...
 
autotrader

Hello SandyW


Are you still using auto-trader? If yes, could you drop me a link -where the software is, please?

Thank you
Arek
 
brutusdog said:
so what are you thinking trendie?

change of colour on hull or price breaking the hma?

also can someone who is using this answer......is this an always in the market system, ie when you close a short you open a long straight away?

thanks
Click to expand...

am thinking it is based on colour change of HMA. which, in itself is not bad.
wasp, sorry, sweepylongbananafiend, used HMAs as proxy SupRes before he learned to do without them. FXigor, also showed a method using HMAs. I also used HMAs until very recently. So I am biased in favour of them. But, you still need to apply some intuition/experience, such as patterns, congestion, pin-bars, to sometimes anticipate the change of line-colour, and to get in/out earlier.
good luck to these guys using it, but I would be inclined to get them to understand where price is relative to the lines, and use some extra insights to fine-tune entries/exits.
as with all MAs, they will go out of synch at some point, before returning into synch with the markets.

my note of caution is to see that the past few weeks have been very trendy, and thus sympathetic to trend-following methods. Look back just six months, and the market wasnt as trendy, and also the daily ranges were smaller. by all means reap the rewards, but use this opportunity to use the money made and time to acquire broader skills to cope when the market dynamic changes.
also, if you accept this is an HMA technique, download and use the Hulls and experiment with your own settings. learn to fish for yourself.

good thread. good stuff. good luck.
 
brutusdog said:
so what are you thinking trendie?

change of colour on hull or price breaking the hma?

also can someone who is using this answer......is this an always in the market system, ie when you close a short you open a long straight away?

thanks
Click to expand...


No it is not an always in the market system. i started using the demo today and will keep you all posted with results.

I will be using the it on gbp/usd hourly bars only. This is the timeframe and paire it is optimised for.

Everyones results will vary but first trade today was a short at 1.8261 with a sl at 1.8384.

I was tempted to reverse and go long when the bin bar that formed signled an entry but as it is a demo account i have allowed the trade to run in order to test the system properly. it is suggested that you break each trade down into 5 segments taking profts at +25,+50,+75 and +100 with the last lot left to ride out the trend.

none of those targets have been hit on this trade yet and the idea of taking profits on the majority of my position at levels lower then my stoploss for my whole position worries me as it means that it will take more winning trades to make up for a loss unless ofcourse you scale out of trades going against you in the same way.

Its nearly 10pm gmt and the trade is still running ould have to let it run overnight or cut losses now. Could someone tell me if there would be a change in margin requirements on a forex position held overnight?
 
I too started paper trading this today. Several alerts came through, but only some filled ALL the criteria for entering a trade. As a FOREX novice who is reading a lot of stuff that makes little sense right now (I normally trade options and futures), the speed of change is very quick and a bit daunting. I get to spend a fair bit of time at my PC, so keep an eye on the trades throughout the day. I currently trade EOD, so this will take some getting used to. When trading for real, will I be able to let a trade run overnight as Crazy Fool? I don't know! If this system proves to be fairly accurate, I may trust it to keep me in trades for as long as it takes to make a decent gain, for the moment, I am waiting and hoping. One question for the experienced FOREX traders, the SL quoted by Crazy Fool as per sniper, would allow for a 123 pip loss. This seems fairly high to me - any thoughts.
 
Hi wil68,

I allowed it to run overnight because the trend is clearly down on the higher timeframes and snipers last signal on higher timeframes was to go short as well.

The sl is far away because the system is trying to catch a trend whilst getting you in late (due to lagging indicators) you dony have to set your sl that far away but i am trying to test the system as it was intended to be used.

As trendie has stated markets are trending well at the moment, this system will get you slaughtered in more choppy times imo you will be buying many tops and selling many bottoms if you follow every signal.

I would suggest perhaps using a 3 ducks approach and onlt taking the trade on the hourly if the daily and monthly are all pointing in the same direction.
 
ok trade no 1 was stopped out on the sniper stop at 1.8317 for a loss of 56 pips.

I am now awaiting the two bottom bars to turn blue in order to go long.
 
I missed the short entry but went in long at 7.47 on 1.8318 this am when there were 2 blu bars. Pushed my SL so that I didn't get stopped out and am also waiting for the second blue bar so that I get to make some profit.
Elefteros said:
ok trade no 1 was stopped out on the sniper stop at 1.8317 for a loss of 56 pips.

I am now awaiting the two bottom bars to turn blue in order to go long.
Click to expand...
 
I bought into Sniper and am using it live on GBPUSD 1 hour chart. Not much success so far. There is no escaping the reality that this is a trend following system, and like all such, it cannot cope with a choppy or ranging market. Trades need to be filtered. I am going to adopt a policy of only taking trades which are in the direction of the daily trend as indicated by Sniper. "Two ducks" if you like. I had hoped Sniper would stand alone, but am coming to the conclusion that signals have to be viewed in the light of other technical criteria, especially S/R. Also I am not convinced that the stop loss policy really hangs together.
 
I was paper trading sniper fr 2 days. Yesterday I made a killing for almost all currencies, but today, it looks like the system alone is not going to help make decisions, i added pivot today, and looking at possibility of trends " 2 or 3 ducks", to see how it works. Also as a system, it should work for all currencies ?? not just one pair ( am i right ?)
Are you all using the same 1 hr chart, or looking at 15 min, 30 min etc .???
I have not concluded anything , still very open, any suggestions most welcome..
 
samu, u r right it should work on all pairs and looking at today and yesterday i would have made many pips if i had been trading more then one pair. however it is supposed to be optimised for gbp/usd on the hourly timeframe so for the purposes of the one week trial i am only posting results doing what it says on the tin so that it helps others decide if they want to purchase this system or not.

"2nd trade on gbp/usd was short at 1.8237

Now the trade went the right way and 'if' you got out at the bottom you would have a gain of 64 pips and if i had been screen watching i may have bailed out as it pulled back to 50 pips. however doing this on a reguler basis would not give us a very good r:r and eventually we would probably go bust. I think you have to have the nerve to stick with the trend and get the homeruns.

I am going to make my exit the moment any of the 3 lines on the chart turn blue or when i get stopped out.
 
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