Sniper Forex System

Has anyone traded the Sniper system for GBP/USD or GBP/JPY one hourly charts and achieved results similar to the claim of the developer?
Am also looking for a way to back test Sniper on the MetaTrader4 platform. Is this possible
 
Notsure about backtesting sniper on MT4, but I am trading it live on the GPB/USD using Alpari and am getting results similar to what is claimed. I think its a very good system.About 67% correct
 
Thanks for Sniper comments. I imagine Phuket is not in an ideal time zone for the GBP/USD trading as recommended by Sniper. Does that concern you or do you trade through your night time hours?
I trade the GBP/JPY as the time zone better suits Australian Eastern Standard time for depth of market.
 
Sniper forex system

stephen2003 said:
please can somebody advise me how to use the forex sniper trading system on my ig index platform?.
Click to expand...
Do you mean the Sniper Forex system developed by G. Pavkovich, if so it is developed specificaly for use on the MetaTrader4 platform. If IG do not offer the MT4 trading platform there are several other brokers/spread betting firms who do.
It's a good system run on either one or four hourly charts but from my experience needs constant trading daily from 0600 to 2200 hours GMT where there is the greatest FX volume. Are you using it already?.
 
Sniper Forex system.

Cooldent said:
This Sniper Seems good, but unfortunately NOT GOOD ENOUGH when used at SMALLER TF.
Click to expand...

An interesting comment. I have researched systematic trading for futures and FX over a long period but have yet to find any that even approach Sniper Forex for profit yield with modest draw down. It is the smaller and acceptable draw down that makes Sniper so different from the rest. I agree it suits only the serious traders willing to put in the long hours.
Have you found any other FX system that works better on a smaller time frame? If so please share your experience.
 
TangoCharlie said:
An interesting comment. I have researched systematic trading for futures and FX over a long period but have yet to find any that even approach Sniper Forex for profit yield with modest draw down. It is the smaller and acceptable draw down that makes Sniper so different from the rest. I agree it suits only the serious traders willing to put in the long hours.
Have you found any other FX system that works better on a smaller time frame? If so please share your experience.
Click to expand...

Are you using the stops provided by Sniper Forex or others?
 
TangoCharlie said:
Thanks for Sniper comments. I imagine Phuket is not in an ideal time zone for the GBP/USD trading as recommended by Sniper. Does that concern you or do you trade through your night time hours?
I trade the GBP/JPY as the time zone better suits Australian Eastern Standard time for depth of market.
Click to expand...

Sorry for the late reply.

I trade at night. Lately, Sniper has not been performing that well. Drawdown is quiet big. At first I was impressed, but that is changing.
 
Sniper Forex

rolfwidmer said:
Are you using the stops provided by Sniper Forex or others?
Click to expand...

I use Sniper Forex stops when they display. If there is no Sniper stop as happens with a new position, I then use the most recent high or low plus/minus three pips. Best results are with GBP/USD pair. What do you use?
 
TangoCharlie said:
I use Sniper Forex stops when they display. If there is no Sniper stop as happens with a new position, I then use the most recent high or low plus/minus three pips. Best results are with GBP/USD pair. What do you use?
Click to expand...

I also use the original stops or last high/low minus/plus ATR/2. I also considered using S/R lines but this is harder to define.
 
TangoCharlie said:
An interesting comment. I have researched systematic trading for futures and FX over a long period but have yet to find any that even approach Sniper Forex for profit yield with modest draw down. It is the smaller and acceptable draw down that makes Sniper so different from the rest. I agree it suits only the serious traders willing to put in the long hours.
Have you found any other FX system that works better on a smaller time frame? If so please share your experience.
Click to expand...

TrendStuffer works fine for some pairs on M15 timeframe, but not for all. For daily charts I test now a system with 3 Moving Averages, I enter if Close < MA10 < MA20 < MA50 and exit if close crosses above MA20 . Vice versa for short. Stoachtics to confirm overbought/sold is also helpful.
 
Sniper Forex

patong said:
Sorry for the late reply.

I trade at night. Lately, Sniper has not been performing that well. Drawdown is quiet big. At first I was impressed, but that is changing.
Click to expand...

Have you looked at the GBP/USD with four hourly chart. While the stops are wider, there are fewer trades with reduced chopping. Unlike the one hour chart the four hourly did not experience an increased draw down recently. Let's know how you get on.
 
TangoCharlie said:
Have you looked at the GBP/USD with four hourly chart. While the stops are wider, there are fewer trades with reduced chopping. Unlike the one hour chart the four hourly did not experience an increased draw down recently. Let's know how you get on.
Click to expand...


i look for a short/long signal on the 1 hr , then 4hr then daily, if all are in agreement its a goer. Also looking at support/resistance levels and trendline breaks and if its near a pivot or not. Maybe I should start trading from the 4hr. I am also thinking because of my timezone here in Thailand I am missing the good signals perhaps.

My stops are the same as yours.

Cheers for the advice.
 
Anyone making any money with Sniper at present?

Been looking at the 4hr, guess its a waiting game.

Had two good trades this week short on the eur/gpb plus 173 pips and eur/chf 137 pips both short, working down from a daily, 4hr, 1hr all time frames confirmed a short.
 
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Just have entered 6 trades with sniper over the past week. The drawdown again has out weighted the winners by 267% , stops are getting hit. I don't know about this system anymore.

Is anyone seriously making money using it. If so can you please explain how?
 
patong said:
Just have entered 6 trades with sniper over the past week. The drawdown again has out weighted the winners by 267% , stops are getting hit. I don't know about this system anymore.

Is anyone seriously making money using it. If so can you please explain how?
Click to expand...


Then y not just do the opposite, sell on green arrow and buy on red?
 
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