Sniper Forex System
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forexsniper
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what time frame did you use? what pairs? did you take every trade? (or did you get discouraged and then missed out on the good trades?)
if you stick to the recommendations of gbpusd on 1H, skip the asian sessions and don't do any second guessing by pre-empting the indicators and just follow the indicators, i can't see how you can't make money at the end of each month. but you need to take every trade - otherwise you'll miss out on the trends. if you setup your alerts properly, you won't be tied to the computer.
but if you've found your own method which works better for you...great! everyone's got their own thing which works for them.
forexsniper
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can you elaborate on your system? i wouldn't mind exploring this further.
forexsniper
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i've been following the system for a couple of months on 1h gbpusd. its looking good. if you're happy with the sort of pips gary reports on his site, then it could work for you too.
poisonivy0
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Hi does anyone have a manual for this (Sniper System)
wildpips
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hi amigo1
If you know Gary,frankly he is true to his word. He never oversold this product. There no hype.Its the "what you see is what you get." that is why I like about this system.
However, Of Course, every traders( new and old) have their own level of competence
in using this system, just like Golf playing. Don't you think so?
I would guess, if anyone use any EA* than % maximum drawndown would be a great
criteria to choose from.
Good luck in your trading for whatever trading system you may use!
p/s *there is an EA named as Sniperforex EA, its just almost similar name but
it doesnt follow rules at all. Its not related in function. All tests result in loss.
innovativeweb
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Does anyone know if anyone has created a working EA to follow this strategy? meaning one that does not miss trades and gets in and out of trades when it is supposed to.
wildpips
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Many have tried, and many have failed.
Its like joint venture business projects, where promises and potentials are there,
however, this peculiar failure sucess rate of 100:1 which may drain your funds and in time.
Ok, the big difference in an Manual trading system is that you can POUnCE when the timing shown right. But you can't have that input in an EA, I'm afraid they Pounce on
on the wrong time..like they always do now...hehe guess what i mean.
Well, sigh...NO I havent seen anything EA like you mentioned above. Not yet!
Being a newbie on this forum, it took me forever to read most of the pages in the Concept FX thread and now over 60 pages in this thread I'm a bit bleary eyed. Now I've seen refernce to Elefteros's journal - at least that is only 13 pages.
In a nutshell, I'd be interested to know about people who have been using this system for a few months at least. I know that everybody tweaks the system to suit their style, but I'd be interested in the bottom line. What do people profit in an average month. Are the periods of losses really disheartening?
If this system cost 1000's of pounds, knowing what you know now, would it be worth it?
I will be trying the demo account I think, but almost certainly will need to test and adapt it for more than a week.
In a nutshell, I'd be interested to know about people who have been using this system for a few months at least. I know that everybody tweaks the system to suit their style, but I'd be interested in the bottom line. What do people profit in an average month. Are the periods of losses really disheartening?
If this system cost 1000's of pounds, knowing what you know now, would it be worth it?
I will be trying the demo account I think, but almost certainly will need to test and adapt it for more than a week.
Claudia123
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Being a newbie on this forum, it took me forever to read most of the pages in the Concept FX thread and now over 60 pages in this thread I'm a bit bleary eyed. Now I've seen refernce to Elefteros's journal - at least that is only 13 pages.
In a nutshell, I'd be interested to know about people who have been using this system for a few months at least. I know that everybody tweaks the system to suit their style, but I'd be interested in the bottom line. What do people profit in an average month. Are the periods of losses really disheartening?
If this system cost 1000's of pounds, knowing what you know now, would it be worth it?
I will be trying the demo account I think, but almost certainly will need to test and adapt it for more than a week.
I have had it on demo fora week or so only - but so far impressed. Gary responds to any queries very quickly. it certainly would have paid for itself if I'd gone live. Called a good short this morning (as did my own system which I trade live).
Demo it but stick to what Gary suggests GBP/USD on 60 min. Can't see the point of buying a system then changing it??? Having said that, Elfeteros has done that I know quite successfully as have others. I just been sticking with original system.
I took a demo with alpari.co.uk which gives free MT4 which you need.
greenfield
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Hello GumRai, Claudia123 et al,
I've been using sniperforex since April. I've tried a few variations, but I've decided to stick to the system as Gary recommends – GBP/USD on 60 mins. During this time, it has worked out - for me – 26 pts a day, 21 pts per trade (80 days/99 trades). The figures were showing 30 pts per day until a few weeks ago (Gary's figures show July as one of the worst performing months ever.). So, hopefully this figure will improve. My figures are not quite the same as on the sniperforex website – they average about 33 pts per day this year. Perhaps I'm still getting the hang of it, making a few mistakes possibly.
I've been looking for a system to help 'hold my hand' while learning the basics of technical analysis, trading etc. I've tried quite a few systems – I think most I've come across are scams. But I like this system. Sniperforex, along with thv on forexfactory.com, are the only reliable, genuine systems I've found (so far!). All I can say is that I can honestly recommend sniperforex.
I'll be interested to know of any other pairs, different time frames that people have used with sniperforex that work reliably (i.e. as per the rules). It will be good to add a few more pairs to cable. Anyone tried GBP/JPY?
Bye,
I've been using sniperforex since April. I've tried a few variations, but I've decided to stick to the system as Gary recommends – GBP/USD on 60 mins. During this time, it has worked out - for me – 26 pts a day, 21 pts per trade (80 days/99 trades). The figures were showing 30 pts per day until a few weeks ago (Gary's figures show July as one of the worst performing months ever.). So, hopefully this figure will improve. My figures are not quite the same as on the sniperforex website – they average about 33 pts per day this year. Perhaps I'm still getting the hang of it, making a few mistakes possibly.
I've been looking for a system to help 'hold my hand' while learning the basics of technical analysis, trading etc. I've tried quite a few systems – I think most I've come across are scams. But I like this system. Sniperforex, along with thv on forexfactory.com, are the only reliable, genuine systems I've found (so far!). All I can say is that I can honestly recommend sniperforex.
I'll be interested to know of any other pairs, different time frames that people have used with sniperforex that work reliably (i.e. as per the rules). It will be good to add a few more pairs to cable. Anyone tried GBP/JPY?
Bye,
Claudia123
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greenfield - if you making a consistent 26 pips a day don't change anything. Even at £20 a pip thats 135k a year tax free working from home with negligible overheads.
greenfield
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Hello Claudia123,
Yes, I certainly intend to stay with cable/60 mins. It's going well.
It's just that I've been looking at something to trade alongside this. I've been looking at GBP/JPY at different timeframes. I think there may be something useful here. Obviously, the problem with backtesting systems with indicators is their unreliablity (re-painting etc.). So, I was wondering if anyone had been trading any other pair/timeframe over a decent period of time (using the system's rules).
Bye,
Yes, I certainly intend to stay with cable/60 mins. It's going well.
It's just that I've been looking at something to trade alongside this. I've been looking at GBP/JPY at different timeframes. I think there may be something useful here. Obviously, the problem with backtesting systems with indicators is their unreliablity (re-painting etc.). So, I was wondering if anyone had been trading any other pair/timeframe over a decent period of time (using the system's rules).
Bye,
Claudia123
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Understand - don't believe in back testing though as the markets change so much it's pretty meaningless imo. Have a look at USD/CHF forward test on sniper that may work well as similar to GBP/USD but obviously in the other direction.
Vaco
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It is not an always in system,
In the manual gary suggests different ways to manage the trade depending on your bank roll. If you can trade more then 1 lot/£1 then exiting at different profit targets is the way to go.
if trading only 1 lot/£1 he recommends walking away for the day once you have made 100 pips.
There are two reasons why i deviated from the system in its original form.
1. the stop loss on 1h timeframe is too large for my risk tolerance.
2. once the trade has gone your way waiting for the sniper stops to be hit means you give back a very large portion of you open profit.
Theres also been a lot of talk about the repinting. this only happens before the bar closes so if you are backtesting assume you enter the trade at the close of the signal bar not the open as there is no telling at what point in the bar the signal was given.
It's been mentioned a couple of times to avoid trading during Asian trading time. Does anyone know why this is? Actually I'd like to know what this Asian trading time is. Asia has quite a few time zones. I'm in Thailand, Asia, so The UK stock market opens 8am, it's 2pm here or 3 pm October to March.
