That's just marketing. I have an email that tells me that only 6 are now available at $197. As pointed out to me before, go to the purchase page
Sniper Forex - Purchase Page
and then close the window, up pops the "special" offer
Sniper Forex System
- Thread starter stevespray
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That's just marketing. I have an email that tells me that only 6 are now available at $197. As pointed out to me before, go to the purchase page
Sniper Forex - Purchase Page
and then close the window, up pops the "special" offer
Apart from Kent, I suppose that everyone who took the long on GBPUSD lost out as the stop was hit.
I certainly does seem strange that the initial reaction to the news was positive for the Pound and it continued to climb, maybe just enough for those waiting till after the news to jump on the long only to get stopped almost immediately.
Of course, after dropping about 100 pips, it shrugged off the news and carried on up. Meanwhile this movement probably caused most people who opened a position around this time to get stopped out - both long and short!
Well done Kent for getting back in and getting some benefit.
I certainly does seem strange that the initial reaction to the news was positive for the Pound and it continued to climb, maybe just enough for those waiting till after the news to jump on the long only to get stopped almost immediately.
Of course, after dropping about 100 pips, it shrugged off the news and carried on up. Meanwhile this movement probably caused most people who opened a position around this time to get stopped out - both long and short!
Well done Kent for getting back in and getting some benefit.
forexkunta
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Thanks, GumRai.
I don't know if you saw my earlier post about the news announcements, on the previous page, but once a trend is in place, a news announcement only becomes a bump in the road of travel. I will post a chart to illustrate what I mean.
Kent
forexkunta
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If you will notice, the trend was already established hours before the NFP news release. After the release and it went short, it stepped back up pretty quickly and resumed it prior path right on up the trend line. It passed thru the trend line at the top due to end of day lack of liquidity as is normal. I have been noticing this for over a month. The only way a trend change occurs, is when a correction is needed according to Elliott wave rules. I have found this pretty interesting. If you want to verify this, go back on the charts to previous announcements, and draw a trend line. I think you will be surprised.
Kent
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Well done Kent...it really looks like the EW + Sniper combination is working really well for you, I gotta learn more about EW myself
Are you on demo or live?
forexkunta
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Unfortunately that was on a demo account. But it still proves the technique. I almost blew my live account out before Sniper and EW and have recently refunded, and will be back trading live next week.
Yep, stopped out on both short and long triggers. Friday was not good
forexkunta
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Damn, I hate that for you. I personally increased my s/l to 150 pips, and luckly it was enough to allow that release to settle before hitting a s/l. Just luck i guess.
Kent
Not trying to be a party pooper here (honest),
but I've just concluded a Sniper trial - what I read on here (what an active thread!) made me look at it, and whilst the mechanics are hidden it's plain Sniper is a trend following system (no sh** Sherlock, eh?), and the rules say you enter when the three lines are red/blue and the two trend indicators are the same colour.
My personal experience over the past fortnight is that the signals are 'confirmed' when much of the move has gone, the stops are often huge distances away, leading to very poor risk:reward ratios, and in general the system does indeed identify trends, but usually somewhat slower than an average intelligence guide dog. When a signal has gone into profit the system is so slow to recognise a change in the trend that it's quite often gone from a nice gain back into a loss or hit the stoploss. Yes it'll do well on a long, fairly stable trend - but agile it isn't, and for my own peace of mind I'd be happier with something that showed a small profit most of the time rather than something that saw me win big 20% of the time but hit a wide stop the other 80%.
Those doing best with the system seem to be filtering the system signals - notably trying to use Elliot Wave, for example, which is a bit of an art to put it mildly. Is anyone on this hugely popular thread actually using Sniper on a live account and making good profits from it, without actually applying other TA to make it profitable?
I realise this is going to upset some people - I really don't want to do that, but Sniper (from my experience) is no better than lots of other systems that attempt to identify and trade trends, and is in fact slower than some to get on board, and more importantly it's arthritic when it comes toexiting a trade...put simply it is far too slow to recognise the trade should be exited. Some have3 discussed alternatives - TP75 etc - might it not be time to start thrashing out a better exit for this system, or (dare I suggest it) a better entry than the system default?
Sorry if I upset anyone there.
Dave
but I've just concluded a Sniper trial - what I read on here (what an active thread!) made me look at it, and whilst the mechanics are hidden it's plain Sniper is a trend following system (no sh** Sherlock, eh?), and the rules say you enter when the three lines are red/blue and the two trend indicators are the same colour.
My personal experience over the past fortnight is that the signals are 'confirmed' when much of the move has gone, the stops are often huge distances away, leading to very poor risk:reward ratios, and in general the system does indeed identify trends, but usually somewhat slower than an average intelligence guide dog. When a signal has gone into profit the system is so slow to recognise a change in the trend that it's quite often gone from a nice gain back into a loss or hit the stoploss. Yes it'll do well on a long, fairly stable trend - but agile it isn't, and for my own peace of mind I'd be happier with something that showed a small profit most of the time rather than something that saw me win big 20% of the time but hit a wide stop the other 80%.
Those doing best with the system seem to be filtering the system signals - notably trying to use Elliot Wave, for example, which is a bit of an art to put it mildly. Is anyone on this hugely popular thread actually using Sniper on a live account and making good profits from it, without actually applying other TA to make it profitable?
I realise this is going to upset some people - I really don't want to do that, but Sniper (from my experience) is no better than lots of other systems that attempt to identify and trade trends, and is in fact slower than some to get on board, and more importantly it's arthritic when it comes toexiting a trade...put simply it is far too slow to recognise the trade should be exited. Some have3 discussed alternatives - TP75 etc - might it not be time to start thrashing out a better exit for this system, or (dare I suggest it) a better entry than the system default?
Sorry if I upset anyone there.
Dave
FormulaOneFan
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Hello Kent,
If you don't mind me asking. Do you use any EW indicators? Does it give you wave identifiers and signals when you enter and exit? Just before trading trying to manually analyse the wave and which one we are on and which way it is going to go could be difficult isn't? So if there is a system in place then it could be easy?
FormulaOneFan
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Hello Dave,
I don't think you will upset anyone by your comments because everyone here are open to suggestions and if there are better systems then everyone are interested to give it a go. But for me personally sniper rocks. Sniper alert maybe late but I use 1H and 1M chart combination to enter and it does make up most of the pips it loses by early alert and consistently gives correct signals.
As per your comment you mentioned there are other systems that give out signal much quicker. Could you share it with us what systems they are please? So we can give it a go and see if it more profitable then sniper.
Please let us know.
forexkunta
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Dave,
I think that we have a good enough membership here that your thoughts of making someone mad is not really an issue. This thread is a discussion of Sniper and all ideas to make things better, someplace to learn, someplace to share your successes and disappoints.
I do agree about the loss of profits due to the liberal stop loss settings, but I have seen profits of 200-300 pips on a run, I have seen s/l hit and I have seen very good profits erode to almost nothing following the sniper dots. I have learned quite a bit about Elliott Wave theory, and what it teaches is the ability to look at the probability of when a particular move is coming to a completion. So in that aspect, it gives me the ability to get out with more profits than if I waited for a s/l to do it.
With that said, I and alot of other people here, believe that this is a good system and believe in using it as the author intended. And if that is done then profits will be earned. You do have some valid points, and the right to state your opinion here. We all welcome differing thoughts and believe it will help us all become better traders.
Bear in mind that how a person exits a trade is entirely up to that person. If I see a trade in the 100-200 pip range, you better believe I will take those profits, because I know that it is possible for it to erode. 100 pips 2-4 times a week is damn good profit. Period. This thread is dedicated to trading well. Feel free to visit anytime and contribute or refute as often as you like.
Kent
forexkunta
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Dave,
Something else I forgot to mention.
The manual also states that a person may change the Sniper period for a lower setting to generate more signals. The recommended is 30, but if you changed it to say 20 you would get earlier signals on the trend. I guess you should play with that until you find something that works for you. I really think this is a great system for a newbie to use and in the process, learn learn learn. Seeing that you are a legendary member of this forum, you no doubt have much experience trading, or may not. There are several here that are starting out new and you probably know how friggin hard it is to find reliable information about trading forex. It is not something you can just goggle and bam, it is reliable. Several of us here have found Sniper to be a very reliable system. I am sure there are better ones out there, but it is damn hard to go thru them all to find the ones that work, even a little bit. You and I both know that this business is about profits, from the designers of systems to the traders out here trying to make some also. I personally think that someone that is well versed in the EW theory needs no system. That is good enough all on its on. But until one is confident with EW, then Sniper really helps.
It is also good that a person that has sometimes 50 or more pips go ahead a t/p and not be really greedy and end up loosing most of the pips, but that is up to each individual trader.
Regards
Kent
Something else I forgot to mention.
The manual also states that a person may change the Sniper period for a lower setting to generate more signals. The recommended is 30, but if you changed it to say 20 you would get earlier signals on the trend. I guess you should play with that until you find something that works for you. I really think this is a great system for a newbie to use and in the process, learn learn learn. Seeing that you are a legendary member of this forum, you no doubt have much experience trading, or may not. There are several here that are starting out new and you probably know how friggin hard it is to find reliable information about trading forex. It is not something you can just goggle and bam, it is reliable. Several of us here have found Sniper to be a very reliable system. I am sure there are better ones out there, but it is damn hard to go thru them all to find the ones that work, even a little bit. You and I both know that this business is about profits, from the designers of systems to the traders out here trying to make some also. I personally think that someone that is well versed in the EW theory needs no system. That is good enough all on its on. But until one is confident with EW, then Sniper really helps.
It is also good that a person that has sometimes 50 or more pips go ahead a t/p and not be really greedy and end up loosing most of the pips, but that is up to each individual trader.
Regards
Kent
2be
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[saw me win big 20% of the time but hit a wide stop the other 80%.
I realise this is going to upset some people - I really don't want to do that, but Sniper (from my experience) is no better than lots of other systems that attempt to identify and trade trends, and is in fact slower than some to get on board, and more importantly it's arthritic when it comes toexiting a trade...put simply it is far too slow to recognise the trade should be exited. Some have3 discussed alternatives - TP75 etc - might it not be time to start thrashing out a better exit for this system, or (dare I suggest it) a better entry than the system default?
Sorry if I upset anyone there.
Dave[/QUOTE]
There is no need for anybody to be upset. New traders for very little money can obtain a very good system and save themselves a lot of money. It is important to observe that best trading results are during the London /US session, and that applies to this system too. There are no gimmicks here, just the sound principle of HH/HL and LH/LL.
In terms of the establishment of the trend there is always price to be paid, too early and one pays by being stopped, too late and the cost is the "loss" of some pips.
For me personaly, I would rather be in a well confirmed trend, when the "imaginned lost pips" can be compansated by larger position, if necessary.
There are scenarios that I treat this system as confirmation of very early swing entry, but it is always risky, and one needs other filters for it.
In my opinion if one follows the rules of this system and trades London session, one is likely to come with good profits.
I realise this is going to upset some people - I really don't want to do that, but Sniper (from my experience) is no better than lots of other systems that attempt to identify and trade trends, and is in fact slower than some to get on board, and more importantly it's arthritic when it comes toexiting a trade...put simply it is far too slow to recognise the trade should be exited. Some have3 discussed alternatives - TP75 etc - might it not be time to start thrashing out a better exit for this system, or (dare I suggest it) a better entry than the system default?
Sorry if I upset anyone there.
Dave[/QUOTE]
There is no need for anybody to be upset. New traders for very little money can obtain a very good system and save themselves a lot of money. It is important to observe that best trading results are during the London /US session, and that applies to this system too. There are no gimmicks here, just the sound principle of HH/HL and LH/LL.
In terms of the establishment of the trend there is always price to be paid, too early and one pays by being stopped, too late and the cost is the "loss" of some pips.
For me personaly, I would rather be in a well confirmed trend, when the "imaginned lost pips" can be compansated by larger position, if necessary.
There are scenarios that I treat this system as confirmation of very early swing entry, but it is always risky, and one needs other filters for it.
In my opinion if one follows the rules of this system and trades London session, one is likely to come with good profits.
forexkunta
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There is no need for anybody to be upset. New traders for very little money can obtain a very good system and save themselves a lot of money. It is important to observe that best trading results are during the London /US session, and that applies to this system too. There are no gimmicks here, just the sound principle of HH/HL and LH/LL.
In terms of the establishment of the trend there is always price to be paid, too early and one pays by being stopped, too late and the cost is the "loss" of some pips.
For me personaly, I would rather be in a well confirmed trend, when the "imaginned lost pips" can be compansated by larger position, if necessary.
There are scenarios that I treat this system as confirmation of very early swing entry, but it is always risky, and one needs other filters for it.
In my opinion if one follows the rules of this system and trades London session, one is likely to come with good profits.[/QUOTE]
I agree completely, 2be. Even with E wave rules, there is no way to tell that a trend has been established until wave 2 is complete, and does not break the rule of wave 2 never retraces 100% of wave 1. Until that is complete, you cannot tell that a trend is in or it may just be whipsaw.
Kent
wildpips
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Well said...I agree with your experience use of the system.
Sniperforex does give the edge on confirming the trend for the more experienced traders who may trades more lots,and want a qualifed/confirmed signal trend.
(But the manual says, take the signal when all three parts indicators sync.)
Personally, I would take always enter on retracements after the immediate confirmed
signals.
For the new users , of course, you guys may be disappointed IF you expects Sniperforex to give a early signal of some kind, as you will discover it is not the number one purpose of the systems. Well, its pretty obvious to have all the 3lines aligned in same colours do need sometime,And to have Snipertrend A and Snipertrend B to sync together, all takes more time, isn't?
Good luck to all.
forexkunta
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Well said...I agree with your experience use of the system.
Sniperforex does give the edge on confirming the trend for the more experienced traders who may trades more lots,and want a qualifed/confirmed signal trend.
(But the manual says, take the signal when all three parts indicators sync.)
Personally, I would take always enter on retracements after the immediate confirmed
signals.
For the new users , of course, you guys may be disappointed IF you expects Sniperforex to give a early signal of some kind, as you will discover it is not the number one purpose of the systems. Well, its pretty obvious to have all the 3lines aligned in same colours do need sometime,And to have Snipertrend A and Snipertrend B to sync together, all takes more time, isn't?
Good luck to all.
If you are looking for an earlier confirmation, then trade via the 30 min charts. I have found that doing that, when whipsaw sets in, you end up in a bad position. Trading the 1H charts helps to keep you out of that to a point. If you wait to place a trade when the Sniper dots also indicate the long or short, then that confirmation is even better. The difference may be only 20-30 pips. Nothing out there is absolutely perfect. An experienced trader can poke holes in any trading method. But I feel like Sniper is a very decent system, without spending the thousands of dollars that is possible to do trying to find a decent system.
Regards,
Kent
forexkunta
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Hey GumRai, How is your weekend going?
No reason why anyone should be upset by your comments.
I don't know if other systems are better at identifying entry and exit points - I haven't tried anything else.
All analysis that attempts to identify an established trend is going to be behind the times. This systems seems good enough at finding entry levels most of the time.
I totally agree with you that the exit strategy leaves a lot to be desired. I don't like the fact that there is no target price. The stoploss really has no relationship with the trade as far as I can see.
Early days yet for me with this system, but I'm sure that using historical support/resistance, fibonacci levels and of course Elliot Waves (if I could spot them!) may do a better job for fixing target levels, stoplosses etc.
Hi Kent,
weekend going well, It's just toooo hot! It's supposed to be the rainy season here now with more overcast days, but it happens to be more like the hot season. Still, only a couple of months to the cold season now.
I'm still spending a lot of time studying and trying to find ways to improve my strategy.
I was looking at the chart for the last short that was indicated by Sniper.
Assuming that the arrow must have appeared somewhere near the end of the time period. I can see that in that time period it closed just above the RISING MA in the middle of fairly wide bollinger bands. To me this could be a good short, but would require further confirmation.
Now looking at the Fibonacci levels, you can see that it went down and just touched the 61.8% level, but couldn't break through this important resistance. This would suggest going long. I know that there is a relationship between Fibs and EW, so I would value your comments.
With this failure to break the 61.8 level and with it sitting on the 20MA, the best thing to do is wait and see what happens. A clean break through the 61.8 and then go short with the lower bollinger band as target 1.
Failing that a clean break up through the 38.2 and consider going long.
The following candles indicate indecision in the market as there was no break of either of these Fib levels.
But then it touched and retracted from the 61.8 level twice more, indicating that this was a very strong resistance. The following candle was a bull and this signalled a definite long with the upper bollinger as target 1.
At this time the Sniper short was still active ( I did not take the short) and exiting now would have enabled closing the deal at around break even, staying with it full term would have incurred a loss.
I write this as an example because of the previous comments re the poor exit strategy of Sniper. Sometimes when you are doing your own analysis and it totally conflicts with what Sniper is telling you, maybe it is better to stick with your own analysis.
Right click on the image below and open in new tab/window
weekend going well, It's just toooo hot! It's supposed to be the rainy season here now with more overcast days, but it happens to be more like the hot season. Still, only a couple of months to the cold season now.
I'm still spending a lot of time studying and trying to find ways to improve my strategy.
I was looking at the chart for the last short that was indicated by Sniper.
Assuming that the arrow must have appeared somewhere near the end of the time period. I can see that in that time period it closed just above the RISING MA in the middle of fairly wide bollinger bands. To me this could be a good short, but would require further confirmation.
Now looking at the Fibonacci levels, you can see that it went down and just touched the 61.8% level, but couldn't break through this important resistance. This would suggest going long. I know that there is a relationship between Fibs and EW, so I would value your comments.
With this failure to break the 61.8 level and with it sitting on the 20MA, the best thing to do is wait and see what happens. A clean break through the 61.8 and then go short with the lower bollinger band as target 1.
Failing that a clean break up through the 38.2 and consider going long.
The following candles indicate indecision in the market as there was no break of either of these Fib levels.
But then it touched and retracted from the 61.8 level twice more, indicating that this was a very strong resistance. The following candle was a bull and this signalled a definite long with the upper bollinger as target 1.
At this time the Sniper short was still active ( I did not take the short) and exiting now would have enabled closing the deal at around break even, staying with it full term would have incurred a loss.
I write this as an example because of the previous comments re the poor exit strategy of Sniper. Sometimes when you are doing your own analysis and it totally conflicts with what Sniper is telling you, maybe it is better to stick with your own analysis.
Right click on the image below and open in new tab/window
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