Sniper Forex System

forexkunta said:
So how goes the 4H trading? Personally, I am hooked.
Kent
Click to expand...

Hi Kent,

4H is going well. Very little whip-saw and much less time spent screen watching. Hopefully the pippage will follow too. I have confidence this will be profitable based on a eyeball backtest of a few charts and Sal's evidence.
 
schweepus said:
Hi Kent,

4H is going well. Very little whip-saw and much less time spent screen watching. Hopefully the pippage will follow too. I have confidence this will be profitable based on a eyeball backtest of a few charts and Sal's evidence.
Click to expand...

So far I have closed 5 trades with 230 pips profit this week, and am in 4 other trades with 274 pips floating. If I closed right now and quit for the week, it would be a 500 pip week.
I am not going to complain. I realize that every week will probably not be like this, but when they are, woohoo. And this is only the corrections of several long trends. I am sticking to the 4h for the foreseeable future. Ranging markets will certainly eat into profits when they come, and they will, but for the most part my wife is happier that I am not glued to a computer screen 24hrs a day 5 days a week.
Kent
 
forexkunta said:
So far I have closed 5 trades with 230 pips profit this week, and am in 4 other trades with 274 pips floating. If I closed right now and quit for the week, it would be a 500 pip week.
I am not going to complain. I realize that every week will probably not be like this, but when they are, woohoo. And this is only the corrections of several long trends. I am sticking to the 4h for the foreseeable future. Ranging markets will certainly eat into profits when they come, and they will, but for the most part my wife is happier that I am not glued to a computer screen 24hrs a day 5 days a week.
Kent
Click to expand...

Hi Kent,

I am currently sitting at around 833 pips profit!!! I'm trading GU, GUppy, EurGBP and a few others. I'm well chuffed as you can imagine, 4h rocks!!!

Just wondering if you close all trades at NY close if they are open? I have been leaving trades overnight and as a result I think I have been taking unnecessary losses when closing them at NY close would have been better. I guess I can always re-open trades if necessary in the morning.

Sal just wondering what do you do when you have open trades at the NY close?

Thanks :)
 
schweepus if you are trading the 4h you are not sitting all the time in front of the screen and watch the trade right? What is your Stop loss and take profit?
 
schweepus said:
Hi Kent,

I am currently sitting at around 833 pips profit!!! I'm trading GU, GUppy, EurGBP and a few others. I'm well chuffed as you can imagine, 4h rocks!!!

Just wondering if you close all trades at NY close if they are open? I have been leaving trades overnight and as a result I think I have been taking unnecessary losses when closing them at NY close would have been better. I guess I can always re-open trades if necessary in the morning.

Sal just wondering what do you do when you have open trades at the NY close?

Thanks :)
Click to expand...


i keep them... 4H chart are more for swing so you the noise from overnight sessions is minimum... glad to see you in profit.

In my opinion one should have a portfolio of 4-5 uncorrelated currencies and trade them. I promise you'll be in profit pretty much every month almost... if one pair fails to deliver other one should compensate. to me it's the best approach for a smooth growing equity curve...
 
schweepus said:
Hi Kent,

I am currently sitting at around 833 pips profit!!! I'm trading GU, GUppy, EurGBP and a few others. I'm well chuffed as you can imagine, 4h rocks!!!

Just wondering if you close all trades at NY close if they are open? I have been leaving trades overnight and as a result I think I have been taking unnecessary losses when closing them at NY close would have been better. I guess I can always re-open trades if necessary in the morning.

Sal just wondering what do you do when you have open trades at the NY close?

Thanks :)
Click to expand...
Oh yeah, I keep the trades open, check on them on the 4Hr bar close for a minute, change any stop losses that need attention and go back to bed. I have 1 trade that I opened on Monday. Sometimes these trends can last for a week or more, so to get the most pips, let em run through the night. Glad you are having fun, I am up atm around 700 pips for the last 2 days, so hell yeah, 4H rocks.
Kent
 
salvadorveiga said:
i keep them... 4H chart are more for swing so you the noise from overnight sessions is minimum... glad to see you in profit.

In my opinion one should have a portfolio of 4-5 uncorrelated currencies and trade them. I promise you'll be in profit pretty much every month almost... if one pair fails to deliver other one should compensate. to me it's the best approach for a smooth growing equity curve...
Click to expand...

Hi Sal,

Which are the best 4 or 5 uncorrelated pairs to trade (in your opinion)?

Thanks :)
 
forexkunta said:
Oh yeah, I keep the trades open, check on them on the 4Hr bar close for a minute, change any stop losses that need attention and go back to bed. I have 1 trade that I opened on Monday. Sometimes these trends can last for a week or more, so to get the most pips, let em run through the night. Glad you are having fun, I am up atm around 700 pips for the last 2 days, so hell yeah, 4H rocks.
Kent
Click to expand...

Got stopped out on Guppy and EURJPY (Euppy?) :( Seems that some US data caused the spike up.
 
anyone got an idea of what the stop indicator is in Sniper Forex. I have worked out the Trend B and Sniper indicators and possibly the Trend A but not so much the stop. Any ideas?
 
Does anyone here pyramid profitable positions with Sniper? An if so would they be able to describe the strategy they use?

One idea I have is that once a position is at breakeven one could add to the position using half the risk used initially. So if you initially risked 1% of account size for the trade and the trade gets to breakeven you could execute another trade at 0.5% of account size.

Thanks :)
 
schweepus said:
Does anyone here pyramid profitable positions with Sniper? An if so would they be able to describe the strategy they use?

One idea I have is that once a position is at breakeven one could add to the position using half the risk used initially. So if you initially risked 1% of account size for the trade and the trade gets to breakeven you could execute another trade at 0.5% of account size.

Thanks :)
Click to expand...

Well, that is a good strategy to use, and yes, I do that if risk allows. However, you would need the knowledge to be able to determine, when adding to, whether or not that is a good idea, based on where the current trend is, and possibly will go, as far as length. So, I would be careful, unless you have Elliott Wave principle knowledge.
Kent
 
Just got stopped out on the 4H AUDJPY trade. I waited for a pullback before getting in but still got stopped out :( Anyone else take that one too?
 
400 is a lot to give back!:devilish:

You must have a solid constitution in terms of following your strategies.:cool::smart:

I'll be screaming Blue murder and bail out after the firsr 100:cry::(:cry:
 
forexkunta said:
Awful hell, I am up 500 pips, was up 900, but the whip got 400 of it
That is not a bad week, whipsaw or not.
Click to expand...

That sorts the men from the boys.
Well done Kent, you've got totally the right attitude. Focus on the fact that you made 500 pips and not dwell on the 400 that might have been.
You're never going to get out with maximum pips and you can accept that - good for you :clap:
 
GumRai said:
That sorts the men from the boys.
Well done Kent, you've got totally the right attitude. Focus on the fact that you made 500 pips and not dwell on the 400 that might have been.
You're never going to get out with maximum pips and you can accept that - good for you :clap:
Click to expand...

Amen to that! Coulda woulda shoulda will kill you....
 
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