Hi Chris,

It is certainly of interest to us, we have also just updated our November journal to date.

It is interesting that whilst we have some similar trades we also seem to have more trades than you. We are also showing a small loss in November to date, albeit a smaller loss than yourself.

Look forward to seeing how we fair going forward.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

Hi,

Yes I agree there are a few discrepencies with our results which are to be expected.

I am currently having problems with my e-mail alert and often miss out on the exact point of entry if I am not
by the screen although sometimes this can work in my favour depending on which way the price has moved. I did notice however that you placed three trades on Thursday 12th, two short and one long, but on my chart it clearly shows only two trades. See attachment.

Any thoughts?

Chris.

Hi Chris,

A small problem with Sniper is that it issues alerts (when a trade is imminent) and then you must ensure/wait for everything else to line up (as you know). Sometimes this does not materialise but if it does, a trade is entered.

In this instance we got an arrow on our chart, this is the alert "GBPUSD, H1, 2009.11.12 11:00, Bid=1.65452". All conditions were met and we placed a trade, however when we looked back the Arrow had disappeared (incidentally this has also happened this morning, we are currently Long (after receiving an alert and the arrow that was there is no longer no present). Thus, there is no indication of these on the screen when you look back retrospectively.

Although Sniper comes with alerts this manual process is still required and it is one of the reasons Sniper cannot be "eye-balled" and back-tested. It would be excellent if there was a clear "Trade entry" email for every trade then perhaps we would all be much closer to achieving the same results (assuming one is around to receive and act on those alerts of course!). It would also be of benefit if the arrows did not appear and then subsequently disappear.

Hope it helps.

Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.


ReviewTeam - www.systemsfortraders.com

November 2009 Trades (To Date)

Date Dir Entry Exit P/L
2-Nov long 16446 16390 -56
2-Nov short 16389 16400 -11
3-Nov short 16355 16378 -23
3-Nov long 16391 16522 131
5-Nov short 16522 16522 0
5-Nov long 16620 16615 -5
9-Nov long 16727 16722 -5
9-Nov short 16723 16782 -59
10-Nov long 16734 16730 -4
12-Nov short 16546 16575 -29
12-Nov short 16534 16572 -38
12-Nov long 16575 16667 92
16-Nov short 16699 16729 -30
16-Nov long 16743 16807 64
17-Nov long 16859 16793 -66
17-Nov short 16783 16817 -34
18-Nov long 16824 16788 -36
18-Nov short 16768 16670 98
20-Nov long 16670 16599 -71
20-Nov short 16595 16493 102

November Profit/Loss (to date) = +20

With an average losing trade of around 60 pips and 2% risk per trade, November Profit/Loss (to date) = +1%.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

Hi,
Here's my journal for the week commencing Monday 16th Nov. (Week 3)


Monday 16th
short @ 1.6671
stop @ 1.6750
exit @ 1.6742
71 points loss

long @ 1.6743
stop @ 1.6661
exit @ 1.6800
57 points profit

Tuesday 17th
short @ 1.6785
stop @ 1.6870
exit @ 1.6829
44 points loss

Wednesday 18th
short @ 1.6760
stop @ 1.6850
exit @ 1.6659
101 points profit

Friday 20th
short @ 1.6573
stop @ 1.6645
exit @ 1.6529
44 points profit

End of week 3 shows a profit of 87 points (average stop 80 points)

Running total so far for November shows a 15 point loss.

Hi,
Here's my journal for the week commencing Monday 16th Nov. (Week 3)


Monday 16th
short @ 1.6671
stop @ 1.6750
exit @ 1.6742
71 points loss

long @ 1.6743
stop @ 1.6661
exit @ 1.6800
57 points profit

Tuesday 17th
short @ 1.6785
stop @ 1.6870
exit @ 1.6829
44 points loss

Wednesday 18th
short @ 1.6760
stop @ 1.6850
exit @ 1.6659
101 points profit

Friday 20th
short @ 1.6573
stop @ 1.6645
exit @ 1.6529
44 points profit

End of week 3 shows a profit of 87 points (average stop 80 points)

Running total so far for November shows a 15 point loss.

Here's my journal for the week commencing Monday 23 Nov.

Monday 23rd
long @ 1.6535
stop @ 1.6455
exit @ 1.6606
71 points profit

Tuesday 24th
short @ 1.6560
stop @ 1.6627
exit @ 1.6580
20 points loss

long @ 1.6578
stop @ 1.6490
exit @ 1.6665
87 points profit

Wednesday 25th
short @ 1.6672
stop @ 1.6750
exit @ 1.6460
212 points profit

Friday 27th
long @ 1.6412
stop @ 1.6310
exit @ 1.6490
78 points profit

Monday 30th
short @ 1.6467
stop @ 1.6560
exit @ 1.6460
7 points profit

That's a 435 points profit for this week minus 15 points running total which
gives me a monthly total of 420 points. With an average stop of approx 80 points and
2% risk per trade gives me approx 10% return on the account for November.

First, a big thanks to Chris for posting his journal - it's always of interest to see how others are doing. This is our journal for November:

Date Dir Entry Exit P/L
2-Nov long 16446 16390 -56
2-Nov short 16389 16400 -11
3-Nov short 16355 16378 -23
3-Nov long 16391 16522 131
5-Nov short 16522 16522 0
5-Nov long 16620 16615 -5
9-Nov long 16727 16722 -5
9-Nov short 16723 16782 -59
10-Nov long 16734 16730 -4
12-Nov short 16546 16575 -29
12-Nov short 16534 16572 -38
12-Nov long 16575 16667 92
16-Nov short 16699 16729 -30
16-Nov long 16743 16807 64
17-Nov long 16859 16793 -66
17-Nov short 16783 16817 -34
18-Nov long 16824 16788 -36
18-Nov short 16768 16670 98
20-Nov long 16670 16599 -71
20-Nov short 16595 16493 102
20-Nov long 16670 16599 -71
23-Nov long 16544 16604 60
24-Nov short 16573 16591 -18
24-Nov long 16595 16667 72
25-Nov short 16660 16726 -66
26-Nov short 16665 16410 255
27-Nov long 16410 16470 60
30-Nov short 16475 16419 56

November Profit/Loss = +368

With an average losing trade of around 60 pips and 2% risk per trade, November Profit/Loss (to date) = +12%.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

Here's my journal for the week commencing Monday 30th Nov.


Tuesday 1st
long @ 1.6525
stop @ 1.6425
exit @ 1.6599
74 points profit

Wednesday 2nd
short @ 1.6587
stop @ 1.6652
exit @ 1.6652
65 points loss

long @ 1.6667
stop @ 1.6567
exit @ 1.6626
41 points loss

Thursday 3rd
long @ 1.6671
stop @ 1.6622
exit @ 1.6650
21 points loss

short @ 1.6652
stop @ 1.6723
exit @ 1.6580
72 points profit

Friday 4th
I don't enter a trade on the run up to the NFP's but there was a signal after the news release

short @ 1.6511
stop @ 1.6631
exit @ 1.6440
71 points profit

That's a 90 points profit this week with an average stop of 85 points so about a 2% gain.

Originally Posted by robtaz

Hi,

I've gone through my trades and I think you're not following the rules exactly, although I do understand why as this one I only found out about after I started sniper. If you open your charts at 6am and a signal was generated during the Asian session i.e overnight and the price is still fairly close (no strict definition of this) and still valid you can enter.

If you follow this in Oct you would have got the 9/10 entry at 1.6018 sell signal closed by myself on Fri 10/10 at 1.5836 for +182.

15/10 6am buy at 1.6069 stopped out 7am 16/10 at 1.6309 = + 240.

21/10 8am buy at 1.6445 out at 6am 22/10 at 1.6605 = +160.

You also have a short worth over 100 pips after the bad GDP figures on 23/10. Those are the main trades I have that you don't that make a massive difference to the figures.

Hope that helps.

I could not help but notice that there seems to be a discrepancy between the pips reported by the Review team and the members of this forum when using the Sniper FX trading system.

Much to my surprise when a fellow trader informed me that he was having his account Auto-Traded by the Sniper FX trading software on the “FXCM system selector” and not having much luck I asked him for the link.

This should in fact clear up the discrepancies in the pip counts, since we are able to actually see the trades that the system itself places with respect to its entry and exits.

The default “Time Frame” for the FXCM system selected is set to 12/2009. But if you switch it to the beginning of 12/2008 and to the end of 12/2009. It’s easy to see on the “Equity Curve” chart that is provided that the system itself has not performed very well and is extremely volatile and appears to actually have lost all the gains made in 2008 and had a negative equity draw down. This is only on the GBP/USD.

From viewing the “FXCM system selector” it is also clear to see at the system not only trades the GBP/USD. But also the USD/JPY, EUR/USD, USD/CSD and the AUD/USD.

If you were to look at the equity curve from the start of 2008 to December 2009 and take into account all the trades that were made on all the above pairs mentioned you will notice that over the last twenty-four months the system has not made any profits, and in fact is sitting with a negative draw down.

I hope this helps to clear up any performance issues with the Sniper FX trading system.

At "FXCM system selector" perform the following:

Step 1. Unclick “Select All” in the Select Systems Box.

Step 2. Scroll down and check the box next to the Sniper FX, at the bottom of the box were the systems that start with the letter “S” are displayed and the 5 pairs the Sniper FX system trades with be shown.