I've just entered a long trade based on the GBP-USD H1 chart. Stoch rising although price making lower low. Continuation of up move at the BMB.
I got in late, 05:30 FXPro time 10th June, so a better price at 1.4533. Target 1.4590

I'm with you on this Jarek.
Nowadays the first profile that I open is snipers when I sit down at the computer. I do find it a bit frustrating that so many set-ups seem to wait for me to be away from my computer before they form
Mind you, it can be good on occasions. The GBP-USD trade that I have open at the moment was still tradeable, although I was not looking when it formed. I already feel like a winner, when I enter a trade at a better price

I guess that your times are GMT? so with your EUR-USD trade, the close of the 18:30 FXPro candle?
That would be a short trade set-up that I'm not sure about. After the strong bullish move, it maybe one where we should wait for a second reversal signal or at least supported by another indicator. But with my limited experience of this strategy I often see these type of set-ups signal a strong reversal, with no 2nd signal. Often with a much better R:R result.

I agree that there has not been good movements with USD-CHF recently. Well done with taking the trade. Personally, I don't think that I would have taken that one.

Your EUR-USD and EUR-JPY set-ups were at the same time, with some correlation so I can understand why you didn't take both.

It's really good to see you are getting the hang of this strategy.
I am finding my confidence grow with this as well

Good luck


Keith

PS.
I've been in and out while writing this post.
The target was hit with my GBP-USD H1 trade
57 pips profit for 33 pip risk
Dare I hope that I will do better than break-even this week?

GBP-USD (M30) 07:30 (FXPro) candle possibly forming a signal with a double top and MACD divergence.
If this candle is a good bearish candle, maybe a good short trade set-up.
It's nice to see some more signals forming while I am sitting at the computer

The bearish candle wasn't strong enough.
With close of the next candle (08:00 FXPro) I couldn't decide which looked the best set up, this one or EUR-USD. I plumped for the latter in the end and took the short trade, only looking for 20 pips 1:1 with this trade.
Moved against me early, so not feeling too optimistic. I do find it a bit difficult trading with such small stops.

Will see how this pans out.


Keith

EUR-USD hit my stop very quickly.
I do wonder if there should be a minimum candle range before entering a trade.
The difference between the high and low of the signal candle was only 16 pips I will have to try to keep note in future
If I had stuck with GBP-USD, the trade would still be open and that had a bigger range.

Euro-JPY M30 looking good with stoch divergence 12:30 FXPro candle close
Have taken the position
GBP-JPY similar, but I get a better spread with the Euro cross

As no clear trend, I stuck to 1:1 with this one and target hit

Hi Keith,
Good to see you coming out with your trades. I consider breakeven week (no matter how silly my thinking is) as a win or success. I'm nowhere near to say I know what I'm doing so getting breakeven means I'm not messing around too much
Good job on your trades Keith. Yes I use GMT as a time zone.
Just had a look on your setups, FxPro server time is GMT+3 isn't ?
If yes then this another example of decentralisation by brokers. You couldn't see my setups from yesterday (I mean appropriate candlestick patterns facilitating the trade) and I couldn't see some of yours. If you PM some of the charts I would be grateful again. Whatever the big boys do with our platforms and price patterns we have to train and progress to slap them more effectively.
Cheers,

Jarek

Hi Jarek,
This snipers strategy is so new that I also consider being able to break-even after such a short period of using it as a success.
Yes FXPro time is GMT + 3, but they change their clocks around the same time as the UK so I believe that it is always UK time +2. Now is BST so it is BST +2. Towards the end of October, the UK reverts to GMT and FXPro will be GMT + 2

One thing I have discovered about myself with using this snipers strategy. I thought that i had my emotions pretty much under control, but working with the smaller time-frames, I find a real inner battle going on.
With smaller stops and targets, watching the trades is a killer. It's actually exciting to watch a trade go into profit and so disappointing when it reverses into a loss. There is the danger that this strategy will bring out the gambler in you, and as we know the gambler will never win. At least I recognise this problem and so I will usually try to place a trade with the proper stop and target and try to ignore it, just checking up occasionally

I've had a good day today Jarek, and I hope that you and everybody else has enjoyed success

Keep slapping the brokers


Keith

Good for you Bill

Couldn't spot many setups today, althought I believe this is why because I can't properly assess continuation signals. This part of snipers system I can't tackle. I need to go through a video again as I fixed myself on reversals only.
However that wasn't bad day anyway.
USDCAD 14:00 GMT taken with 1:1 RR, there was ? some stochastic convergence, however the downtrend was strong
I think I will call it a week for a single most important reason: this week closing positive so far (better than breakeven), no gambling (you are right Keith).
Greetings for all

Hi Keith,
Good to hear Keith. Thank you for your good wishes, they've worked for me
Lucky day for me as well as getting better than breakeven. So maybe I will call it a week. Had to work hard for this minimal gain but what counts at the end of the day is P/L value. Let's use the beginners luck and relax.
You are right about the time zone I use. I decided to use GMT as a reference as this makes all calculations shorter for me. So during BST I still use GMT as my broker has a different time zone anyway.
I do agree on the whole aspect of trade monitoring, probably having fixed orders and then closing the computer like Vahid recommends is the best option (unless you are scalping for 10 pips here and there). I don't want to duck tape my head to the computer screen but at the same time I know that experience is what it counts in any type of activity or enterprise. Just to find a proper balance between these two.

All the best for you and your family
Jarek

Here is a little exercise that will give you a lot of experience in a short time. Take EUR/USD or GBP/USD and on one screen put 1 MIN, 5 MIN, 15 MIN, and 30 MIN charts. So you have 4 charts in different time frames of the same pair on 1 screen. Now just watch it and apply your Sniper methodolgy to the different time frames. Don't have to take any trades but watch how the formations occur. You will see on the lower time frames many potential setups occur and either succede or fail. But you will gain much practice and experience by doing this. The smaller time frames mirror the bigger time frames but they are not as reliable. Try it and I believe you may learn more than you may think. Happy trading.

The Dawg

Cheers Bill,
I'll start it even from tomorrow. So the same rules (means snipers MA breakout, stoch diverg/converge) should apply to all of them I suppose ? (just to confirm).
Thank you for your suggestions and a chance to learn something relevant.
I was alway afraid and staying away from short time frames but it seems sooner or later I will have to sit on this wild horse
I also note that since I starte to keep a detailed journal of my all trades with charts I became more picky with trades as well.
Simple things and basics seem to show their meaning only when followed consistently.

Yes, the same rules you follow on the 30 MIN chart. Don't take live trades on the lower time frame. Just watch, learn, and practice. Trade a demo if you like. Like I said before you will be surprised in what you learn. Specially if you watch the charts from when London session opens until about noon New York time.

Hi Bill,

Following your suggestion, I spent some time looking at the 5 minute charts on a few pairs.
I placed 11 trades on my demo account and 8 were winners. If I could achieve that sort of success rate with rel trading, I would be over the moon.
I don't know how people can manage to trade the 5 minute charts. No time to work out position size and stops often too tight to be accepted by the MT4 platform. But it's good practice for trading the higher time-frames.

I've only placed 1 real trade today, a short on USD-JPY and that worked out:)

Not sure if I will do any more trading today as littl'un is off school and it depends how long she will allow me to sit at my computer

Hope that everyone has had a successful week


Keith

I have a hard time believing there was 11 legitimate Sniper trade setups in such a short time. Be careful Keith. You are setting yourself up for a big let down again.

That was over a 4 hour period although I wasn't totally glued to the screen and I was watching 5 pairs. Admittedly, some of the trades were correlated.
11 trades are still a very small sample to draw any conclusions, but certainly practicing real time with M5 is looking to be beneficial.

Where are all my Sniper buddies. Everyone awful quiet this week. No one Sniping this week? I've had 2 trades so far this week. Both on 30 minute charts. Both are short trades, NZD/USD yesterday for a 3:1 winner and today EUR/AUD that I closed about 20 minutes ago for a 1:1 winner. Todays trade may keep going in the right direction but I am comfortable to get out when I did because I tend to think it may be getting ready to turn around.

Hello Bill,

I just haven't seen any trade set-ups that have ticked enough boxes for me. The better looking ones have occurred while I've not been at my computer, so a quiet week so far for me.
Glad that things have started well for you this week.

Best of luck

Keith