I'm afraid it's newbie question, but I have to ask

I have back checked and I really don't see why we need snipper MA, because LBB and UBB are "always" bigger or lower.

I think this system is the same that you talk here

http://www.forexoma.com/how-to-use-boll ... k-trading/

isn't it?

Thank you.

Hi,

Personally I respect all questions, we are all here to learn.

I have had similiar feelings, and have even posted that I don't know if sniper is more a confirmation signal than a setup signal. If sniper is removed and you are only left with BB and candlesticks, using BB and candlestick theory you would find most of the same setups.

The feshness that sniper has brought is that more signals are available, but that is because the timeframe is lower.

I mention in a post that I work with 5 to 10 trades per week (incorrectly said 5 to 10 per day at first). The reason this is the case is because I do analysis on the higher frames (1Hour and 4Hour) and when I have a perfect setup, I enter on a lower frame like 30 minute, even often 15 minutes, if the setup is right. So personally I would not use it, but I will take advantage of Vahid's signals if he sends them since I work and can't watch the charts.

The beauty of sniper however, is that it allows another perspective, another way to look at price action. And it may make more sense to someone than watching BB or basic candlestick theory. We all see things differently, and learn differently, and sniper may awaken an enlightment moment for someone who has been struggling with some other technique.

That is also the beauty of Forexoma. Vahid puts us in a candy store, but he does not tell us what candy to buy.

Vincent

I have the same question on the Sniper MA's. Backtesting the system on some of the smaller time frames sometimes you do see a pretty good BB break but not so much of the MA break. So this may be a part of the perfect trade set up. I think the MA's just may make us look at the signals closer and therefore more aware of some trade setups. I have taken 3 Sniper trades the past few days(on 3 different time frames, 15 MIN, 1HR, 4HR) and they all hit my profit target. I am sure Vahid will enlighten us more on this system in the coming days and answer our questions and then some. I also am wondering the significance of the Sniper MA's changing colors and if that plays any roll in the trade setup.

I would also like to say that I like all the candy that is in this candy store.

Hello Manolo,

What you say is basically true I think, but the snipers MAs do move outside of the bollinger bands fairly regularly.
The bollinger upper and lower bands are calculated by using the square root of the sum of the squares of the deviation from MA for the last 20 periods usually. Also, they are calculated by using the closing prices.
The Snipers bands are calculated by using the highs and the lows, so in periods of higher short term volatility, these bands may move outside of the bollinger's.

Depending on conditions there will be different types of combination breaks.

Candle wick breaks BB, candle wick breaks SnipersMA
Candle wick breaks BB, candle body breaks SnipersMA
Candle body breaks BB, candle body breaks SnipersMA
Candle body breaks BB, candle wick breaks SnipersMA (very rare, I should think)

I would imagine that these different combination breaks will be used to indicate the more trustworthy signals. Possibly help to differentiate between continuation and reversal signals.

I think that we should look at learning a strategy to trade Forex, should be compared to learning a language.
Imagine a teacher trying to introduce ABC's to a class of students. This is the first step in the students' education, necessary and the initial building blocks of the course.
If the students bombard the teacher with questions about conjugating verbs etc, before they have absorbed the basics, the lessons will become disjointed, the class becomes confused and many will give up because it is "just too difficult to grasp".

Vahid has just started to introduce this strategy to us and I think that we have to trust him to explain all in a coherent manner that allows us to learn without getting (too) confused. We should all sit on our hands for a while and resist the urge to ask too many questions without first allowing Vahid the opportunity to follow his teaching strategy

Good luck

Keith

Hi,

I started learning and using this system with the Snipers MA only. It worked but I had some false signals sometimes. I added Bollinger Bands to it and decided to take the positions only when there is a breakout in both of them, not only the Snipers. It could eliminate a lot of false signals. That is why now we have both of the Bollinger Bands and Snipers on the charts at the same time.

Hi My Friends,

As I said, this system can be used only with Snipers and originally was like that too. You can still use it without Bollinger Bands and you will have more trade setups. But having the Bollinger Bands helps you to skip a lot of false signals. A strong breakout both with Bollinger Bands and Snipers makes a perfect trade setup.

Yes, I am finding that out. It works extremely well on any time frame.

Perhaps we should write an EA, so we can back test it, and verify which are the best parameters, for example how much the breakout should be.

2 good trade setups today on the 30 minute charts. Don't know if these are perfect trade setups or not but its been working good for me. Vahid will let us know if these are perfect or not. I entered in the highlighted blue box on the chart. 1:1 profit target.

Hi Bill,

Those are good trades, but if more than 50% of the second candle that forms the signal breaks out of the bands, they will be much much better.

Thanks Vahid. Break out of the Sniper Band, Bollinger Band, both of them, or either one? I probably can answer my own question by saying if it breaks both it would be the best trade setup.

I don't want you to teach me anymore systems. I have plenty to work with.

Thanks again
Bill

Hi Bill,

I prefer both of them. You can still have some strong trade setups with the Snipers only, but it will be much much stronger if the breakout forms with both.

I wish you could find a couple of pictures of the perfect trade setup with this system. No matter the time frame but just to see the candlestick pattern.

In the videos that I have about this system, I have shown some perfect trade setups and have compared them with the non-perfect and weak trade setups. I will try to find and report some more perfect trade setup.

Hi Bill,

Did you watch the today's video about Snipers and the trade setups we had on USDCAD today? I hope your questions are answered.

Yes I did. I answered another members question on another thread and thanked you there. But it did clarify many things for me. Thanks again

Hi Bill,

Thanks for your answer to another members. If there is anything else which is not clarified, please let me know. I will do my best to explain.

Hi everyone,

After watching that last video featuring the Snipers strategy I feel that I have a much better understanding now at spotting the better set-ups.
I've been scanning a few currency pairs and it does work with a high degree of accuracy. Is this a case of the simplest strategy being the best? It's obvious that you get much fewer signals in the higher time-frames, but they still seem to work well.

Great stuff

Keith

Vahid,

I have another question about this system. As far as trading on the 30 MIN chart should we only take signals during the London and New York sessions or is a perfect signal fine to take anytime of day like a valid resistance/support breakout?

Thanks
Bill

Glad to hear that Keith. I love to hear that my efforts can help my clients. What else do I want?