Sniper Forex Trading System Journal

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  • #1762
    ReviewTeam
    ReviewTeam
    Keymaster

    Sniper Forex Trading System Journal

    Click below to visit the website

    About This Journal

    Systems For Traders had to be rebuilt in 2013
    This system was on our Systems We Use list from Oct-2009 – Jun-2010
    This is a reconstruction of our journal including
    Key posts and comments from the original forum


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    #1773
    ReviewTeam
    ReviewTeam
    Keymaster

    ReviewTeam

    03-Oct-2009

    After 2 months of live running Sniper Forex has been added to our “Systems We Use” list.

    This is a list of our trades from August and September 2009.

    August 2009

    Date Dir Entry Exit P/L
    03-Aug long 16827 16935 108
    05-Aug short 16925 16964 -39
    05-Aug long 16989 16948 -41
    10-Aug short 16624 16497 127
    13-Aug long 16527 16575 48
    14-Aug short 16555 16586 -31
    20-Aug long 16573 16573 0
    20-Aug short 16467 16520 -53
    21-Aug long 16520 16492 -28
    24-Aug short 16485 16513 -28
    25-Aug long 16439 16340 -99
    26-Aug short 16333 16236 97
    27-Aug long 16221 16291 70

    August Profit = +131

    September 2009

    Date Dir Entry Exit P/L
    01-Sep short 16238 16238 0
    02-Sep long 16166 16269 103
    03-Sep short 16309 16343 -34
    07-Sep long 16418 16386 -32
    07-Sep short 16331 16403 -72
    08-Sep long 16404 16485 81
    09-Sep long 16520 16511 -9
    10-Sep long 16623 16666 43
    14-Sep long 16612 16556 -56
    15-Sep short 16498 16470 28
    17-Sep short 16459 16266 193
    21-Sep long 16226 16359 133
    23-Sep short 16357 16356 1
    23-Sep long 16431 16359 -72
    23-Sep short 16355 16000 355
    25-Sep long 16029 15928 -101
    29-Sep long 15954 16078 124

    September Profit = +685

    With an average losing trade of around 60 pips and 2% risk per trade, August profit = +4%, September = +22%.

    ReviewTeam

    05-Nov-2009

    October 2009

    Date Dir Entry Exit P/L
    05-Oct short 15931 15931 0
    05-Oct short 15933 15979 -46
    06-Oct short 15904 15896 8
    07-Oct long 15920 16012 92
    12-Oct short 15748 15818 -70
    12-Oct short 15788 15820 -32
    13-Oct short 15752 15815 -63
    13-Oct long 15803 15922 119
    14-Oct short 15922 16025 -103
    15-Oct long 16069 16309 240
    16-Oct short 16262 16330 -68
    19-Oct long 16355 16384 29
    20-Oct long 16437 16370 -67
    20-Oct short 16335 16400 -65
    22-Oct long 16623 16623 0
    26-Oct long 16324 16324 0
    27-Oct short 16319 16394 -75
    28-Oct long 16383 16529 146
    30-Oct short 16530 16446 84

    October Profit = +129

    With an average losing trade of around 60 pips and 2% risk per trade, October profit = +4%.

    ReviewTeam

    17-Nov-2009

    We wanted to report what we consider a problem with Sniper – 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. This means you can place a trade (when all conditions are met) but when you look back later it will not appear as a trade.

    So, although Sniper comes with alerts this manual process (to check when all conditions are met) 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 everyone would achieve the same results. It would also be of benefit if the arrows did not appear and then subsequently disappear.

    ReviewTeam

    07-Dec-2009

    November 2009

    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 = +12%

    ReviewTeam

    20-Dec-2009

    December 2009

    A terrible months trading for us this month, as below:

    Date Dir Entry Exit P/L
    1-Dec long 16510 16593 83
    2-Dec short 16593 16622 -29
    2-Dec long 16669 16629 -40
    3-Dec long 16672 16651 -21
    3-Dec short 16645 16574 71
    4-Dec long 16584 16584 0
    7-Dec short 16338 16445 -107
    7-Dec long 16471 16395 -76
    8-Dec short 16375 16268 107
    9-Dec short 16190 16275 -85
    9-Dec long 16274 16219 -55
    9-Dec short 16230 16321 -91
    10-Dec short 16235 16302 -67
    10-Dec long 16327 16245 -82
    11-Dec long 16332 16260 -72
    11-Dec short 16231 16242 -11
    14-Dec long 16319 16225 -94
    15-Dec short 16227 16273 -46
    16-Dec long 16298 16300 2
    17-Dec short 16267 16151 116
    18-Dec long 16218 16179 -39

    December Profit/Loss = -536

    With an average losing trade of around 80 pips and 2% risk per trade, December Profit/Loss = -13%.

    ReviewTeam

    29-Jan-2010

    January 2010

    A month that started badly and then looked like we were going to end in Black, unfortunately we ended up slightly down, as below:

    Date Dir Entry Exit P/L
    4-Jan-10 Short 16090 16178 -88
    4-Jan-10 Long 16205 16114 -91
    4-Jan-10 Short 16084 16142 -58
    5-Jan-10 Short 16043 16027 16
    6-Jan-10 Long 16036 15972 -64
    6-Jan-10 No Trade – ISM Due Out
    7-Jan-10 Short 15962 15942 20
    8-Jan-10 Long 15967 15997 30
    11-Jan-10 Short 16115 16133 -18
    12-Jan-10 Long 16133 16284 151
    14-Jan-10 Short 16284 16324 -40
    14-Jan-10 Long 16318 16320 2
    15-Jan-10 Short 16331 16258 73
    18-Jan-10 Long 16308 16334 26
    19-Jan-10 Long 16407 16368 -39
    19-Jan-10 Short 16333 16288 45
    21-Jan-10 Short 16262 16232 30
    21-Jan-10 Long 16216 16202 -14
    25-Jan-10 Long 16165 16205 40
    26-Jan-10 Short 16147 16128 19
    27-Jan-10 Long 16140 16148 8
    27-Jan-10 Short 16165 16185 -20
    28-Jan-10 Long 16248 16174 -74
    28-Jan-10 Short 16135 16147 -12

    January Profit/Loss = -58

    With an average Stop loss of around 70 pips and 2% risk per trade, January Profit/Loss = -2%.

    ReviewTeam

    26-Feb-2010

    February 2010

    February seen us move into profit for the year after a negative start in January, all trades listed below:

    Date Dir Entry Exit P/L
    1-Feb-10 Long 15905 15945 40
    2-Feb-10 Long 15970 15995 25
    3-Feb-10 Short 15959 15596 363
    8-Feb-10 Long 15637 15584 -53
    9-Feb-10 Short 15575 15632 -57
    9-Feb-10 Long 15675 15668 -7
    10-Feb-10 Short 15615 15636 -21
    11-Feb-10 Long 15684 15674 -10
    12-Feb-10 Short 15620 15663 -43
    15-Feb-10 Long 15676 15655 -21
    16-Feb-10 Long 15700 15679 -21
    16-Feb-10 Short 15643 15710 -67
    16-Feb-10 Long 15775 15786 11
    17-Feb-10 Short 15710 15650 60
    23-Feb-10 Long 15525 15504 -21
    24-Feb-10 Short 15410 15474 -64
    24-Feb-10 Short 15390 15270 120
    26-Feb-10 Long 15275 15223 -52

    February Profit/Loss = -+182

    With an average Stop loss of around 80 pips and 2% risk per trade, February Profit/Loss = 4%.


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    #1776
    ReviewTeam
    ReviewTeam
    Keymaster

    ReviewTeam

    10-Mar-2010

    We have just compiled stats for our 7 months exposure to Sniper Forex and the high level results are as follows:

    August 2009 +4.4%
    September 2009 +22.8%
    October 2009 +4.3%
    November 2009 +0.7%
    December 2009 -17.9%
    January 2010 -1.7%
    February 2010 +4.6%
    TOTAL +17.2%

    If we had avoided December we would be doing quite nicely!

    ReviewTeam

    03-Apr-2010

    March 2010

    An excellent trading month for Forex Sniper:

    Date Dir Entry Exit P/L
    2-Mar-10 Long 14978 15066 88
    4-Mar-10 Short 15063 15092 -29
    4-Mar-10 Long 15105 15033 -72
    4-Mar-10 Short 15034 15062 -28
    8-Mar-10 Short 15069 14999 70
    10-Mar-10 Short 14931 14963 -32
    11-Mar-10 Long 14974 14963 -11
    11-Mar-10 Long 15052 15030 -22
    12-Mar-10 Long 15148 15177 29
    16-Mar-10 Long 15091 15295 204
    18-Mar-10 Short 15297 15318 -21
    18-Mar-10 Short 15235 15027 208
    22-Mar-10 Long 14995 15056 61
    23-Mar-10 Short 15052 15060 -8
    23-Mar-10 Long 15038 15020 -18
    24-Mar-10 Short 14975 14888 87
    25-Mar-10 Long 14898 14910 12
    25-Mar-10 Short 14884 14890 -6
    29-Mar-10 Long 14926 15060 134
    31-Mar-10 Short 15064 15110 -46
    31-Mar-10 Long 15153 15257 104

    March Profit/Loss = +704

    With an average Stop loss of around 70 pips and 2% risk per trade, March Profit/Loss = 20%.

    ReviewTeam

    05-May-2010

    April 2010

    After such a great month for Sniper we hit one of the worst in April:

    Date Dir Entry Exit P/L
    6-Apr-10 Short 15219 15225 -6
    6-Apr-10 Long 15229 15240 11
    7-Apr-10 Short 15204 15238 -34
    7-Apr-10 Long 15270 15221 -49
    8-Apr-10 Short 15156 15222 -66
    8-Apr-10 Short 15180 15240 -60
    8-Apr-10 Long 15263 15323 60
    12-Apr-10 Short 15412 15376 36
    13-Apr-10 Long 15390 15365 -25
    13-Apr-10 Short 15365 15422 -57
    14-Apr-10 Long 15451 15470 19
    15-Apr-10 Short 15413 15467 -54
    15-Apr-10 Long 15490 15430 -60
    16-Apr-10 Short 15387 15462 -75
    19-Apr-10 Long 15310 15290 -20
    20-Apr-10 Long 15400 15345 -55
    21-Apr-10 Short 15350 15395 -45
    21-Apr-10 Long 15404 15416 12
    22-Apr-10 Short 15395 15395 0
    23-Apr-10 Long 15393 15310 -83
    27-Apr-10 Short 15441 15283 158
    28-Apr-10 Long 15283 15223 -60
    28-Apr-10 Short 15223 15202 21
    29-Apr-10 Long 15221 15315 94

    April Profit/Loss = -338

    With an average Stop loss of just over 70 pips and 2% risk per trade, April Profit/Loss = -9.5%, giving back almost half our profits from last month.

    ReviewTeam

    01-Jun-2010

    May 2010

    A very very disappointing month for Sniper in our opinion. A 1,000+ pip fall in GBP/USD at the beginning of the month and instead of licking our lips we are licking our wounds:

    Date Dir Entry Exit P/L
    4-May-10 Short 15219 15169 50
    5-May-10 Long 15167 15110 -57
    5-May-10 Short 15086 15099 -13
    11-May-10 Long 14888 14878 -10
    12-May-10 Short 14833 14855 -22
    13-May-10 Short 14755 14637 118
    14-May-10 Short 14556 14630 -74
    17-May-10 Long 14488 14420 -68
    18-May-10 Long 14478 14443 -35
    18-May-10 Long 14465 14404 -61
    18-May-10 Short 14358 14324 34
    19-May-10 Long 14335 14347 12
    20-May-10 Short 14369 14395 -26
    20-May-10 Long 14369 14351 -18
    24-May-10 Short 14428 14311 117
    25-May-10 Long 14354 14354 0
    26-May-10 Short 14350 14415 -65
    26-May-10 Short 14366 14415 -49
    26-May-10 Long 14429 14460 31
    26-May-10 Long 14569 14556 -13

    May Profit/Loss = -149

    With an average Stop loss of around 100 pips and 2% risk per trade, May Profit/Loss = -3%. As noted above, we are extremely disappointed about this. We are currently monitoring the effort/reward in relation to this system.

    forexwork

    17-Jun-2010

    I’m using sniper since April and May. I must admit that both month ended in negative results
    for me. Therefore i’m quite disappointed. Maybe it would work on the long term. But the most confusing is the always great discrepancy between our and the results on the sniper-site.

    Gary has always positive result, and he is sending to us always mails when sniper get great
    trades (130 pips here and 300 pips there) but when sniper does not perform well he is keeps silence.

    It would be appreciated if he could show an official journal on his site, so everyone can compare his own trading with Garys trading. But there is nothing like this.

    But the most important thing is, as i told before, there are so many discrepancies…

    I will not continue using Sniper. Sorry guys….

    Hope you will have more success…

    forexwork

    01-Jul-2010

    Again very bad month for Sniper.

    But as always Gary has again positive results. Very remarkable.

    ReviewTeam

    02-Jul-2010

    June 2010

    Another disappointing month for Sniper although at least this one was in positive territory for the first time in 3 months, albeit for a 1.5% return:

    Date Dir Entry Exit P/L
    1-Jun-10 Short 14468 14525 -57
    1-Jun-10 Long 14569 14650 81
    2-Jun-10 Short 14609 14695 -86
    3-Jun-10 Long 14701 14665 -36
    3-Jun-10 Short 14603 14634 -31
    7-Jun-10 Long 14483 14495 12
    8-Jun-10 Long 14509 14491 -18
    8-Jun-10 Short 14415 14475 -60
    9-Jun-10 Long 14456 14680 224
    14-Jun-10 Long 14628 14730 102
    15-Jun-10 Short 14714 14780 -66
    15-Jun-10 Long 14789 14810 21
    16-Jun-10 Short 14774 14820 -46
    16-Jun-10 Long 14836 14750 -86
    16-Jun-10 Short 14745 14745 0
    17-Jun-10 Long 14813 14813 0
    21-Jun-10 Short 14829 14779 50
    22-Jun-10 Long 14802 14817 15
    23-Jun-10 Long 14885 14850 -35
    23-Jun-10 Long 14960 14940 -20
    24-Jun-10 Short 14941 15005 -64
    24-Jun-10 Short 14930 14960 -30
    28-Jun-10 Long 15105 15086 -19
    29-Jun-10 Short 15085 15085 0
    29-Jun-10 Long 15080 15043 -37
    30-Jun-10 Short 15036 14960 76
    1-Jul-10 Long 14975 15152 177

    June Profit/Loss = +67 pips

    With an average Stop loss of around 90 pips and 2% risk per trade, June Profit/Loss = +1.5%.

    ReviewTeam

    05-Jul-2010

    As part of our bi-annual review of our Systems/Services We Use list we have made only one change.

    We have become a little frustrated with Sniper Forex during the last few months. We accepted the fact, from the beginning, that we never got the same results as the vendor and the fact that rarely did we get the same results as anyone else. Performance was most reasonable regardless of whose trades we matched/didn’t match.

    However, we were extremely disappointed that in May, a month in which GBPUSD trended nicely and moved over 1,000 pips, Sniper Forex failed to make a profit (for us). A trend following system, which this is should be taking big advantage of these rare occurrences. And, although we made a small profit this month, over the last 3 months we are still down 10% of our account.

    For the above reasons and also with a view to reduce our time allocated to actual trading on behalf of Systems For Traders we have decided to remove Sniper Forex from our “Systems We Use” list. We just do not believe that our 15 minute or so actual involvement each day (over an 18 hour period) trading this system justifies the returns (or lack of).

    digital_soul18

    06-Jul-2010

    Bravo, now I don’t feel like an idiot for ditching Sniper a few months ago too! I’m still annoyed I paid so much for it too!

    Thanks for the review guys. Its great to have you guys because I pretend you guys are me trading so it saves me the time + effort and its great that you guys provide the level of detail of trades that you do which is so important. I look intently to your other reviews.


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