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100+ Pips Sniper Specialists -> Lets Collectively Roll

  • #21
  • Jul 16, 2013 1:08pm Jul 16, 2013 1:08pm
Hi ForexSaint,

Nice idea, You have almost covered most of the part in your first post. We will come to know other aspects only when the thread is fully active and moved to interactive thread. The major problem one might think of is filtering the calls and followups. What if 2 members give 2 different opinion on a single pair. which one to consider? Like you said, if the collective bias on the polls is short on EURUSD you can ask members to only post short setups with some exceptions may be.

A ranking system can also be implemented for the posters. A track record like, hit rates, pips won, drawdown, etc., on the first page may be a good idea, so that the new comers can easily identify the integrity of the members who post his setups, and take the calls with little confidence. I am willing to volunteer for any clerical work for compiling the datas.

Regards.
Weigh well output the loss and gain And proper action ascertain
  • #22
  • Jul 19, 2013 9:02am Jul 19, 2013 9:02am
Quoting usasa
Hi ForexSaint, Nice idea, You have almost covered most of the part in your first post. We will come to know other aspects only when the thread is fully active and moved to interactive thread. The major problem one might think of is filtering the calls and followups. What if 2 members give 2 different opinion on a single pair. which one to consider? Like you said, if the collective bias on the polls is short on EURUSD you can ask members to only post short setups with some exceptions may be. A ranking system can also be implemented for the posters....
Thanks for the input
I am less inclined to move it to interactive section given too much noise/babbling there. Lets c
Regarding calls and followups, it wont be a plain call thread for sure. Yes a group of traders (which i am still not able to make out how to select those from all those posting) would be posting their views on the pair being discussed (we can set topic based on pairs/instruments, which are prolly consolidating, anticipating moves and ask others to post)

The issue i ignored a bit is traders have been using a wide variety of stuff , like indi's (free or proprietary), etc. So when a contributing trader (whose view is a part) posts his/her view with such indi's , which others dont know the working of (i.e basis, like says Pivots depict averaging based on OHLC etc), it would be difficult to assimilate stuff or form opinion.
This is the same issue which creates problems in interactive trading of a chat room (which has no leader/guide) Of course i don't want to be final say here assimilating a BIAS in a instrument being discussed.
I want it more to kind of automatic stuff where contributors can post their views , directional bias (Bullish, Bearish, Flat), Single Support and Resistance Level or turning levels or level/s or trade they are looking/waiting for.

Not really a ranking system but may be a filter for how to select the contributors.
May be after a contributor posts one(or 2 or 3 , etc) Superb R:R trade with fixed stops and targets and it plays out as expected
Track record thing is interesting. Yes i thought about it too. That will help considering the view of a contributor as more important than others who are low on track record.
But all this work is a difficult and time consuming stuff. I already have 1 thread where i have post weekly updates (since 2-2 years i have been doing that).
Not sure how will i manage this.

When you say volunteering, how u gonna do that? Yu mean you gonn be the clerical officer over here
Even if possible, i think online publicly available document is the only way.
Havn't thought much. Didn't get any time and have an health issue too lately
lets C


P.S.
What i dont want this thread to become is a "CALL THREAD" where new traders come hovering to for free 100+pip calls (sounds good i know)
I know this is a public thread and anyone can view but newbies not wanting to learn and looking for calls is a serious NO. If above things work out, probably the final BIAS sheet/document (made on the basis of contributors) should be made private and posted after the setup gets over.
Long story looks like. will see.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #23
  • Edited 5:18am Aug 6, 2013 4:55am | Edited 5:18am
@usausa
No replies?
Looks like our accountant finds that this is too much, to handle

Here is an another PERFECT SNIPER Example:

GBPUSD
Entry level = 1.5152 (Pre-NFP on Friday)
Post entry lows = 1..5141 (Pre-NFP on Friday)
Swing High of this week = 1.5390 (as till now)
Pip Move= 238 (Pretty clean, Pure PA move till now)
60-70 LONG trades starting from 1.5152, at important demand levels
Drawdown (max)= 11 pips (pre-NFP volatile spike + ~2 pip spread)
R : R = ~ 1 : 21.6

Something we are talking about here, for this thread.

Here is an Trades screenshot (Post Pounding Services PMI(highest since 2006))
Attached Image (click to enlarge)
Click to Enlarge Name: 2013_08_05_GBPUSD_M15_10x_Longs_Post_Services_PMI.JPG Size: 184 KB



- I am still soliciting suggestions for this thread.
- I am sure this will benefit a lot of people (esp. those who are frustrated dealing with too much small TF "noise" moves)
Thanks
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #24
  • Aug 6, 2013 5:19am Aug 6, 2013 5:19am
GBP/JPY entry 150.30 SL@ 151.57
CHF/JPY entry 105.60 SL@ 106.34
AUD/NZD entry 1.1390 SL@ 1.1490
GBP/CHF entry 1.42 SL@ 1.4287

This are the possible set-up I see. At least 100 pips would be easy. I wish to post my chart but I guess its not important due to the fact that I don't have any indicator just pure price action.
Take profit would depend on market momentum and current price action!
I will update my post on what happen in this trade .
"I made money every time you place your Stop loss too close to ME"
  • #25
  • Aug 6, 2013 5:22am Aug 6, 2013 5:22am
Quoting forexsaint
@usausa No replies? Looks like our accountant finds that this is too much, to handle Here is an another PERFECT SNIPER Example: GBPUSD Entry level = 1.5152 (Pre-NFP on Friday) Post entry lows = 1..5141 (Pre-NFP on Friday) Swing High of this week = 1.5390 (as till now) Pip Move= 238 (Pretty clean, Pure PA move till now) 60-70 LONG trades starting from 1.5152, at important demand levels Drawdown (max)= 11 pips (pre-NFP volatile spike + ~2 pip spread) R : R = ~ 1 : 21.6 Something we are talking about here, for this thread. Here is an Trades screenshot...
Beautfiul, trading like a pro
Be hopeful in a winning position, and fearful in a losing position.
  • #26
  • Aug 6, 2013 6:04am Aug 6, 2013 6:04am
Quoting Masterm1nd
GBP/JPY entry 150.30 SL@ 151.57 CHF/JPY entry 105.60 SL@ 106.34 AUD/NZD entry 1.1390 SL@ 1.1490 GBP/CHF entry 1.42 SL@ 1.4287 This are the possible set-up I see. At least 100 pips would be easy. I wish to post my chart but I guess its not important due to the fact that I don't have any indicator just pure price action. Take profit would depend on market momentum and current price action! I will update my post on what happen in this trade .

I am with you on gbp/jpy sell at 150.68 TP 149.75 SL 151.57. Lets coordinate.
  • #27
  • Aug 6, 2013 6:06am Aug 6, 2013 6:06am
Quoting forexsaint
@usausa No replies? Looks like our accountant finds that this is too much, to handle Here is an another PERFECT SNIPER Example: GBPUSD Entry level = 1.5152 (Pre-NFP on Friday) Post entry lows = 1..5141 (Pre-NFP on Friday) Swing High of this week = 1.5390 (as till now) Pip Move= 238 (Pretty clean, Pure PA move till now) 60-70 LONG trades starting from 1.5152, at important demand levels Drawdown (max)= 11 pips (pre-NFP volatile spike + ~2 pip spread) R : R = ~ 1 : 21.6 Something we are talking about here, for this thread. Here is an Trades screenshot...

I am with you, loking forward to copy your trades on my live account. Lets make some mullah! LOL
  • #28
  • Aug 6, 2013 6:25am Aug 6, 2013 6:25am
I bought GBPDKK at 8.50 in 01.08.2013 because there is strong support (the bottom of a channel started from 01.2009) SL is 8.44 TP is 9.20 R:R=1:10. Here is screenshot of entry:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpdkkdaily.png Size: 33 KB
BE calm and keep waiting..
  • #29
  • Aug 6, 2013 7:24am Aug 6, 2013 7:24am
Great thread. Thank you.
  • #30
  • Aug 6, 2013 8:05am Aug 6, 2013 8:05am
Pending short GBP---sell@ 1.5256--for 150 pips--sl 1.5286. This trade based on h4 chart and price closing below the 50 and 100 ema. The target is the last h4 swing low.
  • #31
  • Aug 6, 2013 10:05pm Aug 6, 2013 10:05pm
hi forexsaint,
not sure if this would count as suggestions:
mayb you could explain alittle on how u determine the bias for a direction?
how do u make ur entries?
do u enter based on supply/demand zones?

sorry if im asking the wrong questions.
thanks!
  • #32
  • Aug 6, 2013 10:09pm Aug 6, 2013 10:09pm
A little contribution from me:

USDJPY short 97.74.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 59 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #33
  • Aug 7, 2013 12:18am Aug 7, 2013 12:18am
I took the USDJPY as well, for just about 60 pips. Could've been more had i just stayed patience. Loving this thread btw. I really like traders that chase big profits. Will check back often
  • #34
  • Aug 7, 2013 1:39am Aug 7, 2013 1:39am
Quoting TheZenTrader
I took the USDJPY as well, for just about 60 pips. Could've been more had i just stayed patience. Loving this thread btw. I really like traders that chase big profits. Will check back often
It was a good place to short, but unfortunately I missed it, as posted here. The post above was actually a PO, to wait for price to retest that level, and short from there.


Hope it's clear.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #35
  • Edited 3:19am Aug 9, 2013 2:39am | Edited 3:19am
hey.....GUYS
STOP.

Giving so many SPECIAL SIGNALS for Free?
READ. This is not a plain "CALLS" THREAD

I have been asking for suggestions since weeks & barring 1-2 guys all came here with more or less "plain trading calls"

Would be thankful if you do the former.

Quoting behman8850
{quote} I am with you, loking forward to copy your trades on my live account. Lets make some mullah! LOL
READ again, what this thread is about. Another such post and you are going to my privileged ignore list.
Providing calls here to get copied is not our purpose.

Quoting akosh
I bought GBPDKK at 8.50 in 01.08.2013 because there is strong support (the bottom of a channel started from 01.2009) SL is 8.44 TP is 9.20 R:R=1:10. Here is screenshot of entry:{image}
Nice entry. (exotic pair though) Do update it later.

Quoting david1234
hi forexsaint, not sure if this would count as suggestions: mayb you could explain alittle on how u determine the bias for a direction? how do u make ur entries? do u enter based on supply/demand zones? sorry if im asking the wrong questions. thanks!
Yes. Wrong Questions. Not for this thread
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #36
  • Aug 9, 2013 2:50am Aug 9, 2013 2:50am
So you basically go for huge runners, with very tight stop losses?
And you increase the risk reward by going for an "all or nothing" approach, and pyramid the original entry therefore increasing reward while risk is maintained the same (as you will still be above break even despite increasing your cost basis)

In this way, you can make your risk reward over 1:100 at some times?

Example

10:1 leverage at 1.30 in euro with a stop loss 1.2980 and a target of 1.33. So initial "sniper" risk is 2% of account with a target of 30%.
20:1 leverage at 1.31, so cost basis is 1.3050.
40:1 leverage at 1.32 so cost basis is 1.3125.

Then it moves up to 1.33 and you take profit. So that is 175 pips with 40:1 leverage (700pips) vs 300 pips at 10:1 (300pips). So by pyramiding as in this example you are more than doubling the reward while maintaining the same risk --- positive carry.

The only thing is you have to pyramid your entries with the right timing, otherwise they could dip to your BE cost basis which can be quite unnerving.


With any high RR trade (or simply any tight stop loss) timing of entry is the most important aspect
Be hopeful in a winning position, and fearful in a losing position.
  • #37
  • Edited 3:12am Aug 9, 2013 2:54am | Edited 3:12am
Quoting Rag2RichesFX
So you basically go for huge runners, with very tight stop losses? And you increase the risk reward by going for an "all or nothing" approach, and pyramid the original entry therefore increasing reward while risk is maintained the same (as you will still be above break even despite increasing your cost basis) In this way, you can make your risk reward over 1:100 at some times?
What the ......
Rags2RichesFx, u r such a old member here. Did you actually read the first post? Not expected
This thread is NOT about MY way of trading.



P.S. Sniper Setups simply mean taking trades with least drawdown (perfecting entries and precision in price reversal LVL's) therefore the high R:R setups, with least target being 100 pips (for this thread)
It has nothing to do with multiple entries and stuff
In all the examples i mentioned, nowhere i took cumulative pips of all trade entries in one direction to calculate R:R (else the R:R must have been in 1:1000's )

So dont confuse things
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #38
  • Aug 9, 2013 3:26am Aug 9, 2013 3:26am
Hi fellas...
Please excuse if this doesn't quite fit in to the thread. Pending short set, in case of a rebound. This isn't exactly sniper per se, but on the break of the low (and trigger of the sell stop) should see it push down quickly – so the Low DD & 100pips+ TP apply. Less sniping, more setting a trap in this trade i'm afraid. It may not trigger, but if it does i'm confident in a decent move south. Otherwise, i suppose an entry for long could be placed around the area of my SL.
Time will tell.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2013-08-09 at 6.23.42 PM.png Size: 43 KB
  • #39
  • Aug 9, 2013 4:24am Aug 9, 2013 4:24am
Quoting Masterm1nd
GBP/JPY entry 150.30 SL@ 151.57 CHF/JPY entry 105.60 SL@ 106.34 AUD/NZD entry 1.1390 SL@ 1.1490 GBP/CHF entry 1.42 SL@ 1.4287 This are the possible set-up I see. At least 100 pips would be easy. I wish to post my chart but I guess its not important due to the fact that I don't have any indicator just pure price action. Take profit would depend on market momentum and current price action! I will update my post on what happen in this trade .

GBP/JPY = 110pips
CHF/JPY=82pips
AUD/NZD= 31pips
GBP/CHF= -105pips....I stay with the trade until the new BOJ Carney spoke and that'what happen .
"I made money every time you place your Stop loss too close to ME"
  • #40
  • Aug 9, 2013 6:05am Aug 9, 2013 6:05am
Quoting forexsaint
@usausa No replies? Looks like our accountant finds that this is too much, to handle
Please accept my apology for the late reply, the fact is that I totally forgot this.

Now it seems that the setups of the contributors will be known to public only after they reach the TP or SL. (Pl. correct me if I am wrong) In that case, what are we really trying to get out of this thread. Who are the people will be known the setup in advance. How and where will the contributors post their setups. It looks more complicated now.
Weigh well output the loss and gain And proper action ascertain
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