Hey, it's John Foster. Here I will continue telling you about most profitable forex trading strategies. Today I am describing the unique one - "Sniper". It doesn't have any analogs on the whole Net.
Firstly, this algorithm teaching was paid, however, outstanding profitability always took money back with surplus. More and more apprentices were applying for this course, information was becoming more acceptable and approachable. Articles about this strategy appeared on popular forex resources, along with YouTube videos. One of them you can watch below.
1.About the Author!
2.Which Timeframe to Choose?
3.The Safe Rule!
4.Market Analyzing in Sniper Strategy!
5.How to Use Sniper Trading Strategy?
6.How Can a Novice Earn with Sniper Strategy?
7.How to Boost Your Deposit?
8.Some Points of the Strategy!
10.Finishing! Brokers' Rating!
After several months from such rush, Sniper trading strategy has become free-for-studying for everybody. But - there was a shade - it was a professional strategy, that's why not every single trader could correctly use that.
Today, there is plenty of information about Sniper strategy on the Net. But rarely an article or video describes it clearly and competently.
I'd love to provide traders with the full step-by-step instruction with illustrative pictures. Having this material read to the end, you will be able to use the Sniper strategy and earn, even if you're a novice.
Surely, you won't get the maximal profit at once, nevertheless, the main laws will be understood.
Pavel Dmitriev, the author of the Sniper trading strategy, is absolutely worth respect. We can't say whether he is a genius, or a hard-working man, or both but he's done very much to create his own strategy. His way was for good 10 years, working hired by brokers to get their secrets. As the result, he's succeeded in developing his own trading strategy able to gain profits more than 100% of the original deposit.
Most newbies try to change strategy's rules, sizes of StopLosses and TakeProfits. They don't even get that every digit has several wasted deposits standing for it. When you start trading with Sniper, you will realize that once pip price rebounds from the support or resistance level, the chart turns when TakeProfits snaps into action. These are not random cases but frequent. Get stuck to instructions, do not try to add something. Sniper is not a changeable strategy just because it's 100% worked out. If someone could improve it, that would be the author himself.
Moreover, Sniper is a non-indicator strategy. Pavel Dmitriev is sure indicators are not profitable, their signals are always late and copy the chart. It's quite true, though my experience proves some indicators are fair. Nevertheless, Sniper strategy is incompatible with any indicator - do not even try to use them while trading. The only strategy where non-indicator means and those with indicator can work together is the "Merger" system.
Sniper is the scalping strategy, so we'll trade within the day, close orders in the evening, without leaving them for the night. The main timeframe will me M1 or M5 chart. I recommend the second one because its signals are clearer and most false entrances are bolted out. Though, if you doubt about a single M5 signal - check for the same one in M1. Along with the main one, there will be an additional timeframe, where we'll define strong support and resistance levels. H1 chart is the best for it.
This rule is the essential part of Sniper trading strategy - it cannot be so accurate and profitable without this very rule. It is:
One a buy/sell signal appears, enter the market with two orders. Do not break money-management rules and do not engage more than 10% of your deposit. So, if your usual order is 1 lot, place two orders 0.5 lot each.
First order's TakeProfit must be at 15 points, and the second's - on the nearest Total Impulse Level or Abrupt Price Change Level (to be described below). Thus, with 95% chance the price will come through 15 points and close the first oder in profit. Even if it turns and breaks the StopLoss of the second order - we won't lose anything because of first one's profits.
Use the Safe Rule - and you'll never waste a half of the deposit, losses will be insignificant. This rule can be used not only in Sniper strategy but in another trading systems as well. If you read my previous article, you probably understand what I am talking about. Two orders entrance is used at least within the half of strategies described at this site. Firstly, this rule lets you insure risks from sudden market turnover, secondly, - to gain maximal profit without overtiming. Some signals in Sniper strategy give 15-20 pips, others - more than 100.
Before giving the algorithm, I will tell you about market analyzing methods not to waste time later. Learn them thoroughly and if possible – open the terminal and try to find them for better memorization.
In fact, any trend contains such ILs, so it's handy to use them for the analysis. In downtrend, all impulses cone down, in uptrend - up. If, for example, there was a bull trend (uptrend), but you marked bear IL - trend change is coming. Changes usually occur at one IL - then they're called turning. You can see one in the picture above.
Step 1! First of all, open H1 chart and find some TILs closest to original price. Drawing BL and APCL, if possible to find them.
Step 2! Open M1 or M5 timeframe, defining the trend. We will trade only with trend change, so if price goes up - look for a signal to sell.
Step 3! Watching the chart and drawing ILs. All of them must be in the line of the trend. If IL opposite to trend appears - it's the signal for a new trend entrance. There are 2 kinds of entrance signals:
* The price comes to TIL, gives the false break (like in the picture below) or just rebounds from it. At that, an entrance signal is new IL opposite to the trend. You should open the order when the price is fixed at IL, but not right after the impulse.
* No TIL nearby, but there is turning IL (like in the picture below). At that, entrance is at the moment of price fixing at the first IL opposite to the trend.
If there's no TIL nearby, but you see new IL opposite to the trend (not turning) - do not enter, because it can be a false signal.
Sometimes the long-term trend correction can create IL, but it will never create turning IL, because you can enter the market at the second one.
Step 4! Entering the market according to the Safe Rule, with two orders. StopLoss for both should be placed beyond the max pip of the old trend for sell, and beyond the min point - for buy. TakeProfit for the first order should be placed at 15 pips from the opened position. For the second one, TakeProfit is optional if you will boost the deposit. If not - place it at the nearest TIL, BL or APCL.
Step 5! While the order is opened, you must always watch ILs. Once you notice new IL opposite to the trend you've entered, close all orders and look for a new signal to the entrance.
This algorithm can be quite unclear for a novice. If it is, trade with Consolidation Zones only. Thus, you'll have several entrances during the month, but nevertheless get 25-30%.
Step 1! Open the chart at the main timeframe at 5-6 AM GMT and look for CZ. Usually, such situations occur 2-3 times per month, so you will find nothing in most cases. CZ, as you already know, is a flat with 18 pips of width during the Pacific Session. To increase profits, you can trade with several rates, but never more than 3, otherwise you'll get entangled in signals.
Step 2! Once CZ is detected, limit it at the chart with a rectangle, just like at the picture (Insert - Figures - Rectangle) and wait until one of sides will be broken with an impulse of more than 4 points.
Step 3! Enter the market when the price is fixed for a short flat at the broken limit of CZ (check it out in the picture). Like in the previous case, you should open two orders. StopLosses for them must be placed beyond the opposite side of CZ from the broken one.
Step 4! TakeProfit for the first order is 15 pips, for the second - due to the nearest TIL, BL or APCL. For experienced traders, TakeProfit for the second order is optional. They can leave the market with the opposite signal. Actually, when CZ appears, price can get stuck to one direction for a whole day, without trend change. Thus, youcanearnmorethan 100 pips.
Boosting - is the main feature of Sniper trading strategy, though, its appliance is optional. With the boost, a trader can earn 2-3 times more than with standard trading rules.
What we got to do?
We also can use boosting when new IL opposite to the trend appears (not always turning). Only experienced traders can use boosting, because it is by far more difficult than standard trading rules of Sniper strategy.
Nevertheless, because of boosts, you can earn 200% of your deposit per month.
We don't trade with news replacing StopLosses to breakevens when they emerge. You can find the important news schedule at the "Economical Calendar".
Once the price activates first order's TakeProfit, replace the second one to the breakeven. Sometimes maximal and minimal levels of the previous day play TIL's role. They must be deployed every morning, just like BLs. You also can boost from these levels.
You'd better trade with dividers - vertical dotted lines splitting trading days.
You could see them at pictures of this article. To insert them to the chart, use Ctrl+Y.
CZ usually starts at the end of the previous trading day (beyond the divider).
I was trading with Sniper strategy for 3 months . I didn't used boosts in the first month and could earn 55% of original deposit. Use boosts in the second month and gained 110%. Stopped closing news orders replacing them to the breakeven in the third month - succeeded in earning 135%.
All in all, I am pleased by the strategy, but it's quite tough especially for newbies. If not sure about your experience and stressed while trading - start with CZs. After that, in a couple of months, you'll be able to easily apply boosts. Confidence and experience at forex comes really fast - the main thing is to save your deposit form wasting. And the strategy and the Safe Rule can help you with that.
As for the conclusion, I'd love to mention that Sniper trading strategy requires 4 hours a day in the terminal, and sometimes - even more. If you want softer trading, work with long-term strategies like those described in the article "Day-Charts Trading". For hard-workers - Lazy Trader strategy, requiring half hour a week. These algorithms give less money than Sniper but take less time and efforts. Sniper's profitability per month: with ordinary rules: 50-100% ; CZ only: 25-30% ; using boosts: up to 200%
Signals accuracy: CZ: 9/10; trend change with IL: 8/10; bounce from APCL or BL: 7.5/10
Gain profits and get lucky!
Best Regards, John Foster.
for binary options