My Profitable Sniper Forex Trading System

I've been experimenting with Sniper Forex Trading System for some time and recently, i came up with a reliable way of using it that have been quite profitable for me.

Firstly, here are the components of my trading method

1. Support and Resistance Levels or Zones

2. Trend Determination and market sentiment ( I use sniper forex for this one)

3. Momentum (probability meter)

Next, I will talk about the theories behind my methods.

1. Buy at Support in an Up Trend and Sell at Resistance in a Down Trend.

For a valid Buy signal with the sniper forex system using the 15 mins time frame,

A. Draw your support and resistance lines using the 15 mins chart of your chosen currency pair

B. Wait for all 3 sniper lines plus at least one of either sniper trend A and B to turn blue.

C. You will notice that by the time all sniper lines have turned blue, price would have started moving upwards, don't enter yet. wait for price to pull back to the nearest support level or support zone on your 15 mins chart. When this happens, you will notice that one of sniper trend A or B will turn red. This should not bother you as long as it is just one of them. As price approaches the nearest support line/zone, quickly place a buy order, you can also use a buy limit order. Place your stop loss at least 35 pips behind the nearest support. This gives you a very high probability entry and also helps you protect your stoploss with a support level acting as a shield. Never use buy stop or sell stop order as this will amount to you chasing price action which almost always results in your stop loss being hit. Once Price is 15 pips in your favor, move your stoploss to break even you can use a 15 pip trailing stop if you like.

D. Before I talk about take profit targets, let me say this, I use 2 sets of support and resistance levels.

The first one is plotted for me automatically by an auto pivot calculator that shows R3 - S3 and also shows mid pivots.
The second one is Support and Resistance level identified by myself as price moves and then retraces.

I use these supports that I personally identify to place buy orders once the sniper forex indicators are all blue in color. I only place buy orders if sniper indicators are blue and no sell orders at all and vice versa because I want to be at the correct side of market sentiment in case of sudden parabolic price movements.

I also use these personally identified Resistance levels to place Sell orders only, once all the sniper forex
indicators turn red.

E. Take profit targets.

I use the support and resistance levels generated for me automatically by my auto pivot calculator for my profit targets.

F. Momentum

Sometimes price action becomes so volatile that it starts moving with a lot of momentum. When this happens, we experience what is known as parabolic price movements. ie when price moves up or down in almost long straight lines. This phenomenon is easily seen on the probability meter which in my opinion is the most powerful momentum indicator in existence. Once the probability meter show 90% - 100% probability, no support or resistance level can prevent price from moving where it is headed.

If you are already in a trade that is the same direction with the sniper forex indicators, and all of a sudden, the probability meter starts showing over 90% sell or buy probability, simply remove your take profit target and use a 15 pip trailing stop to trail your order. if you get stopped out, wait for price action pull back or retrace to a support or resistance level before re-entering the market in the direction of all sniper forex indicators. Don't ever forget to put a 35 pip stop loss.

For better trades make sure that there is at least 50 pips between you entry and the nearest take profit level so as to ensure at least 1:1.5 risk reward ratio.

Never risk more that 3.5% of your whole capital on one single trade. eg If you have $100, use 0.01 volume
and use 35 pips stoploss. Target at least 50 pips.

If you get stopped out, you lose 35 pips or $3.50 If you win, you will gain 50 pips or $5.00

The most common problems I have encountered with the Sniper Forex is this, Too much reliance on the Sniper forex indicators can be deceiving sometimes, especially near S3 and R3 levels and other trend reversal points. I simply look out for double tops or bottoms, 123 tops or bottom and also head and shoulders and inverse head and shoulders especially after a lengthy daily price movement to asist me in spotting trend reversals. Also I look at the 4 hour chart to spot overall price direction.