Gary Pavkovich Sniper Forex Review
Please note, we used this system for well over 6 months
, recorded and reported all our results. Therefore, this review is not the same as others you will find. We do not simply re-print marketing nonsense from a vendors website nor do we cut and paste affiliation sales copy. Our reviews are produced by traders with experience that have actually traded the system, for over 6 months in this instance.
Overview
As stated on the website, Sniper Forex is a product which "uses a precision algorithm to provide precise entry and exit points". The purchase price is USD 97 - USD 297 depending on the license agreement.
There is a two week demo option on offer for those wishing to try before you buy.
Gary's back-ground, "a veteran trader of ten years", "learnt from the school of hard knocks" who is now "offering you the opportunity to benefit from my hard work". Gary has also "took all the courses, bought all the systems, traded demo then live, wiped out a few accounts and experimented ad nauseam".
This system comes with "an arrow telling you when to buy and when to sell - Simplicity in itself" and "over the past 5 years it has proven to be highly accurate, especially when allied to the best time frame, currency and time of day". Historically the system claims more winners than losers (2:1) with the winning trades being almost 3 times larger than the losing trades.
Results are provided on the website in the form of a graph showing month by month performance for Cable on a 60 minute time-frame going back to 2004. This is the market and time-frame we traded during 06:00 and 22:00 GMT, as recommended.
Please note: A Meta Trader 4 (MT4) account is required to operate Sniper Forex to accommodate its custom indicators.
The strategy
The manual is well documented and provides comprehensive instructions on how to configure your MT4 platform. In addition, there is instruction on how to configure the useful email alert function which is also quite a straight forward process.
Entry, Stop and Exit rules are wholly reliant on the custom indicators which are in effect:
- Two histograms
- Three Moving average type lines (on the price chart)
- An Entry (arrow) indicator
- A Stop level indicator
To trade this strategy you do have to be around and available to respond to the (email/audible MT4) Entry alerts, which can occur at any moment in time. With experience you do get a feel for when this may happen and time commitment reduces noticeably.
In addition to the Entry alert, there are also a number of discretionary aspects applicable to actual Trade entry, e.G. Imminent news, re-entry after volatility, missed overnight opportunities, etc. It is rarely a Simple case of, get an alert, enter your trade and walk away.
When a trade is open it is also necessary to be around every hour to adjust trailing stops as required. This entails being able to access a PC during the hours of 06:00 and 22:00 GMT assuming you wish to trade Sniper Forex during the recommended time-frame and according to the rules.
Does It Work
Pro's
- 95% mechanical, some discretionary rules, as touched on previously, are applicable.
- Was profitable to begin with (but not consistently enough for a longer term commitment).
- Unstressful, nowhere near as time consuming as we thought it would be assuming you use the (email/audible MT4) Entry alerts.
Con's
- Needs a lot of attention, not necessarily a lot of time at the screen, however you do have to be available to react to those (email/audible MT4) Entry alerts from 06:00 - 22:00 GMT.
- Overnight trades have to be left with the 22:00 trailing Stop until the following day.
- opportunities that trigger overnight are sometimes missed (but there are very few of these as it's typically a quiet period for Cable).
- Due to volatility a lot of good trends can be missed, e.G. A 1,000 pip move in GBPUSD during May 2010 yielded no return.
- We didn't achieve the 2:1 win/lose ratio and it was rare that a winning trade was 3 times larger than the average losing trade.
Do remember, we value your comments, if you have any feedback in relation to this system we would love to hear it.
Gary Pavkovich Sniper Forex Review
By: Tatiana
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