Firstly, thank you for investing your precious time in this product.

Secondly, please follow the instructions very closely.

(1.) Do NOT try and open the indicators! Download (right click and save as) the .ex4 filesto the
following directory: C:\Program Files\MetaTrader 4\experts\indicators, where Metatrader
is the name of the Company through which you have arranged the demo account. So if your
account is with XYZ then the destination folder for the download should probably be
C:\ProgramFiles\XYZ\experts\indicators.
(2.) The following assumes that you do NOT already have the Metatrader platform on your
computer. If you do skip (3.) & (4.) and proceed directly to (5.)
(3.) Double Click the mt4setup icon and follow the on screen instructions OR go to
http://www.alpari.co.uk/ and download the Metatrader4 setup file.
(4.) Apply for a demo account either at the website or via the software setup program. This is free
and theres no limit to how long you may access the account, as long as you place at least 1 trade
within a 90 day period. Other brokers offer demo accounts that may expire after a certain time,
usually 1 month, to be sure check on the broker website. You can use your account and the
indicators on more than one computer, as long as it is the same account number and password
with the corresponding set of indicators.
(5.) When you have your username and password for the platform, set your charts up as follows:
delete the 4 charts that are probably on your computer screen, then click file, new chart,
GBP/USD and set the timeframe (above the new chart) to 1 hr.
(6.) Click Insert, Indicators, Custom and then clickSniper to attach it to the chart. Do the
same with Sniper Stop, Sniper Trend A andSniper Trend B. SHMA CANNOT be
attached to the chart, it should be left alone once downloaded. You will sometimes get an alert
Checking Account Number (0) www.sniperforex.com if there is a 0 between the brackets
then the indicators are simply logging in, click okay and the alert will go away. If your
account number is between the parentheses then the indicators are not correctly compiled to your
account. This alert will also occur if you move from one account number to the other. To avoid
this use the template system described in (8.) below.
2003 - 2008 GJ Pavkovich
(7.) You should now have a chart with three lines that are sometimes blue and sometimes red, along
with red and blue dots above and below the lines respectively, and alternately red and blue
histogram bars below the chart in two separate windows. The lines are the Sniper Trigger lines.
blue is buy and red is sell. The red and blue bars below the chart help to confirm entry. An
audible alert will usually occur a little before all entry conditions have been met and an e-mail
alert can be set up as well Tools, options, e-mail. Click on Help for guidance on how
to set up your e-mail alerts. See Fig 1 below. The audio and e-mail alerts will normally occur a
little before the actual entry conditions have been met, and then again at the exact time of entry,
along with an arrow, see (9) below.
Fig 1
(8.) Now save a template so you can quickly apply this set up to other charts. Click Charts,
Template, Save Template and give your template a name you can easily refer back to. Now
when you open a new chart, you can go to Charts, Template, Load Template, and double
click on the name of the template you previously saved to instantly apply it to your new chart.
2003 - 2008 GJ Pavkovich
Fig 2. We enter short/sell when all 3 lines turn red, and both histogram bars are red, placing our stop
loss just above the red dot corresponding to the red arrow.
We enter long/buy when all 3 lines turn blue and both histogram bars are blue, placing our stop loss just
below the blue dot corresponding to the blue arrow.
(9.) We ONLY enter a trade short when ALL THREE trigger lines on the 1hr chart change colour
from blue to red and the histograms below the chart are red. This means that if the
histograms are not red at the time of the arrow, but some time later BOTH are red, then
this becomes a valid trade. Vica-versa for long trades. Enter with two lots placing a stop loss
at the valueindicated by the most recent blue dot in a long trade and the most recent red dot in a
short trade(using the rules for money management see (20.) below NB!!NB!!) exit one lot
when your profit target is hit (100 Pips for the 1hr GBP/USD), or your trailing stop is hit, exit
the other lot when the indicator lines change colour. If you are limited to trading one lot then
either consistently trade for a profit target of 100 pips per trade or consistently trade the trend out
until there is a reversal. A signal in the opposite direction is the signal to exit.
Advanced Strategy: If your money management and equity allow, this is another way of
maximizing profits. Say for example you normally trade 1 lot. Break that lot down in to 5 sub
lots of 0.2. Set up theStop Loss and Take Profit for each 0.2 sub lot with the following values:
Sniper Stop 25 Pips
Sniper Stop 50 Pips
Sniper Stop 75 Pips
Sniper Stop 100 Pips
Sniper Stop No Take Profit rides the trend out
2003 - 2008 GJ Pavkovich
(10.) You can modify the settings of theSniper indicator to get more trades and shorter holding
times, or less trades and longer holding times. Right click on the indicator on your chart, then
click properties, inputs then double click the number next toSniper Period. If you
increase this number you will get less potential trades and longer holding times. If you decrease
this number you will get more potential trades and shorter holding times. Suggested values for
the system are between 11-34. Consistent trading over a long period of time has shown 30,
the default setting, to be the most profitable.
(11.) While signals are generated 24/5, the system has been found to be most effective on the 1hr
GBP/USD. It is in your best interests to only trade a currency during the markets within which it
has most relevance, so the GBP/USD should only really be traded during the London and New
York sessions and NOT during the Asian session. The same goes for the EUR/USD, USD/CHF
and the EUR/GBP. Use your common sense to work out during which two markets it is best to
trade your favourite currency.
(12.) In the example above I used the GBP/USD which often has greater profit potential than many of
the other currencies. This is the currency and timeframe I recommend, from 06:00 GMT
until 22:00 GMT. While, for example, the GBP and EUR do tend to move in the same direction
at the same time, which can have advantages and disadvantages, the former will many times
move further than the latter, while only costing on average an extra pip in spread. It is often good
to trade currencies that have no correlation to each other. For more information on this see the
section on Money management in Money Management and Trading Psychology. The
system works on any timeframe, in order to be profitable in the long term, 15 min timeframes
and UPWARDS are suggested, but it is optimized for the 1hr timeframe!
(13.) You can tile as many charts as you want in Mt4 which is useful for trading more than one pair. I
tend to stick to the GBP/USD.
(14.) NEVER trade without a stop. When a trade is moving in your favour move the stop loss as the
red and blue Sniper Stop dots move.
(15.) Cut losses short and let profits run.
(16.) Set yourself a realistic daily profit target, 100 pips should be enough! When that is attained go
and hit some balls/the gym/a neighbour (only joking but if he hits back dont forget to duck!)
(17.) Be very careful around important news release times, no indicator or system can withstand the
kind of volatility that these announcements periodically produce. If you are in profit on a trade
close to a major news release at least move your stop to b/e and be aware that many brokers will
not honour stops under extreme conditions. Otherwise consider cutting your losses, you will live
to fight another day. In this regard go to http://www.forexfactory.com/php and check out the
days economic data before you even consider entering a trade. You can set the page to display
your local time. Please note that mt4 time is usually GMT+1 and cannot be changed.
Announcements with a RED flag can have a dramatic effect on the market and are to be treated
with extreme care, especially Non-Farm Payroll and Interest Rate announcements.
Announcements around Orange flag times bear watching closely if you are in a trade.
(18.) Spread betting is tax free in the UK. I use IG Index amongst others (www.igindex.co.uk ),
where if you have the correct type of account (standard cleared funds), you can trade the
EUR/USD @ 2 pips and the GBP/USD @ 3 pips (in ) which is very competitive and their
deposit/withdrawal procedures are very simple compared to some of the forex brokers. Other
reputable brokers are Cantor Index (http://www.cantorindex.co.uk/index.jsp) and City
Index (http://www.cityindex.co.uk/).
2003 - 2008 GJ Pavkovich
(19.) We are all at different stages in our trading careers, some more experienced, others less so. If I
have missed a step or there is something that needs clarification, please do not hesitate to contact
me at [email protected] or check the faq page out on the website,
http://www.sniperforex.com/forex_trading-faqs.html or use the contact page,
http://www.sniperforex.com/forex_trading-contact.html.
(20.) Take the time to readMoney Management and Trading Psychology (only supplied with
live version) andDay trading mind. Without these guiding principles you are unlikely to
succeed, especially if you are new to forex trading.
(21.) Please note that this system is copyrighted and that unauthorised distribution is illegal. By
purchasing you have entered into a binding agreement that the system is solely for the use of
and by the purchaser.
(22.) Best of luck and may the pips be with you!
(23.) Further chart examples:
Fig 3. In this example we entered long and were stopped out on the following bar. However, a few bars
later all entry conditions had been met and we re-entered, eventually exiting for a healthy profit.
This re-entry was only valid because all entry conditions were still in place AND entry price was
Still close to origional entry price. This is an unusual situation.
2003 - 2008 GJ Pavkovich
Fig 4: When the stop dot is not in place at the time of entry, place your stop just above the last significant
high in a short trade and just below the last significant low in a long trade. When the stop dot moves in to
place move your stop accordingly.
Gary
Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all
or more of your investment therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with
Foreign Exchange trading. This website, SniperForex, G.J. Pavkovich, and anyone associated with it, cannot be held responsible for any losses
incurred. Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors. However, before
deciding to participate in the Foriegn equity market, you should carefully consider your investment objectives, level of experience and risk appetite.
Most importantly, do not invest money you cannot afford to lose.
There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness,
limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair.
More over, the leveraged nature of foreign equity trading means that any market movement will have an equally proportional effect on your deposited
funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to
deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated and you will be
responsible for any resulting losses. To manage exposure, employ risk-reducing strategies such as 'stop-loss' or 'limit' orders.
There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet
connection. This website, SniperForex, G.J. Pavkovich, and anyone associated with it, cannot be held responsible for communication failures or delays
when trading via the Internet.
Any opinions, news, research, analyses, prices, or other information contained on this website are provided as general market commentary, and do not
constitute investment advice. This website, SniperForex, G.J. Pavkovich, and anyone associated is not liable for any loss or damage, including without
limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. We have taken every possible measure
to ensure the accuracy of the information on the website. The content on this website is subject to change at any time without notice.
2003 - 2008 GJ Pavkovich