Jupas Sniper Forex Trading system For MT4
The Jupas Sniper Forex Trading system For MT4 is a rather technically cluttered trading system. It includes multiple instances of Bollinger bands as well as the non-lag MA indicator as well. At the end of the it all, the price chart certainly looks a lot cluttered.
Still, some traders might prefer to use such a trading system. To begin with, there are quite a few technical indicators that one needs to load up. However, thankfully, this can be done by saving them into a template. The Jupas sniper trading system comes with a ready to use template which automatically loads all the indicators that are needed for this trading system.
Bear in mind that given the large number of technical indicators used in this trading system, it might slow down the performance of your MT4 trading system. Traders should be especially careful, if they are using the Jupas sniper strategy alongside any other EA’s or other indicator heavy trading systems.
The Jupas trading system allows the trader to capture the trends and gives an opportunity for traders to be able to take precision based entries within this trading system. If you spend enough time trading with the Jupas trading system you might be able to make consistent profits over time.
However, it is highly recommended that you first practice on a demo account using this trading system before switching to a real trading environment.
The Jupas sniper – Long positions
Because of the number of indicators involved, traders need to pay attention to all of them. For the long positions, you need to first make sure that two instances of the MACD indicator of the same color, which is green. Alternately, look for both the indicators to move up from below the zero line.
Following this, wait for the trend indicator to also show green. Once all these conditions are met, then look to the price chart. Here, you should wait for the non-lag moving average indicator to also turn green. Price should ideally be trading above this indicator.
If you look close enough, you should also see both the non-lag moving averages making a bullish cross. Only after all these conditions are met, can you take a long position. Wait for the candlestick to close above the moving averages.
Then wait for the open of the next candlestick and then go long. Set your stops near the recent low that formed below the moving average. Once this is set up, the next step is to use the intraday pivot points that are on the chart.
You can set your position in such a way that it automatically closes out some of the positions you have. Make sure to cover your stop loss to break even in order not to leave any further risk on the table. There are times when price action can retrace back. Therefore it is important to keep a close eye on your positions using the Jupas trading system.
You can also alternately ensure that you set a fixed risk to reward set up for your take profits. While there is a good chance that this might not always be the case, it will help you to make consistent profits over time.
The Jupas sniper – Short positions
Taking short positions using the Jupas trading system is also quite similar to the long positions. You will need to wait for all the conditions to be met in order to go short. So to quickly recap, firstly wait for both the MACDs to show red. Or in some cases, you can also wait for the MACD oscillators to turn below the zero line.
This indicates weakening uptrend. After both the MACD indicators are in sync, the next step is to look for the trend indicator. Obviously, the trend indicator needs to turn red. After the oscillators are all lined up, then look to the price chart.
The price should be ideally just about to trade below the moving averages. It is also ideal if you have both the moving averages making a bearish crossover. Wait for the first candlestick to close bearish below the moving averages and then open a short position on the open of the next candlestick session.
Once your trade is in play, the next step you need to do is to set up your stop losses. For stop losses, place the stops just above the high that formed before your short entry. Set the stop loss a few pips above this high.
For your take profits, you can either set them to any of the intraday pivot levels that you see. Alternately, you can trail your profits until you get stopped out. If you wish, you could also choose to use a fixed risk to reward ratio set up for your stop losses as well.
Is the Jupas sniper strategy good for trading?
As we mentioned early on, the Jupas sniper trading system comes with a lot of indicators. Besides the trend indicators and the two instances of the MACD and moving averages, there is also another trend indicator that is displayed on the chart. All of these indicators combined can therefore make your MT4 trading terminal quite slow in its performance.
Another factor to bear in mind is that the Jupas sniper trading system completely clutters the chart. Therefore, traders who prefer to use clean charts will find this Jupas sniper system a bit annoying. In terms of trading experience, there isn’t much to talk about. At best, the Jupas sniper trading system allows you to make a few profits if you are patient enough to learn how to trade with this trading strategy.
We suggest that after trading with the Jupas trading system, you can then start removing technical indicators that you don’t quite need. For example the price display indicator on the chart takes up a lot of space and isn’t really required.
All said and done, the Jupas trading system is worth giving a try. The trading system is best suited for trading on lower time frames which might be interesting for some traders.
Download the complete system description and the files here: