Forex Trading System 1
SlingShot - Mechanical Trading System
Main focus:
- 30 min bar chart
- no indicators used, only price action.
- EUR/USD, GBP/USD, USD/CHF and USD/JPY
- trading hours: 7:00am GMT to 08:00pm GMT
- entries, stops and exits are found with the help of bar close and High/Low values.
Trading tips:
1. You can trade it on 1 hour up to daily charts, but do not attempt trading it on a smaller than 30 min chart, it simply will not make enough wins.
2. Focus on forward testing rather than backtesting - remember, when looking at historical prices, you can not see the sequence in which the price moves on each bar, which will make such testing irrelevant.
3. For the same reason do not try to backtest it with an Expert Advisor.
4. Sticking to a manual trading is preferred. When you use an Expert, it takes every single trade that is out there, but not necessary the trade you would pick if trading manually. The day, time
and other factors may come to play to influence your decision.
5. When using a higher time frame, consider increasing the minimum pip requirement for a candle length.
Risk Disclosure: FX Trading Online will not accept any liability for loss or damage as a result of reliance on the information contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets. Currency trading on margin involves high risk and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.