Sling Shot 30 M Forex System

[GTA]

Hi friends,

 

I just found it at hxxp://www.forex-auto-scalper.com/slingshot.html

by : Martin Alexander's

 

Regards,

 

:peace:

[iqofgenius]

Even though this post is over 3 years old, the system has some merit to it and is certainly low risk. Seems to work well in ranging markets better than trending.

[nht]

Both YouTube videos may be downloaded in higher resolution (640x480) here:

 

forex-auto-scalper.com/slingshot-dl.html

 

You know this stuff is slightly dated, when he calls 13 MB and 15 MB files "large"... ; )

 

Over at Forex Factory, many people have put a lot of time and effort into trying to make the Slingshot system work... creating and testing multiple EAs, scripts, alerts for manual trading, filters, timeframes, modifications to entry, SL and TP, etc.

 

The original system did not perform well in backtesting and forward testing. Of course, that was back in early 2009, when typical retail spreads on the majors and JPY crosses were higher than today. BUT volatility / noise on sub-M30 timeframes is much greater today, which more than offsets lower spreads and quickly kills almost any system with a combination of 1) such tight, often single-digit stops and 2) non-scalping, not fixed TP, not PA-driven, strictly time-based exit.

 

It looks like each of the two offshoot / successor threads also died out within a month or two of its inception.

 

Although I love playing with and adapting simple systems, this one is likely too simple to be viable in its raw, unfiltered state, as presented by Martin Alexander.

 

If anyone is interested, the FF threads are:

 

forexfactory.com/showthread.php?t=143819 (Slingshot-30 Min. PA System, 391 posts)

 

forexfactory.com/showthread.php?t=146063 (Slingshot 30M & 1H - The 2nd Coming......, 1336 posts)

 

forexfactory.com/showthread.php?t=158969 (Slope Trend EA Thread......, 254 posts)

Edited July 31, 2012 by nht