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Slingshot-30 Min. PA System

  • #61
  • Jan 9, 2009 10:36am Jan 9, 2009 10:36am
Quoting thatwasme
Yes I have watched the video 5 times now and downloaded it as well.

at 6:11 into the part1 he states that the open needs to be near the previous close and the low needs to be penetrated, but he does not say anything about the need for a previous up or down bar. only the trigger is 1 pip above the close of the previous bar and the SL is below the entry low.

You are right.
If you look at 7:16 of video 2, he shows an example of a long following a bull setup bar.
  • #62
  • Jan 9, 2009 10:37am Jan 9, 2009 10:37am
look at the picture in 1st video, it shows a long set up and a short, there different bars
  • #63
  • Jan 9, 2009 10:39am Jan 9, 2009 10:39am
Quoting f4mnect
look at the picture in 1st video, it shows a long set up and a short, there different bars
The rules do not state that.
In video2 he shows a long entry after a positive setup bar.
He may show it more than once.
  • #64
  • Jan 9, 2009 10:40am Jan 9, 2009 10:40am
Quoting billbss
I had two winners and a small loser on that last bar.
Have a winner working on this bar, but it's early.
Hi Bro..."No Indicator System". I like that... Just small question..What about trend direction?...Or we just enter trade when condition meet?...No need to watch trend direction ?..tq
let's make pips
  • #65
  • Jan 9, 2009 10:42am Jan 9, 2009 10:42am
Quoting billbss
The rules do not state that.
In video2 he shows a long entry after a positive setup bar.
He may show it more than once.
Yup here is his screen shot
Attached Image
  • #66
  • Jan 9, 2009 10:45am Jan 9, 2009 10:45am
Quoting kapten_haddo
Hi Bro..."No Indicator System". I like that... Just small question..What about trend direction?...Or we just enter trade when condition meet?...No need to watch trend direction ?..tq
That is correct, according to the rules as I interpret them.
  • #67
  • Jan 9, 2009 10:46am Jan 9, 2009 10:46am
thatwasme,

i stand corrected.....
  • #68
  • Jan 9, 2009 10:50am Jan 9, 2009 10:50am
Quoting hollandpippin
thatwasme,

i stand corrected.....
Well judging from your avatar, the show was worth the price of admission. LOL. No problem.
  • #69
  • Jan 9, 2009 11:19am Jan 9, 2009 11:19am
Quoting billbss
That is correct, according to the rules as I interpret them.
Ok thanks...Will try next week..
let's make pips
  • #70
  • Jan 9, 2009 11:40am Jan 9, 2009 11:40am
Quoting billbss
You are right.
If you look at 7:16 of video 2, he shows an example of a long following a bull setup bar.

Thanks for the heads-up, i totally missed this and as stated only followed the rules as per the 1st video ... will be interesting to see if it is as successful now.
  • #71
  • Jan 9, 2009 12:11pm Jan 9, 2009 12:11pm
Quoting thatwasme
I just added the ability to turn the Price labels off if you want to.

And because people will ask for it. version 4 has alerts when price drops below previous 30 min low or climbs above previous 30 minute high.
Nice work! Has anyone actually backtested this to see under what conditions the best trades are made? I'll take a look at this weekend. From the naked eye it looks like these setups can provide very favorable reward:risk trades. However, this can only be determined by looking at smaller time frame charts to see how many times the price reversed to take out your stop loss after the initial signal.
  • #72
  • Jan 9, 2009 12:32pm Jan 9, 2009 12:32pm
16 pips on the last eu trade sold @ 1.3474 and ended at 1.3456
  • #73
  • Jan 9, 2009 12:41pm Jan 9, 2009 12:41pm
Good Afternoon Bill,

Haven't visited with you for awhile, so I was very pleased to see you authoring this thread. If this trading method has caught your attention then it HAS to have some merit. I realize that it's still very early in the process, but your enthusiasm is contagious. I will further acquaint myself with the startegy over the weekend, and start trading this on a micro account after the weekend. If there is anything I can help you with in your development of this trading method, please PM me.

Folks, if you are not familiar with Bill, he is definitely one of the most astute forex traders extant. We are fortunate to have him in our midst!
  • #74
  • Jan 9, 2009 12:44pm Jan 9, 2009 12:44pm
Quoting thatwasme
I just added the ability to turn the Price labels off if you want to.

And because people will ask for it. version 4 has alerts when price drops below previous 30 min low or climbs above previous 30 minute high.
thanks, nice work
  • #75
  • Jan 9, 2009 12:54pm Jan 9, 2009 12:54pm
Quoting Bobcat2
Good Afternoon Bill,

Haven't visited with you for awhile, so I was very pleased to see you authoring this thread. If this trading method has caught your attention then it HAS to have some merit....

Bob,
Thank you very much for the kind words.
I'm not sure I'm worthy of them, but thank you

This needs a good backtest.
My wife is a little under the weather, but if I have time I'll try to go back at least 30 trades per pair, this weekend. That should give us an idea if it's worth pursuing.

I want to emphasize again, this is not my system. I have not contributed anything to it. Martin Alexander is the author. I want to make sure the credit goes to where it belongs.

I tried it yesterday morning, had several winning trades, and thought I would share it. It also made money this morning.

If I can get the backtesting done, I will post the results here.
I think a few more folks are doing the same thing.
  • #76
  • Jan 9, 2009 1:01pm Jan 9, 2009 1:01pm
break even on the last half hour usdjpy trade
  • #77
  • Jan 9, 2009 1:05pm Jan 9, 2009 1:05pm
and according to the rules its WEEKEND
have a nice one evrybody
  • #78
  • Jan 9, 2009 1:07pm Jan 9, 2009 1:07pm
Quoting hollandpippin
and according to the rules its WEEKEND
have a nice one evrybody
It's a little past 1900. There is another hour left, if you want it
  • #79
  • Jan 9, 2009 1:31pm Jan 9, 2009 1:31pm
Just had a couple of small winners on the last bar.
  • #80
  • Jan 9, 2009 1:35pm Jan 9, 2009 1:35pm
Yes, I just caught this little one for 26 pips
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