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Slingshot-30 Min. PA System

  • #181
  • Jan 12, 2009 1:48pm Jan 12, 2009 1:48pm
Quoting billbss
I can't understand what you did.
At Point A, you say "top+1 pip"
You should have been looking for it to go below the Bottom - 1 pip.
Sorry again...It should say " Buy sTOP1pip+spread at close of bar A". i mean "Buy Stop at close of bar A+1+spread"...
let's make pips
  • #182
  • Jan 12, 2009 1:56pm Jan 12, 2009 1:56pm
Quoting TimeFreedom
Bill;

Please make sure you are using Beta04 which takes account of the external pipsBuffer and not minStopLevel which is adding 3 pip buffer to the trades instead of 1 pip per the rules. FYI, I noticed that using a 3 pipsBuffer gives me better results.

TimeFreedom
Okay-
Evidently I was using a version other than Beta04.

This time I found something else.

There were 2 trades executed during the 13:30 bar.
There was a 13 pip loser and a 23 pip winner.

This would have been accurate IF you have it programmed for reentry.
  • #183
  • Jan 12, 2009 1:57pm Jan 12, 2009 1:57pm
Quoting kapten_haddo
Sorry again...It should say " Buy sTOP1pip+spread at close of bar A". i mean "Buy Stop at close of bar A+1+spread"...
I believe that was correct if you used a 10 pip TP.
  • #184
  • Jan 12, 2009 1:59pm Jan 12, 2009 1:59pm
Quoting billbss
I can't understand what you did.
At Point A, you say "top+1 pip"
You should have been looking for it to go below the Bottom - 1 pip.
Sorry again...It should say " Buy sTOP1pip+spread at close of bar A". i mean "Buy Stop at close of bar A+1+spread"...
let's make pips
  • #185
  • Jan 12, 2009 2:03pm Jan 12, 2009 2:03pm
Quoting kapten_haddo
Sorry again...It should say " Buy sTOP1pip+spread at close of bar A". i mean "Buy Stop at close of bar A+1+spread"...
I knew what you meant.
It looked good for a TP 10.
  • #186
  • Jan 12, 2009 2:08pm Jan 12, 2009 2:08pm
Quoting billbss
I believe that was correct if you used a 10 pip TP.
Just using 1:1 RR...Maybe better if 1:1.5
Ok..thanks...34 pips for today...
let's make pips
  • #187
  • Jan 12, 2009 4:12pm Jan 12, 2009 4:12pm
Quoting Bobcat2
Hi Damoni,

Could you elaborate on how your MACD Momentum Builder works? 11 wins out of 11 trades is very impressive!

Bob
Hey Bob...I will try it is harder to explain that it is to show except on this forum it will be just as hard to show.

Im' using the Max Macd in Color with settings of 12,26,9 and changing colors 0 &1 to match my background color as I am not using them at the moment.
Attached File(s)
File Type: ex4 MACD_inColor.ex4   4 KB | 425 downloads


Please follow my instruction in the chart below

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 158 KB


The 2nd indicator down is the MACD. You can see that I have written some text there.

First written you will see "lower low from last time MACD was red". This means that momentum us down and ii am looking for short trades only.

2nd you will see "lower high from last time MACD was blue:. This means that we are still looking for short trades.

3rd you will see "lower low" from the last time MACD was red. This means that we are still looking for short trades.

4th you will see "higher high" from last time MACD was blue. After the bar the closed higher then a the last highest blue bar we start looking for up trades only.

5th you will see "higher low" which means that we are still looking for up trades.

6th you will see "lower high", so there is again no change as we are still looking for up trades because that was the last breakout direction.

Unitl we get a lower low we will continue to look for long trades.....

Hope this is is helpful
"Keep your eyes on the helpers" - Mr. Rogers
  • #188
  • Jan 12, 2009 7:44pm Jan 12, 2009 7:44pm
Okay...I haveput version 4 on a demo account with back bay just because I still have an open demo account with them.

I have placed the ea on eurusd, gbpusd, jpyusd, gold and silver, all on both the 1H and M30 TF's

I am expecting gold and silver to have too big of spreads the way the EA is right now, but I wanted to just get a visual on what to do with a larger spread.

I am hoping to be able to give an evaluation daily along with my observations and results.

Let's see what we can do with this thing

oh yeah...and gbpjpy
"Keep your eyes on the helpers" - Mr. Rogers
  • #189
  • Jan 12, 2009 9:01pm Jan 12, 2009 9:01pm
Quoting thatwasme
Yup here is his screen shot
Ciao guyz ,
Could any buddy post Slingshot-30 Min. PA System Video on youtube or any link thanx for paying attention ..........
Not by Might , Nor by Power .But by my spirit, Saith The LORD of Hosts
  • #190
  • Jan 13, 2009 12:55am Jan 13, 2009 12:55am
"Hey Bob...I will try it is harder to explain that it is to show except on this forum it will be just as hard to show..."

Hi Damonl,

Thanks for sharing your methodology. I will test drive your application, and I will report back to you with my results.

Thanks again,
Bob
  • #191
  • Jan 13, 2009 7:05am Jan 13, 2009 7:05am
Put Beta04 on real account (IBFX) last night on 30-min charts for all applicable pairs (micro-lot).
(The only true test of viability.)

Through the London overnight session to 0800 EST, I'm sitting at -100 pips.

Carl
  • #192
  • Jan 13, 2009 7:43am Jan 13, 2009 7:43am
Quoting crodzilla
Put Beta04 on real account (IBFX) last night on 30-min charts for all applicable pairs (micro-lot).
(The only true test of viability.)

Through the London overnight session to 0800 EST, I'm sitting at -100 pips.

Carl
no doubt a bad night for straight trading this thing. I think straught trading this without a filter will have diassasterous results. I did not trade it because I want to see if we can get the EA to do what we want. I will go over my filtered results in a minute.
"Keep your eyes on the helpers" - Mr. Rogers
  • #193
  • Jan 13, 2009 7:45am Jan 13, 2009 7:45am
Closed 2 trades for +64 pips in the last 40 minutes...

Total for today is now -36 through 0845 EST.

Carl
  • #194
  • Jan 13, 2009 8:14am Jan 13, 2009 8:14am
The Forex gods are giving and taking away...

Closed 3 more trades for -93.

Total today -129.

Carl
  • #195
  • Edited 8:42am Jan 13, 2009 8:26am | Edited 8:42am
So far, here are the results following my filtered version.

USDJPY 2 for 2 off M32 charts - notice that both the M30 adh H1 were showing tradeing direction to be long according to my filter.

For eurusd we would have had 1 win and 2 losses on the M30

For eurusd H1 we would have had 1 win and 1 loss

For eurusd our one win on the M30 was opposite the direction of the H1 at the moment it was taken, and the win would have to have been left open until s/l was hit or a bar closed in profit...as it turned out it woul dhave been the next bar.

For GBPUSD M30 we would have had 4 wins and 0 losses, but we would have had to make sure that once again, that we kept the trades open until they hit out s/l or closed in profit.

GBPUSD H1 would have given us 1 win today and both the M30 and H1 we giving filters for trading in the same direction.

It is also safe to say that I did not check as to the original s/l rule as I think that rule is flawed as well, but if it goes that far, that is something that can be optimaized later because if we are making solid and good trades, the s/l should be able to be figured out.

We'll see what happens the rest of today.....

Here is the rest of today

eurusd M30 a small win
"Keep your eyes on the helpers" - Mr. Rogers
  • #196
  • Jan 13, 2009 8:49am Jan 13, 2009 8:49am
Closed 3 more trades for -18 pips.

This raw system does need some refinements/filters.

Carl
  • #197
  • Jan 13, 2009 9:00am Jan 13, 2009 9:00am
Quoting crodzilla
Closed 3 more trades for -18 pips.

This raw system does need some refinements/filters.

Carl
agreed....

s/l needs to be adjusted and I believe that I have a good filter explained back a few posts, but we wanted to wait and see how it played out before adding filters.

Accoding to what looks like will close, according to the way I see this needs to be traded we would have taken 1 more win on eurusd M30 aNd M15 and depending on our s/l rules, the gbpusd trade may have eiter closed in a loss or would no quite of hit our s/l and would still be open for this bar.....depends on the optimized rules....

The way the s/l is now, it just nickel and dimes you to death
"Keep your eyes on the helpers" - Mr. Rogers
  • #198
  • Jan 13, 2009 9:01am Jan 13, 2009 9:01am
Quoting Ronald Raygun
Are you sure it's open and close as opposed to high/low?

I was also going to ask this same question as I am seeing many setups where the total bar is considerably more than 15 pips but the OC are somewhat less. Even so, the trade is moving as predicted. Also, this chap is not very good at explaining his setup, he explains the setup bar, then the O of the entry bar, the confirmation, the exit and then starts mentioning very briefly the entry point.
Starting to see instead of just looking.
  • #199
  • Jan 13, 2009 9:12am Jan 13, 2009 9:12am
Quoting samiehFX
Ciao guyz ,
Could any buddy post Slingshot-30 Min. PA System Video on youtube or any link thanx for paying attention ..........
Just go to youtube and search for
SlingShot 30M 100% Mechanical Scalping Forex System Part 1

I think anyone who posts a link will get it in the neck from the powers that be.
Starting to see instead of just looking.
  • #200
  • Jan 13, 2009 9:17am Jan 13, 2009 9:17am
I've tested this system with two different EAs that I believe to be properly programmed.
Over the last year, each pair looses around 5,000 pips.

I do not believe it is a profitable method.

I consider it another system that looked good at first blush and didn't pan out.

I personally, don't spend time trying to make a system work with filters and indicators, that isn't sound to begin with.

I think the time is better spent working on a system that shows more potential.

If anyone wants to keep at it, feel free and I wish you success.
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