Forex Trading Systems

SlingShot — Mechanical Trading System

- 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 don't attempt trading it on a smaller than 30 min chart, it simply won't make enough wins.

2. Focus on forward testing rather than backtesting — remember, when looking at historical prices, you can't see the sequence in which the price moves on each bar, which will make such testing irrelevant.

3. For the same reason don't try to backtest it with an Expert Advisor.

4. Sticking to a manual trading is preferred. When you use and Expert, it takes every signle 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.

To your trading success!
Jeff Boyd