Hi.
I’ve just amended the link above as I was replying from my Mobile phone. If you click on my journal then I have all the data here with full details. Here’s the link again 301 Moved Permanently
In answer to your question. Yes there have been loosing years. But over the 13 years there is an edge which is only small but no different then if you were the casino. Casino’s only have a very small edge ( 0.5% to 5% roughly) which is why they survive the long run. This is the real truth to trading. If you can be 100% mechanical with a small edge, then you will be 100% confident to following your strategy through periods of drawdowns, knowing over the long run you will be profitable. Its all about statistics really. Then you can really believe in your trading strategy to plough in plenty of capital to trade. This is how I trade my savings. Im only after a nice steady increase in my portfolio every year. Not massive gains & massive losses. The only way to do this is diversify using two or more profitable strategies & multiple instruments/pairs to trade. This is my aim & nothing more.
I am no longer interested in using pure technical skill or fundamental analysis. Its all a numbers game which is why I back test years of data. An edge is also belief. Belief comes with research & back testing to build confidence in your strategy. This is only my take on this as this is the only way I’ve found to be consistently profitable.
Your own, or other fellow traders conclusions may be different.
Thanks Pipfisher. Just so you know, this is not my strategy. I found the original on youtube here - YouTube
Oh by the way, only just read your visitors message. Sorry for slow response.
Im only posting here once a week with update of live account. All my back testing research data is in my journal thread - 301 Moved Permanently
Thanks Kevin. Its already been a thread here before but I don’t think anyone has back tested this strategy long term like I have so eventually no one believed in it or stuck to the rules. This wont be my problem but time will tell.
[B]Mon 31 Mar 2014
Slingshot Live account update[/B]
Balance $300
Floating $320
Just waiting for Monday bar to close then I can close my 4 Monthly bar trades. As for the new week, there are plenty of potential weekly bar setups. Its all here - Slingshot live account update 31 Mar 2014 - YouTube
Plenty of setups & trade entries this month. Here’s a few more setups with orders placed for the monthly & weekly bars.
Floating profit is looking good but it’s very early days and I don’t take anything for granted. I could still end up with a loosing month. My emotion is completely detached with this strategy. I just follow the rules regardless.
I know now thanks. Nothing I can do but leave this video up as it shows live balance etc. However I will make an update this week sometime. Just reinstalled (refreshed) my PC due to a Trojan which was stopped to late by McAfee.
Regards to programing. Make note I only take setup bars that close with in top or bottom 40%. Middle 20% is invalid setup bar. If you are successful with a program then maybe a back test for the daily bars would be great. I just don’t have enough time to test everything. Its all manual with me through forex tester 2.
Thanks for your great knowlegde and many hard working for this system. i spend all of the weekend ,and 2 days more to read about sling shot, and now i follow your reading.
Im no programmer but if the daily bars could be used as an EA then I would be interested. The problem is the 6 day bar where my broker is concerned, however the New York close would do the job nicely. Back testing is crucial so any help would be appreciated.
