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SLINGSHOT is a fully automated 5-minute candle (M5) based, with-trend, swing strategy. It systematically tries to identify “what, where, when” price-action triggers to position itself for trend continuation in the forex markets.
It trades 8 pairs (AUDJPY, AUDUSD, EURAUD, EURJPY, EURUSD, GBPJPY, GBPUSD, and USDJPY), albeit infrequently, trying to catch an incipient trend. It only trades in appropriate time windows and if a resumption of trend is evident from price action within a consolidation zone.
The system incorporates strict money management rules. Per-trade risk is capped at 1.5%. One-third of this is given room to breathe, but for the other two-thirds, partials are taken regularly at M5 swing high/lows. The latter is also de-risked aggressively if faltering. Both types of trade incorporate a hard stop loss, defined by risk, as well as a dynamic stealth level where the trade is abandoned prematurely if the with-trend conditions are in doubt. All trades have interim and final profit targets, at which the stop loss is moved to de-risk further.
