Third Screen Strategy - Dr. Alexander Elder | Page 22 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #421
  • Apr 5, 2013 9:36am Apr 5, 2013 9:36am
Quoting dynel14
@100PipsADay: Nice thread Help me to summarize the SL and TP: SL=160 / TP=280 AUDJPY NZDJPY SL=200 / TP=320 EURUSD SL=260 / TP=320 AUDNZD AUDUSD CADJPY EURAUD EURCAD GBPAUD GBPUSD NZDUSD SL=260 / TP=350 GBPJPY Is that correct? Regards, dynel
Thanks Dynel!

You have all SL and TP parameters PERFECT!!!
  • #422
  • Apr 5, 2013 9:40am Apr 5, 2013 9:40am
Quoting Fishcoo
Opened Positions Today {image}
Wow! Excellent results FishCoo!
  • #423
  • Apr 5, 2013 9:46am Apr 5, 2013 9:46am
You guys ready to see today's results from my 3 accounts?

*All JPY positions were opened up within the last 12 hours or so.

Over 3,500 pips from today's positions alone between the 3 accounts!
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  • #424
  • Apr 5, 2013 9:48am Apr 5, 2013 9:48am
FishCoo,

I'm curious to know if you are in profit overall since you started trading this system?

If so, how many pips have you gained since you started trading the Third Screen Strategy?

Last question, when did you start trading this system?
  • #425
  • Apr 5, 2013 9:57am Apr 5, 2013 9:57am
Quoting 100PipsADay
You guys ready to see today's results from my 3 accounts? *All JPY positions were opened up within the last 12 hours or so. Over 3,500 pips from today's positions alone between the 3 accounts! {image} {image} {image}
  • #426
  • Apr 5, 2013 10:11am Apr 5, 2013 10:11am
Quoting 100PipsADay
FishCoo, I'm curious to know if you are in profit overall since you started trading this system? If so, how many pips have you gained since you started trading the Third Screen Strategy? Last question, when did you start trading this system?
I started this system from March 27 and made a loss of about 400 pips.Not so bad,but i should think and learn something yesterday.
  • #427
  • Apr 5, 2013 10:16am Apr 5, 2013 10:16am
Quoting Fishcoo
I started this system from March 27 and made a loss of about 400 pips.Not so bad,but i should think and learn something yesterday.
I see. So if all of your current open JPY positions reach their TP targets you will be in profit overall correct?
  • #428
  • Apr 5, 2013 10:20am Apr 5, 2013 10:20am
Quoting 100PipsADay
I see. So if all of your current open JPY positions reach their TP targets you will be in profit overall correct?
Yes,you are right.So I think if we can stick to the rules and we will be in profit after a long time.Investment is just a marathon.Thank for your great work again.
  • #429
  • Apr 5, 2013 10:27am Apr 5, 2013 10:27am
Quoting Fishcoo
Yes,you are right.So I think if we can stick to the rules and we will be in profit after a long time.Investment is just a marathon.Thank for your great work again.
I'm glad to hear that as I am extremely confident with our USD/JPY and JPY cross pair long positions.

Yes, this strategy should be viewed every 3 months for total Profit and Loss. This is a "medium term" strategy and we do experience draw downs from time to time.
  • #430
  • Apr 5, 2013 10:32am Apr 5, 2013 10:32am
Quoting 100PipsADay
I see. So if all of your current open JPY positions reach their TP targets you will be in profit overall correct?
100pip. Do you keep your ositions open through the weekend? I usually close all my positions out on Friday so I can sleep better on weekends.

If there is a huge gap like we saw a few months ago with JPY and it goes farther then your SL, how will it be handled by broker once they open up shop on Sunday Asian open? Do you get the price at SL filled or hypothetically if PA moves 100-500 pips under your SL, how is it filled? I mean anything can happen on weekend(war, natural disaster, ect...)
  • #431
  • Apr 5, 2013 10:35am Apr 5, 2013 10:35am
Quoting MKFXTrader
100pip. Do you keep your ositions open through the weekend? I usually close all my positions out on Friday so I can sleep better on weekends. If there is a huge gap like we saw a few months ago with JPY and it goes farther then your SL, how will it be handled by broker once they open up shop on Sunday Asian open? Do you get the price at SL filled or hypothetically if PA moves 100-500 pips under your SL, how is it filled? I mean anything can happen on weekend(war, natural disaster, ect...)
Yes I almost always hold my positions over the weekend.

I believe I would get stopped out at open price, basically SL and TP are "inactive" during the weekend so to speak.

True anything can happen but so far in 16 months everything has been fine. Sometimes I gap lower and sometimes I gap higher in terms of pips, it all works out in the end.
  • #432
  • Apr 5, 2013 10:50am Apr 5, 2013 10:50am
Quoting 100PipsADay
Yes I almost always hold my positions over the weekend. I believe I would get stopped out at open price, basically SL and TP are "inactive" during the weekend so to speak. True anything can happen but so far in 16 months everything has been fine. Sometimes I gap lower and sometimes I gap higher in terms of pips, it all works out in the end.
Thanks pip. BTW-I think your nickname should be pip or pippy or something like that, as 100pip is not very personal. Any thoughts?
  • #433
  • Apr 5, 2013 11:00am Apr 5, 2013 11:00am
Quoting MKFXTrader
Thanks pip. BTW-I think your nickname should be pip or pippy or something like that, as 100pip is not very personal. Any thoughts?
LOL One of the other members use to call me "Pippy" and another person calls me HP (hundred pips) but whatever you want to use I'm fine with it
  • #434
  • Apr 5, 2013 11:06am Apr 5, 2013 11:06am
Quoting 100PipsADay
LOL One of the other members use to call me "Pippy" and another person calls me HP (hundred pips) but whatever you want to use I'm fine with it
I'm done for the week. Have a great weekend pippy and everyone. Thanks for sharing your system pippy. Talk to you soon.
  • #435
  • Apr 5, 2013 11:08am Apr 5, 2013 11:08am
Quoting MKFXTrader
I'm done for the week. Have a great weekend pippy and everyone. Thanks for sharing your system pippy. Talk to you soon.
You too MKFX! Hope it's working out for you.

Talk to you later buddy.
  • #436
  • Apr 5, 2013 1:59pm Apr 5, 2013 1:59pm
Just found this discussion 2 days ago and placed some demo trades last night. Looking forward to seeing the pips pile up!
  • #437
  • Apr 5, 2013 2:21pm Apr 5, 2013 2:21pm
Quoting fx4dreams
Just found this discussion 2 days ago and placed some demo trades last night. Looking forward to seeing the pips pile up!
Hey Fx4Dreams,

Welcome to our thread! Curious, which trades did you get into last night?
  • #438
  • Apr 5, 2013 6:00pm Apr 5, 2013 6:00pm
Quoting 100PipsADay
I try to stick to this system for the majority of my trading. However, I do keep an eye on Monthly and Weekly support / resistance areas along with price action at those levels to look for possible long term trend reversals. Also, keeping track of the fundamentals helps to give us more of a macro view of the markets. But all in all I would say 95% of my trading is done using a part of the Third Screen Strategy which is explained throughout this thread Edit: Took out "100% of my trading" up top as I have 95% down below. They contradict...
Good day 100PipsADay

Congratulations on a very fine thread here, I have been following only for this last week now, but it has been 100%, oh, OK 95%, as I just stopped reading all other threads here on FF.

And even more congratulations on the excellent results posted yesterday; I mean the overall results, not just the results of past few days of extraordinary price action. This thread should soon have the largest following of any one would expect, but then maybe most will not have the patience to learn & await the results like that.

I also dusted off my copy of Trading For A Living to refresh my mindset about this method. By the way, I thought of getting the Kindle version on Amazon but I see it is $45 which seems high, but then based on yesterday's results, (10% of account but trades still open), I may well spring for it.

I have a million questions, and suggestions, for you but will not overwhelm you with them all right now, just a few:

1. I have seen your posts in other threads; do you still do that or just concentrate here now that you have open this thread?

2. What is the software or trading program that is used to produce those results reports?

3. The 4 hour chart has been big for me; why do you jump from Weekly & Daily to 1 hour?

4. As I incorporate this methodology into my analysis, do you mind if I post a few charts, make suggestions, comments?

5. With so many pairs on the go, I am curious as to your trading setup; how many computers & screens do you have? Do you use a VPS?

6. I don't see USD-CAD in the results / profit factor listing?

7. With the results posted of the demo account, is any position sizing used as the account balance grows?

Getting into trade management there, which will lead to even more questions, so I will leave it at that for now.

Regards, E.

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It takes a lot for me to IGNORE you, but you can try.
  • #439
  • Apr 5, 2013 7:19pm Apr 5, 2013 7:19pm
Quoting 100PipsADay
Live Account: Yes. The "Current Open Positions" charts that I post on a daily basis (or try to anyways) is one of my actual LIVE accounts. This is what I'm tracking in this thread for those who are interested. I am trading EUR/AUD, GBP/AUD, EUR/CAD, EUR/USD, USD/JPY, and ALL of the JPY cross pairs in this particular account. FXCM Rep: No, I just liked the logo, but somebody recommended that I take the "FXCM" part out of it so I did a little "Microsoft Paint" editing and put my FF user name instead...

well, you seem to be a very experienced trader. how long have you been trading ?

your technical analysis and knowledge is way above the folks that lurk here on forexfactory. your analysis suggests you are probably working for a broker or other financial companies. and hence your thorough knowledge and discussions. its not a problem if you are. its good to know the truth so that we know we have one of the experienced ''big boys'' in our midst

while you were shorting the jpy cross pairs recently, i was hesitant in taking any shorts, which i expressed in one of the posts i think. as my chart analysis showed shorts were losing steam. and now look what happened. the jpy cross pairs are going up now. its a good thing i waited eh ?

if i had went short even 4 jpy pairs quite recently, i would indeed be in huge loss now. but i only had one loss that was 160 pips on gbpjpy.

now its all up and up. original trend resumes !


i went long today on both eu and gu. presently each one is over 80 pips in profit ! daily has gone long as per third screen strat.
  • #440
  • Edited 7:35pm Apr 5, 2013 7:25pm | Edited 7:35pm
Quoting whatfx
well, you seem to be a very experienced trader. how long have you been trading ? your technical analysis and knowledge is way above the folks that lurk forexfactory. your analysis suggests you are probably working for a broker or other financial companies. and hence your thorough knowledge and discussions. its not a problem if you are. its good to know the truth so that we know we have one of the experienced ''big boys'' in our midst while you were shorting the jpy cross pairs recently, i was hesitant in taking any shorts, which i expressed in...
I'm not really anybody significant in the financial world. Just a 27 year old guy who enjoys trading and following the financial markets.

I've been trading for about 2 years now, went full time August of 2012.

Your compliments are appreciated but I'm really not much any better than anybody else who takes trading serious and treats it like a business. I have always been a quick learner and when I put my mind to something I usually accomplish it.

Anyways, as far as USD/JPY and the JPY cross pairs we have much more room to the upside! Let's trend trade the current trend and maximize our profits as much as possible!

To be honest though, last week when I was shorting the cross pairs I was also nervous, LOL, they were definitely counter trend trades but sell signals were solid so we took them.

Enjoy your weekend WhatFx!
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