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Third Screen Strategy - Dr. Alexander Elder

  • #561
  • Apr 11, 2013 12:49pm Apr 11, 2013 12:49pm
Quoting 100PipsADay
No you're right, signal is saying "BUY" but due to weekly trend this is a counter trend trade....
Ahh, gotcha. Yeah, I definitely didn't feel comfortable being long with that chart!
check out my blog: forexmademillionaire dot com
  • #562
  • Apr 11, 2013 12:57pm Apr 11, 2013 12:57pm
Quoting whatfx
no worries. i was only kidding about the vouch. i aint gonna force you into it. it was a bit of banter. i have 2 vouches so far, and those were given by two people whom at the time i werent very familiar with. but they obviously saw some of my posts and gathered i was a good trader, and more than not iam correct in my trade predictions/analysis. i have never asked to be vouched except in your case (just wanted to see your reaction). as regards to posting charts. i would love to do that. only issue is, i trade on ig index, not mt4. so...

Hey WhatFx,

If you're looking for a way to capture quality screen shots with the ability to do some simple editing this is an excellent program and is completely free! http://www.techsmith.com/download/jing/
  • #563
  • Apr 11, 2013 12:59pm Apr 11, 2013 12:59pm
Quoting 100PipsADay
No you're right, signal is saying "BUY" but due to weekly trend this is a counter trend trade....
i thought you dont take the weekly trend into account when trading this method ?

also, what is your scaling in criteria ? do you only scale in when in profit or do you also add positions when you are losing ?

my eur/aud trade. the second long position i opened yesterday is in profit. so first long position still negative but my second trade being in profit means now iam almost near break even hoping to go into overall profit next week.

eur/chf long - slow but in profit


also, i shorted nzdusd as i had declared yesterday (not third screen strategy). had to recover the pips i lost from it ! presently around +12. i had lost 40 pips on this previously.
  • #564
  • Apr 11, 2013 1:01pm Apr 11, 2013 1:01pm
Congrats 100pips,
on starting this thread and a monumentous job your doing with Dr. Elder's system. He is one of the most respected technicians out there and i'm compling my charts to start trading the system as we speak.

Looking forward to posting my results and learning from you and the others here.

You the man bro.
  • #565
  • Apr 11, 2013 1:04pm Apr 11, 2013 1:04pm
Quoting whatfx
i thought you dont take the weekly trend into account when trading this method ? also, what is your scaling in criteria ? do you only scale in when in profit or do you also add positions when you are losing ? my eur/aud trade. the second long position i opened yesterday is in profit. so first long position still negative but my second trade being in profit means now iam almost near break even hoping to go into overall profit next week. eur/chf long - slow but in profit also, i shorted nzdusd as i had declared yesterday (not third screen strategy)....
I definitely keep the overall trend (weekly) into consideration. We don't need to take every trade where D1 MACD is showing Up or Down, use this as well as H1 Williams in order to move in the direction of the overall trend if possible.

I add positions when I'm losing and/or when I'm winning. Sometimes I will add up to 4 positions immediately or I may open up 2 and then wait for price to move against me or in my favor before adding more positions. It is completely up to you.
  • #566
  • Apr 11, 2013 1:26pm Apr 11, 2013 1:26pm
Quoting 100PipsADay
I definitely keep the overall trend (weekly) into consideration. We don't need to take every trade where D1 MACD is showing Up or Down, use this as well as H1 Williams in order to move in the direction of the overall trend if possible. I add positions when I'm losing and/or when I'm winning. Sometimes I will add up to 4 positions immediately or I may open up 2 and then wait for price to move against me or in my favor before adding more positions. It is completely up to you.
BNP Paribas just raised there U/J year end forecast to 102.00. At the rate the yen is declining, I'm sure it'll get raised again. No stopping this yen runaway train right now.
  • #567
  • Apr 11, 2013 1:55pm Apr 11, 2013 1:55pm
Quoting MKFXTrader
BNP Paribas just raised there U/J year end forecast to 102.00. At the rate the yen is declining, I'm sure it'll get raised again. No stopping this yen runaway train right now.
USD/JPY @ 102.00 is an EXTREMELY conservative year end target from what I can see... Only 200 pips away with 8 more months to go

I think you're right about it getting raised again in the near future
  • #568
  • Apr 11, 2013 5:18pm Apr 11, 2013 5:18pm
could see all x/jpy pairs reach new highs if war breaks out (n korea).
  • #569
  • Apr 11, 2013 5:19pm Apr 11, 2013 5:19pm
Quoting 100PipsADay
Hey WhatFx, If you're looking for a way to capture quality screen shots with the ability to do some simple editing this is an excellent program and is completely free! http://www.techsmith.com/download/jing/

thanks. will give it a go.
  • #570
  • Apr 12, 2013 5:21am Apr 12, 2013 5:21am
100pips

may i suggest potential trades are posted here twice a week, once at the end of the week and once mid-week on all pairs ?

also, updates as and when required.

that would be great, and also will keep the thread alive and everyone would know which pairs to look out for.

  • #571
  • Apr 12, 2013 5:32am Apr 12, 2013 5:32am
Quoting whatfx
100pips may i suggest potential trades are posted here twice a week, once at the end of the week and once mid-week on all pairs ? also, updates as and when required. that would be great, and also will keep the thread alive and everyone would know which pairs to look out for.
Whatfx, why don't you post potential trades as and when they arise? The set-up's are very simple to spot. Why do you need 100pips to do it for you? You give the impression you don't need to be spoon-fed so I'm sure the other followers of this thread will appreciate your experienced views and knowledge!!
  • #572
  • Apr 12, 2013 6:17am Apr 12, 2013 6:17am
Quoting whatfx
100pips may i suggest potential trades are posted here twice a week, once at the end of the week and once mid-week on all pairs ? also, updates as and when required. that would be great, and also will keep the thread alive and everyone would know which pairs to look out for.
I think 100pip has been doing more then enough to help this thread along. There's no need to be spoonfed more then he's already doing. Just my op.
  • #573
  • Apr 12, 2013 8:08am Apr 12, 2013 8:08am
it was a general idea i thought of to post potential trades twice a week, not specifically asking 100 pips to do it, but open to everyone including myself. so keep your horses on fellas, and stop bringing all the rif raff arguments over to this thread. keep it clean.
  • #574
  • Apr 12, 2013 8:13am Apr 12, 2013 8:13am
Quoting whatfx
it was a general idea i thought of to post potential trades twice a week, not specifically asking 100 pips to do it, but open to everyone including myself. so keep your horses on fellas, and stop bringing all the rif raff arguments over to this thread. keep it clean.
No arguments here.
  • #575
  • Apr 12, 2013 9:24am Apr 12, 2013 9:24am
looks like the x/jpy pairs are due for a correction, to the downside.
  • #576
  • Apr 12, 2013 10:00am Apr 12, 2013 10:00am
eur/aud - had two long positions open. 2nd position closed just now for +75. 1st position still running.

nzdusd - short closed for about + 70. (not third screen strategy)

eur/chf - long still running.


done for this week. not a great week for me, but in in profit noetheless.
  • #577
  • Apr 12, 2013 12:36pm Apr 12, 2013 12:36pm
Whats up Everyone,

I"m new to this thread but have been following for couple weeks now. I see a potential long from this pullback based on the Third Screen Setup.

I'm demo right now and would appreciate any feedback from anyone of you all.

peace.
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  • #578
  • Apr 12, 2013 3:18pm Apr 12, 2013 3:18pm
Quoting Lucrativ
Whats up Everyone, I"m new to this thread but have been following for couple weeks now. I see a potential long from this pullback based on the Third Screen Setup. I'm demo right now and would appreciate any feedback from anyone of you all. peace. {image} {image} {image}
se

where is your williams % indi ? you base your entries on that .
  • #579
  • Apr 14, 2013 9:45pm Apr 14, 2013 9:45pm
Hey guys, I just wanted to update here with what WOULD have happened had I held my GBP/AUD long I put on last week and then took off for a -10 loss. They horizontal red line was my entry. I'd be sitting pretty right now had I trusted the system
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check out my blog: forexmademillionaire dot com
  • #580
  • Edited 12:59pm Apr 15, 2013 5:40am | Edited 12:59pm
Quoting Geppy
Hey guys, I just wanted to update here with what WOULD have happened had I held my GBP/AUD long I put on last week and then took off for a -10 loss. They horizontal red line was my entry. I'd be sitting pretty right now had I trusted the system {image}

exactly geppy. you need to learn how to trust the system. play around with small amounts if you want.

my eur/aud long was losing around -200 pips last week. opened a second position at 4hr support. got +75 out of the second position whilst the first was still losing. now the first is in profit ! around +30 last time i checked. profit target 280 pips. but i know there is another dip on the way. may need to hold on to the position and go into negative territory again. but thats what the system entails, you must hold onto your position and trust it as long as the stop isnt hit.


what are peoples thought on eurusd at present ?
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