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Third Screen Strategy - Dr. Alexander Elder

  • #841
  • May 30, 2013 12:12pm May 30, 2013 12:12pm
Greetings,

I was attempting to keep up to date with what you are using for SL / TP settings, so I'm probably out of sync with what you are now using - is this close?
Attached Image
"To live with Passion, it takes Courage and Grace to survive"
  • #842
  • May 30, 2013 12:35pm May 30, 2013 12:35pm
Quoting Britpip7
Greetings, I was attempting to keep up to date with what you are using for SL / TP settings, so I'm probably out of sync with what you are now using - is this close? {image}

Those are what I am testing out with the D1 20 EMA & 50 EMA strategy.

Go to this page and follow the recommended SL and TP parameters for each pair: http://www.forexfactory.com/showthre...11#post6577111

*Keep in mind that you can try your own parameters according to your own comfort level.

I'm testing out a hard 160 SL and 320 TP for quite a few pairs at the moment as this gives a better risk/reward ratio. However, I don't think these setting will work very well with GBP/USD or the other GBP cross pairs. Another thing to keep in mind is that I don't like to trade USD/CAD or EUR/GBP as these pairs move very slow... It's like watching paint dry!
  • #843
  • Edited 1:10pm May 30, 2013 12:57pm | Edited 1:10pm
I am going to link the new Third Screen Strategy Expert Advisor MT4 demo test to this thread.

Pairs: EUR/USD, EUR/JPY, USD/JPY, NZD/USD/ NZD/JPY, AUD/USD, AUD/JPY, EUR/AUD, GBP/AUD, CAD/JPY, AUD/NZD, and GBP/USD.

Max Positions: 8

Stop Loss: 160
Take Profit: 320

IMPORTANT: These trades are not the exact trades that I trade on my live accounts. Also, SL and TP parameters are also different then what I've been using. Use your own judgement when executing trades in your live account and use proper money management.
  • #844
  • May 30, 2013 1:08pm May 30, 2013 1:08pm
Quoting 100PipsADay
I am going to link the new Third Screen Strategy Expert Advisor MT4 demo test to this thread. Pairs: EUR/USD, EUR/JPY, USD/JPY, NZD/USD/ NZD/JPY, AUD/USD, AUD/JPY, EUR/AUD, GBP/AUD, CAD/JPY, and GBP/USD. Max Positions: 8 Stop Loss: 160Take Profit: 320 IMPORTANT: These trades are not the exact trades that I trade on my live accounts. Also, SL and TP parameters are also different then what I've been using. Use your own judgement when executing trades in your live account and use proper money management.
I just want to make sure (so I don't get yelled at again ), that this is a new EA specifically for this strategy, or is it just another updated version of your other thread?

I don't want to get the two mixed up again, haha.

Thanks.
  • #845
  • May 30, 2013 1:14pm May 30, 2013 1:14pm
Quoting 100PipsADay
I am going to link the new Third Screen Strategy Expert Advisor MT4 demo test to this thread. Pairs: EUR/USD, EUR/JPY, USD/JPY, NZD/USD/ NZD/JPY, AUD/USD, AUD/JPY, EUR/AUD, GBP/AUD, CAD/JPY, AUD/NZD, and GBP/USD. Max Positions: 8 Stop Loss: 160Take Profit: 320 IMPORTANT: These trades are not the exact trades that I trade on my live accounts. Also, SL and TP parameters are also different then what I've been using. Use your own judgement when executing trades in your live account and use proper money management.
Where is this link? coz I dont found first expert?
  • #846
  • May 30, 2013 1:22pm May 30, 2013 1:22pm
Quoting 100PipsADay
I am going to link the new Third Screen Strategy Expert Advisor MT4 demo test to this thread. Pairs: EUR/USD, EUR/JPY, USD/JPY, NZD/USD/ NZD/JPY, AUD/USD, AUD/JPY, EUR/AUD, GBP/AUD, CAD/JPY, AUD/NZD, and GBP/USD. Max Positions: 8 Stop Loss: 160Take Profit: 320 IMPORTANT: These trades are not the exact trades that I trade on my live accounts. Also, SL and TP parameters are also different then what I've been using. Use your own judgement when executing trades in your live account and use proper money management.
I am curious about the NZDUSD buy trade on your explorer. I don't see daily MACD has turned positive. Shouldn't we still be looking for sells?

What am I missing?
  • #847
  • Edited 7:56pm May 30, 2013 1:22pm | Edited 7:56pm
Quoting Tok
{quote} I just want to make sure (so I don't get yelled at again ), that this is a new EA specifically for this strategy, or is it just another updated version of your other thread? I don't want to get the two mixed up again, haha. Thanks.
Third Screen Strategy EA

This particular EA is specifically designed around this strategy. D1 MACD & H1 Williams % ONLY. NO EMA's are used for this strategy...

This EA requires a specific MACD indicator which we will all follow so that results are similar. Please find attachments below.

Attachments:

1st Attachment: MACD3SS. This file is needed to operate the EA. Copy it to the "Indicator" folder and DO NOT change it's name!
2nd Attachment: This is the Third Screen Strategy EA.
Attached File(s)
File Type: ex4 MACD3SS.ex4   3 KB | 722 downloads
File Type: ex4 Third Screen Strategy - D1 MACD.ex4   20 KB | 705 downloads
  • #848
  • May 30, 2013 1:23pm May 30, 2013 1:23pm
That probably answers my question (different indicator?).

Thank you very much!
  • #849
  • May 30, 2013 1:27pm May 30, 2013 1:27pm
Quoting rtn
{quote} I am curious about the NZDUSD buy trade on your explorer. I don't see daily MACD has turned positive. Shouldn't we still be looking for sells? What am I missing?
Good question. I noticed that yesterday D1 MACD just slightly moved to the upside therefore the BUY trade opened up. However, we are pointing to the downside again albeit very slightly.

Again, make sure to use your own judgement when using this EA and DO NOT follow every single trade. Feel free to disable it at times when market is ranging or if you are uncomfortable with current setup.
  • #850
  • May 30, 2013 1:28pm May 30, 2013 1:28pm
Quoting rtn
That probably answers my question (different indicator?). Thank you very much!

The D1 MACD indicator attached was programmed to be exactly the same as the MACD_Adjustable indicator that I have been using. Settings should be exactly the same.
  • #851
  • May 30, 2013 1:39pm May 30, 2013 1:39pm
100pipsday, please tell me, what is the differents betwen this Third Screen Strategy EA and D1 20 EMA & 50 EMA strategy?
coz I use the D1 ema strategy and its sims to be very powerful.
  • #852
  • May 30, 2013 1:47pm May 30, 2013 1:47pm
Quoting 100PipsADay
{quote} Third Screen Strategy EA This particular EA is specifically designed around this strategy. D1 MACD & H1 Williams % ONLY. NO EMA's are used for this strategy... This EA requires a specific MACD indicator which we will all follow so that results are similar. Please find attachments below. Attachments: 1st Attachment: MACD3SS. This file is needed to operate the EA. Copy it to the "Indicator" folder and DO NOT change it's name! 2nd Attachment: This is the Third Screen Strategy EA. {file} {file}
Thanks Pippy.
  • #853
  • May 30, 2013 2:35pm May 30, 2013 2:35pm
Quoting shum
100pipsday, please tell me, what is the differents betwen this Third Screen Strategy EA and D1 20 EMA & 50 EMA strategy? coz I use the D1 ema strategy and its sims to be very powerful.
sorry for that stupid question, I reread the manual, its another strategy, no emas here-))
  • #854
  • May 30, 2013 3:19pm May 30, 2013 3:19pm
Quoting MKFXTrader
{quote} Thanks Pippy.
No problem MKFX!
  • #855
  • May 30, 2013 3:31pm May 30, 2013 3:31pm
I will never use EA's.Actually, I don't understand how anyone can.Where is the trading spirit ? I'm joking,but really it's not for me.All praises to 100pips or whoever made it but I think that the beauty of this strategy is that we can look and follow chart and price action,ourselves,come on it's part of THIRD SCREEN STRATEGY.Yet we have more screens,multi monitors -it's trading paradise!Although,this strategy is not difficult,moreover it's simple.It's just requires more practice.I don't understand why everyone is waiting for EA's and robots etz. immediately,but we are not all the same. Cut here.
  • #856
  • May 30, 2013 3:48pm May 30, 2013 3:48pm
Quoting 100PipsADay
{quote} Those are what I am testing out with the D1 20 EMA & 50 EMA strategy. Go to this page and follow the recommended SL and TP parameters for each pair: http://www.forexfactory.com/showthre...11#post6577111 *Keep in mind that you can try your own parameters according to your own comfort level. I'm testing out a hard 160 SL and 320 TP for quite a few pairs at the moment as this gives a better risk/reward ratio. However, I don't think these setting will work very well with GBP/USD or the other GBP cross pairs. Another thing...
Thanks for the link - I agree on the R:R issue - a minimum of 1:2 usually pays off - 1:3 if you can make it work

I would add AUD/NZD and EUR/CHF as paint drying options!
"To live with Passion, it takes Courage and Grace to survive"
  • #857
  • May 30, 2013 3:59pm May 30, 2013 3:59pm
Quoting Britpip7
{quote} Thanks for the link - I agree on the R:R issue - a minimum of 1:2 usually pays off - 1:3 if you can make it work I would add AUD/NZD and EUR/CHF as paint drying options!
So true! I don't trade EUR/CHF at all! AUD/NZD is obviously slower then all of the other pairs that I trade but it has been quite profitable with over 7,500 pips in total. If one is working with limited margin I wouldn't recommend AUD/NZD as a top priority.
  • #858
  • May 30, 2013 4:07pm May 30, 2013 4:07pm
Thought I would post this as I slowly come up to speed on this strategy. This is the best way for me to learn the techniques and embed the entry mechanics into my remaining brain cells. One question surfaces on the Day MACD. At what point do folks consider that it has changed and is showing a new Day trend? Waiting for the MACD to change colour seems too late, as is the fast/slow line cross. On the Day chart I am looking for two consecutive bars with increasing strength after a low to signify the change to bullish, confirmed by PA and or a S/R bounce - opposite for bearish. Any thoughts?

As I was drawing in the vertical lines, I was noticing the times that the trades would be initiated, bearing in mind that I am in California, so these would be :

1. 07:00 - 08:00
2. 08:00 - 09:00
3. 17:00 - 18:00
4. 17:00 - 18:00
5. 07:00 - 08:00

This is where an EA makes sense - I cannot be in front of the screen for long durations, so I would either miss or be late on the entry.

Also on these entries, the biggest drawdown was 80 pips with the pip haul after 7 days coming in at 800pips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusdh1 test.png Size: 72 KB
Click to Enlarge Name: eurusddaily test.png Size: 64 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #859
  • May 30, 2013 4:08pm May 30, 2013 4:08pm
Quoting rexio
Hallo Erebus, Could you explain me how you make such a nice charts ? Do you have a special tool for it ?
Google for SNAGIT, I use the paid version, very handy, easy to use, they have trial version, check it out

It takes a lot for me to IGNORE you, but you can try.
  • #860
  • May 30, 2013 4:19pm May 30, 2013 4:19pm
Quoting Erebus
{quote} Google for SNAGIT, I use the paid version, very handy, easy to use, they have trial version, check it out

Thanks. Will look into it.
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