Third Screen Strategy - Dr. Alexander Elder | Page 54 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #1,061
  • Jun 4, 2013 11:32am Jun 4, 2013 11:32am
So many simple idotic newbie questions on this thread, it's unbelievable. People, if you don't know how to handle the simplest of functions, you SHOULDN'T be trading. Go to babypips.com
  • #1,062
  • Jun 4, 2013 11:41am Jun 4, 2013 11:41am
Quoting MKFXTrader
So many simple idotic newbie questions on this thread, it's unbelievable. People, if you don't know how to handle the simplest of functions, you SHOULDN'T be trading. Go to babypips.com
  • #1,063
  • Jun 4, 2013 11:59am Jun 4, 2013 11:59am
Keep in mind...if it were not for the "dumb money" you probably would NOT be making money...

Sjc
  • #1,064
  • Jun 4, 2013 12:04pm Jun 4, 2013 12:04pm
...and dumb is managed by retail $$$ through to managed $$$ .no disrespect intended
  • #1,065
  • Jun 4, 2013 12:14pm Jun 4, 2013 12:14pm
Quoting MKFXTrader
So many simple idotic newbie questions on this thread, it's unbelievable. People, if you don't know how to handle the simplest of functions, you SHOULDN'T be trading. Go to babypips.com


or read this...

insomnia is a terrible thing 03:13

Attached File(s)
File Type: pdf FAQ Third Screen EA.pdf   402 KB | 657 downloads
It takes a lot for me to IGNORE you, but you can try.
  • #1,066
  • Jun 4, 2013 12:19pm Jun 4, 2013 12:19pm
Quoting Erebus
{quote} or read this... insomnia is a terrible thing 03:13 {image}

Excellent work Erebus!

I'm going to attach this to the very first thread. Any questions that people have we'll just say "refer to FAQ attachment in post #1"

Hopefully this will eliminate the repetition that has been going on here...

Thanks for your help buddy!
  • #1,067
  • Jun 4, 2013 12:39pm Jun 4, 2013 12:39pm
Small update. I can't check my charts because I'm still at work but I think I know where I messed up. I have 10 trades open and 2 are in the negative. I think I simply got the daily trend wrong. If I remember correctly I entered the trades while MACD was changing and it very well may have chnaged right back. Ill check when I get home. So if my other trades go even half way to TP then ill be good!
  • #1,068
  • Jun 4, 2013 12:48pm Jun 4, 2013 12:48pm
Traders,

Everybody needs to carefully read through this post, some may need to read it a few times... You might even want to Bookmark this post if possible as it is more or less a "one stop shop ' for this strategy!

First things first, Khaled has spent more time programming this strategy into an EA which DOES NOT require the MACD3SS file any longer. If you would like the updated version you can download it here. No other changes were made, he simply incorporated the MACD Adjustable indicator into the EA for our benefit.

You simply install the Third Screen Strategy - D1 MACD file into your Expert Advisor folder. Load the 100PipsADay template (if you want) and load the EA to each pair you plan on trading. Set "True" to activate the EA for that particular pair, set Stop Loss, set Take Profit, set Max Positions, set Delay to 6 hours (or change that to whatever you want) and DO NOT use a Trailing Stop. I almost always wait for stop loss or take profit target to be reached, I don't like to close positions early!

If you have any questions please refer to the Third Screen Strategy FAQ document which Erebus was kind enough to put together for all of us.

You will find our updated Third Screen Strategy EA as well as the FAQ document attached to this post. I've also attached all of the necessary files to run the 100PipsADay template. I've said this many times before, if you have any questions please read through the last 20-30 pages or so and you will find EVERYTHING that you are looking for in regards to this strategy along with charts for a visual aide.

Many already know that this system is simple, powerful, proven, and profitable and is a system that I have been using to generate more than $10k a month with for almost a whole year now! If you can't spend a few hours reading through the past 20-30 pages to try and figure things out on your own then you have no business trading.

One more time: This strategy utilizes the D1 MACD for the overall trend and will find entry points using the H1 Williams % indicator. That's it!

Most Frequently Traded Pairs (statistics and stop loss / take profit parameters): http://www.forexfactory.com/showthre...11#post6577111

This post is all anybody will ever need to successfully trade this system. Refer to the attachments for MT4 files. Refer to link for recommended pairs to trade and SL / TP parameters. Refer to text of this post for simple instructions as well as my Fair Warning To All...

Fair Warning To All: If I see questions asked here that have already been answered I will simply put you on my ignore list and block your posting privileges in this thread! I'm serious, spend the necessary time to succeed. I have already laid out a proven strategy in detail and have been more than patient with everybody here. It's not fair to the people who are serious about making money trading currencies to have to spoon feed those not willing to take control of their own financial situation. I will post the link to our most Frequently Traded Pairs which will include recommended SL and TP parameters one more time HERE.

Happy Trading!
Attached File(s)
File Type: ex4 Third Screen Strategy - D1 MACD.ex4   16 KB | 776 downloads
File Type: pdf FAQ Third Screen EA.pdf   402 KB | 729 downloads
File Type: tpl 100pipsaday.tpl   3 KB | 764 downloads
File Type: mq4 ATR in Pips 2.mq4   3 KB | 605 downloads
File Type: ex4 MA ribbon filled 2 x 14.ex4   3 KB | 533 downloads
File Type: mq4 MA ribbon filled 2 x 14.mq4   2 KB | 628 downloads
File Type: mq4 macd_adjustable.mq4   4 KB | 833 downloads
  • #1,069
  • Jun 4, 2013 1:05pm Jun 4, 2013 1:05pm
Thanks 100pipsaDay,Khaled and Erebus
  • #1,070
  • Jun 4, 2013 1:19pm Jun 4, 2013 1:19pm
Quoting Erebus
{quote} Must? No, it is not a must, but for the sake of nice clear chart space, and to understand the Indicators & Trading Signals, yes, that is how I do it. Think about, it is a simple 2 step process: Check the Daily chart, we are looking for the MACD Indicator to cross the center line - NO need for the W%R Indicator on the Daily chart, agree? Then, change to 1 Hour chart, looking for Oversold or Overbought condition on the W%R Indicator - NO need for the MACD on the 1 Hour chart, agree? Signal or no signal; trade or no trade? Go to next chart,...
Yes i did realise it thanks
  • #1,071
  • Jun 4, 2013 1:42pm Jun 4, 2013 1:42pm
Quoting rexio
{quote} I do the same as you do. I apply the EA in demo on about 10 pairs. I look to the results and I take trades myself manually according to the strategy. Interesting point : I can't resist to take profits too early sometimes. Later on , I am amazed, how far the real profits could have gone. I wonder, if I will ever reach the TP = 320 pips. I did not pay special attention to the drawdown. We had some during the late evening yesterday and the night, but it all improved. I think it was the first big DD since the EA is running. But well,...
Hey rexio. I think I'm going to take this EA for a spin on demo. Question. Do I need to leave the computer and MT4 on at all times? Any effect when I switch back over to my live account? I don't want it running on my live account at the moment. Thx rexio.
  • #1,072
  • Edited 5:38pm Jun 4, 2013 2:07pm | Edited 5:38pm
Quoting 100PipsADay
Traders, Everybody needs to carefully read through this post, some may need to read it a few times... You might even want to Bookmark this post if possible as it is more or less a "one stop shop ' for this strategy! First things first, Khaled has spent more time programming this strategy into an EA which DOES NOT require the MACD3SS file any longer. If you would like the updated version you can download it here. No other changes were made, he simply incorporated the MACD Adjustable indicator into the EA for our benefit. You simply install the Third...
Pippy,
You have alot of patience. Must be because you are near the beach. Anyways, I had read that your directional bias is once the MACD MA's cross(MACD line and signal line) not necessarily when the histogram falls below or above the zero line. I've been trading the system for awhile with the cross of the two MACD lines. I understood this to be your original method. I noticed the EA is setup on the histogram zero line cross.
  • #1,073
  • Jun 4, 2013 2:07pm Jun 4, 2013 2:07pm
Quoting MKFXTrader
{quote} Hey rexio. I think I'm going to take this EA for a spin on demo. Question. Do I need to leave the computer and MT4 on at all times? Any effect when I switch back over to my live account? I don't want it running on my live account at the moment. Thx rexio.
Hi MKFXTrader,

"for a spin" : i suppose that a spin is a kind of test.
When you run it, wether on demo or alive, the MT4 platform and the computer must be on all the time.
"Any effect when I switch back over to my live account? " : When you will start at your live account, you have to build a new collection of trades from the beginning as it develops in time. if you have only one computer at your disposal, you can download a second entity of MT4 and run one demo version and one live version at the same computer at the same time. This works without problems. Perhaps this is what you want ?
  • #1,074
  • Jun 4, 2013 2:10pm Jun 4, 2013 2:10pm
Quoting rexio
{quote} Hi MKFXTrader, "for a spin" : i suppose that a spin is a kind of test. When you run it, wether on demo or alive, the MT4 platform and the computer must be on all the time. "Any effect when I switch back over to my live account? " : When you will start at your live account, you have to build a new collection of trades from the beginning as it develops in time. if you have only one computer at your disposal, you can download a second entity of MT4 and run one demo version and one live version at the same computer at the same time. This...
Yes. "for a spin" is like a test drive.

I thought about it. Looks like whenever I switch to a different account, the expert advisor turns off, so this actually turns off the EA that was running on the demo account. I may just have two MT4's running on same computer.
  • #1,075
  • Jun 4, 2013 3:58pm Jun 4, 2013 3:58pm
Quoting MKFXTrader
{quote} Yes. "for a spin" is like a test drive. I thought about it. Looks like whenever I switch to a different account, the expert advisor turns off, so this actually turns off the EA that was running on the demo account. I may just have two MT4's running on same computer.

Hi MKF,

When you work on 1 computer, and you change for example to another profile, then the EA's will be interrupted.
So, if you want a test version and a live version, the best is to do the independent second download.
When you login to another account, then it is completely finished with active things on the first account. The only thing that I know of that continues, are the hard stoplosses and profittargets, which you entered into the orderlines. They reside on the server of your provider.
  • #1,076
  • Jun 4, 2013 4:20pm Jun 4, 2013 4:20pm
Quoting rexio
{quote} Hi MKF, When you work on 1 computer, and you change for example to another profile, then the EA's will be interrupted. So, if you want a test version and a live version, the best is to do the independent second download. When you login to another account, then it is completely finished with active things on the first account. The only thing that I know of that continues, are the hard stoplosses and profittargets, which you entered into the orderlines. They reside on the server of your provider.
Ok buddy. It doesn't matter if we leave it on the daily or hourly chart when running this EA, correct?
  • #1,077
  • Jun 4, 2013 4:30pm Jun 4, 2013 4:30pm
Quoting MKFXTrader
{quote} Ok buddy. It doesn't matter if we leave it on the daily or hourly chart when running this EA, correct?
That is affirmative. This EA Always works.
i like especially the template !!!!!!!!_third_screen_strategy_.tpl of Erebus.
You put the EA on the Daily chart, but with one click you can peek into the hourly chart. The EA just continues to work.
Also, with the 2 arrows (green, red or yellow), this EA always gives you the basic information about its 2 indicators macd_daily and W%R_hourly. Combined with the Dashboard program you have a superb overview over all the currencies you run.
  • #1,078
  • Jun 4, 2013 4:31pm Jun 4, 2013 4:31pm
hi to all
TSS placed on 8 D1 chart for following symbols: AUDUSD; EURGBP; EURJPY; EURUSD; GBPUSD; USDCAD; USDCHF; USDJPY @ 13:00 GMT+1 with default values

immediately 5 trades are open GBPUSD buy; AUDUSD buy; USDJPY sell; USDCAD sell; EURJPY sell
around 16:00 2 two more trades are open EURUSD buy; USDCHF sell
later 3 more are open AUDUSD buy; USDJPY sell; EURGBP buy

total 10 trades 150 pips gain

1 complainant: text "TSS EA using D1 MACD-100PipsADay FF Forum" is to big with to vibrant colors
Forex can only be understood backwards, but it must be traded forwards.
  • #1,079
  • Jun 4, 2013 4:47pm Jun 4, 2013 4:47pm
Quoting rexio
{quote} That is affirmative. This EA Always works. i like especially the template !!!!!!!!_third_screen_strategy_.tpl of Erebus. You put the EA on the Daily chart, but with one click you can peek into the hourly chart. The EA just continues to work. Also, with the 2 arrows (green, red or yellow), this EA always gives you the basic information about its 2 indicators macd_daily and W%R_hourly. Combined with the Dashboard program you have a superb overview over all the currencies you run.
One last thing. Have you been testing it on 6 or 12 hours delay? I believe 100 pip has his set on 6 hours.
  • #1,080
  • Jun 4, 2013 4:55pm Jun 4, 2013 4:55pm
Quoting MKFXTrader
{quote} Pippy, You have alot of patience. Must be because you are near the beach. Anyways, I thought the directional bias is once the MACD MA's cross(MACD line and signal line) not necessarily when the histogram falls below or above the zero line. I've been trading the system with the cross of the two MACD lines. I thought this was your original method. I noticed the EA is setup on the histogram zero line cross.

""newbie "" question...?????

http://www.babypips.com/school/macd.html
Onwards and upwards...
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