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Third Screen Strategy - Dr. Alexander Elder

  • #1,101
  • Jun 5, 2013 2:45am Jun 5, 2013 2:45am
Erebus do you mind if I pick your brains?


I understand you have been trading this strategy for a while now, do you prefer the 6 or 12 hour delay?


Something I noticed is that when the EA starts to open positions price can keep coming back to that same level and opening many positions every 6 or 12 hours at roughtly the same level, in your opinion is it advisable to disable the EA until price moves away either up or down from that level to space the 8 positions out more?


I am at the PC all day so am able to intervene.


If MACD D1 is up/blue and you have been taking buy positions on the H1 and the D1 MACD changes to down/red do you like 100pips wait for the positions to either hit T/P or S/L or like some have mentioned close out all positions even if they are winning or losing and let the EA start opening sell trades?
  • #1,102
  • Jun 5, 2013 3:04am Jun 5, 2013 3:04am
Hi Mr Pippy

What I have found conflicting is this........ I opened the Ea prior to Asian opening Monday morning Australian time with 12 pairs as it stands at the moment the acc is + 1900 pips yet when I see your trade explorer your A / U is a sell and mine is a buy with this EA......... now I just had a look at the 20 / 50 system and it is also a sell ?? any ideas ???? I know Erebus found that the 20/50 system was a sell and this one was a buy .


Thanks James
  • #1,103
  • Edited 4:14am Jun 5, 2013 3:41am | Edited 4:14am
Quoting rexio
probably there is something wrong here. The triangle for the direction of the macd D1 is down and red, whereas the macd_ajustable is positve and green. Also, the EA makes a sell. This is not good. The daily macd is UP, so the EA should seek for buys. It would be easier , if the EA had a version number. What version am I running here ? {image}
This was what I was eluding to yesterday. The MACD and EA is not lining up correctly. I would also like to know how the trades are triggered with this EA when PA doesn't even hit OB/OS. I had A/J and E/A open new positions overnight but none ever came close to the ob/os territory. Only came to the 50% line. I'm going to download the previous version EA and test it until the bugs have been fixed on the current.
  • #1,104
  • Jun 5, 2013 3:50am Jun 5, 2013 3:50am
Quoting khidir
Hi Mr Pippy What I have found conflicting is this........ I opened the Ea prior to Asian opening Monday morning Australian time with 12 pairs as it stands at the moment the acc is + 1900 pips yet when I see your trade explorer your A / U is a sell and mine is a buy with this EA......... now I just had a look at the 20 / 50 system and it is also a sell ?? any ideas ???? I know Erebus found that the 20/50 system was a sell and this one was a buy . Thanks James
My AUD/USD SELL positions were from late last week when MACD was still in Down trend. Simple as that.
  • #1,105
  • Jun 5, 2013 3:51am Jun 5, 2013 3:51am
Quoting 100PipsADay
Demo test utilizing EA is only 2 weeks old but have really only been testing for a week or so. Over 5,000 pips profit giving a return of over 20% in that short amount of time... I couldn't ask for more. Folks, if you aren't already trading this strategy live and making money with it you may seriously want to consider doing so. This month is off to a great start with my live accounts as well and we are less than a week in to June!
great result.
is it a complete "set it and forget it" demo test ?
or do you manualy close some positions ?

thanks for these great thread.
  • #1,106
  • Jun 5, 2013 3:55am Jun 5, 2013 3:55am
Quoting kazekase
{quote} great result. is it a complete "set it and forget it" demo test ? or do you manualy close some positions ? thanks for these great thread.

I haven't manually intervened with this particular demo test yet but I assure you I will in the near future if I need to. However, I'll post when I do and for what reason.
  • #1,107
  • Jun 5, 2013 4:01am Jun 5, 2013 4:01am
Quoting 100PipsADay
{quote} I haven't manually intervened with this particular demo test yet but I assure you I will in the near future if I need to. However, I'll post when I do and for what reason.
ok thanks
  • #1,108
  • Jun 5, 2013 4:30am Jun 5, 2013 4:30am
Quoting khaled_ctg
Hello Everybody, It seems you are facing problem with EA. I got several PM. I send an update to 100PipsADay. I don't know whether he posted it or you guys using it. I found MACD is not functioning well. I was trying to incorporate MACD within the EA. But it works only one direction i.e BUY. It needs time to fix the problem. It is advised to all to use the earlier version of the EA along with MACD3SS. Kind regards, Khaled
I would like to make a suggestion to downsize the EA credits, and move the text to corner #2 (Bottom left) if possible with the next update. Thank you khaled.
  • #1,109
  • Jun 5, 2013 4:45am Jun 5, 2013 4:45am
Quoting 100PipsADay
Demo test utilizing EA is only 2 weeks old but have really only been testing for a week or so. Over 5,000 pips profit giving a return of over 20% in that short amount of time... I couldn't ask for more. Folks, if you aren't already trading this strategy live and making money with it you may seriously want to consider doing so. This month is off to a great start with my live accounts as well and we are less than a week in to June!
you see the problem is 100pips, you trade well over 20 pairs. not all of us can do that. i only trade a maximum of about 5 pairs. so my results will be different to yours . we cant be earning as many pips as you are, in fact we could even be in the red, while you are making a profit. so, one has to take that into consideration before using this strategy...

presently i only have one position open long audusd. daily turned blue, 1 hr williams was oversold (yesterday).
  • #1,110
  • Jun 5, 2013 4:52am Jun 5, 2013 4:52am
Quoting whatfx
{quote} you see the problem is 100pips, you trade well over 20 pairs. not all of us can do that. i only trade a maximum of about 5 pairs. so my results will be different to yours . we cant be earning as many pips as you are, in fact we could even be in the red, while you are making a profit. so, one has to take that into consideration before using this strategy... presently i only have one position open long audusd. daily turned blue, 1 hr williams was oversold (yesterday).
100pip is merely trying to demonstrate how efficient the system is. Everyone should do well regardless of how many pairs they are trading, and how much time they have dedicated to FX. Results will vary but what's important is the system works. GL.
  • #1,111
  • Edited 5:55am Jun 5, 2013 5:41am | Edited 5:55am
Quoting 100PipsADay
Demo test utilizing EA is only 2 weeks old but have really only been testing for a week or so. Over 5,000 pips profit giving a return of over 20% in that short amount of time...
Sounds good but without sounding negative one has to say that:
- the account is still in negative (Balance minus 500)
- this is not realized profit yet (at the moment 24% floating profit) which in worst case could turn into an overall loss.


Still much success and all the best

Cheers

Ati


100PipsADay
If I may -just a question:
- if I recall correctly you tarded this for about 1 1/2 year live: dud you have also so many simultaneous open trades? Or is the Demo an exception at the moment?
- what (if any reason) where the criteria to choose this particular pairs: e.g. correlation, spread good trending in the past ...?
Money is important, Love is essential.
  • #1,112
  • Edited 6:47am Jun 5, 2013 6:04am | Edited 6:47am
Pippy,
Just want to confirm that EA is suppose to only open trades once PA reaches OB/OS. At some point does it add onto positions outside that parameter?

I had E/A, A/J and CAD/J open trades although it's in profit, it was opened last night and William % never even came close to crossing the 50% line. It bounced off the 50% line and all three trades opened there. Is this an error in the new EA? I have since uploaded and using first version EA.

Also, the max position of 8 is that for each pair the EA is running on?
  • #1,113
  • Jun 5, 2013 6:53am Jun 5, 2013 6:53am
Khaled, I have a feeling that the EA I am using (the first one that needs MACD3SS in the indicators folder) may have a bug with regard to the time delay.


I have a EUR/USD long open from 8am yesterday and have my time delay at 6 hours, this morning it was not opening another long when the H1 Williams% was in oversold even though it was over 24 hours since the last one. It did finally open another long at 2pm, 30 hours after the first one (my platform is + 2) so it looks like it is just looking at the time and not the date.


Not a complaint, just an observation.
  • #1,114
  • Jun 5, 2013 6:57am Jun 5, 2013 6:57am
Quoting MKFXTrader
Pippy, Just want to confirm that EA is suppose to only open trades once PA reaches OB/OS. At some point does it add onto positions outside that parameter? I had E/A, A/J and CAD/J open trades although it's in profit, it was opened last night and William % never even came close to crossing the 50% line. It bounced off the 50% line and all three trades opened there. Is this an error in the new EA? I have since uploaded and using first version EA. Also, the max position of 8 is that for each pair the EA is running on?

I think this was answered a few times, here is the last time.


Post 1031 on this page http://www.forexfactory.com/showthre...382032&page=52


Later someone posted a Williams% with an alert to know exactly when it went into OB/OS.
  • #1,115
  • Jun 5, 2013 7:06am Jun 5, 2013 7:06am
Quoting normtold
{quote} I think this was answered a few times, here is the last time. Post 1031 on this page http://www.forexfactory.com/showthre...382032&page=52 Later someone posted a Williams% with an alert to know exactly when it went into OB/OS.
That does not address my questions. I know how to trade the system, as I have been doing it manually for quite some time as well as following the thread. My question is on the EA's behaviour, as this is the first time I am testing this EA.
  • #1,116
  • Jun 5, 2013 7:07am Jun 5, 2013 7:07am
Quoting normtold
Khaled, I have a feeling that the EA I am using (the first one that needs MACD3SS in the indicators folder) may have a bug with regard to the time delay. I have a EUR/USD long open from 8am yesterday and have my time delay at 6 hours, this morning it was not opening another long when the H1 Williams% was in oversold even though it was over 24 hours since the last one. It did finally open another long at 2pm, 30 hours after the first one (my platform is + 2) so it looks like it is just looking at the time and not the date. Not a complaint, just an...
Hi normtold,
Your observation is correct. The EA calculates the timedifference and doesn't consider date. Its not a bug but it needs more tuning. And there are lot of things to be fine tuned.

I think its not a major problem to implement or understand the "Third Screen Strategy". The main intention of this EA is to introduce the "Third Screen Strategy" to the traders.

Regards,
Khaled
KISS - Keep It Simple Smart !!!!
  • #1,117
  • Jun 5, 2013 7:24am Jun 5, 2013 7:24am
Quoting khaled_ctg
{quote} Hi normtold, Your observation is correct. The EA calculates the timedifference and doesn't consider date. Its not a bug but it needs more tuning. And there are lot of things to be fine tuned. I think its not a major problem to implement or understand the "Third Screen Strategy". The main intention of this EA is to introduce the "Third Screen Strategy" to the traders. Regards, Khaled
Many thanks for the reply Khaled, I was not sure if you were aware that's all.
  • #1,118
  • Jun 5, 2013 7:49am Jun 5, 2013 7:49am
EA (version with MACD3SS) have good results,so use that version.Several days ago I said YOU HAVE GOOD STRATEGY,TRADE IT MANUALLY!
  • #1,119
  • Jun 5, 2013 9:02am Jun 5, 2013 9:02am
Quoting MKFXTrader
Pippy, Just want to confirm that EA is suppose to only open trades once PA reaches OB/OS. At some point does it add onto positions outside that parameter? I had E/A, A/J and CAD/J open trades although it's in profit, it was opened last night and William % never even came close to crossing the 50% line. It bounced off the 50% line and all three trades opened there. Is this an error in the new EA? I have since uploaded and using first version EA. Also, the max position of 8 is that for each pair the EA is running on?
EA is supposed to only open trades once Price reaches OB/OS, under the corresponding condition of macd.
if not, then there is a bug.

You can set the max position you like to trade. You do this at startup. It is the maximum number of trades per pair.
You set up an EA chart for every pair you want to trade. Hence, this maximum number applies to that pair.
For this moment I prefer to keep it at 4.
  • #1,120
  • Jun 5, 2013 9:03am Jun 5, 2013 9:03am
Still manually forward testing in my live account, so these are all manual entries and will be managed manually. These 3 were taken yesterday evening (PDT) as the H1 hit its respective oversold / overbought region on each of the 3 with the H1 chart and the Williams indicator. Combined pips for the night is currently 300.

Not too shabby

100pips - enjoying this very much

Khaled - I will get to running the EA eventually - promise
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud usd 6-5-2013.gif Size: 69 KB
Click to Enlarge Name: gbpnzddaily 6-5-2013.png Size: 54 KB
Click to Enlarge Name: nzdusddaily 6-5-2013.png Size: 56 KB
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