Third Screen Strategy - Dr. Alexander Elder | Page 57 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #1,121
  • Edited 9:30am Jun 5, 2013 9:15am | Edited 9:30am
Quoting Britpip7
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 {image} {image} {image}
Congrats Brit. I have also had success trading manually, but just started testing this EA overnight. EA is currently up over 500+ pips. Test the EA but use the first version. GL
  • #1,122
  • Jun 5, 2013 9:17am Jun 5, 2013 9:17am
Quoting rexio
{quote} 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.
rexio,
That's what I thought. There is a bug in the second version of EA. Opening positions without William%R even coming close to OB/OS. I've since reverted back to the original EA. Seems to be doing better and opening where it's suppose to. Cheers
  • #1,123
  • Jun 5, 2013 9:25am Jun 5, 2013 9:25am
So far the EMA crew is winning on the AUDUSD.

But we will see who wins in the end.
  • #1,124
  • Edited 1:45pm Jun 5, 2013 10:21am | Edited 1:45pm
I too was trading this strategy manually but was missing trades while sleeping and not at the PC. Very pleased with the EA.



I am trading with £4300, 9 pairs using 0.01 lots and have made 3% this week. Very pleased with that, not counting my chickens because I know there will be losing weeks too.



100pips, what is your view on GBP/AUD?



I don't know if you take PASR into account with this strategy or not.

GBP/AUD is reaching some strong resistance and MACD is blue, all my positions have closed out for T/P today and currently have none open.


GBP/NZD had over 400 pips range today, I do not see that pair in your explorer but you mentioned before you like it.
  • #1,125
  • Jun 5, 2013 10:52am Jun 5, 2013 10:52am
Quoting Britpip7
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 {image} {image} {image}
That style!
  • #1,126
  • Jun 5, 2013 12:31pm Jun 5, 2013 12:31pm
Sorry for the newbie question earlier. I got confused between the what Dr. Elder mentioned and how 100pips used the MACD but all is good now.

I am trading manually as well. I too am encountering the problem of missing entries being at work or away from the computer. Although I would hardly call it a problem. What I started doing was writing down the Daily trend of a few pairs on paper and keep it in my pocket. I have MT4 on my phone and I can use the W% indicator on it to look for entries into trades. I got into CAD/JPY this way and currently am up 81 pips.

Overall I am up 600 pips trading manually. It jumped up to 750 pips earlier. Couldn't be happier
  • #1,127
  • Jun 5, 2013 12:34pm Jun 5, 2013 12:34pm
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).
No I only had 12 pairs, and I actually stopped trading 2 of them so there are only a total of 10 pairs. I remember talking to you about trading smaller lot sizes in order to allow you to trade more pairs. Are you doing that yet?
  • #1,128
  • Jun 5, 2013 12:40pm Jun 5, 2013 12:40pm
Quoting Ati Baia
{quote} 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...
Equity is more important than balance from what I can tell...

I have ALWAYS traded multiple currency pairs with multiple positions at one time, that is how one spreads out their risk and experiences steady growth over the long run.

Have a look, since the time of your writing positions have closed in profit and now balance is up almost 10%...
  • #1,129
  • Jun 5, 2013 1:14pm Jun 5, 2013 1:14pm
Quoting 100PipsADay
{quote} Equity is more important than balance from what I can tell... I have ALWAYS traded multiple currency pairs with multiple positions at one time, that is how one spreads out their risk and experiences steady growth over the long run. Have a look, since the time of your writing positions have closed in profit and now balance is up almost 10%...
Great week this week. Hope you're doing well pippy.
  • #1,130
  • Jun 5, 2013 2:04pm Jun 5, 2013 2:04pm
As part of the testing manually, this was a late entry - missed the initial oversold hit as I am only in front of the screen for a few hours each day (if only there was an EA that I could use )

SL was initially set at 260 pips, with TP not set. Now that the trade has reached 320pips, I have set a 50pip TS so now have 330pips locked in.

Slight variations on the "certified" method until I run with the EA.
Attached Image (click to enlarge)
Click to Enlarge Name: tri screen GBP NZD 6-5-2013.gif Size: 71 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,131
  • Jun 5, 2013 2:09pm Jun 5, 2013 2:09pm
Quoting Britpip7
As part of the testing manually, this was a late entry - missed the initial oversold hit as I am only in front of the screen for a few hours each day (if only there was an EA that I could use ) SL was initially set at 260 pips, with TP not set. Now that the trade has reached 320pips, I have set a 50pip TS so now have 330pips locked in. Slight variations on the "certified" method until I run with the EA. {image}
Congrats. I took that same trade and my TP of 320 pips hit while I was out.
  • #1,132
  • Jun 5, 2013 2:21pm Jun 5, 2013 2:21pm
Quoting Britpip7
As part of the testing manually, this was a late entry - missed the initial oversold hit as I am only in front of the screen for a few hours each day (if only there was an EA that I could use ) SL was initially set at 260 pips, with TP not set. Now that the trade has reached 320pips, I have set a 50pip TS so now have 330pips locked in. Slight variations on the "certified" method until I run with the EA. {image}

Excellent work BritPip! The 50 pip TS AFTER 320 pips is a good idea! Gives you the chance to bank even more pips on current trend but guarantees you original TP!

Nice work!
  • #1,133
  • Jun 5, 2013 2:24pm Jun 5, 2013 2:24pm
Quoting MKFXTrader
{quote} Great week this week. Hope you're doing well pippy.

This month has been very good to me so far! I might be finally get my car I want (E63 AMG) by Summer's end afterall
  • #1,134
  • Jun 5, 2013 2:31pm Jun 5, 2013 2:31pm
Quoting 100PipsADay
{quote} This month has been very good to me so far! I might be finally get my car I want (E63 AMG) by Summer's end afterall
I'm extremely happy for you my friend.


You have no idea how thankful I am to have someone like you mentor me. I have learned so much from your strategy, and even after my many annoyances, you STILL help everyone and answer questions. I am very thankful.
  • #1,135
  • Jun 5, 2013 2:39pm Jun 5, 2013 2:39pm
Quoting 100PipsADay
{quote} This month has been very good to me so far! I might be finally get my car I want (E63 AMG) by Summer's end afterall
!00Pips Please send us photo of car u will buy , The only car i want is Audi R8
  • #1,136
  • Jun 5, 2013 2:43pm Jun 5, 2013 2:43pm
Quoting Tok
{quote} I'm extremely happy for you my friend. You have no idea how thankful I am to have someone like you mentor me. I have learned so much from your strategy, and even after my many annoyances, you STILL help everyone and answer questions. I am very thankful.
You're welcome Tok. I hope you will also become a profitable trader in the very near future!
  • #1,137
  • Jun 5, 2013 6:19pm Jun 5, 2013 6:19pm
Hi Khaled,

In the next version of the EA :
Could you omit the 2 red lines in the chart ? It disturbs the view of it.
I do not need to see your email all the time. If I want, I can reach you by PM.

Also, could you give the EA a version number ( hard coded) ?

Another wish is : Make the info for the W%R always a yellow cross, except when it is a Buy or a Sell.
In other words : replace the yellow triangle with a yellow cross. This makes the interpretation
much more simple to understand. (It is OR a cross OR it is action). Of course the cross means : No action.

Thanks.
  • #1,138
  • Jun 5, 2013 6:35pm Jun 5, 2013 6:35pm
Quoting normtold
I too was trading this strategy manually but was missing trades while sleeping and not at the PC. Very pleased with the EA. I am trading with £4300, 9 pairs using 0.01 lots and have made 3% this week. Very pleased with that, not counting my chickens because I know there will be losing weeks too. 100pips, what is your view on GBP/AUD? I don't know if you take PASR into account with this strategy or not. GBP/AUD is reaching some strong resistance and MACD is blue, all my positions have closed out for T/P today and currently have none open. GBP/NZD...

I am currently flat with GBP/AUD as I have made over 1,100 pips in the past 2 weeks and like you said, it has come to a significant area of resistance. Even if it moves higher I won't be concerned about missing out on a few hundred pips but what I'm really waiting for is to ride the next trend down. Just need to be patient...
  • #1,139
  • Jun 5, 2013 6:38pm Jun 5, 2013 6:38pm
Quoting rexio
Hi Khaled, In the next version of the EA : Could you omit the 2 red lines in the chart ? It disturbs the view of it. I do not need to see your email all the time. If I want, I can reach you by PM. Also, could you give the EA a version number ( hard coded) ? Another wish is : Make the info for the W%R always a yellow cross, except when it is a Buy or a Sell. In other words : replace the yellow triangle with a yellow cross. This makes the interpretation much more simple to understand. (It is OR a cross OR it is action). Of course the cross means :...

If I may suggest Rexio, try and focus more on making money with this strategy instead of always trying to program or fine tune something that isn't broken. Why waste any time or energy trying to program things when you can make money trading currencies?

It doesn't make sense to me...

Khaled has done enough and I am more than satisfied with the EA. This is supposed to be a simple, powerful, and profitable strategy. Let's try and keep it that way.
  • #1,140
  • Jun 5, 2013 6:47pm Jun 5, 2013 6:47pm
Over 8,000 pips in 2 weeks!!!!

Guys, do you really think we still need to be making changes or "fine tuning" the system available at hand? Or maybe should we all start applying this strategy to our live accounts in order to generate more income?

2 Options:

1) Let's program more options into the EA, make more changes, and bounce ideas back and forth
2) Take this already proven and profitable strategy and apply it to our live accounts and MAKE MONEY!

I don't know about you folks but I like option 2 a little more... Trade it or don't, the choice is yours, but we are not making any more changes to this strategy.

The EA Khaled has programmed for us already made 8,000 pips in 2 weeks without any human intervention, do we really want to change this in any way, shape, or form?
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