Third Screen Strategy - Dr. Alexander Elder | Page 58 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Substitute for screen time? 5 replies

Alexander Elder's Channel 4 replies

Elder-Rays 3 replies

Attachments: Third Screen Strategy - Dr. Alexander Elder
Exit Attachments

Third Screen Strategy - Dr. Alexander Elder

  • #1,141
  • Jun 5, 2013 7:00pm Jun 5, 2013 7:00pm
Quoting 100PipsADay
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...

Hi Pip,

Maybe you are right. Just take the bugs out of it and leave the EA as it is.
it takes a lot of time and trouble to make an EA that perfectly fits everybody.
Perhaps we don't need an EA at all. I understand you traded this method the last 2 years without it.

Actually, the way I traded till now, was with and without the Ea. That means: The Ea ran in demo and I looked to it and took trades manually. Then i compared the results. It was a good way to work with it. One is not completely dependent of it. Errors and bugs have no influence. On the other hand, one might miss a few trades when sleeping. But who cares ?
There are enough trade to choose from.

However, the EA must be bugfree. That must be your first concern now. Fancy improvements and changes could be omitted.
  • #1,142
  • Jun 5, 2013 7:22pm Jun 5, 2013 7:22pm
Quoting rexio
{quote} However, the EA must be bugfree. That must be your first concern now. Fancy improvements and changes could be omitted.
Quite right.
  • #1,143
  • Jun 5, 2013 7:24pm Jun 5, 2013 7:24pm
Quoting soccerfan
{quote} {quote} Hi WHATFX...thanks for your post, it is an interesting observation...the Aussie dollar has been Bearish for a month now, the "experts" here in Oz are predicting that it will fall further, Who is buying AUD????...the EA is..!!!! I guess the daily MACD will take a few days to move down to signal the sell signals, I have just woken...midnight U. K. time and the AUD has gone back up a bit..... I created Entry Orders on DEMO as per the 100 pips rules ( MANUALLY ), 24 hours ago and I am pleased with the performance now ( Midnight...
Well done mate.
  • #1,144
  • Jun 5, 2013 7:41pm Jun 5, 2013 7:41pm
Thanks TOK....( i have re posted )

I am hugely impressed with the 100pips strat after 24 hours....

I created Entry Orders manually yeasterday and here is the screen

Attached Image (click to enlarge)
Click to Enlarge Name: june 6 2.png Size: 53 KB


Thanks to you all and HAPPY TRADING...
Onwards and upwards...
  • #1,145
  • Jun 5, 2013 9:01pm Jun 5, 2013 9:01pm
Cut my losses short on the AUDUSD. The Australian Reserve Bank is trying to depreciate the currency, so the EMA crew had the correct signal.
  • #1,146
  • Edited 9:16pm Jun 5, 2013 9:15pm | Edited 9:16pm
attachment
Quoting normtold
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...
A. Awhile being 3 weeks on DEMO, not that long. I have had the EA set on the 6 hour delay, not sure why I decided to try that, probably to get more trades as I'm a greedy so & so.

I believe that 100_pips is trialing both 6 & 12 hours setting, so watch his posts closely for any results of that. Speaking of results, he has already posted volumes of reports, read those as he is making serious PIPS.

B. Why will I disable the EA, I am testing it, do that and you will miss the big move for sure; for a real account, sure I would intervene, 100_pips has said that many times.

C. Wait for the stop loss, it is only DEMO, I want to see what happens, what is the draw down in real life! The AUD-USD is in such a place right now, see the chart, it has just buy another position while it is only few pips from first stop loss.

I think I prefer the 20/50 EMA, with small stops & take profits, more my style.

BTW, I made money yesterday being SHORT the AUD-USD on live account.

Watch both of these EA's for some time and you will get a good feel for how the market is going.

Attached Image (click to enlarge)
Click to Enlarge Name: 0073.png Size: 53 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,147
  • Jun 5, 2013 9:21pm Jun 5, 2013 9:21pm
Quoting Erebus
attachment {quote} A. Awhile being 3 weeks on DEMO, not that long. I have had the EA set on the 6 hour delay, not sure why I decided to try that, probably to get more trades as I'm a greedy so & so. I believe that 100_pips is trialing both 6 & 12 hours setting, so watch his posts closely for any results of that. Speaking of results, he has already posted volumes of reports, read those as he is making serious PIPS. B. Why will I disable the EA, I am testing it, do that and you will miss the big move for sure; for a real account, sure I would intervene,...
The third screen method indicated to go long on the AUDUSD, whilst the EMA indicated short (correct decision).
  • #1,148
  • Jun 5, 2013 10:09pm Jun 5, 2013 10:09pm
I had a trade hit TP for the first time tonight since I started using the strategy. I had a mini heart attack for moment because it wasn't in my open orders. But then I noticed it closed at TP. I had a big grin on my face. I have since opened up 3 more positions and they are doing good as well.

Thank you again 100pips for introducing this and everyone else for contributing.
  • #1,149
  • Jun 5, 2013 10:24pm Jun 5, 2013 10:24pm
Quoting Tok
{quote} The third screen method indicated to go long on the AUDUSD, whilst the EMA indicated short (correct decision).
Tok,

I am well aware of that - this is the Third Screen thread after all, and I posted a chart with MACD on it and no EMA's

I was responding to a specific question from normtold namely:

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?

... so I'm not quite sure why you have interjected this seemingly random comment!
It takes a lot for me to IGNORE you, but you can try.
  • #1,150
  • Jun 5, 2013 10:36pm Jun 5, 2013 10:36pm
Quoting Erebus
{quote} Tok, I am well aware of that - this is the Third Screen thread after all, and I posted a chart with MACD on it and no EMA's I was responding to a specific question from normtold namely: 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? ... so I'm not quite sure why you have interjected this...
My apologies. I thought you were just making a statement.
  • #1,151
  • Jun 6, 2013 12:26am Jun 6, 2013 12:26am
Thanks for the reply Erebus, I prefer this strategy to the EMA's.

I was sitting here watching CAD/JPY wondering why it is not adding a 4th sell as D1 MACD is Red, H1 williams O/B (not anymore) then realised it is because the last opened sell was 26 hours ago so it wont open another sell until at least 30 hours have passed.
  • #1,152
  • Jun 6, 2013 2:06am Jun 6, 2013 2:06am
LIVE ACCOUNT

1st Attachment: Today's Closed Positions
2nd Attachment: Current Open Positions
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Closed_Positions.png Size: 62 KB
Click to Enlarge Name: Open_Positions.png Size: 92 KB
  • #1,153
  • Jun 6, 2013 2:11am Jun 6, 2013 2:11am
100 Pips , Do u leave trailing stop at 100.0 as it is ? Malcolm . i got 320 pips first time, thanks so much , I m deeply appreciate it ,
  • #1,154
  • Jun 6, 2013 2:13am Jun 6, 2013 2:13am
Quoting terminator12
100 Pips , Do u leave trailing stop at 100.0 as it is ? Malcolm . i got 320 pips first time, thanks so much , I m deeply appreciate it ,

I DO NOT USE trailing stop EVER! I set it at 500 because I had it activate one time on me (I don't know why, maybe a bug) so I set it at 500 that way it will never really come into play.
  • #1,155
  • Jun 6, 2013 2:15am Jun 6, 2013 2:15am
Quoting 100PipsADay
{quote} I DO NOT USE trailing stop EVER! I set it at 500 because I had it activate one time on me (I don't know why, maybe a bug) so I set it at 500 that way it will never really come into play.
That's why . Ok ill put all in 500.0 , thanks
  • #1,156
  • Jun 6, 2013 2:17am Jun 6, 2013 2:17am
Quoting terminator12
{quote} That's why . Ok ill put all in 500.0 , thanks
You're welcome.
  • #1,157
  • Jun 6, 2013 3:16am Jun 6, 2013 3:16am
Quoting 100PipsADay
LIVE ACCOUNT 1st Attachment: Today's Closed Positions 2nd Attachment: Current Open Positions {image} {image}
That is a great post 100pips....nice...!!! Hope you don't mind a few questions

Is that live account taking in the ema thread trades too..???

were all of these on EA , or have you manually traded too..??

( please forgive me if this Q has been asked before as I am trying to match your trades with my EA trades, thanks)

Great work BTW...
Onwards and upwards...
  • #1,158
  • Jun 6, 2013 3:36am Jun 6, 2013 3:36am
Hi everybody.

First, 100PipsADay, a big thank you for sharing this strategy . It fits perfectly with my personality.
For now, I trade it manually.

Thanks Khaled_ctg for the EA. I tried to test it on a demo account : seems I need assistance.
By installing the EA, is it normal that a new position is not taken ? (see attached image : I think everything is correctly installed)

Thanks in advance to everybody
Attached Image (click to enlarge)
Click to Enlarge Name: 20130606-01.png Size: 416 KB
  • #1,159
  • Jun 6, 2013 4:00am Jun 6, 2013 4:00am
Quoting 100PipsADay
{quote} 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...
. Morning pippy. I saw that area of resistance on the weekly as well.
  • #1,160
  • Jun 6, 2013 4:04am Jun 6, 2013 4:04am
Quoting 100PipsADay
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...
Are you using the earlier version of the EA that uses the MACD3SS pippy?
2 traders viewing now