Third Screen Strategy - Dr. Alexander Elder | Page 63 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #1,241
  • Jun 7, 2013 5:44am Jun 7, 2013 5:44am
Quoting MKFXTrader
{quote} Are you trading the 20/50 strategy or third screen? I would recommend only having the William %R to show on the hourly and MACD only on the daily instead of both on each TF. Just to keep things clean. As for your question, it looks to be a good long entry if you are trading manually. I'm already long. If you are trading the third screen, you don't need the EMA's as the trend is defined by the MACD crossover. Don't go tweaking and fixing things that don't need fixing.
Hello MKFXTrader, thanks for the prompt response, I am not trying to tweak anything regarding the strategy, just got wind of this method yesterday, this system looks very good and promising from my point of trading view even without optimizing(though better entries are possible).

But like every trading system, strategies and reports, I will take what I can if it will improve my trading results, but may stick to my own entry rules unless if the new method has a better entry than the ones I have using, Obviously I wont be posting any other such things here as I will stick the thread rules.

I took a buy on the EURCAD at 1.3580, stop loss 120 pips, Target 1.3783
  • #1,242
  • Jun 7, 2013 6:00am Jun 7, 2013 6:00am
Quoting MKFXTrader
{quote} Are you trading the 20/50 strategy or third screen? I would recommend only having the William %R to show on the hourly and MACD only on the daily instead of both on each TF. Just to keep things clean. As for your question, it looks to be a good long entry if you are trading manually. I'm already long. If you are trading the third screen, you don't need the EMA's as the trend is defined by the MACD crossover. Don't go tweaking and fixing things that don't need fixing.
I agree with you, I have removed the EMAs from Chart to make it clean for this strategy.cheers
  • #1,243
  • Jun 7, 2013 6:29am Jun 7, 2013 6:29am
Quoting Erebus
{quote} If you want a great EA, click on my name to view the Trade Explorer I linked just now
Hello Erebus and all ,

my name is Panos and probably I'm... near you.

I've demo test Third sceen strategy EA (1st version) the last 10 days and results are great till now.

I'm not newbie at trading but newbie with this great strategy.

I have setup everything (I think...) as per 100pipsADay instructions and I have no problem till now. I'm not so good in "Fine tuning" so, I leave it as it is and of course I read carefully every post for future changes.

Erebus, is there any way to contact you because I need a little help/explanations about your Trading Explorer above and also some questions for my current (Third Screen Strategy) setups?? I'm still a "junior" member...

Regards
Panos
  • #1,244
  • Edited 7:18am Jun 7, 2013 6:53am | Edited 7:18am
I may have found another bug in the first EA using MACD3SS. I saw it happened yesterday too. EA has been closing out positions on it's own b4 the TP or SL is hit. I have no idea why but I just came back from a 45 minute walk and before I left, U/J was up 150+ pips and when I came back it was closed for some reason for +171 pips. SL and TP is nowhere near. I have no idea what EA is doing. Did the same with my XAU/USD position. It closed the opened position and opened two additional positions while I was gone. Positioned closed was basically where it had opened and it subsequently opened two more positions near around the same current PA.

I saw this happened yesterday but I thought it was something I did but this happened while I was out walking.

Upon more research, It actually happened to more pairs:

U/J +171 pips
G/CAD -36 pips
CAD/JP +140 pips
E/CAD +8 pips
Gold -1 pip
E/CAD +23 pips
E/USD -18 pips

It then opened two new positions in Gold, E/CAD, G/CAD,
  • #1,245
  • Jun 7, 2013 7:17am Jun 7, 2013 7:17am
Quoting WardStradlat
{quote} Hi rexio, thanks for the answer. First of all, you reassure me : I'm not so silly to install an EA . Secondly, there are two version of the EA ; so I don't understand which one should I use. Now, I use the first, downloaded here (post# 847) and the second here (post# 1,068 or #1), where I encountered a problem : an overload of error message in "FXCM MetaTrader 4>experts>logs"...
I have the same problem
Anybody knows how to solve it?
Ok, the problem solved by applying EA with indi from this post.
Everything is possible!!! Step by Step...
  • #1,246
  • Jun 7, 2013 7:29am Jun 7, 2013 7:29am
Quoting MKFXTrader
I may have found another bug in the first EA using MACD3SS. I saw it happened yesterday too. EA has been closing out positions on it's own b4 the TP or SL is hit. I have no idea why but I just came back from a 45 minute walk and before I left, U/J was up 150+ pips and when I came back it was closed for some reason for +171 pips. SL and TP is nowhere near. I have no idea what EA is doing. Did the same with my XAU/USD position. It closed the opened position and opened two additional positions while I was gone. Positioned closed was basically where...
What are your settings regarding a trailingstop at program startup?
Maybe could you still check what the old Stoploss and TakeProfit were in that order which closed too early ?
Could you check if it was SL = 200 and TP = 320 (your preferred numbers).
  • #1,247
  • Jun 7, 2013 8:11am Jun 7, 2013 8:11am
Quoting rexio
{quote} What are your settings regarding a trailingstop at program startup? Maybe could you still check what the old Stoploss and TakeProfit were in that order which closed too early ? Could you check if it was SL = 200 and TP = 320 (your preferred numbers).
Yes. SL 200 TP 320. TS method is set to 1 which should be No Trailing SL.
  • #1,248
  • Jun 7, 2013 8:44am Jun 7, 2013 8:44am
Quoting MKFXTrader
{quote} Yes. SL 200 TP 320. TS method is set to 1 which should be No Trailing SL.
Then I have no explanation at all. The EA should not look any more after the order, once it has been placed.
At least, that is what I suppose.
The only way to get closed, is when TP or SL gets hit. These TP and SL are in the orderline and hence independent of the EA.

It is a miracle for me, how your orders got closed.

Also , the fact that it opened up 2 again , is alarming. It should open only one. The next one after 6 hours, what is, as I suppose, your delaytime.
  • #1,249
  • Jun 7, 2013 8:48am Jun 7, 2013 8:48am
Quoting rexio
{quote} Then I have no explanation at all. The EA should not look any more after the order, once it has been placed. The only way to get closed, is when TP or SL gets hit. Thes TP and SL are in the orderline and hence independent of the EA. It is a miracle for me, how your orders got closed.
I have no idea either. Trades were opened b4 I left, came back 45 minutes later, and they were closed and new one's were opened.
  • #1,250
  • Jun 7, 2013 8:49am Jun 7, 2013 8:49am
This is what I am seeing on the CAD/JPY

Opposite directions on EUR/CAD and GBP/CAD

CAD employment news was impressive
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: CADJPYDaily.png Size: 63 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,251
  • Jun 7, 2013 9:05am Jun 7, 2013 9:05am
Quoting MKFXTrader
{quote} I have no idea either. Trades were opened b4 I left, came back 45 minutes later, and they were closed and new one's were opened.

Mr Pip and Khaled should be able to give an explanation.
  • #1,252
  • Jun 7, 2013 10:12am Jun 7, 2013 10:12am
Triple TP hits GBP/JPY,AUD/JPY,EUR/JPY ,all yen pairs...Awesome week!
  • #1,253
  • Jun 7, 2013 10:55am Jun 7, 2013 10:55am
Quoting rexio
{quote} Mr Pip and Khaled should be able to give an explanation.
I have no idea.
KISS - Keep It Simple Smart !!!!
  • #1,254
  • Edited 11:50am Jun 7, 2013 11:40am | Edited 11:50am
Quoting 100PipsADay
{quote} My most favorite pairs to trade using this strategy are GBP/AUD, EUR/AUD, AUD/JPY, CAD/JPY, NZD/JPY, NZD/USD, AUD/USD, GBP/USD, and EUR/CAD. If I were you I would trade the first 4 pairs that I mentioned above. I prefer a 260 SL and 320 TP targets for GBP/AUD and EUR/AUD. For AUD/JPY and CAD/JPY a 160 SL and 280 TP works great!
Pip,
Any changes to this preferred list of pairs you trade? Besides being on the sidelines with G/A, are there any other changes? Also, have you experience trading EUR/NZD or GBP/NZD? Thx pip.
  • #1,255
  • Jun 7, 2013 11:51am Jun 7, 2013 11:51am
Quoting MKFXTrader
{quote} Pip, Any changes to this preferred list of pairs you trade? Besides being on the sidelines with G/A, are there any other changes? Have you experience trading EUR/NZD or GBP/NZD? Thx pip.

Attached is my top 10 favorite pairs to trade with the trend strategies.

I also like trading GBP/NZD and have experienced excellent results but not EUR/NZD so much...

All 10 pairs are currently disabled with the EA after such a nice run up in pips and % so I will wait the next few days / weeks out until I see fit.
Attached Image (click to enlarge)
Click to Enlarge Name: 10_pairs.png Size: 3 KB
  • #1,256
  • Edited 12:20pm Jun 7, 2013 11:55am | Edited 12:20pm
Quoting 100PipsADay
{quote} Attached is my top 10 favorite pairs to trade with the trend strategies. I also like trading GBP/NZD and have experienced excellent results but not EUR/NZD so much... All 10 pairs are currently disabled with the EA after such a nice run up in pips and % so I will wait the next few days / weeks out until I see fit. {image}
Thanks pip. It's been a really good week. Have a great weekend.
  • #1,257
  • Jun 7, 2013 12:03pm Jun 7, 2013 12:03pm
Quoting MKFXTrader
{quote} Thanks pip. It's been a really good week. Have a great weekend.
Yes it has! Enjoy the weekend buddy!
  • #1,258
  • Jun 7, 2013 12:14pm Jun 7, 2013 12:14pm
Quoting 100PipsADay
{quote} Attached is my top 10 favorite pairs to trade with the trend strategies. I also like trading GBP/NZD and have experienced excellent results but not EUR/NZD so much... All 10 pairs are currently disabled with the EA after such a nice run up in pips and % so I will wait the next few days / weeks out until I see fit. {image}
Hi 100PipsADay,
could you tell me which EA of this thread you use ? Because I have problem with the EA (you can see more details on post# 1,231)

Thanks in advance,
Ward
  • #1,259
  • Jun 7, 2013 12:36pm Jun 7, 2013 12:36pm
Quoting WardStradlat
{quote} Hi 100PipsADay, could you tell me which EA of this thread you use ? Because I have problem with the EA (you can see more details on post# 1,231) Thanks in advance, Ward
to tell you the truth , i got same problem

long - yes
short - no

i think is a problem ...
Make choices and don't look back !
  • #1,260
  • Edited 1:37pm Jun 7, 2013 12:38pm | Edited 1:37pm
is this a good setup? D1 MACD is bearish and the H1 williams % in OB, should this be safe sell on AUDJPY or the best is in when the D1 MACD has just crossed, or wait for some form of good retrace before sell? Hope not too many questions?

Good trading
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audjpyh11.png Size: 39 KB
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