Third Screen Strategy - Dr. Alexander Elder | Page 65 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #1,281
  • Jun 9, 2013 4:26pm Jun 9, 2013 4:26pm
100pips, Khaled, I see the EA and other files were uploaded to page 1 today.


Have there been any changes? I am using The "Third Screen Stratgey- D1 MACD V1.1"
  • #1,282
  • Jun 9, 2013 4:30pm Jun 9, 2013 4:30pm
Quoting normtold
100pips, Khaled, I see the EA and other files were uploaded to page 1 today. Have there been any changes? I am using The "Third Screen Stratgey- D1 MACD V1.1"
You are fine, no changes made.
  • #1,283
  • Jun 9, 2013 4:42pm Jun 9, 2013 4:42pm
Quoting 100PipsADay
{quote} You are fine, no changes made.
Hi 100pip. Hope you had a great weekend. I have a question on your live account EA setting. What is your setting for the delayhours on the EA? 6, 8 or 12? Thank you. It's late here, so I'll say GN til tomorrow.
  • #1,284
  • Jun 9, 2013 5:27pm Jun 9, 2013 5:27pm
Quoting 100PipsADay
{quote} You are fine, no changes made.

Version 1.1

Sorry, where is? this version


lordorly
  • #1,285
  • Jun 9, 2013 6:45pm Jun 9, 2013 6:45pm
Quoting Erebus
{quote} The EA attached in Post # 1 is as shown below I see it uploaded today, and only 1 download, so I wonder if there is an update ? As you like {image}
Ok Erebus, I now need a "translation", I am totally lost. The Ea I downloaded from 100pips post

D1 20 EMA & 50 EMA.ex4

Its called D1 20ema, but on the trade comments, its "Third Screen Strategy V3.2"

The EA you have pointed out to me on Post#1=
Third Screen Strategy - D1 MACD.ex4

I didnt attached this to any chart so cant see whats the version or even try to fathom the differences. So I am really totally totally lost. Earlier u replied that used Ea provided by 100pips=no confusion, the D1 20EMA is from 100pips post http://www.forexfactory.com/showthre...425041#57-list (1st post)
Are we kinda of on same page when u meant EA by 100pips? (ie, refer to EA from above post)?
  • #1,286
  • Jun 9, 2013 7:18pm Jun 9, 2013 7:18pm
EA Fever..

I did not read this thread, but im sure it can be also traded manually..
How to opt out annoying user signatures ??
  • #1,287
  • Jun 9, 2013 7:42pm Jun 9, 2013 7:42pm
Quoting Toranaga
EA Fever.. I did not read this thread, but im sure it can be also traded manually..
Reading the thread would be a good way to understand the rules. All EAs are originally written based on a set of trading rules, therefore EAs are always trade-able on a manual basis, so long as the rules are clear. The benefit of this EA is that it takes trade on the H1 entering the oversold/overbought regions and as this can occur at any time of the day, and hence removes the need to screen watch 24 hours a day. One major aspect of how this EA operates is to open up to 8 trades per pair (depending on how you set up the EA) that you are trading, so account management and risk/rewards are key.

I am manually trading this approach, so reduced opportunities for entries based on the amount of screen time available.

Happy pip hunting.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,288
  • Jun 9, 2013 7:51pm Jun 9, 2013 7:51pm
Quoting ymleong
{quote} Ok Erebus, I now need a "translation", I am totally lost. The Ea I downloaded from 100pips post D1 20 EMA & 50 EMA.ex4 Its called D1 20ema, but on the trade comments, its "Third Screen Strategy V3.2" The EA you have pointed out to me on Post#1= Third Screen Strategy - D1 MACD.ex4 I didnt attached this to any chart so cant see whats the version or even try to fathom...
Ymleong, please read post # 1068

with regards,

Maudur
Enter Signature
  • #1,289
  • Jun 9, 2013 8:19pm Jun 9, 2013 8:19pm
Quoting Britpip7
{quote} Reading the thread would be a good way to understand the rules. All EAs are originally written based on a set of trading rules, therefore EAs are always trade-able on a manual basis, so long as the rules are clear. The benefit of this EA is that it takes trade on the H1 entering the oversold/overbought regions and as this can occur at any time of the day, and hence removes the need to screen watch 24 hours a day. One major aspect of how this EA operates is to open up to 8 trades per pair (depending on how you set up the EA) that you are...
Thanks for the reply. The post was little sarcastic written.. (because it annoyes me a little (much))

I found the D1 20 EMa & 50 EMa thread few days ago and im involved there. Some one mentioned there this thread so i subscribed it yesterday because the quality of the thread starter. This thread will follow later for review..

I understand that a well written Ea with clear rules can save you time and do the same like if you manually follow the strategy, but reading there and here the panic requests about EA this EA that, improvements after 4 weeks forward testing, shows how people dont care about the strategy or even did not traded it more than 5 days, (if ever) and only lurk for the perfect EA set file or the newest version of the EA and dont contribute anything or even do the effort to try to trade it manually...

I traded the THV System manually for more that 2000 hours (counted it) since i found it, and then still thought twice about opening a separate thread and making improvements, thats how i think how a strategy should be analyzed and used and not ea ea please give me the newest EA. Is it the newest, are you sure ??

Too much people want to become rich without much effort. Or knowledge. It does not works this way

(that was not pointed on the last poster. There are many other, just to make that clear..)
How to opt out annoying user signatures ??
  • #1,290
  • Jun 9, 2013 8:25pm Jun 9, 2013 8:25pm
And the current EA still needs some major bugs fixed. There are way too many false signals being given out.

Worry about fixing those before you add anything fancy to it.
  • #1,291
  • Jun 9, 2013 9:05pm Jun 9, 2013 9:05pm
Quoting maudur
{quote} Ymleong, please read post # 1068 with regards, Maudur

Hi Maudur

I did read thru the post, but there are somewhat different EA names, not sure whats whats. Erebus replied that I should use 100pips EA which is the D1 20EMA and Erebus did direct me to is the same post 1068, which is the third strategy ea. When I attached the D1 20ema, the comments on the trade were "third screen strategy v3.2" except that actual EA was different (its D1 20ema). Reference link below (this is the EA I am now using)
http://www.forexfactory.com/showthread.php?t=425041#57

So appreciate if u could help me out. I did also download the Third Strategy EA (from post 1068). The D1 20ema was the one with this report (reference link here) that I am now using. http://www.forexfactory.com/showthre...5041#57-report

According to Erebus there are 2 EA's so I assumed D1 20ema and this "original" 3rd screen strategy from post 1068. But since Erebus didnt post his results its kinda of hard to guess what works and what dont. I am following the report above from 100pips post to set my currency pairs, lot size (based on gain%, ie higher gain will get higher lot).

Post 1068 is intended to educate ppl abt how the 3rd strategy trades (for manual trading purposes), not helpful (as its theory can get quite confusing) to newbies and those who just wanted to experiment with a successful EA to start with. I was just stump whether the D1 20ema EA that 100pips provided is actually the same 3rd strategy EA but improved version? Everyone is talking abt time delay and trading 20 pairs which the D1 20ema is doing

Thanks a lot for this info, but I am still lost. Whats the difference between D1 20EMA and this Third Screen Strategy. Is there any trade reports regards this Third Screen? Any links to further read on it? I have been on this D1 20ema from like Saturday, so I am abt 2 days old
  • #1,292
  • Jun 9, 2013 9:12pm Jun 9, 2013 9:12pm
Quoting ymleong
{quote} Hi Maudur I did read thru the post, but there are somewhat different EA names, not sure whats whats. Erebus replied that I should use 100pips EA which is the D1 20EMA and Erebus did direct me to is the same post 1068, which is the third strategy ea. When I attached the D1 20ema, the comments on the trade were "third screen strategy v3.2" except that actual EA was different (its D1 20ema). Reference link below (this is the EA I am now using) http://www.forexfactory.com/showthread.php?t=425041#57 So appreciate if u could help...

Go to the first post of this thread. Download EA and install the MACD3SS indicator into your indicators folder. The top right corner of the chart it will say "Third Screen Strategy - D1 MACD V.1.1"

If you want the D1 20 EMA & 50 EMA then go to that thread's first post and you will find the D1 20 EMA & 50 EMA EA. On the top right corner of the chart it will say D1 20 EMA & 50 EMA V.3.2

**I'm not making any more changes to any of the EA's. Look at my statistics folks. I would never change something that generates more than 10%-15% per month and I've already done 2-3 times that much with both of these strategies!

Happy Trading!

Ymleong,

You obviously have a LOT of reading to do if you are going to utilize both strategies. I strongly suggest you read through both threads very carefully as I do not want to see you asking questions that have been asked and answered multiple times. Also, you might just want to stick with one strategy for the time being until you are comfortable and confident. No point in trying to do too much all at the same time...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Third_Screen_EA.png Size: 108 KB
Click to Enlarge Name: D1_20_EMA_&_50_EMA_EA.png Size: 98 KB
  • #1,293
  • Jun 9, 2013 9:19pm Jun 9, 2013 9:19pm
Quoting 100PipsADay
{quote} Go to the first post of this thread. Download EA and install the MACD3SS indicator into your indicators folder. The top right corner of the chart it will say "Third Screen Strategy - D1 MACD V.1.1" If you want the D1 20 EMA & 50 EMA then go to that thread's first post and you will find the D1 20 EMA & 50 EMA EA. On the top right corner of the chart it will say D1 20 EMA & 50 EMA V.3.2 **I'm not making any more changes to any of the EA's. Look at my statistics folks. I would never change something that generates more than 10%-15% per month...

Agree. Will stick to your very successful D1 20EMA ea for now and try the third screen strategy later. Thanks a lot u are a champ.
Do u have any suggestions for TS?

That said, I am following your suggestion of 160,280 for Jpy and 260, 320 for others. As well as make it ONE trade per pair and set time delay=0, since its just one trade at a time, its not necessary to set the delay (at least thats how I feel). Let's see whats whats. After 60 days I will try with 3rd screen. My VPS config can take upto 6 MT4s, so its not a biggie

BTW do u have live acct following D1 20EMA as well as live acct following Third Screen Strategy. Would be very interesting to know which is the "winner" in terms of risk/reward ratio. It would not just be pips or gain% (coz gain % can be incremented with lot sizing), but also DD%. The higher the pips, but lower DD% shows a better EA (strategy)
  • #1,294
  • Jun 9, 2013 9:25pm Jun 9, 2013 9:25pm
Quoting ymleong
{quote} Agree. Will stick to your very successful D1 20EMA ea for now and try the third screen strategy later. Thanks a lot u are a champ. Do u have any suggestions for TS? That said, I am following your suggestion of 160,280 for Jpy and 260, 320 for others. As well as make it ONE trade per pair and set time delay=0, since its just one trade at a time, its not necessary to set the delay (at least thats how I feel). Let's see whats whats. After 60 days I will try with 3rd screen. My VPS config can take upto 6 MT4s, so its not a biggie BTW do u have...

I would stick with the Third Screen Strategy if you are going to trade live accounts. I have been using this strategy for almost 2 years now and have made a LOT of money! I have 3 live accounts.

For AUD/JPY, NZD/JPY, and CAD/JPY I typically use a 160 SL and a 280 TP.

For all other pairs I use a 260 SL and a 320 TP.

**However, I am now testing a 160 SL and a 320 TP for ALL pairs which is a much better risk / reward ratio and so far so good. I may look into using these SL and TP parameters from now on with my live accounts.

As for the D1 20 EMA & 50 EMA strategy it is still fairly new and is in BETA mode. This means I am not trading real money with it as of yet. I strongly recommend you trade the Third Screen Strategy first.

Trailing Stops: After you read through both of the threads you will learn that I DO NOT USE trailing stops ever. I have them set to 500 due to the fact that I don't use them and probably never will...
  • #1,295
  • Jun 9, 2013 9:37pm Jun 9, 2013 9:37pm
Quoting 100PipsADay
{quote} I would stick with the Third Screen Strategy if you are going to trade live accounts. I have been using this strategy for almost 2 years now and have made a LOT of money! I have 3 live accounts. For AUD/JPY, NZD/JPY, and CAD/JPY I typically use a 160 SL and a 280 TP. For all other pairs I use a 260 SL and a 320 TP. **However, I am now testing a 160 SL and a 320 TP for ALL pairs which is a much better risk / reward ratio and so far so good. I may look into using these SL and TP parameters from now on with my live accounts. As for the D1 20...
Understood, I am now analysing abt your trade list and will stick the 3rd screen strategy to another demo MT4 for at least 30days b4 committing. Its good to learn that u are using 3rd screen in live acct. Did u use ECN or just std accts?

Hmpph...I intend to use the EA on Demo then use the FOC MTi personal trade copier to allow EA to open lot according to equity basis. This way there is no need to change the EA params and why change something that works so well and then realised u have instead "insert" a bug coz of this change. It doesnt mean that if its not broken, dont fix, but I am sure upgrades would be most welcome, but I need to open lots according to equity basis, so upgrade wise at the moment is not so impt as a feature. If I want a more hands off approach, just adjust lot size every mth after my capital has grown somewhat will be better.

From the Third screen strategy trade report started based on Alpari Demo, from May22 its already 13,000+ pips, what more does one ask for? The world's billions, trillions?
  • #1,296
  • Jun 9, 2013 9:40pm Jun 9, 2013 9:40pm
Quoting ymleong
{quote} Understood, I am now analysing abt your trade list and will stick the 3rd screen strategy to another demo MT4 for at least 30days b4 committing. Its good to learn that u are using 3rd screen in live acct. Did u use ECN or just std accts? Hmpph...I intend to use the EA on Demo then use the FOC MTi personal trade copier to allow EA to open lot according to equity basis. This way there is no need to change the EA params and why change something that works so well and then realised u have instead "insert" a bug coz of this change. It doesnt...

Spreads are negotiable between clients and brokers when you have enough money in your account! However, it doesn't really matter if we have a 1 pip spread or a 10 pip spread due to the fact that we use such large SL and TP targets. Obviously the lower the spread the better...

This strategy is simple, powerful, proven, and profitable. Stick to the rules and you will also make money.
  • #1,297
  • Jun 9, 2013 10:09pm Jun 9, 2013 10:09pm
$5k Live Test

Last week I transferred a little more than $5k to another account which I will trade using this strategy. I will do my best to post screen shots at least once a day of Balance, Equity, Current Open Positions, and Recently Closed Positions. Let's call this the $5k Live Test.

Pairs Being Traded: EUR/AUD, GBP/AUD, AUD/JPY, CAD/JPY

Stop Loss & Take Profit Parameters:

  1. EUR/AUD - 160 SL & 280 TP
  2. GBP/AUD - 260 SL & 320 TP
  3. AUD/JPY - 160 SL & 280 TP
  4. CAD/JPY - 260 SL & 320 TP

​Max Positions: 4 Per Pair

Starting Balance: $5,202.11

Lot Sizing: 10k Lots Per Position (0.10)

I will double lot sizes when account doubles and will keep doing this as time goes on. Example: When balance reaches $10k I will increase lot size to 20k per position. My goal is to show you that you can make good money trading FOREX with even a small amount of capital using this strategy. I strongly recommend that you do not trade any more than 10k lots if trading 4 pairs with 4 positions per pair as you risk blowing your account.

Important: As you may or may not know, I reside in the Unites States but prefer not to trade with US brokers due to such heavy regulation. However, I'm also going to trade this strategy using a US broker to show that it is still possible to trade this strategy even with FIFO rules and a maximum of 50:1 leverage. However, this means that my stop loss and take profit will be a little different each and every time due to the First In First Out rules. If I can make money trading under the worst conditions possible (US Broker) then anybody can make money using this strategy! This is actually why the bulk of my money is with various brokerage firms outside the US!

Attached is a screen shot which shows Account Balance, Equity, Margin, Current Open Positions, and at the very top right corner it shows that this is a Live Account.

This $5k Live Test will show that it is possible to make money starting with $5k with a US broker using the Third Screen Strategy explained throughout the thread! You folks ready?

Attached Image (click to enlarge)
Click to Enlarge Name: $5k Live Test.png Size: 374 KB
  • #1,298
  • Jun 9, 2013 10:28pm Jun 9, 2013 10:28pm
Quoting 100PipsADay
$5k Live Test Last week I transferred a little more than $5k to another account which I will trade using this strategy. I will do my best to post screen shots at least once a day of Balance, Equity, Current Open Positions, and Recently Closed Positions. Let's call this the $5k Live Test. Pairs Being Traded: EUR/AUD, GBP/AUD, AUD/JPY, CAD/JPY Stop Loss & Take Profit Parameters: EUR/AUD - 160 SL & 280 TP GBP/AUD - 260 SL & 320 TP AUD/JPY - 160 SL & 280 TP CAD/JPY - 260 SL & 320 TP​Max Positions: 4 Per Pair Starting Balance: $5,202.11 Lot Sizing:...
Yes yes yes, pls update us. BTW manual/mix or all auto? Your screen kinda of looks like currenex system, are u listing as a provider there?
  • #1,299
  • Edited 10:47pm Jun 9, 2013 10:36pm | Edited 10:47pm
Quoting Toranaga
EA Fever.. I did not read this thread, but im sure it can be also traded manually..
100 PIPS....

Thanks very much for your great screen shot, this is greatly appreciated by me and I am sure many others,

I shall watch it and will surely learn plenty...

TORANAGA, please read from post 1 to receive the spirit of the method and to show 100 PIPS and others the respect they deserve, thanks..

This method can be traded manually, with great effect, ( IN MY OPINION) last week I checked 2/3 times a day and updated the pairs, no probs..

I am sure the ea is great, when it works properly, mine has started taking trades at random lot sizes...!! (0.44 and 0.51 etc..)

I shall reload the EA on Page 1

Thanks to all of you for your great advice Guys....
Onwards and upwards...
  • #1,300
  • Jun 9, 2013 11:24pm Jun 9, 2013 11:24pm
Quoting ymleong
{quote} Yes yes yes, pls update us. BTW manual/mix or all auto? Your screen kinda of looks like currenex system, are u listing as a provider there?
This will be a hybrid system, just like what can be done with the EA that Khaled has programmed for us here. I will try to intervene as little as possible though.

No, I am not listed as a signal service provider anywhere.
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