Third Screen Strategy - Dr. Alexander Elder | Page 66 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #1,301
  • Jun 9, 2013 11:53pm Jun 9, 2013 11:53pm
Hi 100Pips Just need to understand bit , What does delay hours do , I still leave it at 6 hrs .
  • #1,302
  • Jun 10, 2013 12:19am Jun 10, 2013 12:19am
Quoting terminator12
Hi 100Pips Just need to understand bit , What does delay hours do , I still leave it at 6 hrs .
I really don't want to answer this question as it has been answered over and over and over and over and over and over and over and over...

This is the time delay in between new positions opening up for that particular pair, simple as that. So if D1 MACD is in down trend and H1 Williams % remains "over bought" for 12 hours then 2 new sell positions will open up, each of them 6 hours apart.
  • #1,303
  • Jun 10, 2013 12:23am Jun 10, 2013 12:23am
Quoting 100PipsADay
{quote} I really don't want to answer this question as it has been answered over and over and over and over and over and over and over and over... This is the time delay in between new positions opening up for that particular pair, simple as that. So if D1 MACD is in down trend and H1 Williams % remains "over bought" for 12 hours then 2 new sell positions will open up, each of them 6 hours apart.
100Pips Sorry to worry u , Understand , Thanks .
  • #1,304
  • Jun 10, 2013 12:24am Jun 10, 2013 12:24am
From here on out let's all try and focus on posting charts with analysis to support potential trade setups. Let's try and get away from all of the "Expert Advisor" configuration / setup talk and get back to making money. At this point in time if you aren't able to setup the EA properly or are having difficulties using it then just trade this system manually.

Just look at the EA as an assistant to help open up positions while you are away from your computer. That's it!

I will mainly be focusing on sharing the $5k Live Test results with those who are interested in case you want to follow along and make money with this strategy.
  • #1,305
  • Jun 10, 2013 12:25am Jun 10, 2013 12:25am
Quoting terminator12
{quote} 100Pips Sorry to worry u , Understand , Thanks .
  • #1,306
  • Jun 10, 2013 1:22am Jun 10, 2013 1:22am
Hi All, my first post to this thread, I have spent the week-end reading the thread and will follow with interest.

100PipsADay - thank you for doing this live test, I am looking forward to learning alot.

Regards to All
  • #1,307
  • Jun 10, 2013 2:34am Jun 10, 2013 2:34am
Just received the following message so I have decided to answer it in the thread for everybody to see.

Hi 100pips,

I notice from your trade explorer that all current AUD/USD trades are SELLs but for the past several days, D1 MACD is up (blue) so, in my case, all of my current Aussie trades are BUYs. Did you stop trading the Aussie when it retraced recently? If you did, what was the reason and what would be the deciding factor for you to trade the Aussie again?

Thanks in advance.


Great question Dwvelarde!

The reason I had sell positions is because I activated the EA on AUD/USD when it was still in a down trend on the D1 MACD. I actually closed out the rest of my AUD/USD sell trades a few hours ago as we are right at a significant area of support from a Weekly perspective. I just enabled the EA for AUD/USD a few minutes ago and got my first BUY position. Will look to build a total of 8 positions all using a 160 SL and a 320 TP.

Keep in mind though that I have not really seen any Price Action to tell me to buy at this area but with our gap down at this week's open that is also a bullish sign in itself. MACD is telling us to buy so it is good enough for me after this recent 1,100 pip sell off in the Aussie Dollar. Keep in mind though, we could go much lower but it is worth the risk at this point in time in my opinion to start building long positions...

Take a look at the Weekly chart as I've highlighted this area and the significance of it during the past 5 years or so.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_Weekly.png Size: 108 KB
  • #1,308
  • Jun 10, 2013 2:50am Jun 10, 2013 2:50am
The above post is also supporting my current bias for EUR/AUD.

After such a nice run up in EUR/AUD I believe we may have hit the top for a few reasons. Look at the Weekly chart and you will see that price has literally touched the 250 EMA to the Pip! Also, this area has acted as significant support / resistance in the past.

With my current bullish view on AUD/USD I believe we may be at the top of the trading range for EUR/AUD. Therefore I plan on waiting for D1 MACD to cross over to the down side then I will enable the EA again for this particular pair.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURAUD_Weekly.png Size: 109 KB
Click to Enlarge Name: EURAUD_Daily.png Size: 113 KB
  • #1,309
  • Jun 10, 2013 2:55am Jun 10, 2013 2:55am
Quoting 100PipsADay
From here on out let's all try and focus on posting charts with analysis to support potential trade setups. Let's try and get away from all of the "Expert Advisor" configuration / setup talk and get back to making money. At this point in time if you aren't able to setup the EA properly or are having difficulties using it then just trade this system manually. Just look at the EA as an assistant to help open up positions while you are away from your computer. That's it! I will mainly be focusing on sharing the $5k Live Test results with those who...
Send them over here

http://www.forexfactory.com/showthread.php?t=431719

We can help out with all questions, EA's, basics, advanced, MT4, alternative indicators, altered strategy, anything goes

Perhaps 100_Pips_A_Day may even drop in form time to time

E.
It takes a lot for me to IGNORE you, but you can try.
  • #1,310
  • Jun 10, 2013 3:01am Jun 10, 2013 3:01am
Hi 100pips,

Thank your for your reply.

I just started the EA last week so it wasn't the right time to switch on the Aussie, I guess, as it was on a slight retracement.

Yup, I checked the weekly and just realised it was near/on a S/R line... I should really check the weekly PASR next time.

Anyway, I still got a few hundred pips last week. Even though it was just a demo, I was very happy with the result.

Thanks again.

Quoting 100PipsADay
Just received the following message so I have decided to answer it in the thread for everybody to see. Hi 100pips, I notice from your trade explorer that all current AUD/USD trades are SELLs but for the past several days, D1 MACD is up (blue) so, in my case, all of my current Aussie trades are BUYs. Did you stop trading the Aussie when it retraced recently? If you did, what was the reason and what would be the deciding factor for you to trade the Aussie again?

Thanks in advance.

Great question Dwvelarde! The reason I had sell positions is...
  • #1,311
  • Jun 10, 2013 3:10am Jun 10, 2013 3:10am
Quoting Erebus
{quote} Send them over here http://www.forexfactory.com/showthread.php?t=431719 We can help out with all questions, EA's, basics, advanced, MT4, alternative indicators, altered strategy, anything goes Perhaps 100_Pips_A_Day may even drop in form time to time E.

Wow! Thank you so much Erebus. I will definitely Bookmark this thread and send anybody who has questions your way!

Thanks for all your help that you do around here buddy, it is very appreciated. I need to start spending a little more time trading and less time answering questions over and over. The timing couldn't have been better! Thanks again.
  • #1,312
  • Jun 10, 2013 3:10am Jun 10, 2013 3:10am
Quoting dwvelarde
Hi 100pips, Thank your for your reply. I just started the EA last week so it wasn't the right time to switch on the Aussie, I guess, as it was on a slight retracement. Yup, I checked the weekly and just realised it was near/on a S/R line... I should really check the weekly PASR next time. Anyway, I still got a few hundred pips last week. Even though it was just a demo, I was very happy with the result. Thanks again. {quote}

  • #1,313
  • Jun 10, 2013 3:27am Jun 10, 2013 3:27am
I've set up 3 accounts with different delay/position settings. I will run them for 1 month without interferance and then go over it and come to some usefull conclusions.
Then the build of a semi-automatic system begins.
Thoughts are things
  • #1,314
  • Jun 10, 2013 4:42am Jun 10, 2013 4:42am
Hallo Mr.Pip,

Could you give your view of AUDJPY and GBPAUD ?
It will probably go along the same lines of reasoning as in the above posts where you discussed the AUDUSD and EURAUD.
  • #1,315
  • Jun 10, 2013 4:50am Jun 10, 2013 4:50am
I'm getting killed on the JPY pairs atm.

In fact, looking at other pairs (not just the JPY crosses), there are A LOT of reversals going on.
  • #1,316
  • Jun 10, 2013 5:16am Jun 10, 2013 5:16am
Quoting Tok
I'm getting killed on the JPY pairs atm. In fact, looking at other pairs (not just the JPY crosses), there are A LOT of reversals going on.

dude you are over-leveraged....systems like this do have pretty large drawdowns.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #1,317
  • Jun 10, 2013 5:22am Jun 10, 2013 5:22am
Quoting Tok
{quote} I'm losing today too. Today, the system is failing me. Markets seem to be not trending well.
Quoting Tok
I'm getting killed on the JPY pairs atm. In fact, looking at other pairs (not just the JPY crosses), there are A LOT of reversals going on.



Seems to be a MONDAY thing, dejavu all over again, Groundhog Day, a great movie


It takes a lot for me to IGNORE you, but you can try.
  • #1,318
  • Jun 10, 2013 5:27am Jun 10, 2013 5:27am
Quoting Erebus
{quote} {quote} Seems to be a MONDAY thing, dejavu all over again, Groundhog Day, a great movie
Lol.

I'm not complaining, just stating what's going on.
  • #1,319
  • Jun 10, 2013 5:36am Jun 10, 2013 5:36am
One thing I understood : we should not stay glued to our screens.
Follow the plan. If your SL is hit, it is certainly a sign of a trend reversal. Remain patient and wait for confirmation of a trend change, or if is just a (normal) breathing of the market.
Then resume position in the direction of the trend.
Nobody can have 100% TP hits !
  • #1,320
  • Jun 10, 2013 5:38am Jun 10, 2013 5:38am
Quoting WardStradlat
One thing I understood : we should not stay glued to our screens. Follow the plan. If your SL is hit, it is certainly a sign of a trend reversal. Remain patient and wait for confirmation of a trend change, or if is just a (normal) breathing of the market. Then resume position in the direction of the trend. Nobody can have 100% TP hits !
This is what I was getting at. For some reason, people seem to instantly assume negative things.
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