Third Screen Strategy - Dr. Alexander Elder | Page 67 | 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

  • #1,321
  • Jun 10, 2013 7:11am Jun 10, 2013 7:11am
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.
Well maybe you should consider limiting your exposure to the yen crosses. Choose two and that's it. Yen is like feast or famine, depending on how expose you are to the pair. Just my advice. You need to understand that nothing moves in a straight line. You may be down today then you may be up tomorrow. Limit your exposure and use good MM.
  • #1,322
  • Jun 10, 2013 7:13am Jun 10, 2013 7:13am
I too live in the US using a US broker and using this system I have been making steady money for the past couple of weeks using the smallest lot sizes possible so I can attest to 100pips claim of still making money in the US.

I work 2 jobs currently and I check the charts on my phone and when I get off work/days off. I still found plenty of opportunities to get into the market using this method. I dont like using EAs so all my trades are manual. I increased my account by 67% last week using only Third Screen Strategy with no EA. All manual trading. Landed 1,131 pips. Even with a few losses and still learning the system made over 1000 pips! I am already 200 pips up for this trading week. IT CAN BE DONE!

100pips I owe you one man
  • #1,323
  • Jun 10, 2013 7:39am Jun 10, 2013 7:39am
Quoting crottsinabox
I too live in the US using a US broker and using this system I have been making steady money for the past couple of weeks using the smallest lot sizes possible so I can attest to 100pips claim of still making money in the US. I work 2 jobs currently and I check the charts on my phone and when I get off work/days off. I still found plenty of opportunities to get into the market using this method. I dont like using EAs so all my trades are manual. I increased my account by 67% last week using only Third Screen Strategy with no EA. All manual trading....
How many pairs do you watch?
Thoughts are things
  • #1,324
  • Jun 10, 2013 7:41am Jun 10, 2013 7:41am
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...
I agree. We all should start posting charts and move towards potential trade setups and sharing our bias on particular pairs. Try to move away from just talking about the EA. I'll post first chart.

This is my current G/U chart and I have one long position just opened. I personally prefer to make sure the daily and weekly MACD is in agreement with each other b4 I trade a particular pair. When they are not, then I don't trade it. Here's G/U Weekly/Daily/Hourly. BTW- Please DO NOT ask me to post any indicators that you may see on my charts, as these are their as my preference, and is not part of this system, thus I will respect 100pip and not clutter the thread with other indies. I encourage everyone to do the same. Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: G-U.jpg Size: 141 KB
Click to Enlarge Name: G-U Daily.jpg Size: 113 KB
Click to Enlarge Name: G-U Hourly.jpg Size: 116 KB
  • #1,325
  • Jun 10, 2013 7:43am Jun 10, 2013 7:43am
Quoting MKFXTrader
{quote} Well maybe you should consider limiting your exposure to the yen crosses. Choose two and that's it. Yen is like feast or famine, depending on how expose you are to the pair. Just my advice. You need to understand that nothing moves in a straight line. You may be down today then you may be up tomorrow. Limit your exposure and use good MM.
Good advice.
  • #1,326
  • Jun 10, 2013 7:58am Jun 10, 2013 7:58am
Quoting Quezoy
{quote} How many pairs do you watch?

I have 15 pairs that I watch
  • #1,327
  • Jun 10, 2013 8:03am Jun 10, 2013 8:03am
Quoting crottsinabox
{quote} I have 15 pairs that I watch
How many are yen crosses?
  • #1,328
  • Jun 10, 2013 8:07am Jun 10, 2013 8:07am
5 yen crosses. But I am not in all 5 at once. 3 at the max.

Currently I have no yen pairs open. The strategy rules apply to open some entries up but I am using some discretion, Might wait a day or two to jump back in
  • #1,329
  • Jun 10, 2013 8:11am Jun 10, 2013 8:11am
Quoting crottsinabox
5 yen crosses. But I am not in all 5 at once. 3 at the max. Currently I have no yen pairs open. The strategy rules apply to open some entries up but I am using some discretion, Might wait a day or two to jump back in
  • #1,330
  • Jun 10, 2013 8:27am Jun 10, 2013 8:27am
Quoting MKFXTrader
{quote}

Hi MKF,

At what price did you enter that long trade on GBPUSD ?
Did you take the trade manually ?
  • #1,331
  • Jun 10, 2013 8:30am Jun 10, 2013 8:30am
Right now I have the following pairs open

EUR/CAD (long) This pair isn't doing so hot right now. -141 pips

USD/CHF (short)I have 2 positions open on this pair from late last week. Kind of sideways right now. 1 position almost hit TP but it has been jumping up and down all yesterday and today. I am still confident I will hit TP though -10 pips.

EUR/USD (long) Same thing here. 2 positions. One minute I am doing good. The next not so good +100 pips.

I am being fairly conservative right now. The post I made earlier about the US broker I was up 150pips on open trades and now I am bouncing between 10 and -50 pips. Just that fast. I am confident the USD/CHF and EUR/USD will go where I want. The EUR/CAD. I will let it ride but not as confident in that one. However, the pairs I watch all seem to sideways are making a transition. There was a lot of news last week and Australia was on holiday yesterday. I personally take stuff like that into account when I trade. I remember last Monday started out rough as well and later in the week, the pips were flowing in. I got my eye on GBP/AUD, AUD/NZD, and AUD/USD to make some big moves
  • #1,332
  • Jun 10, 2013 8:39am Jun 10, 2013 8:39am
Quoting rexio
{quote} Hi MKF, At what price did you enter that long trade on GBPUSD ? Did you take the trade manually ?
The EA actually took the trade as I was out for most of the day. Entry at 1.5527. I run the EA when I'm not around, and manually when I'm in front of charts. Hope u had a nice weekend rexio.
  • #1,333
  • Jun 10, 2013 8:52am Jun 10, 2013 8:52am
I'm currently bias and trading these pairs.

G/U - Long
E/A - Long
G/A - Long
E/N - Long
G/N - Long
A/U - Short
N/U - Short
A/J - Short
N/J - Short

Keeping a close eye on A/U and N/U as the daily MACD trend looks a little undecided ATM.
  • #1,334
  • Jun 10, 2013 9:10am Jun 10, 2013 9:10am
Quoting 100PipsADay
{quote} 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.
Pls if u could give a myfxbook link, there are some good analysis features there.

BTW: I am correct, this acct is using 3SS NOT 20 EMA that is still under "demo" right?
  • #1,335
  • Jun 10, 2013 9:48am Jun 10, 2013 9:48am
Quoting MKFXTrader
I'm currently bias and trading these pairs. G/U - Long E/A - Long G/A - Long E/N - Long G/N - Long A/U - Short N/U - Short A/J - Short N/J - Short Keeping a close eye on A/U and N/U as the daily MACD trend looks a little undecided ATM.

Hi, Thank you for your cooperation in this thread.

What is your interpretation of the system, in order to keep your decisions

Guess what have you posted on this thread. In which Post ?.

Lordorly

P.S. I apologize for my English
  • #1,336
  • Jun 10, 2013 11:03am Jun 10, 2013 11:03am
Quoting MKFXTrader
I'm currently bias and trading these pairs. G/U - Long E/A - Long G/A - Long E/N - Long G/N - Long A/U - Short N/U - Short A/J - Short N/J - Short Keeping a close eye on A/U and N/U as the daily MACD trend looks a little undecided ATM.
MKF Mine is E/U=G/U=E/J=U/CHF=A/U=G/A=E/A=N/SGD=G/J . Got two J . Wonder if its good set up , Will see , I have learn that if like too many J can wiped out Acc , Better make different currency to be on safe side , So i got 4 U ? Malcolm .
  • #1,337
  • Jun 10, 2013 12:05pm Jun 10, 2013 12:05pm
Quoting lordorly
{quote} Hi, Thank you for your cooperation in this thread. What is your interpretation of the system, in order to keep your decisions Guess what have you posted on this thread. In which Post ?. Lordorly P.S. I apologize for my English
The system is great just the way it is. You should read the thread though, if you haven't done so.
  • #1,338
  • Jun 10, 2013 12:07pm Jun 10, 2013 12:07pm
Quoting terminator12
{quote} MKF Mine is E/U=G/U=E/J=U/CHF=A/U=G/A=E/A=N/SGD=G/J . Got two J . Wonder if its good set up , Will see , I have learn that if like too many J can wiped out Acc , Better make different currency to be on safe side , So i got 4 U ? Malcolm .
Just to point out E/U and U/CHF is correlated almost 90% to each other.
  • #1,339
  • Jun 10, 2013 12:31pm Jun 10, 2013 12:31pm
Quoting MKFXTrader
{quote} Just to point out E/U and U/CHF is correlated almost 90% to each other.
MKF I did read the whole thread ,i had to learn the hard way without video and been with MT4 for only 9 months , Did manage well now yet just bit more (phew) Thanks for pointing to me of E/U and U/CHF . Will take out U/C and put CAD/CHF , Thanks ,
  • #1,340
  • Edited 12:54pm Jun 10, 2013 12:37pm | Edited 12:54pm
Quoting terminator12
{quote} MKF I did read the whole thread ,i had to learn the hard way without video and been with MT4 for only 9 months , Did manage well now yet just bit more (phew) Thanks for pointing to me of E/U and U/CHF . Will take out U/C and put CAD/CHF , Thanks ,
I was actually suggesting to lordorly to read the thread, not you.

I would suggest G/NZD or EUR/NZD(They both have high ATR's), instead of CAD/CHF unless you don't mind watching paint dry. Also, what do you know about N/SGD? What is N? My advice is stick as close to the majors as possible, instead of trying to trade exotic pairs. Maybe you're familiar with SGD.
2 traders viewing now