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Third Screen Strategy - Dr. Alexander Elder

  • #1,401
  • Jun 11, 2013 4:43am Jun 11, 2013 4:43am
Things turned around nicely from yesterday, A/Y and E/N allready hitting TP.

Do you guys let your platform running 24/7?
Thoughts are things
  • #1,402
  • Jun 11, 2013 4:48am Jun 11, 2013 4:48am
Quoting 100PipsADay
{quote} I NEVER USE TRAILING STOP no matter what. Only occasionally do I close trades early... Just wait for SL or TP to get hit, then reassess situation with that pair. Simple as that. I do not recommend using trailing stop.

Thanks 100pips much appreciated. I see ppl trading other pairs, too INTERESTING!
  • #1,403
  • Jun 11, 2013 4:48am Jun 11, 2013 4:48am
Quoting Quezoy
Things turned around nicely from yesterday, A/Y and E/N allready hitting TP. Do you guys let your platform running 24/7?
Personally, I turn it off at 11 p.m. and restart it at 8 a.m. I'm in France, so I trade Tokyo + London + New York sessions.
  • #1,404
  • Jun 11, 2013 4:53am Jun 11, 2013 4:53am
Quoting WardStradlat
I know that with this system, we don't need EMA. But let me, please, ask something . {quote} On this EURAUD chart, we can see prices away from the EMA 20. Can we use this indicator to predict a market breathing, even if the MACD is long ? It's like PSAR, and help us to close some trade manually. I never studied magnetism with moving averages. Does anyone have any statistics? Otherwise, forget what I said, no need to complicate things. {image}
Hi WardStradlat,

Here the statistic of MA
may be this could help you ......

Cheers
Attached File(s)
File Type: pdf SF-report.pdf   737 KB | 561 downloads
  • #1,405
  • Jun 11, 2013 5:02am Jun 11, 2013 5:02am
Quoting mrhb30jr
{quote} Hi WardStradlat, Here the statistic of MA may be this could help you ...... Cheers {image}
Hi !
Thanks a lot for the statistic
  • #1,406
  • Edited 6:57am Jun 11, 2013 6:14am | Edited 6:57am
Tok and all,

The first rule of this system is that you MUST be patient. I am trading 9 pairs with the EA, and yesterday was down over -1200 some pips. Today, Those same pairs that were opened yesterday, is up over +2000 pips. that's a turnaround of over 3500 pips. So please don't say this system doesn't work or it's flawed or we should maybe go down to the lower TF to get better entries. If you don't have the patience to hold positions and let them season, then you're not a trend trader, because this trading style doesn't fit your personality. I would suggest you maybe find a system that fits within your personal objective as a trader or personality profile. Just my .02 cents.

The system was able to still accomplish this although it has a bug that I noticed. Without the bug closing out open positions for no apparent reason, I would be up even more so today. I'll list the bug on next post.
  • #1,407
  • Jun 11, 2013 6:28am Jun 11, 2013 6:28am
Khaled, rexio or 100pips,

The BUG within the first EA. What I have noticed for the past few trading sessions is that the EA automatically closes out positions for no obvious reason. This is what has occured and I've narrowed it down to this much.

I had set my EA up to trade a maximum of 3 open positions per pair. For whatever reason when the criteria for a pair to open another position, it closes the one previous position on that pair even though it can't follow through with opening a next position on same pair. Like it's almost trying to perform a washout trade. Like a swap, but the position that would've been opened had the limit been set to 4 or 5 doesn't open. it just closes the last position opened on that particular pair. Hope it makes sense.

One pair I noticed which was the only G/A position long closed out for no reason. There was only one position opened, so this is another problem. I have no idea why it's doing this.

If not for the 11 positions closed at 8:04 local time today, I would've been up BIG TIME TODAY.
  • #1,408
  • Jun 11, 2013 6:31am Jun 11, 2013 6:31am
I am up over 600 pips on only 2 pairs. I love this system!
  • #1,409
  • Jun 11, 2013 6:42am Jun 11, 2013 6:42am
Quoting crottsinabox
I am up over 600 pips on only 2 pairs. I love this system!

  • #1,410
  • Jun 11, 2013 7:13am Jun 11, 2013 7:13am
No bugs here, the EA is working fine, thanks 100pips and Khaled.


I am trading Aud/Nzd, Cad/Jpy, Eur/Aud, Eur/Jpy, Eur/Usd, Gbp/Aud and Gbp/Nzd but will probably drop A/N.
  • #1,411
  • Jun 11, 2013 7:19am Jun 11, 2013 7:19am
Quoting MKFXTrader
Khaled, rexio or 100pips, The BUG within the first EA. What I have noticed for the past few trading sessions is that the EA automatically closes out positions for no obvious reason. This is what has occured and I've narrowed it down to this much. I had set my EA up to trade a maximum of 3 open positions per pair. For whatever reason when the criteria for a pair to open another position, it closes the one previous position on that pair even though it can't follow through with opening a next position on same pair. Like it's almost trying to perform...

It's very difficult to figure out what happens here. My impression is that you have no mistakes in setup and running of the EA. So, the error must be somewhere with its logic. I would need the source to further investigate it.
  • #1,412
  • Jun 11, 2013 7:29am Jun 11, 2013 7:29am
Quoting MKFXTrader
Tok and all, The first rule of this system is that you MUST be patient. I am trading 9 pairs with the EA, and yesterday was down over -1200 some pips. Today, Those same pairs that were opened yesterday, is up over +2000 pips. that's a turnaround of over 3500 pips. So please don't say this system doesn't work or it's flawed or we should maybe go down to the lower TF to get better entries. If you don't have the patience to hold positions and let them season, then you're not a trend trader, because this trading style doesn't fit your personality. I...
MKF I also trade with 9 pairs and don't have bugs , All close accordly to S/L or T/P . What urs could be cause the bug
  • #1,413
  • Jun 11, 2013 7:36am Jun 11, 2013 7:36am
Quoting MKFXTrader
Tok and all, The first rule of this system is that you MUST be patient. I am trading 9 pairs with the EA, and yesterday was down over -1200 some pips. Today, Those same pairs that were opened yesterday, is up over +2000 pips. that's a turnaround of over 3500 pips. So please don't say this system doesn't work or it's flawed or we should maybe go down to the lower TF to get better entries. If you don't have the patience to hold positions and let them season, then you're not a trend trader, because this trading style doesn't fit your personality. I...
Very well said, MK...I had the same deal as you, now my Trade explorer is as green as a soccer pitch...!!!

I had a few bugs but closed all the screens and re installed the EA from page 1...it has solved the problem...

Trade well
Onwards and upwards...
  • #1,414
  • Jun 11, 2013 7:50am Jun 11, 2013 7:50am
Quoting WardStradlat
{quote} Personally, I turn it off at 11 p.m. and restart it at 8 a.m. I'm in France, so I trade Tokyo + London + New York sessions.
So? Do you close all trades before shutting down?

Surely there is risk of opening many trades when you first start up as your data feed refresh all the charts at once

Or you use other method, maybe disable EA until all charts are running?

Strange that you try to make a long term strategy in a daily trader

Each to their own I suppose

It takes a lot for me to IGNORE you, but you can try.
  • #1,415
  • Jun 11, 2013 7:59am Jun 11, 2013 7:59am
Quoting soccerfan
{quote} Very well said, MK...I had the same deal as you, now my Trade explorer is as green as a soccer pitch...!!! I had a few bugs but closed all the screens and re installed the EA from page 1...it has solved the problem... Trade well
I'll try re-installing it this weekend. Cheers
  • #1,416
  • Jun 11, 2013 8:08am Jun 11, 2013 8:08am
Quoting Erebus
{quote} So? Do you close all trades before shutting down? Surely there is risk of opening many trades when you first start up as your data feed refresh all the charts at once Or you use other method, maybe disable EA until all charts are running? Strange that you try to make a long term strategy in a daily trader Each to their own I suppose
Hi Erebus,

No, of course I don't close all trades.
The question was "Do you guys let your platform running 24/7?" : No I don't. It's like I disable the EA during the night. So, if W%R hits OS or OB zone during the night, a new position is not open.
  • #1,417
  • Edited 12:00pm Jun 11, 2013 11:25am | Edited 12:00pm
Heads up - If you're trading N/U, A/U, G/A, E/A, G/N or E/N, you need to look at the daily candles which are forming. This is a classic possible sign of bottom/top reversal. I may sit on the sidelines with these pairs just to see what next couple of days bring. They've all had really nice run ups til today. Maybe time for a little correction. Let's see.
  • #1,418
  • Jun 11, 2013 11:36am Jun 11, 2013 11:36am
Quoting MKFXTrader
Heads up - If you're trading N/U, A/U, G/A, E/A, G/N or E/N, you need to look at the daily candles which are forming. This is a classic possible sign of bottom/top reversal. I may sit on the sidelines with these pairs just to see what next couple of days bring. They've all had really nice runs up til today. Maybe time for a little correction. Let's see.
I JUST entered all of these pairs.


when I get home ill check if they're in consolidation zones, which I don't think they were.

In which case there is no reason it should reverse, regardless of how well it's done today.
  • #1,419
  • Jun 11, 2013 11:46am Jun 11, 2013 11:46am
Quoting Tok
{quote} I JUST entered all of these pairs. when I get home ill check if they're in consolidation zones, which I don't think they were. In which case there is no reason it should reverse, regardless of how well it's done today.
I didn't mention anything about how it's done today. I'm not talking about consolidation. I am merely giving a heads up of a potential reverse daily candle setup, that you normally see after a long run up/down. Doesn't mean it's going to definitely happen tomorrow. Who knows, but it is a definite sign a trader needs to take into consideration for a possible 1st sign of reversal or coming reversal. Do with the info what you will.
  • #1,420
  • Jun 11, 2013 11:48am Jun 11, 2013 11:48am
Quoting MKFXTrader
{quote} I didn't mention anything about how it's done today. I'm not talking about consolidation. I am merely giving everyone a heads up of a potential reverse daily candle setup, that you normally see after a long run up/down. Doesn't mean it's going to happen tomorrow but it is a sign one needs to take into consideration for a possible reversal. Do with the info what you will.
If it does happen, needless to say I will be going insane.
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