Third Screen Strategy - Dr. Alexander Elder | Page 75 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #1,481
  • Edited 2:12pm Jun 12, 2013 12:19pm | Edited 2:12pm
Quoting crottsinabox
Hey I just wanted to share an article I found online about correlated currency pairs. MKFX mentioned them the other day and I have been reading about them http://www.investopedia.com/articles.../05/051905.asp I noticed how some currency pairs charts moved almost identically to each other. This might help some of the newer traders out there skim down the pairs they watch since some of them move the same(or in some instances, completely opposite) Edit: MKFX in the case of the EUR/USD and the USD/CHF. Seeing as how these are...
In the case of E/U and U/CHF, it just doesn't make much sense to have open positions on both pairs, even if it is in opposite direction. Why would you do that? It's basically the same as you doubling up on one pair. These two pairs are roughly 90% inversely correlated and my advice would be to just pick one pair and trade it. Hope this answers.

  1. If the correlation is high (above 80) and positive then the currencies move in the same way.
  2. If the correlation is high (above 80) and negative then the currencies move in the opposite way.
  3. If the correlation is low (below 60) then the currencies don't move in the same way.

You can check correlations here.
http://www.forexmarkethours.com/correlation/06/

  • #1,482
  • Jun 12, 2013 1:39pm Jun 12, 2013 1:39pm
This strategy is proven enough for me.I'll set larger lot 0.3....or even 0.5.My account will survive.
  • #1,483
  • Jun 12, 2013 2:08pm Jun 12, 2013 2:08pm
Just we have to keep in mind that, with this strategy, it's SL ou TP hits. So, when we plan a strategy, we must consider losses, on average 30% per pairs.
Be careful when you start : don't take positions with high leverage.
  • #1,484
  • Jun 12, 2013 2:11pm Jun 12, 2013 2:11pm
Quoting WardStradlat
Just we have to keep in mind that, with this strategy, it's SL ou TP hits. So, when we plan a strategy, we must consider losses, on average 30% per pairs. Be careful when you start : don't take positions with high leverage.
Leverage has nothing to do with it. You are referring to position size/lots.
  • #1,485
  • Jun 12, 2013 2:14pm Jun 12, 2013 2:14pm
Quoting MKFXTrader
{quote} In the case of E/U and U/CHF, it just doesn't make much sense to have open positions on both pairs, even if it is in opposite direction. Why would you do that? It's basically the same as you doubling up on one pair. These two pairs are roughly 90% inversely correlated and my advice would be to just pick one pair and trade it. Hope this answers. If the correlation is high (above 80) and positive then the currencies move in the same way. If the correlation is high (above 80) and negative then the currencies move in the opposite way. If the...
Thats what I was starting to notice the other day. I dropped the usd/CHF pair. Thanks for the help. I knocked off 2 yen crosses also. Currently short on usd/JPY and doing awesome. I missed a few entries this morning cause I was busy but no big deal. Still up 100 pips!
  • #1,486
  • Jun 12, 2013 3:16pm Jun 12, 2013 3:16pm
Dear Traders , Always problem with connection here , When disconnection then put connection back , Does it disrupt E A and disrupt 8 Max Position and 6 hr Delay . Thanks , Malcolm
  • #1,487
  • Jun 12, 2013 3:22pm Jun 12, 2013 3:22pm
Quoting terminator12
Dear Traders , Always problem with connection here , When disconnection then put connection back , Does it disrupt E A and disrupt 8 Max Position and 6 hr Delay . Thanks , Malcolm
Does NOT interrupt or reset either.
  • #1,488
  • Jun 12, 2013 3:27pm Jun 12, 2013 3:27pm
Quoting Tok
{quote} Leverage has nothing to do with it. You are referring to position size/lots.
Yeah, that right. Sorry for the mistake :nerd:
  • #1,489
  • Jun 12, 2013 4:41pm Jun 12, 2013 4:41pm
Quoting terminator12
Dear Traders , Always problem with connection here , When disconnection then put connection back , Does it disrupt E A and disrupt 8 Max Position and 6 hr Delay . Thanks , Malcolm
Learn about this now, be ready for the day you want one

Virtual Private Servers and Virtual Desktops perform and execute exactly like stand-alone computers; VPSs can be rebooted independently and have users, IP addresses, processes, system libraries and configuration files. When employed as a virtual desktop, subscribers enjoy an "always running" desktop, running on the already familiar Microsoft Windows platform with a lightening fast Internet connection, regardless of the speed between the remote desktop client and server.

Source: http://www.commercialnetworkservices.com/VPS/
It takes a lot for me to IGNORE you, but you can try.
  • #1,490
  • Jun 12, 2013 7:06pm Jun 12, 2013 7:06pm
I have traded with Third Screen Strategy for about half a year and made some profits .Thanks for the great Thread.

Only 3 days, got 4093 pips.

Attached Image
  • #1,491
  • Jun 12, 2013 7:11pm Jun 12, 2013 7:11pm
Quoting WardStradlat
Just we have to keep in mind that, with this strategy, it's SL ou TP hits. So, when we plan a strategy, we must consider losses, on average 30% per pairs. Be careful when you start : don't take positions with high leverage.
Hi Wardstradlat, you do make a great point, thanks,

we should start with caution until we are really ready to increase our stake,

at the start of the Asian session, a few days ago, there was a lot of red on the charts and a few nervous traders..!!

Cheers, S
Onwards and upwards...
  • #1,492
  • Jun 12, 2013 9:06pm Jun 12, 2013 9:06pm
GU has an interesting look with regards to channels at the moment - worth bearing in mind with the current PA.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily 6-12-2013.png Size: 87 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,493
  • Jun 12, 2013 9:18pm Jun 12, 2013 9:18pm
Quoting Britpip7
GU has an interesting look with regards to channels at the moment - worth bearing in mind with the current PA.
If we are going to discuss other analysis, methods & chart patterns here, just to let you know, the TURTLES are LONG

GET ON THAT BUCKING HORSE & RIDE IT

Attached Image (click to enlarge)
Click to Enlarge Name: 0083.png Size: 45 KB
It takes a lot for me to IGNORE you, but you can try.
  • #1,494
  • Jun 12, 2013 10:37pm Jun 12, 2013 10:37pm
Quoting Tok
{quote} Leverage has nothing to do with it. You are referring to position size/lots.
Huh? Leverage is a function of trade size and account balance....
Small disciplines repeated with consistency lead to great achievements.
  • #1,495
  • Jun 12, 2013 11:26pm Jun 12, 2013 11:26pm
Quoting MKFXTrader
{quote} Does NOT interrupt or reset either.
MKF Thanks
  • #1,496
  • Jun 12, 2013 11:30pm Jun 12, 2013 11:30pm
Quoting Erebus
{quote} Learn about this now, be ready for the day you want one Virtual Private Servers and Virtual Desktops perform and execute exactly like stand-alone computers; VPSs can be rebooted independently and have users, IP addresses, processes, system libraries and configuration files. When employed as a virtual desktop, subscribers enjoy an "always running" desktop, running on the already familiar Microsoft Windows platform with a lightening fast Internet connection, regardless of the speed between the remote desktop client and server. Source: http://www.commercialnetworkservices.com/VPS/...
Erebus Did apply with Broker for V P S and will let me know within 3 days , And its free , Worth it , Thanks
  • #1,497
  • Jun 12, 2013 11:30pm Jun 12, 2013 11:30pm
Quoting Fishcoo
I have traded with Third Screen Strategy for about half a year and made some profits .Thanks for the great Thread. Only 3 days, got 4093 pips. {image}
Hi Fiscoo, where did you go? Just missing u.
KISS - Keep It Simple Smart !!!!
  • #1,498
  • Jun 12, 2013 11:35pm Jun 12, 2013 11:35pm
Quoting Erebus
{quote} If we are going to discuss other analysis, methods & chart patterns here, just to let you know, the TURTLES are LONG GET ON THAT BUCKING HORSE & RIDE IT {image}
GO TURTLES
"To live with Passion, it takes Courage and Grace to survive"
  • #1,499
  • Jun 12, 2013 11:41pm Jun 12, 2013 11:41pm
Quoting 100PipsADay
{quote} 1st Attachment - Recently Closed Positions 2nd Attachment - Current Open Positions 3rd Attachment - Current Balance & Equity I was stopped out last night with my EUR/AUD long position which was opened up yesterday. I also have one new AUD/JPY short position which was opened up last night. Current Balance is basically flat and Equity is up about 10%. {image} {image} {image}
$5k Live Test Progress

1st Attachment - Recently Closed Positions
2nd Attachment - Current Open Positions
3rd Attachment - Current Balance & Equity

Alright, just got home and noticed that I had 2 AUD/JPY and 2 CAD/JPY short positions hit their Profit Targets. Up roughly 20% on the balance and about 30% with my equity.

Excellent week so far!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Recently_Closed_Positions.png Size: 60 KB
Click to Enlarge Name: Current_Open_Positions.png Size: 25 KB
Click to Enlarge Name: Current_Balance_&_Equity.png Size: 10 KB
  • #1,500
  • Jun 12, 2013 11:49pm Jun 12, 2013 11:49pm
Quoting khaled_ctg
{quote} Hi Fiscoo, where did you go? Just missing u.
Hi khaled_ctg

How are you.I think this strategy is very simple so we can trade very easily.The system is good for now so don't change it just follow the rules.I just want to learn something about the PASR and MM .It is also very important.

BR
Fishcoo
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