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Attachments: Third Screen Strategy - Dr. Alexander Elder
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Third Screen Strategy - Dr. Alexander Elder

Quoting Erebus
{quote} I think what he saying is that there should be some automatic position sizing & stop loss build into the EA @ Discomania - you can input the position size and stop loss applied to each pair - it is up to you to do the calculation before placing the EA on the chart - If your account is small, reduce the number of positions, sure you can trade 2 lots of 0.01 and be at 2%? - also, reduce the number of pairs down to 8 - if you get 5 trades open, with 2 on each pair, total risk is 10% - then just right click and remove EA from remaining charts...
Oh Something new Why Right click and remove E A from remaiing charts , Mean to lock E A in chart ? and how to take out remove if need be ? Sorry so much question but im vastly improve .
Just dropping in to say hi and thanks for this thread.

I've dabbled in forex for the last few years, but despite some success, I've struggled to find the time to trade enough to make it worth my while. My favourite approach involves London breakouts, but they just need too much monitoring at a time of day when I can't justify the time.

I've started testing this system and it really fits in with the time I have to trade. Results are pretty good so far too

Incidentally, this approach has some points in common with Graham's Equity Millipede thread (i.e, working from higher timeframes down to the lower - not that that's a particularly unique approach - and "stacking" several positions as the trend develops). I won't clutter this thread up with any more than that, but if you're interested in exploring the concept of very long term trading based on short-term entries, it's worth a look.

Now I'm going to gaze lovingly at my CAD/JPY shorts for a minute before getting back to work!

cheers
op

PS - Britpip, I have the same trendlines drawn in for GBP/USD, although I haven't been trading that pair with this system.
100pips, many thanks for everything you've contributed to this thread. Such a clean and simple system is a revelation.

A quick question about SL & TP targets: have you worked these out on a long-term empirical basis, or do you base them on something shorter term such as ATR? In particular, I'm curious about whether you adjust them periodically to account for changes in long-term trading conditions.

Many thanks
op
Quoting Erebus
{quote} I think what he saying is that there should be some automatic position sizing & stop loss build into the EA @ Discomania - you can input the position size and stop loss applied to each pair - it is up to you to do the calculation before placing the EA on the chart - If your account is small, reduce the number of positions, sure you can trade 2 lots of 0.01 and be at 2%? - also, reduce the number of pairs down to 8 - if you get 5 trades open, with 2 on each pair, total risk is 10% - then just right click and remove EA from remaining charts...

Dear Erebus,
thanks you very much for your Explanation.
I will do in this way.

Best Regards,
discomania
Dear 100pipsaday,
dear Khald,

I hav see that all Position right now are closed, much of them not at SL or TP targe, so I think 100pipsaday have closed manually.
Can I ask why? with is the reason:
I have done the same in my demo account to see wenn Position are opened same way with 100pipaday account.
I see that my account have opened already 1 buy Position in eurusd and 1 buy Position on gbpusd but 100pipsa day account was not opened, any issue on my Setting?

Thanks you.
Best regards,
discomania
Quoting khaled_ctg
I think it would better to upload the EA files again here to eliminate confusions of new comer here. Here you goes. . . .. {file} {file} {image}
Now we wait for the thousands of questions "HOW TO INSTALL EA,REGULARY?".
Hi Mr. HP,

How you come up with SL $ TP for each pair?

tks

MB
I am currently testing this system with different settings since last week. No time at all acctually, but, it does produce impressive results.

Even if it doenst work out, I've finally realised the truthfullness of the old trading adage's:
"The trend is you friend"
"Set it and forget it"

Heard them a million times, but was always looking to optimize, finetune and I dont now what.
I just couldnt belive that such a simple approach could be long term productive (an masively productive at that).

So thanks a lot 100 pips, I owe you big time.
Thoughts are things
Same as Quezoy, here. Have been testing for the past two weeks. Impressive results so far. Balance +20% and equity +22%. Obviously this is not the holy graal and we have been on the good side of the road so far (only 1 loss for 18 wins). Will keep on demo trading to see how things turn on in terms of drawdown, but clearly it is a profitable systems.

Many thanks for sharing 100pips !
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...

OK. 100pips, what really matters is the PASR, decide on which pair you have to activate the EA and in which direction (BUY vs. SELL).


Thanks for your help and your advice. many Thanks

Orlando
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...
Fantastic idea

The EA questions are rather distracting and if folks just can't be bothered to read up on the thread then they need to find another method - harsh but we were all newbies once and those of us that have been around for a while have spent many many hours reading full threads, analyzing charts and contributing, so please read the thread and use the support thread from Erebus.
"To live with Passion, it takes Courage and Grace to survive"
short ej,uy,cy,gy on live acount,.. if the day will close like a positiv day..am finisht!
Quoting shum
short ej,uy,cy,gy on live acount,.. if the day will close like a positiv day..am finisht!
First : Don't panic.

Second : Could you give exact date/time and entry prices for your positions ? So we can better estimate what can be done to save the situation.

Third : What was your motivation for the trade ? Was it by the rules of the Thirdscreen strategy. Did you enter with the EA or did you enter yourself ?

Actually, after such a strong move up in the yen pairs, I am expecting profit taking and a small retracement. This might be helpful for you . But again, this is just my subjective opinion. Anything can happen in the markets.
Quoting shum
short ej,uy,cy,gy on live acount,.. if the day will close like a positiv day..am finisht!
Anything wrong with this picture? Nothing else open, beside these yen pairs?
enter with the rules, ea was enabled 2 hours ago, and this is the opening trade

http://i5.pixs.ru/storage/3/9/1/fgfj...31_8203391.jpg
Quoting MKFXTrader
{quote} Anything wrong with this picture? Nothing else open, beside these yen pairs?
no I desable other pairs
Quoting shum
enter with the rules, ea was enabled 2 hours ago, and this is the opening trade {image}

Hi Shum,

I looked at your position in EURJPY. The other positions are similar.
I suppose your timezone is somewhere near Central European Time. That means, you took that trade some 3 hours ago.

As far as the thirdscreen strategy is concerned, this trade is OK. However, we have a strong run-up of Yen pairs like EURJPY, USDJPY ( This means the Yen itself weakens again) at the moment. Your loss is around -100 pips now, which is within the parameters of the system. Actually, you would want to take another short at this level. Only, your equity does not allow it. Which brings me to conclude that this is your mistake :

With a balance of $1000, you can't take 0.10 contracts size. According mr. 100Pips, in a $5000 account , trading 4 pairs, yes. But in a $1000 account you should have diminished the size accordingly to 0.02. Of course , I understand this does not help you much for the moment. I am sorry.

What you can do now ? Wait and hope it will go down again and at that moment you must reduce your size or liquidate completely in order to get back to the desired size of 0.02.

When, at a certain moment, you see the current trend reverse, you might add another short at that level, but with your equity level this is a risky operation. According to the system rules however, you should even open 3 to 7 more short positions, but now you have no chance to do that.

I wish you the best with these positions and I hope you will get out of them safely.
Holy cow, with a $6k account I am trading .01 lots. Don't over expose yourself. Way I see it max lost per pair with 8 positions per pair is 2% of my account. I am trading 12 pairs. I can sleep at night :~)
Hi guys,

The trades that Shum took, bring to me another thought :

In the last few weeks we had a donwtrend in the Yen pairs. This will not last forever.At a certain moment , there will come a reversal. In the last few days, a lot was discussed about a reversal in the AUD. This is happening right now.

But could it be possible that we are facing a reversal also at this moment in the Yen pairs? What I mean to say is : Are the Yen pairs like USDJPY etcetera going to rise again right now ?
I am not sure of it, but it could very well be possible. What is your opinion ?
Quoting shum
{quote} no I desable other pairs
Interesting blog to read, for all actually

http://andreitaga.wordpress.com/cate...general-ideas/

Maximize wins, minimize loss, stay in the game as long as you can
Counter-Trend Entry Return This Week: -3.8%
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