Third Screen Strategy - Dr. Alexander Elder | Page 97 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #1,921
  • Jun 20, 2013 9:48am Jun 20, 2013 9:48am
Well...lol...Since there's no way to say this without adding "yet another post", I have no choice but I'll keep it short.

Since Terry, the thread OWNER has the control thru using minimum vouches, the ignore and buddy lists if he wishes, I'd respectfully say leave it up to him. Trust me, he's a pretty sharp and fair guy. If he sees a need to do anything I'm sure he will.

If you all see a post you don't want to reply to, don't. Pretty simple in my book. But all these posts (especially in big bold type) are just disrespectful to folks.
Ghost Rider - WWTBMD?
  • #1,922
  • Jun 20, 2013 10:01am Jun 20, 2013 10:01am
Well said to you all, I regard myself as a newbie, I think i always will until I make trading a full time career...

I wonder if any of the Guys left here would share their method of preferences on Manual entries, especially the amount of trades you will want to make,

The EA will make multiple entries, as we know, would you do the same manually..? and up to what % of bank, these stop/losses can mount up if things go the wrong way...

Cheers,S
Onwards and upwards...
  • #1,923
  • Jun 20, 2013 3:35pm Jun 20, 2013 3:35pm
wow 24% negative drawdown in a week on this system ... should look into some money management tactics to retain some capital
  • #1,924
  • Jun 20, 2013 11:45pm Jun 20, 2013 11:45pm
Quoting albchr
Well...lol...Since there's no way to say this without adding "yet another post", I have no choice but I'll keep it short. Since Terry, the thread OWNER has the control thru using minimum vouches, the ignore and buddy lists if he wishes, I'd respectfully say leave it up to him. Trust me, he's a pretty sharp and fair guy. If he sees a need to do anything I'm sure he will. If you all see a post you don't want to reply to, don't. Pretty simple in my book. But all these posts (especially in big bold type) are just disrespectful to folks.

Nicely put

Personally I add the muppets to my ignore list and this thread has contributed a few more for the list.

I am concentrating on trading so won't be posting much until the majority of posts are back on track.

Happy pip hunting to those of you that do not need to be spoon fed.
"To live with Passion, it takes Courage and Grace to survive"
  • #1,925
  • Jun 21, 2013 12:04am Jun 21, 2013 12:04am
Quoting domino
wow 24% negative drawdown in a week on this system ... should look into some money management tactics to retain some capital
Really? I strted with 50k little more than a week ago and im at 63k equity with min dd?
  • #1,926
  • Jun 21, 2013 3:18am Jun 21, 2013 3:18am
Quoting soccerfan
I wonder if any of the Guys left here would share their method of preferences on Manual entries, especially the amount of trades you will want to make, The EA will make multiple entries, as we know, would you do the same manually..?
I only go up to about three pairs at a time, manually. This is because most of the time there's a dominant currency or two whose behaviour is giving you most of the returns. An example would be JPY or AUD lately - I don't see any reason to have positions in all the JPY or AUD pairs, I just pick the best one and stick with that.

I also dislike opening multiple entries unless and until the preceding entry (or entries) is looking quite safe. I certainly don't wait until TP is reached, but I won't open new entries while the previous one is in drawdown, for example.

I do a couple of other little things a differently to the main strategy (many of which help smooth my equity curve while admittedly potentially limiting profits somewhat):
- I often close a third of each order once it's in a decent amount of profit.
- I often close another third at the TP point and take a view on whether I can hang on to the last third for longer. Ideally, I'm after those couple of times in a year where a pair takes off on a multi-week tear - JPY or AUD pairs of late would have been a good example. If you can bag a couple of positions for moves like that, you do very well indeed.
- I often move my stoploss once things have moved strongly in my direction. I don't necessarily take it as far as break even - usually I stick it a decent few pips above the prior swing high.
- Once the required OB/OS condition is reached, I tend to look for some sort of price action on the shorter term for an entry. For example, I'll look for a pin par, outside bar, or range breakout on the 5 or 15 minute timeframe.

Some of my thinking is influenced by the Equity Millipede thread: http://www.forexfactory.com/showthread.php?t=245149.

op
  • #1,927
  • Jun 21, 2013 4:06am Jun 21, 2013 4:06am
took longs yesterday on gj, ej, and uj. when williams 1hr was oversold . all three now in profit over 150 pips i think. will close positions as dont like keeping open over weekend.

a very good week banking over 400 pips, with hardly any screen time. less than 30 mins spent trading . not bad eh ?

good money to be made on long jpy pairs folks.


in my opinion this strategy is better than 100 pips 20/50 ema system.

happy weekend.
  • #1,928
  • Jun 21, 2013 4:24am Jun 21, 2013 4:24am
Quoting albchr
Well...lol...Since there's no way to say this without adding "yet another post", I have no choice but I'll keep it short. Since Terry, the thread OWNER has the control thru using minimum vouches, the ignore and buddy lists if he wishes, I'd respectfully say leave it up to him. Trust me, he's a pretty sharp and fair guy. If he sees a need to do anything I'm sure he will. If you all see a post you don't want to reply to, don't. Pretty simple in my book. But all these posts (especially in big bold type) are just disrespectful to folks.
----------------------------------------------

Another way to help maintain civility and decorum is to report offensive postings to "Clean up".

Last evening I reported one and Twee obliged by removing it.
  • #1,929
  • Jun 21, 2013 5:10am Jun 21, 2013 5:10am
Quoting minortrader
{quote} ---------------------------------------------- Another way to help maintain civility and decorum is to report offensive postings to "Clean up". Last evening I reported one and Twee obliged by removing it.
Yep, did that myself yesterday afternoon in here and just received Twee's email this morning.
Ghost Rider - WWTBMD?
  • #1,930
  • Jun 21, 2013 5:13am Jun 21, 2013 5:13am
Quoting sidhujag
{quote} Really? I strted with 50k little more than a week ago and im at 63k equity with min dd?
LOL yeah, apparently folks don't bother looking at the overall results either. As of yesterday, one account 30 days old and up 28.5%. The other 53 days old and up 42.4%. Oh my, how terrible....
Ghost Rider - WWTBMD?
  • #1,931
  • Jun 21, 2013 1:30pm Jun 21, 2013 1:30pm
Quoting sidhujag
{quote} Really? I strted with 50k little more than a week ago and im at 63k equity with min dd?

hey hey simmer down... im just saying 24% drawdown is dangerous .. not bashing your system just saying maybe you should try to figure out how to refine it so you dont have a 24% drawdown
  • #1,932
  • Jun 21, 2013 1:33pm Jun 21, 2013 1:33pm
Quoting FxClown
{quote} I share your observations. Unfortunately, youngsters just want to get rich quick regardless of who gives them that magic pill. It is the times we live in! Anyways, 3SS is a system that works because far smarter people have written about it and proved it. Of course you have to know about key news events that swing tides and divergences. I come back to the youngsters and those naive many who have tried so many magic pills and failed. This system requires patience and asks you to identify the TIDE. Then recognise the wave, and the ripples within....
Thank you for the kind post FxClown
  • #1,933
  • Jun 21, 2013 1:36pm Jun 21, 2013 1:36pm
Quoting DrNoStopLoss
Good Morning Everyone, First a big thank you to 100PipsADay. Why you ask? 2 main reasons: 1. Kicking out all the noobs who continue to ask question, after question when all have been answered. Honestly this thread is not long at all, (under 100 pages as of now) and the only reason you ask such noob questions is because you are lazy. This is not our problem. Wait till the thread grows to 400 pages, then you will wish you started when I said. So please if your going to make any contributions first read, take notes, demo, then ask. That is all we ask....
Feel free to share your idea, I'm all ears!
  • #1,934
  • Jun 21, 2013 1:41pm Jun 21, 2013 1:41pm
Quoting forexvegan
I have read the thread and wondering why on the Daily MACD the AUD.JPY is clearly bearish, yet I got a BUY signal? Anyone have this answer? The signals did not cross on the MACD and the bars are clearly red, then why are we having a long on the EA?
One couldn't ask for a better setup to go long in regards to AUD/JPY!

It is clearly the end of the 3 month down trend...
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY_D1.png Size: 114 KB
  • #1,935
  • Jun 21, 2013 1:44pm Jun 21, 2013 1:44pm
Quoting domino
wow 24% negative drawdown in a week on this system ... should look into some money management tactics to retain some capital
I just so happened to increase my lot sizing for each pair right before the recent moves in the market. Obviously people need to figure out if they want to trade conservatively, moderately, or aggressive.

Money Management is a whole other topic which I don't really like to get into...
  • #1,936
  • Jun 21, 2013 1:59pm Jun 21, 2013 1:59pm
Quoting whatfx
took longs yesterday on gj, ej, and uj. when williams 1hr was oversold . all three now in profit over 150 pips i think. will close positions as dont like keeping open over weekend. a very good week banking over 400 pips, with hardly any screen time. less than 30 mins spent trading . not bad eh ? good money to be made on long jpy pairs folks. in my opinion this strategy is better than 100 pips 20/50 ema system. happy weekend.
  • #1,937
  • Jun 21, 2013 2:07pm Jun 21, 2013 2:07pm
Quoting 100PipsADay
{quote} I just so happened to increase my lot sizing for each pair right before the recent moves in the market. Obviously people need to figure out if they want to trade conservatively, moderately, or aggressive. Money Management is a whole other topic which I don't really like to get into...
Aloha ahiahi pippy, Have a nice weekend.
  • #1,938
  • Jun 21, 2013 2:09pm Jun 21, 2013 2:09pm
Quoting MKFXTrader
{quote} Aloha ahiahi pippy, Have a nice weekend.
Hahaha, thanks MKFX!

You too buddy.

I'll be heading back to our family camp out fairly soon, I was away yesterday and today and will be at the beach (camp site) for the rest of the weekend.
  • #1,939
  • Jun 21, 2013 2:21pm Jun 21, 2013 2:21pm
Quoting 100PipsADay
{quote} Hahaha, thanks MKFX! You too buddy. I'll be heading back to our family camp out fairly soon, I was away yesterday and today and will be at the beach (camp site) for the rest of the weekend.
Lucky dog. Don't let the undertoe get ya.
  • #1,940
  • Jun 22, 2013 12:10am Jun 22, 2013 12:10am
Quoting 100PipsADay
{quote} One couldn't ask for a better setup to go long in regards to AUD/JPY! It is clearly the end of the 3 month down trend... {image}

Very interisting.

You are long on AUD/JPY.

TCO trader EA are short on AUD/JPY.

We will see on monday.
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