Third Screen Strategy - Dr. Alexander Elder | Page 106 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,101
  • Jul 2, 2013 10:55am Jul 2, 2013 10:55am
Hi 100pips.

i have posted the chart you asked for.
Making money is easy,losing money is easier
  • #2,102
  • Jul 2, 2013 11:39am Jul 2, 2013 11:39am
100PipsADay or Khaled, I have a general question/observation about the EA from post #1:

I have set DelayHours = 6 and time frame on all charts is Daily. On my NZD/USD chart there was no further trade opened even though the last trade was opened more than 6 hours ago and the %Williams is oversold.

But then, as soon as I switched to H1 chart, another trade was opened immediately!

My question is: Could it be that the charts have to be on H1 for the DelayHours to work correctly?

PS: The same just happened on my AUD/USD chart...I switched to H1 and another BUY was opened.
  • #2,103
  • Jul 2, 2013 1:29pm Jul 2, 2013 1:29pm
Hey 100pips, just wanted to thank-you.

I trade Cad/Jpy, Eur/Aud, Eur/Jpy, Gbp/Aud, Gbp/Nzd and Eur/Usd. I know E/U is not one of the favourites for this method but thought I would try it out and I have my first ever 1000 pipper.
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  • #2,104
  • Jul 2, 2013 2:01pm Jul 2, 2013 2:01pm
Quoting normtold
Hey 100pips, just wanted to thank-you. I trade Cad/Jpy, Eur/Aud, Eur/Jpy, Gbp/Aud, Gbp/Nzd and Eur/Usd. I know E/U is not one of the favourites for this method but thought I would try it out and I have my first ever 1000 pipper. {image}
Congrats Norm.
  • #2,105
  • Jul 2, 2013 3:40pm Jul 2, 2013 3:40pm
Quoting normtold
Hey 100pips, just wanted to thank-you. I trade Cad/Jpy, Eur/Aud, Eur/Jpy, Gbp/Aud, Gbp/Nzd and Eur/Usd. I know E/U is not one of the favourites for this method but thought I would try it out and I have my first ever 1000 pipper. {image}
  • #2,106
  • Jul 2, 2013 6:19pm Jul 2, 2013 6:19pm
Quoting 100PipsADay
{quote} These two demo accounts were definitely more aggressive then what I would normally trade on my live accounts.
Hi Pippie,

So for live accounts, do you trade lesser "maximum trades per pair" via EA OR using manual not the EA? Maybe you can enlighten us better on the settings if it's live trading on EA. In fact I am quite new to MT4 as I have been using NinjaTrader trading futures.

I have demo trial on the EA as well as manual entries. Manual entries can be emotional when PA gets in the reverse way but it's quicker to understand this system well and faster. So far, i am 2 days into it and all trades are positive, though I will not get large profits target. It's been a better proven trading strategy than others I have been working on. Nice one
  • #2,107
  • Jul 2, 2013 11:49pm Jul 2, 2013 11:49pm
Quoting 100PipsADay
{quote} These are my top 6 pairs that I would recommend for this strategy. You're right though, when market moves against you your account can get hit hard but obviously when market moves in your favor you will make very nice returns very quickly. I would stick with those pairs but make sure you don't over leverage yourself in case market moves against you. You want to still be around for the long haul...

Thanks for the advice
Obviously I'm not over leveraged, because I don't want to earn money quickly, but for the long haul, as you said.
  • #2,108
  • Jul 3, 2013 12:11am Jul 3, 2013 12:11am
Anyone trading long NZDUSD, for example? Right now everybody is speaking about winning trades only but losing ones are often more educating.
  • #2,109
  • Jul 3, 2013 12:29am Jul 3, 2013 12:29am
Quoting Indrek
Anyone trading long NZDUSD, for example? Right now everybody is speaking about winning trades only but losing ones are often more educating.
Look to the Trade Explorer at the top of this page; quite a few NZD-USD longs there

Most other systems / methods are short this pair for now

Another down day and the MACD will be negative again

Happens in transition / ranging periods

Hard to pick the top or bottom of any trend
It takes a lot for me to IGNORE you, but you can try.
  • #2,110
  • Jul 3, 2013 12:35am Jul 3, 2013 12:35am
I set this method up this Monday evening with all s/l settings given. Now 23 open positions with -1300Pips open. Lets see how this works out.
  • #2,111
  • Jul 3, 2013 12:42am Jul 3, 2013 12:42am
Quoting Indrek
Anyone trading long NZDUSD, for example? Right now everybody is speaking about winning trades only but losing ones are often more educating.
Yes, I am long on NZD/USD (daily MACD is UP and Williams% on H1 is oversold) with several positions according to the rules.
Quite red in the moment, let's see when market turns around and moving up...
  • #2,112
  • Jul 3, 2013 1:24am Jul 3, 2013 1:24am
Quoting Indrek
Anyone trading long NZDUSD, for example? Right now everybody is speaking about winning trades only but losing ones are often more educating.
Fair point INDREK, thanks for raising the point.

I like to refer to the trade explorer...you can look at my pairs, at the mo NZD/USD is short by my EA on 3 trades...it is ranging too much for me to trade it manually.

Cheers. S
Onwards and upwards...
  • #2,113
  • Jul 3, 2013 1:54am Jul 3, 2013 1:54am
100PipsADay, your demo #2 seems not be synced/updated anymore...
  • #2,114
  • Jul 3, 2013 1:55am Jul 3, 2013 1:55am
Quoting Olarion1975
100PipsADay, your demo #2 seems not be synced/updated anymore...
Yea I know, unfortunately Forex-Metal only allows 60 Days for Demo accounts until expiration. I'm trying to get it back activated, will keep everybody updated...
  • #2,115
  • Jul 3, 2013 2:01am Jul 3, 2013 2:01am
Quoting tikku
I set this method up this Monday evening with all s/l settings given. Now 23 open positions with -1300Pips open. Lets see how this works out.
Any chance of a screen shot or list of open trades?

What settings are you using?

Seems you may have started at exact wrong time?

It takes a lot for me to IGNORE you, but you can try.
  • #2,116
  • Jul 3, 2013 2:12am Jul 3, 2013 2:12am
Is that the best ever entry signal on the GBP-USD?

Or is there something going on I don't know about?

This could be 100 pips railroad track if it drops
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It takes a lot for me to IGNORE you, but you can try.
  • #2,117
  • Jul 3, 2013 2:27am Jul 3, 2013 2:27am
Quoting Erebus
Is that the best ever entry signal on the GBP-USD? Or is there something going on I don't know about? This could be 100 pips railroad track if it drops {image}

I don't trade this pair, but according to the rules, it seems the best ever entry signal.
All we need, is just to follow the rules.
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  • #2,118
  • Edited 4:10am Jul 3, 2013 3:42am | Edited 4:10am
I have not traded the system yet but logically and upon my overall experience I would say that good entries occur right after trend change. When price has moved for hundreds of pips after MACD changed its color then the trend may be nearing the end. So, it is not safe to jump in at any moment. Better to check how much has price moved since the change.
That is why I asked namely about NU today. It is the only pair that I personally watch that has changed its daily MACD color these days. So, it is the only one I would trade with this system right now. For all others - better to stay aside and wait for change.
  • #2,119
  • Jul 3, 2013 4:16am Jul 3, 2013 4:16am
Quoting WardStradlat
{quote} I don't trade this pair, but according to the rules, it seems the best ever entry signal. All we need, is just to follow the rules. {image}
And also we need to follow our logic to be safe. The first entries of the current trend were near 1.5500 level more than 10 days ago. Now we are 200+ pip lower. So, it is up to any trader's discretion if to enter or not. For me, it looks like a possible trend change.
  • #2,120
  • Jul 3, 2013 4:26am Jul 3, 2013 4:26am
Quoting Indrek
{quote} And also we need to follow our logic to be safe. The first entries of the current trend were near 1.5500 level more than 10 days ago. Now we are 200+ pip lower. So, it is up to any trader's discretion if to enter or not. For me, it looks like a possible trend change.
It will take more than just 1 daily candle to make a trend change, today's range is 144 thus far, not much more than the usual 126, just happens to all be in one direction!

USD news in the next 1 hour, so see how volatile it gets then, maybe it was already leaked to the big boys?

It takes a lot for me to IGNORE you, but you can try.
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