Third Screen Strategy - Dr. Alexander Elder | Page 108 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,141
  • Jul 4, 2013 6:18am Jul 4, 2013 6:18am
Quoting FxClown
{quote} MMs saw many coming and decided to short GJ GU. I am on the sidelines for these but see upside for EU.



good thing i waited and not enetred longs on gu and gj ! what a fall on both pairs ! now even better position to enter longs. will wait and enter at the right time. but it seems the jpy cross will be heading down for a while.

presently long on eu only.

its my day off today. so iam off for now ! see ya.........
  • #2,142
  • Jul 4, 2013 6:26am Jul 4, 2013 6:26am
Quoting whatfx
{quote} good thing i waited and not enetred longs on gu and gj ! what a fall on both pairs ! now even better position to enter longs. will wait and enter at the right time. but it seems the jpy cross will be heading down for a while. presently long on eu only. its my day off today. so iam off for now ! see ya.........

UJ is holding steady and should head north in coming days. GJ blow off should be almost done. Some upside possible for EJ.
I cashed my GN short a little early. Nevermind.

I do like 3SS but livetrading with EA needs very very careful sifting through its early signals and at trend reversals.
None the wiser!
  • #2,143
  • Jul 4, 2013 6:35am Jul 4, 2013 6:35am
Using 3SS signal and checking and rechecking and taking a small punt with GJ.
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None the wiser!
  • #2,144
  • Edited 8:32am Jul 4, 2013 7:43am | Edited 8:32am
I just beat my personal record...11,000+ PIPS floating profit on 90 positions and 13 pairs.

PS: Meanwhile several trades were closed with 1000+ pips profit. Another 10,000+ pips still running (hopefully to TP)...

I must admit that not all trades were taken by the EA...I opend some of them manually after analysing price action / chart patterns (e.g. double tops) and anticipated a trend reversal.
Attached Image
  • #2,145
  • Jul 4, 2013 8:46am Jul 4, 2013 8:46am
Quoting Olarion1975
I just beat my personal record...11,000+ PIPS floating profit on 90 positions and 13 pairs. PS: Meanwhile several trades were closed with 1000+ pips profit. Another 10,000+ pips still running (hopefully to TP)... I must admit that not all trades were taken by the EA...I opend some of them manually after analysing price action / chart patterns (e.g. double tops) and anticipated a trend reversal. {image}
Superb achievement. I need to learn patience and spend more time on analysis.
I get such great entries but fold at first sign of reversal.
None the wiser!
  • #2,146
  • Jul 4, 2013 9:48am Jul 4, 2013 9:48am
Quoting FxClown
{quote} Superb achievement. I need to learn patience and spend more time on analysis. I get such great entries but fold at first sign of reversal.
Yes, the hardest thing (mentally) is to stand the drawdown AND not to close trades early when you are in profit
In my case I was -5,000 PIPS in the red yesterday before market turned around today to a floating profit of 13,000+ PIPS.
Trades with a total of 1,600 PIPS profit have already reached TP. Another 87 positions float around at 12,000+ PIPS.
It's a cool feeling...
  • #2,147
  • Jul 4, 2013 10:12am Jul 4, 2013 10:12am
Hi to all,
I have studied this thread for about a month already. The hardest thing for this system is to watch the negative profit growing, may hit a few Stop Losses, and the EA is still placing more trades. This will make you very worry.

Well, this went away this morning. Please check out my demo account results. Great Results! 5%up.

100pipsAday, Great Work! Thank you.
Attached Image (click to enlarge)
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Keep learning while you are alive!
  • #2,148
  • Jul 4, 2013 10:29am Jul 4, 2013 10:29am
Could anybody help me with correct settings for a 1k account? 0.01 with 4 open trades on 5 jpy pairs ok?
Got blown on demo because i chose too many pairs and many run into s/l before market turned.
  • #2,149
  • Edited 12:15pm Jul 4, 2013 11:00am | Edited 12:15pm
Just a question, if I may. Has anybody backtested this EA for at least 12 months data? If yes then what were the results?
  • #2,150
  • Jul 4, 2013 12:37pm Jul 4, 2013 12:37pm
Quoting tikku
Could anybody help me with correct settings for a 1k account? 0.01 with 4 open trades on 5 jpy pairs ok? Got blown on demo because i chose too many pairs and many run into s/l before market turned.

AUD/JPY, CAD/JPY, EUR/AUD, GBP/AUD

0.01 lot size

4-8 positions per pair depending on preference
  • #2,151
  • Jul 4, 2013 12:38pm Jul 4, 2013 12:38pm
Well it looks like everybody is making money and is quite happy now that trends are starting to move in our favor!

Somebody mentioned a few days ago that "Patience is the Soul of this system" and I couldn't agree more!
  • #2,152
  • Jul 4, 2013 12:44pm Jul 4, 2013 12:44pm
Quoting 100PipsADay
Well it looks like everybody is making money and is quite happy now that trends are starting to move in our favor! Somebody mentioned a few days ago that "Patience is the Soul of this system" and I couldn't agree more!
Hey pip. Happy Independence Day. Although IMO, there needs to be a second independence day, if you know what I mean.
  • #2,153
  • Jul 4, 2013 12:51pm Jul 4, 2013 12:51pm
Quoting MKFXTrader
{quote} Hey pip. Happy Independence Day. Although IMO, there needs to be a second independence day, if you know what I mean.
Thanks bud! Same to you

Unfortunately I know exactly what you mean...
  • #2,154
  • Jul 4, 2013 1:18pm Jul 4, 2013 1:18pm
From looking at your explorer it looks like you do not have S/L and T/P set on some trades, you have some healthy T/P on some of them!


Quite a lot of my positions in Gbp/Aud, Eur/Aud, Gbp/Nzd and Eur/Nzd closed at T/P today so I have no open positions on those pairs.


G/N and E/N have been hugging the O/S all day so will be patient and wait for H1 O/B.
  • #2,155
  • Jul 4, 2013 3:57pm Jul 4, 2013 3:57pm
Ok folks just gone long on both gj and gu using my mobile phone don't have access to charts hope this pays off. My eu is losing at the moment
  • #2,156
  • Jul 4, 2013 5:07pm Jul 4, 2013 5:07pm
I was offline from thread awhile,but I must say that I was very profitable with this strategy.I think I mastered this strategy for these two or three months.Now I have three accounts,that are really great(profitable).I want to thanks again to mr. 100pipsaday,you done so much for all of us,I'm very thankful.And if you come sometime to Serbia or Montenegro CONTACT ME! .When I look back on my stupid questions that I asked ,hahaha I laugh out loud!But also from these stupid questions I learned a lot.I have milions of advice to all "newbies",but I don't have that much time to write them all right now ( I'm teaching trading some people and also I'm a student ) .I opened one independent account for EA ,even though I said that I trade only manualy-but just for fun.I'll give my best to write everything that I think is important for this strategy,from my point of view,in the next period.You can find all that things on this thread,essentially,but I want to draw your attention to very very important things.Keep trading this strategy , you are on right way.Practice,practice,practice!

*THIS POST IS ALSO SOME KIND OF MOTIVATIONAL SPEECH hahhaa- but I'm a bad speaker!
  • #2,157
  • Jul 4, 2013 5:53pm Jul 4, 2013 5:53pm
Quoting NikolaFX
I was offline from thread awhile,but I must say that I was very profitable with this strategy.I think I mastered this strategy for these two or three months.Now I have three accounts,that are really great(profitable).I want to thanks again to mr. 100pipsaday,you done so much for all of us,I'm very thankful.And if you come sometime to Serbia or Montenegro CONTACT ME! .When I look back on my stupid questions that I asked ,hahaha I laugh out loud!But also from these stupid questions I learned a lot.I have milions of advice to all "newbies",but I...
Excellent post Nikola! Keep up the good work
  • #2,158
  • Jul 4, 2013 7:00pm Jul 4, 2013 7:00pm
Quoting whatfx
Ok folks just gone long on both gj and gu using my mobile phone don't have access to charts hope this pays off. My eu is losing at the moment
Hi whatfx.. GBP/USD DAILY MACD is indicating SELL

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Onwards and upwards...
  • #2,159
  • Jul 4, 2013 7:14pm Jul 4, 2013 7:14pm
Quoting soccerfan
{quote} Hi whatfx.. GBP/USD DAILY MACD is indicating SELL {image}

oops , looks like i made a mistake. iam sure the gu chart i looked at indicated a sell. oh, sorry, it was a different chart, not third screen. anyway hope to get at least some pips out of the long ! the gj and eu were third screen. will close gu if goes into profit tomorrow. dont like keeping profitable trades open over weekends.
  • #2,160
  • Jul 4, 2013 9:47pm Jul 4, 2013 9:47pm
Hi 100PipsADay

I see you got long positions on gold and silver.Do you think we can trade gold and silver with Third Screen Strategy ,and how to set SL and TP, do you have a good idea?I test it for a long time but find it difficult .

BR
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