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Third Screen Strategy - Dr. Alexander Elder

  • #2,181
  • Jul 5, 2013 5:48am Jul 5, 2013 5:48am
gracias 100 pips
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  • #2,182
  • Jul 5, 2013 9:29am Jul 5, 2013 9:29am
Quoting 100PipsADay
{quote} Unfortunately I put in 3 lots instead of .3 for both Gold and Silver

Good lesson on watching the decimal place.
  • #2,183
  • Jul 5, 2013 3:40pm Jul 5, 2013 3:40pm
First thing after i was unbanned is that i want to say sorry for what i did 100Pips .

Second thing . I want to say a very big THANK YOU 100Pips and everyone who made this strategy available for all of us who want to make easy money .
BIG HUG to 100Pips , Khaled and everyone who helped making this strategy and EA .

Third thing . http://www.forexfactory.com/purec -> 50 % from Wednesday till Friday ( now ) . Ofcourse yesterday and today news helped but still , it's 50 % in 3 days ( My account have 10 days but until this Wednesday i traded small - 1 lot , from Wednesday i trade 10 lots / trade . I do that to calculate what I will make with a 500 $ initial investment with a 0.01 lot / trade ) . Where on EARTH you make 50% of your investment in 3 days :O ?

I will give the response , NOWHERE !!!

That being said . Thank you 100Pips and everybody who helped to make this wonderfull strategy .

Keep it up !!!

P.S.:Sorry if i didn't write gramatically correct buy English is my second language .
Make choices and don't look back !
  • #2,184
  • Jul 5, 2013 4:28pm Jul 5, 2013 4:28pm
Did you made the 50 % manually or with the EA ??
How to opt out annoying user signatures ??
  • #2,185
  • Jul 5, 2013 5:05pm Jul 5, 2013 5:05pm
Quoting Toranaga
Did you made the 50 % manually or with the EA ??
EA , fully automatic .
Make choices and don't look back !
  • #2,186
  • Edited 5:49pm Jul 5, 2013 5:21pm | Edited 5:49pm
Test it 4 weeks longer and we will see.

But without wanting to sound like a smart ass
first try to trade profitable the system about half to one year manually and then think about trying the EA..

Imagine, could it be possible to find so easy a free EA that makes constant profits
(without the need knowing trading) ?? and everything is fine ?? No ? Yes ? Really ?

Like 80 % of the D1 Ema "traders" to much people want quick money without knowledge.

That was not directed directly to you,
but 50 % in 3 days does not say anything, except greed and...

Wish you all the best, but...

How to opt out annoying user signatures ??
  • #2,187
  • Jul 5, 2013 8:10pm Jul 5, 2013 8:10pm
Hi guys, i think the whole EA trade strat still needs to be managed well, not too many pairs, not too many trades, i have got the trade explorer on my profile for all to look at..8 pairs, EA set to 6 trades each max.

People are having great results with a 100 grand bank, but would you risk all that cash in real life..???

My demo account has $5,000 bank,

0.1 lots are the EA trades, 0.11 lots is manual ...i only have the PC/EA working for a random hour or 2 per day,

( the 1 lot trades are my own strat.) have a look and see how it is working.

Thanks to all (esp 100 pips) for helping me with this strat , ...
Onwards and upwards...
  • #2,188
  • Jul 5, 2013 9:58pm Jul 5, 2013 9:58pm
Hi 100PipsADay,
How you doing? I can say that I am doing great this week !!!!

You know I have started trading with my live account this week. There were 2 GBPAUD short. One was closed with 400 pips SL. Another one is now 10 pips floating profit. 2 GBPUSD, 1 EURUSD, 1 GBPNZD, 1 GBPCAD closed with green and net profit is 10% of my account balance. Not bad.
1 EURUSD, CADJPY, USDJPY, AUDJPY, NZDJPY, GBPAUD, EURAUD still on the play. Hope they will be closed green by next week. I let the trade open by EA but managing manually. Thanks for your great advice. And looking for your advice for next week.

@Purec : Nice to see you Purec again here. Keep your trade up.

Have a nice weekend to all.
KISS - Keep It Simple Smart !!!!
  • #2,189
  • Jul 5, 2013 11:16pm Jul 5, 2013 11:16pm
Great to hear such positive success with the system!
I love forex. One day it will love me back.
  • #2,190
  • Edited 3:24am Jul 6, 2013 1:39am | Edited 3:24am
Quoting Toranaga
Test it 4 weeks longer and we will see. But without wanting to sound like a smart ass first try to trade profitable the system about half to one year manually and then think about trying the EA.. Imagine, could it be possible to find so easy a free EA that makes constant profits (without the need knowing trading) ?? and everything is fine ?? No ? Yes ? Really ? Like 80 % of the D1 Ema "traders" to much people want quick money without knowledge. That was not directed directly to you, but 50 % in 3 days does not say anything, except greed and......
You are absolutely right, Toranaga. Trading is anyway a hard manual job and there is no direct way to become rich without contributing huge time and effort.
Besides, I backtested the EA on some pairs (the pairs that 100pip mentioned as best). With the mainstream settings of this thread (max 8 positions per pair taken authomatically and permanently), I saw big drawdown during 2012. If trading 10 pairs, you would lost many accounts easily. Only during last 3-4 months the EA has performed well, due to special market conditions.
Once again: I am not criticizing the system - it is very good. But it should be NOT traded authomatically and blindly. It is absolutely irrelevant how many pips you make this or next month, it is all about how much money you make long term (in a year, 2 years, 10 years).
I always wonder why people need EA-s to trade hourly or daily charts... I may understand using EA-s on 30 sec charts but hourly... Have to be very lazy and very ignorant.
Thanks, 100pip, for the great system. Congratulations to all serious (manual) traders who have discovered this thread!

P.S. Please note also that with this system you have to use tiny lots to afford opening very many trades. Someone mentioned having 90 trades open at a time. It means that if usual lot size is, for example, 1 lot then now you have to use 0.01 lots. Now, if we make 11 000 pips with the system, then in fact we have made 110 pips only. And that is with HUGE market exposure, much drawdown, paying swaps etc etc.
Besides, the number of pips made means nothing as real result is measured in money only. And floating profit is, for sure, just a number and it is saying nothing about the overall performance.
  • #2,191
  • Jul 6, 2013 4:59am Jul 6, 2013 4:59am
Quoting Toranaga
Test it 4 weeks longer and we will see. But without wanting to sound like a smart ass first try to trade profitable the system about half to one year manually and then think about trying the EA.. Imagine, could it be possible to find so easy a free EA that makes constant profits (without the need knowing trading) ?? and everything is fine ?? No ? Yes ? Really ? Like 80 % of the D1 Ema "traders" to much people want quick money without knowledge. That was not directed directly to you, but 50 % in 3 days does not say anything, except greed and......
You have 100 times more experience than me , but I don't think is true what you say in bold

Every trade was 10 lots which is aprox. 2000-2500 euro on my demo account. That's not even 1%

And I've never had trades more than 50000 , which is 10% of account .

So I don't know how could i be greedy ... Positions are opened by EA with less than 1% per trade . Where is greed in this ?
Make choices and don't look back !
  • #2,192
  • Jul 6, 2013 5:45am Jul 6, 2013 5:45am
Quoting Purec
{quote} You have 100 times more experience than me , but I don't think is true what you say in bold Every trade was 10 lots which is aprox. 2000-2500 euro on my demo account. That's not even 1% And I've never had trades more than 50000 , which is 10% of account . So I don't know how could i be greedy ... Positions are opened by EA with less than 1% per trade . Where is greed in this ?
What you do on your demo account does not have any meaning for real trading. After you have traded 10 lots per trade on real account, and have done it for at least one full year with consistent profit, you can make first conclusions.
  • #2,193
  • Jul 6, 2013 5:49am Jul 6, 2013 5:49am
Quoting Indrek
{quote} What you do on your demo account does not have any meaning for real trading. After you have traded 10 lots per trade on real account, and have done it for at least one full year with consistent profit, you can make first conclusions.
Read post 2183 before talking ok ?!
Make choices and don't look back !
  • #2,194
  • Edited 10:56am Jul 6, 2013 10:42am | Edited 10:56am
Quoting Purec
{quote} Read post 2183 before talking ok ?!
There is nothing valuable in that post. Typical newbie talk. Paper trading (i.e trading on demo account) IS NOT trading. Floating result IS NOT result.
If you backtest the EA for longer period then you see that it has made money only lately, but before it has been a loser.
The system is very good but needs a manual approach and logic of a good trader like any other system. In fact, almost any system can be profitable in right hands.
  • #2,195
  • Jul 6, 2013 10:47am Jul 6, 2013 10:47am
The argument for and against demo trading will continue, but until you have real money in play, you have no skin in the game, and little if any emotions, it is just a game.

The biggest mistake most traders make when going from demo to live, is to underestimate the emotions involved when real money is in play.

The urge to cut short a winning trade and not follow the trading plan because it is now real profit. The propensity to hold on to a losing trade once the signals have reversed, just in case it comes back.

Under capitalized, over leveraged and overtrading will all kill an account.

Having a robot in play does not really change too much, especially with all the tweaks and settings that can be manually futzed with.

Set your demo to match the amount of capital that you intend trading with. Determine how many and which pairs you will trade (it's all in this tread under 100Pips' posts) and then determine lot sizes and leverage and how many trades you will allow to have open on each pair before locking in profits / trailing, etc.

Document your trading plan, tweak it as your demo trades and builds data and then lock it down - this is your bible for trading live.

You have all seen the DrawDowns that this system will see, so if you are trading live with 6 pairs, each with 5 open positions at $20 (0.02 lots) per position at 100:1 leverage and they all pull back by 150 pips, how will that affect you. 6 X 5 X $20 X 1.5 = $900. Can you do that? Will it hurt if when at least half of them stop out at -160 pips or - 260 pips which are the SL settings that 100Pips uses? The robot won't help you, especially when the forex gods want to get paid.

So, trade your EA as if it was live. When you have enough data, go live, but unless you have a $100K++ account, don't even think of trading your demo account at 1 lot per position on all pairs with 8 positions open.

Happy pip hunting
"To live with Passion, it takes Courage and Grace to survive"
  • #2,196
  • Jul 6, 2013 10:52am Jul 6, 2013 10:52am
Quoting Britpip7
The argument for and against demo trading will continue, but until you have real money in play, you have no skin in the game, and little if any emotions, it is just a game. The biggest mistake most traders make when going from demo to live, is to underestimate the emotions involved when real money is in play. The urge to cut short a winning trade and not follow the trading plan because it is now real profit. The propensity to hold on to a losing trade once the signals have reversed, just in case it comes back. Under capitalized, over leveraged and...
I don't normally post on this thread but was reading and you took the words out my mouth
  • #2,197
  • Jul 6, 2013 10:55am Jul 6, 2013 10:55am
Quoting claudia1
{quote} I don't normally post on this thread but was reading and you took the words out my mouth
Hi Claudia - lots of folks on these threads that are starstruck with too many in their demo accounts and then wondering where it all went wrong went they go live.

After all, they backtested - the results were great
"To live with Passion, it takes Courage and Grace to survive"
  • #2,198
  • Jul 6, 2013 11:00am Jul 6, 2013 11:00am
Quoting Britpip7
{quote} Hi Claudia - lots of folks on these threads that are starstruck with too many in their demo accounts and then wondering where it all went wrong went they go live. After all, they backtested - the results were great
lol yes - I don't do backtesting its silly - demo accounts are silly only useful to learn the platform maybe. Get 50k in your account risk 2% max and if you can't making a living get a job! Simple really.
  • #2,199
  • Jul 6, 2013 11:04am Jul 6, 2013 11:04am
Quoting claudia1
{quote} lol yes - I don't do backtesting its silly - demo accounts are silly only useful to learn the platform maybe. Get 50k in your account risk 2% max and if you can't making a living get a job! Simple really.
  • #2,200
  • Jul 6, 2013 11:19am Jul 6, 2013 11:19am
Thought I'd break with tradition and show a chart on this thread - lots of downward pressure on cable with week MACD going negative - nice downward step pattern on H1

Waiting for a pullback for next entry short.
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"To live with Passion, it takes Courage and Grace to survive"
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