Third Screen Strategy - Dr. Alexander Elder | Page 113 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,241
  • Jul 8, 2013 9:49pm Jul 8, 2013 9:49pm
AUD/USD
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  • #2,242
  • Jul 8, 2013 9:49pm Jul 8, 2013 9:49pm
CAD/JPY
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  • #2,243
  • Jul 8, 2013 9:50pm Jul 8, 2013 9:50pm
EUR/AUD
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  • #2,244
  • Jul 8, 2013 9:51pm Jul 8, 2013 9:51pm
GBP/AUD
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  • #2,245
  • Jul 8, 2013 9:51pm Jul 8, 2013 9:51pm
NZD/JPY
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  • #2,246
  • Jul 8, 2013 9:52pm Jul 8, 2013 9:52pm
NZD/USD
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  • #2,247
  • Jul 8, 2013 9:53pm Jul 8, 2013 9:53pm
USD/JPY
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  • #2,248
  • Jul 8, 2013 9:55pm Jul 8, 2013 9:55pm
57,239 Total Pips from the 8 pairs back tested and not one pair was negative in terms of pips.

Not bad...
  • #2,249
  • Jul 8, 2013 11:28pm Jul 8, 2013 11:28pm
Thank you so much 100pips ,and to khaled for your great work ,
I would really want this ea to be able to open positions long and short at the same time (aka hedging)
as i think that it would give better results on auto pilot ,because right now it will not open opposite positions until all the sl are hit...
what do you say?
  • #2,250
  • Jul 9, 2013 12:05am Jul 9, 2013 12:05am
Quoting samblue
Thank you so much 100pips ,and to khaled for your great work , I would really want this ea to be able to open positions long and short at the same time (aka hedging) as i think that it would give better results on auto pilot ,because right now it will not open opposite positions until all the sl are hit... what do you say?
What???

Maybe you should do some forward testing with your "thoughts" and try it first before jumping to any conclusions!
  • #2,251
  • Jul 9, 2013 12:15am Jul 9, 2013 12:15am
Quoting 100PipsADay
{quote} What??? Maybe you should do some forward testing with your "thoughts" and try it first before jumping to any conclusions!
forward testing I do different ,i dont open more positions every time a pt is hit ,I might wait until all 8 positions hit pt and evaluate to go long or short, I was only talking about the ea on auto pilot as it opens more positions ....
  • #2,252
  • Jul 9, 2013 12:23am Jul 9, 2013 12:23am
Quoting Erebus
{quote} When I see 1 hour charts with the MACD showing, I am reminded of this famous sport quote Frank Layden, on a former player: “I told him, Son, what is it with you: Is it ignorance or apathy....”
or merely an oversight?? sorry Guys, I have posted an HOURLY chart with a MACD showing...!!!!

This is a good time to say thanks for posting charts but please remember to show a DAILY with a MACD only.....(no williams..)

and post an HOURLY with a WILLIAMS%R....(no MACD ) This will help to avoid confusion, thanks

Happy trading to all...cheers. S

( Note to EREBUS, this was a polite request to others with no reference to ignorance, apathy, no large BOLD words, no screaming in ya face...!!! It can be done.)

Onwards and upwards...
  • #2,253
  • Edited 12:55am Jul 9, 2013 12:44am | Edited 12:55am
Quoting 100PipsADay
57,239 Total Pips from the 8 pairs back tested and not one pair was negative in terms of pips. Not bad...
I am afraid that adding pips pair by pair is saying nothing about the real result because all pairs have shown quite remarkable drawdown. And possibly the DD periods of different pairs match.

I am absolutely sure that the system works only upon human discretion. New trades should be opened soon after MACD has changed color and never if price has moved for hundreds of pips after the change. Also it is important if MACD bars are increasing or decreasing, even if the color is right.
Take, for example EURUSD. It has fallen sth like 400 pips since MACD changed color. Not sure if taking new short trades is wise now even if MACD is still red.
  • #2,254
  • Jul 9, 2013 12:55am Jul 9, 2013 12:55am
Quoting Indrek
{quote} I am afraid that adding pips pair by pair is saying nothing about the real result because all pairs have shown quite remarkable drawdown. And possibly the DD periods of different pairs match. I am absolutely sure that the system works only upon human discretion. New trades should be opened soon after MACD has changed color and never if price has moved for hundreds of pips after the change. Also it is important if MACD bars are increasing or decreasing, even if the color is right.
Well that's not entirely true due to the fact that most people trade multiple pairs (basket) at the same time. Therefore, when some were losing others were winning...

If somebody started trading all 8 pairs at the same time and adjusted lot sizing accordingly to their balance then it wouldn't have made a difference would it?

Either way, one only needs to look at my two Demo accounts of "forward testing" to see if this system is profitable or not when trading multiple pairs. Like I said, some don't like back testing and others do. I did it for those who do...
  • #2,255
  • Jul 9, 2013 12:58am Jul 9, 2013 12:58am
Quoting 100PipsADay
{quote} Well that's not entirely true due to the fact that most people trade multiple pairs (basket) at the same time. Therefore, when some were losing others were winning... If somebody started trading all 8 pairs at the same time and adjusted lot sizing accordingly to their balance then it wouldn't have made a difference would it? Either way, one only needs to look at my two Demo accounts of "forward testing" to see if this system is profitable or not when trading multiple pairs. Like I said, some don't like back testing and others do. I did...
What is your formula of calculating the lot size? I think, it is the most difficult part for many people when trading so many pairs and positions at a time.
  • #2,256
  • Jul 9, 2013 1:06am Jul 9, 2013 1:06am
Quoting Indrek
{quote} What is your formula of calculating the lot size? I think, it is the most difficult part for many people when trading so many pairs and positions at a time.
It all depends on stop loss, pairs, and total open positions. However, a good rule of thumb to me is 1.6 standard lots for every $5k using this strategy. This may be a little too much for some and may be too little for others. I would consider this a "moderate" or even slightly aggressive amount of leverage.

Conservative: 1 Standard Lot for every $10k
Moderate: 1 Standard Lot for every $5k
Aggressive: 2 Standard Lots for every $5k

As for the formula I have none, it is based purely off of 2 years worth of trading this strategy with multiple pairs.
  • #2,257
  • Jul 9, 2013 1:28am Jul 9, 2013 1:28am
Hello Everybody,
My apologies to all for a little bug in the code I have just been notified.
It has been fixed. Lets see how it works for us.

Kind regards,
Khaled
Attached File(s)
File Type: ex4 Third Screen Strategy - D1 MACD.ex4   19 KB | 437 downloads
File Type: ex4 MACD3SS.ex4   3 KB | 379 downloads
KISS - Keep It Simple Smart !!!!
  • #2,258
  • Jul 9, 2013 1:38am Jul 9, 2013 1:38am
Quoting 100PipsADay
{quote} It all depends on stop loss, pairs, and total open positions. However, a good rule of thumb to me is 1.6 standard lots for every $5k using this strategy. This may be a little too much for some and may be too little for others. I would consider this a "moderate" or even slightly aggressive amount of leverage. Conservative: 1 Standard Lot for every $10k Moderate: 1 Standard Lot for every $5k Aggressive: 2 Standard Lots for every $5k As for the formula I have none, it is based purely off of 2 years worth of trading this strategy with multiple...
Thanks. This is also a good reason why the system needs permanent human involvement instead of just letting the robot run. Money management!
  • #2,259
  • Jul 9, 2013 1:39am Jul 9, 2013 1:39am
Quoting 100PipsADay
{quote} It all depends on stop loss, pairs, and total open positions. However, a good rule of thumb to me is 1.6 standard lots for every $5k using this strategy. This may be a little too much for some and may be too little for others. I would consider this a "moderate" or even slightly aggressive amount of leverage. Conservative: 1 Standard Lot for every $10k Moderate: 1 Standard Lot for every $5k Aggressive: 2 Standard Lots for every $5k As for the formula I have none, it is based purely off of 2 years worth of trading this strategy with multiple...
100PipsADay, do you mean 1 standard lot as 10$ per pip or 1$ per pip?

On my live account I trade 20 pairs with 8 open positions each for 0.1 Standard Lot (1 $ per pip) per 20.000$...

I experienced a drawdown of -5,000 pips...so with 1 standard lot this would mean -50,000$....
  • #2,260
  • Jul 9, 2013 1:48am Jul 9, 2013 1:48am
Quoting Olarion1975
{quote} 100PipsADay, do you mean 1 standard lot as 10$ per pip or 1$ per pip? On my live account I trade 20 pairs with 8 open positions each for 0.1 Standard Lot (1 $ per pip) per 20.000$... I experienced a drawdown of -5,000 pips...so with 1 standard lot this would mean -50,000$....
1 Standard Lot = $10 per Pip

What I mean is a total of 1.6 Standard Lots open at any given time on a $5k account. Not per position...
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