Third Screen Strategy - Dr. Alexander Elder | Page 115 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,281
  • Jul 9, 2013 9:27am Jul 9, 2013 9:27am
Hope you remember my GBP/USD live trade SELL...(no MACD on hourly,of course, only Williams)

The trade has moved south for a +70 pips...so far, so good.

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I am absolutely thrilled and delighted to have a method that is making so many pips, have a look at my trade explorer guys....i have never experienced anything like it.....what to do with all these pips is posing a problem...!!! Do i stick or fold..???

Good on 100pips, Khaled and all...
Onwards and upwards...
  • #2,282
  • Jul 9, 2013 9:32am Jul 9, 2013 9:32am
Have a look at ""TRADES'"" and see 3 of us in the top 9, this month...

Attached Image
Onwards and upwards...
  • #2,283
  • Jul 9, 2013 9:45am Jul 9, 2013 9:45am
Quoting soccerfan
Have a look at ""TRADES'"" and see 3 of us in the top 9, this month... {image}
Hip hip hurray

BTW . I've closed my /JPY pairs and EUR/USD and GBP/USD manually . Still keeping E/A E/N and G/A G/N for some more pips .

And that's all for me in demo . This week I will cool off and next week , Monday I will start live .

Good luck guys . Keep up the good work .
Make choices and don't look back !
  • #2,284
  • Jul 9, 2013 9:46am Jul 9, 2013 9:46am
Quoting soccerfan
Hope you remember my GBP/USD live trade SELL...(no MACD on hourly,of course, only Williams)
Hi

Is there any reason why you couldn't put the Williams R on the hourly and also the MACD if you multiply the values by 24? For example you'd use MACD(288,624,216) to give you a daily MACD(12, 26, 9) on your hourly chart.

This is my first post and I hope it's not too embarrassing.

Thanks
Paul
  • #2,285
  • Jul 9, 2013 9:48am Jul 9, 2013 9:48am
Hi 100pipsAday,
Can you tell me why the EA took the trade on EJ?
Does the EA look at the Weekly Trend?

Thx.

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Keep learning while you are alive!
  • #2,286
  • Jul 9, 2013 9:59am Jul 9, 2013 9:59am
Quoting Olarion1975
{quote} I think it's even worse...if you have a TP of 50 pips and a SL of 260 pips the resulting Risk / Reward Ratio is about 1 : 0.19. So in fact he is risking $1 to make $0.19 !!

Hi,

Not too sure what you meant.... but from what I know.... this is a retracement strategy.... it can be used as mid, long term or short term. Since the EA will take position with delay of 6 hours, it will re-open new positions every 6 hours once it's at over-sold or over-bought depending of the daily chart direction. For long term, you may have to wait for multiple up and down to get to TP, in between there are multiple retracements. MY demo1 and 2 are actually to catch such retracements. I use the Resistance/Support level as guide on when to TP. Since this is ONLY a test, I am experimenting if this can work. I also watched out for daily chart for reversal of trend

Holding long term can work well, but short term TP may work well too, all depends on what you wanna achieve.

That's just my thought

It's a gem I have discovered. I am merely adding my own flavours to it
  • #2,287
  • Jul 9, 2013 10:01am Jul 9, 2013 10:01am
Quoting soccerfan
Have a look at ""TRADES'"" and see 3 of us in the top 9, this month... {image}

Congrats for top 3
  • #2,288
  • Jul 9, 2013 1:26pm Jul 9, 2013 1:26pm
can i point out that its actually top 4 if you count Neio's TSS-TCO demo which is the TCO EA implementation of the third screen strategy
  • #2,289
  • Jul 9, 2013 1:30pm Jul 9, 2013 1:30pm
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting blamshakk
can i point out that its actually top 4 if you count TSS-TCO which is the TCO EA implementation of the third screen strategy
I agree. I am using TSS with the TCO version EA.
An expert is a man who has made all the mistakes which can be made
  • #2,290
  • Jul 9, 2013 1:40pm Jul 9, 2013 1:40pm
Quoting Neio
{quote} I agree. I am using TSS with the TCO version EA.

Hi Neio, nice results. I was wondering what settings you are using. Thanks!
  • #2,291
  • Jul 9, 2013 1:41pm Jul 9, 2013 1:41pm
  •  Neio
  • Joined Oct 2012 | Status: Can't think outside?Enlarge the box | 688 Posts
Quoting TallCoolOne
{quote} Hi Neio, nice results. I was wondering what settings you are using. Thanks!
Hi TCO,

I will reply to you in your thread.

Regards

Neio
An expert is a man who has made all the mistakes which can be made
  • #2,292
  • Jul 9, 2013 1:49pm Jul 9, 2013 1:49pm
Quoting Neio
{quote} I agree. I am using TSS with the TCO version EA.
I am live with this strat and I carnt thank 100 pips and Khaled enough many ,many thanks......loving it.This thing eats pips
  • #2,293
  • Jul 9, 2013 2:07pm Jul 9, 2013 2:07pm
Quoting rcsltd
{quote} Hi Is there any reason why you couldn't put the Williams R on the hourly and also the MACD if you multiply the values by 24? For example you'd use MACD(288,624,216) to give you a daily MACD(12, 26, 9) on your hourly chart.
Very good point.
I am using MACD(288,576,216) on my hourly chart. And I have a very strong reason for that: MACD on daily chart cannot be trusted because my broker has a Sunday candle (consisting of 2 hours only) that messes data up.
  • #2,294
  • Jul 9, 2013 2:12pm Jul 9, 2013 2:12pm
Quoting Stompe
Hi 100 pips This is the second post I have asked for the update on the live 5k test. You dont seem to be interested in posting results updates very regular , you only seem bothered on the demos. It would be a good idea to attach the live 5k test to explorer so we can monitor what is really going on live. give us a chance to see actual proof and what to expect. size open position etc.
Stompe,

I am not updating the Live account here because I have had 3 people in the past 2 weeks alone ask me for personal loans so that they can trade their accounts and then pay me back when they're in profit.

So from now on I dont' want to be discussing my personal financial situation for everybody to see as it seems the more somebody has the more people want from them.

If you need to see a small $5k account to see what is "really going on" as you put it then you have no business trading this strategy. This is not some scalping strategy that only works on demo accounts due to no liquidity issues or spread differences between different brokers.

The only thing that will affect a trader's results between Live and Demo is their own psychology! You either can or you can't trade real money, simple as that!

This strategy works and everybody here has enough proof to decide whether or not they want to utilize it. I have given recommended pairs to trade, SL & TP parameters, as well as Money Management just a few posts above this one. If you don't know what to do from here then I'm sorry but I don't know what to say...
  • #2,295
  • Jul 9, 2013 2:22pm Jul 9, 2013 2:22pm
Quoting soccerfan
Hope you remember my GBP/USD live trade SELL...(no MACD on hourly,of course, only Williams) The trade has moved south for a +70 pips...so far, so good. {image} I am absolutely thrilled and delighted to have a method that is making so many pips, have a look at my trade explorer guys....i have never experienced anything like it.....what to do with all these pips is posing a problem...!!! Do i stick or fold..??? Good on 100pips, Khaled and all...
Believe it or not having too much money is actually a real problem that some people have! I hope that many of you here end up with that same type of problem in the very near future

Keep up the good work SoccerFan!
  • #2,296
  • Jul 9, 2013 2:23pm Jul 9, 2013 2:23pm
Quoting soccerfan
Have a look at ""TRADES'"" and see 3 of us in the top 9, this month... {image}


Men Lie, Women Lie, Numbers Don't!
  • #2,297
  • Jul 9, 2013 2:25pm Jul 9, 2013 2:25pm
Quoting Purec
{quote} Hip hip hurray BTW . I've closed my /JPY pairs and EUR/USD and GBP/USD manually . Still keeping E/A E/N and G/A G/N for some more pips . And that's all for me in demo . This week I will cool off and next week , Monday I will start live . Good luck guys . Keep up the good work .
In response to your private message because text was too long to message. Hope you don't mind me posting it here...

If you are set on trading 10 pairs with this system and are looking to adjust SL & TP parameters to a 1:2 risk/reward ratio then I would trade the following 10 with SL & TP parameters.

10 Recommended Pairs

AUD/JPY
SL: 175
TP: 350

AUD/USD
SL: 175
TP: 350

EUR/AUD
SL: 200
TP: 400

EUR/CAD
SL: 175
TP: 350

EUR/JPY
SL: 200
TP: 400

GBP/AUD
SL: 225
TP: 450

GBP/NZD
SL: 275
TP: 550

NZD/JPY
SL: 175
TP: 350

NZD/USD
SL: 175
TP: 350

USD/JPY
SL: 175
TP: 350

Hope this helps!

Kind Regards,
100PipsADay
  • #2,298
  • Jul 9, 2013 2:30pm Jul 9, 2013 2:30pm
Quoting blamshakk
can i point out that its actually top 4 if you count Neio's TSS-TCO demo which is the TCO EA implementation of the third screen strategy
  • #2,299
  • Jul 9, 2013 2:30pm Jul 9, 2013 2:30pm
Quoting Tedge UK
{quote} I am live with this strat and I carnt thank 100 pips and Khaled enough many ,many thanks......loving it.This thing eats pips
You are very welcome! I'm glad you are making money with this strategy.
  • #2,300
  • Jul 9, 2013 2:32pm Jul 9, 2013 2:32pm
Quoting exiao
Hi 100pipsAday, Can you tell me why the EA took the trade on EJ? Does the EA look at the Weekly Trend? Thx. {image}
EUR/JPY

D1 MACD - Uptrend

H1 Williams % - Over Sold

This means that BUY positions will be opened up.
Attached Image(s) (click to enlarge)
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