Third Screen Strategy - Dr. Alexander Elder | Page 119 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,361
  • Jul 10, 2013 1:34pm Jul 10, 2013 1:34pm
Quoting 100PipsADay
{quote} Hi MKFX, I know this question was directed to Claudia but my personal recommendation is to trade at least 4 pairs and no more than 10 at any given time. Obviously this will depend on risk tolerance, account balance, leverage, and your overall financial goals.

  • #2,362
  • Jul 10, 2013 1:35pm Jul 10, 2013 1:35pm
Quoting claudia1
{quote} Check out cable on the hour that is going heavy south.
I agree. I'm short.
  • #2,363
  • Jul 10, 2013 1:49pm Jul 10, 2013 1:49pm
Quoting MKFXTrader
{quote} I agree. I'm short.
lol the things flying up should keep quiet!
  • #2,364
  • Jul 10, 2013 1:51pm Jul 10, 2013 1:51pm
Hi 100PipsADay,
Have closed all my trades earlier with 20% profit.
Short again for GBPAUD, EURAUD,GBPNZD,EURNZD, EURUSD and GBPUSD few minutes ago. Not feel comfort with JPY pairs right now.
But now confused.
KISS - Keep It Simple Smart !!!!
  • #2,365
  • Jul 10, 2013 1:55pm Jul 10, 2013 1:55pm
Quoting claudia1
{quote} lol the things flying up should keep quiet!
Bernanke opening his mouth.
  • #2,366
  • Jul 10, 2013 3:22pm Jul 10, 2013 3:22pm
Quoting MKFXTrader
{quote} Bernanke opening his mouth.
Holy drawdown Batman haha. I decided to give the EA a swing on a demo account for some fun. This morning was up 90 pips on cable and now down 90 pips.

CAD/JPY not doing so bad. I haven't a trade on my live account in a while. I would like to be able to have a bit more capital first. My problem was only having enough to go in on 1-2 pairs. I think I would feel a bit more comfortable being able to open trades on a full "basket"

Good to see quite a few people doing good as well. I am getting there
  • #2,367
  • Jul 10, 2013 3:22pm Jul 10, 2013 3:22pm
Quoting khaled_ctg
Hi 100PipsADay, Have closed all my trades earlier with 20% profit. Short again for GBPAUD, EURAUD,GBPNZD,EURNZD, EURUSD and GBPUSD few minutes ago. Not feel comfort with JPY pairs right now. But now confused.
20% profit is an excellent gain!

USD/JPY just made its way back down to the 20 EMA and is also very close to the 50 EMA. I expect a nice bounce up from here and possibly a continuation of the recent uptrend.

As always, only time will tell but I'm still holding USD/JPY LONGS as well as the JPY cross pairs LONG positions.

If you're not comfortable holding any JPY positions then best to stay out. Like that saying goes when surfing "When in doubt, stay out!"
  • #2,368
  • Edited 6:20pm Jul 10, 2013 6:00pm | Edited 6:20pm
Volatility is what traders love

Be Careful what you ask for

PIPS to be made here
I do Good I feel GoodI do Bad I feel Bad
  • #2,369
  • Jul 11, 2013 1:32am Jul 11, 2013 1:32am
I had some big losses yesterday, 8 sl in a row hit. 30% of my account gone. sl hit on gbp/usd, eur/usd, gbp/aud, aud/jpy, usd/jpy. How can I prevent this? All my profits of the last two weeks gone. How do you guys handle this?
  • #2,370
  • Jul 11, 2013 1:52am Jul 11, 2013 1:52am
Quoting jasper2603
I had some big losses yesterday, 8 sl in a row hit. 30% of my account gone. sl hit on gbp/usd, eur/usd, gbp/aud, aud/jpy, usd/jpy. How can I prevent this? All my profits of the last two weeks gone. How do you guys handle this?
Hi JASPER, I know how you feel mate..!!

My 5k account had gone down to 3k a couple of weeks ago, then up to 7k +....now it is at 5,300...!!!

How do we handle it.?? small lots and not too many pairs/trades at one time, keeping it demo, and praying too..!!

I hope things get better, we have to expect ups and downs... i just need to keep focused and be patient I guess..Cheers S
Onwards and upwards...
  • #2,371
  • Jul 11, 2013 1:58am Jul 11, 2013 1:58am
UPDATE ON MY GBP/USD... it went to -225 , now it is at -175, the EA has opened another GBP/USD sell and is now + 50 ish,

Attached Image (click to enlarge)
Click to Enlarge Name: july 11 1.png Size: 271 KB


Cheers S
Onwards and upwards...
  • #2,372
  • Jul 11, 2013 2:15am Jul 11, 2013 2:15am
Yesterday i went aswell from +12.5% to -6.5% balance on demo, it's the second time on FOMC that the MACD gets dragged through the shit and destroying my account. I'm thinking to skip FOMC days in the future with MACD, since the normal days are fine. This is also because i use the option from TCO to close all trades at +3%, so there's more to lose than to gain on these particular days for me. (I use this because i don't have the option to open 30 trades on my live account, plus i don't want to be in a trade for weeks)
  • #2,373
  • Jul 11, 2013 2:19am Jul 11, 2013 2:19am
soccerfan, That are serious drawdowns you had. Lucky for you on demo, for me its a live account..

I let my current trades run to tp and sl. And then start with the four recommended pairs and a smaller lotsize and hope I can build my account up again. my current trades are in drawdown, I hope the trend will resume quick.
  • #2,374
  • Jul 11, 2013 3:15am Jul 11, 2013 3:15am
Quoting 100PipsADay
{quote} 20% profit is an excellent gain! USD/JPY just made its way back down to the 20 EMA and is also very close to the 50 EMA. I expect a nice bounce up from here and possibly a continuation of the recent uptrend. As always, only time will tell but I'm still holding USD/JPY LONGS as well as the JPY cross pairs LONG positions. If you're not comfortable holding any JPY positions then best to stay out. Like that saying goes when surfing "When in doubt, stay out!"
But the profit is now at risk
Already GBPUSD, EURUSD, EURAUD closed with SL. GBPAUD,GBPNZD,EURNZD is on the way to hit SL
KISS - Keep It Simple Smart !!!!
  • #2,375
  • Jul 11, 2013 3:39am Jul 11, 2013 3:39am
People, once more, DO NOT trade this system mechanically. It is a winner if handled with discretion and logic.
It is not possible to make living from trading if your account is one day +30% and another day -30%. You need stable and permanent positive cash flow.
First thing to look - if daily MACD is rising or falling. It is not enough to look only at its color.
  • #2,376
  • Jul 11, 2013 3:51am Jul 11, 2013 3:51am
well, i had great success yesterday. made 150 pips in total on gu and 100 pips on gj. manage to recover the 200 odd pips i lost last week !

the beauty of this strategy is that even if you get losses there is always an oppurtunity to recover it back quickly, whereas with other strategies there is no sureity in recovering losses.

i see the following trades for now:

usdchf- long

usd jpy - long

gbp jpy - long once williams 1hr is oversold.

audjpy - long



please post your thoughts.
  • #2,377
  • Jul 11, 2013 3:54am Jul 11, 2013 3:54am
Quoting whatfx
well, i had great success yesterday. made 150 pips in total on gu and 100 pips on gj. manage to recover the 200 odd pips i lost last week ! the beauty of this strategy is that even if you get losses there is always an oppurtunity to recover it back quickly, whereas with other strategies there is no sureity in recovering losses. i see the following trades for now: usdchf- long usd jpy - long gbp jpy - long once williams 1hr is oversold. audjpy - long please post your thoughts.
75% of your trading is relying on yen pairs. Risky to me but good luck.
  • #2,378
  • Jul 11, 2013 3:55am Jul 11, 2013 3:55am
Quoting Indrek
People, once more, DO NOT trade this system mechanically. It is a winner if handled with discretion and logic. It is not possible to make living from trading if your account is one day +30% and another day -30%. You need stable and permanent positive cash flow. First thing to look - if daily MACD is rising or falling. It is not enough to look only at its color.
Very good post.
  • #2,379
  • Jul 11, 2013 4:33am Jul 11, 2013 4:33am
Thanks again to 100pips and all contributors to this thread. A KISS method that works. While providing a mechanical method to identify trades, it also requires the the use of the holy grail developing between my ears. I am really enjoying this. I came across this trade on the USDJPY and am stumped as to why the EA took the short trade. Perhaps the EA know that Bernanke was about to speak.....

A Short trade while MACD was positive, although declining. Please take a look and see if you can see something I am missing. I use the MTF WPR to display the 60 minute WPR on the daily chart for visual reference.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY Daily.JPG Size: 148 KB
  • #2,380
  • Jul 11, 2013 4:43am Jul 11, 2013 4:43am
100 pips

have you tried this strategy on the DAILY DOW (WALL STREET DAILY) ? if so what were your findings ?

if not, in your opinion what would you recommend the stop and take profit levels should be ? considering that on average the dow moves are greater than most other instruments.


iam looking to go short on the dow with immediate affect, but the third screen charts are not agreeing. at the moment.
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