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Third Screen Strategy - Dr. Alexander Elder

  • #2,441
  • Jul 16, 2013 10:34am Jul 16, 2013 10:34am
Quoting Olarion1975
{quote} Not quite. I disabled the EA on some selected pairs and entered manually to get a better entry point. On some pairs, I added some positions manually later on. On other pairs, I disabled the EA for a certain time when price was ranging. Futhermore I have up to 16 open positions on several pairs, depending on the strength of the trend. In fact, I would never use the EA without manual intervention! I permanently watch the charts and decide which pairs range, which trend, where are s/r zones etc. on the daily and weekly timeframe. I also look...
thank you Olarion1975, instead I have quite all pairs disabled, current only 19 open trades, after the PA of the last days I got doubts enabling the ea again....
so I kept it disabled on most pairs....
  • #2,442
  • Jul 16, 2013 1:28pm Jul 16, 2013 1:28pm
Quoting acosma
quiet thread ... no money, no more party ;-)
I think the trade explorers speak for themselves... Just because there is no party doesn't mean there is no money
  • #2,443
  • Jul 16, 2013 1:30pm Jul 16, 2013 1:30pm
Quoting Olarion1975
{quote} I still make money with the 3SS. Floating profit of +7,000 Pips...turned around from a drawdown of -6,000 Pips.
Sounds about right for me as well. Those who let their emotions get the best of them this past week probably learned a very hard lesson.

Some people try to "outsmart" the market and make things more complicated then it really is, those are the ones who will not succeed.
  • #2,444
  • Jul 16, 2013 1:32pm Jul 16, 2013 1:32pm
Quoting acosma
{quote} thank you Olarion1975, instead I have quite all pairs disabled, current only 19 open trades, after the PA of the last days I got doubts enabling the ea again.... so I kept it disabled on most pairs....
Like I said before, I like when price moves against me as this is the ONLY way we are able to build new positions. If price always moves in our favor how would we ever be able to buy/sell on the retrace?

However, I do think it is best to "stay out when in doubt" so hats off to you for not trading just to trade.
  • #2,445
  • Jul 16, 2013 1:34pm Jul 16, 2013 1:34pm
Quoting 100PipsADay
{quote} Sounds about right for me as well. Those who let their emotions get the best of them this past week probably learned a very hard lesson. Some people try to "outsmart" the market and make things more complicated then it really is, those are the ones who will not succeed.
that is right. just do it that is the game.
  • #2,446
  • Jul 16, 2013 1:39pm Jul 16, 2013 1:39pm
Quoting 100PipsADay
{quote} Like I said before, I like when price moves against me as this is the ONLY way we are able to build new positions. If price always moves in our favor how would we ever be able to buy/sell on the retrace? However, I do think it is best to "stay out when in doubt" so hats off to you for not trading just to trade.
yes "stay out when in doubt" especially after many SL Hits ... my account is about 2% down... but I don't care cuz it's a micro account .... so minimal loss
  • #2,447
  • Jul 16, 2013 1:44pm Jul 16, 2013 1:44pm
Quoting acosma
{quote} yes "stay out when in doubt" especially after many SL Hits ...
Do you mind sharing your trade explorer or was that directed to me?

If it was directed to me, you can already see that I am basically back to where I was BEFORE the major moves late last week so I have nothing to worry about...

My trade explorers are the epitome of a simple and lucrative system
  • #2,448
  • Jul 16, 2013 2:02pm Jul 16, 2013 2:02pm
Quoting 100PipsADay
{quote} Do you mind sharing your trade explorer or was that directed to me? If it was directed to me, you can already see that I am basically back to where I was BEFORE the major moves late last week so I have nothing to worry about... My trade explorers are the epitome of a simple and lucrative system
I added trade explorer, now you see it...
delay hours = 12
tp/sl 350/250 for all pairs

the first trades on may and june were not from 3SS
  • #2,449
  • Jul 16, 2013 3:24pm Jul 16, 2013 3:24pm
Quoting acosma
{quote} I added trade explorer, now you see it... delay hours = 12 tp/sl 350/250 for all pairs the first trades on may and june were not from 3SS
Acosma,

Thank you for sharing your Trade Explorer and after taking a quick look through your closed trades it is clear to see where you have been going wrong and if you keep doing what you're doing you will not be profitable with this strategy.

You say that you are using a 250 SL & 350 TP for ALL pairs yet you do not let your winners run and you take profit early. However, when it comes to the losing trades you let them hit your 250 SL.

You are averaging maybe 50 pips profit for each winning trade but each losing trade is 250 pips! That is 5:1 risk/reward ratio meaning you risk $5 for every $1 you plan to gain...

Consider less intervention if possible and try to let your winners run.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Closed_#1.png Size: 156 KB
Click to Enlarge Name: Closed_#2.png Size: 153 KB
Click to Enlarge Name: Closed_#3.png Size: 84 KB
  • #2,450
  • Jul 16, 2013 3:38pm Jul 16, 2013 3:38pm
Quoting 100PipsADay
{quote} Acosma, Thank you for sharing your Trade Explorer and after taking a quick look through your closed trades it is clear to see where you have been going wrong and if you keep doing what you're doing you will not be profitable with this strategy. You say that you are using a 250 SL & 350 TP for ALL pairs yet you do not let your winners run and you take profit early. However, when it comes to the losing trades you let them hit your 250 SL. You are averaging maybe 50 pips profit for each winning trade but each losing trade is 250 pips! That...
Exactly, that's the key! I couldn't agree more with that statement.

Even though I manually intervene myself this does not mean I change the SL and TP on the trades or close trades early when they are in profit. Never.
I may enter manually sometimes, but always let them either hit TP or SL.

My risk/reward ratio is ALWAYS 1:2!
  • #2,451
  • Jul 16, 2013 3:42pm Jul 16, 2013 3:42pm
Quoting 100PipsADay
{quote} Acosma, Thank you for sharing your Trade Explorer and after taking a quick look through your closed trades it is clear to see where you have been going wrong and if you keep doing what you're doing you will not be profitable with this strategy. You say that you are using a 250 SL & 350 TP for ALL pairs yet you do not let your winners run and you take profit early. However, when it comes to the losing trades you let them hit your 250 SL. You are averaging maybe 50 pips profit for each winning trade but each losing trade is 250 pips! That...
Interesting comment I have been guilty of this as well I notice that my demo accounts are climbing their way back up but have NOT opened a trade this week These account I have left run right through with intervention

MY Live account weary of retracements I have closed early but some of my losing trades I have held on waiting for the retracements
I do Good I feel GoodI do Bad I feel Bad
  • #2,452
  • Jul 16, 2013 11:17pm Jul 16, 2013 11:17pm
Quoting 100PipsADay
{quote} Acosma, Thank you for sharing your Trade Explorer and after taking a quick look through your closed trades it is clear to see where you have been going wrong and if you keep doing what you're doing you will not be profitable with this strategy. You say that you are using a 250 SL & 350 TP for ALL pairs yet you do not let your winners run and you take profit early. However, when it comes to the losing trades you let them hit your 250 SL. You are averaging maybe 50 pips profit for each winning trade but each losing trade is 250 pips! That...
thank you 100pipsaday for your recommendations, I had a positive and good performance on my previous demo test with 20&50 on june month I made about 11000 pips in one month then I decided to go live but with 3SS because I felt 3SS more responsive and dynamic and it already was signaling reverse signals among pairs (20&50 was stalled and it requires very big patience that maybe I don't have). But evidently also the period that I went live does not help me, bad and difficult period than easy june trend period.
Thank you again I will try to follow your reccomendations.
  • #2,453
  • Jul 16, 2013 11:24pm Jul 16, 2013 11:24pm
Quoting acosma
{quote} thank you 100pipsaday for your recommendations, I had a positive and good performance on my previous demo test with 20&50 on june month I made about 11000 pips in one month then I decided to go live but with 3SS because I felt 3SS more responsive and dynamic and it already was signaling reverse signals among pairs (20&50 was stalled and it requires very big patience that maybe I don't have). But evidently also the period that I went live does not help me, bad and difficult period than easy june trend period. Thank you again I will...

This is also the biggest reason why I prefer the 3SS over the 20 & 50 as well.

One thing I also noticed (which is a very good thing) is that you do not over leverage yourself! This means that your account will stay alive through the good and the bad times.

Right now we are kind of stuck in a period of "consolidation" but hopefully soon we will break out into our anticipated direction for most pairs. Keep up the good work and remember, let the winners run!
  • #2,454
  • Jul 16, 2013 11:47pm Jul 16, 2013 11:47pm
Quoting 100PipsADay
{quote} This is also the biggest reason why I prefer the 3SS over the 20 & 50 as well. One thing I also noticed (which is a very good thing) is that you do not over leverage yourself! This means that your account will stay alive through the good and the bad times. Right now we are kind of stuck in a period of "consolidation" but hopefully soon we will break out into our anticipated direction for most pairs. Keep up the good work and remember, let the winners run!
Ok now for new trades I modified the SL,TP instead of fixed 350/250 I'm setting the ones specified on the reccommended sl&tp of the demo2 of the thread,
do you think shall I also change delayhours from 12 to 6 ? 12 is supposed to be more conservative only or there are others advantages/disadvantages ?
  • #2,455
  • Jul 17, 2013 2:02am Jul 17, 2013 2:02am
Quoting acosma
{quote} Ok now for new trades I modified the SL,TP instead of fixed 350/250 I'm setting the ones specified on the reccommended sl&tp of the demo2 of the thread, do you think shall I also change delayhours from 12 to 6 ? 12 is supposed to be more conservative only or there are others advantages/disadvantages ?
I think the recommended SL & TP parameters for the Demo #2 are a better idea and I personally like the 6 Hour Delay more than 12 but that is just my personal preference.

12 will be a little more conservative than 6...
  • #2,456
  • Jul 17, 2013 2:19am Jul 17, 2013 2:19am
Quoting 100PipsADay
{quote} I think the recommended SL & TP parameters for the Demo #2 are a better idea and I personally like the 6 Hour Delay more than 12 but that is just my personal preference. 12 will be a little more conservative than 6...
Ok, thank you.
  • #2,457
  • Jul 17, 2013 8:36am Jul 17, 2013 8:36am
...everything looks fine...11,000+ pips floating profit right now...
  • #2,458
  • Jul 17, 2013 8:41am Jul 17, 2013 8:41am
Quoting Olarion1975
...everything looks fine...11,000+ pips floating profit right now...
That would make me on my live account around 1 million GBP. I suspect you mean 1100 pips with a fifth digit broker.
  • #2,459
  • Jul 17, 2013 8:53am Jul 17, 2013 8:53am
Quoting claudia1
{quote} That would make me on my live account around 1 million GBP. I suspect you mean 1100 pips with a fifth digit broker.
No, it's really 11,000 pips on a 5 digit broker. But my lot size is not 10 lots but below 1 lot.
Keep in mind that I have > 150 open positions on 20 pairs...
  • #2,460
  • Jul 17, 2013 8:56am Jul 17, 2013 8:56am
Quoting Olarion1975
{quote} No, it's really 11,000 pips on a 5 digit broker. But my lot size is not 10 lots but below 1 lot. Keep in mind that I have > 150 open positions on 20 pairs...
Pleased it's working pips and khaled put a lot of work in. Now try trading 150 opens on a live account. I have and its scary. Edit: on micro lots by the way!
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