Third Screen Strategy - Dr. Alexander Elder | Page 125 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,481
  • Jul 18, 2013 11:52am Jul 18, 2013 11:52am
Hello, everyone. I got hit pretty bad last week (still alive though) on my account but I still believe in the 3SS strategy and keep going with it. Thanks!
I love forex. One day it will love me back.
  • #2,482
  • Jul 18, 2013 11:53am Jul 18, 2013 11:53am
Quoting 100PipsADay
Important Point about the Third Screen Strategy: We open multiple positions for each pair in order to get better entry points if price moves against us for a certain period of time. We are trading off of the Daily charts so entry points do not need to be exact as they would be if somebody was trading off of the M5 or M15 charts. Also, when price moves in our favor by let's say 150 pips or so and then we see a 50 pip retrace and then H1 is showing "over sold" we get another position (or multiple positions) opened up as price has moved in our favor....
I have long been an advocate of "pip farming" / "add-on" / "equity millipede" etc. strategies and this approach works exceedingly well, so long as you don't get freaked out by the draw downs. Do not overtrade based on your account size so limit the number of pairs / positions open in a live account. Take time to get used to how this all works in a live account - .01 or .02 lots per trade - after every 50 trades evaluate and fine tune your trading plan.

Opening 1 position may give you 350 pips, but this approach will often achieve 1,000 pips plus for such a move. PA and S/R levels still play a part in this approach, so unless you take the time to understand the general basics of forex, it could be a rough ride. If you are new to forex, go visit babypips.com and get some great free information.
"To live with Passion, it takes Courage and Grace to survive"
  • #2,483
  • Jul 18, 2013 12:03pm Jul 18, 2013 12:03pm
Quoting Singha83
Hello, everyone. I got hit pretty bad last week (still alive though) on my account but I still believe in the 3SS strategy and keep going with it. Thanks!

me too last week bad... but let's see ... I still got hopes on 3SS...
maybe one day 100pips will explain us the secret additional rules to make profit with 3SS ...
  • #2,484
  • Jul 18, 2013 7:00pm Jul 18, 2013 7:00pm
I know I'm tempting fate here but what the hell

But my account has just entered positive territory for the first time in about two weeks still down 17% for the week and about 39% for the month

Demos one is up 39% for the week as I had to take some positions to stop a margin call and my other one is 14% down for the month and 1.4% for the week

So maybe a change in the wind

There I said it
I do Good I feel GoodI do Bad I feel Bad
  • #2,485
  • Jul 18, 2013 10:11pm Jul 18, 2013 10:11pm
Hi can someone explain, I am using 2 brokers and have the same setup on both, one is showing the arrows up for buy and the other is showing the arrows down for sell ?
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Making money is easy,losing money is easier
  • #2,486
  • Jul 18, 2013 10:44pm Jul 18, 2013 10:44pm
Quoting Stompe
Hi can someone explain, I am using 2 brokers and have the same setup on both, one is showing the arrows up for buy and the other is showing the arrows down for sell ? {image} {image}

first thing is you appear to be using V1.1 on the second screen shot not sure what you are using on the other as you have a black background.

and you will get different signals from different brokers I have three going at the moment and all are up up and away so may have to download V1.3 and reset the EA

I also found if you have been playing around with different systems sometime when you delete things somethings get left on your charts
Go right click on your chart and go indicator list and make sure there is nothing there that should not be
what I did was strip my charts and started again seems to be working

Hope it helps others will have more info I'm sure
I do Good I feel GoodI do Bad I feel Bad
  • #2,487
  • Jul 18, 2013 10:52pm Jul 18, 2013 10:52pm
Thanks for trying to explain offshore , but I am using the same version on both charts and they are clean no indi is left as i have only used this strat
Making money is easy,losing money is easier
  • #2,488
  • Jul 18, 2013 11:03pm Jul 18, 2013 11:03pm
Quoting Stompe
Thanks for trying to explain offshore , but I am using the same version on both charts and they are clean no indi is left as i have only used this strat
I would still download V1.3
I do Good I feel GoodI do Bad I feel Bad
  • #2,489
  • Jul 19, 2013 8:49am Jul 19, 2013 8:49am
Quoting Offshore
{quote} I would still download V1.3
Correct me if im wrong the only difference in v1.3 is it has a trailing stop
Making money is easy,losing money is easier
  • #2,490
  • Jul 19, 2013 1:54pm Jul 19, 2013 1:54pm
Hi all,I see that there were a lot of interesting posts,last days.This week was really exciting till the end.

I must say : a LOT of people here are SPOILED.Why you don't practicing on demo,you want everything to be set in front of your nose.You want to make money without any INVESTING in your trading at all,that is totally mindless and wrong.
Funniest guys are those who speaks rubbish about this strategy but they didn't trade 2 days this strategy in effect.
This thread can be useful only for those who are ready to read,test and learn.You have wrong believe about whole this thread . This thread is only 100pips's good will for sharing.You want way to much.Think about whole this before ask some question.
  • #2,491
  • Jul 20, 2013 11:58am Jul 20, 2013 11:58am
Quoting NikolaFX
Hi all,I see that there were a lot of interesting posts,last days.This week was really exciting till the end. I must say : a LOT of people here are SPOILED.Why you don't practicing on demo,you want everything to be set in front of your nose.You want to make money without any INVESTING in your trading at all,that is totally mindless and wrong. Funniest guys are those who speaks rubbish about this strategy but they didn't trade 2 days this strategy in effect. This thread can be useful only for those who are ready to read,test and learn.You have wrong...
I'm with you, NikolaFX. No matter what you do, there are always someone out there keep complaining. All you need to do is to put them in a Naughty List and ignore them.
Keep learning while you are alive!
  • #2,492
  • Jul 20, 2013 12:06pm Jul 20, 2013 12:06pm
100pipsaday,

I've backtested this strategy for while, but I'm still trying to figure the TP and SL for a given pair. I knew that you put out a list of TP and SL for each pair. They've given me a very good result, but I like to learn how you figured out the TP and SL.

Could you show me?

Thank you very much.
Keep learning while you are alive!
  • #2,493
  • Jul 20, 2013 7:39pm Jul 20, 2013 7:39pm
Hi 100PipsADay

What do you think about the GBPAUD and EURAUD?Most time they are similar.On the W1 chart the trend looks like still bullish.But the D1 macd show down,so i see you got some short positions on these two pairs.

BR
Fishcoo
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  • #2,494
  • Jul 20, 2013 10:41pm Jul 20, 2013 10:41pm
I mentioned a week ago that A/U might be setting itself to finally head up. A/U is another 3SS valid long opportunity. I am in this one.
I love forex. One day it will love me back.
  • #2,495
  • Jul 20, 2013 10:42pm Jul 20, 2013 10:42pm
Quoting Fishcoo
Hi 100PipsADay What do you think about the GBPAUD and EURAUD?Most time they are similar.On the W1 chart the trend looks like still bullish.But the D1 macd show down,so i see you got some short positions on these two pairs. BR Fishcoo {image}

personally I only have one sell position open on these and will not open any more as they could go either way seems they are at levels where they could be resisted or they will break out for a good old up trend only time will see
I do Good I feel GoodI do Bad I feel Bad
  • #2,496
  • Jul 21, 2013 1:53pm Jul 21, 2013 1:53pm
Hi 100 pips
i have last questation about human intervention
when shall I stop the EA
1- at rang market (no clear trend )
2- in case of opened all 8 positions per pair ex ( EUR/JPY) has opened 8 positions I have to stop EA for E/j
3- ??? Any case else ??? Please tell me when ?

Thanks in advance
Amir
  • #2,497
  • Jul 22, 2013 4:21am Jul 22, 2013 4:21am
Quoting Amirsaid
Hi 100 pips i have last questation about human intervention when shall I stop the EA 1- at rang market (no clear trend ) 2- in case of opened all 8 positions per pair ex ( EUR/JPY) has opened 8 positions I have to stop EA for E/j 3- ??? Any case else ??? Please tell me when ? Thanks in advance Amir
One million dollars questions ...
  • #2,498
  • Edited 10:24am Jul 22, 2013 7:44am | Edited 10:24am
Hi 100Pips,

Here are a few non one million dollar questions.

1. Why do you use ATR (5) vs the normal (14)?
2. For Auto Pivot Indicator do you set Sundays on False?
3. Do you use daily pivots or just weekly and monthly?
4. Do you use mid ponits?

I obviosly know these are just S&R lines that are nice to have on the chart, but just trying to see how you think.
  • #2,499
  • Jul 22, 2013 6:30pm Jul 22, 2013 6:30pm
Quoting Axlz
100pips, I apologise for taking up more of your time, but I have another question. I have been using this method for a while, and it is excellent (thanks to you), and requires minimal attention everyday. That is fine. And I also know you are a very profitable and experienced trader, who does it for a living, with lots of $$. What would be your advice to a young (18 years old) aspiring professional trader such as myself? My question specifically, is that even though I've proved over 1-2 months that this is making me profit on my live account, I feel...
I will be completely honest with you. I've tried a few other strategies but I like to stick with what works and then spend my time looking for other streams of income whether it be managed forex accounts through traders with proven and profitable track records as well as other unconventional methods.

If I were you I would focus on learning this swing trading strategy and building up your accounts and then look to diversify your funds with other streams of income, not necessarily forex related investments though.

Feel free to email me if you're looking for other investment vehicles once you have liquid funds.
  • #2,500
  • Jul 22, 2013 6:31pm Jul 22, 2013 6:31pm
Quoting NikolaFX
Hi all,I see that there were a lot of interesting posts,last days.This week was really exciting till the end. I must say : a LOT of people here are SPOILED.Why you don't practicing on demo,you want everything to be set in front of your nose.You want to make money without any INVESTING in your trading at all,that is totally mindless and wrong. Funniest guys are those who speaks rubbish about this strategy but they didn't trade 2 days this strategy in effect. This thread can be useful only for those who are ready to read,test and learn.You have wrong...
Couldn't have said it better myself!
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