Third Screen Strategy - Dr. Alexander Elder | Page 128 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,541
  • Jul 24, 2013 10:58am Jul 24, 2013 10:58am
Stopped out on EURAUD and GBPAUD.

still short sentiment, or time to go long?
  • #2,542
  • Jul 24, 2013 11:03am Jul 24, 2013 11:03am
Quoting Axlz
Stopped out on EURAUD and GBPAUD. still short sentiment, or time to go long?
Maybe best to sit these pairs out for the time being if you currently have no open positions...

When in doubt stay out
  • #2,543
  • Jul 24, 2013 2:34pm Jul 24, 2013 2:34pm
Quoting Axlz
{quote} No. Check out the chart below. The boxes are the supply/demand zones from the monthly and weekly TFs. {image} EDIT: I may have misunderstood you. Those could very well be supply/demand zones, but I would need a closer look at the actual Price Action.
WOW, that pretty much cover the whole price range of the chart!

So, let me see, we should do this to all 12 or 18 or 24 pairs we are trading, do hours of analysis, then go to the EA and override the programmed setting because of the fact that some fundamental situation years ago caused a top in a currency and we think that might happen again simply due the numbers on the chart?

Good luck with that, hope to see you with your own thread with Trade Explorer to compete with 100_pips; until then, I wish people would stop interjecting with new ideas and follow along with what is presented.

Given that this is a Commercial thread and he has presented results from REAL accounts, over 2 years of results in fact, that is the least amount of respect that could be shown.

And in case you missed, 100_pips does advocate stopping the EA after huge runs in a direction, watching the price action for double tops, or any kind of turning point actually, before starting to trade again.

It takes a lot for me to IGNORE you, but you can try.
  • #2,544
  • Jul 24, 2013 5:34pm Jul 24, 2013 5:34pm
Quoting Erebus
{quote} WOW, that pretty much cover the whole price range of the chart! So, let me see, we should do this to all 12 or 18 or 24 pairs we are trading, do hours of analysis, then go to the EA and override the programmed setting because of the fact that some fundamental situation years ago caused a top in a currency and we think that might happen again simply due the numbers on the chart? Good luck with that, hope to see you with your own thread with Trade Explorer to compete with 100_pips; until then, I wish people would stop interjecting with new...
Even a newbie has more knowledge of PASR than this. It's obvious from your post that you are clueless, and have no idea of the concept at all.

I suggest you grasp the basics before you make more hilarious posts like this.
  • #2,545
  • Jul 24, 2013 6:28pm Jul 24, 2013 6:28pm
come on folks.post your signals here. i only see two at the moment.

euraud - sell

and

audjpy - buy
  • #2,546
  • Jul 24, 2013 7:30pm Jul 24, 2013 7:30pm
Quoting whatfx
come on folks.post your signals here. i only see two at the moment. euraud - sell and audjpy - buy
Neither of these currencies have a clear direction.
  • #2,547
  • Jul 24, 2013 8:59pm Jul 24, 2013 8:59pm
GBPAUD D1 MACD has switched to uptrend.

Weekly is also uptrend.

And price is above the EMAs.

Time to go long?
  • #2,548
  • Jul 24, 2013 10:51pm Jul 24, 2013 10:51pm
Quoting Axlz
GBPAUD D1 MACD has switched to uptrend. Weekly is also uptrend. And price is above the EMAs. Time to go long?
Quoting 100PipsADay
{quote} I mentioned before that one needs to take the Weekly trend into consideration FIRST. Then trade using Daily MACD and H1 Williams % I can't really explain to anybody here how to tell if Weekly trend is up or down, it is pretty self explanatory most of the time if one just looks at the chart. However, even using the D1 MACD and H1 time frame without taking the Weekly into consideration can still be profitable. Just look at the recent short positions for USD/JPY and the JPY cross pairs... Folks, keep in mind that I am here to present a strategy...

Quoting 100PipsADay
{quote} Maybe best to sit these pairs out for the time being if you currently have no open positions... When in doubt stay out

What are the rules for this method? Has anyone seen them?


It takes a lot for me to IGNORE you, but you can try.
  • #2,549
  • Jul 25, 2013 1:37am Jul 25, 2013 1:37am
Quoting Erebus
{quote} {quote} {quote} What are the rules for this method? Has anyone seen them?
You just showed that I have great understand of the rules, by quoting my post, and then 100pips', both of which state identical factors which are taken into consideration for trend direction.

Perhaps you should not only learn basic technical analysis, but also READ posts before you post.

I highly suggest you take my advice, before you clutter this thread with more useless posts.
  • #2,550
  • Jul 25, 2013 2:36am Jul 25, 2013 2:36am
Hi Pippy - here is the EA Khaled very kindly (and amazingly quickly) coded for me. Got it on Alpari demo and it is working. Thanks Khaled!!!!!!!!!!!!!!!
Attached File(s)
File Type: ex4 Daily Pivot EA - Claudia .ex4   20 KB | 518 downloads
  • #2,551
  • Jul 25, 2013 2:43am Jul 25, 2013 2:43am
Quoting claudia1
Hi Pippy - here is the EA Khaled very kindly (and amazingly quickly) coded for me. Got it on Alpari demo and it is working. Thanks Khaled!!!!!!!!!!!!!!! {file}
Keep me posted on the progress and results of this particular strategy. Perhaps you could link an account to Trade Explorer and/or MyFxBook if it's not too much trouble.

Thanks Claudia!
  • #2,552
  • Jul 25, 2013 2:54am Jul 25, 2013 2:54am
Quoting claudia1
Hi Pippy - here is the EA Khaled very kindly (and amazingly quickly) coded for me. Got it on Alpari demo and it is working. Thanks Khaled!!!!!!!!!!!!!!! {file}

Hi Claudia

Can u provide a brief user guide, to explain how this EA works and what are the usable parms we can set, best TF, pairs to trade etc?
  • #2,553
  • Jul 25, 2013 2:54am Jul 25, 2013 2:54am
Quoting 100PipsADay
{quote} Keep me posted on the progress and results of this particular strategy. Perhaps you could link an account to Trade Explorer and/or MyFxBook if it's not too much trouble. Thanks Claudia!
Took a profit this morning on it. I'll test for a week (not long but is really simple) then put MyFxBook uo.
  • #2,554
  • Jul 25, 2013 2:58am Jul 25, 2013 2:58am
Quoting ymleong
{quote} Hi Claudia Can u provide a brief user guide, to explain how this EA works and what are the usable parms we can set, best TF, pairs to trade etc?
Ok just once as don't want to interfere with pippys thread. I trade 1 hour bar on cable (London time) Look for a close above/below the daily pivot to enter with a target of 20 pips/stop 20 pips. Simple.
  • #2,555
  • Jul 25, 2013 3:00am Jul 25, 2013 3:00am
Quoting claudia1
{quote} Took a profit this morning on it. I'll test for a week (not long but is really simple) then put MyFxBook uo.
  • #2,556
  • Jul 25, 2013 3:01am Jul 25, 2013 3:01am
Quoting claudia1
{quote} Ok just once as don't want to interfere with pippys thread. I trade 1 hour bar on cable (London time) Look for a close above/below the daily pivot to enter with a target of 20 pips/stop 20 pips. Simple.
Don't worry about it, it's been a little quiet around here anyways... LOL
  • #2,557
  • Jul 25, 2013 3:03am Jul 25, 2013 3:03am
Quoting 100PipsADay
{quote} Don't worry about it, it's been a little quiet around here anyways... LOL
lol but I don't want millions of questions like you used to get!!
  • #2,558
  • Jul 25, 2013 3:04am Jul 25, 2013 3:04am
Quoting claudia1
{quote} lol but I don't want millions of questions like you used to get!!
I see you're a quick learner...
  • #2,559
  • Jul 25, 2013 3:09am Jul 25, 2013 3:09am
You have to be it seems. Here's today's chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh1.png Size: 47 KB
  • #2,560
  • Jul 25, 2013 3:42am Jul 25, 2013 3:42am
Quoting Axlz
GBPAUD D1 MACD has switched to uptrend. Weekly is also uptrend. And price is above the EMAs. Time to go long?
I know you use H1 as your intermediate TF but looking at it from a daily point of view using %R(14) there's only one chance to for a trade and that was when it looks like the trend *may* have come to an end.

If I switch to %R(2) there are more opportunities to add more trades and you can get in on the trend quite close to the start.

Is this too risky or is it just because things work differently on the daily charts than they do on the hourly?

One of the overbought/oversold indicators that Alexander Elder recommends for the triple screen strategy is the Force Index and he advocates using a period of 2.

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