Third Screen Strategy - Dr. Alexander Elder | Page 135 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,681
  • Aug 5, 2013 6:20am Aug 5, 2013 6:20am
Quoting shum
{quote} Whay not? {image}
That is not even correct divergence.... You can't just draw a higher low when it obviously isn't.

And what a surprise, EURUSD is going down.
  • #2,682
  • Aug 5, 2013 6:23am Aug 5, 2013 6:23am
Quoting shum
{quote} Whay not? {image}
What is that currency strength meter to the left of the chart? Can you post it? Would like to test it out. Thanks.
  • #2,683
  • Aug 5, 2013 4:59pm Aug 5, 2013 4:59pm
Quoting shum
{quote} Whay not? {image}

This is clearly a bullish divergence by any means of interpretations.

It ususally works in favor of the direction on the upside. This would raise the question of a potential false break out and the subsequent reversal to the downside to at least the lower line of the triangle formation. It remains to be seen in accordance with this bullish divergence with price and MACD.
  • #2,684
  • Aug 6, 2013 3:27am Aug 6, 2013 3:27am
Quoting Axlz
{quote} That is not even correct divergence.... You can't just draw a higher low when it obviously isn't.
Not even close.
Attached Image
  • #2,685
  • Aug 6, 2013 8:17am Aug 6, 2013 8:17am
I have a simple question to those who use the EA that live in the USA. This concerns the FIFO - First In First Out Rule. Let's assume a Buy is made at 1.3300. After 6 hours the price goes down and a second Buy is made at 1.3200. Now price goes back up. The 2nd order (1.3200) will hit TP first. What does EA do in this instance? Does it report errors or say FIFO rule in the journal tab? Does the EA check every tick until the first order(1.3300) hits TP and then will close the 2nd order right away? Just curious. Anyone could answer this, I am not sure if Khaled the writer of the EA is still around. I wonder how 100PipsADay handled this on the live account? Since he stated he used very little intervention, did he always wait for the first order to close? Unless of course he saw a reversal. Thanks.
  • #2,686
  • Aug 6, 2013 8:42am Aug 6, 2013 8:42am
The other is the NFA FIFO rule, and only applies to the US Division. If you have multiple trades of the same quantity on the same pair you must close the oldest of those trades first.
When I Buy Price Short, When I Sell Price Goes Long.
  • #2,687
  • Aug 6, 2013 10:31am Aug 6, 2013 10:31am
Quoting DrNoStopLoss
I have a simple question to those who use the EA that live in the USA. This concerns the FIFO - First In First Out Rule. Let's assume a Buy is made at 1.3300. After 6 hours the price goes down and a second Buy is made at 1.3200. Now price goes back up. The 2nd order (1.3200) will hit TP first. What does EA do in this instance? Does it report errors or say FIFO rule in the journal tab? Does the EA check every tick until the first order(1.3300) hits TP and then will close the 2nd order right away? Just curious. Anyone could answer this, I am not sure...
Not sure about the EA but if I try to close the second position manually, the broker software will automatically close the first position first.

That is why I mentioned to 100pips earlier about using a non-US broker. If you open positions and price starts to reverse or consolidate then you can use some "recovery" techniques to help minimize loss. But it is harder to do that with a US broker because of the FIFO. If you do not want to use a broker outside the US, one option is to have 2 separate accounts in the US.
  • #2,688
  • Aug 6, 2013 10:42am Aug 6, 2013 10:42am
Quoting crottsinabox
{quote} Not sure about the EA but if I try to close the second position manually, the broker software will automatically close the first position first. That is why I mentioned to 100pips earlier about using a non-US broker. If you open positions and price starts to reverse or consolidate then you can use some "recovery" techniques to help minimize loss. But it is harder to do that with a US broker because of the FIFO. If you do not want to use a broker outside the US, one option is to have 2 separate accounts in the US.
This is what I have. One account with FXCM and another with IBFX. I thought about off shore accounts but after reading some bad stories and the thing with Cyprus I did not want to take a chance. It hard enough for me to make money in FX let alone lose it to another Country or broker and have no recourse, of course the way this Country is heading we are not much better.
When I Buy Price Short, When I Sell Price Goes Long.
  • #2,689
  • Aug 6, 2013 11:24am Aug 6, 2013 11:24am
Quoting jcvmw
{quote} This is what I have. One account with FXCM and another with IBFX. I thought about off shore accounts but after reading some bad stories and the thing with Cyprus I did not want to take a chance. It hard enough for me to make money in FX let alone lose it to another Country or broker and have no recourse, of course the way this Country is heading we are not much better.
Agreed. I love the fact the 3SS allows me to sit in front of the computer less but sometimes some intervention is really necessary to help protect the hundreds of pips racked up and the US regulations don't help at all.

I have resorted to just opening 2 positions open at a time per pair until I can get my capital up higher.
  • #2,690
  • Aug 6, 2013 12:23pm Aug 6, 2013 12:23pm
As far as triple screen, I like the Elder Ray. Bulls, Bears with 22 EMA.
When I Buy Price Short, When I Sell Price Goes Long.
  • #2,691
  • Aug 6, 2013 1:52pm Aug 6, 2013 1:52pm
Quoting jcvmw
As far as triple screen, I like the Elder Ray. Bulls, Bears with 22 EMA.
I've been looking for awhile for the Elder Bull/Bear power oscillator without any success. Have you got it?
  • #2,692
  • Aug 6, 2013 1:55pm Aug 6, 2013 1:55pm
Quoting MKFXTrader
{quote} I've been looking for awhile for the Elder Bull/Bear power oscillator without any success. Have you got it?
All I use is the Bulls/Bears Indicators that come with MT4 and a 22EMA and follow directions as described in his book " Come into My Trading Room."
When I Buy Price Short, When I Sell Price Goes Long.
  • #2,693
  • Aug 6, 2013 3:14pm Aug 6, 2013 3:14pm
Quoting jcvmw
{quote} All I use is the Bulls/Bears Indicators that come with MT4 and a 22EMA and follow directions as described in his book " Come into My Trading Room."
How did you come up with the 22EMA? If I'm not mistaken, I believe Dr Elder uses the 13EMA.
  • #2,694
  • Aug 6, 2013 3:37pm Aug 6, 2013 3:37pm
Quoting MKFXTrader
{quote} How did you come up with the 22EMA? If I'm not mistaken, I believe Dr Elder uses the 13EMA.
In his book page 116 he uses a 22 ema and in his discussion of the triple screen on page 147 he uses a 22 ema.
When I Buy Price Short, When I Sell Price Goes Long.
  • #2,695
  • Aug 6, 2013 3:39pm Aug 6, 2013 3:39pm
Quoting jcvmw
{quote} In his book page 116 he uses a 22 ema and in his discussion of the triple screen on page 147 he uses a 22 ema.
Why not post your template that way we can move on.
  • #2,696
  • Aug 6, 2013 3:43pm Aug 6, 2013 3:43pm
Quoting DrNoStopLoss
{quote} Why not post your template that way we can move on.
I'm sorry, I was just answering the man's questions. I have no template.
When I Buy Price Short, When I Sell Price Goes Long.
  • #2,697
  • Aug 6, 2013 3:50pm Aug 6, 2013 3:50pm
Quoting jcvmw
{quote} In his book page 116 he uses a 22 ema and in his discussion of the triple screen on page 147 he uses a 22 ema.
Thx.
  • #2,698
  • Aug 6, 2013 5:50pm Aug 6, 2013 5:50pm
Just opened my first trade using the triple screen - Sell AUD/USD @ 0.89849

I'm working on a daily chart as my intermediate TF and a weekly for my trend so I'm not sure of the SL/TP I should be using as the recommendations in this thread are for H1/D1...but I'll work it out.
  • #2,699
  • Aug 7, 2013 4:38am Aug 7, 2013 4:38am
Hi everybody,

I have question reg. MACD adjustbale, could somebody explain about difference of MACD adjustable vs standard Macd? how we can set macd adjust to get same result of standard one? i mean i tried to have 5, 13, 1 setting for adjustable but it deleted histo and one signal line and shows only one line like attached file. In the pic. above is adjustable and below is standard MACD.

Pls. help.
Attached Image (click to enlarge)
Click to Enlarge Name: MACD adjust.png Size: 41 KB
  • #2,700
  • Aug 7, 2013 11:59pm Aug 7, 2013 11:59pm
Hi TSS traders We cannot afford to close TSS as it is one of the best This is my 6h thread , 100pips please carry on or can some one else take over and carry on , Malcolm ,
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