Third Screen Strategy - Dr. Alexander Elder | Page 142 | Forex Factory

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Third Screen Strategy - Dr. Alexander Elder

  • #2,821
  • Sep 7, 2013 7:43am Sep 7, 2013 7:43am
Hi 100Pips,

Thanks for the reply. My apology. I only started to test your Third Screen Strategy EA on 5 Sep 2013, 14.23 (Time). I can't seem to attach new attachment as I am a new member with limited attachment quota. Please kindly refer to my previous attachment. Please ignore the rest of the trades before 5 Sep 2013, 14.23 time. Those trades before 5 Sep 2013 14.23, some were using another brilliant strategy of yours D1 20EMA 50EMA. But I wanted to back test one strategy at a time on my demo account to see which strategy fits my risk profile.

Anyway, for those trades after 5 Sep 2013, all the SL and TP were automatically input. The weird thing was most of the trades closed before hitting the SL or TP levels automatically set by the system. I understand you may not have all the answers but I was just hoping you could kindly tell me what are the recommended pairs for your Third Screen Strategy and D1 20EMA 50EMA strategy, so that I can test out and see the result as well as share it with you.

What is the correct default setting? FYI, I could not attach any attachment as I am a junior member with limited attchment quota. I would love to show you my default settings. Anyway, I will use the only way I am allowed to show you what are my defaults settings. The only setting I changed were the lot size (from 0.1 to 1.0), take profit and stop loss levels (based on your recommended parameters for different currency pairs), the max position from 8 positions to 2 position per currency pair and delay hours of 6 hours. What are the correct default settings? Please let me know. Thanks in advance.

Based on this default settings, I tested on 9 pairs of currency, CAD/JPY, AUD/USD, EUR/AUD, EUR/CAD, EUR/USD, AUD/JPY, NZD/JPY, EUR/JPY, GBP/JPY. Please kindly let me know what are the recommended pairs for the 3rd screen strategy and D1 20EMA 50EMA. Thanks in advance.

I have read through the entire Third Screen Strategy posted by you and I have to admit I do not understand all of it but I do get the overall picture.

Please correct me if I am wrong. I remember reading through some of your past post. Although this 3rd screen strategy is automated., one still needs to do some research on the long trend. So what I normally do is I will look at the weekly trend for each currency pairs over the weekend based on the weekly pivot, S&R levels. Am I doing the right thing?

I have one question, since the 3rd screen strategy is automated, what is the reason behind it for looking at the weekly trend based on the support and resistance level? After all, on Monday when the market opens, the system will automatically open positions based on the default settings. Please advise.

thanks again for all the help and I will keep you posted on my testing.

thanks, John
  • #2,822
  • Sep 7, 2013 1:51pm Sep 7, 2013 1:51pm
Quoting 100PipsADay
{quote} Wow! I take off for the past month or so of trading and I come back to find quite a bit of misleading information being posted about me and my strategies. Last July was my only losing month with the Grid Trading system that I am offering to clients but what you saw on one of the client's accounts was NOT entirely accurate. He intervened and closed out his trades due to fear and ended up losing a LOT of money. My account, however, is still doing great. All you need to do to find accurate statistics is to take a look at my site...
In your commercial thread I expected that what you showed was accurate. You have to agree that in your announcements you did nowhere indicate this would be not the case.

  1. Post# 10
  2. Post# 13
  3. Post# 14
  4. Post# 15


Anyway, wish you success in your trading

Cheers

Ati

Money is important, Love is essential.
  • #2,823
  • Sep 7, 2013 2:11pm Sep 7, 2013 2:11pm
Trading Forex is high riskier business. If you cannot handle it, stay away.

http://www.myfxbook.com/members/xlit...e-pairs/653168
Follow me to the Promised Land
  • #2,824
  • Sep 7, 2013 3:46pm Sep 7, 2013 3:46pm
Quoting Ati Baia
{quote} In your commercial thread I expected that what you showed was accurate. You have to agree that in your announcements you did nowhere indicate this would be not the case. Post# 10 Post# 13 Post# 14 Post# 15 Anyway, wish you success in your...
Are you serious Ati? How can I anticipate the client(s) personal actions to interfere with the trading activity? I do not own any sort of Crystal Ball which allows me to see into the future.

I have already posted a link to the Master Account which was started late January 2013.

There is no way that I can control the actions of the client as they do still maintain control of their account. I made it clear that he should not interfere but that simply wasn't the case. I don't know how to make it any more clear for you...

Your post was not thought out at all! I hope your trading decisions have a little more thought behind them than this post you just made...

$25,000 Live Master Account

Have you been able to make a 300% return this year?

Have you been able to make an average of $7,000 per month this year?


Guess what, I have...
  • #2,825
  • Sep 7, 2013 3:52pm Sep 7, 2013 3:52pm
Quoting jackal2912
Hi 100Pips, Thanks for the reply. My apology. I only started to test your Third Screen Strategy EA on 5 Sep 2013, 14.23 (Time). I can't seem to attach new attachment as I am a new member with limited attachment quota. Please kindly refer to my previous attachment. Please ignore the rest of the trades before 5 Sep 2013, 14.23 time. Those trades before 5 Sep 2013 14.23, some were using another brilliant strategy of yours D1 20EMA 50EMA. But I wanted to back test one strategy at a time on my demo account to see which strategy fits my risk profile....
Please read through the last 40-50 pages of this thread. You will learn everything you need to know. I simply don't have time to be repeating myself anymore, thank you for understanding.
  • #2,826
  • Sep 7, 2013 3:53pm Sep 7, 2013 3:53pm
Quoting xlitang
Trading Forex is high riskier business. If you cannot handle it, stay away. http://www.myfxbook.com/members/xlit...e-pairs/653168


Excellent trading Xlitang!
  • #2,827
  • Sep 7, 2013 4:46pm Sep 7, 2013 4:46pm
Quoting 100PipsADay
{quote} Are you serious Ati? How can I anticipate the client(s) personal actions to interfere with the trading activity? I do not own any sort of Crystal Ball which allows me to see into the future. I have already posted a link to the Master Account which was started late January 2013. There is no way that I can control the actions of the client as they do still maintain control of their account. I made it clear that he should not interfere but that simply wasn't the case. I don't know how to make it any more clear for you... Your post was not thought...
If two people manage one account at the same time, it doomed to fail. Trade a grid system will be involve big DD sometimes. It is when big profit will be made when market retrace. If you are panic and close your trades you will miss opportunity to made big profit and suffered big loss. Grid system is not for you, try to find another holy grail. I believe it does not exist.

http://www.myfxbook.com/members/xlit...e-pairs/653168
Follow me to the Promised Land
  • #2,828
  • Sep 8, 2013 1:18pm Sep 8, 2013 1:18pm
Hey pips keep on winning its not difficult - some try and make it so!
  • #2,829
  • Sep 8, 2013 6:15pm Sep 8, 2013 6:15pm
Quoting claudia1
Hey pips keep on winning its not difficult - some try and make it so!
Attached Image (click to enlarge)
Click to Enlarge Name: Aggressive_Swing.png Size: 73 KB
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  • #2,830
  • Sep 9, 2013 12:37am Sep 9, 2013 12:37am
Pips,

I used ProfiForex for my live account. I experienced very strange behavior of orders opened. a whole bunch of unwanted orders got opened. they were definitely not opened by my EA and almost blew up my accounts. I will be very careful with this broker.
Follow me to the Promised Land
  • #2,831
  • Sep 9, 2013 12:44am Sep 9, 2013 12:44am
Quoting xlitang
Pips, I used ProfiForex for my live account. I experienced very strange behavior of orders opened. a whole bunch of unwanted orders got opened. they were definitely not opened by my EA and almost blew up my accounts. I will be very careful with this broker.
I have never experienced anything like this with them, ever! Were you able to get this issue resolved?
  • #2,832
  • Sep 9, 2013 6:22am Sep 9, 2013 6:22am
Quoting 100PipsADay
{quote} I have never experienced anything like this with them, ever! Were you able to get this issue resolved?
After I controlled the damage market retraced to my favor and managed to made very good profits. Praise the Lord..
Follow me to the Promised Land
  • #2,833
  • Sep 9, 2013 1:05pm Sep 9, 2013 1:05pm
Hi Pips , Please carry on , Need ur guidance , I don't go for FishNetSystem , Malcolm .
  • #2,834
  • Sep 10, 2013 12:13am Sep 10, 2013 12:13am
What an excellent week for those of us who went long AUD/USD, AUD/JPY,and went short on EUR/AUD and GBP/AUD!

Take a look at my Aggressive Account returns this month.

Some people can and some people can't...
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  • #2,835
  • Sep 10, 2013 3:12am Sep 10, 2013 3:12am
Quoting 100PipsADay
What an excellent week for those of us who went long AUD/USD, AUD/JPY,and went short on EUR/AUD and GBP/AUD! Take a look at my Aggressive Account returns this month. Some people can and some people can't... {image} {image}

Hi 100Pips.

Do you use the third screen strategy for the abovementioned long and short positions?
  • #2,836
  • Sep 10, 2013 3:23am Sep 10, 2013 3:23am
Hi 100pips,

Yesterday, based on third screen strategy, I short on EUR/AUD and make a decent profit. I realised that the SL level should around 100pips and above to be able to make decent profit. Anyway, thanks.

Is it still ok to open long positions for AUD/USD and AUD/JPY and short positions for EUR/AUD? or it is better to get the signal from third screen strategy?

Now, I still have EUR/CAD on short positions. What do you think about this pair?

thanks for this third screen strategy.
  • #2,837
  • Sep 10, 2013 4:00am Sep 10, 2013 4:00am
Quoting jackal2912
{quote} Hi 100Pips. Do you use the third screen strategy for the abovementioned long and short positions?
Yes
  • #2,838
  • Sep 10, 2013 4:02am Sep 10, 2013 4:02am
Quoting jackal2912
Hi 100pips, Yesterday, based on third screen strategy, I short on EUR/AUD and make a decent profit. I realised that the SL level should around 100pips and above to be able to make decent profit. Anyway, thanks. Is it still ok to open long positions for AUD/USD and AUD/JPY and short positions for EUR/AUD? or it is better to get the signal from third screen strategy? Now, I still have EUR/CAD on short positions. What do you think about this pair? thanks for this third screen strategy.
Wait for H1 OVER SOLD conditions for AUD/USD and AUD/JPY.

Wait for H1 OVER BOUGHT conditions for EUR/AUD and GBP/AUD.

EUR/CAD is looking like a good short position but I personally prefer EUR/AUD over EUR/CAD as the ATR for EUR/CAD is about half of EUR/AUD. It is still a good pair to trade with this strategy though.
  • #2,839
  • Sep 10, 2013 4:08am Sep 10, 2013 4:08am
Hi 100Pips,

Thanks for the prompt reply.

I back tested both D1 20EMA and 50 EMA and third screen strategy. Both produces good results. But I personally prefer your third screen strategy. Thanks again for sharing with all of us.

I have a question I want to clarify with you and I keep forgetting. Now I remember. For all those positions (short or long) opened by the EA Third Screen Strategy, do we keep it a few days till we hit our TP level? Does this third screen strategy provides better results if we keep those opened positions a few days or it produces better results if we close on the same day?

cheers
  • #2,840
  • Sep 10, 2013 4:11am Sep 10, 2013 4:11am
Quoting jackal2912
Hi 100Pips, Thanks for the prompt reply. I back tested both D1 20EMA and 50 EMA and third screen strategy. Both produces good results. But I personally prefer your third screen strategy. Thanks again for sharing with all of us. I have a question I want to clarify with you and I keep forgetting. Now I remember. For all those positions (short or long) opened by the EA Third Screen Strategy, do we keep it a few days till we hit our TP level? Does this third screen strategy provides better results if we keep those opened positions a few days or it produces...
Remember that we are SWING TRADING so positions could be held for a few days to a few weeks on average.

You want to wait for SL or TP targets to get hit so that we maintain the 1:2 risk reward ratio. There will be times when we get stopped out and we don't want to lose more then we make per trade.
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