If we are targeting 280 pips per trade what is a few pips extra for spread?

Third Screen Strategy - Dr. Alexander Elder

AUD/CAD It looks as though we may see a Bearish Engulfing candle from a Weekly perspective. Still have a few days left but this would be a good sign of trend reversal using price action. D1 MACD has just crossed over to the downside. All we need to ...

Third Screen Strategy - Dr. Alexander Elder

I wouldn't. I don't trade USD/CHF but when looking at EUR/USD we have a strong Weekly down trend and the D1 MACD has just crossed over to the downside again so I would be looking to sell EUR/USD OR buy USD/CHF.

Third Screen Strategy - Dr. Alexander Elder

Let's take EUR/JPY for example back early February 2013. The D1 MACD moving averages crossed over on February 7. However, the first "RED" bar on the D1 MACD appeared on February 8. Either way it would have been a sell trade and a trader would then ...

Third Screen Strategy - Dr. Alexander Elder

If it is easier just keep an eye on the bars. Blue = Buy Red = Sell **Either way that trade was a BUY and ended up being profitable regardless if the trader waited for the MA's to cross over or if they bought because of the blue bar.

Third Screen Strategy - Dr. Alexander Elder

I personally look at the bars. Red / Blue bar dictates the trend, but it really doesn't matter as we are trading off of the Daily time frame so it allows one to be flexible with their entries. Cross over of MA's or looking at the bars, it doesn't ...

Third Screen Strategy - Dr. Alexander Elder

After looking at the Silver chart I noticed that it has been stuck in a tight range for about 1 month now so until a clear breakout occurs (up or down) it is probably best to wait. Keep in mind that the Third Screen Strategy is a Trend Strategy so ...

Third Screen Strategy - Dr. Alexander Elder

Hi Khaled, I personally wouldn't buy GBP/USD at this time even though D1 MACD is showing "uptrend" because we are in a strong weekly and even monthly down trend now. I also still have one sell position open from a few weeks back so I won't touch ...

Third Screen Strategy - Dr. Alexander Elder

Hi Fishcoo, Yes the short JPY positions are looking good so far. As for the SL and TP changes I am trying something new with a few trades, larger SL but also larger TP. I've highlighted the 4 trades with different SL and TP targets. However, I would ...

Third Screen Strategy - Dr. Alexander Elder

I'm glad it's working out for you WhatFx! Keep up the good work.

Third Screen Strategy - Dr. Alexander Elder

I'm simply following the system that I have explained throughout this entire thread and has been tried and proven for about a year and a half. EUR/JPY: D1 MACD is in downtrend. I just banked over 1,000 pips with 4 SELL positions and have added a few ...

Third Screen Strategy - Dr. Alexander Elder

Got a few more short positions last night. Current Open Positions

Third Screen Strategy - Dr. Alexander Elder

Closed out 4 EUR/JPY SELL positions earlier today for 1,112 Pip profit. (1st Chart) Current Open Positions (2nd Chart) **Will post progress later this week. All trades were done using D1 MACD and H1 Williams % as explained multiple times throughout ...

Third Screen Strategy - Dr. Alexander Elder

FishCoo, Looks like a solid SELL signal to me! I typically set a SL of 160 and a TP of 280 when trading off of the Daily time frame but that is going to be up to you. As far as the signal goes I'm right there with you. Great work!

Third Screen Strategy - Dr. Alexander Elder

Sidhujag, Weren't you saying to short ALL JPY Cross Pairs months ago due to your "Murray Math System" never being wrong? SWAP would be killing the person holding short positions not to mention the pretty big draw downs (400+ pips) one would have ...

USD/JPY Discussion

Stocks Rally...But It May be Due to the Bank of Japan, Not the Fed Wednesday, 20 Mar 2013 | 2:56 PM ET By: Bob Pisani Stocks rally...but it may have been due to the Bank of Japan, not the Federal Reserve. Stocks did nothing for the first 10 minutes ...

JPY Cross Pairs

Hi WhatFx, I am still long term bullish on ALL JPY cross pairs including EUR/JPY. I am still holding quite a few long positions for ALL JPY cross pairs at the moment. Right now my main focus is trading JPY cross pairs especially AUD/JPY, CAD/JPY, ...

Third Screen Strategy - Dr. Alexander Elder

Hi Howard, This would all depend on the traders' personal preference. I like to open a few positions (2-4) and then when I am in profit by about 100-150 pips or so for each trade, I may look to add another 2-4 positions. Its up to you.

Third Screen Strategy - Dr. Alexander Elder

I normally use a set 160 SL and 280 TP. However, for some pairs I use a SL of 260 and a TP of 320. Its up to you though.

Third Screen Strategy - Dr. Alexander Elder