A better triple screen
bubble
The 60 minute will represent the steps
The 240 will represent the sidebars
The daily will represent whatever we lean the ladder up against.
Have two questions;
1 .... Which time scale do you get your market information from (trends)?
2 .... which time scale do you derive your trades from (signals)?
Keit
bubble
Have two questions;
1 .... Which time scale do you get your market information from (trends)?
2 .... which time scale do you derive your trades from (signals)?
KeitPhase 1 is the steps the steps are the trend, so as i have outlined above it would be the lowest timeframe of the 3 you choose.
The entry also comes from the retracements in the trend , we move up the ladder with caution because we know that eventually there will be no more steps to climb as we will reach the top of the wall ,so each time we move up the ladder we take our foot off the ladder and step back slightly take a look up and decide if we should continue.
bubble
If you get both the market trend and your trade signal for the lowest chart 60M in your case. what are the other two charts used for?
Phase 1 is the steps the steps are the trend, so as i have outlined above it would be the lowest timeframe of the 3 you choose.
The entry also comes from the retracements in the trend , we move up the ladder with caution because we know that eventually there will be no more steps to climb as we will reach the top of the wall ,so each time we move up the ladder we take our foot off the ladder and step back slightly take a look up and decide if we should continue.
bubbleIf you get both the market trend and your trade signal for the lowest chart 60M in your case. what are the other two charts used for?
I will cover in more detail each phase/timeframe later but just to answer your question briefly ;
Phase one shows when the market is creating the steps of the ladder or the trend and gives us the entry points on the retracement of the trend.
Phase 2 shows the steps within the sidebars of the ladder and in trading terms simply shows that the lower timeframe is moving faster than the middle and this is important as any trend will begin from the lower timeframes as the price moves through to the higher timeframes.
Phase 3 tells us wether the ladder is propped against the wall in the right direction , in trading terms this tells us wether the trend is moving in the direction of the higher timeframe.
bubble
I see your just trying to make it sound more complicated then it is, or has to be.
I see your just trying to make it sound more complicated then it is, or has to be.
Really , whats so complicated about using an analogy to explain something?
bubble
Free trial invitation
FREE TRIAL INVITATION TO LEARN THE TRIPLE SCREEN METHOD
Before i move on to the next phase of the triple screen i would like to take this opportunity to invite any of the admin from forex tsd to witness how the method works as im sure that your opinion will be valued and trusted by the members here
The trial consists of spending a day or two with me on a live screenshare basis.
i hope that you take this opportunity as it will be of great benefit to the other members here.
bubble
Trading 2 triple screen set ups from one screen
HOW TO TRADE 2 TRIPLE SCREEN SET UPS FROM ONE SCREEN
From here on i will refer to trading in the normal technical terms , the analogy with the ladders was meant to be for any newb reading this thread.
An interesting phenomenon is that we can trade 2 triple screen set ups from one screen.
Remember the order of the screens
SCREEN 1 - 60 MINUTE - TREND
SCREEN 2 - 240 MINUTE - 60 MINUTE MOVING FASTER THAN THE 240
SCREEN 3 - DAILY - TRADE IN THE SAME DIRECTION ONLY
So our trading screen or trend screen is always set to the 60 minute and this is the one we are watching for a trend to develop but we can also use screen one to watch for a screen 2 set up.
If we see a screen 2 set up that means the 15 min is moving faster than the 60 min we can drop to the 15 minute and use that as screen one the 60 as screen 2 and the 240 as screen 3 .
Some great results today i will not post them as that may be classed as cheating ,this system is hands on and requires screen time but also allows for some freedom as the charts only need to be checked every hour.
Just to give an idea there were several trades today across 9 currency pairs
and oil and wti and the 2 triple screen set ups (15-60-240) and (60-240-daily) which generated over 400 pips profit with clear precise rules for entry ,stop loss, and exit.
Any member of admin is welcome to come along for a free demo to verify what i am saying.
bubble
bubble,can you post the indicators & template for this system,please?
Indicators
bubble,can you post the indicators & template for this system,please?
Simple answer is i can not, why? to keep it short ,this system works and it works extremely well, should i post the indicators i would be compromising my own trading style as it would be open for all to know where i have placed my stops etc, i have explained that should there be enough interest in this i would be willing to start a subscription based trading group, i have invited any of the admin to a free presentation for them to confirm everything i am saying is correct, so far no answer.
So once again i will say this system is extremely powerful , we are following the tier system that exists in any tradeable market, should the BOE wish to strengthen the pound or the FED wish to weaken the dollar etc the system will be right behind following their actions , we follow not forecast.
bubble
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As we all know trading can be confusing and frustrating and its not always easy to find a method that is simple and effective.
Im sure most of you will have seen the triple screen system developed by Dr Alexander Elder and it is my belief that there has always been something missing from the system to make it complete.
Having studied the markets for some years now i found that there are 3 phases to the market that can be used to quite good effect to trade with a high probability of success.
If there is enough interest in this method i will be starting a live trading group for anyone who is interested to learn this method and yes there will be a charge for this but first lets go through some of the basic theory.
I will discuss these phases here in simple terms, lets think of the price movement in the markets as a ladder and our work is to climb up or down that ladder to get to the treasure.
To make a ladder we first need the sidebars once we have the sidebars we then need the steps placed between the sidebars to complete the ladder ,ok so we have a ladder so now we need something to lean the ladder against to be able to climb up or down, we can lean the ladder against a wall to climb up to the top and back down again or we can place the ladder in a hole and climb down and back up again.
It sounds simple because it really is that simple , now lets take a look at the three phases in terms of trading.
Phase 1 - The steps
Phase 2 - The sidebars
Phase 3 - Lean the ladder against something
In trading we can use any 3 timeframes with a factor of 4-6 between each timeframe so this means that if i start phase 1 on the 60 minute timeframe phase 2 must be at least 4 times greater which would mean we use the 240 minute for phase 2 (60x4=240) and the daily for phase 3 (240x6), of course we have some limitations due to the timeframes available in metatrader 4.
The 60 minute will represent the steps
The 240 will represent the sidebars
The daily will represent whatever we lean the ladder up against.
to be continued