Can Triple screen trading be used in a trend following setup

Good evening good people.

I started learning how to trade in late 2015(September), I have been reading trading books such as Millionaire Traders, Come Into My Trading Room, One Good trade, The Magic of Stock Timing and Trading For a Living( Currently reading). I Like to specialize in AUDUSD as I have developed a feel for this pair. Now my problem seems to be information over-load, I’ve find that I like triple screen trading by Dr. Elder but my question is CAN IT BE USED IN A TREND FOLLOWING SETUP. I have blown so many mini accounts before finding a feel for the AUDUSD pair, I would also like to find other traders who trade the same pair, I am currently in a drawdown I have lost about 75% of my account. In the above mentioned books, I have realized that a realistic PLAN is your survival and mentality is way more important than just trading blindly.

Hi @Pasta

While it’s good to read about different strategies, it’s also important to pay attention to risk management. The fact that you’ve “blown so many mini accounts” and lost 75% of the money in your latest account is a sign you could be risking too large a percentage of your balance per trade. You may find this earlier discussion on the topic helpful: Is 1000$ a good starting balance for a newbie?

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[quote=“Pasta, post:1, topic:111774, full:true”]
I’ve find that I like triple screen trading by Dr. Elder but my question is CAN IT BE USED IN A TREND FOLLOWING SETUP.[/quote]

Of course. That’s its most useful application.

Here’s what Dr. Elder says about the triple screen methodology in his book Trading for a Living:

  • on page 235 – Triple Screen combines trend-following methods and counter-trend techniques. It analyzes all potential trades in several timeframes. Triple screen is more than a trading system; it is a method, a style of trading.

  • on page 237 – Triple Screen demands that you examine the long-term chart first. It allows you to trade only in the direction of the tide — the trend on the long-term chart. It uses the waves that go against the tide for entering positions. For example, daily declines create buying opportunities when the weekly trend is up. Daily rallies provide shorting opportunities when the weekly trend is down.

You might also want to read this post –

And you should look into Andy Perry’s 3 Ducks Trading System


I am thankful for your comments, so I have to stick to strict money management and follow my setup rules altogether with the rules of the Triple Screen Trading to be a Consistently Profitable Trader. I also like the Idea behind the Book ONE GOOD TRADE by Mike Bellafiore. It helps with the focus on the quality of a trade.

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