Does Triple Screen Trading Sysrem work?

Trading Systems
1

Has anyone here tried the triple screen trading system by Dr. Alexander Elder?

I tird using the system as follows:

SCREEN 1: MACD and WMA 13. (Determining primary trend)

SCREEN 2 Williams%R 9 period, trade to be initiated when it crosses -50 and closes above or below it. (I tried stochastics, too many whipsaws)

SCREEN 3: I don’t use the third screen much, it’s just there.

I’m not usre how to set stops or targets, eventhough I prefer a 2:! reward to risk.

The timeframes I tested were as follows

30min/5min/1min (for currency and stock intra-day)
4hr/30min/5min (for commodities)
Weekly/Daily/1hr (swing trading stocks)

Any tweaks recommended? How was your experiece?

2

OK, I HAVE A QUESTION…

RE THIS…

why in gods name would you use 1 monitor for just MACD and WMA ?
waste of space in my opinion

i have 2 computers that i use for trading

1 has 6 monitors in a 3 across by 2 down configuration
and the other has 2 Monitors one below the other configuration

i have 8 Monitors
the PC with 2 Monitors is used for trading and it would be a long story to explain how many charts of correlating pairs i have and how many indicators on each and for what reason

the other PC, i only really use 5 monitors most of the time, the last one is there, it does get used but not always. it’s good to have though
the screens are used for calenders, Monitoring, news etc a lot of stuff
but i never have 1 thing on 1 monitor, i think that silly

i’m all for mulit monitor trading, but when you get into Multi Monitor (in my opinion) Why waste it,
Even if you have 3 Monitors which i believe is kind of the minimum , use the space effectively

i essentially have 13 charts over 2 Monitors and indicators within each chart, THAT’S ONLY 2 MONITORS

you have 3 screens you don’t use the 3rd
so… 2 screens
and you have 3 indicators… why ?
all this can fit on 1 monitor if you ask me

1 Like
3

By ‘triple screen’, I don’t mean ‘triple monitor’. I only have one monitor, I am talking about charts here, using 3 different timeframe charts for analysis and trading.

4

Hello, RandomPotato

Here are some thoughts on Triple Screen Trading from one of my posts several months ago.

Pure triple screen methodology does not involve indicators, or any other trading techniques.

Elder’s triple screen methodology is actually pure triple screen with some indicators layered onto it. I have not used triple screen in the form described by Elder, because I’m not fond of his indicators. But, the pure methodology is sound, and I recommend it. It can be used in conjunction with almost any trading style except scalping – which is much too fast for multi-screen manipulations.

1 Like
5

oh ok
well. you shouldn’t say SCREEN because saying it implies that you are talking about Multi Monitors.
a Chart is Not a Screen
A timeframe is not a screen
it’s confusing when you call it a screen

but ok, i understand you now… cool

1 Like
6

Lol what an amateur. You’re suppose to know simple trading analogies don’t hate on the person asking!

7

I research over this system 17 years ago. Forget about it!

Nowadays, the level of sophistacion is superior.

8

Actually I think Elder in some book of his if I recall correctly “screen” is meant as filter whereby it must pass the criteria across multiple time frames.

9

All strategies and systems probably work to an extent ,though more influence is the traders psychology and understanding/ experiencing of different market conditions