Triple Screen Trading System - Dr. Alexander Elder trading system

Sriganeshh said....
anuj
just thinking..u created so many excel programs.
what's ur view on elder's trading system..is it not good?
like to know ur views
best
sri
*****************************
My notes:
Dr. Alexander Elder trading system - http://www.elder.com/
Do you mean the triple screen trading system?
I think it is one of the best and logical way to trade.I feel it is similar to other systems or setups.like multiple time frames theory and what Ilango mentioned today in this blog 5th of  5th in Elliott wave...
What is 5th of 5th in Elliott wave? If you take a closer look you will see that, there is a 5th wave in progress and there are a smaller degree of  a waves within that fith wave ,which is making 12345 wave pattern.
So the best place is to sell or buy is when markets are overbought or oversold in two time frames.I do this quite often.I check 15 min time frame and establish a bias (markets call table)and use Intraday (5 or 1 mins chart) to enter in direction of trend.

How do I do that?
Information that I have before the market opens (I know the direction of trend and I also know when it changes(SAR - Stop And Reverse )
Assuming we are in down trend(opposite in case of up trend).I try to establish a point where market will be overbought in 15 mins chart.Then I move to 5 minutes or 1 minutes to find overbought levels in that  time frame.
This point is the place which gives me best risk to reward in terms of 15 minutes chart and my  SAR (Stop And Reverse).So I enter shorts at that point
In simple words, look for a pullback (against the trend movement) in your trading time frame to get a good entry (better risk to reward ratio)

I hope it gives some new insights,for more read Dr Elder's book,Come into my trading room.I will discuss this in details with chart some other time
Good luck
Cheers

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GOLD AND CRUDE OIL FUTURES CALLS FOR 26 JANUARY 2010

COMMODITY CALLS FOR (25-26) JANUARY 2010

Market Calls Updates

Hello Traders,
I have started global market watch from today covering Japanese,Chinese,UK and US markets
I will be updating all the market calls at following times

US and UK - by 12 Noon (Indian standard time)
Commodities markets  - by 5 pm  (Indian standard time)
Asian Markets and Indian markets - between 5pm - midnight (Indian standard time)

I will try to update everyday,provided my internet services are available,which is quite reliable.
again the updates are provide to give every body a general sense of markets trends.
Please follow the following link to know how to use the market calls table
Thanks

WORLD MARKETS CALLS FOR 25 JANUARY 2010

How to use the market calls table

MARKET CALLS FOR 25 JANUARY 2010

Market calls performance -Analysis

Hi
Friday marked the end of first week of my blog,I have got immense support from visitors across the world (Thank you all for paying a visit and hope to see you/hear from you on regular basis)
By Friday i had posted 5 days of market calls and it has been very tough for me to do all this stuff(i will find some convenient way to do this ,please suggest something on how it can be done and i will also ask for your help)

Now coming back to main topic,I have posted how the market calls have performed for the week  , result are quite good as per my opinion,thats not because i have made good decisions but because market finally moved in a trend and this is a trend following system,so it worked and will always work under strong trends

How did i calculate the returns?
Since this was the first week ,I assumed that we enter the index/stocks on the first SAR breach which happened on Tuesday and in some case Wednesday(check it yourself)
Second assumption that i have made is that we closed the position on Friday EOD in order to calculate the profits/loss.
Third Assumption (the most dangerous one to assume!!!) is that we were able to act on SAR that was recommended.
Decimals have been rounded off

Now keeping the above points in mind if we calculate (provide I did it right,and please correct me if i am wrong for benefit of all) we get these returns which to me are excellent,but just check out how Tata steel performed,if you were trading as per levels mentioned you would have had a tough time.See how difficult Friday morning would have been for you if you were long in it (as it was going up till Thursday)It gapped down below the SAR and went straight down to 620 from around 650(Thursday's close approximately)...In calculation i have taken just the absolute values ,so how i calculated it ? 624.5 (fridays close) - 641.5 (thurs days market call SAR for longs) comes to 17 points profit !!!...But i doubt if anyone could have managed that in real trading.People generally wait for first 15-30 mins before acting on SAR...this one would have landed you in a mess if you did that

Rest results were good and it was easy to enter at SAR...But do check Tata steel to understand what risk you face while trading.All in all it was a good weekly performance and most of shorts will continue for Monday and another down day is expected (i will post market call for Monday by evening).

I need to warn you about how people show there performance.My brokerage company keep posting how well their calls perform.Stuff like...90 % accuracy ...if you invested 1 lakh it will be 4 lakh in 6 months if you followed our calls.Be very careful of such misleading information....ask for detail ...do your own maths...and see how practical the entries and exits would have been if you followed the calls as per your trading style

Anyways you should not follow  anybody's advice build your own system and to do it now ,you should check this link  if you have not done till now .

Good  Luck

PS....the way i have calculated the returns is perhaps the laziest way to trade ....and we still end up in profit!!!....and it takes 15 sec to put that trade .Returns can be much more if you can fine turn that and use intraday moves to enter/exit/add/reduce your positions(in short money management,keeping 'swing'and "sar' levels in mind)

Market Calls and how they performed

Blog Update

I will post the market calls for monday tomorrow....feeling tired and computer is giving problem as well
Hope you are using the market calls table...I have not calculated the returns but i think you must have made good profits this week in HDIL, Nifty, Bank Nifty and others too. Can some body calculate the returns just by taking the SAR values on the first trade and todays close(assuming we entered at SAR and exited at todays close)?...
This is one tough job...I manually enter data ...it gets calculated in excel...and then I check it with chart....then manually enter it to Excel again .. make a paint file the upload...its taking a lot of time (please check the data values carefully, if you have any doubts about values ...leave a comment...as data is entered manually there can be a typing mistake)

Can anybody suggest a less cumbersome way? to get data....problem with data is that we get freak trades in the first 5 mins ...that should be ignored.

Looking forward to your long association.

Regards
AJ

COMMODITY CALLS FOR (22 and Next trading day) JANUARY 2010

How to use the market calls table

Markets goes down,did you made the most of it ???

Market today went down quite sharply.But the international market were not showing the same momentum on the down side as the Indian markets .
Were you able to use this trending day in you favor? If you check the market calls table for the past few days that i have posted you can see that if you followed it with a plan you would be in good profit by now and possibly more to come in coming days
The most important thing that really matters is how disciplined you are in you approach and how meticulously you plan your trades(plan your trades and trade your plan)
Discipline and money management are most essential things to take care while trading.
So stop that search for the best indicator/leading indicator/price projection etc and concentrate on Stops and their management.If we survive we will get plenty of opportunity to trade  and be profitable don't lose that capital in your trading account

COMMODITY CALLS FOR 21-22 JANUARY 2010

How to use the market calls table

MARKET CALLS FOR 22 JANUARY 2010

How to use the market calls table

UPDATE - How to use the market calls table

hi
I have made certain changes in the post How to use the market calls table 
In market calls table instead of "Trend" i have now updated it to call 'Swing" and i have added a few ways in which you can use the table for intraday trades.
Cheers

COMMODITY CALLS FOR 20-21 JANUARY 2010

MARKET CALLS FOR 21 JANUARY 2010

Blog Update

hi,
I will be posting calls on world markets as well,maybe from tomorrow

will cover E mini s&p futures e -mini Nasdaq Futures,FTSE futures,Nikkei index levels,and ssec index

just collecting data and will start then

and in coming days i will also cover Currency pairs as well

Looking forward for every ones suggestions
Cheers

COMMODITY CALLS FOR 19 JANUARY 2010

MARKET CALLS FOR 20 JANUARY 2010

MARKET CALLS FOR 19 JANUARY 2010