Change Your Thinking. Change Your Life - JD
- | Joined Jan 2006 | Status: Member | 105 Posts
Dave
If you can't swim with the sharks
stay out of the water!
SRDC Episode I 1,331 replies
SRDC II Channel of the day 74 replies
Discussion on Indicators pertaining SRDC 62 replies
SRDC II Journal for All 11 replies
SRDC II Charts posting and discussion pertaining to it 37 replies
Quoting Lou GDislikedA mass Thank You to all who replied to my request for LRC info (and to those who may yet reply) - I'm too lazy to answer all my PMs individuallyIgnored
Quoting OrangeRoshanDislikedAs far as I can remember since I joined FF, Many here are Indicator addicts. Not many bothered to learn price action or channel trading. Then when I started this thread, many think its too difficult to follow. Well the fact is, its actually trading in this rawest form.
Anyone who want to learn trading, must actually first learn from basics, which is Support, Resistence and of course trend lines. Then the channels, Fibo and so on... only then, technical indicators like the many used and programmed to work with many excellent methods. When its learned the other way round, it makes price action trading a boring and a sillest thing to do.
What I notice, many, even in this thread, dont know how to do trendlines. Its like driving automatic gear car all their lives, then when asked to drive manual shift gear, they said,"Its too difficult". Hence I opted the Semi-automatic alternatives, like SHi and LRC.
Another reason why I opted to use SHi or LRC, semi automatic trendline drawer, is for the purpose of EA use.
Channel trading when mastered (actually very easy and i've never seen any successful traders who doesnt know these basics. But I saw traders who made money not knowing these basics, and after a while dissapear. Just like rockets, it blast-off faster than aeroplanes, but also fast dissapearing into the atmosphere), will definitelly be a proper skill and an advantage. Then learning other technical indicators, will compliment and confirm entry and exits. Not the other way round.
This is the reason, why I taught SRDC in stages, slowly and steadily. In the hope of showing newbies the proper (or the forgotten) art of trading.
Each stage is not a complete system, therefore it is foolish to assume it doesnt work. But rather a tutorial to a reach a proper thinking and discipline into trading with the basics. When mastered, and adde with indicators, it WILL be very powerful. Eg: Basiclly, everyone knows, when the cloud is black and wind blows faster than usual, its a basic indicator that a rain might start. Then you chaeck you indicator, which is the barometer.... TV and Radio, to confirm it. Q: How many times TV and Radio got it wrong? Basics are important and its simple.
Anyway, going back to the channel. There is no way a trade can be won 100%. A breakaway from channel is a sign of changing trend. A loss might be incured, but profits have been won many times over during when the trend is developed and followed. Surely that is a clear strong WIN/LOSS ratio. It is not a flawed, its part of trading, in fact a vital information that can be use to make more profits (more in Level 4, codename The Impeccables).
When losses are incurred during a trending market, within a channel, many times over, thats a sign to show, that the channel is working but the traders is NOT! It goes back to understanding and Discipline.
This is the reason why many traders, switched methods because they think it doesnt suit them as it doesnt work. The method work, Its them that cant make it work, because they still dont know how to use it! Instead of leraning more, people gave up and searched for the holy grail. There is no holy Grail in methods. The holy Grail is betewen your ears!! Attitude and discipline.
Now, this thread is gear towards, people learning step by step. Not gear towards having a succesful trading experience in 2 weeks after trying it and make tons of money after that. Even after level 4 is revealed, I bet many will still cannot make pips.
When you are a pilot, would you skip lessons? Like reading instruments?
All lessons must me mastered, then only a good pilot is born.
Like here, we are in the middle of a many lessons. Losses means two things, (1) Part of trading, (2) Traders discipline and understanding. Stay disciplined, yes its hard, thats why only 1% of the traders learning from this thread will be a pro. It could be you.
Fear lead to misery and misery will lead to the dark force.Ignored
Quoting accreteDislikedWas there a technical reason that "TeamSpeak" was used that ONLY allows for voice? Rather than PalTalk (also free and excellent) that allows users to type in their questions/responses? I was in several TS rooms, including the OR room and many of them had technical difficulties with echo and such. Things that i never ran into during the past 4 years of using PalTalk.
Just wondering, don't want to rock the boat, i'm just one of those that like options in communication, like voice AND text.
but them maybe i'm old fashioned. grin
ThomIgnored
Quoting Lou GDislikedIt seems to me that, no matter what type of valid channel (whether it is based on past highs and lows like SHI or best-fit lines like LRC) there will always come a time when the current data blows out through the top or bottom. These times, as we all know, are called reversals and cannot be predicted with certainty. If one uses SHI (which keeps on re-drawing thoughout the day) it's like shooting at a moving target - much harder to hit. If we draw a channel at midnight for the following day the market may change direction and leave the channel altogether.
Since all channel methods are similarly flawed, I hope we can all agree on one usable method (preferably one that can be created by an indicator) - we still have some distance to travel with SRDC 3 & 4 still to be revealed.
I don't like it any more than anyone else does but there is no Holy Grail of channels...Ignored
Quoting accreteDislikedWas there a technical reason that "TeamSpeak" was used that ONLY allows for voice? Rather than PalTalk (also free and excellent) that allows users to type in their questions/responses? I was in several TS rooms, including the OR room and many of them had technical difficulties with echo and such. Things that i never ran into during the past 4 years of using PalTalk.
Just wondering, don't want to rock the boat, i'm just one of those that like options in communication, like voice AND text.
but them maybe i'm old fashioned. grin
ThomIgnored
Quoting OrangeRoshanDislikedWhat happens when a PRO, collaborate with team of Excellent coders. He give away his method and a team of coders code and test the EA relentlessly together?
A Very powerful EA, one that could make you a very rich man.
Btw, I already have 3 EAs that has run for more than 1 yr, performing as expected. Who say ea doesnt work!!Ignored
Quoting OrangeRoshanDislikedAnyone like to do an indicator that:
Calculates the Pips breakout on Support & Resistance (SRDC I)?
The Percentage it hits X pips. X entered at the parameter.
It will say something like this:
From: 00/00/0000 until today
Support: 000Pips, 20pips @ 98%
Resistance: 000Pips, 20pips @ 68%
A jedily thank you in Advance.Ignored
Quoting OrangeRoshanDislikedhe is one of the people I emailed, but not replying. I just cant be bothered now. Not my loss, but his. Sorry.
Thanks for the Info man..Ignored
Quoting blewmoonDislikedJust to thank Master OrangeRoshan for his patience to keep this thread alive with his great trading experience. I have been a manual trader for nearly 8 years, but it is my belief that an EA can do nearly everything that we can AND work 24 hours, which I can't.
Unfortunately, I cannot do much with programming since having a stroke a few years ago, but I can still trade [one handed!! ].
I look forward to more insights of the Master's knowledge and prossibly 'we' [meaning goods guys like Lou G etc] can get the EA working.
All the best to OrangeRoshan and the fellow traders/Jedi Knights and may the force be with you.Ignored
Quoting accreteDislikedWas there a technical reason that "TeamSpeak" was used that ONLY allows for voice? Rather than PalTalk (also free and excellent) that allows users to type in their questions/responses? I was in several TS rooms, including the OR room and many of them had technical difficulties with echo and such. Things that i never ran into during the past 4 years of using PalTalk.
Just wondering, don't want to rock the boat, i'm just one of those that like options in communication, like voice AND text.
but them maybe i'm old fashioned. grin
ThomIgnored
Quoting ahaDislikedWill add other 2 paramters Y and Z pips as entry and SL. Check the percentage that it breaks the SR Y pips but withdraw back Z pips inside the daily range before it hits X target.
ahaIgnored
Quoting blewmoonDislikedJust to thank Master OrangeRoshan for his patience to keep this thread alive with his great trading experience. I have been a manual trader for nearly 8 years, but it is my belief that an EA can do nearly everything that we can AND work 24 hours, which I can't.
Unfortunately, I cannot do much with programming since having a stroke a few years ago, but I can still trade [one handed!! ].
I look forward to more insights of the Master's knowledge and prossibly 'we' [meaning goods guys like Lou G etc] can get the EA working.
All the best to OrangeRoshan and the fellow traders/Jedi Knights and may the force be with you.Ignored
Quoting CodersGuruDislikedI'm so sorry If I didn't reply your email!
And sure I'll loss! a friend or a client or both!
I'm sorry again!Ignored