Hi,
First thanks to share this with us. I am newbie and of course i have question.
Sorry for my english it's not my mothertongue too
I i have well understand about put "Buy stop" or "Sell Stop" u take the High and Low then you add +1 or +2 and you add again the spreak of the brooker. So we have for example : High 1.2700 then BuyStop is 1.2704. Thats correct!
If i take the cable on 2006.11.02 High is 1.9107 so i bs at 1.9111 but next day bar reach 1.9116 then reverse. But in this reversal case if i put a SL this trade is looser. How i can do for dont enter this trade. Of course if i put TP at 5 pips it's ok. But if i dont do this i lose. Ok, in forex trading, losing is part of the game. When you dont want to lose, move your stoploss to breakeven, it may cut your profit short, but winning quality pips are more frequent.
I have see this case many times. Thats why i strongly suggest for 5pips profit for beginners Until you can master fundamentals, price range & actions, then only you can go for bigger pips. 5pips is GOOD!!
Sorry for my kitchen english... But thanks to help me to understand and win more than i lose. Dont worry, at least we can speak english. Yoda's english is worst, he took english 101 exam many times, still failed. When they check who taugh him, he said,"Jaja Binks!!"
Oxyd
Hi Orange !
Thirst of all thank you very much for introducing this simple method
You are very welcome!! Its nice to hear success stories!!
I've tried it last night with the following pairs :
EUR/USD, GBP/USD, AUD/USD and USD/CAD
Guess what happened.......
I have an account with oanda and traded one standard lot.
The long orders on EUR, GBP and AUD were all triggered.
The short order for USD/CAD also this morning.
Here are my profits :
USD/CAD : +15 Pips
EUR/USD : +21 Pips
GBP/USD : +28 Pips
AUD/USD : +13 Pips
In summary I made 77 Pips => 770 € during the night !!
Good!! Move Sl to beakeven points (say 10pips min) to safeguard profits.
I know that this results are not the normal case but its really amazing
LOL
By the way I didn't close the trades after 5 Pips but let them run with
a stop loss of 30 Pips.
5pips are for beginners to save guard them. Reap the pips by all means..
Do you ever have tested to set the support and resistance lines to
the open and close prices of the candles ?
Yes, somewhere in this thread also asked the same question. SRDC is pure basic, modified it to anyway that works for you, and make it your own system.
Is there any remarkable difference in profits ?
Usually more pips!
My result from testing this is :
"THROW AWAY ALL THIS INDICATORS !!"
"PRICE ACTION ROCKS !!"
LOL
Thanks a lot and hoping to read new things soon.....
With kind regards
Bernhard from cologne in germany
By the way I will forward test the method and will start at the beginning of
2007 with 5000 € to trade this method exclusively.
Use proper risk management control, subscribe to James16 in FF to learn more (i endorsed what i think works, even tho im not affiliate in any way)
For this I will open a new thread in January 2007.
). Ok, here it goes: I suspect that somewhere in the movie I must have missed something as you have been inspired by that movie to be so "pipastic".
)My result from testing this is :
"THROW AWAY ALL THIS INDICATORS !!"
"PRICE ACTION ROCKS !!"
To OrangeRoshan: I have appreciated you posts back then when the Sidus method started (I vividly remember you post about 500 Pips in one single day with that contest you where running against your trading buddies! Wow....I never got there...into "THE ZONE"....) Do you mind if I go through this method in a step-by-step way? (like an EA for human dummies....
1.) It's midnight (im in Europe GMT+1) the day is over. A new battle...ehm...day is ahead. I draw the horizontal line at the HIGH of the candle (upper wick) and draw a horizontal line at the LOW of the candle (lower wick). Yesterday (now it is Tuesday, Nov 7th,) the GBP/USD had its high at >> 1.9027 and low at >> 1.8946. Cool baby!!
2.) I enter TWO ORDERS (right? pls correct me where I'm wrong...). Number ONE: BUY STOP at: 1.9027 + 4 Pips Spread + 1 Pip donation to the council this gives me: 1.9032 as the trigger to enter the trade as a BUY/BULLISH trader). As jedi, the 1pips donation will be use for good only
Number TWO: SELL STOP at: 1.8946 + 4 Pips Spread + 1 Pip for Mr. JarJar to have a Beer, this gives me: 1.8951 where my trade will SELL.
(Here is my first question: is the last statement correct, do i ADD the pips to the LOW figure or subtract??? ) jarJar shouldnt drink too much. It should be subtract = 1.8941
3.) Enter Stop Loss and Take Profits for both Orders (the difficult part of the manual, at least for me): put for both 40-50 Pips Stop Loss and 5 Pips Take Profit (this is the Beginners version, others move the SL to Breakeven and trail the trade to higher highs or lower lows).The council agrees
4.) Sit and Wait. Or better watch: Star Wars Part 1 - Part 6 and memorize all the terms, so I can come back and understand Forex better.
That got spock at last, now I cant wait to see their 1st child!
Is that it? Just that? Bewarn of Month/weeks/year's high and lows. The price might be as reluctant as the Vulcan cousin to join the federation.
Thanks my friend. Let the "Forex Force" be with you (and me
Greetings,
Peter.
PS: Thanks for your generosity but foremost your enthusiasm, which many seem to have lost!
