SRDC Episode I

3) Watch the monthly / weekly highs and lows. I would avoid a trade when it is near to the H&L. Price might reverse against your favour before it hits your takeprofit.


OrangeRoshan ... can you explain on this.. you write this on your documentation about the method..


Thanks...

This chart should help you wan grunge.

Notice how the weekly high/low act as strong rest/support.

GBP/USD 10/30-10/31/06

jarroo... may I know do you hava indi to indentify the weekly high low.. or you did it manually..

Did them manually. Current week's and previous week's High/Low. Just be aware of where they are to the daily High/low.

i use this daily high/low


Jim

Hi,

I am a little confused about the timing of placing trades using this SRDC method.
To trade the following pairs can someone please tell me the ideal GMT time to place the trades for each pair?

GBPUSD

EURUSD

AUSUSD

USACAD

Hello Orange,

I used this indicator (FiboPiv_v2) instead of H/L for S/R and it gives me the a very similar entry trigger. If this is a feasible alternative? If yes, then I can save it into a template and just added to each pair. What do you think?
How would I attach the indicator in case that others want to experiment with it?



Thank You

Good start for me. Manage to get 24pips fr EUR/USD on my 1st day of trade with ur SRDC method. Hopefully it will stay that way in the coming days.

Thanks for sharing the idea Orange.

Not sure about GMT time. But base on Singapore time, its at 6am.

Singapore GMT time as below...

http://www.timeanddate.com/worldclock/city.html?n=236

Hope this help!

Stonie,
So I can place a trade on all 4 pairs at the same time?
I though that each pair had a different end of day time.

So far i only notice EUR/USD & GBP/USD at 6am (SG Time). Not sure of the other 2. Will take note of the other 2 in the future.

The Chinese announcement caused all the pairs to move at the same time. News like that will override any normal timing,

just to clear things up. the time daily depends on what time your broker use. for example, Interbankfx use GMT for their server. but it may be different for other broker. you can asked your broker regarding the timezone.

Hey Orange:

I applaud your enthusiasm, patience, good nature, humor and kind heart. It comes through loud and clear in your helpful posts and clear answers to all questions. Great Job Orange

Firstly, I would like to thank you for sharing your system with us Orange, it has great potential. I assume we set up S and R on Fridays Day candle for the start of trade on Sunday/Monday, but is there anything else you look for before the start of the weeks trading?

Mark

[quote=Narc]sorry if what i post above confuse you guys. It's not the EA. I'm backtesting SRDC method in Sept 2006.

It's easy to manually backtest the method (not EA). just Open te Strategy Tester, and tick the Visual Mode, Model should be Every Tick, use Daily timeframe, and just use any EA (select 0 Lot so that no trades be open), and just click start. Adjust the speed to slow down the movement of price, and pause it to draw lines/indicators. Once again, I'm not testing an EA, but am backtesting SRDC method. sorry if my post is confusing. I was refering that if the EA is working properly, then it should get a result nearly the same with my manually open trade. If it's not getting the same result, but the settings are all the same, then there's something wrong with the EA.

Thanks Narc. I did not know about this. Very interesting and usefull. Sure does chew up a lot of CP time though.
Have a great day

I just manually tested this system on EUR/USD for the last 27 trading days- excluding NFP days.
I left out the NFP days due to the possibility of not getting filled, huge spreads and stops not being honored.

I assumed a 2 pip spread, a 5 pip TP and a 20 pip SL.

25 winning days @ 5 pips = + 125
3 losing days @ 20 pips= - 60
(one day had both a long and short winner)

Total= +65

That is an average profit of 2.3 pips per trade.

Admittedly. this is a small sample, but that is too small a margin for me to want to trade this system.

I doubt that in actual practice there would have been any profit at all. I didn't (and couldn't) take into account increased spreads and non-fills on news days other than NFP.

With a 20 pip SL, going for any more than a 5 pip TP would have resulted in worse results.

Hi All,

Can anyone send me an email or post link on back history (2004, 2005 to current) of the EURJPY. I am backtesting EA. I am very interesting in this Orange method. Looks promising.

What are the correct settings and the time frame for SRDC EA.

Thanks

I started testing this system Tuesday and so far I have 9 wining trades to end the week. I have no losing trades as of yet and I'm only going for the min. t/p which is 5 pips, but I did do just one with 10 pips and was able to get.

11/7/06
eur/usd: buystop @1.2736 t/p @1.2741 hit target= +5 pips
aud/usd: buystop @ .7725 t/p @ .7730 hit target = +5 pips
gbp/usd: buystop @ 1.9033 t/p @1.9038 hit target = +5 pips

11/8/06
aud/usd: sellstop @.7695 t/p @.7685 hit target = +10 pips
no trades for gbp and eur.

11/9/06
gbp/usd: sellstop @1.9003 t/p @ 1.8998 hit target = +5 pips
aud/usd: sellstop @ .7676 t/p @ .7668 hit target = +5 pips
eur/usd: buystop @ 1.2810 t/p @ 1.2815 hit target = +5 pips

11/10/06
gbp/usd: buystop @ 1.90.90 t/p @ 1.9095 hit target = +5 pips
eur/usd: buystop @ 1.2851 t/p @ 1.2856 hit target = +5 pips
no trade for aud/usd

week total : 50 pips

I could've racked in more, but Im just sticking with the 5 pips min. for now. I made do more later as I feel more comfortable.

is there any reason why you don't take some trades on 8th and 10th nov?