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Attachments: SRDC Episode I
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SRDC Episode I

  • #301
  • Nov 12, 2006 1:03am Nov 12, 2006 1:03am
Quoting Narc
is there any reason why you don't take some trades on 8th and 10th nov?

Only reason was because neither my buystop or sellstop was activated thats all.
  • #302
  • Nov 12, 2006 1:30am Nov 12, 2006 1:30am
Ziggy, the system says that a limit buy and/or sell order should be placed. Is this what you are doing or are you waiting until the price is either close to the S or R before you decide whether to limit buy or sell.


Mark
  • #303
  • Edited 6:42am Nov 12, 2006 4:19am | Edited 6:42am
Quoting esi
Hi,
Dear orange roshan
It seems that method is very simple and interesting but I have a question
how we should draw trend line?from where to where?
I`m a newbie in forex and maybe my question to be very simple
excuse me about that
Regards
Ok, Trendline drawing is an art. There are many ways around it, and there is not 1 correct way, but beware, there are also many wrong ways.

In SRDC particularly, I drew (as the name apply) Support & resistance trendlines, which created a channel (parallel trendlines). This way, i can find out whether the pair will change trend (when it penetrate the trendline) and to see what the range of the pair (by calculating the channel distance) and to see where is the most probable price movement of the next candle (by dividing the channel into 2; the mid trend line).

Study this H1 EURUSD chart and May the force be with you!
Attached Image
Change Your Thinking. Change Your Life - JD
  • #304
  • Nov 12, 2006 4:43am Nov 12, 2006 4:43am
Quoting njfx
Hi OrangeRoshan Kenobi, Great idea, I tried the method with 5 pairs (added USD/CHF and USD/JPY) 5 for 5 successful trades.

Looks like we can adjust the # of pips to the currency pait, 5 works for all, good base for AUD/USD, 8-9 for USD/JPY, USD/CHF & EUR/USD and 10-12 for GBP/USD. This thought is based on average daily volatility.

Thanks for an approach worth persuing.The force is definitelly with us!


BTW did you play with Abdul Tatlomi, using the Alligator as a filter to avoid whipsaw? From what I have seen it is an effective filter. Why not, as long as it works!!

Happy pipping!
Yes, I applied a lot of filters to the previous system and eventually I settle with a more simple ones and married it with SRDC = Tiga Abdul SRDC Breakout method.

Messa less dizzy now...
Change Your Thinking. Change Your Life - JD
  • #305
  • Nov 12, 2006 4:50am Nov 12, 2006 4:50am
Quoting wan_grunge
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...
When the price is near to daily or weekly highs or lows. The price usually bounce erotically before 2 things happen: 1) penetrate, 2) Not penetrate.

This usually hit your stoploss even when the trend is in your favour EVENTUALLY. Explaination: Traders sentiment. So, beware, when in doubt, go call your cat, & spend the evening stroking HER. Just dont trade that day!

Meowwwwwww........... scratch, i will!!
Change Your Thinking. Change Your Life - JD
  • #306
  • Nov 12, 2006 4:50am Nov 12, 2006 4:50am
Quoting mbadrick
Ziggy, the system says that a limit buy and/or sell order should be placed. Is this what you are doing or are you waiting until the price is either close to the S or R before you decide whether to limit buy or sell.


Mark
I have been using a Limit+ TTO order. Ie: You place an order with a limit entry, it also place a SL and a TP order ( you set the levels). If either the SL or TP are activated the other side is closed.

Been working OK for about two weeks.
  • #307
  • Nov 12, 2006 4:58am Nov 12, 2006 4:58am
Quoting bapxyz
I have been using a Limit+ TTO order. Ie: You place an order with a limit entry, it also place a SL and a TP order ( you set the levels). If either the SL or TP are activated the other side is closed.

Been working OK for about two weeks.
Thanks for that bapxyz, that is what I have been doing, but what do you consider when deciding to either place a sell or a buy limit order - clossness to either S and R??(or do you place both)? I may be missing something here so please forgive me if I have.

Mark
  • #308
  • Nov 12, 2006 5:06am Nov 12, 2006 5:06am
Quoting 4rex
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
Of course, SRDC is a basic form. You can modified it as it may fit. Save it on the template and attach the save template on your post.

May the template be with us...
Change Your Thinking. Change Your Life - JD
  • #309
  • Nov 12, 2006 5:18am Nov 12, 2006 5:18am
Quoting mbadrick
Thanks for that bapxyz, that is what I have been doing, but what do you consider when deciding to either place a sell or a buy limit order - clossness to either S and R??(or do you place both)? I may be missing something here so please forgive me if I have.

Mark
mb I am a JAJA Binks. You are better to search back in the thread. Orange has wrote much about this subject.

Thanks Orange I am learning much.
  • #310
  • Nov 12, 2006 5:49am Nov 12, 2006 5:49am
Quoting mbadrick
Thanks for that bapxyz, that is what I have been doing, but what do you consider when deciding to either place a sell or a buy limit order - clossness to either S and R??(or do you place both)? I may be missing something here so please forgive me if I have.

Mark
Orange, can you enlighten me. I have searced back through the forum but have found nothing which answers my query.

Mark
  • #311
  • Nov 12, 2006 6:22am Nov 12, 2006 6:22am
Quoting PipBird
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
Thank you for your kind words. Messa wants to help future jedi...
Change Your Thinking. Change Your Life - JD
  • #312
  • Nov 12, 2006 6:32am Nov 12, 2006 6:32am
Quoting billbss
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. hehehe... go more than 5pips then....

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.
LOL..... yes, i agree with you jaja.... lol
Change Your Thinking. Change Your Life - JD
  • #313
  • Nov 12, 2006 6:38am Nov 12, 2006 6:38am
Quoting Ziggy43
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.
Pipastic!! You understood the meaning of quality pips. Use price analysis and price range using channel trand lines, this way, you can learn to harvest more pips!!

Learn, you must. success, you can!!
Change Your Thinking. Change Your Life - JD
  • #314
  • Nov 12, 2006 7:21am Nov 12, 2006 7:21am
Hello,

Take a look at my chart and tell me what you think. Maybe you like it. It includes:

FX_Sniper's LSMA- I use it to visually see trends

Fractals - It shows me candles that are acting as pin bars

FiboPiv_v2- It can be used for my entries using OrangeRoshan's SDRC method

Please if you have questions and may not the answer but someone else might.


Enjoy
Attached Image
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  • #315
  • Nov 12, 2006 7:34am Nov 12, 2006 7:34am
Quoting mbadrick
Ziggy, the system says that a limit buy and/or sell order should be placed. Is this what you are doing or are you waiting until the price is either close to the S or R before you decide whether to limit buy or sell.


Mark

On metatrade a buy limit is for price reversal while a buy stop is when the price penatrates and keep going. I place my stops when the price is near on either side.
  • #316
  • Nov 12, 2006 7:36am Nov 12, 2006 7:36am
Quoting OrangeRoshan
Pipastic!! You understood the meaning of quality pips. Use price analysis and price range using channel trand lines, this way, you can learn to harvest more pips!!

Learn, you must. success, you can!!



I need to get the trend line drawing down, but learn I will.
  • #317
  • Nov 12, 2006 8:19am Nov 12, 2006 8:19am
At the end of the daily bar are you placing orders to go long and short? For example based on you analysis if the trend is in the up postions are you still placing orders on both sides of the candle or just placing an order to go long? Hope this makes sense.
  • #318
  • Nov 12, 2006 9:42am Nov 12, 2006 9:42am
Quoting 4rex
Hello,

Take a look at my chart and tell me what you think. Maybe you like it. It includes:

FX_Sniper's LSMA- I use it to visually see trends

Fractals - It shows me candles that are acting as pin bars

FiboPiv_v2- It can be used for my entries using OrangeRoshan's SDRC method

Please if you have questions and may not the answer but someone else might.


Enjoy

Can you point to where we might find those indicators versions you are using so we can experement with them?

Thanks!
  • #319
  • Nov 12, 2006 9:18pm Nov 12, 2006 9:18pm
Njfx,


The fractal is an indicator provided by the MT4 on my server and probably yours. The other two I downloaded from this forum. Sorry, but I don't know how to put them on this post. Maybe someone else can show me how. You can do a forum search and you should be able to find the posts where you can download them yourself. Hope this helps

Thanks
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  • #320
  • Nov 12, 2006 9:39pm Nov 12, 2006 9:39pm
Quoting OrangeRoshan
Yupz, I have an aperantice who changed the rule and trade using lower time frame. The result: Disasterous! Daily candles gives a save Margin of pips especially during news. When it penetrates, it PENETRATES like a jedi saber!

Try this: 5 pips only for each major pairs. The 3 monkeys I mentioned in my doc, will give u 15pips total of quality pips!

Fomula: 5pips + spread + 1pip: SL Zero (or 25 for you maybe, hehehee)

Put pending orders on a finish daily candle (like when we straddle). Goto sleep and see your account gain weight the next day!

All the best lol
OrangeRoshan,

I'm just beginning reading this thread, but I'm wondering how the above method is working for you. Do you really set take profit of 5 and stop loss of -25? Surely you will get a stop loss every now and then, and you would have to have 6 wins to every one loss to make any real pips. Are you indeed getting these?

Just so I understand, you place a limit order to go long at resistance (top of the closed candle) and you place your take profit at + 5 + spread + 1.

You also place a limit order to go short at support (bottom of closed candle) and you place your take profit at +5 + 1.

Is this all correct?

Thank you.

Mike
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