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SRDC Episode I

  • #321
  • Nov 13, 2006 3:13am Nov 13, 2006 3:13am
Quoting mikejody
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? LOL, have you tried it?

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? NOPE. Stop order, limit order is for reversal at least in MT4

Thank you.

Mike
welcome. May the force be with u
Change Your Thinking. Change Your Life - JD
  • #322
  • Nov 13, 2006 6:31am Nov 13, 2006 6:31am
OrangeR,

Please clarify something for me..... I use MBtrading for my entries and what I using the SRDC method by putting STOP/TTO both ways. Basically it will get me in Long or short when it hits my price in addition in includes an upper trigger/lower trigger that serve as Take profits and Stop Losses. So it is like a straddle. Does this conform to the OrangeRoshan's SRDC Method?

Thank You
All 4 1 and 1 4 All
  • #323
  • Nov 13, 2006 7:21am Nov 13, 2006 7:21am
Quoting OrangeRoshan
welcome. May the force be with u
No, I have not tried it, but I backtested it and had 2 losers in 10 winners, with stop loss at 35 that makes me down $35.00. I will backtest further though.

With Oanda we only have "market orders" and "limit orders". A market order fills you immediately at the present price, a limit order enters when price reaches your input price. I assume we use limit orders.

Thanks again OrangeRoshan.
  • #324
  • Nov 13, 2006 9:17am Nov 13, 2006 9:17am
Quoting 4rex
OrangeR,

Please clarify something for me..... I use MBtrading for my entries and what I using the SRDC method by putting STOP/TTO both ways. Basically it will get me in Long or short when it hits my price in addition in includes an upper trigger/lower trigger that serve as Take profits and Stop Losses. So it is like a straddle. Does this conform to the OrangeRoshan's SRDC Method?

Thank You
I think so.
29 pips today.
Don't forget to cancel your orders going the other way.
Time for a nap.
  • #325
  • Nov 13, 2006 10:12am Nov 13, 2006 10:12am
Total 58 pips today using this method, Traded cable, euro, and ausdollar.

Respect to Orange'Yoda'Roshan.

May the +pips be with us
  • #326
  • Nov 13, 2006 10:23am Nov 13, 2006 10:23am
Quoting razif
Total 58 pips today using this method, Traded cable, euro, and ausdollar.

Respect to Orange'Yoda'Roshan.

May the +pips be with us
Razif,

Congratulations. Can you tell us what stop loss and/or take profit you are using?

I've somehow got to try to make this work without monitoring the charts as I'm in the air so much during the day.

Thank you.
  • #327
  • Nov 13, 2006 10:31am Nov 13, 2006 10:31am
Sir. Bob Geldof song: I DONT LIKE MONDAY (Banana Republic)

I don't like monday
tell me why (coz i dont trade forex)

I dont like monday
tell me why (coz i dont have the right attitude)

I dont like monday
Ooooooooo........ (coz i dont like 5pips but like -50pips)

Below are the musical notes for this song.... hope you enjoy it!!
Attached Image
Change Your Thinking. Change Your Life - JD
  • #328
  • Nov 13, 2006 10:39am Nov 13, 2006 10:39am
Firstly i will put take profit at 5 pips, so if i have to go anywhere, at least 90% chances that it will hit my 5 pips TP. If i'm in front of my pc, i will close the position manually.

I put the stop loss about -35 pips. Once my position over +10 (if i'm in front of my pc) i'll change the stop loss to +1 pip.

Apologise for my english..

Quoting mikejody
Razif,

Congratulations. Can you tell us what stop loss and/or take profit you are using?

I've somehow got to try to make this work without monitoring the charts as I'm in the air so much during the day.

Thank you.
  • #329
  • Nov 13, 2006 10:53am Nov 13, 2006 10:53am
Quoting razif
Firstly i will put take profit at 5 pips, so if i have to go anywhere, at least 90% chances that it will hit my 5 pips TP. If i'm in front of my pc, i will close the position manually.

I put the stop loss about -35 pips. Once my position over +10 (if i'm in front of my pc) i'll change the stop loss to +1 pip.

Apologise for my english..
Agree with the defensive trading part. English fine, Improve u will!!

Tahniah!!
Change Your Thinking. Change Your Life - JD
  • #330
  • Nov 13, 2006 12:12pm Nov 13, 2006 12:12pm
Hi Jedis & Padawan,

Here are some examples of how I take profits, just incase some of you hated the 5pips bit!!

But, beware. More training you must endure...
Attached Image
Change Your Thinking. Change Your Life - JD
  • #331
  • Nov 13, 2006 12:26pm Nov 13, 2006 12:26pm
Hi folks !

Regarding Oranges' method I have a question regarding the daily candles
at the Oanda trading platform.

I've noticed, that the new daily candle is not created at 24:00 !!
( My Timezone is GMT +1 ).

Can anyone give me a hint ??

Greetings and happy Pippin..

Bernhard
  • #332
  • Nov 13, 2006 12:56pm Nov 13, 2006 12:56pm
I would suggest to open IBFX demo and use it for charting and trade on your oanda.

I hope that Pips!
Change Your Thinking. Change Your Life - JD
  • #333
  • Nov 13, 2006 1:58pm Nov 13, 2006 1:58pm
Thanks to you master yodaRoshan


Want to be your apprentice, it's my destiny

Quoting OrangeRoshan
Agree with the defensive trading part. English fine, Improve u will!!

Tahniah!!
  • #334
  • Edited 10:34pm Nov 13, 2006 4:23pm | Edited 10:34pm
eur/usd buy stop @ 1.2854 t/p @ 1.2859 target hit = +5 pips

eur/usd sell stop @ 1.2840 t/p @ 1.2825 closed it at 1.2830 = +10 pips

price of course went lower but 10 pips was okay for me.

gbp/usd buy stop @ 1.9124 t/p @ 1.9129 target hit = +5 pips

gbp/usd sell stop @ 1.9106 t/p @ 1.9096 target hit = +10 pips

aud/usd buy stop @ .7674 t/p @ .7679 target not hit

closed price @ .7655 = -19 pips ( I was sleep when this happened)

aud/usd sell stop @ .7652 t/p @ .7647 target hit = +5 pips

Today's Total = +16 pips

Even though I had 1 losing trade I still I had a good trading day. I could have killed that trade earlier, but decide to ride it out. Once it got near my sell stop I killed the buy and let the sell take over. I could've let the aud/usd sell trade ride longer but I was kicked out before I decided to increase my t/p.

Orange, hey man thanks again for this simple system.
  • #335
  • Nov 13, 2006 4:40pm Nov 13, 2006 4:40pm
Here is proof that the orange has juice!

usd/jpy................+11pips
usd/chf.................+11
eur/usd.................+11
gbp/usd..................+11
_______________
+44 pips (darn! too bad is a demo!)
Attached File(s)
File Type: doc History of trades.doc   22 KB | 682 downloads
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  • #336
  • Nov 13, 2006 6:35pm Nov 13, 2006 6:35pm
11 pips x 2 lot = 22 pips YaY

btw anyone running on fxcm?
  • #337
  • Nov 13, 2006 6:53pm Nov 13, 2006 6:53pm
Quoting OrangeRoshan
Hi Jedis & Padawan,

Here are some examples of how I take profits, just incase some of you hated the 5pips bit!!

But, beware. More training you must endure...

Do any one know... how to do the channel trend?
  • #338
  • Nov 13, 2006 8:46pm Nov 13, 2006 8:46pm
Quoting Ziggy43
eur/usd buy stop @ 1.2854 t/p @ 1.2589 target hit = +5 pips

eur/usd sell stop @ 1.2840 t/p @ 1.2825 closed it at 1.2830 = +10 pips

price of course went lower but 10 pips was okay for me.

gbp/usd buy stop @ 1.9124 t/p @ 1.9129 target hit = +5 pips

gbp/usd sell stop @ 1.9106 t/p @ 1.9096 target hit = +10 pips

aud/usd buy stop @ .7674 t/p @ .7679 target not hit

closed price @ .7655 = -19 pips ( I was sleep when this happened)

aud/usd sell stop @ .7652 t/p @ .7647 target hit = +5 pips

Today's Total = +16 pips

Even though I had 1 losing trade I still I had a good trading day. I could have killed that trade earlier, but decide to ride it out. Once it got near my sell stop I killed the buy and let the sell take over. I could've let the aud/usd sell trade ride longer but I was kicked out before I decided to increase my t/p.

Orange, hey man thanks again for this simple system.
Hey,

Looking at your numbers they aren't even close to where my candles are on IBFX. Are you able to post charts.

Cheers

Alex
  • #339
  • Nov 13, 2006 8:48pm Nov 13, 2006 8:48pm
Quoting OrangeRoshan
Hi Jedis & Padawan,

Here are some examples of how I take profits, just incase some of you hated the 5pips bit!!

But, beware. More training you must endure...
What timeframe is this Orange?
  • #340
  • Nov 13, 2006 8:53pm Nov 13, 2006 8:53pm
Quoting PipBird
What timeframe is this Orange?
GMT 00:00

Have a pipping day
Change Your Thinking. Change Your Life - JD
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