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Attachments: SRDC Episode I
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SRDC Episode I

  • #421
  • Nov 16, 2006 1:34pm Nov 16, 2006 1:34pm
Quoting pipraker
It really does rake in the pips.
Look at 11/10 and 11/15. Wat would you do?
Change Your Thinking. Change Your Life - JD
  • #422
  • Nov 16, 2006 1:35pm Nov 16, 2006 1:35pm
As you can see, few if any false entries.
Attached Image
THE GAME NEVER ENDS.
  • #423
  • Nov 16, 2006 1:38pm Nov 16, 2006 1:38pm
Quoting OrangeRoshan
Yes thats true, but what happens when it is a reversal?

Level 2 has a method of entering early, safer. Nethertheless, yes you can do that too... when it work 4u.
Not sure what you mean by reversal.

Can't the same thing happen to you entering at the high/low?

What is the Level 2 you mentioned?
THE GAME NEVER ENDS.
  • #424
  • Nov 16, 2006 1:39pm Nov 16, 2006 1:39pm
Quoting OrangeRoshan
Look at 11/10 and 11/15. Wat would you do?
What pair are you referring to?
THE GAME NEVER ENDS.
  • #425
  • Nov 16, 2006 1:40pm Nov 16, 2006 1:40pm
Quoting pipraker
As you can see, few if any false entries.
I remember one Padawan did that and was also profitable. Its worth looking into... ill ask him....
Change Your Thinking. Change Your Life - JD
  • #426
  • Nov 16, 2006 1:44pm Nov 16, 2006 1:44pm
If the daily candle is green, then you look for a long entry and you take the first entry because that may be the only one that pays.

If the daily candle is red then you look for a short entry and you take the first entry because that may be the only one that pays.

You can look at the 60 minute chart to see the momentum building.

And you can use the top/bottom prices to trade the news.

That's how I rake in the pips.
THE GAME NEVER ENDS.
  • #427
  • Nov 16, 2006 1:46pm Nov 16, 2006 1:46pm
Quoting pipraker
As you can see, few if any false entries.
Hey,

So would you straddle the close price of previous daily candle with a buy and sell say 5 pips from close price?

Alex
  • #428
  • Nov 16, 2006 2:32pm Nov 16, 2006 2:32pm
Found an end-of-day bug in the previous version - this one should be good.
Attached File(s)
File Type: mq4 #SRDC_Indicator.mq4   3 KB | 807 downloads
Old Benjamin was right
  • #429
  • Nov 16, 2006 2:36pm Nov 16, 2006 2:36pm
Quoting AlexFX
Hey,

So would you straddle the close price of previous daily candle with a buy and sell say 5 pips from close price?

Alex
That's not how I do it.

If the daily candle is green, you go long.

If the daily candle is red, you go short.

You look to go short at the bottom and long at the top.

Now, if you want scalp, you can trade the open cross of the new candle.
That will work too. But that's a different strategy.

By the way, OrangeRoshan, I didn't mean step on your toes. These two methods are practically identical. I just don't like to leave pips lying on the chart. Might as well rake them into my pile. Know what I mean?

In fact, there may be a pattern here... depending on the values of High - Top and Bottom - Low, that might determine if you wait for the high to enter or enter at the candle top.

For instance if the value is 10 or less, you may wait for the high but if the value is > 10, you enter at the top... just thinking out loud... would have to run statistics.

What are your thought's Orange?
THE GAME NEVER ENDS.
  • #430
  • Nov 16, 2006 2:38pm Nov 16, 2006 2:38pm
Quoting Lou G
Found an end-of-day bug in the previous version - this one should be good.
This code looks similiar to eSignal.

Do you have documentation?
THE GAME NEVER ENDS.
  • #431
  • Nov 16, 2006 3:36pm Nov 16, 2006 3:36pm
SRDC indicator is still not correct. I will fix it as soon as I have more time. Sorry for any inconvenience.
Old Benjamin was right
  • #432
  • Nov 16, 2006 4:18pm Nov 16, 2006 4:18pm
Quoting pipraker
That's not how I do it.

If the daily candle is green, you go long.

If the daily candle is red, you go short.

You look to go short at the bottom and long at the top.

Now, if you want scalp, you can trade the open cross of the new candle.
That will work too. But that's a different strategy.

By the way, OrangeRoshan, I didn't mean step on your toes. These two methods are practically identical. I just don't like to leave pips lying on the chart. Might as well rake them into my pile. Know what I mean?

In fact, there may be a pattern here... depending on the values of High - Top and Bottom - Low, that might determine if you wait for the high to enter or enter at the candle top.

For instance if the value is 10 or less, you may wait for the high but if the value is > 10, you enter at the top... just thinking out loud... would have to run statistics.

What are your thought's Orange?
Hey,

You say go long on green candle at the top and short on red candle at the bottom. Is the top the open/close or the high and is the bottom the open/close or the low. If you look at some candles, especially when there is consolidation the new candles direction can be very unpredictable.

What would you suggest here.

Good pippin.....

Alex
Attached Image
  • #433
  • Nov 16, 2006 9:20pm Nov 16, 2006 9:20pm
Quoting pipraker
Not sure what you mean by reversal.

Can't the same thing happen to you entering at the high/low?

What is the Level 2 you mentioned?
level two enter the trade before it hits the S&R. Hence more pips. T1 is at H&L and T2, T3 at other price levels.

In successful trading, other than risk management; Entry and exit techniques must be iddentified correctly with proper goal. It will be discuss more in Level 2 soon.

May the force be with you
Change Your Thinking. Change Your Life - JD
  • #434
  • Nov 16, 2006 9:25pm Nov 16, 2006 9:25pm
Quoting pipraker
If the daily candle is green, then you look for a long entry and you take the first entry because that may be the only one that pays.

If the daily candle is red then you look for a short entry and you take the first entry because that may be the only one that pays.

You can look at the 60 minute chart to see the momentum building.

And you can use the top/bottom prices to trade the news.

That's how I rake in the pips.
I do agree with you, as entry & exit for SRDC varies. When you notice, Im trying to teach SRDC step by step. Its designed for beginners in mind, hence opened at Beginners forum.

As one has more experience and have relationship with their pair (wife wont mind), it will be very easy to devise entry and exit. Fun damentals & channel helps a lot.

Keep at it and make it your own system.
Change Your Thinking. Change Your Life - JD
  • #435
  • Nov 16, 2006 9:28pm Nov 16, 2006 9:28pm
Quoting pipraker
My method says to never trade against the 60 minute candle color unless it is a "special case" like news reports.
Great thread Orange. Good discussion going here.

pipraker, in the above statement did you mean "never trade against the daily candle " instead of the hourly?

In post #438 you say:
If the daily candle is green, you go long.

If the daily candle is red, you go short.


Just looking to clarify.

Thanks,

Jim
Indicators show the past. Price Action "Indicates" the future.
  • #436
  • Nov 16, 2006 9:31pm Nov 16, 2006 9:31pm
Quoting AlexFX
Hey,

So would you straddle the close price of previous daily candle with a buy and sell say 5 pips from close price?

Alex
It all depends on price analysis and price range (channel). Again, like i said, SRDC is not a fixed system, but rather a simple basic system. Much like linux operating system, an open system with the same basic.

The 5pips thingy is designed for newbies in mind. Any pro knows with small spread pair, 5pips is doable. As u sounded familiar with the basic, ride on the profits, with defensive trading.

The golden rule, "Dont turn a winning trade into a losing one"
Change Your Thinking. Change Your Life - JD
  • #437
  • Nov 16, 2006 9:36pm Nov 16, 2006 9:36pm
Quoting pipraker
That's not how I do it.

If the daily candle is green, you go long.

If the daily candle is red, you go short.

You look to go short at the bottom and long at the top.

Now, if you want scalp, you can trade the open cross of the new candle.
That will work too. But that's a different strategy.

By the way, OrangeRoshan, I didn't mean step on your toes. These two methods are practically identical. I just don't like to leave pips lying on the chart. Might as well rake them into my pile. Know what I mean?

In fact, there may be a pattern here... depending on the values of High - Top and Bottom - Low, that might determine if you wait for the high to enter or enter at the candle top.

For instance if the value is 10 or less, you may wait for the high but if the value is > 10, you enter at the top... just thinking out loud... would have to run statistics.

What are your thought's Orange?
Rock on baby..... Its cool. Read my previous answer to your posts and Alex. Let us know how are you doing and what have you found out. Since it is experimental, do it on your demo 1st. I like to see more of the pattern you mentioned....

You will pips wat you sow!
Change Your Thinking. Change Your Life - JD
  • #438
  • Nov 16, 2006 9:56pm Nov 16, 2006 9:56pm
Just for fun, not hyping anyone (looking left and right, just in case he is there). When you look at the daily candles, level 4, the complete system actually start reaping pips 3 hours after the day candle opens.

This level is developed by the help of my Japanese trading team. It is pure price action stuff (at the moment). On the other hand, level 3 is more on pure quality pips. A system to add more pips in between any trade. It acts as an insurance to previous loss or current negative pips before it turned to positive again. I call it the Impeccable SRDC system.

The trade psychology for all 4 combined are very complex. But, true understanding of the SRDC level 1 will be a good start.

Turning pro is not so much on your account size, but more on consistency and experience. The later cannot be bought or learned, but earned.

My sincere goal is to guide beginners for a good profitable trade right at the beginning. In due time, a proper EA will be developed that will help others to learn the method more interactive.

Now that's Impeccablly a piping goal.
Change Your Thinking. Change Your Life - JD
  • #439
  • Nov 16, 2006 10:07pm Nov 16, 2006 10:07pm
Quoting OrangeRoshan
Just for fun, not hyping anyone (looking left and right, just in case he is there). When you look at the daily candles, level 4, the complete system actually start reaping pips 3 hours after the day candle opens.

This level is developed by the help of my Japanese trading team. It is pure price action stuff (at the moment). On the other hand, level 3 is more on pure quality pips. A system to add more pips in between any trade. It acts as an insurance to previous loss or current negative pips before it turned to positive again. I call it the Impeccable SRDC system.

The trade psychology for all 4 combined are very complex. But, true understanding of the SRDC level 1 will be a good start.

Turning pro is not so much on your account size, but more on consistency and experience. The later cannot be bought or learned, but earned.

My sincere goal is to guide beginners for a good profitable trade right at the beginning. In due time, a proper EA will be developed that will help others to learn the method more interactive.

Now that's Impeccablly a piping goal.
Hey,

Thanks for your commitment to trading. You as well as others here at FF do an outstanding service to the trading community.

Thanks again and good pippin to you.....

Alex
  • #440
  • Nov 17, 2006 12:07am Nov 17, 2006 12:07am
Quoting OrangeRoshan
Rock on baby..... Its cool. Read my previous answer to your posts and Alex. Let us know how are you doing and what have you found out. Since it is experimental, do it on your demo 1st. I like to see more of the pattern you mentioned....

You will pips wat you sow!
Demo? LOL!

I use my little account to test systems. Real money makes me focus.

Anyone can sink a foul shot in their driveway hoop. But try sinking a foul shot when the championship game is on the line with thousands of fans screaming and waving balloon thingies.

REAL MONEY = REAL RESULTS.
THE GAME NEVER ENDS.
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