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SRDC Episode I

  • #481
  • Nov 18, 2006 5:36am Nov 18, 2006 5:36am
Quoting jarroo
The more I look at this the more interesting it becomes. Along with James16 price action, it looks good.

Nice work, compro99.

Jim
Quoting OrangeRoshan
Its Nostalgic also for me...... good old days....!!

Welcome to Planet SRDC!!
address: within the Pips Belt...
Oh yeah . . . . . Thanks to you too, Orange.

Thanks for all of your help and time that you give to all of us.



Jim
Indicators show the past. Price Action "Indicates" the future.
  • #482
  • Nov 18, 2006 6:07am Nov 18, 2006 6:07am
Orange,

Nice to read your contagious posts again to get us back on track. In previous posts you mentioned that in order to find a balance between take profit and stop loss that we need to ride the profit...but you have also said that with SRDC you can succesfully make 5-10 pips with a stop loss of 20-30 pips without monitoring the trade. So can we really expect to be on the plus side without monitoring our trade?

One more thing you talk about using channels but I am not clear how to create and use them. Could you elaborate on it or is that the next step with SRDC 2?

Thanks again for your contribution.
Attached Image
All 4 1 and 1 4 All
  • #483
  • Nov 18, 2006 6:36am Nov 18, 2006 6:36am
I want to thanks again Jedi Roshan for teaching price action down to the most fundamental level which gave me some ideas. This can be formulate into day trading and swing trading ideas by looking at daily and weekly candle.

Most important is the price structure gave an objective view of the trade.
The future depends on what we do in the present.
  • #484
  • Nov 18, 2006 6:41am Nov 18, 2006 6:41am
Quoting 4rex
Orange,

Nice to read your contagious posts again to get us back on track. In previous posts you mentioned that in order to find a balance between take profit and stop loss that we need to ride the profit...but you have also said that with SRDC you can succesfully make 5-10 pips with a stop loss of 20-30 pips without monitoring the trade. So can we really expect to be on the plus side without monitoring our trade? Yes, you can, especially when market is your best friend. But, like everything else, as a first step, we tend to be modest, until we are sure what we are doing.

Think of it like a relationship. Just seeing her and she smile at you will make your day. a week, and then months. But, as your become more familiar, a smile and Hi just wont be enough. You want dinner...... a date! When it goes well, then a few dates and perhaps a 100pips TP which is romance.... and so on......

I think you got the point. The 5pips bit is designed to boost confidence. To be able to go to the next move....
One more thing you talk about using channels but I am not clear how to create and use them. Could you elaborate on it or is that the next step with SRDC 2?

Hmmm... this is what has been bugging me too. I dont know how to teach online thru forum. One way that you can consider is to draw your own, and post it and Ill try to correct it as much as I can. Deal?

It is a very important part of SRDC at all levels. More apparent when you enter level two onards.

Pipastic question!!

Thanks again for your contribution.
Picture this, Jabba on diet...... NOT!!
Change Your Thinking. Change Your Life - JD
  • #485
  • Nov 18, 2006 6:47am Nov 18, 2006 6:47am
Quoting compro99
I want to thanks again Jedi Roshan for teaching price action down to the most fundamental level which gave me some ideas. This can be formulate into day trading and swing trading ideas by looking at daily and weekly candle.

Most important is the price structure gave an objective view of the trade.
Thanks Compro, I have a trader (in my team) who is a personal student of Abe Cofnas, he traded what he called,"Market structure". It is a formation of candles, when formed, will produce a short term trend. It added to any system for entry and exit. Price action? bring it on......

I wonder when Jedis can move candles...........!
Change Your Thinking. Change Your Life - JD
  • #486
  • Nov 18, 2006 10:33am Nov 18, 2006 10:33am
Quoting compro99
I was tinkering abt Jedi OrangeRoshan method.

I wonder if the suggestion works.. and maybe people here can together test it.

================

OHLC

If yesterday is bear daily candle, today take short position 1pip below yesterday Low and long position at 1pip above yesterday Open.

If yesterday is bull daily candle, today take long position at 1pip above yesterday High and short position at 1pip below yesterday Close.

We can then set SL/TP as per original SRDC 1.
I know you probably would still have losses, but let me ask a few questions. Would you ignore Sunday candle on this? Second, look at 11/02 and 11/03 candles. 11/02 was bull. The 11/3 candle went up 8 pips higher than 11/2, minus the 1 pip wait would only be 7 pips. Subtracting the spread (and I believe 3 pips is the lowest spread I've seen) would only net 4, so you'd lose on that one. Is that what you see too? Like I said I know no matter what system you lose, but I wanted to make sure I understood you correctly.

The only other comment I would make is the one about shorting 1 pip below yesterday's close. The open the next day could easily be 1 pip lower than the close, but may not follow through. Have you noticed this?
  • #487
  • Nov 18, 2006 11:12am Nov 18, 2006 11:12am
which currency are u referring to ? GBP ??

I would say ignore the sunday candle.

If it is GBP, 11/02 was a bearish candle. Use that bearish candle Open Price for long(reversal of bias) and Low for short(trend). I did not see any issue.. based on GBP.

Last checked, 11/03 is NFP day, well, i wouldnt wanna trade before the news come out.
The future depends on what we do in the present.
  • #488
  • Nov 18, 2006 11:14am Nov 18, 2006 11:14am
Hi, any mt4 programmer here ?

I uploaded a mq4 which shows yesterday and today OHLC on daily chart. Can anyone further improve to show last weekly candle OHLC ???
Attached File(s)
File Type: mq4 OHLC.mq4   2 KB | 616 downloads
The future depends on what we do in the present.
  • #489
  • Nov 18, 2006 11:26am Nov 18, 2006 11:26am
Quoting compro99
which currency are u referring to ? GBP ??

I would say ignore the sunday candle.

If it is GBP, 11/02 was a bearish candle. Use that bearish candle Open Price for long(reversal of bias) and Low for short(trend). I did not see any issue.. based on GBP.

Last checked, 11/03 is NFP day, well, i wouldnt wanna trade before the news come out.
hmmm, ok ingoring 11/3 as nfp day, assume it was a normal day, is what I wrote correct? Hey nevermind I guess. GMT candle for 11/2 was bullish, not bearish. Must be another timezone thing. 11/3 was bearish.
  • #490
  • Nov 18, 2006 11:35am Nov 18, 2006 11:35am
Quoting llambert3
hmmm, ok ingoring 11/3 as nfp day, assume it was a normal day, is what I wrote correct? Hey nevermind I guess. GMT candle for 11/2 was bullish, not bearish. Must be another timezone thing. 11/3 was bearish.
What i wrote was an suggestion. Just keep for reference and instead focus on what Jedi Roshan has to say and his SRDC. Let's learn together... step by step.
The future depends on what we do in the present.
  • #491
  • Nov 18, 2006 11:43am Nov 18, 2006 11:43am
Quoting compro99
What i wrote was an suggestion. Just keep for reference and instead focus on what Jedi Roshan has to say and his SRDC. Let's learn together... step by step.
yes, but if your suggestion causes a higher success rate for the basic method, it may be something to look at by all wouldn't you agree? However, since our charts are different, we can't determine that unless what you wrote IS what you meant. I guess I initially wrote because I thought you may have made a mistake by the "use the OPEN of the previous candle" for bearish yesterday, but apparently you meant it, so now I can watch out for it and just use it as a "maybe it will work better" idea. Thanks.
  • #492
  • Nov 18, 2006 11:51am Nov 18, 2006 11:51am
Quoting llambert3
yes, but if your suggestion causes a higher success rate for the basic method, it may be something to look at by all wouldn't you agree? However, since our charts are different, we can't determine that unless what you wrote IS what you meant. I guess I initially wrote because I thought you may have made a mistake by the "use the OPEN of the previous candle" for bearish yesterday, but apparently you meant it, so now I can watch out for it and just use it as a "maybe it will work better" idea. Thanks.

Ok, i was trying to improve entry.

If yesterday is bearish candle, If price goes down further.. we use the yesterday low as entry(intial confirmation of trend). But if price goes up... instead of using yesterday high, we use yesterday open to get earlier entry (could be reversal or retracement)
The future depends on what we do in the present.
  • #493
  • Nov 18, 2006 11:51am Nov 18, 2006 11:51am
Roshan,

I loved your analogy but instead of Jaba I prefer to picture this:





OOLA.....la lala

Quoting OrangeRoshan
Picture this, Jabba on diet...... NOT!!
Attached Image
All 4 1 and 1 4 All
  • #494
  • Nov 18, 2006 4:30pm Nov 18, 2006 4:30pm
Hi Compro99,

I appreciate your addition here. I had a question. You said,

Quoting compro99
If yesterday is bear daily candle, today take short position 1pip below yesterday Low and long position at 1pip above yesterday Open.

If yesterday is bull daily candle, today take long position at 1pip above yesterday High and short position at 1pip below yesterday Close.
My question is about your second statement (where the daily candle is bull). Would it not be better to say: "If yesterday is bull daily candle, today take long position at 1 pip above yesterday high and short position at 1 pip below yesterday open" (instead of close)? That would make the statement consistent with the first statement (where the daily candle is bear.)

Just wanting to get your thoughts on that. Thank you again.


Quoting compro99
I was tinkering abt Jedi OrangeRoshan method.

I wonder if the suggestion works.. and maybe people here can together test it.

================

OHLC

If yesterday is bear daily candle, today take short position 1pip below yesterday Low and long position at 1pip above yesterday Open.

If yesterday is bull daily candle, today take long position at 1pip above yesterday High and short position at 1pip below yesterday Close.

We can then set SL/TP as per original SRDC 1.
  • #495
  • Nov 18, 2006 4:50pm Nov 18, 2006 4:50pm
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.
Of COURSE I'm here...and will ALWAYS be checking my "hype-meter" on ALL posts. bwahahaha!
  • #496
  • Nov 18, 2006 8:28pm Nov 18, 2006 8:28pm
Roshan,

Would you consider this a channel?
Attached Image
All 4 1 and 1 4 All
  • #497
  • Nov 18, 2006 8:29pm Nov 18, 2006 8:29pm
Quoting mikejody
Hi Compro99,

I appreciate your addition here. I had a question. You said,



My question is about your second statement (where the daily candle is bull). Would it not be better to say: "If yesterday is bull daily candle, today take long position at 1 pip above yesterday high and short position at 1 pip below yesterday open" (instead of close)? That would make the statement consistent with the first statement (where the daily candle is bear.)

Just wanting to get your thoughts on that. Thank you again.

MikeJody,

U got it right. It should be yesterday Open. I was confused.. hahaha...!!!!
The future depends on what we do in the present.
  • #498
  • Nov 18, 2006 8:36pm Nov 18, 2006 8:36pm
Quoting compro99
MikeJody,

U got it right. It should be yesterday Open. I was confused.. hahaha...!!!!
hold on now I am confused. Your first and second post both say if bullish use yesterday's close. That was why I wrote and even said you must've really meant close. Now you are saying the open on both bullish and bearish????

Please shoot me or help me.

Maybe I am misunderstanding as well. YIKES
  • #499
  • Nov 18, 2006 8:41pm Nov 18, 2006 8:41pm
Quoting llambert3
hold on now I am confused. Your first and second post both say if bullish use yesterday's close. That was why I wrote and even said you must've really meant close. Now you are saying the open on both bullish and bearish????

Please shoot me or help me.

Maybe I am misunderstanding as well. YIKES

Yesterday Bullish Bar
================

Long it at yesterday High and Short it at yesterday Open.


Yesterday Bearish Bar
================

Short it at yesterday Low and Long it at yesterday Open.


This is correct now !
The future depends on what we do in the present.
  • #500
  • Nov 18, 2006 8:49pm Nov 18, 2006 8:49pm
Quoting compro99
Yesterday Bullish Bar
================

Long it at yesterday High and Short it at yesterday Open.


Yesterday Bearish Bar
================

Short it at yesterday Low and Long it at yesterday Open.


This is correct now !
great, makes MUCH more sense now.
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