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SRDC Episode II

  • #281
  • Nov 30, 2006 9:43am Nov 30, 2006 9:43am
http://img167.imageshack.us/img167/6...6104430lm5.png
Johann Channels and cycles are everything
  • #282
  • Nov 30, 2006 9:52am Nov 30, 2006 9:52am
Quoting njfx
Hey Master Roshan,

You mentioned the imperial troopers using Fibo # for prices, I have also
heard of the pro's using pivot points. I have been playing with a daily Fibo Pivot indicator on the 1hr chart.

Have you played with pivot points before?

East Coast Ewock
Yes, at times. But i will not mentioed so much. Support & Resistence / Fibo are already powerful tools.

Wen you know how to use it, by all means, use it...
Change Your Thinking. Change Your Life - JD
  • #283
  • Nov 30, 2006 9:55am Nov 30, 2006 9:55am
Quoting downunderdave40
Greetings Orange,

Are you using the SDC width settings that Rojam is using or are you using a different width settings. I would like my channels to be as close to yours as possible. Easier to follow the Masters lessions that way.

Dave
I use Linear Regression Channel for my trend channel drawing now. There is no settings. Just click and paste them. Its self-adjust.

Pipastic
Change Your Thinking. Change Your Life - JD
  • #284
  • Nov 30, 2006 9:59am Nov 30, 2006 9:59am
Quoting downunderdave40
Hi JL,

I guess what gets a bit confusing is the length of time that one uses to draw the channels. What I was trying to find out was how far back should you draw the channel for the 1 hr, 4 hr and daily charts. I've drawn them according to the widths you mentioned in your previous post. I just wanted to know if they are the widths that the Master is using????
Zoom out the charts and see where the trend starts and drag the LRC to the current day. LRC is drawing trend lines, so naturally we look for trends.

Hope that pips
Change Your Thinking. Change Your Life - JD
  • #285
  • Nov 30, 2006 10:06am Nov 30, 2006 10:06am
Quoting Tragapips
Grandpa

IMHO you īre not using LRC the right way. Take a look:
This is a total violation of the Jedi council regulation on chart posting (pls see the first post on this thread). As soon as I woke up, I said,"Woooowwwww.... hang on... whats that? Is that the dark force?"

Please (GOES TO EVERYONE), post in lighter colour, friendly to our Printer Toner and Ink. Some Padawan might want to print it, and ends up, drying the printer ink in warp speed.

For this Violation, You are hereby, sentenced to 23,000 jedi Pips and A year in Community Service (Chained to Jabba 24/7).
Change Your Thinking. Change Your Life - JD
  • #286
  • Nov 30, 2006 10:11am Nov 30, 2006 10:11am
In a post above there was mention of channel trading being a bit crazy right now, but it does not have to be. Look at the below image of a screen shot i just took on the GBP, i just grabbed 75 pips in profit from simple TA on today's trade:

http://www.accrete.com/fx-posts/misp...nnel2exmpl.png

The LRC and it's companion FiboChannel with Gann levels (instead of Fibo % they are simple Gann math of 25 rather than the Fibo of 23.6 etc). I would not have shorted the G/U pair unless the price broke below the 25% DOTted black line near the horizontal RED line below the upper Blue LRC line (that was a mouth full). Though i would, and did buy the pair upon a momentum break out of the upper channel where i placed a small BLUE horizontal line. That's where the pips came from today. Just fairly straight forward channel trading off S/R channel levels. I'm not saying it is easy, but looking at charts for nearly 8 hours a day for some time and you begin to see these types of setups.

I know we have many different channels discussed in this thread, though the tools are slightly different, channel and breakout traders will use bits and bites from various methods and make something that is personalized and works for them. I only share what is working for me in hopes that there will be even one "AHA" moment for a fellow trader and they can grab some pips for themselves.

Good trading,
Thom
  • #287
  • Nov 30, 2006 10:14am Nov 30, 2006 10:14am
Quoting traderlismiss
Thank you for the post. I do hope OR will address this because it will determine profit or loss in many cases. Some have advocated drawing three days, others back to the last trend. Some are using the SHI, new and old. I hope we can get a clearer definition of what to do here. It would be great if OR could tell us the time period he used on the three pairs we are trading when sets them up at 23:59 GMT. I don't want anyone to do my work for me but there are at least four or five schools of thought here and I would like to have one from OR who's method we are using.

Thanks all,
Shi Channel is an indicator that automatically do it for you. The rest is Semi-Auto or even Manual. It all serve the same purpose.

Drawing trendlines, in the old days, were manual as most of you can guess. With 3 same charts, and 3 pros drawing the channel. All three drew differently, but with 90% similarity.

My point is: Practice Drawing it, Practice, Practice and send it here for clarification. Thats the only way, It took me months to master it, some took a day. Some Never (I still dont understand how that come about). Never assume, you can master it, immediatelly. Its a part of Jedily skill that need time........

OK. In this case, I will post a blank chart and everyone post their version. Dont cheat, dont look at others. I think this will pips.
Change Your Thinking. Change Your Life - JD
  • #288
  • Nov 30, 2006 10:21am Nov 30, 2006 10:21am
Quoting monty
mr orange roshan

just to let you know, nurse says im ok after last nights tantrum, but i have to keep taking the medicine??

anyway, i think its clear that some of us are unclear, so tonight at midnight gmt, could you please post your set up in detail with images etc, and a possible entry. this may make thing clear, and we may all progress.
As i left the reception desk, a beautiful female doctor call my name..."Orange......", I answer, "Yes.... thats me".

"The guy in bed No. 618 left in a hurry, he keep saying....GMT GMT GMT...... Just wanted you to know, we are worried about him.."

"Don't worry doc, I know where to find him.....", I reply with a Jedi Grin. Wherelse when not at FF.

Ok, Relax, but must pay attention. I will do Practice post. But, wen u guys dont participate, I will move in Warp speed...... Deal?
Change Your Thinking. Change Your Life - JD
  • #289
  • Nov 30, 2006 10:30am Nov 30, 2006 10:30am
Quoting accrete
In a post above there was mention of channel trading being a bit crazy right now, but it does not have to be. Look at the below image of a screen shot i just took on the GBP, i just grabbed 75 pips in profit from simple TA on today's trade:

http://www.accrete.com/fx-posts/misp...nnel2exmpl.png

The LRC and it's companion FiboChannel with Gann levels (instead of Fibo % they are simple Gann math of 25 rather than the Fibo of 23.6 etc). I would not have shorted the G/U pair unless the price broke below the 25% DOTted black line near the horizontal RED line below the upper Blue LRC line (that was a mouth full). Though i would, and did buy the pair upon a momentum break out of the upper channel where i placed a small BLUE horizontal line. That's where the pips came from today. Just fairly straight forward channel trading off S/R channel levels. I'm not saying it is easy, but looking at charts for nearly 8 hours a day for some time and you begin to see these types of setups.

I know we have many different channels discussed in this thread, though the tools are slightly different, channel and breakout traders will use bits and bites from various methods and make something that is personalized and works for them. I only share what is working for me in hopes that there will be even one "AHA" moment for a fellow trader and they can grab some pips for themselves.

Good trading,
Thom
Yawn.... just got up..... wat you say thom....? Or Break-outs..... Hmmmm.... Yes, Thats SRDC level 3, but not now.... Look at the boys, they are tired, confused and baffled. Ive never seem padawans in this state before. Im tempted to call C3P0 in the hope to entertain them.....
Attached Image
Change Your Thinking. Change Your Life - JD
  • #290
  • Nov 30, 2006 10:51am Nov 30, 2006 10:51am
I didn't use the force this morning... LOst three trades in a row... Help with channel trading please?
  • #291
  • Nov 30, 2006 10:59am Nov 30, 2006 10:59am
OK, This is GBPUSD.

From 22nd Oct 2006 to 3rd NOV 2006.

Use the LRC and see where you will draw it.

Post it for everyone to see. Dont cheat and You shall never learn.

Keep in mind this thread's Regulation & Rules on Charts.

Time -17:00GMT or -12:00EST

Answer in 1 Hour
Attached Image
Change Your Thinking. Change Your Life - JD
  • #292
  • Nov 30, 2006 11:28am Nov 30, 2006 11:28am
this is my 1 hour

http://picnac.com/images/3468lrc1.gif
  • #293
  • Nov 30, 2006 11:30am Nov 30, 2006 11:30am
my Padawan attempt without all my additional Jedi Tools showing:

http://www.accrete.com/fx-posts/misp...nnel4exmpl.png
  • #294
  • Nov 30, 2006 11:33am Nov 30, 2006 11:33am
Quoting hensch
this is my 1 hour
Edit and USe the DATES stated, so we all can compare.
Change Your Thinking. Change Your Life - JD
  • #295
  • Nov 30, 2006 11:36am Nov 30, 2006 11:36am
Quoting accrete
my Padawan attempt without all my additional Jedi Tools showing:
Pls use the Dates provided.
Change Your Thinking. Change Your Life - JD
  • #296
  • Nov 30, 2006 11:38am Nov 30, 2006 11:38am
22nd Oct channel - 1 hour chart

http://picnac.com/images/4235lrc2.gif
  • #297
  • Nov 30, 2006 11:40am Nov 30, 2006 11:40am
Correct me if I'm wrong, but I think that the key here is to double click on the
LRC middle line and resize it to fit the price. Is that right?

Henry
  • #298
  • Nov 30, 2006 11:49am Nov 30, 2006 11:49am
Several people (including me!) were not totally satisfied with this indicator so I made a small change - the channel will now get wider as new highs or lows occur but the SLOPE or angle of the channel will not be recalculated as often as in the original version. Hopefully this version will be useful for those wishing to write an EA - the values of the 3 trend lines at each bar are available in index buffers 0-2. The values for the current bar are shown in the upper left corner of the chart.

If interested, see post #237 - the latest version is there.
Old Benjamin was right
  • #299
  • Nov 30, 2006 11:53am Nov 30, 2006 11:53am
Oh, forgot to mention - I will create a version of the original indicator (SHI_Channel_true.mq4) that also provides the values of the trend lines in buffers. This will be for those who prefer the frequent re-drawing of the original but would like to write an EA. I will post this in the next couple of days.
Old Benjamin was right
  • #300
  • Edited 12:38pm Nov 30, 2006 12:07pm | Edited 12:38pm
If this is too big I am sorry.
Attached Image
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