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SRDC Episode I

  • #601
  • Edited 6:13pm Nov 29, 2006 10:30am | Edited 6:13pm
jedi,

here's my screenshot for cable today. Does this match yours? can I assume that cable is expected to become bearish as it's outside the channel?

{Friendly reminder here to post charts without black backgrounds as per Orange Roshans thread rules...Thanks}
Attached Image
TRADE FOR SWAP
  • #602
  • Nov 29, 2006 10:33am Nov 29, 2006 10:33am
Quoting Bobokus
The correct setting for TCCI is change from 0 to 6 not 14.
Hmm... i will look at it. Experiment with it. When it works use it. When it doesnt, its ok.

reversal in SRDC is when it touches the trendlines, as the dances in Trend explained in SRDC II. Its 90% accurate and realtime. The only time its wrong is when a trend is chanding and a slope is increasing due to momentum.

Hope that pips
Change Your Thinking. Change Your Life - JD
  • #603
  • Nov 29, 2006 10:34am Nov 29, 2006 10:34am
Quoting cgldsmth
jedi,

here's my screenshot for cable today. Does this match yours? can I assume that cable is expected to become bearish as it's outside the channel?
I need a torchlight!!
Change Your Thinking. Change Your Life - JD
  • #604
  • Nov 29, 2006 10:38am Nov 29, 2006 10:38am
Quoting Autumm
Sorry i was referring to Eur/usd pair
ahhh, it may work with that one. I doubt gbp/usd would though.
  • #605
  • Nov 29, 2006 12:50pm Nov 29, 2006 12:50pm
Quoting OrangeRoshan
Hmmm... I made 50 jedi pips on GBP 2day and still riding Last expected to hit TP 1.8465. Its a short day for GBP.

Maybe you long the GBP trade?
Where did you trigger your trade? Surely not at Support. I didn't see a short trade on SRDC I.
Don Life is expensive, but includes a free trip around the sun.
  • #606
  • Nov 29, 2006 2:38pm Nov 29, 2006 2:38pm
looking at my chart above you can see that GBP just hit the long trigger (3 pips above previous day's high) before retracing. I'm sure avoiding the weekly highs etc would have avoided this (ie. only putting a sell-stop) but then again cable's been making lots of new highs.
TRADE FOR SWAP
  • #607
  • Nov 29, 2006 5:15pm Nov 29, 2006 5:15pm
Quoting traderone
Where did you trigger your trade? Surely not at Support. I didn't see a short trade on SRDC I.
No, Not SRDC 1. Its too risky as the pounds are just too high.
Change Your Thinking. Change Your Life - JD
  • #608
  • Nov 30, 2006 2:08pm Nov 30, 2006 2:08pm
Does anyone have fun with GBP and EUR today?
SRDC I gives a lot of Jedi Pips today.
Change Your Thinking. Change Your Life - JD
  • #609
  • Nov 30, 2006 2:56pm Nov 30, 2006 2:56pm
Yes,

had good trades today on NZD, AUD, EURO, GBP and CHF. I'm watching 8 pairs and make my move based on price action near S and R and "market personality".

The good pips to all the Jedi here..

Alex
  • #610
  • Nov 30, 2006 3:36pm Nov 30, 2006 3:36pm
Quoting OrangeRoshan
Does anyone have fun with GBP and EUR today?
SRDC I gives a lot of Jedi Pips today.
nearly 50 on the Eur, and 75 on the GBP. Fun stuff breaking out of ranges.
  • #611
  • Nov 30, 2006 3:51pm Nov 30, 2006 3:51pm
Bad day for this knight. Had stops to close.
  • #612
  • Dec 1, 2006 10:57am Dec 1, 2006 10:57am
had a couple of losers on USDCHF. think I'll stick to cable as seems to have more momentum pushing through resistance.
TRADE FOR SWAP
  • #613
  • Dec 6, 2006 4:45am Dec 6, 2006 4:45am
Quoting accrete
nearly 50 on the Eur, and 75 on the GBP. Fun stuff breaking out of ranges.
Hi,

Hope someone is still watching SRDC I. I would like to confirm my understanding of last night's action.

Therefore, this covers the transition between 5th Dec and 6th Dec. It seems to me that had you placed a straddle on the 5th Daily candle, say around 00.03 GMT on the 6th Dec, then you would not have seen the S/R penetrated (going through previous low of 1.9674 - spread - 1) until approximately 09.30 GMT. Is this correct?

Thanks for any help!
  • #614
  • Dec 6, 2006 5:23am Dec 6, 2006 5:23am
Quoting exastris
Hi,

Hope someone is still watching SRDC I. I would like to confirm my understanding of last night's action.

Therefore, this covers the transition between 5th Dec and 6th Dec. It seems to me that had you placed a straddle on the 5th Daily candle, say around 00.03 GMT on the 6th Dec, then you would not have seen the S/R penetrated (going through previous low of 1.9674 - spread - 1) until approximately 09.30 GMT. Is this correct?

Thanks for any help!
Hi exastris,

Can your explain in a chart (light colour pls), or re-sentence that question again please. Sorry, i didnt get your question.

Thanks
Change Your Thinking. Change Your Life - JD
  • #615
  • Edited 8:27am Dec 6, 2006 6:30am | Edited 8:27am
Quoting OrangeRoshan
Hi exastris,

Can your explain in a chart (light colour pls), or re-sentence that question again please. Sorry, i didnt get your question.

Thanks
Hi,

Thank you for your reply.

I am trying to follow your instructions as outlined in post # 28 of this thread.

Please see charts attached with HIGH and LOW of 5th Candle in dotted red lines and 5 min chart for 6th december.

So, to confirm my understanding, to place a straddle just after 5th Daily candle finishes, I would place two orders, at say 00.03 GMT on 6th December (I'm using IBX platform).

STRADDLE ORDER:

FIRST ORDER:

BUY @ (5th DAILY HIGH) + spread + 1

5th DAILY HIGH = 1.9084 and assume spread = 3

Threfore place BUY @ 1.9088 (SL = 25 for me )

Take 5 pips profit, therefore close order @ 1.9093

SECOND ORDER:

SELL @ (5th DAILY LOW) - spread - 1

5th DAILY LOW = 1.9674 and assume spread = 3

Therefore SELL @ 1.9670 (SL = 25)

Take 5 pips profit, therfore close order @ 1.9665.

Summary:

Only SECOND ORDER is triggered.
We notice that on 5 min chart LOW of DAILY 5th was penetrated at approx 09.25 GMT on 6th. Which is approximately where my SELL would have opened and quickly closed. Correct?

Sorry to be so pedantic, but I am trying to get the fundementals in place before I go any further.

Regards,
Attached Images
  • #616
  • Dec 7, 2006 2:58pm Dec 7, 2006 2:58pm
Quoting exastris
Hi,

Thank you for your reply.

I am trying to follow your instructions as outlined in post # 28 of this thread.

Please see charts attached with HIGH and LOW of 5th Candle in dotted red lines and 5 min chart for 6th december.

So, to confirm my understanding, to place a straddle just after 5th Daily candle finishes, I would place two orders, at say 00.03 GMT on 6th December (I'm using IBX platform).

STRADDLE ORDER:

FIRST ORDER:

BUY @ (5th DAILY HIGH) + spread + 1

5th DAILY HIGH = 1.9084 and assume spread = 3

Threfore place BUY @ 1.9088 (SL = 25 for me )

Take 5 pips profit, therefore close order @ 1.9093

SECOND ORDER:

SELL @ (5th DAILY LOW) - spread - 1

5th DAILY LOW = 1.9674 and assume spread = 3

Therefore SELL @ 1.9670 (SL = 25)

Take 5 pips profit, therfore close order @ 1.9665.

Summary:

Only SECOND ORDER is triggered.
We notice that on 5 min chart LOW of DAILY 5th was penetrated at approx 09.25 GMT on 6th. Which is approximately where my SELL would have opened and quickly closed. Correct?

Sorry to be so pedantic, but I am trying to get the fundementals in place before I go any further.

Regards,
Yes correctly done.
Just a suggestion. Take a calculated risk by exiting 90% of the lot at desire TP (SL to breakeven) and let the 10% ride until an opposite trend candle appear on the 15mins chart. This way, you can harvest more pips with less risk.

Pipastic!!
Change Your Thinking. Change Your Life - JD
  • #617
  • Edited Dec 8, 2006 4:59am Dec 7, 2006 9:58pm | Edited Dec 8, 2006 4:59am
Quoting exastris
Hi,

Thank you for your reply.

I am trying to follow your instructions as outlined in post # 28 of this thread.

Please see charts attached with HIGH and LOW of 5th Candle in dotted red lines and 5 min chart for 6th december.

So, to confirm my understanding, to place a straddle just after 5th Daily candle finishes, I would place two orders, at say 00.03 GMT on 6th December (I'm using IBX platform).

STRADDLE ORDER:

FIRST ORDER:

BUY @ (5th DAILY HIGH) + spread + 1

5th DAILY HIGH = 1.9084 and assume spread = 3

Threfore place BUY @ 1.9088 (SL = 25 for me )

Take 5 pips profit, therefore close order @ 1.9093

SECOND ORDER:

SELL @ (5th DAILY LOW) - spread - 1

5th DAILY LOW = 1.9674 and assume spread = 3

Therefore SELL @ 1.9670 (SL = 25)

Take 5 pips profit, therfore close order @ 1.9665.

Summary:

Only SECOND ORDER is triggered.
We notice that on 5 min chart LOW of DAILY 5th was penetrated at approx 09.25 GMT on 6th. Which is approximately where my SELL would have opened and quickly closed. Correct?

Sorry to be so pedantic, but I am trying to get the fundementals in place before I go any further.

Regards,
Quoting OrangeRoshan
Yes correctly done.
Just a suggestion. Take a calculated risk by exiting 90% of the lot at desire TP (SL to breakeven) and let the 10% ride until an opposite trend candle appear on the 15mins chart. This way, you can harvest more pips with less risk.

Pipastic!!
Grand Master Jedi Orange Roshan, may I ask you a question?

Why do you take BUY price and SELL price on the same way (say spread = 5, then 6 points away from high / low)?
In my platform, High-Low usually represented by Bid price, both of them.

If we put SELL order at Low - 5 - 1, I can understand that we get Bid price.

But when we decide to put BUY order at High + 5 + 1, then I suspect that price we calculate is BID price, not OFFER/ASK price. If we want to BUY, why we don't buy on that calculated price + spread again = (high + 5 + 5 + 1) ?

For example : these High Low prices are BID prices
HIGH = 1.9711
LOW = 1.9609

So we put SELL Order on 1.9609-5-1 = 1.9603 <-- Sure this is BID price

BUY order on 1.9711+5+1 = 1.9717 <-- I suspect this is BID price, not ASK price, so if we tend to BUY, by the time the price reach 1.9717 on BID, then the ASK/OFFER price should be 1.9717+ spread (5) = 1.9722.

I do really need explanation on this Grand Master. Thanks!


PS : Master Roshan, you gave me a very clear view to get profit in Forex. I did a calculation in Excel file to find out if we start investment with some little amount in $US, what we will get in JUST ONE YEAR. The result was so amazing.....JUST FOR 5 PIPS TARGET..that looks so possible everyday! How come we're blind for it's 5 pips target all this time? My trader team have a promise, that if our calculation go right in one year, we'll not knock-knock on your door, instead we'll send you some souvenir gift. That's a Jedi Promise....... , better you give your address in Brunei Master!
  • #618
  • Dec 9, 2006 7:14am Dec 9, 2006 7:14am
Ola to all; Have faith padawans the journey is about to become fruitfully for you. REALLY.
I have just finished my third read threw of SRDC I and have picked up some more nuances I did not get before.
I have found it helpful to print at least everything that Master OrangeRoshen has posted keep them in a notebook and make notes on the printouts including questions.. There are riddles to unfold. If it was just given out you would not be interested and would fade to the dark side. Persevere.
Ahead of you now is the SRDC II in it you will find a path to the Jedi conference room. Be sure to have a firm grasp on SRDC I before participating as the Jedi are excited and sometimes there sabers flash in real battle and padawans may misunderstand and be injured.
Attached is a picture of a star ship breaking threw into SRDC II. This is a real picture bye the way not doctored.

http://i13.tinypic.com/3ztx0ef.jpg
  • #619
  • Dec 10, 2006 1:46pm Dec 10, 2006 1:46pm
Hi everyone ,
first of all i really wanted to thank orange roshan for sharing such a great system , i've just finished reading the thread , and im currently reading srdc level 2 . So i just found broker "efx group" and they have spread 1-2 pips , i think it could be the perfect broker for this 5 pip system , so i wanted to ask u guys if ur already trading with them . By the way what are the best brokers (reliable , low spread ) for this system , and which of them show charts during weekends ? I ve got my broker from russia , but they dont show charts at the weekends . So if anyone could help , i would really appreciate it .

Oh and i live in Tashkent (Uzbekistan) so is it possible to open an account at US brokers ?
thanks for the support .
  • #620
  • Dec 10, 2006 2:21pm Dec 10, 2006 2:21pm
Quoting Iskander
Hi everyone ,
first of all i really wanted to thank orange roshan for sharing such a great system , i've just finished reading the thread , and im currently reading srdc level 2 . So i just found broker "efx group" and they have spread 1-2 pips , i think it could be the perfect broker for this 5 pip system , so i wanted to ask u guys if ur already trading with them . By the way what are the best brokers (reliable , low spread ) for this system , and which of them show charts during weekends ? I ve got my broker from russia , but they dont show charts at the weekends . So if anyone could help , i would really appreciate it .

Oh and i live in Tashkent (Uzbekistan) so is it possible to open an account at US brokers ?
thanks for the support .
I personally use Oanda to trade this system. Check http://www.oanda.com/cgi/new_account_reg, Uzbekistan is listed as an available country. During high volume times, London and NY sessions there are often sub 2 spread on eur/usd and sub 3 on gbp/usd. They do have weekend charting, they are open 24/7, though it isnt metatrader charting and is not very high quality. I hope this helps a little.
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