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SRDC Episode II

  • #581
  • Dec 6, 2006 7:54am Dec 6, 2006 7:54am
[quote=aha]Hey Lietuve,

Can you tell me when you put the fibo channels on and why you put the fibo channel in a downward direction at the time (against the major trend)? Maybe I can incorporate your wisdom into the I-LRC indicator.

aha

Hi, aha.
I appologize for responding so late to your question. As jedies would say my batteries needed to be refilled (I slept a lot). Than again, rereading my post I think it sounded kind of critisizing or rude. Nothing further from my mind. I love this thread, I appreciate your work, all I wanted - to be of as much help as I can. Unfortunately this concept of countertrend of mine is very easy to show, but not easy to explain (having in mind my faulty English). All I can say in a short response is: the parameters of Fibo retracement tool and Fibo channels has as a parameters data and values for that data in it. It depends where you put the data and value of the Highest value, where you put the data and value of the Lowest value you want the tool to calculate, in case of the Fibo channels tool, there is also a data and value to put in as a width of a channel. To make the lines more precise I enter the data there instead of drawing the lines by hand (which is good for EA - because you can reffer to a specific time and a specific price, not beeing just Highest n periods ago, but Highest/Lowest from date... to date...) but these are just details we can talk later if you are interested). So, while following the trend I use it as a "countertrend" tool kind of "in case this happens, what is going to happen..." and update it every time a significant move in an established trend occurs (I enter a new time and price values). So I cannot show you how it worked in the past, but it is so easy! I made two shots of charts of eurusd from the past - you will see what I mean - the fibo retracements and fibo channels and how it worked. I can paste only one chart at a time, so it'll take a lot of space in a thread (my appologies for those who are not interested).
Also feel free with any constructive critisizm, I have a thick skin and I have seen it all
Here goes the first chart...
Attached Image
  • #582
  • Dec 6, 2006 7:56am Dec 6, 2006 7:56am
and here what happened later - that's why am so cautios about having this setup "just in case".

My regards,
Attached Image
  • #583
  • Dec 6, 2006 8:00am Dec 6, 2006 8:00am
in regards to the last chart, at that point the new channel would be up and going with its witdh and followed by additional Fibo retracement channels (not flipped) so the major intersections could be seen.

I hope it helps.
  • #584
  • Dec 6, 2006 8:38am Dec 6, 2006 8:38am
The LRC channel (Cable, as drawn by the indicator) was breached more than 24 hours ago, as we can see, and has not redrawn. I know we abandoned SHI a while back because it redrew too often - I'm just wondering if there is some middle ground that could be acceptable to everyone. The basic idea of using a channel-type indicator is twofold - to provide a price range, arbitrary though it may be, and to show the direction of the market. If the channel delays too long in responding to large price action it isn't as useful as it could be in doing either of these things. Just MHO, of course.

Best to all,
Lou
Old Benjamin was right
  • #585
  • Dec 6, 2006 9:05am Dec 6, 2006 9:05am
Just another quick thought and I'll go about my business. No offense to anyone that is big on TeamSpeak but it can have the effect of unintentionally excluding those of us who cannot be online a large part of the day. For example, I recently missed the whole introduction of quadrants. Fortunately, O.R. was kind enough to post that information to the forum so I was able to catch up. The fact that TeamSpeak can be recorded is not a big help to me because I simply can't clear enough hours in my day to be online or to listen to the recorded sessions - it's all I can do to read through the new posts on this forum in the morning and evening to keep up to speed. Perhaps one of the proponents of TeamSpeak could make sure that anything really crucial to the understanding of SRDC is eventually posted to the forum?

Once again, I mean no offense to anyone. The explication of SRDC has been a big eye-opener to me (basically, a beginning trader) and I plan to stick around for the whole thing.

Thanks to all,
Lou
Old Benjamin was right
  • #586
  • Dec 6, 2006 10:10am Dec 6, 2006 10:10am
Quoting Lou G
Just another quick thought and I'll go about my business. No offense to anyone that is big on TeamSpeak but it can have the effect of unintentionally excluding those of us who cannot be online a large part of the day. For example, I recently missed the whole introduction of quadrants. Fortunately, O.R. was kind enough to post that information to the forum so I was able to catch up. The fact that TeamSpeak can be recorded is not a big help to me because I simply can't clear enough hours in my day to be online or to listen to the recorded sessions - it's all I can do to read through the new posts on this forum in the morning and evening to keep up to speed. Perhaps one of the proponents of TeamSpeak could make sure that anything really crucial to the understanding of SRDC is eventually posted to the forum?

Once again, I mean no offense to anyone. The explication of SRDC has been a big eye-opener to me (basically, a beginning trader) and I plan to stick around for the whole thing.

Thanks to all,
Lou
Good point Lou and I think you be happy with what will soon be posted here in the forum as a result of what we are learning in Teamspeak. It was never my intention or anyone else involved with Teamspeak to exclude anyone here or to do anything but enhance this thread. But to answer your concerns we have addressed the needs of this thread and we will be posting anything we cover in Teamspeak. But also understand for those of us who are using Teamspeak we are learning much more quickly than we could ever do by waiting for OR to respond to our question. In the future we will be ever mindfull of those who do not get in to Teamspeak and will post what happens there, in this thread.
  • #587
  • Dec 6, 2006 10:24am Dec 6, 2006 10:24am
Well,

I agree with Lou G, cgldsmth and all friends who have some difficulty to stay on line listen the last information about the SRDC in the TeamSpeak. No offense to anyone too, but I have work early and english is not my native language, so I have some dificulty to understand what master Orange speaking and teaching, and what my friends speaking too. Ok, you gone say thats my problem, but I think if someone could, after have the gold lessons with master Orange, post the last thought about this great system. Its more easy read then listen Im a begginer trader too who wants become an strong JEDIPIPER

One more time, no offense to anyone.
Ricardo Oliveira = RRBO
  • #588
  • Dec 6, 2006 10:39am Dec 6, 2006 10:39am
May I have your attention please.

In a moment I'll be posting the rules to draw the LRC. This is the result of our
TeamSpeak session today, so please hold on.

Something else. For those not attending or not being able to make it to the
TeamSpeak sessions, don't worry, we'll try to do our best to inform on any
updated rules we may learn from the Pipmaster Jedi himself, so don't feel
alienated.

A last request. In order to advance with the Level II we have to master the use
the channels, therefore, right now, we should concentrate on mastering this
point.
  • #589
  • Dec 6, 2006 11:29am Dec 6, 2006 11:29am
Great stuff, all! We all learn at different rates, in different ways. I know what would help me is if there are some "meeting times". Seems there are times when Orange can be with us and others that we could meet to discuss trades, mechanics, etc. Any thoughts?

- Dan
  • #590
  • Dec 6, 2006 11:31am Dec 6, 2006 11:31am
Tia: Yeah, that's a bug about redrawing. Accrete pointed it out to me last night and I will fix it soon.

Howard: yeah it changes direction automatically but now trend detector is using too much confirmation for commiting to a new trend so it still sticks to its original course. I anticipate it change direction later today. But I had some discussion with Orange and will try to speed up the process a little. Hopefully it won't become too sensitive.

Lietuve: Interesting tools. I guess if you find the right high/low you would have success rate. At this point I am not going to touch all that... get many complaints on the LRC business ... maybe late.

Lou: Will make it redraw faster. Yeah, SRDC got some real deal there.

To all I-LRC users: thanks for all the positive critiscism. No offence taken. But be careful with this indicator, it is still under development. Believe it or not, Orange and I only started discussing the trend change mechanism since last night. It will be improved gradually. For now if you are not happy with what you see, you may draw LRC manually.
Target: Trading naked.
  • #591
  • Dec 6, 2006 11:52am Dec 6, 2006 11:52am
A couple of todos in mind. Let me know if I am missing any.

1. Fix the problem that it deletes all the objects when switching between timeframes.
2. Recognize the new trend on the 1st day (GMT 0:00) after the channel is broken.
3. Update LRC after every hour (optional).
Target: Trading naked.
  • #592
  • Dec 6, 2006 12:09pm Dec 6, 2006 12:09pm
OK, after the TeamSpeak session today, that's the way our channels should look
like (without the Quadrant Lines) and these are the facts to consider for
correctly drawing them:

We use The LRC channel. This is LINEAR REGRESSION CHANNEL. This is standard on
MT4 charts. Go to Insert>Channels> Linear Regression. (Forget Quadrants, and
Fibs for now)

Daily:

1)According to Roshan, the Big Boys draw their channels at the beginning of the
month. This means, we are in a downtrend and we have a Sell bias.

2) To properly draw the LR channel, place it on the MONTHLY divider and pull it
to YESTERDAY'S CANDLE. We use Yesterday's candle because it's a completed
candle.

3) Pull the right side of the LR channel every DAY to the new completed candle.
To do that, double click on the median line. You'll see three points. Pull the
one on the right side to the new completed candle.

4) At the beginning the month (trading days 1 and 2), since we still don't have
enough candles to draw the LR channel, we have to use the last few candles from
the previous month.

http://picnac.com/images/1364DailyCH1.gif

1 Hour LRC

1) We draw it at the beginning of the week, this is Monday 00:00, and move it
accordingly every 24 HOURS. Same procedure as daily.

2) As on the daily, when starting a new week, this is early Monday, we have to
use late Friday/Sunday candles.

http://picnac.com/images/37631h.gif

3) Now, this is something new we learned today during the TS session with Jedi Master Roshan. If for any reason
(news) there's a big spike and price goes WAY BEYOND the Channel limits, once
its completed, we can re- draw the channel by pulling the right side point of
the LRC to the spike/candle. This way we are up to the hour on the newly
adjusted channel levels.

http://picnac.com/images/60691h2.gif

Hope this helps.

Henry

PS: Quadrant explanation follows.
  • #593
  • Dec 6, 2006 12:46pm Dec 6, 2006 12:46pm
Quoting hensch
May I have your attention please.

In a moment I'll be posting the rules to draw the LRC. This is the result of our
TeamSpeak session today, so please hold on.

Something else. For those not attending or not being able to make it to the
TeamSpeak sessions, don't worry, we'll try to do our best to inform on any
updated rules we may learn from the Pipmaster Jedi himself, so don't feel
alienated.

A last request. In order to advance with the Level II we have to master the use
the channels, therefore, right now, we should concentrate on mastering this
point.
Hello,

Please forgive me for asking but at what time (in GMT spacetime co-ordinates) do the sessions take place. Are there set times or are they impromptu?

Thanks,
  • #594
  • Dec 6, 2006 12:46pm Dec 6, 2006 12:46pm
Thank you Jedi Hensch and Master OrangeRoshan! I now FULLY understand the drawing of the channels.

Now on to two additional questios:

1) Now that I have a channel - how do I use it to determine a trade? I know this is a general question. I have read the entire thread - but I am unsure due to the different opinions and the changes along the way.

2) Now fibbos? How to draw them and use them. Didnt find this clear either.

Thanks folks - all of you here are honorable jedi!

SirWolf
Believe and Achieve!
  • #595
  • Dec 6, 2006 12:57pm Dec 6, 2006 12:57pm
Great post Henry and I think you have done a fantastic job of conveying OrangeRoshan's message from today's Teamspeak session. I hope this will show everyone here we will not forget about the thread but will support it even better than before. The thread is why we are here in the first place. On a personal level, I will copy and print this post for my trading book. Great use of charts and description. I actually went back and made some adjustments after reading your post.

Thanks,
  • #596
  • Dec 6, 2006 12:58pm Dec 6, 2006 12:58pm
The Quadrants concept was introduced to the LII last Monday.

The idea is to divide the channel in four sections where we can orderly enter trades.

The idea is this:

Bearish Trend

http://picnac.com/images/5693QUAD.gif


Do the opposite in a Bull Trend.

According to OR (in a previous post) the guidelines for a ranging market are as follows:

Q1: SELL
Q2: Wait until it goto Q1 or Q4
Q3: Wait until it goto Q1 or Q4
Q4: BUY

So far, that's all we know on the subject.

Henry.
  • #597
  • Dec 6, 2006 1:06pm Dec 6, 2006 1:06pm
Quoting exastris
Hello,

Please forgive me for asking but at what time (in GMT spacetime co-ordinates) do the sessions take place. Are there set times or are they impromptu?

Thanks,
So far, OR has made two (really great)unannounced appearances on the room.

We are trying to get organized and see if we can have sort of a schedule.
However, we have to keep in mind that, in a previous post, OR mentioned somewhere
that at this present time of the year he's real busy and it may be difficult for
him to set a plan.
  • #598
  • Dec 6, 2006 1:08pm Dec 6, 2006 1:08pm
Hi Henry,

Thanks for your help. Can you please cary on and tell us how to draw the 2 middle trend lines? and how to adjust them to the tunnel.

Thanks
Michelle


Quoting hensch
OK, after the TeamSpeak session today, that's the way our channels should look
like (without the Quadrant Lines) and these are the facts to consider for
correctly drawing them:

We use The LRC channel. This is LINEAR REGRESSION CHANNEL. This is standard on
MT4 charts. Go to Insert>Channels> Linear Regression. (Forget Quadrants, and
Fibs for now)

Daily:

1)According to Roshan, the Big Boys draw their channels at the beginning of the
month. This means, we are in a downtrend and we have a Sell bias.

2) To properly draw the LR channel, place it on the MONTHLY divider and pull it
to YESTERDAY'S CANDLE. We use Yesterday's candle because it's a completed
candle.

3) Pull the right side of the LR channel every DAY to the new completed candle.
To do that, double click on the median line. You'll see three points. Pull the
one on the right side to the new completed candle.

4) At the beginning the month (trading days 1 and 2), since we still don't have
enough candles to draw the LR channel, we have to use the last few candles from
the previous month.

http://picnac.com/images/1364DailyCH1.gif

1 Hour LRC

1) We draw it at the beginning of the week, this is Monday 00:00, and move it
accordingly every 24 HOURS. Same procedure as daily.

2) As on the daily, when starting a new week, this is early Monday, we have to
use late Friday/Sunday candles.

http://picnac.com/images/37631h.gif

3) Now, this is something new we learned today during the TS session with Jedi Master Roshan. If for any reason
(news) there's a big spike and price goes WAY BEYOND the Channel limits, once
its completed, we can re- draw the channel by pulling the right side point of
the LRC to the spike/candle. This way we are up to the hour on the newly
adjusted channel levels.

http://picnac.com/images/60691h2.gif

Hope this helps.

Henry

PS: Quadrant explanation follows.
  • #599
  • Dec 6, 2006 1:17pm Dec 6, 2006 1:17pm
Another great post. I have cut and pasted your posts on quadrants and channels into a word document - going to create my own little manual. You captured the concepts perfectly. Now all I need is fibos to round out SRDC #2

Thanks again!

SirWolf
Believe and Achieve!
  • #600
  • Dec 6, 2006 1:22pm Dec 6, 2006 1:22pm
Im Speechless and honoured by the team commitment to covey the method especially during TeamSpeak.

Henry is doing an excellent job doing the charts and explaination. Superb, especially without my Jedlish. Aha with his relentless talent making the indicators, making it easier for everyone to draw those damn channels. Mellissa and Tradebill are superb innovator and host of TeamSpeak. Pipastic

For the rest that I didnt your name. Your efforts are also very much appreciated and Im so happy, the team spirit of helping each other is alive.

Quite true, my time is very limited now. 1,000 Jedi apologies. Will, try to answer PM and post as fast as possible.

When anyone is truly want to be successful, learn the channel trading and understand it. Adding it with you other methods, you will pips. Amin!

May the force be with everyone!
Change Your Thinking. Change Your Life - JD
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