SRDC Episode II

Quoting investingjeff

Disliked

Use the QuickConnect option to attempt to login. I received the "Error" message as well and then removed my nickname all together and was able to login as "guest" -- it was because I had my nickname in the wrong field. hope that helps!

Cheers,
Jeff

Ignored

Quoting hensch

Disliked

Good question Lou.

If we follow the system, we know that in a bearish trend we are only allowed to
go counter-trend at Q4.

As you correctly point out, in a down trend, that's going to be a
retracement so caution must be used, because it may reverse at any time and
resume the trend.

To re-enter again in the direction of the trend, Q2 and Q1 are the ideal spots to do so.

In other words, it becomes a bouncing game.

Opposite in an uptrend.

Hope this helps.

Henry

PS, I knew I'd forget someone on my "Thank You" list. Lou, Aha, Accrete.... U da Men!

Thanks for your efforts, really appreciated.

PPS: Mmmmm, sure I'm forgetting someone else.....

Ignored

Quoting lietuve

Disliked

Thanks for helping. Nope! - the huge voice is shouting at me ERROR again.
Today was a good opportunity to short gbp, but I hesitated because of 2 Interest Rate statements... wanted to talk to OR or guys in the talkroom what they are thinking... now the opportunity is gone ...

Ignored

Quoting Lou G

Disliked

Thanks Henry,

That more or less answers my question - really just wondered if O.R. had said "trade only with the trend" and I somehow missed it. Even though I experiment a lot I do try to stay within the spirit of srdc if not always the letter.

Ignored

Quoting traderlismiss

Disliked

Hi,
Hopefully this will get you in the room. The address is 24.163.41.56, then put your forex factory name in the nickname area, (not name area) password is getpips. That should get you in because that is the settings for everyone.

Ignored

Quoting accrete

Disliked

Hi all, and thank you for the warm metachlorian response on my simple template, i always enjoy passing on my doodles.

Sorry 4rex if there is still a bit of confusion, let me explain a bit more on how i placed the 4 objects shown on the chart:

1) Select the LRC Tool and draw as Henry suggested in his post for the long term LRC shown on the left part of the chart that is currently drawn from the the November 17th area low, up to the most recent high at the close of last week. I then drew another LRC from the high/begining of this week, down to the current day open. (both are set to "draw object as background" whatever color you've chosen will be the highlight color).

Now that i have both my LRCs set up per our rules i then:

2) Grabbed my FibonacciChannel Tool (have you read Dave's great doc?) and clicked and dragged up which will be sure that the quadrants are placed properly Q1 on top (if you drag down first Q1 will be on the bottom...delete and start over dragging up).

Now that you have an FC on the chart take the main grab line that has the three dots and move it in such a way as to line up with the bottom edge of the long term LRC. Now take the upper FC line with the single dot and move it to the top edge of the LRC and look at the numbers that are near this dot. One is the horizontal offset, the other is the vertical. You want the horizontal number to be zero, this means perfect vertical alignment with the beginning of the lower FC main line.

Now do the same as above on the current short term FC on the short term LRC (this weeks's new LRC).

Now when there is a spike or any need to move the LRC, do so, and then adjust the corresponding FC to match the LRCs edges.

Hopefuly that clarifies how i place it all on the chart. One thing that may not be seen at first glance on the template? If you click on the daily candle you will see the monthly LRC called "Daily LRC" and "Daily LRC Longterm". I like to name all my objects that way i won't accidentaly delete them!

POST SCRIPT:
In order for this to work on a differnt currency you will have to place the objects on that chart after opening them up on the GbpUsd chart and add a level, then delete the same level and close out the indicator box. Now MT4 knows that the tool is set to those new settings. You can now place the updated tool on the different currency pair. But remember, if all you place are objects on a chart in MT4, those "objects" will be in the template, but will not show on a different currency pair even those they do show up in the object dialog box. Simply delete them and place new ones manually.

Good Trading to all,
Thom

Ignored

Quoting John-Paul

Disliked

Hi All,

It's so great having to finally post on this awesome thread. I've gone through the whole of SRDC I and II three times. Been almost an invisible student at the TeamSpeak forum for 2 days now, always listening and tryin' to be a good Jedi (although freshly initiated ). This's a whole bunch of progressives in this forum and i really wanna comend all of U.

OrangeRoshan for being one of the rarest initiators of one (sorry 2) threads and still being largely in control. Almost all of the great threads I joined turned out creating a huge monster out of the initial framework. And the loyalty, very commendable. OR has maintained the focus of this forum by instilling discipline, hardwork and encouragement. I love him for all of it and more

Aha, Hensch, LouG, Dave, Compro, Rojam.... all of u are great. I haven't tot I was worthy of making a note up until now. Good thing for me. It's really paid off!

A lil' word of advice: Interested pipsters should always endeavour to go through the whole threads I and II. It'll put the questions down a lil and keep the thread focused.

I'd leave it at this for now. No questions yet... just tryin'a make a good first impression

Over and Out,
J-Paul

Ignored

Quoting Lou G

Disliked

Here is a continuously adjusting LRC channel indicator that I coded this morning. Though it does change with each new candle, the changes are very small (depending on number of days used and price action, of course) but I think it is a good compromise between SHI and longer-term channels.

There are two user-modifiable parameters - DaysBack and LRCColor which are what they say they are. If there is interest in this indicator I will post future revisions (incuding automatic Fibo and Monday logic) to this forum.

Ignored

Quoting aha

Disliked

My understanding is that trading against trend is risky, but if you know the pair you can profit from it using SRDC II. I haven't seen Orange saying anything like "don't trade against trend". But you have to know what you are doing and are willing to take a controlled loss.

You can trade against the trend when the price is at the Q4 for down trend and Q1 for long trend. The key is to look for the signs of the weakening of current momentum, such as a doji, etc. After the price pushed through channel boundary but withdrew back and CLOSED within the channel on H1 or greater, the channel is respected by the market. Sometimes the price will test the trend line twice, if both failed, the chance to succeed in counter trend increases. But you don't want to do this when a news release is closing in, because sometimes the price is just docking there temporarily and waiting for the news to decide the direction. As for if this is riskier than the trades that are with the trend, it's hard to tell. If you are shorting in a down trend at Q3 without examing the price pattern, the risk is pretty high too. And even if you are shorting in a downtrend at Q1, there is still a risk that the price may break the channel and change the trend direction. IMHO, this system is based on statistics that price tends to stay within a daily channel. Once for a while the price will break the channel but that doesn't happen too often to make this system a failure. In another word, you can count on it that you will win more than loss if you bet the price will stay (close) within the channel.

When the price is approaching to TL fast, no matter it is with or against the daily trend, as a human we will always hesitate to place the trade because this current price movement is a trend in a smaller scale so if I enter I will be trading against a trend (the small trend). This is why we need to trust the system and try to learn the habit of a pair. When we loss we take the controlled loss (use money management) and move on. But if we hesitate we let go an opportunity that we have more chance to win than to loss.

(In a slow and mysterious tone) Analysis leads to ... uncertainty, uncertainty leads to ... fear, fear leads to ... anger, anger leads to ... hate, hate leads to ... suffering. The future is clouded, young skywalker is in pain, dark force is strong ... keke ...

Ignored

Quoting howard

Disliked

Did we have any updates from Henry today?
Maybe there has not been any new issues.

Ignored

Quoting blewmoon

Disliked

Lou G
I am using your auto LRG channel with good effect. Sure the channel moves, but only minor. You can see the 'old' Fibo points before the LRG moved out a few degrees to encompass the new high.

I've enc. my chart BUT it is with a Black blackground, so PLEASE don't download if it hurts your eyes or you want to print it...

Got many orange/jedi pips yesterday as well.

Ignored