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SRDC Episode I

  • #641
  • Dec 11, 2006 5:12pm Dec 11, 2006 5:12pm
anyone tried this on GBP/JPY?
  • #642
  • Dec 11, 2006 5:23pm Dec 11, 2006 5:23pm
Please have a look, and tell me if this is correct.
Based on what I read, I am going in long now because the candle broke resistance, correct?
CCI also confirms long.
Thank you all.
Attached Image
Steve
  • #643
  • Dec 11, 2006 5:28pm Dec 11, 2006 5:28pm
To dcoats and Mama007 hope this helps.

when im pointed my mouse at the sunday candle, the time and date was 2006.12.10 00:00GMT(for daily timeframe) and 2006.12.10 22:30GMT(for 1m to 30m timeframe). the monday candle 2006.12.11 00:00GMT

I dont know if the sunday candle open time is correct or not.

For the S&R:
support:1.9524
resistance: 1.9549
Attached Image
  • #644
  • Dec 11, 2006 5:30pm Dec 11, 2006 5:30pm
Quoting PipSteve
Please have a look, and tell me if this is correct.
Based on what I read, I am going in long now because the candle broke resistance, correct?
CCI also confirms long.
Thank you all.
My new daily candle havent started out yet?

whats that daily open time?
  • #645
  • Dec 11, 2006 5:34pm Dec 11, 2006 5:34pm
Quoting Balflear
My new daily candle havent started out yet?

whats that daily open time?
Using MIG demo account, my candle started 34 minutes ago.
Steve
  • #646
  • Dec 11, 2006 5:42pm Dec 11, 2006 5:42pm
Quoting PipSteve
Using MIG demo account, my candle started 34 minutes ago.
From your attached screenshot, ive saw that mig also have sunday candle?

hows your trade on sunday to monday candle?

Im still trying to learn to trade the sunday to monday candle.

thanks
  • #647
  • Dec 11, 2006 5:42pm Dec 11, 2006 5:42pm
Quoting Balflear
To dcoats and Mama007 hope this helps.

when im pointed my mouse at the sunday candle, the time and date was 2006.12.10 00:00GMT(for daily timeframe) and 2006.12.10 22:30GMT(for 1m to 30m timeframe). the monday candle 2006.12.11 00:00GMT

I dont know if the sunday candle open time is correct or not.

For the S&R:
support:1.9524
resistance: 1.9549
oN METATRADER i DONT GET A SUNDAY CANDLE IT JUST GOES FROM FRIDAY TO MONDAY MORNING - VERY FRUSTRATING - CAN U TELL ME THE CLOSE AND OPEN OF MONDAY'S CANDLE PLEASE - TO CHECK WHERE I AM NOW ON MY CHART
THANKS
mama
  • #648
  • Dec 11, 2006 5:49pm Dec 11, 2006 5:49pm
Quoting Mama007
oN METATRADER i DONT GET A SUNDAY CANDLE IT JUST GOES FROM FRIDAY TO MONDAY MORNING - VERY FRUSTRATING - CAN U TELL ME THE CLOSE AND OPEN OF MONDAY'S CANDLE PLEASE - TO CHECK WHERE I AM NOW ON MY CHART
THANKS
I think the sunday candle depends on the broker.

Like master OrangeRoshan said (on previous post) just open an interbankfx demo for charting, and trade using your current broker.

Like ive post before, Monday daily opens at 00:00GMT. So like my timezone is GMT+8, it will be 8.00AM for me.

For Sunday candle to open, i think its around 22:00 - 22:30GMT.

might ask OrangeRoshan for this.
  • #649
  • Dec 11, 2006 9:00pm Dec 11, 2006 9:00pm
Thanks Balflear,

I guess it's just the hours before 00:00 GMT (if your Monday Daily bar opens at 00:00 GMT). Thanks again for your help.
  • #650
  • Dec 12, 2006 7:08am Dec 12, 2006 7:08am
Hi there OrangeRoshan,

I've found your method yesterday and i decided to try it on my ifbx live account today (12nd December 2006). I followed your method accordingly, but i need your clarification on this :-

As usual, at GMT 0000, that's 8.00 a.m. here in Malaysia, i looked at EurUsd Daily - hi 1.3265 , lo 1.3130 : I put on buy stop @ 1.3269 S/L 30 pips @ 1.3239 and T/P 5 pips @ 1.3274. But somehow, my stop-loss triggered and i lost 30 pips.

But my GbpUsd has gave me 5 pips, and by the time i 'm posting this, my Audusd is still in negative 13 pips from the buy stop order triggered.

Just want to have your view on this, how could i have been wrong in my eurusd position? Or it is just another usual thing to happened? Pls bro, i really need your advice on this..

Terima kasih.
Salam.
  • #651
  • Dec 12, 2006 8:29am Dec 12, 2006 8:29am
Quoting Pipkeeper
Hi there OrangeRoshan,

I've found your method yesterday and i decided to try it on my ifbx live account today (12nd December 2006). I followed your method accordingly, but i need your clarification on this :-

As usual, at GMT 0000, that's 8.00 a.m. here in Malaysia, i looked at EurUsd Daily - hi 1.3265 , lo 1.3130 : I put on buy stop @ 1.3269 S/L 30 pips @ 1.3239 and T/P 5 pips @ 1.3274. But somehow, my stop-loss triggered and i lost 30 pips.

But my GbpUsd has gave me 5 pips, and by the time i 'm posting this, my Audusd is still in negative 13 pips from the buy stop order triggered.

Just want to have your view on this, how could i have been wrong in my eurusd position? Or it is just another usual thing to happened? Pls bro, i really need your advice on this..

Terima kasih.
Salam.
Your SL in EUR is too tight.

GBPUSD & EURUSD 50SL
AUDUSD 35SL

Sentiment change after th FOMC

Keep all trades until SL or TP is hit even until the next day.
When its following the trend, take TP highre than 5pips.
Losing trade 2day means winning tommorow. More win s than Losing.

Happy Pippin
Change Your Thinking. Change Your Life - JD
  • #652
  • Dec 12, 2006 9:24am Dec 12, 2006 9:24am
PipSteve,

I'm sorry for not responding earlier. The chart you posted revolves around the Sunday candle and from the looks of it you played it just like I would. The odds are that the Monday candle will always go opposite of the Sunday candle but I play them both way -- if, however, the price breaks the same direction as the Sunday candle I would recommend taking your quick profit, or locking in at least 5 pips with a stoploss.

And yes if the daily candle high is 1.9525 and the low is 1.9500 I would set my orders at 1.9530 and 1.9495 respectively, straddling the previous day's candle.

Hope that helps.

Cheers,
Jeff
  • #653
  • Dec 12, 2006 12:43pm Dec 12, 2006 12:43pm
Quoting investingjeff
PipSteve,

I'm sorry for not responding earlier. The chart you posted revolves around the Sunday candle and from the looks of it you played it just like I would. The odds are that the Monday candle will always go opposite of the Sunday candle but I play them both way -- if, however, the price breaks the same direction as the Sunday candle I would recommend taking your quick profit, or locking in at least 5 pips with a stoploss.

And yes if the daily candle high is 1.9525 and the low is 1.9500 I would set my orders at 1.9530 and 1.9495 respectively, straddling the previous day's candle.

Hope that helps.

Cheers,
Jeff
Thank you Jeff for the explanation. It sounds like you create 2 limit orders? I guess to make sure you are covered either way.

BTW, the SRDC journal is a great way to discuss those strategies. Between this amd TS, I should be able to full understand this system soon.

I am honered to be amongs all of you, even so my head is still spinning when I hear you (the group) talk about your analysis.
Steve
  • #654
  • Dec 13, 2006 2:58am Dec 13, 2006 2:58am
Hi there Orange,

Thank you for your explanation. Now i understand why my SL has been triggered. But only one thing is still not clear, you said that when its following the trend, take TP higher than 5 pips. Could you elaborate further on that? Another thing, how many position / lot should we open on one pair?

Thank you.
  • #655
  • Dec 13, 2006 3:21am Dec 13, 2006 3:21am
Quoting PipSteve
Thank you Jeff for the explanation. It sounds like you create 2 limit orders? I guess to make sure you are covered either way.

BTW, the SRDC journal is a great way to discuss those strategies. Between this amd TS, I should be able to full understand this system soon.

I am honered to be amongs all of you, even so my head is still spinning when I hear you (the group) talk about your analysis.
Yes ive agreed with you about the journal.

Im still a newbie and the journal gives a lot of info for me. Havent join the ts yet though.

Hopes that many high ranked jedi will help me in the futere.

All the best.
  • #656
  • Dec 13, 2006 3:31am Dec 13, 2006 3:31am
Quoting Pipkeeper
Hi there Orange,

But only one thing is still not clear, you said that when its following the trend, take TP higher than 5 pips. Could you elaborate further on that?

Thank you.
From what I understand, if a trend is generally up.. use about 3 weeks ago against USD for example. Since the trend is strong up on gbp/usd and there is a break to the top from the previous days High, do not settle for just those 5 pips. Instead target 15-20 etc.

I am not certain if that is what Orange is getting at, just what I have been noticing. Best to go with the trend : ).
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #657
  • Dec 13, 2006 6:31am Dec 13, 2006 6:31am
Hello Orangeroshan,

I am starting to feel the force.The force is strong i can feel it..Found your method last week. Backtest it for the first time yesterday and got close to 80 pips!! Quote from the master, "piptastic!!"

One question though, is it me or today ( 13/12/06 ). The market is kinda slow.

May the pips be with you.
  • #658
  • Dec 13, 2006 9:38am Dec 13, 2006 9:38am
Quoting lietuve
Here are two channels today. The red one is daily projected on H1 chart. As it looks to me, prices on the H1 weren't "dancing around the middle line" as OR would say. They went up too fast, too steep, and got into upper Quarter of a Daily channel. So when they were in the lower quarter of H1 channel, where by the rules of H1 I should buy, I didn't do it because by the daily rules I should sell; there was some hesitation in the price move there - but the daily trend won: price went down to the very bottom of the daily, and now they are bouncing from there.
Very interesting. I bought at the bottom. Let's see what's going to happen.
What you post here is for SRDC lv2.

Most newbie (like myself) will get confuse later if they havent peeked at SRDC lv2.
  • #659
  • Dec 13, 2006 10:17am Dec 13, 2006 10:17am
Quoting Balflear
What you post here is for SRDC lv2.

Most newbie (like myself) will get confuse later if they havent peeked at SRDC lv2.
LOL... I thought we are in a tread SRDC level 2.
What I've posted here are two charts put into one, so I don't have to switch between them, it's easier to spot the most important areas of decisions this way. Everything else, is of course, OR's logic the way I understand him.
Read the whole thread if you are a newbie. There is no "fast" way to know if you don't know the facts. BTW I am still learning too...
Cheers,
  • #660
  • Dec 13, 2006 10:29am Dec 13, 2006 10:29am
Quoting lietuve
LOL... I thought we are in a tread SRDC level 2.
What I've posted here are two charts put into one, so I don't have to switch between them, it's easier to spot the most important areas of decisions this way. Everything else, is of course, OR's logic the way I understand him.
Read the whole thread if you are a newbie. There is no "fast" way to know if you don't know the facts. BTW I am still learning too...
Cheers,
Well i did read the whole thread and fully understand SRDC lv1. Currently now trying to finish reading SRDC lv2 thread .

what i mean is that other newbies might get confused if they havent read the whole thread, or if they did read they will probably ask questions about your post if they assumed that your post is also SRDC lv1.

Yes im also still learning too, hope we can help each other.
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