The best person to ask is OR. I am looking at him for my answers. But if you have a question for me or anybody else, don't hesitate, - the common goal is to learn and we help each other as much as we can here.
Cheers,
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Joined Jun 2006
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Status: What, NO STOPS !!
|430 Posts
Quoting Lohr
Disliked
I entered the AUD last night
H - .7888
L - .7837
Entry @ .7891 (spread +1)
High point of last night: .7894
So, no PT hit and a big loss due to news this morning.
If anyone is doing this still? Or is everyone over in SRDC II?
If anyone is doing this I'd like to know what was done wrong, if anything. I just started this 2 nights ago and it seems breakeven.
What gives?
Ignored
Well could be a couple of things. # 1 in 4X nothing is 100%, not really true the market will go up and down 100% of the time. If you see a flat line something is turned off.
#2 Not sure where you got h of .7888 it was more like .7876 and the low was .7832. But don't feel bad I still read the # wrong. Everybody does. Wait till you put a trade in and are looking at the wrong chart. You will then feel the force of the dark side. Do a bunch of manual back testing to get a feel for what happens.
May the force be with you.
I am not sure how experienced you are but I can tell you that trading at newstime is very risky and the spread is increased by most brokers. SRDC 1 is alive and well even those that are involved with SRDC 2 will trade SRDC 1. Read the thread join TeamSpeak where all levels are welcome and if you are a beginner I would suggest that you check the news calendar and stay away from trading during major news announcements. I hope this help
Good luck
Quoting Lohr
Disliked
I entered the AUD last night
H - .7888
L - .7837
Entry @ .7891 (spread +1)
High point of last night: .7894
So, no PT hit and a big loss due to news this morning.
If anyone is doing this still? Or is everyone over in SRDC II?
If anyone is doing this I'd like to know what was done wrong, if anything. I just started this 2 nights ago and it seems breakeven.
I am not sure how experienced you are but I can tell you that trading at newstime is very risky and the spread is increased by most brokers. SRDC 1 is alive and well even those that are involved with SRDC 2 will trade SRDC 1. Read the thread join TeamSpeak where all levels are welcome and if you are a beginner I would suggest that you check the news calendar and stay away from trading during major news announcements. I hope this help
Good luck
Ignored
For the TS, what if i dont have a mic? can i still join and just listen to you guys?
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,
Ignored
I removed the chart, it really belongs to SRDC level2.
Sorry if it caused some confusion to anybody.
hI
Can anybody tell me which candle to use on a Tuesday to Friday - I know on Monday you would use the sunday candle to set up for Monday. But how do you progress for the rest of the week. Is the closing candle for the previous day or what and is the daily chart or the 1 hr chart?
hI
Can anybody tell me which candle to use on a Tuesday to Friday - I know on Monday you would use the sunday candle to set up for Monday. But how do you progress for the rest of the week. Is the closing candle for the previous day or what and is the daily chart or the 1 hr chart?
Thanks
Ignored
If you read the word document again, OrangeRoshan already stated that make 2 lines for S&R on previous daily candle.
So for example if today is Tuesday, so you should use Monday candle(previous daily candle). The lines is plotted on previous daily candle high and low.
Hi, orange i have been reading this forum for days. I like your post, it has help me understand resistance and support which i can't reading professional ebooks. Your explanation is very simple and I would like to try your system. I am trading with a broker who has 10 pips spread. Aside from that my broker also gets $70 commission per trade I do. My deal with them cause they are the only local broker in our country. I would like to know how i can use your system on my broker. Please do enlighten me. I trade both GBP/USD and EUR/USD. 1 pip is equal to $10 for me also. Thank you
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Joined Jun 2006
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Status: What, NO STOPS !!
|430 Posts
To Glenn6000 and mjamep21
Glenn; the EA is not avaiable, as you study you will learn why.
mjanep21; What country are you in you may want to consider moving. There is no reason to handicap yourself with those type of pip spreads and the commision should get your broker beat with a bunch of wet reeds, or whatever. There are ton's of threads around to help you find a broker.
Hi, orange i have been reading this forum for days. I like your post, it has help me understand resistance and support which i can't reading professional ebooks. Your explanation is very simple and I would like to try your system. I am trading with a broker who has 10 pips spread. Aside from that my broker also gets $70 commission per trade I do. My deal with them cause they are the only local broker in our country. I would like to know how i can use your system on my broker. Please do enlighten me. I trade both GBP/USD and EUR/USD. 1 pip is equal to $10 for me also. Thank you
Ignored
Change Broker!! They are many around. Im in Asia, but my brokers are all over the world. You can TT the Money to them and they will wire your withdrawl straight into your chosen bank account, whereever they might be located.
Glenn; the EA is not avaiable, as you study you will learn why.
Ignored
Can u explain me on this more further...im a bit loss here..on the previous post i noticed that you guys are working hard on the EA and i suppose i was a success..
Hi, orange i have been reading this forum for days. I like your post, it has help me understand resistance and support which i can't reading professional ebooks. Your explanation is very simple and I would like to try your system. I am trading with a broker who has 10 pips spread. Aside from that my broker also gets $70 commission per trade I do. My deal with them cause they are the only local broker in our country. I would like to know how i can use your system on my broker. Please do enlighten me. I trade both GBP/USD and EUR/USD. 1 pip is equal to $10 for me also. Thank you
Hi all, newbie here. I have not read every thread but I did read the beginning and I do not see anyone clearly answering the question that is lingering in my little head. The instructions for this trade say:
<DIR><DIR>Draw support and resistance on any of the previous bar. For newbies and JaJa Binks, Support is the lowest price of the candle and Resistance is the highest price of the candle. Draw horizontal lines.
Do you see the next candle penetrating the lines?
</DIR></DIR>a. YES: That’s your trade
Forgive the dumb q but what is my trade? In other words, how many daily candles are we looking at? I know what support and resistance is, but what is being referred to in this trade? Usually S and R are based on weeks or even months of charts but I do not see where you enter a trade based on one day of a candle going above (for going long) ....what? Above the previous day or the previous obvious resistance level? For resistance levels on a daily chart, I would think that the number could vary by quite a few pips since no resistance number is exact if you are basing it on the resistance level of say, a few weeks ago. I hope there is a simple answer. Maybe someone could provide a screen shot with example trade? Thanks!
Hi all, newbie here. I have not read every thread but I did read the beginning and I do not see anyone clearly answering the question that is lingering in my little head. The instructions for this trade say:
<dir><dir>Draw support and resistance on any of the previous bar. For newbies and JaJa Binks, Support is the lowest price of the candle and Resistance is the highest price of the candle. Draw horizontal lines.
Do you see the next candle penetrating the lines?
</dir></dir>a. YES: That’s your trade
Forgive the dumb q but what is my trade? In other words, how many daily candles are we looking at? I know what support and resistance is, but what is being referred to in this trade? Usually S and R are based on weeks or even months of charts but I do not see where you enter a trade based on one day of a candle going above (for going long) ....what? Above the previous day or the previous obvious resistance level? For resistance levels on a daily chart, I would think that the number could vary by quite a few pips since no resistance number is exact if you are basing it on the resistance level of say, a few weeks ago. I hope there is a simple answer. Maybe someone could provide a screen shot with example trade? Thanks!
Brett
Ignored
Hi Brett,
You may want to read the thread. If you do, alot of your questions will be answered. When the daily support or resistance is broken that is your trade.
Dave
If you can't swim with the sharks
stay out of the water!
Yes, i am changing my broker but i have two open positions (float), very big negative balance. I need to get out from these positions first before I can change my broker. I have allowed myself to be buried so deep in the soil. I am hoping your system orange will help me. Please do enlighten me. Thank you so much
