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SRDC Episode I

  • #681
  • Dec 17, 2006 1:37pm Dec 17, 2006 1:37pm
Brett,

Grandma says: You need to look at the previous completed candle on the Daily Chart ...no more ...no less. The rest as our padwan friend said.. read and your answers will be there.

Hope this helps




Quoting brett1234
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
All 4 1 and 1 4 All
  • #682
  • Dec 17, 2006 7:32pm Dec 17, 2006 7:32pm
Hi Padawans and Grandmas,

Instead of answering all your questions, one at the time (I have 100s a week to answer, which is almost impossible), I will post this strategy, in the hope it will help you to understand it more clearly.

Have you ever trade level I, your trade reverses and hit your stoploss, long before you get your 5pips?

Well, welcome to the secret 10/10 winning 5pips trades, well almost.
With the strategy outlined here, you can harvest more than 5-100pips without worrying too much on your trade being reverse.

The secret is 15mins chart.

In this timefrane, the candles are drawn every 15mins, therefore filtering many bad trades. The Rules are:

- Donot enter immediatelly upon penetration of S&R
- Wait until the candle that penetrate the S&R to close
- See, when the next candle is fully formed outside the S&R
- Then when it does, Trade on the next opening.
- When it doesnt (maybe partly went back into S&R) then goto back to the first rule.

.S I M P L E.


Watch the chart provided below and understand the concept. When you can grasp it, then you dont have to worry me taking part of your account. When you still cant, then as usual, I will say. "I AM SORRY".


THE FIRST CHART
- The highlated candle is the Fully formed candle after the candle penetration of S&R

- Trade on the Candle shown by the Arrows

THE SECOND CHART
- Look at the Penetration of the Resistence (TOP). In 1hr chart, that would be a loss. But, with SRDC Advanced strategy Part I, you will avoid that trade because it doesnt comply with the rules.

May JajBinks sillyness be driven away from you!
Attached Images
Change Your Thinking. Change Your Life - JD
  • #683
  • Dec 17, 2006 11:03pm Dec 17, 2006 11:03pm
Can someone here help me? I'm still confused with the Sunday candle.. which candle does that means? Is it the Friday or which one..


Thanks..
  • #684
  • Dec 17, 2006 11:25pm Dec 17, 2006 11:25pm
Quoting wan_grunge
Can someone here help me? I'm still confused with the Sunday candle.. which candle does that means? Is it the Friday or which one..


Thanks..
It is the candel that runs 2 hours on Sunday Eastern time. Usally very small. Use the period separation (as instructed) on your charts and you will see it.
  • #685
  • Dec 18, 2006 12:01am Dec 18, 2006 12:01am
Quoting bapxyz
It is the candel that runs 2 hours on Sunday Eastern time. Usally very small. Use the period separation (as instructed) on your charts and you will see it.
Do you mean before monday 0:00 GMt .. will be a sunday candle for two hours?
  • #686
  • Dec 18, 2006 8:29am Dec 18, 2006 8:29am
Quoting OrangeRoshan
Hi Padawans and Grandmas,

Instead of answering all your questions, one at the time (I have 100s a week to answer, which is almost impossible), I will post this strategy, in the hope it will help you to understand it more clearly.

Have you ever trade level I, your trade reverses and hit your stoploss, long before you get your 5pips?

Well, welcome to the secret 10/10 winning 5pips trades, well almost.
With the strategy outlined here, you can harvest more than 5-100pips without worrying too much on your trade being reverse.

The secret is 15mins chart.

In this timefrane, the candles are drawn every 15mins, therefore filtering many bad trades. The Rules are:

- Donot enter immediatelly upon penetration of S&R
- Wait until the candle that penetrate the S&R to close
- See, when the next candle is fully formed outside the S&R
- Then when it does, Trade on the next opening.
- When it doesnt (maybe partly went back into S&R) then goto back to the first rule.

.S I M P L E.

Thanks Orange, it is very simple and clear.
However, may I ask do we still need to add the Spread plus 1-2pips buff in this new ways ?

It seen I just cannot be a lazy boy just place a Buy Stop or Sell Stop order

Thomson
  • #687
  • Dec 18, 2006 10:59pm Dec 18, 2006 10:59pm
Quoting OrangeRoshan
Hi Padawans and Grandmas,

Instead of answering all your questions, one at the time (I have 100s a week to answer, which is almost impossible), I will post this strategy, in the hope it will help you to understand it more clearly.

Have you ever trade level I, your trade reverses and hit your stoploss, long before you get your 5pips?

Well, welcome to the secret 10/10 winning 5pips trades, well almost.
With the strategy outlined here, you can harvest more than 5-100pips without worrying too much on your trade being reverse.

The secret is 15mins chart.

In this timefrane, the candles are drawn every 15mins, therefore filtering many bad trades. The Rules are:

- Donot enter immediatelly upon penetration of S&R
- Wait until the candle that penetrate the S&R to close
- See, when the next candle is fully formed outside the S&R
- Then when it does, Trade on the next opening.
- When it doesnt (maybe partly went back into S&R) then goto back to the first rule.

.S I M P L E.


Watch the chart provided below and understand the concept. When you can grasp it, then you dont have to worry me taking part of your account. When you still cant, then as usual, I will say. "I AM SORRY".


THE FIRST CHART
- The highlated candle is the Fully formed candle after the candle penetration of S&R

- Trade on the Candle shown by the Arrows

THE SECOND CHART
- Look at the Penetration of the Resistence (TOP). In 1hr chart, that would be a loss. But, with SRDC Advanced strategy Part I, you will avoid that trade because it doesnt comply with the rules.

May JajBinks sillyness be driven away from you!
Thank you Master Roshan .. I will religiously follow your guidance.
  • #688
  • Dec 19, 2006 9:13am Dec 19, 2006 9:13am
Quoting wan_grunge
Can someone here help me? I'm still confused with the Sunday candle.. which candle does that means? Is it the Friday or which one..


Thanks..

On daily charts, you can see the sunday candles in the InterbankFX platform, because it has bars that close/open at GMT+0. So it depends on that.

Pablo.
Pablo
  • #689
  • Dec 19, 2006 11:41am Dec 19, 2006 11:41am
thankyou teacher,
you are a beacon of hope for us
I am happy to say that i started using your SRDC 1 methods( demo on IBFX) and eneterd only 1 lot per trade and now after 4 days i have made 691 dollars.
that is almost 70% return in 4 days.
15 pips a day may not seem much but they can go a long way i believe.
And this is minimum 15 pips because for some reason my trail lock wont work other wise it could have been many many more.
lol, talk about a newbee here.
this post is to thankyou for giving me the confidence that is needed by every novice who ventures into this field.
this post is also to give hope to all the newbees that there is vey good potential in this system, although it has been only less than 10 trades.
The only worry was the stoploss being hit and negating many days of wins , but luckily it has not happened as of yet.
And now with the new advanced system there is a chance to avaoid that as well.
Thankyou master roshan, for shredding the darkness with your jedi sword and showing us the path.
we are alll in debt to you, and this is only SRDC 1 !!!!!
salam
fouad
learn something everyday
  • #690
  • Dec 19, 2006 12:35pm Dec 19, 2006 12:35pm
Quoting wan_grunge
Can someone here help me? I'm still confused with the Sunday candle.. which candle does that means? Is it the Friday or which one..


Thanks..
I looked at Interbank and what i see is the 3 hour period on Sunday before 00:00GMT would be the same as the Sunday Candle and sometime in August it changes to the 2 hour period on Sunday before 00:00 GMT. Must have something to do with savings time. But, i think you could just use whatever trading your charts show that begins Sunday and ends 00:00GMT and it would work as well.
  • #691
  • Dec 19, 2006 3:25pm Dec 19, 2006 3:25pm
Quoting pipraker
If the daily candle is green, then you look for a long entry and you take the first entry because that may be the only one that pays.
I know this is an old post but if pipraker is still around...

I am new here and reading through Orange's thread and found one of your posts. Can I ask you about this?


Are you saying that if it was green the previous day, then you ONLY look to go long if the high is breached on the potential next day of trading? Would you go short on the next day if it dipped below the previous day's low?
I am reading through the entire thread and am having trouble figuring out where everyone is taking profits on wins after the first 5 pips. I would think that it best to take the first small profit with 1/2 lot and use the other half lot to ride a trailing stop of about 30 pips? What is everyone doing with that? I understand there may not be a consensus but I am just gathering information from those with more experience that myself. Thanks!!

Brett
  • #692
  • Dec 20, 2006 12:21am Dec 20, 2006 12:21am
Quoting OrangeRoshan
Hi Padawans and Grandmas,

Instead of answering all your questions, one at the time (I have 100s a week to answer, which is almost impossible), I will post this strategy, in the hope it will help you to understand it more clearly.

Have you ever trade level I, your trade reverses and hit your stoploss, long before you get your 5pips?

Well, welcome to the secret 10/10 winning 5pips trades, well almost.
With the strategy outlined here, you can harvest more than 5-100pips without worrying too much on your trade being reverse.

The secret is 15mins chart.

In this timefrane, the candles are drawn every 15mins, therefore filtering many bad trades. The Rules are:

- Donot enter immediatelly upon penetration of S&R
- Wait until the candle that penetrate the S&R to close
- See, when the next candle is fully formed outside the S&R
- Then when it does, Trade on the next opening.
- When it doesnt (maybe partly went back into S&R) then goto back to the first rule.

.S I M P L E.


Watch the chart provided below and understand the concept. When you can grasp it, then you dont have to worry me taking part of your account. When you still cant, then as usual, I will say. "I AM SORRY".


THE FIRST CHART
- The highlated candle is the Fully formed candle after the candle penetration of S&R

- Trade on the Candle shown by the Arrows

THE SECOND CHART
- Look at the Penetration of the Resistence (TOP). In 1hr chart, that would be a loss. But, with SRDC Advanced strategy Part I, you will avoid that trade because it doesnt comply with the rules.

May JajBinks sillyness be driven away from you!
Dear Jedi's in Training,

Read this post carefully. Master Roshan is giving us a big clue of how to filter out the price movements and place ourselves into good trades. Yes, this post applies to daily highs and lows for SRDC I method but it also applies to all trendline and support/resistance breaks.

Did you just have an Aha moment!
Dave If you can't swim with the sharks stay out of the water!
  • #693
  • Edited 7:38am Dec 20, 2006 6:10am | Edited 7:38am
Hi All
I'm back and I have a little Xmas present for you
This is the first version of EA based on SRDC I Advanced method.
There's only few rules about this EA :

1) The EA will be release without list code (only executable .ex4) since I'd like to have full control of further development. Obviously you are free to use it anytime.

2) The EA will follow strictly the Master Orange SRDC Lev 1 rules as he write in this thread so please don't ask me for EA changes that are not related to his method.

3) Please don't ask me by pm neither by email for the list code or how EA it works, I will write here how it works.

Ok let's see the external parameters used by EA :

* EOD = Time when the orders will be closed if neither the StopLoss or TakeProfit was reached

* Slippage = Max slippage accepted for each order opened

* TakeProfit = Takeprofit assigned for each order opened (in pips)

* StopLoss = StopLoss assigned for each order opened (in pips)

* Lots = Lot assigned for each order opened (used only if UseMoneyManagement = false)

* UseMoneyManagement = Flag to let the EA to calculate automatically lot size based on Equity and Risk

* Risk = How much risk is applied for each order opened (used only if UseMoneyManagement=true)

* SundayCandleExists = Flag to tell the EA if the broker get the sunday candle in the chart (like FastBrokers, InterbankFX,..) or not (like NortFinance,etc,etc). In this way the EA if have to opens order on Monday will not take care about the high/low of sunday candle (if exists).
Note : Usually brokers aligned to gmt have the sunday candle, otherwise they don't

The timeframe for the EA is M15
The EA doesn't have to be used yet on live account with real money since it's in a first stage and have to be approved by our OrangeRoshan.

ok that's all, let's find best settings for this little baby

Skyline
Attached File(s)
File Type: zip SRDC I Avdanced v1.0.zip   5 KB | 1,134 downloads
  • #694
  • Dec 20, 2006 6:19am Dec 20, 2006 6:19am
thanks skyline! This will help me to stop waking up at 0000GMT!
TRADE FOR SWAP
  • #695
  • Dec 20, 2006 6:36am Dec 20, 2006 6:36am
Hi Skyline I'm trying to add the indicator onto mt4 and it doesn't seem to populate, any help??


Thanks...

Marc
  • #696
  • Dec 20, 2006 7:00am Dec 20, 2006 7:00am
not qan indicator.

put it into the experts folder.
TRADE FOR SWAP
  • #697
  • Dec 20, 2006 7:10am Dec 20, 2006 7:10am
Hi Skyline, thank you for the EA. I hate to ask an obvious question, I assume we place the EA on the daily chart, right?
Steve
  • #698
  • Dec 20, 2006 7:15am Dec 20, 2006 7:15am
Great, thanks...Skyline
  • #699
  • Dec 20, 2006 7:28am Dec 20, 2006 7:28am
Quoting PipSteve
Hi Skyline, thank you for the EA. I hate to ask an obvious question, I assume we place the EA on the daily chart, right?
The advance version of SRDC is based on a 15 mins chart and using Daily High Low.

I think this is the reason why using 15 mins chart. Please correct me if I were wrong..
  • #700
  • Dec 20, 2006 7:29am Dec 20, 2006 7:29am
Quoting PipSteve
Hi Skyline, thank you for the EA. I hate to ask an obvious question, I assume we place the EA on the daily chart, right?
No the EA follow the latest SRDC I Advanced rule so it's on M15 timeframe
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