SRDC Episode II

Ummmm, only record when OR is around or a real training session is going on.

It would be better if we allocate say one day on the weekend to do price analysis on TS, moderated by OR or anyone in the higher echelon, you know those things like where u should have gone long etc etc. That should be one of the more important recordings.

That would also mean that OR might wanna consider giving a timetable or at some projection on when he will enter to allocate a 'padawan study time'. It could proly make accretes's life much easier. Master?

Did I draw mine incorrectly or has the GBP/USD just gone south out of the channel???

i don't know here is a pic of the channel I had drawn until yesterday, the price is just at the lower part of the channel now

here is a trade I took just now, long at 1.9430 . we'll see how it goes...

GBP is trying to break the PP daily S1 9414, twice already unsuccessful. long at 9430/40 looks good but any other jedi opinion.....


Tq
shah

p/s : I need the new address for TS, pls someone help.
Could not log in yet

Im with ya on that trade Anthony500, my first trade however got stopped out for 1 pip profit, lets see what happens this time.

Hi Shah,

You can download your Teamspeak at http://www.goteamspeak.com/index.php?page=downloads


Sign on with your Forex Factory name in the nickname area and the password is "getpips". The address is 75.110.123.137. This is the back-up server address. Refer to post 1154.

Your mic is open by default so as soon as you are in go to settings, then sound ouput, then set "push to talk".

Hello my Fellow Padawans:

We now have, a channel in TeamSpeak that will be available to discuss the SRDC and SRDC Advanced Part 1. This will be the only method discussed and beginners are most welcome to join in. It is recommended that you read the SRDC thread first so that our discussions can focus of finetuning our trades. I have volunteered along with other members of TS to help out whenever possible. We are planning to be in the TS room at the start of the new Daily Candle (7pm est) and at those critical moments when we are close to breaking the Support/Resistance level. If there is anyone else who wants to volunteer to serve as host/moderator or has any suggestions please contact TraderBill or Preacher165.

C U THERE

These are what i see as current support and resistance lines
Black are my current channel
White are support and resistance

I just got in. Thanks Melissa.

I'm just bored waiting for market to move..so i decide to post this chart.
May be the bear is no 'full' yet...

This trade should be OK, guys. In about an hour or so it'll start working.
Hope we'll get some good pips.

I continue to read and study the SRDC method. At first glance, it seems far too simplistic to be successful, but I have used it the last two days and I am currently 2 for 2!

While I have spent hours and hours reading through the posts and studying the techniques on my charts, I actually only spent about 5 minutes at the start of the last two trading days (4 PM CST for me) setting up my buy or sell orders, adding a PT and a SL, then just walking away. Much to my surprise, I am up $600.00 in my account on those two GPB/USD trades.

I traded 3 lots each day, and scalped only 10 pips each time. I'm going to work on a trailing stop, because I could have easily made more PIPs on both trades. I could actually still be in both trades with prices still moving in my favor. The part I really like about this is that you just place your trades and walk away. No staring at the screen and hoping and waiting for it to go your way. I haven't gotten far enough along to determine if an EA was ever released that works, but if there is one, it should be a gold mine for those using it. At some point, I plan to study some of the threads on writing your own code and maybe I can simply write my own EA. Imagine the passive income you could make trading a handfull of these on a daily basis with an EA!

I actually tried this techique with limited success on my own trading futures years ago, but the margin required to trade large lots is much larger, so it makes it more difficult in that market. The commisions were very large back then as well, so that somewhat limited the gains. At that time, I came up with the idea on my own, so I was obviously on to something, but I just didn't have anyone experienced to lead me forward, and due to some of the limitations I just mentioned, it was a little ahead of it's time. However, this is the perfect trading setup for FX in my opinion. This site and this thread can help anyone if they will simply give it a try.

Thanks to OR and all of the others that have contributed. I like this system and I will continue to study the advanced SRDC methods. Maybe one of these days I will become a Jedi Knight myself. Profitable Trading!

mccullek,


Are you speaking about SRDC1 or SRDC2 trades?

Cheers,
Jeff

Mccullek,

Congrats! But be sure you keep checking ur prices u dun want ur trade to go hay wire...Remember, price determines your channel, channel is derived from price, you can project the price using indicators, TLs or anything but in the end only price will tell you where it is. So enjoy your ride..This is SRDC on steroids..hehehe. Merry Pippin Mccullek.

Ok on a more srious note. I might not be able to trade tomorrow, i have some personal issue to settle, and as usual i like to leave my studies when i am not able to participate just so that everyone could have a thing or two on what I am thinking or expecting.

On the dailies, ok i seldom use fibo retracements, so this is my noob attempt on doing some price analysis using it.

1. Price is becoming more and more efficient, cutting the 38.2% point. My analysis is the line will definitely tank some time soon, note that this is the third attempt on the retracement and its slowly starting to convince that the cut is due to come. Look for a lower high if price retraces of 38.2 again...if it happens thats pretty much reassured.

2. Psychological support off the lowest point 9429 broke in intraday trading today but retraces back into position for price to continue ranging above it, note the 38.2 level if it breaks clean, most likely 9429 will tank too and from what i see, alot of straddle orders to sell the pound will be placed there between -30 of 9429.

3. Beyond 9429, i dont see much areas where pound could lean on as a support other than at 9177...thats a diff of abt 252 pips. So you have a potential 200 pipper.

4. December formation suggest that we had an impending Reverse H&S that has clearly failed...imho is a strong indication that USD is bullish. Be sure to note this SR points when u trade intraday tomm...Heck just note SRDC1 and you'll pip away to freedom. Guaranteed.

Merry Pippin,

Jest

If you missed joining the SRDC Teamspeak room aka "Pipville" today, you missed a fantastic session. Once again we traded SRDC I and made more pips than yesterday. This method again proved it is one of the most winning in the Forex world. We were also able to take some money from the news of the day because we had faith in the channel and understood where we were heading after the news release. OrangeRoshan is now in the room and is once again helping us to stay focused and follow the method correctly every time. I am very proud of the people in the room today. We worked very well together and so many contributed to the success of the entire room. We welcome everyone to join us again tomorrow and see what happens.

Traderbill

I see a number of chart setups...most differ from each other. Is there a concensus on a 1 hr chart at this time? Based on the "Method" it seems as tho we should be having a nice retracement, yet I am hearing of a significant drop which would seem to be counter to our methodology. Any comments? Thanks.

Here's my daily chart, followed by a 15 minute chart with a microchannel. The market is at a decision point either trend reversal or continuation -- hold on to your hats! Gotta love this method!



Cheers,
Jeff

PS -- I predict the price is going to move to the right!

This is a possible channel for the new day. We came up with this in Teamspeak room and it may be the channel for the day. Price will tell us for certain.

Traderbill

Short on the break of 9400...went for 24 pips, Good scalp, several in TS session took this and made pips !!!