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SRDC Episode I

  • #1,041
  • Jan 15, 2007 6:10pm Jan 15, 2007 6:10pm
Quoting accrete
Hi Lyn, your interpretation is spot on. What i've found is that for me i miss the Sunday/Monday event as i'm at work so i will often wait until 00:00 GMT as i did last nite and see if there is an SRDC Iadv setup which is how i entered. What i've found in my studies on the Sunday/Monday trade is you've got to be quick on the trigger and just have faith and not be greedy, as often at the end of the day there was that nice opportunity in the first few moments of the Monday open where it will in fact comply in the opposite direction as it did this weekend.

: ) Thom
Thanks Thom!

That makes me feel better. At least I haven't completely lost it yet....but I'm well on my way I'm sure.

Take care,

Lyn
  • #1,042
  • Jan 15, 2007 7:03pm Jan 15, 2007 7:03pm
4 more pips eurusd short @ 2932 harvest @ 2928 = 100$ a pip = 2 lots $800.

I am done for today with 1100$ jedi dollars.

Luck -mmm i dont think so-

SRDC probability works.
Pipology 101 student
  • #1,043
  • Jan 15, 2007 7:57pm Jan 15, 2007 7:57pm
Accrete,

I believe that Grandma would say that SRDC 1 did work for the Sunday Candle. The low was 1.9583. That would put the entry @ 1.9578 and the candle went as low as 1.9571. 5 Pips with room to spare.. but NO! you young whipper snapper wanted more! Grandma was right! By the way I did not listen to Grandma either but I played the reversal.





Quoting accrete
Hi Bill, i announced my SRDC I entry at 1.9620 after the Sunday High break in the TS room and did glean 27 pips out of the trade but it took a while of rollercoastering : )

I do have a Q though. In your quote you state you prefer Friday's candle, yet as i understand the Sunday Rule vs the Friday candle if we had gone say short in this instance one would wait all the way for Friday's low instead of Sunday's low...that could/would make quite a difference. Although in hindsight (and i did not take any short trades off Sunday's candle this week), the Sunday/Monday reversal did not work out this time around. I just traded the break of Sunday's High after close of a 15m candle.

Just looking for clarification on your thoughts on this. Not looking for a right or wrong kinda thing, i'm just curious. The Friday candle H/L makes sense as Sunday is an anomoly : )

Thom
All 4 1 and 1 4 All
  • #1,044
  • Jan 15, 2007 9:20pm Jan 15, 2007 9:20pm
Quoting accrete
Hi Bill,
Just looking for clarification on your thoughts on this. Not looking for a right or wrong kinda thing, i'm just curious. The Friday candle H/L makes sense as Sunday is an anomoly : )

Thom
I only trade that reversal if it goes with the SRDC I movement. I just don't trade a SRDC I trade off the high or low of the Sunday candle because it is only one hour. I hope that clears it up. I think OR wants us all to be free thinkers within the system.

Traderbill
  • #1,045
  • Jan 15, 2007 9:52pm Jan 15, 2007 9:52pm
Quoting 4rex
Accrete,

I believe that Grandma would say that SRDC 1 did work for the Sunday Candle. The low was 1.9583. That would put the entry @ 1.9578 and the candle went as low as 1.9571. 5 Pips with room to spare.. but NO! you young whipper snapper wanted more! Grandma was right! By the way I did not listen to Grandma either but I played the reversal.

AHH , got it. It is SR of the last candle (1.9583), not last days high (1.9665)..


also, I got a password error when attempting to get to the TeamSpeak.
I used amanuel / ip per your link / and pipastic as passerd - still no luck

ALso can I configure LRC channel by going to the property and selecting the parameters to be ( 2007.01.01 01:00, in my case alpari +1gmt) up 'till to current time's candle correct???


This is pipastic got my 11 pips today from aud and eur / usd.

Also as an my 2 pips for n00bs: low spread broker is the way to go on this. I'd rather get lower leverage with less spread than high leverage and wide spread for SRDC. because thats xtra pip or 2 x 5= 10 pips a week = 40 xtra pips a month I will have, rather than paying brokers - not to mention they may slip my order now that i am profitable ( well thy should not if thay are smart since i am making them pips too from the spread ).

Any way

interesting.
Pipology 101 student
  • #1,046
  • Jan 15, 2007 10:00pm Jan 15, 2007 10:00pm
Hi 4rex, im confused here, hope you can clear it up for me,
if I go on my chart ibfx, my price on the chart is the bid btw, im sure yours is to, any way so i enter at 1.9578 bid and close at 1.9571 bid, price didnt' go any lower that day, so that's all one could have gotten, now with a 4 pip spread, that only gives 3 pips profit, not 5 with room, I'm just trying to understand SRDC 1 properly and this doesnt add up, am I missing something? I dont' wanna leave extra pips on the table. Please let me know, if I got it right, or I am missing something.



I believe that Grandma would say that SRDC 1 did work for the Sunday Candle. The low was 1.9583. That would put the entry @ 1.9578 and the candle went as low as 1.9571. 5 Pips with room to spare..
  • #1,047
  • Jan 15, 2007 11:39pm Jan 15, 2007 11:39pm
Quoting Mr Smith
Hi 4rex, im confused here, hope you can clear it up for me,
if I go on my chart ibfx, my price on the chart is the bid btw, im sure yours is to, any way so i enter at 1.9578 bid and close at 1.9571 bid, price didnt' go any lower that day, so that's all one could have gotten, now with a 4 pip spread, that only gives 3 pips profit, not 5 with room, I'm just trying to understand SRDC 1 properly and this doesnt add up, am I missing something? I dont' wanna leave extra pips on the table. Please let me know, if I got it right, or I am missing something.



I believe that Grandma would say that SRDC 1 did work for the Sunday Candle. The low was 1.9583. That would put the entry @ 1.9578 and the candle went as low as 1.9571. 5 Pips with room to spare..
Yes, @ 4 pips spread, to get 5 pips, you need to get out at 1.9573 ask 1.9569 bid

But once you advance ...srdc2, you may harvest more pips...so that wont matter.

But thats why it is important to get a broker with 1 or 2 pip spread.
And I think these brokers have low margin which is also good to be safe.

May need 4 times the fund if used 1:100 as oppose to 1:400- but still get a smaller spread ( outside news )
- so for eurusd for eg @ the current price,instead of $660 ( for 1 lot , 100k) (i.e $330 for used margin, $330 for available margin (30 pip loss max ) ,you now need four times that $1760- but pips wise, you get 40 extra pips a month ...approx -
Thats 400$ a month for 10$ per pip or $4000 @ 100$ per pip

(if one saves 1 or 2 pip per srdc trade, thats 2 a day, 10 a week, 40 a month xtra pips saved....but you just put 4 times the fund to get low margin 1:100

Well- still high, but for serious gamblers with most probable edge, its ok.
Pipology 101 student
  • #1,048
  • Edited Jan 16, 2007 12:27am Jan 15, 2007 11:50pm | Edited Jan 16, 2007 12:27am
as of now , 12:45 est am, it seems to reverse, and about to brk previous high - eur and gbd

as it is going up- it shall come down - if it does not break the second channel border

srdc2 in action. If you draw SHI_channel, yould just open your mouse and say wow.
took srdc profit, then shi 15 min chart did show that eurusd must go up to 1.2950 and then come down to about 1.2925 or half way 1.2935- ( this may change as shi shifts according to current trend

if shi shows trend change on 15 min chart, then will adjust accordingly.



Orange, thank you master.

Listening to your recording as we speak.

I did not sleep for almost 20 hrs now...waiting for gbp open.

also before going to bed i will
straddle at both sund and mond SR
R 1.2957 for long gbd
S 1.2920 ( average S )

TP 10 pips or 20 max

if buy stop not met, then will look for other opportunity
Pipology 101 student
  • #1,049
  • Edited Jan 18, 2007 3:49pm Jan 16, 2007 12:31am | Edited Jan 18, 2007 3:49pm
here is the graph of 15 min with shi...took profit on the way down.

now will wait for it to keep going up up or down down and past sund and mond SR on 1 hr chart-

if not, then there is no trade
Pipology 101 student
  • #1,050
  • Jan 16, 2007 1:09am Jan 16, 2007 1:09am
eurusd 1.2966 +6 pips. when it penetrates, it pentrates
Good night....though i do not feel like going to bed.
I need to clone myself- EA comes to mind...

Orange- you need to rule the planet and FF should be the kingdom and where all the kings will sit.

it may come down on the other side, still pending order on Support @ 1.2920-if not then no trade
zzzzzzzzzzzzzz
Pipology 101 student
  • #1,051
  • Jan 16, 2007 3:06am Jan 16, 2007 3:06am
the sell trade for audusd is not going well.
  • #1,052
  • Jan 16, 2007 3:36am Jan 16, 2007 3:36am
I didn't take the GBPUSD trade today, because I knew there was high impact news on the CPI (thank you Forex Factory).

What is the opinion about using SRDC on big news days?
Full-time trader and loving it!
  • #1,053
  • Jan 16, 2007 6:42am Jan 16, 2007 6:42am
4rex- thanks for your replies, i have found the post where it describes how to check the 15min charts before placing a trade !
  • #1,054
  • Jan 16, 2007 7:04am Jan 16, 2007 7:04am
Mr Smith,

I forgot that I use a nondealing desk broker with better spreads. In my case it did work.

Sorry for the confusion. In my case it is usually 1+ 2 for spread





Quoting Mr Smith
Hi 4rex, im confused here, hope you can clear it up for me,
if I go on my chart ibfx, my price on the chart is the bid btw, im sure yours is to, any way so i enter at 1.9578 bid and close at 1.9571 bid, price didnt' go any lower that day, so that's all one could have gotten, now with a 4 pip spread, that only gives 3 pips profit, not 5 with room, I'm just trying to understand SRDC 1 properly and this doesnt add up, am I missing something? I dont' wanna leave extra pips on the table. Please let me know, if I got it right, or I am missing something.



I believe that Grandma would say that SRDC 1 did work for the Sunday Candle. The low was 1.9583. That would put the entry @ 1.9578 and the candle went as low as 1.9571. 5 Pips with room to spare..
All 4 1 and 1 4 All
  • #1,055
  • Jan 16, 2007 8:55am Jan 16, 2007 8:55am
Can I ask what other users of SRDC I Advanced are using as an exit trigger?

I feel comfortable enough now that I don't want to hold out just for 5 pips anymore (and haven't been, thank you OR!) but cannot yet find a method I'm comfortable with.

Maybe this is covered in SRDC2 but I don't even want to look at that yet, I want to carry on with SRDC I for another couple of weeks and make sure I get good experience before trying to move onwards and upwards!

So, do you set a profit target, do you use an indicator, do you use a candle pattern or maybe the phase of the moon or a Deathstar approaching?
Full-time trader and loving it!
  • #1,056
  • Jan 16, 2007 9:13am Jan 16, 2007 9:13am
Quoting dazed101
the sell trade for audusd is not going well.
...patience

either you should have gotten your 5 quick as soon as it penetrated last candle SR - or SL should be wide to wait for the bounce that may never happen - ( though the latter one is scary )

For eg, eurusd went 90 pips up before coming down again but that was after it gave its few 5 pips- so if you did not take your 5 pips, you will loose if you had 90 PIP SL.

Now that is scary.

Per Orange, he suggested no SL- and he is right - but will we do that ??

I am working on SL - but then again, that is the BIG Q of all traders.
Pipology 101 student
  • #1,057
  • Jan 16, 2007 9:18am Jan 16, 2007 9:18am
Quoting Digitalis
I didn't take the GBPUSD trade today, because I knew there was high impact news on the CPI (thank you Forex Factory).

What is the opinion about using SRDC on big news days?
there is no news @ 00 gmt....well there is AUD news ...I stay out of news or place a reasonable SL.

SL is the key to most success or failures..i think
Pipology 101 student
  • #1,058
  • Jan 16, 2007 9:22am Jan 16, 2007 9:22am
Quoting Digitalis
Can I ask what other users of SRDC I Advanced are using as an exit trigger?

I feel comfortable enough now that I don't want to hold out just for 5 pips anymore (and haven't been, thank you OR!) but cannot yet find a method I'm comfortable with.

Maybe this is covered in SRDC2 but I don't even want to look at that yet, I want to carry on with SRDC I for another couple of weeks and make sure I get good experience before trying to move onwards and upwards!

So, do you set a profit target, do you use an indicator, do you use a candle pattern or maybe the phase of the moon or a Deathstar approaching?

srdc1 = 5 pips - but the issue here is SL ..

thats it my friend.

for more pip harvesting, you need to add other abilities - and /or srdc 2..
makes the game a bit interesting ( may even loose your precious 5 pearls trying so ..
Pipology 101 student
  • #1,059
  • Jan 16, 2007 9:24am Jan 16, 2007 9:24am
If news does not mess things up- eur gbp and aud are all going down-
waiting for pearcing of SR

to give up few pips.


May the force be with you
Pipology 101 student
  • #1,060
  • Jan 16, 2007 9:48am Jan 16, 2007 9:48am
I've read the thread lots of times and discovered I was entering at the
exact SR of the previous candle....not as instructed. Now, add 1-2 pips
plus spread for entry. Right??? Then, add 5 pips for TP, Right???

Guess I too am nervous about placing a SL or using no SL. I've had
trades (in general) which were right on..eventually... but got stopped out
before reaching target. Losses on only a few trades were bigger than gains,
not cool. So, I'm practicing SRDC I carefully. Im on EST and place trades
around 7:00 pm (00 GMT). I must have faith overnight and look for my
surprises in the am. Thanks for this method and all the Q and A's which
enlighten us newbies a lot.

On IBfx, we must enter 2 separate trades to straddle each daily candle.
Should I trade with no SL on both? I'm tired of getting stopped out of
otherwise good trades.
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