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SRDC Episode I

  • #1,061
  • Jan 16, 2007 9:51am Jan 16, 2007 9:51am
THANKS FOR THIS trading method. As a newbie, I am committed to
getting the hang of trading successfully.

Have had costly experiences with getting stopped out of otherwise
good trades, even at 50 pips. I get discouraged by this. On IBfx, we
must place 2 separate trades to straddle each daily candle. No SL on
both?? Oh......it's scary.
  • #1,062
  • Jan 16, 2007 10:37am Jan 16, 2007 10:37am
Elo^^ would anyone out there mind to explain more precisely to me about the Sunday/Monday candle. I do understand about the size of the candle, as it could be very very small in size ...therefore, its simply easy for the next candle to panetrate it highest high or lowest low. However, i dont really understand when it comes to ......like open a trade oposite to the Monday cadle....bla bla bla...lolz..^^ Any jedi or Jedi Masters mind to explain it to me ? Thx Alot In Advance ^^



May The Orange Juice (Ops ! Force) Be With U ^^ lolz
  • #1,063
  • Jan 16, 2007 11:06am Jan 16, 2007 11:06am
+4 pips on eur usd - short at 2916 - harvest @ 2908

srdc 2
Pipology 101 student
  • #1,064
  • Jan 16, 2007 11:10am Jan 16, 2007 11:10am
Quoting Glitz83
Elo^^ would anyone out there mind to explain more precisely to me about the Sunday/Monday candle. I do understand about the size of the candle, as it could be very very small in size ...therefore, its simply easy for the next candle to panetrate it highest high or lowest low. However, i dont really understand when it comes to ......like open a trade oposite to the Monday cadle....bla bla bla...lolz..^^ Any jedi or Jedi Masters mind to explain it to me ? Thx Alot In Advance ^^

May The Orange Juice (Ops ! Force) Be With U ^^ lolz
I suggest you read the introduction 10 times till you understand this simple method- It is soo simple, people overlook it since they think every thing should be complex.

If the last single candle on sund SR has been breached, you will harvest min of 5 pips...after that you advance to srdc 2

God bless

give and ye shall receive

hope that helps
Pipology 101 student
  • #1,065
  • Jan 16, 2007 11:16am Jan 16, 2007 11:16am
if there is no news affecting- eur usd will retract.

I 'd straddle 2904 for short and 2935 for long

tp for each 10 pips, but sl hmmmm- thats the Q..
SL is the key

i am scared on this one- but we will see

I also think the key is to stare at the screen 10 hrs a day- to see the behaviour of your pair.
You need to know your pair most likly behavious- its like going on the same road again and again and again, and you will get used to the street, and predicting traffic light, road turns, and other things will be predictable with high probability.

Coupled with srdc, MA, rsi, srdc 2, fundumentals , one can predict ( with few failures).

then comes momey mgmnt- reduce loss and run profit ( i will work on improving the latter)

Blessed are thirsty in knowledge for they shall receive it

read read read read read read stare stare stare stare at the screen.
Know your pairs

Happy piping-
Pipology 101 student
  • #1,066
  • Jan 16, 2007 11:49am Jan 16, 2007 11:49am
I personally feel that GBP/USD is the safest, followed by EUR/USD. I am disapponted by AUD/USD for now....

With GBP/USD I place 10 pip TP and so far so good, it did well three days in a row with no problems. EUR/USD I use 5 pips TP and in the two days I've used it it did well also.

I used 30 pip SL btw on both....

I will use it everyday the same way to see for how long they will do good.....

Once I have a good number of days to compare I will draw my conclusions.....

Future
"Lunch ? Lunch Is For Wimps !"
  • #1,067
  • Jan 16, 2007 12:07pm Jan 16, 2007 12:07pm
Quoting MrFuture
I personally feel that GBP/USD is the safest, followed by EUR/USD. I am disapponted by AUD/USD for now....

With GBP/USD I place 10 pip TP and so far so good, it did well three days in a row with no problems. EUR/USD I use 5 pips TP and in the two days I've used it it did well also.

I used 30 pip SL btw on both....


I will use it everyday the same way to see for how long they will do good.....

Once I have a good number of days to compare I will draw my conclusions.....

Future



Yeap, even orange says gbd and also eur usd...

it gives few pips after the breaching of sr, and srdc 2 will come to play also after that...

SL, man thats the million pips question...

AUD is safe as far as going opposite to your trade ( in my opinion)

but yes initialy gbd and eur may give out few more than 5 ...but then when to tp will be the dilema and before you know it it will reverse trying to get more than 5 pips dossage subscribed by orange- lol

why were you dissapointed by aud, it gave me few pips @ open
Pipology 101 student
  • #1,068
  • Jan 16, 2007 12:29pm Jan 16, 2007 12:29pm
Quoting amanuel
I suggest you read the introduction 10 times till you understand this simple method- It is soo simple, people overlook it since they think every thing should be complex.

If the last single candle on sund SR has been breached, you will harvest min of 5 pips...after that you advance to srdc 2

God bless

give and ye shall receive

hope that helps

Well could u pls tell me which intro ? SRDC 1 or 2 ? Actually i just wanna understand more about the sunday/monday candle more. and as for the basic concept of SRDC1 I've understood them well. I just wanna know why is there a post on SRDC1 on the previous pages that I read, it said about putting the trade on the opposite direction of the monday/sunday candle......i am quite blur bout that ^^ hope u can explain that for me ? thx alot ^^
  • #1,069
  • Jan 16, 2007 12:34pm Jan 16, 2007 12:34pm
My fellow padawans, jedis and Master OR,

Yes, I have been a cowboy and I am telling the whole galaxy! Mind you not the BROKEBACK MOUNTAIN type but a sucessful SRDC 1 and + trader(so far) that has chosen at times to throw away my profits by scalping and trading during news releases. Now I know that there are closet cowboys in our galaxy who live in the shadow of this double identity. This multiple persona is not limited to trading; it manifest itself in politics, religion, sports, personal relationships etc. So why am I sharing this embarrasing testimony? Because by coming out it forces me to be honest with myself and YOU will be my witnesses. Maybe this confession will help others as well. I would also like to bow to our Master and mentor Orange Roshan and pledge my loyalty to his teaching and not waste this incredibly opportunity to help myself, my family and other sentient beings. All of you have my permission to ask me the following mantra: How is your discipline?
Like some of our jedis and OR has told us many times ....The SRDC method can change your life and you in turn can change the lives of other too.

May the force be with you.
Attached Image
All 4 1 and 1 4 All
  • #1,070
  • Jan 16, 2007 12:43pm Jan 16, 2007 12:43pm
Quoting Glitz83
Well could u pls tell me which intro ? SRDC 1 or 2 ? Actually i just wanna understand more about the sunday/monday candle more. and as for the basic concept of SRDC1 I've understood them well. I just wanna know why is there a post on SRDC1 on the previous pages that I read, it said about putting the trade on the opposite direction of the monday/sunday candle......i am quite blur bout that ^^ hope u can explain that for me ? thx alot ^^

Glitz,

Go to the thread SRDC II and look at post #53. I think this may be what you're looking for, or somewhere near there. It talks about placing trade immediately in opposite direction as soon as little Sunday candle closes.

Hope this helps,

Lyn
  • #1,071
  • Jan 16, 2007 3:31pm Jan 16, 2007 3:31pm
Digitalis,

Exit strategy is probably the most difficult part of a trade because unless you are a rock, your mind and emotions can play tricks on you. So what I would suggest is scaling out of your trade so that you can end up a winner or at worst breakeven. One of OR recommendations is a 70%/20%/10% price target approach. You decide what your first take profit will be 10 pips? 20 pips? and then pick a take profit for the 20%. The last 10% can be a trail stop and just let it ride. Stop Losses can be adjusted after your 70% so that you can at least break even. The more experienced traders might use indicators such as CCI, Fibo, trendlines etc. But for now you might be better of just making sure that you winning trade does not turn into a loosing one. Gain confidence and consistency. That should be your goal. By the way, OR will be adding a Money Management thread in the near future.

Hope this helps






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?
All 4 1 and 1 4 All
  • #1,072
  • Jan 16, 2007 5:14pm Jan 16, 2007 5:14pm
Amanuel,
I am not clear what you mean when you say that after harvesting min of 5 pips during the sunday candle strategy that you advance on to SRDC 2. Are you saying during the same span of time, a second trade after trading the sunday candle? the next day? This is confusing me. What if I am not ready to advanced to SRCD 2? I am not sure what you are recommending.

Quoting amanuel
I suggest you read the introduction 10 times till you understand this simple method- It is soo simple, people overlook it since they think every thing should be complex.

If the last single candle on sund SR has been breached, you will harvest min of 5 pips...after that you advance to srdc 2

God bless

give and ye shall receive

hope that helps
All 4 1 and 1 4 All
  • #1,073
  • Jan 16, 2007 5:19pm Jan 16, 2007 5:19pm
Amanuel,

I am confused to the strategy that you are recommending here....Ma's, RSI,10 hours of staring at your monitor? I have been trying to find these recommendations in Orange Roshan's post and I have yet to find them. Can you point me in the right direction?






Quoting amanuel
if there is no news affecting- eur usd will retract.

I 'd straddle 2904 for short and 2935 for long

tp for each 10 pips, but sl hmmmm- thats the Q..
SL is the key

i am scared on this one- but we will see

I also think the key is to stare at the screen 10 hrs a day- to see the behaviour of your pair.
You need to know your pair most likly behavious- its like going on the same road again and again and again, and you will get used to the street, and predicting traffic light, road turns, and other things will be predictable with high probability.

Coupled with srdc, MA, rsi, srdc 2, fundumentals , one can predict ( with few failures).

then comes momey mgmnt- reduce loss and run profit ( i will work on improving the latter)

Blessed are thirsty in knowledge for they shall receive it

read read read read read read stare stare stare stare at the screen.
Know your pairs

Happy piping-
All 4 1 and 1 4 All
  • #1,074
  • Jan 16, 2007 7:26pm Jan 16, 2007 7:26pm
Hi OrangeRoshan and other traders of SRDC,

I wanted to ask you what combination of tp and sl do you use? If you just aim for 5 pips with a stop loss of 40, then 1 losing trade wipes out 8 winning ones. So in real trading maybe that would not be profitable.

Some traders say they do not trade with stop loss. Thats not true because everyone does, each trader must have a level at which they are forced to close position because the loss is too great for them. I want to set that stop loss when I open the position so my trades are mechanical and emotion free.

Please give me some insight on how to trade the SRDC1 system. Thank you for your help.

Regards
  • #1,075
  • Jan 16, 2007 8:27pm Jan 16, 2007 8:27pm
Quoting FxBabe
Hi OrangeRoshan and other traders of SRDC,

I wanted to ask you what combination of tp and sl do you use? If you just aim for 5 pips with a stop loss of 40, then 1 losing trade wipes out 8 winning ones. So in real trading maybe that would not be profitable.

Some traders say they do not trade with stop loss. Thats not true because everyone does, each trader must have a level at which they are forced to close position because the loss is too great for them. I want to set that stop loss when I open the position so my trades are mechanical and emotion free.

Please give me some insight on how to trade the SRDC1 system. Thank you for your help.

Regards

Well, most people suggest 30 pips SL, which would still kill a good number of good trades (6). Now, here's the problem; if you are going to place a bigger SL, you may get stopped less times, but when you do get stopped, it will be huge. Placing a smaller SL instead will stop you more times and you will risk getting stopped even during good trades.

What to do ? Well, what I am doing is demoing this baby like crazy in order to come to the conclusion on whether or not the winning trades will always be more than the losing ones with a 30 pips SL. If it works out, then great, if it doesn't, then it will be just like any other system where it has the potential to do good but each individual's fears and guts will determine how profitable it is.

Like some suggested don't only think at 5 pips TP, 'cause most of the times it is more than that, therefore it has the potential to kill the losses. But, do you have the time to baby sit the trade for one entire day and don't sleep ?

I guess that only by continuing demoing it we will be able to draw some statistics on this system and make adjustments.

Peace
"Lunch ? Lunch Is For Wimps !"
  • #1,076
  • Jan 16, 2007 9:45pm Jan 16, 2007 9:45pm
Quoting MrFuture
Well, most people suggest 30 pips SL, which would still kill a good number of good trades (6). Now, here's the problem; if you are going to place a bigger SL, you may get stopped less times, but when you do get stopped, it will be huge. Placing a smaller SL instead will stop you more times and you will risk getting stopped even during good trades.

What to do ? Well, what I am doing is demoing this baby like crazy in order to come to the conclusion on whether or not the winning trades will always be more than the losing ones with a 30 pips SL. If it works out, then great, if it doesn't, then it will be just like any other system where it has the potential to do good but each individual's fears and guts will determine how profitable it is.

Like some suggested don't only think at 5 pips TP, 'cause most of the times it is more than that, therefore it has the potential to kill the losses. But, do you have the time to baby sit the trade for one entire day and don't sleep ?

I guess that only by continuing demoing it we will be able to draw some statistics on this system and make adjustments.

Peace
Good Thinking.....
What do you think the best solution for this situation....May be an intellegent EA? I'll love to hear you opinion on this.
Shah For every action there is an equal and opposite reaction.....
  • #1,077
  • Jan 16, 2007 10:07pm Jan 16, 2007 10:07pm
Quoting 4rex
Amanuel,
I am not clear what you mean when you say that after harvesting min of 5 pips during the sunday candle strategy that you advance on to SRDC 2. Are you saying during the same span of time, a second trade after trading the sunday candle? the next day? This is confusing me. What if I am not ready to advanced to SRCD 2? I am not sure what you are recommending.

Sorry for the consusion:

After the first candle trade, I then switched to what i thought was srdc2 by switching to 15, 30 min chart with shr and found out that momentarily ( same day , few minutes after daily open ) it was going to bounce back from the upper border (top) towards bottom ( i think this is the same candle that is opened on 1 hr chart or may have been the 2nd or 3rd candle on the hr chart). Though OR said top-mid-bottom off of LRC for the over all daily price, I did it via shr and the price within the next 15-20 minutes was moving about shr top-mid-bottom and caught it on the way down... and got few pip from the bounce that happened from top towards the mid via short. ( i did not care what the long term trend (lrc) is at this point since it is a quicker time frame.

In otherwords I never traded lrc top-mid-bottom method, but mistakenly, though it gave me pips, i did it via shi within the same day but lower time frame.

It is an interesting finding, but i need to do this consistantly to say it works most of the time ( just like anything else).

As far as shi moving arround, i draw a permanent line every now and then to see if it has shifted- and if it stays steady but price is moving up and down, then i will try to follow the trail and nail it as i did yesterday.

will continue testing.

Quoting 4rex

Amanuel,

I am confused to the strategy that you are recommending here....Ma's, RSI,10 hours of staring at your monitor? I have been trying to find these recommendations in Orange Roshan's post and I have yet to find them. Can you point me in the right direction?
Sorry for the confusion- was just adding the fact that I was also considering fundumentals and MA's etc..

but that does not belong to this forum.
There is really no need to add confusion.

srdc1 is a good method for 5 pips minimum. We will concentrate on that.
Pipology 101 student
  • #1,078
  • Jan 16, 2007 10:09pm Jan 16, 2007 10:09pm
Guys, those of U who doubt this method looks like you never read this thread from the beginning, page per page, from page 1 till end.

The big question to everyone of U who ask like this : "This 5 pips target will be wiped out if we get one stop loss on 30 pips or 50 pips" is :

HAVE YOU EVER TRIED THIS METHOD, LIVE OR DEMO ?

HAVE YOU EVER REALLY, I MEAN, REALLY, REALLY CALCULATE AND ANALYZE?


I have did demo trade this method start on Mid of November 2006 till end of November 2006, then start it on Live since 4 December 2006 on GBP/USD only. First, I use 5 pips target and 55 pips stop loss. Now I start using 7 pips, or even 10 pips, depend on market sentiment. From December till now, I have never ever being stopped loss. I don't know what broker you are using, but in my two brokers, I've never being stopped out !!! Even just once!!!

May be you ask, why 5 pips target? why 55 pips stop loss? Because, the aim of this strategy is, how to trade Forex with 99% possibilities profit, or even 100%? NOT TO GET TONS OF PIPS !!! Please, understand this philosophy !!!! This is Forex, 0 is better than -1, and 1 is better than 0, and so on.

Do your math, do a simple calculation. Do a compunding trading. You will get surprised that even 5 pips could make your $5 become $18,474 in 260 days (work days in 1 year) if each your trade using 64% of your margin and 5 pips target!!!! Confuse with this one? Use microsoft excel to do the math, do compounding trading. If you earn profit, you will increase your equity and use 64% margin from the new equity to trade on the next day !!!!

So why 64% margin?
In my broker, if my available margin or free margin fall below 0 (zero), then they will liquidate my open position automatically. I have done a simple calculation, that on leverage 1:100, if I use my 64% margin to trade, then they will auto-liquidate my position if the market againts my position by 56 pips or more.

What if you want to use this method as set and forget method? You have 100% margin. Use 40%-40% of your margin to trade, put buy stop and sell stop, trust me, if the market price againts your position by 50 pips, with this 40%-40% margin your free margin will fall below 0 and that is your stop loss. Then you will not sit on your computer the whole day.

Why are you afraid to get your stop loss? In my experience, the GBP/USD price usually could give more than 5 pips, it could even give you 7 pips, 9 pips, 10 pips, 20 pips or even more than 50 pips. You don't believe me? Check your interbankfx chart using 1H from December till now.

C'mon guys.....this is Forex, if you don't want to get stopped then BE A GOD ON THIS FOREX TRADING!!! NOT A HUMAN !!! We can manage our trade so the stop loss will not be a nightmare to us !!! Use our skill to analyze, Forex is not just a technique to trade, but you must combine it with MONEY MANAGEMENT AND DISCIPLINE !!!

Why we should be afraid of one day being hit a 50 pips stop loss but we still can recover it on the next days!!!!! Personally, OrangeRoshan has opened my eyes, that even with a very, very, very simple method like this, Forex seems so profitable !!! THANKS TO HIM !!!!

Regards.

PS : Ah...almost forget, I did my trade not with the advanced one, I am still using the first method as you guys see in the first page. Trust Master Roshan, even 5 pips DOES MATTER !!! Do your math, make your own calculation as I can not expose my excel file here. Why? As I am afraid, if the brokers look at the calculation inside, then they will make a new restriction : "TRADING WITH SRDC1 METHOD IS NOT ALLOWED HERE, WE WILL CLOSE YOUR ACCOUNT IF YOU USE THAT METHOD IN OUR FIRM!!!!"......LOL. As master Roshan said : KEEP IT SIMPLE !!!!
  • #1,079
  • Jan 16, 2007 10:15pm Jan 16, 2007 10:15pm
Quoting Panjan
Good Thinking.....
What do you think the best solution for this situation....May be an intellegent EA? I'll love to hear you opinion on this.

Excellent point.
And the only obstacle of this method is SL.
OR is so confident that he will let it run with enough margin ( heh, not sure if there is enough margin for a 'NO SL' event) to cover it and will wait for it to come back...hmmm ( come back? what if it never does?).

The odds , per OR, and me backtesting it ..it is approx 80% and above- ( somthing like that ).

Demo it and see for yourself.

As far as staring at the screen all day to get 5 pips, well, thats where EA comes in.

but it is interesting to find 5 pips every day with simple methos like this.
Beats any damn strategy out there.
Pipology 101 student
  • #1,080
  • Jan 16, 2007 10:21pm Jan 16, 2007 10:21pm
Quoting Bom-Bom
Guys, those of U who doubt this method looks like you never read this thread from the beginning, page per page, from page 1 till end.

The big question to everyone of U who ask like this : "This 5 pips target will be wiped out if we get one stop loss on 30 pips or 50 pips" is :

HAVE YOU EVER TRIED THIS METHOD, LIVE OR DEMO ?

HAVE YOU EVER REALLY, I MEAN, REALLY, REALLY CALCULATE AND ANALYZE?


I have did demo trade this method start on Mid of November 2006 till end of November 2006, then start it on Live since 4 December 2006 on GBP/USD only. First, I use 5 pips target and 55 pips stop loss. Now I start using 7 pips, or even 10 pips, depend on market sentiment. From December till now, I have never ever being stopped loss. I don't know what broker you are using, but in my two brokers, I've never being stopped out !!! Even just once!!!

May be you ask, why 5 pips target? why 55 pips stop loss? Because, the aim of this strategy is, how to trade Forex with 99% possibilities profit, or even 100%? NOT TO GET TONS OF PIPS !!! Please, understand this philosophy !!!! This is Forex, 0 is better than -1, and 1 is better than 0, and so on.

Do your math, do a simple calculation. Do a compunding trading. You will get surprised that even 5 pips could make your $5 become $18,474 in 260 days (work days in 1 year) if each your trade using 64% of your margin and 5 pips target!!!! Confuse with this one? Use microsoft excel to do the math, do compounding trading. If you earn profit, you will increase your equity and use 64% margin from the new equity to trade on the next day !!!!

So why 64% margin?
In my broker, if my available margin or free margin fall below 0 (zero), then they will liquidate my open position automatically. I have done a simple calculation, that on leverage 1:100, if I use my 64% margin to trade, then they will auto-liquidate my position if the market againts my position by 56 pips or more.

What if you want to use this method as set and forget method? You have 100% margin. Use 40%-40% of your margin to trade, put buy stop and sell stop, trust me, if the market price againts your position by 50 pips, with this 40%-40% margin your free margin will fall below 0 and that is your stop loss. Then you will not sit on your computer the whole day.

Why are you afraid to get your stop loss? In my experience, the GBP/USD price usually could give more than 5 pips, it could even give you 7 pips, 9 pips, 10 pips, 20 pips or even more than 50 pips. You don't believe me? Check your interbankfx chart using 1H from December till now.

C'mon guys.....this is Forex, if you don't want to get stopped then BE A GOD ON THIS FOREX TRADING!!! NOT A HUMAN !!! We can manage our trade so the stop loss will not be a nightmare to us !!! Use our skill to analyze, Forex is not just a technique to trade, but you must combine it with MONEY MANAGEMENT AND DISCIPLINE !!!

Why we should be afraid of one day being hit a 50 pips stop loss but we still can recover it on the next days!!!!! Personally, OrangeRoshan has opened my eyes, that even with a very, very, very simple method like this, Forex seems so profitable !!! THANKS TO HIM !!!!

Regards.

PS : Ah...almost forget, I did my trade not with the advanced one, I am still using the first method as you guys see in the first page. Trust Master Roshan, even 5 pips DOES MATTER !!! Do your math, make your own calculation as I can not expose my excel file here. Why? As I am afraid, if the brokers look at the calculation inside, then they will make a new restriction : "TRADING WITH SRDC1 METHOD IS NOT ALLOWED HERE, WE WILL CLOSE YOUR ACCOUNT IF YOU USE THAT METHOD IN OUR FIRM!!!!"......LOL. As master Roshan said : KEEP IT SIMPLE !!!!
Bom-Bom right on th emoney..

I am wondering why do we even have to beg them to do it.
Let them try it and get it if they are interested.
If not, find other method- there is tons out there.

Seek and ye shall receive.

Blessed are the thirsty, for they will .....


if you want it bad, you would read every post under srdc and FF for that matter...FF rocks, and you will find knowledge here.
Pipology 101 student
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