SRDC Episode I

Quoting rideblitz

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Sorry to hear that, but wow 5 pip spread on euro? I got in at 1.2906 (1.2908 - 2 pip spread) and made my 5 pips in about 20minutes time.

I know I didn't add the extra pip for safety on the entry price, but seems like it worked out for me.

Good luck to everyone.

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Quoting Balflear

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Hi 4rex,

could you teach me how to do 3 TP on metatrader4?

Or is it that you open 3 position at a time?

I already know about the 3 TP points since it been discuss before in SRDC 1 thread, and SRDC 2 also i think(forgot). But i dont know how to do that unless we open 3 position for each buy/sell stop.

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Quoting cgldsmth

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I'm beginnign to tire of Interbank's 4 pip spread on cable. I know they say it's only 3 but this is rare for me. May move SRDC over to EURUSD where it seems they stick to 2 more often.

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Quoting Digitalis

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GBP didn't work for me today, because of the round number I got in long using advanced, after a clear candle, 19723. Stopped out at 19693. I see now why OR suggests a 50 pip stop on GBP, will have to watch and see where it goes. Or maybe this is just one of the losing ones, we know it won't be 100% wins.

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Quoting Digitalis

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GBP didn't work for me today, because of the round number I got in long using advanced, after a clear candle, 19723. Stopped out at 19693. I see now why OR suggests a 50 pip stop on GBP, will have to watch and see where it goes. Or maybe this is just one of the losing ones, we know it won't be 100% wins.

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Quoting skyline

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Ok I'm still not able to open pending orders with SRDC EA so i moved on another famous breakout EA and changed it to fit Orange's original S&R Daily rules (i hope ).
I called it SRDCv2 , settings are almost the same as SRDC , there is only EOD (end of day) that is time for closing orders/pending orders at end of day and should be set at 23 just 1 hour before new daily candle will be opened.
I'm starting forward test with these settings :

StartTime = 2; // begin of the first session; time adjust by your broker time
BORDER = 1; // pips we add to the high and low to get entry price
EOD = 23; // time for closing orders at end of day
StopLoss = 20;
MOVE_SL_AT = 35; // if an order reaches this profit level...
MOVE_SL_TO = 5; // ...adjust SL to this profit level
TrailingStop = 50;
TakeProfit = 100;
Lots = 0.5;
Slippage = 0;

I checked and pending orders now are correctly opened ...well let's see if it will be Pipastic eheheh !

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Quoting cgldsmth

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I'm beginnign to tire of Interbank's 4 pip spread on cable. I know they say it's only 3 but this is rare for me. May move SRDC over to EURUSD where it seems they stick to 2 more often.

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Quoting Bom-Bom

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Use the interbankfx demo platform, you can download it here :

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http://www.metaquotes.net/files/interbank/ibsetup4.exe

use that platform to analyze and trade using your broker, the time in that is already GMT.

Regards.

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Quoting lmills2

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Hi Glitz,

I believe the understanding is that most of the time, the bar following that little Sunday bar will be a good trade in the opposite direction of the Sunday bar, so you have it right.

As Bom-Bom suggested, the interbankfx platform would be the one that has that little Sunday bar. It's the one I use for this.

Lyn

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Quoting Ribsy

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Thanks to you this is my 2nd day of live trading and already made +5 pips yesterday from audusd long.

Plus +5 pips each on eurusd, audusd, usdjpy all long. Thats pipstatic! I was actually trying to apply sdrc2, but this method is so easy, thats is great! Only problem is the pips today happened whilst I was asleep as I wanted to actually babysit them for more pips. Gaining easy money slowly without having to constantly monitor the market is great!

I must thank OrangeRoshan for his teachings of SDRC, and the people on teamspeak who are very helpful. Especially Traderbill who warned us yesterday that the news could affect the EurUsd as it was about to break out.

Looking forward to some money management guides to help protect my investments. My first 5 pips I gain gave me a profit of $0.05. I cant even buy McDonalds with that! Silly me put a lot amount of .05! The force is strong! But I need more to afford my lightsaber!

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Quoting FxBabe

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Hi,
Thanks for your reply to my post.
Bom-Bom said from December 2006 to present he has never been stopped with a sl of 55 pips. That information is the most useful in his very long post.

A fellow trader asked for a simple expert, where we can change the tp and sl, and see which combination is most profitable. Im sure such an expert has already been created before in this thread. Can someone direct me, us, to the particular post? Maybe we can backtest it with say 80 tp and 35 stop loss, etc..

If someone has had a bad trade and tells us of it, then we should welcome that. Not reply to say only positive posts are welcomed. We should create realism in this thread and not be dreaming that this system is good because we have been unsuccessful in the past, although it may be.

OR has put alot of effort in this thread and forum. We thank him for that, but we will continue to constructively critisise the system if we want, which is healthy.

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Quoting cgldsmth

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I'm beginnign to tire of Interbank's 4 pip spread on cable. I know they say it's only 3 but this is rare for me. May move SRDC over to EURUSD where it seems they stick to 2 more often.

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Quoting edcheong

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Hi Skyline,

thanks for all your contribution...am very grateful.
Are you able to tweek your code below to become a % TS....because i am thinking of testing SRDC with %TS to see how the result goes.
yes...i love skyline...the car rocks!
thks,
ed

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Quoting Digitalis

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Interesting stuff. I was on the Teamspeak session just now, going through the losing trade I made yesterday with 4Rex. It's great to talk it through with somebody else, it helped me to see what went wrong.

My trade was SRDC I Advanced when it broke yesterday's high. I followed the rules and lost 30 pips.

I realise now that I made a wrong decision: I decided to be cautious because the price was close to the round number, which could have acted as resistance and so traded the Advanced method.

In fact, what I should have realised is that very often, when a round number is broken, there is a reasonable amount of momentum that generally takes the price up 10-20 pips before it falls back again.

Based on this knowledge, I made the wrong choice of method, I should have used the simple approach, taken the trade when it broke the high and made my 5 pips. A good learning experience!

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