SRDC V by Orange Roshan - page 2
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Hi JFForex,
In the chart there are no long entry setups.
I assume you were talking about the first two short entry. I have labeled the possible entry and exit places according to trend line filter. The first one you may at least break even or come out with a small profit. The second one is a small loser. The third one should compensate whatever you lost the day.
The thing is, when it happens you may not be there, that's the dillema for SRDC V trader.
The fourth one happened last night, then use the trend line to check whether the run is over or not. It kept running, dropped twice in Asian session, once in Euro, another time in US. When the US drop happens if I am around I may exit because the day is over, but it doesn't hurt much if let it run till tomorrow, the key part to watch is approximately where the circle is, the price may meet the trend line and the envelope again. If the price breaks the trend line, we get out. If the price breaks the envelope again, as long as it's a valid long setup, we enter without fear.
Hope this helps,
ahaThis is really outstanding! Thank you, aha.
This is really outstanding! Thank you, aha.
I know, this trend line drawing method was totally an eye-opener to me. I practise probably tens of times if not hundreds of times a day, just to get a feel of it. Hopefully it will become my nature instinct in the future. Again, Orange is the one introduced me to this method. According to him, a Korean SRDC trader concentrates on scalping with this type of trend line drawing, nothing else, and the highest pip amount that guy harvested once in a day was unbelieveable. Let's put in this way, Orange still haven't beaten the record yet,
.
Hi JFForex,
In the chart there are no long entry setups.
I assume you were talking about the first two short entry. I have labeled the possible entry and exit places according to trend line filter. The first one you may at least break even or come out with a small profit. The second one is a small loser. The third one should compensate whatever you lost the day.
The thing is, when it happens you may not be there, that's the dillema for SRDC V trader.
The fourth one happened last night, then use the trend line to check whether the run is over or not. It kept running, dropped twice in Asian session, once in Euro, another time in US. When the US drop happens if I am around I may exit because the day is over, but it doesn't hurt much if let it run till tomorrow, the key part to watch is approximately where the circle is, the price may meet the trend line and the envelope again. If the price breaks the trend line, we get out. If the price breaks the envelope again, as long as it's a valid long setup, we enter without fear.
Hope this helps,
ahaWhat are you using to determine exit. On first 2 you may have thought it would run like the last one. This looks like it could be good, but as I looked back, there are many, many times it backs up. Is the SL the same as on the river. You said in your post to use that setup, is it correct?
No Offense
Yes, the stop loss is the same as the river, But you may exit before the SL is hit. The river method description is basically the same as SRDC V except the zigzag part and fibo part. The zigzag part is probably introduced by PowerTrader or his team in his forum and I don't know about it. The fibo part is also not from Orange but from another Orange's student called John, PowerTrader and I both learnt it from John, but I only use it as a reference now.
For the first two entries the initial run was pretty slow so I want to protect my equity, that's why I use the tight trend lines to exit, the last one has a huge momentum on initial run, I give it more breath room to run, so I chose the trend line that is a little flatter. But again, trend line drawing is an art instead of mechanical rules, this is why I still haven't found the way to code it into the EA. And this is also why some SRDC V trader makes way more pips than me and why I am still practising hundreds of times in backtesting to get a feel.
ahaNo offense meant to you at all, but can you have some of the people making way more pips post about trendlines. BTW- even if you are in conflict with PT, you should use his video because it is very good for setup and strategy. Is your EA open code also, I would like to look at it. I am a programmer and have not done mt4 long but am pretty good, I would love to help.
Yes, the stop loss is the same as the river, But you may exit before the SL is hit. The river method description is basically the same as SRDC V except the zigzag part and fibo part. The zigzag part is probably introduced by PowerTrader or his team in his forum and I don't know about it. The fibo part is also not from Orange but from another Orange's student called John, PowerTrader and I both learnt it from John, but I only use it as a reference now.
For the first two entries the initial run was pretty slow so I want to protect my equity, that's why I use the tight trend lines to exit, the last one has a huge momentum on initial run, I give it more breath room to run, so I chose the trend line that is a little flatter. But again, trend line drawing is an art instead of mechanical rules, this is why I still haven't found the way to code it into the EA. And this is also why some SRDC V trader makes way more pips than me and why I am still practising hundreds of times in backtesting to get a feel.
Notice the second entry? The one runs pretty fast in the beginning, so I gave it a little more room, but yes, it got back to bite me. That happens.
aha
What are you using to determine exit. On first 2 you may have thought it would run like the last one. This looks like it could be good, but as I looked back, there are many, many times it backs up. Is the SL the same as on the river. You said in your post to use that setup, is it correct?
... Or when the price open outside the envelope, if that candle move fast and crosses the third white line, you may enter immediately. Why the third line? Because it will only give you about 40 pips stop loss and in the testing it leads to win more than loss.
The third white line... this answers my question. I've been thinking why there should be many MA levels if we only need level +/-90. Thanks aha.
None taken. The one who is making way more pips than me is another Orange's student who has been consistently making 1000+ pips a week (last week on our pip boards he was making over 2000 pips). He learnt the same thing as I did, but he executed much better and he is way more disciplined in trading. If he likes to come he will come but I can't have him here.
The EA is not only about SRDC V, so I can't make it open source.
No offense meant to you at all, but can you have some of the people making way more pips post about trendlines. BTW- even if you are in conflict with PT, you should use his video because it is very good for setup and strategy. Is your EA open code also, I would like to look at it. I am a programmer and have not done mt4 long but am pretty good, I would love to help.
You are welcome, smalltalk.
The third white line... this answers my question. I've been thinking why there should be many MA levels if we only need level +/-90. Thanks aha.
Hi Aha.
The third white line -yes.
+/- 90 -yes.
I'm this understands but why need other levels?
I knew someone is going to ask this... after I answered those two questions I was wondering about this one too. When Orange taught us this method, he didn't explain all the details, we have to ask questions to find out those details, and this is one question I don't think anyone has asked.
Hi Aha.
The third white line -yes.
+/- 90 -yes.
I'm this understands but why need other levels?