This method basically employs trading breakouts of previous day high or low. It is a high probability setup and can be traded on most pairs effectively. Sometime back in 2006 a guy by username of orangeroshan started a thread for his SRDC method and had quite a huge following. His methods are based on the break of yesterday high or low levels along with his so called more advanced methods or systems. However in my opinion, its the basic strategy that is worth many pips, the other complimentary methods are really "just another system". I have attached below, the original document describing his strategy uploaded by orangeroshan in his thread.
Why did I bring up this strategy again ? Not because other methods didn't work, but rather circumstances in my life has changed that I do not have as much screen time as before. I will not go too much into detail about what happened but forex trading is still a major source of income for me. (I started trading full time as of late 2007). Not being a fan automated trading, I needed a quick and decisive way to locate high probability setups and I "rediscovered" this simple and effective way to trade. Use this along with you own technical or fundamental analysis. Pull out the charts of your favourite pairs and see whats happens to the PA when these levels are breached.
If there is anybody who like me has forgotten how simple and mundane finding profitable trades can be....here is something to share
Do note that I do not use the strategy exactly as described in the doc, but rather as a guide, I have my own ways to milk more pips out of it when opportunities occur.
Regards
mARK
Why did I bring up this strategy again ? Not because other methods didn't work, but rather circumstances in my life has changed that I do not have as much screen time as before. I will not go too much into detail about what happened but forex trading is still a major source of income for me. (I started trading full time as of late 2007). Not being a fan automated trading, I needed a quick and decisive way to locate high probability setups and I "rediscovered" this simple and effective way to trade. Use this along with you own technical or fundamental analysis. Pull out the charts of your favourite pairs and see whats happens to the PA when these levels are breached.
If there is anybody who like me has forgotten how simple and mundane finding profitable trades can be....here is something to share
Attached File(s)
OrangeRoshan SRDC method.doc
113 KB
|
2,574 downloads
Do note that I do not use the strategy exactly as described in the doc, but rather as a guide, I have my own ways to milk more pips out of it when opportunities occur.
Regards
mARK