- #34,604
- May 9, 2012 5:58am May 9, 2012 5:58am
- | Commercial User | Joined Mar 2008 | 9,095 Posts
hi, sonic
may i hope for a long?
Dun try picking bottom..
Sonic
- #34,608
- May 9, 2012 7:09am May 9, 2012 7:09am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #34,609
- May 9, 2012 7:13am May 9, 2012 7:13am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #34,611
- Edited 7:53am May 9, 2012 7:40am | Edited 7:53am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
TAH, how often are your targets hit percentage wise, and whats your risk reward ratio normally, and whats your win loss ratio using the system please.
2. Varies due to mental SLs.
3. Quite good, actually.
Andy, if you really want such stats, then follow my trades and collect them. I'd be mildly interested to know, but I don't bother with such stuff myself. I do post weekly summaries (or bi-weekly, etc.) which could give you the ratio of wins to losses.
-tah
- #34,612
- May 9, 2012 7:46am May 9, 2012 7:46am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
- #34,614
- Edited 8:50am May 9, 2012 8:14am | Edited 8:50am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
excuse me Mr. Tah Iwould like to ask a few question. I'm curious about the spike caused by the BB, since the spike always get my stop loss usually how much pip you set for stop loss?and how you distinguish between spike and a reversal?
thank you very much in advance.
Master Sonicdeejay suggests setting the SL wide when you suspect whipsawing might occur (or, even if you don't). And he suggests that it not be set wider than around 100 pips from your EP.
I often set SLs closer, but they are mental (trying to see if I can get a grip on sensibly setting close SLs). If they are hit, I frequently let the trade ride, even sometimes for more than 100 pips in the red. Going much more than 100 pips into the red is not a good idea, and frequently it makes me wish I'd accepted a 20-40 pip loss and closed out. So, don't follow my "example" regarding setting the SL. Follow Master Sonicdeejay's recommendation on setting the SL. It might not make the "R:R ratio" look attractive, but it can keep you in a good trade should the BBs whipsaw the price because they know it is a good trade!
Distinguishing Liquidity Creation From Reversal:
I guess a trader would have to be either God, or a BB, to do this with any regular success! This is what we are all trying to do, and our success is probably limited, at best, even taken in the context of the larger picture of PA. And this is the reason to be both picky about Sonic R. setups, and to adhere to a sensible money management code.
Having said that, the volume-price story on a low TF, like M5 or M1, can sometimes reveal what the BBs are doing. And there have been posts on that (not to be repeated here), even one yesterday. You might study these when they come up. However, even if one decides that a move is liquidity creation and not a reversal, that only means that there might be more confidence in the next Sonic R. setup in the opposite direction. Sonicers don't trade only on such "conclusions".
-tah
- #34,616
- May 9, 2012 8:18am May 9, 2012 8:18am
Ok no worries, your record seems to be good, aint seen you lose many to be honest.
1. Have no idea.
2. Varies due to mental SLs.
3. Quite good, actually.
Andy, if you really want such stats, then follow my trades and collect them. I'd be mildly interested to know, but I don't bother with such stuff myself. I do post weekly summaries (or bi-weekly, etc.) which could give you the ratio of wins to losses.
Setting The SL:
Master Sonicdeejay suggests setting the SL wide when you suspect whipsawing might occur (or, even if you don't). And he suggests that it not be set wider than around 100 pips from your EP.
I often set SLs closer, but they are mental (trying to see if I can get a grip on sensibly setting close SLs). If they are hit, I frequently let the trade ride, even sometimes for more than 100 pips in the red. Going much more than 100 pips into the red is not a good idea, and frequently it makes me wish I'd accepted a 20-40...
- #34,619
- May 9, 2012 8:40am May 9, 2012 8:40am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,555 Posts
GU:
This looks like another liquidity creation move. Only about half way into the current TF we can see how the BBs pumped up the price to previous SR area. This does not mean it can't go higher. It can. It does show the desire for the market to quickly "restore" prices higher. And for what reason? What does one do at "highs? Sell! We will see later when they finish the pump, what they do afterwards. There are GBP high impact releases coming tomorrow, so this gives the BBs lots of time to build new positions ahead of time.
-tah
This looks like another liquidity creation move. Only about half way into the current TF we can see how the BBs pumped up the price to previous SR area. This does not mean it can't go higher. It can. It does show the desire for the market to quickly "restore" prices higher. And for what reason? What does one do at "highs? Sell! We will see later when they finish the pump, what they do afterwards. There are GBP high impact releases coming tomorrow, so this gives the BBs lots of time to build new positions ahead of time.
-tah
