Sonic System!!

Quoting sonicdeejay

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Max

Is it something lik tat??

sonic

1st TP @30pips..SL move to BE
2nd TP @60pips.
3rd TP @90pips.
4th TP let it run!
Trade window = 10 mins ( EA will only open trade if the sonic signal appears within 10 mins from the start of new candle,.)

sonic

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Quoting Maxoxide

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yes..exactly the same as mine except the trade window part, mine is 30 m.

Max

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Quoting dan_mir

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Sonic,
When trading live, do you use 80 pips SL ?
I seem too much IMO for intra day trading.
Dani M

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Quote

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Things which helped to take my trading to the next level

BASICS
I can’t stress this enough. Before slapping on indicators or even picking up a method from someone, learn the basics. Some of the basics may include:
a) Support + resistance
b) Knowing how the market moves (ie. in waves – this does not mean Elliot waves, just basic waves)
c) Knowing what a peak/valley is and being able to spot it on a naked chart


RESPECT FOR THE MARKET
If there’s one thing I’ve learned, it’s to respect the market. Most importantly, knowing when to admit you’re wrong. This was a very big turning point for me and the waves helped me a great deal with this. Trading is all about probabilities. It’s a numbers game, make sure you ingrain this into your head.


REWARD:RISK RATIO
I picked this up from Peter Crown’s thread on Dibs. I’ve heard it a million times too but I think after hearing it from him, it stuck more. Might have to do with him being a former pit trader.

“Losses are just losses. Make sure they are smaller than your winners in aggregate and you're home free.”


EARNING THE RIGHT TO TRADE BIG
One of the tests I’ve been doing in recent days was comparing trading big versus trading small. I arrived at a very interesting conclusion.


TRADING BIG
ADVANTAGES
a) Potential to make lots of money.

DISADVANTAGES
a) A few losing trades could wipe you out.
b) Emotions run higher and you’re more likely to pull the trade if it goes against you 30 pips since more money is on the table.
c) You’re less likely to let winning trades run giving you poor reward:risk ratio as a result and making your trading method inefficient.


TRADING SMALL
ADVANTAGES
a) Less risk involved per trade.
b) Since you’re trading small, you’re more likely to let winners run and this in turn will give you a higher reward:risk ratio.
c) Less stress and less emotions attached to each trade.
d) Your account not only grows quicker because winners are running more, but it grows at a more consistent rate.
e) Overall you are maximizing profits, minimizing losses and overall performance is more efficient.

DISADVANTAGES
None.


USING LIMIT ORDERS
I found out this past week that whenever I use limit orders instead of market orders my trades seem to do better. Not only am I following a more rigid plan this way but I enter in at better prices. Once the order is triggered, just let the trade play out.


HAVING A TRADING PLAN FOR PROFITS AND LOSSES
This is a biggie for me. One thing that traders should definitely consider is drawing up a plan on how they will handle losses versus profits actually gained. I’m not sure if this has been discussed before on the forums but I regard this as VERY important. It’s all very well once you’ve made profits but what then? Do you withdraw? Do you keep it and compound on that? If you run into a string of losses, do you have a plan to slow down the compounding that will work against you? Careful thought and consideration must be taken because this is all part of both trade and risk management. Make sure you have a plan for both of these scenarios BEFORE you start trading.

Quoting haslin75

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i have a leading system...means if you tell me whereabout change of trend..i can give you the entry price which is much earlier than any indicator would be able to tell you...

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Quoting sonicdeejay

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Looking nice???


sonic

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Quoting Maxoxide

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looks like tomorrow ill take it short manually at the opening daily candle ODL if at the closing daily candle show inverted hammer or doji.

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Quoting sonicdeejay

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Max,

u gota see it carefully...

It is offical V2.2...

1. More visual in the Chart for clear Price Action Observation
2. Two Indicators Windows Only:
Sonic Slope :: For Overall Market Direction
Sonic Striker v.2.2 :: For Entry/Exit Positions
3. Visual Display of Support and Resistance level and Wave Zig Zag Formation!!


Anyone want it?? Do not PM me..Just post it here......

sonic

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Quoting sonicdeejay

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Max,

u gota see it carefully...

It is offical V2.2...

1. More visual in the Chart for clear Price Action Analysis.

2. Visual Display of Support and Resistance level and Wave Zig Zag Formation!!

3. Two Indicators Windows Only:
Sonic Slope :: For Overall Market Direction
Sonic Striker v.2.2 :: For Entry/Exit Positions

4. Sonic Striker EA V22, open postions and manages your enteries according to Sonic Money Management.

Anyone want it?? Do not PM me..Just post it here......

sonic

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Quoting sonicdeejay

Disliked

Max,

u gota see it carefully...

It is offical V2.2...

1. More visual in the Chart for clear Price Action Analysis.

2. Visual Display of Support and Resistance level and Wave Zig Zag Formation!!

3. Two Indicators Windows Only:
Sonic Slope :: For Overall Market Direction
Sonic Striker v.2.2 :: For Entry/Exit Positions

4. Sonic Striker EA V22, open postions and manages your enteries according to Sonic Money Management.

Anyone want it,of coz,it is FREE?? Do not PM me..Just post it here......
I may/will be completing the whole package soon...

sonic

Ignored

Quoting sonicdeejay

Disliked

Max,

u gota see it carefully...

It is offical V2.2...

1. More visual in the Chart for clear Price Action Analysis.

2. Visual Display of Support and Resistance level and Wave Zig Zag Formation!!

3. Two Indicators Windows Only:
Sonic Slope :: For Overall Market Direction
Sonic Striker v.2.2 :: For Entry/Exit Positions

4. Sonic Striker EA V22, open postions and manages your enteries according to Sonic Money Management.

Anyone want it,of coz,it is FREE?? Do not PM me..Just post it here......
I may/will be completing the whole package soon...

sonic

Ignored