Sonic System!!

Quoting frito

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Sonic, does the live.com email work with mt4 alerts? Gmail doesnt , not for me at least...

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Quoting soul

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Hi, StartOverNow

can you post your SonicStriker_EA_v2.21.ex4 with source code?


I wanna make some amendment in it

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Quoting soul

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Hi, StartOverNow

can you post your SonicStriker_EA_v2.21.ex4 with source code?


I wanna make some amendment in it

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Quoting startovernow

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Here it is. It hasn’t opened a trade so far this week so I am not sure it is working or not.

Thanks

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Quoting tommyd

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fyi: I just had a trade opened using the 2.21 version on the eurjpy long at 162.730
time 07:46 my time
all default settings as downloaded.

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Quoting tommyd

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fyi: I just had a trade opened using the 2.21 version on the eurjpy long at 162.730
time 07:46 my time
all default settings as downloaded.

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Quoting sonicdeejay

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it is 162.97 now...make sure...to follow MM...It will face lot resistance to brek 163 ceiling...
Once 1st +30 Pips...SL move to BE and take 1st lot profit...

All the Best!
sonic

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Quoting tommyd

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v2.21

There went another,
gbpusd long @ 1.8571
time on the hour.

If i am not mistaken there should be no more orders possible until the last 10 minutes of the current bar.

I have it running on 4 hr charts.

GJ GU GC EA EU EJ

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Quoting paradoxical

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OK...wilkl move the EA to the one hourchart next week & see what happens.

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Quoting Warren Forex

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I just posted this on another thread that I started here on Forex Factory at the beginning of 2008.

Since it is from different information sources and I edited it as well I will just post it here as I posted it in The Fundamental USD/JPY Thread.

For everyone both new and experienced and in between ignore these proven rules of trading at your financial peril.

Everytime I have ignored the most important ones I have lost money trading FX ...

It is well worth the time to write the most important rules down by hand or in your computer in order to make it part of your mindset.

Have a Great Weekend ...

Hard Work and Patience ALWAYS pays when you are ready to learn properly your profession. There are no short cuts to winning in FX and in Life.


Bruce

Copy and Paste ...

http://www.forexfactory.com/images/s...n/post_new.gif Aug 23, 2008 7:33am (1 min ago)
Warren Forex http://www.forexfactory.com/images/s...ser_online.gif
Warrenforex
Member Since Sep 2006
Posts: 1,739


http://www.forexfactory.com/images/icons/icon14.gif Missing In Action !
It has been awhile since I posted on this thread. I found this morning some rules well established to work in commodity trading. I am reproducing some of the more important ones here to read. Here they are. I have also edited them so it relates to Forex Currency trading.

Gann’s "28 Valuable Rules." It is best that you read these rules once a day before you make a trade.
1. Amount of capital to use: Divide your capital into 10 equal parts and never risk more than one-tenth of your capital on any one trade.


2. Use stop loss orders. Always protect a trade


3. Never overtrade. This would be violating your capital rules.


4. Never let a profit run into a loss. After you once have a profit of 10 PIPS or more, raise your stop loss order so that you will have no loss of capital.

5. Do not buck the trend. Never buy or sell if you are not sure of the trend according to your charts and rules.

6. When in doubt, get out and don’t get in when in doubt.

7. Trade only in active markets. Keep out of slow, dead ones.

8. Equal distribution of risk. Trade in two or three different Currency Pairs if possible. Avoid tying up all your capital in any one Currency Pair.

9. Never limit your orders or fix a buying or selling price. Trade at the market.

4

10. Don’t close your trades without a good reason. Follow up with a stop loss order to protect your profits.

11. Accumulate a surplus. After you have made a series of successful trades, put some money into a surplus account to be used only in emergency or in times of panic.

12. Never buy or sell just to get a scalping profit.

13. Never average a loss. This is one of the worst mistakes a trader can make.

14. Never get out of the market just because you have lost patience or get into the market because you are anxious from waiting.

15. Avoid taking small profits and big losses.

16. Never cancel a stop loss order after you have placed it at the time you make a trade.

17. Avoid getting in and out of the market too often.

18. Be just as willing to sell short as you are to buy. Let your object be to keep with the trend and make money.

19. Never buy just because the price of a Currency Pair is low or sell short just because the price is high.

20. Be careful about pyramiding at the wrong time. Wait until the Currency Pair is very active and has crossed resistance levels before buying more, and until it has broken out of the zone of distribution before selling more.

21. Select the Currency Pairs that show strong uptrend to pyramid on the buying side and the ones that show definite downtrend to sell short.

22. Never hedge. If you are long one Currency Pair and it starts to go down, do not sell another Currency Pair short to hedge it. Get out at the market: Take your loss and wait for another opportunity.

23. Never change your position in the market without a good reason. When you make a trade, let it be for some good reason, or according to some definite rule; then do not get out without a definite indication of a change in trend.

24. Avoid increasing your trading after a long period of success or a period of profitable trades.

25. Don’t guess when the market is top. Let the market prove it is top. Don’t guess when the market is bottom. Let the market prove it is bottom. By following definite rules, you can do this.

26. Do not follow another man’s advice unless you know that he knows more than you do.

27. Reduce trading after first loss; never
increase.

28. Avoid getting in wrong and out wrong;
getting in right and out wrong: This is making double mistakes.


Jesse Livermore
Understanding Speculation

I think the most valuable knowledge one can gain regarding trading and markets comes from studying market history, and studying the methods of successful traders of the past.
In the early part of the 20th century, Jesse Livermore was the most successful (and most feared) stock trader on Wall Street. He predicted the stock market crash of 1907 and once made $3 million in a single day. In 1929, Livermore went short several stocks and made $100 million. He was blamed for the stock market crash that year, and solidified his nickname, "The Boy Plunger." Livermore was also a successful commodities trader.

Here are some valuable nuggets I have gleaned from the book, "How to Trade in Stocks" (Traders Press, 2001) by Jesse Livermore (with added material from Richard Smitten). Most of the following nuggets are direct quotes from Livermore:

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical (technical) formations and patterns recur on a constant basis."
"The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor."
Don’t take action with a trade until the market, itself, confirms your opinion. Being a little late in a trade is insurance that your opinion is correct. In other words, don’t be an impatient trader.

Livermore’s money made in speculation came from "commitments in a stock or commodity showing a profit right from the start." Don’t hang on to a losing position for very long.
"It is foolhardy to make a second trade, if your first trade shows you a loss. Never average losses. Let this thought be written indelibly upon your mind."
"Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes."
"When a margin call reaches you, close your account. Never meet a margin call. You are on the wrong side of a market. Why send good money after bad? Keep that good money for another day."
Livermore coined what he called "Pivotal Points" in a market or a stock. Basically, they were (1) price levels at which the stock or market reversed course previously (i.e., previous major tops or bottoms) and (2) psychological price levels (such as 50 or 100, 200, etc.)buy a stock or commodity that saw a price breakout above the Pivotal Point, and sell a stock or commodity that saw a price breakout below a Pivotal Point.
"Successful traders always follow the line of least resistance. Follow the trend. The trend is your friend."
A prudent speculator never argues with the tape. Markets are never wrong—opinions often are.

Few people succeed in the market because theyhave no patience. They have a strong desire to get rich quickly.
"I absolutely believe that price movement PaTTerns are being repeated. They are recurring patterns that appear over and over, with slight variations. This is because markets are driven by humans—and human nature never changes."
When you make a trade, "you should have a clear target where to sell if the market moves against you. And you must obey your rules! Never sustain a loss of more than 10% of your capital. Losses are twice as expensive to make up. I always established a stop before making a trade."
"I am fully aware that of the millions of people who speculate in the markets, few people spend full time involved in the art of speculation. Yet, as far as I’m concerned it is a full-time job—perhaps even more than a job. Perhaps it is a vocation, where many are called but few are singled out for success."
"The big money is made by the sittin’ and the waitin’—not the thinking. Wait until all the factors are in your favor before making the trade.
"
An important point I want to make is that Jesse Livermore’s trading success did not come from any "inside" information or from some huge store of knowledge he had about each and every stock or commodities market he traded. Livermore’s trading success was derived from his understanding of human behavior. He realized early on that markets and stocks can and do change—but people and their behaviors do not. Therein was his formula for trading success—which has lived on and has not changed since Livermore’s heyday in the stock and commodities markets almost a century ago.


Richard Wyckoff
Limiting Risk
Richard D. Wyckoff is another famous trader of the early 20th century. (Many readers ask if I am related to Richard Wyckoff. No, I am not. However, I always tell folks it’s not a bad last name to have in my business.)

I derived much of my information on Richard Wyckoff from two good books: The first is "How I Trade and Invest in Stocks & Bonds," by Wyckoff. This book was first published in 1924 by "The Magazine of Wall Street." The second book is "Charting the Stock Market: The Wyckoff Method," first published in 1986 by Jack Hutson, the publisher of the magazine "Technical Analysis of Stocks & Commodities."

Richard Wyckoff, like Jesse Livermore, was a Wall Street stock trader in the early 1900s. Wyckoff’s first job (at age 15) in 1888 was as a stock runner on Wall Street. By the age of 25, he had his own brokerage office. He also published his own market magazine and advisory newsletter.

Wyckoff’s basic trading methodology was to chart price, volume and their relationship over time. He would then search for "turning points" in the stocks or markets. He also grouped stocks into sectors and then charted the sectors. He called these "wave charts." Wyckoff believed that stock price action consists of waves of buying (or selling) that last just as long as they can attract buyers (or sellers). When that following is exhausted, the wave stops and a counter-wave begins. His theory is not unlike the Elliott Wave theory. Importantly, Wyckoff’s method in determining critical turning points was based not on mathematical formulas, but on investor psychology.
Below are some valuable "nuggets" I gleaned from the two books above. Many of these nuggets are direct quotes from Wyckoff.
"Anyone who buys or sells a stock, a bond or a commodity for profit is speculating if he employs intelligent foresight. If he does not, he is gambling."

Wyckoff’s goals were to select only stocks that move soonest, fastest and farthest in bull or bear markets. He limited losses and let profits run.\

"Stock market technique is not an exact science. Stock (and commodities) prices are made by the minds of men (and women)." Mechanical trading methods or mathematical formulas cannot compete with good human market judgment.

Whenever you find hope or fear warping judgment, close out your position.
Being in the market at all times is not the key to profits. Being in the market when there is a clear, unconfused technical signal and the trader’s judgment is not swayed by emotion was Wyckoff’s method for trading success.
"I have yet to find a man, in or out of Wall Street, who is able to make money in (markets) continuously or uninterruptedly. Like anyone else, I have good and bad periods."
"Success in trading means excess of profits over losses. If anyone tells you they can almost be invariably successful, put him down as trying to impose on your credulity."
"While I have made it a practice to limit my risk in most cases, I can trace most of my principal losses to my failure to place stop orders when the trades were made."
"Whenever a (market) situation is not entirely clear to me, I find I can clarify it by putting down on paper all the facts, classifying them as favorable and unfavorable. In thus writing it down on paper, I not only have time to reason out each point as I go along, but when I get it all down it can be looked over and analyzed to much better advantage."
"People are successful in business because, while they make mistakes at first, they study these mistakes and avoid them in the future. Then by gradually acquiring a knowledge of the basic principles of success, they develop into good business men. But how many apply this rule to investing and trading? Very few do any studying at all. Very few take the subject seriously. They drift into the market, very often get ‘nipped’ as the saying is, avoid it for a while, return from time to time with similar results, then gradually drift away from it, without ever having given themselves a chance to develop into what might be good traders or intelligent investors. This is all wrong. People go seriously into the study of medicine, the law, dentistry, or they take up with strong purpose the business of manufacturing or merchandising. But very few ever go deeply into this vital subject (of trading and investing) which should seriously be undertaken by all.

I hope everyone reads and understands this great knowledge of the past and the present and the future.

__________________
One Of My Favorite Video's on FX Trading !!!
http://broadcast.ino.com/education/t...eboard_6/?blog

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Quoting sonicdeejay

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Take alook @ EJ weekly and Daily chart.....

Looks like Hammer in a making and needs a follow up bullish candle "to confirm the uptrend".... but bearish divergence spotted,so might go low before it move back up..

Entry should be above this week "high", Blue Line....with SL near the low of candle..

As for the flip side,if the price slide down to 160.50/161 lvl.Short should be taken with TP 159 lvl...



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http://www.forexfactory.com/attachme...1&d=1219504112

Sonic

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Quoting dan_mir

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Hi sonic,
I did some tests with V2.2 on strategy tester and saw that several times the signal appears somewhere during the 4 hours of the candle.
It made me think that I miss something in the way you trade - I know you have a daily job so you can't be in front of your PC all day. I also know that you don't use the EA for entering a trade.
So how do you do it ? do you check the charts every 4 hours and trade based on the signal on the prev candle?
BR
Dani M.

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