Sonic R. System

Wallast500,

Please share your 15-point checklist and the results of the use of seven different CCI. Which indicators have you tweaked?

Thank you.

Sonic, fundamentally it is bearish IMHO (Japan GDP -3.3%). But we have a gap here. So what is your bias now for EURJPY? Are you just waiting the gap filled and make short entry or directly looking a long entry with pure TA (gap filled, sonic dragon, etc)?

Thanks in advance.

I thought I would upload the extra indicators I use.

Maybe somebody can have a look at them and see if they are any help at all.

I use the following additional indicators:

1.) LSMA-in-3color
What is an LSMA? It stands for Least Squares Moving Average and the indicator plots the endpoint of the linear regression line. By comparing the current value to the prior value a determination is made of a possible trend, ie the linear regression line is pointing up or down.

Use the close of the current candle after it is finished and the next candle is forming as the end point. That avoids the problem of a candle changing the value of the indicator in real time.

I realize the CCI uses a similar LSMA but it just more visually appealing to me on the actual price chart

2.)Candlestick Pattern Recognition:
This is especially useful to me for trade setups when a candle is piercing either the upper or lower band of the EMA.
I.E. A bullish candle pattern on a potential LONG trade will just serve as an additional confirmation and the reverse for a potential SHORT trade.

3.)Autotrend Channel:
This indicator establishes the shorter term trend. I normally wait for the shorter term trend (Autotrend Channel) to align itself with the SHI Channel. Once both channels are sloping in the same direction I have more confidence in the direction of the currency pair.

4.)WolfWave:
I use this indicator to "simplify" wave analysis. Wolf waves are defintely no substitute for Elliot waves, but the wolfwave indicator does plot simple wave patterns and I have found that they are sufficient for this type of trading. Any wave analysis is just way to complicated and subjective to me, that is why I like a indicator that can plot simple waves.
From my very limited research I have found that wolf waves have been used quite effectively in other markets such as stocks & futures. So I'm not quite sure how effective they are in FX.

Anyway just my two cents.

Cheers guys

Here's my personal checklist.

Sonic made a brilliant point...we should trade on the highest PROBABILITY available to us.

That is what I primarily use the checklist for.

If 12 or more conditions (out of a possible 15) are met then the probability of a successful trade increases. 12/15 = 80%.
Using a list has also taken the guess work out of trading for me and probably more importantly it controls the emotional side of things.

Well I have found it works for me in anyway

117.5x a strong break will make a nice Long..set up...

Have ur MM in place..

Sonic

sonic nv enter chatroom ><

Me lost again, entered EJ Long during london opening see the price keep falling I closed at a lost ><

arghhhhhhhhhhhhhhhhhhhhhhhhhh
where to find money sia ><

Hmm.. not much to do today since this is a US Holiday. I avoid a day trade and looking for scalp trade only. Will hangin around with trade simulation using sonic's system.

I think its better to not trade today.

Regards

simulation?? Do u have it??
That will be nice if u post it here...


Eternal...where is ur set up pic??
http://img27.imageshack.us/img27/3499/npnt1psd5ua.jpg
u better put effort and try out on simulator....If u can't make money demo/simulation... then...


Sonic

Hi bro where did u place your stop loss ?
base on setup your stop loss should be at 116.50 area

GU buy stop in place.

Here ya go. Credit goes to Cobra who put it on his THV Thread and also LFH who built this. Please read the manual.

what show is that???

No picture la... lose so much post liao no use >< ... I close maually, cuz I sort of thing there's a short 'breakout' as it short thru the support line...

PS> and after I closed my trade, entered short, now the market going Long, damn sway la... ><

my heart was jumping just now...... i setup mt4 on my new pc. key in buy stop...... later realise that my buy stop trade taken at 1lot instead of my usual 0.1lot.

follow my rule, close the trade with $70 profit and reenter again with my usual 0.10lot.

Specially for eternalrealm,
http://www.forexfactory.com/member.php?u=43541

After reading the profile, go download the simulator here :

Simulator:
http://www.forexfactory.com/attachme...chmentid=89818

Go practice in your freetime on weekends.

Good Discipline... Congrat for ur profit..

Sonic

http://www.interactivebrokers.com.hk...p?ib_entity=hk

Look like a positions trader have take their pos...
As the vol is picking up but the price refuse to go up or down....

I'd say..downside is limited....for now...
as Obama will signing the stimulus and stuff....


Sonic

if i never follow my rule, now the trade has become huge losses for me.

i told myself that i will not be so lucky next time.

aside to eternalrealm i suggest that you read the book Adventures of a currency trader by Rob Booker
http://www.amazon.com/Adventures-Cur.../dp/0470049480

D**n. Psiholong is 22 yrs and now I just knowing RR starts in 14 yrs. It's look like I'm a prehistoric man