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Sonic R. System

  • #3,581
  • Jul 10, 2009 2:22am Jul 10, 2009 2:22am
Thanks + 80
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  • #3,582
  • Jul 10, 2009 2:44am Jul 10, 2009 2:44am
Quoting Muhammad989
here is my e/j trad
here is TP hit 65 +
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FxHome
  • #3,583
  • Jul 10, 2009 2:59am Jul 10, 2009 2:59am
Just finished my E/U short with +59 pips of profit!

Finally doing something constructive, instead of just rushing into every single trade.
  • #3,584
  • Jul 10, 2009 3:13am Jul 10, 2009 3:13am
Can we consider UJ short if it bounces of the triangle?
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  • #3,585
  • Jul 10, 2009 4:39am Jul 10, 2009 4:39am
Quoting lmarti21
That's the best way . My stop loss was hit from my trade on post 3560 could you please comment on my entry and my Target.

thanks
lmarti21
Hello My Friend,
Let Me Tell You Something, There Is Nothing Wrong With Your Entry, But If I Were You , I Would Have Quited The Position Because Of Some Reasons :
1) Look At The Mess That We Have In Breaking The Wave.
2) Look At The Divergence
3) Look At CCI, Failed To Pass The Zero Line And Turned Green At The Time That You Entered The Setup.

But The Point I Want To Make Here Is, You Can Give Some Grades To Positions ... I Was B Grade I Think ... Look At The Wave ... I Show You With Pink Lines How The Waves Should Be To Make ME Trade This Setup. That's Why More Experienced Traders Tell The Others To Demo Every Method Or Setup That You Want To Work With, Because After Some Time , You Will Be More Capable Of Seeing Better Setups With The System And You Will Be More Picky.

P.S. : I Think The Most Boring Part And Ofcourse Hardest Part In Trading Is WAITING For A Good Setup. Newbies Think When They Are Monitoring The Market, Are Not Trading , But That's Not True.
I Didn't Point This To You, I Just Wanted To Say This

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #3,586
  • Jul 10, 2009 4:49am Jul 10, 2009 4:49am
Quoting snusnufreak
Just finished my E/U short with +59 pips of profit!

Finally doing something constructive, instead of just rushing into every single trade.
Nice Trade You And Muhammad And GG-Trader Have There ... Miss Them By Being Sleep
You See, If You Want To Know A System (Not SonicR, Every Other System Or Method) That Works, You Should Try It On Demo, Because Not Even 2 Traders With a Same Method Or System, Trade Exactly Like Each Other ... You Should Customize It With Your Style And Personallity. After A Little Time, You Will Find Some Profitable Ways To Get The Pips Out Of The Market ...
Glad To See It's Working For You

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #3,587
  • Jul 10, 2009 4:54am Jul 10, 2009 4:54am
Careful With The News. 12:30 GMT, USD & CAD Trade Balance

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #3,588
  • Jul 10, 2009 5:05am Jul 10, 2009 5:05am
LOL

I am come back....

Today i have get 70pips from EU

Thanks sonic ...
  • #3,589
  • Jul 10, 2009 5:32am Jul 10, 2009 5:32am
Quoting chemfly
Today i have get 70pips from EU
No Pic No Talk

http://i477.photobucket.com/albums/r...ABG_NPNT-1.gif

Sonic
  • #3,590
  • Edited 7:59am Jul 10, 2009 5:42am | Edited 7:59am
GU m15

Not a perfect trade as the money management part not being very well.

But it does hit TP1 and 60% of position is closed.

Currently wait for TP2.

Add-On:
Why I said the money management part not being very well?
Is bcoz my SL was 75pips away from EP, while TP1 was 60pips away from EP.
Risk:Reward ratio doesn't match 1:1.

MPH

Add-On:
Remaining Position closed around TP1 area due to +ve divergence found in m15.
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  • #3,591
  • Jul 10, 2009 8:26am Jul 10, 2009 8:26am
gg -trader u there
FxHome
  • #3,592
  • Jul 10, 2009 8:43am Jul 10, 2009 8:43am
Quoting Muhammad989
gg -trader u there
yes i m here brother ..
  • #3,593
  • Jul 10, 2009 10:12am Jul 10, 2009 10:12am
Could anyone plz tell me how do i "read" higher TF.

Let's take a look at a current G/U as an example:

On H1 TF is it a move up or just a retracement up? How do I decide?
Is an overall trend allready up or still down? What is meant by an overall trend? If its HHs and HLs then I think its up. But again the last swing was down and right now price retraced to 38 fib lvl, does that mean it will go down further?

All this confuses me alot, so I would like to hear a nice solid explanation.

Thank you!
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  • #3,594
  • Jul 10, 2009 10:37am Jul 10, 2009 10:37am
Quoting snusnufreak
Could anyone plz tell me how do i "read" higher TF.

Let's take a look at a current G/U as an example:

On H1 TF is it a move up or just a retracement up? How do I decide?
Is an overall trend allready up or still down? What is meant by an overall trend? If its HHs and HLs then I think its up. But again the last swing was down and right now price retraced to 38 fib lvl, does that mean it will go down further?

All this confuses me alot, so I would like to hear a nice solid explanation.

Thank you!
Hi snusnu,

First, may I suggest that for higher time frame analysis use a chart with no indicators. You are not looking for SonicR, you are looking for Support and Resistance, and overall trend:

1) Support and Resistance

a) prior highs and prior lows will be the most important S/R levels
b) trendlines and channel lines will be of secondary importance

2) For trend, identify highs and lows, and look for higher highs and higher lows for uptrend, and lower lows and lower highs for downtrend.

Highs and Lows, Higher Highs and Higher Lows, Lower Highs and Lower Lows, all in relation to the prior High and prior Low.

The red lines on this chart are the swings and the blue line is the current swing high that must be bettered to turn trend from down to up.

Good Luck,

ddaytrader
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  • #3,595
  • Jul 10, 2009 10:43am Jul 10, 2009 10:43am
Quoting ddaytrader
Hi snusnu,

First, may I suggest that for higher time frame analysis use a chart with no indicators....
Thank you very much for your simple and thorough explanation, ddaytrader.
I appreciate your help.
  • #3,596
  • Jul 10, 2009 8:39pm Jul 10, 2009 8:39pm
Quoting ddaytrader
Remember, if you don't bet, you can't win. A young trader who I have been helping took the same EJ as you did. She took a loss. But yesterday, a SonicR on the EJ ran for 300+ ticks.

You just have to keep taking your shots, and make sure your profit targets are 2-3 times bigger than your stop losses.

Good night and Good luck tomorrow (or today, depending upon where you are)

Thanks Ddaytrader for the support.

Cheers
Lmarti21
  • #3,597
  • Jul 10, 2009 8:50pm Jul 10, 2009 8:50pm
Quoting Basber
Hello My Friend,
Let Me Tell You Something, There Is Nothing Wrong With Your Entry, But If I Were You , I Would Have Quited The Position Because Of Some Reasons :
1) Look At The Mess That We Have In Breaking The Wave.
2) Look At The Divergence
3) Look At CCI, Failed To Pass The Zero Line And Turned Green At The Time That You Entered The Setup.

But The Point I Want To Make Here Is, You Can Give Some Grades To Positions ... I Was B Grade I Think ... Look At The Wave ... I Show You With Pink Lines How The Waves Should Be To Make ME Trade This Setup....
Thanks Basber for your detailed comments . I greatly appreciate this.

Lmarti
  • #3,598
  • Jul 10, 2009 9:01pm Jul 10, 2009 9:01pm
[quote=ddaytrader;2866055]Hi snusnu,

First, may I suggest that for higher time frame analysis use a chart with no indicators. You are not looking for SonicR, you are looking for Support and Resistance, and overall trend:


Good Luck,

Would it be useful if we place a Rsi or qqe on the larger time frame , in order to be able spot divergence?

Kind Regards
lmarti21
  • #3,599
  • Jul 10, 2009 9:28pm Jul 10, 2009 9:28pm
[quote=lmarti21;2866924]
Quoting ddaytrader
Hi snusnu,

First, may I suggest that for higher time frame analysis use a chart with no indicators. You are not looking for SonicR, you are looking for Support and Resistance, and overall trend:


Good Luck,

Would it be useful if we place a Rsi or qqe on the larger time frame , in order to be able spot divergence?

Kind Regards
lmarti21
I would suggest that it is best to avoid all indicators on higher time frames. Remember, SonicR is a great system because it is based on Price Action, Support and Resistance, and uses indicators to confirm, not to trigger trades. I am convinced that SonicR is as reliable as it is precisely because of this point: It is a price based trade and not an indicator based trade.

This means that over time, with experience, you will learn to recognize SonicR set ups on the 15m even without any of the indicators. If you keep your higher time frame charts clean, you will quickly learn to focus on price. Everything you need to know about where price is and where it has been is already on the price pane. In my opinion, you will do yourself the biggest favor of your trading life by not diverting your eyes from price on the higher timeframes.

Good Luck,

ddaytrader
  • #3,600
  • Edited 10:15pm Jul 10, 2009 9:32pm | Edited 10:15pm
Quoting ddaytrader
I am convinced that SonicR is as reliable as it is precisely because of this point: It is a price based trade and not an indicator based trade.
P.S. Read Sonic's posts throughout this thread. I am sure he too uses naked charts on the higher timeframes. Also, pay attention to how he emphasizes wave analysis and support and resistance. That is the back bone of his system. That is why over time we can change the indicators and tweek SonicR each to our own likeing, but it still works - because of the H-L-HH and the L-H-LL.
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