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Sonic R. System

  • #4,121
  • Jul 23, 2009 9:25am Jul 23, 2009 9:25am
Quoting ddaytrader
Good Morning, Sonikers!

I am eyeballing a SonicShort on the GU, e'll see what happens - only time and the waves will tell!

I'm short now.

EP @ 1.6473
SL @ 1.6520 (-47)
TP1@ 1.6423 (+50)
TP2@ 1.6383 (+90)

Good luck today!
Good mornig "DD"

I entered the same trade as you but my stats were as follows:

EP @ 1.6470
SL @ 1.6527
TP1 @1. 6427
TP2 @ 1.6358

I am having some challenges with TP and i note the difference .why would you take profit at these levels and what do you think about my TP. I am trying to learn fromm you

Kind Regards
Lmarti21
  • #4,122
  • Jul 23, 2009 9:29am Jul 23, 2009 9:29am
Quoting Rastaman
It was crazier when I was in a trade 60 pips in the wrong direction this afternoon. after forgeting to put a SL on. Got out of it ok by the skin of my teeth.
I've been there before myself-only it didn't come back. I'm glad you made it back from beyond!
  • #4,123
  • Edited 10:00am Jul 23, 2009 9:48am | Edited 10:00am
Quoting Rastaman
I often mark nearby strong areas on the weekly and move down to H4 or D1. Maybe these are to high a TF for the M15? WHat do you think?
These levels found on the H4 & daily are very, very meaningful, regardless of timeframe. And if you get a SonicR on the 15M where the entry point will break one of these H4 levels, then you will probably get a big winner. Likewise, if your EP is close to one of these levels, by all means take the trade, but make sure your stop loss is in place immediately in case of a quick reversal.

If you look at this morning's EJ, there was a Sonic R long that would have caught the continuation of the rally that started in Asia (and that rally also had a SonicR signal as well).

I'm going from memory, but I believe that if you go back on your EJ, you will see that SonicR signals (1 short and 3 longs - and the short caught 300+ pip drop) occurred right before the break of the levels pointed out on the attached chart with the white lines.

Good Luck,

d-day
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 7-23-2009 H4 136.xx Here We Come2.jpg Size: 101 KB
  • #4,124
  • Jul 23, 2009 9:59am Jul 23, 2009 9:59am
Quoting lmarti21
Good mornig "DD"

I entered the same trade as you but my stats were as follows:

EP @ 1.6470
SL @ 1.6527
TP1 @1. 6427
TP2 @ 1.6358

I am having some challenges with TP and i note the difference .why would you take profit at these levels and what do you think about my TP. I am trying to learn fromm you

Kind Regards
Lmarti21
I think that your EP, SL, and TP1 are fine, though the SL seems a bit high. We use different brokers with different price feeds so it is very common for different Sonikers to have these price points differ by +/- 5 pips or so.

I see why you chose your TP2. It is very aggressive. I have attached a screen shot where I extend my TP2 line back in time so you can see what I was looking at: My TP2 was at the mid-pivot between the daily pivot and S1, which coincided with a significant fib level, which coincided with the first swing high off of yesterday's low. I set my TP at a figure 2x' my broker spread above that level so I'd have a good chance of getting filled there. I like to find areas where there are multiple reasons for selers to become buyers or buyers to become sellers. Your TP2 was solid as it was based upon S/R. I just thought that my TP2 was a more likely stopping point for any decline.

By the way, this trade was a loss. No big deal, we move on and wait for the next opportunity.

Good Luck,

d-day
Attached Image (click to enlarge)
Click to Enlarge Name: GU 7-23-2009 How I Chose MY TP2.jpg Size: 198 KB
  • #4,125
  • Jul 23, 2009 10:02am Jul 23, 2009 10:02am
usd/cad would have been stress free.
  • #4,126
  • Jul 23, 2009 10:19am Jul 23, 2009 10:19am
Hi,
Can anyone give me an idea of what the best Sonic CCI period is mine is set to 34, and also the Normalised Volume which is set to 10.

The Sonic CCI looks similar to Woodies CCI which I traded on Stocks and Futures. As it is not the same, is the best way to use it only when it changes from Red to Green.

Allon
  • #4,127
  • Jul 23, 2009 10:26am Jul 23, 2009 10:26am
Quoting allon
Hi,
Can anyone give me an idea of what the best Sonic CCI period is mine is set to 34, and also the Normalised Volume which is set to 10.

The Sonic CCI looks similar to Woodies CCI which I traded on Stocks and Futures. As it is not the same, is the best way to use it only when it changes from Red to Green.

Allon
Why are your posts always in bold?

I think most Sonikers use Sonic CCI set to 63.
  • #4,128
  • Jul 23, 2009 10:34am Jul 23, 2009 10:34am
Quoting ddaytrader
I think that your EP, SL, and TP1 are fine, though the SL seems a bit high....
Thanks "DD" for the clarification and the encouragement.

Kind Regards
  • #4,129
  • Jul 23, 2009 10:36am Jul 23, 2009 10:36am
Quoting ddaytrader
Why are your posts always in bold?

I think most Sonikers use Sonic CCI set to 63.
You know, I never checked my setting on my live platform. I have a sniper cci with a setting of 14. WTF?

I compared it to the sonic cci on my demo and it is the standard setting.

I don't notice too much of a difference. Maybe I am an idiot. lol
  • #4,130
  • Edited 11:24am Jul 23, 2009 10:38am | Edited 11:24am
just got back .. USD/CAD TP ...First stoploss was 1.1011 but when price moves up there, i had to changed it to 1.1038 to avoid getting stopped-out (with overall trend in mind ofcoz). my daily target is just 40pips . so i had extra pips today .. YAY !!

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  • #4,131
  • Jul 23, 2009 11:39am Jul 23, 2009 11:39am
How much on average pips do you guys make weekly?
  • #4,132
  • Edited 12:53pm Jul 23, 2009 12:04pm | Edited 12:53pm
Quoting jahual89
How much on average pips do you guys make weekly?
Hi there,

Before I say anything more, I'd like to remind everyone that two different people can trade the exact same markets using the exact same system and one person might be wildly profitable while the other loses miserably.

One will follow the rules and learn to do the proper wave analysis and pay attention to support and resistance and set proper entry points, stop losses, and profit targets.

The other will ignore wave analysis, or apply wave analysis improperly. He or she might focus on the indicators giving "signals" rather than the true signals from price action itself.

So, how many pips I make or Basber makes or Rasta makes or TAH makes or Sonic makes is really irrelevant to your situation, because whether or not you profit from SonicR depends 99% on you and your efforts and only 1% on SonicR.

I do not say this to be mean spirited. I want everyone who is willing to work hard and study and learn Sonic's system to do well. But I do not want to sugar coat this and make it seem easy and like a "get rich quick" system.

Here is my SonicStory: I found Sonic's thread back in January or February of this year. I studied for a few weeks, read his manual, read every page of this thread, and then I started trading live around mid-February. I continued to lurk and read this thread everyday. By mid-May, I stopped trading all other approaches that I was trying, and focused 100% on SonicR.

Since then, I have managed to reach a trailing 5 week average profit of +208 pips/week. For this current week, I am up a net of +131 pips. I'm sure there are Sonikers who do far better than I, but I will improve as I work and study price action and stick to the SonicR rules.

Good luck to you,

d-day
  • #4,133
  • Jul 23, 2009 12:44pm Jul 23, 2009 12:44pm
Quoting ddaytrader
Hi there,

Before I say anything more, I'd like to remind everyone that two different people can trade the exact same markets using the exact same system and one person might be wildly profitable while the other loses miserably.

One will follow the rules and learn to do the proper wave analysis and pay attention to support and resistance and set proper entry points, stop losses, and profit targets....
thanks a lot ddaytrader. that helps alot
  • #4,134
  • Jul 23, 2009 1:22pm Jul 23, 2009 1:22pm
Quoting Rastaman
And that folks is how you can turn a disaster into a winning trade, if you really have to and the environment is right like people bailing before news. The trick is NEVER to have to do this in the first place.
Rastaman, I see the ledger indicating profitable trade, but nowhere on your charts is the entry, SL and TP shown......which would be very good to see so we don't have to hunt your ledger to find prices.....etc.......
  • #4,135
  • Jul 23, 2009 2:03pm Jul 23, 2009 2:03pm
DD and to All,

Thanks for the honest words. I have been lurking around this thread about a month now. So far everything about the system makes sense to me. Having a simple system makes all the difference in the world. As we speak I am trying to get better in my spare time(when I am not working my JOB). When I think I see a clear wave I would like to post it. Not for trading purposes but so I can visualy see what I am suppose to see. I read the update Sonic book and uses this as a guide as well.

My goal is to see it in real time so I can build up my confidence like Muhammad(sp). Sometimes its abit hard when slaving at a job all day, but will keep trying.

I really enjoy the room alot. All of you are positive and it is important to surround yourself with positive people. That's why everyone is succeeding with this method. Sorry for the rambling. hopeful soon I will be able to pay it forward to someone as you guys are doing it for us. Thank you many blessing.
  • #4,136
  • Jul 23, 2009 4:12pm Jul 23, 2009 4:12pm
Quoting heartstart
Thanks for the honest words ... Thank you many blessing.
... and the same to you. Don't forget, most forex dealers offer free demo accounts. This would be a good way for you both to learn how to recognize and trade Sonic's system, and also try out a few forex brokers platforms to see which might be a good fit for you.

Good Luck,

d-day
  • #4,137
  • Jul 23, 2009 7:09pm Jul 23, 2009 7:09pm
Basber, are you the friend that posted the MACD True indy?
  • #4,138
  • Jul 23, 2009 7:32pm Jul 23, 2009 7:32pm
Quoting ddaytrader
Why are your posts always in bold?

I think most Sonikers use Sonic CCI set to 63.
63

I hope Sonic will confirm this!

First time to read this in the thread or indeed the manual for that matter.

Did I miss something?
Starting to see instead of just looking.
  • #4,139
  • Edited 8:17pm Jul 23, 2009 7:46pm | Edited 8:17pm
Quoting Rastaman
63

I hope Sonic will confirm this!

First time to read this in the thread or indeed the manual for that matter.

Did I miss something?
Don't worry, Rastaman. Sonic uses both 34 and 63 for CCI. I use 63 only. If 34 is working for you, there is no reason to panic or to change it. Remember, SonicR in the end works because of wave analysis and support/resistance. The indicators only help our confidence that our wave analysis and S/R analysis is correct.

Quoting sonicdeejay
Dear TAH,

Nice point u have there..
I pay most attention to wave analysis, S&R....
and I have few pcs at home...some set with CCi 63..and 34...
that y..the analysis chart CCI can vary as I use diff pcs to update,,,

Hope to see more chart set up and hear more winning trade fr u too...
Sonic
  • #4,140
  • Jul 23, 2009 7:47pm Jul 23, 2009 7:47pm
Quoting traderathome
Rastaman, I see the ledger indicating profitable trade, but nowhere on your charts is the entry, SL and TP shown......which would be very good to see so we don't have to hunt your ledger to find prices.....etc.......

Sorry, I think it is just my background color and maybe I am not making the jpeg large enough when I save them, makes everything hard to see.

That said, you can see the orders I placed in the post I made last night i post 1401.

All SHORT the original backfiring 0.4 short is at the bottom the top short is 0.2 after which I figured 0.2 was not enough considering Price movement and so I threw in another full lot. On the original backfiring trade I forgot the SL, that is where the problem started. I did not use an SL in the other trades as it was obvious what was going to happen with all the news around and the PA.

This photo as in last nights post does not show the end result, I was in a hurry to close these three trades in the correct order and did not have time to make a screen shot. If I had tried to, I know, I would have been back in the red for a long time.
Attached Image (click to enlarge)
Click to Enlarge Name: oops.jpg Size: 160 KB
Starting to see instead of just looking.
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