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Sonic R. System

  • #4,201
  • Jul 26, 2009 7:43am Jul 26, 2009 7:43am
Quoting LittleTrader
im done for the day .. daily target not reached but pips is pips ...
Hi LT,
There Was Days In The Past That I Was Looking For a Daily Target. But It Had Just One Thing For Me :
It Forces Me To Trade When There Was No Good Setups, Specially When I Didn't Took Any Position The Previous Day Because Of The Lack Of Good Setup. After That I Realize That It Would've Been Much More Better If I Took What Market Gives, Not To Seek For Certain Amout Of Pips Every Day. I Remember There Was A Week That I Saw Only 1 Or 2 Safe Trades In SonicR System. So If I Wanted To Achieve A Daily Target, There Was A Burden On My Back Because I Didn't Took Any Trade. I Find Out That This Attitude Conflicts Alot With The Much More Profitable Attitude That I Call "Be More Picky" Attitude.
So I Start To Be More Flexible. I There Is No Trading Setup (I Meant Perfect Ones), I Start To Learn And Read The Threats And Book And Contribute With Other Traders Instead Of Forcing Myself To Reach My Daily Target.
I Believe This Attitude Works Much More Better For Scalpers, And It Didn't Fit My Personality. And I Don't Think It Matches With SonicR Strategy Either. I Think There Are Many Days That Sonic Did Not Took Any Trade With This System (Sonic Correct Me If I'm Wrong).
Like DD Said In One Of His Post, There Will Be Between 3-5 Good Setups Each Week. But It's an Average, Sometimes You See 5 Or 6 Good Setups During The Week And Sometimes There Are Just 2 Or 3 Good Setups During The Week.
I Don't Point All The Words To You, But I Used Your Post To Say My Experience On This.

After All It's Just My Opinion. No Right Or Wrong Thing In This Business.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #4,202
  • Jul 26, 2009 2:20pm Jul 26, 2009 2:20pm
Quoting Basber
Hi LT,
There Was Days In The Past That I Was Looking For a Daily Target. But It Had Just One Thing For Me :
It Forces Me To Trade When There Was No Good Setups, Specially When I Didn't Took Any Position The Previous Day Because Of The Lack Of Good Setup. After That I Realize That It Would've Been Much More Better If I Took What Market Gives, Not To Seek For Certain Amout Of Pips Every Day.
I agree. I keep a running total of my last 5 week's average. I then know if I had a belwo average, average, or above average week. I would like to maintain a trailing five week average of 200+ pips profit/week. That way, the goal is spread out over more than a typical month. This allows me to keep from feeling pressured to trade when there is no real set-up. As Basber said, it is better to take what the market gives rather than try to get it to give more than it is willing, especially on a per day basis.

Over a a month, certainly over five weeks, the SonicR will allow you to take 1000 or more pips profit. But that does not mean that the SonicR will give you an automatic 50 pips/day. This past week, for example, I did 157 pips profit. 93 of those came on 1 trade!

Learn the systems, trade it with discipline, and the profits wil take care of themselves. But I would beg anyone coming here to learn the system to get any idea of "I need to make xx pips/day" out of his or her head.

The pips will come.

Learn to trade first, and the pips will come.

Good Luck,

ddaytrader
  • #4,203
  • Jul 26, 2009 2:26pm Jul 26, 2009 2:26pm
Quoting Rastaman
I see, thanks.
Just wondered if it was possible to enter if one missed the entry.
That would be up to you. If I really wanted to chase the trade, I'd drop to a 1 minute chart and wait for a pullback to the 1 minute sonic dragon and keep my stop loss within 15-20 pips from entry. Even better, wait for the pullback to the 1 minute 34ema band and then buy if price made a new high, with the stop loss under the low of that 1 minute pullback.

But that is NOT SonicR and, for more experienced Sonikers such as yourself, that might be fine. But I would want those newer Sonikers to focus on entering on SonicR entry points only at first, then learn SonicRentry, and only ater being comfortable with those two standard Sonic ep's start to experiment.
  • #4,204
  • Jul 26, 2009 2:29pm Jul 26, 2009 2:29pm
Quoting Basber
I'm With DD, I Suggest To Read More On Psychological Matters In Trading Other Than Waves. Because You Can Be Profitable With A Simple Knowledge Of Waves And UNDERSTANDING WELL The Manual. The Thing That Ruins Traders Account, Is Psycholigic.
Right on about the psychology stuff, Basber. Do you have any reading suggestions that you have found useful?
  • #4,205
  • Edited 3:28pm Jul 26, 2009 3:16pm | Edited 3:28pm
Quoting Basber
After All It's Just My Opinion.
ahaha ... no worries .. theres one missing detail about my daily target. My daily target only applies to any open trades .. if theres no entry/trade that day, so theres no daily target ..

After two years of trading, i learn it the hard way.. maybe i should call it Trade Target .. instead of daily target ..
  • #4,206
  • Jul 26, 2009 6:59pm Jul 26, 2009 6:59pm
Quoting ddaytrader
Right on about the psychology stuff, Basber. Do you have any reading suggestions that you have found useful?
I Liked These Ones :
Trading For Living By Dr. Alexander Elder
Trade Your Way To Financial Freedom
Some Parts Of "Forex Patterns & Probabilities By Ed Ponsi (I Don't Like Trading Systems ... )

There Are Many Articles That I Don't Know The Author But Everyone Can Google It And I Think There Are Many Many Useful Information Out There For This Concept. But I Liked Those Three Books, And There Are Many Books That Many Useful Information Have Been Written In Them. I Read Everything I Got My Hand On On This Concept.
After All I Don't Recommend Any Particular Book To Read, I Suggest Every Trader Who Wants To Get Above His/Her Emotions, Read Everything That He/She Reaches.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #4,207
  • Jul 26, 2009 7:06pm Jul 26, 2009 7:06pm
Quoting LittleTrader
ahaha ... no worries .. theres one missing detail about my daily target. My daily target only applies to any open trades .. if theres no entry/trade that day, so theres no daily target ..

After two years of trading, i learn it the hard way.. maybe i should call it Trade Target .. instead of daily target ..
I'm Sure Not Worried About You, I Just Use Your Words To Review Some Of My Experiences. I Think It Will Help Some Newbies. And I'm Sure You're Not The One
Anyway, I Just Have a Question, Don't You Think 40 (Is That It ?!) Pips For A Trade And Not Being Flexible Gonna Cause You Some Trouble In Long Time ? I Ask Because Maybe Your R:R Is Low, But You Are Concentrate On Your Winrate. Why Don't You Close Your Position Partially And Let A Part Of It Run A Little Bit More When You Are In Profit ? Just Wanted To Know Your Opinion, I'm Not Questioning It Or Against It, It's Just It Wouldn't Work For Me This Way.
Looking Forward To Your Answer

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #4,208
  • Jul 26, 2009 7:39pm Jul 26, 2009 7:39pm
Ppl simply can't wait...

I am putting my hand on a cookie jar..instead of buy/sell button...

Have a nice pippin week ahead..Sonikers..

Sonic
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  • #4,209
  • Jul 26, 2009 7:43pm Jul 26, 2009 7:43pm
Quoting Basber
I'm Sure Not Worried About You, I Just Use Your Words To Review Some Of My Experiences. I Think It Will Help Some Newbies. And I'm Sure You're Not The One
Anyway, I Just Have a Question, Don't You Think 40 (Is That It ?!) Pips For A Trade And Not Being Flexible Gonna Cause You Some Trouble In Long Time ? I Ask Because Maybe Your R:R Is Low, But You Are Concentrate On Your Winrate. Why Don't You Close Your Position Partially And Let A Part Of It Run A Little Bit More When You Are In Profit ? Just Wanted To Know Your Opinion, I'm Not Questioning...
Good evening Basber, and all Sonikers.
Is it advisable to move up your stop loss when you take some lots off at TP1 or is it best to let the stop loss remain in its original position?

Regards
Lmarti21
  • #4,210
  • Jul 26, 2009 7:54pm Jul 26, 2009 7:54pm
Quoting lmarti21
Is it advisable to move up your stop loss when you take some lots off at TP1 or is it best to let the stop loss remain in its original position?

Regards
Lmarti21
Of coz..u can..
You should move to a strategic place...
Example just few pips above resistance if u r in SHORT....or just few pips below major support if you are in LONG..or at least mover ur SL to BE...


Sonic
  • #4,211
  • Jul 26, 2009 7:57pm Jul 26, 2009 7:57pm
Quoting Rastaman
, can we enter like this off of the 10 EMA?
Rasta,

It sound like words from Step 2, paragraph 3 of 5Steps PDF file from page 1 post 1 of the thread...

Sonic
  • #4,212
  • Jul 26, 2009 8:00pm Jul 26, 2009 8:00pm
greetings,

Can someone tell me or post the NVO enhanced indicator Sonic is using?Mine does not say enhanced as Sonics does.

TIA

Quoting sonicdeejay
Ppl simply can't wait...

I am putting my hand on a cookie jar..instead of buy/sell button...

Have a nice pippin week ahead..Sonikers..

Sonic
  • #4,213
  • Jul 26, 2009 8:05pm Jul 26, 2009 8:05pm
Quoting lionsden
greetings,

Can someone tell me or post the NVO enhanced indicator Sonic is using?Mine does not say enhanced as Sonics does.

TIA

there u go..
pls follow the steps..
there r plenty...

Sonic
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  • #4,214
  • Jul 26, 2009 8:31pm Jul 26, 2009 8:31pm
appreciate the prompt response Sonic!


Quoting sonicdeejay
there u go..
pls follow the steps..
there r plenty...

Sonic
  • #4,215
  • Jul 26, 2009 9:01pm Jul 26, 2009 9:01pm
Thanks Basber...All information has been entered into this tiny brain, which is starting to get a bit full with all the other useless information it had in there.
Time for a reformat. LoL
Starting to see instead of just looking.
  • #4,216
  • Jul 26, 2009 9:16pm Jul 26, 2009 9:16pm
Quoting sonicdeejay
Rasta,

It sound like words from Step 2, paragraph 3 of 5Steps PDF file from page 1 post 1 of the thread...

Sonic
You will test out automated systems on Metatrader, you'll play with moving
averages, Fibonacci lines, support & resistance, Pivots, Fractals, Divergence, DMI,
ADX, and a hundred other things all in the vein hope that your 'magic system' starts
today. You'll be a top and bottom picker, trying to find the exact point of reversal
with your indicators and you'll find yourself chasing losing trades and even adding to
them because you are so sure you are right.


---------------------------------------------------------------------------------------

Perahps apart from the, "with your indicators and you'll find yourself chasing losing trades and even adding to them because you are so sure you are right".
---------------------------------------------------------------------------------------

I am not sure I am right. In fact, I am not sure if there is any right.
Starting to see instead of just looking.
  • #4,217
  • Jul 26, 2009 9:16pm Jul 26, 2009 9:16pm
Quoting Basber
I'm Sure Not Worried About You, I Just Use Your Words To Review Some Of My Experiences. I Think It Will Help Some Newbies. And I'm Sure You're Not The One
Anyway, I Just Have a Question, Don't You Think 40 (Is That It ?!) Pips For A Trade And Not Being Flexible Gonna Cause You Some Trouble In Long Time ? I Ask Because Maybe Your R:R Is Low, But You Are Concentrate On Your Winrate. Why Don't You Close Your Position Partially And Let A Part Of It Run A Little Bit More When You Are In Profit ? Just Wanted To Know Your Opinion, I'm Not Questioning...
well .. 40pips is more than enough for me to survive... everytime i have a trade that exceed 40pips, i move my SL to 20pips .. once it reach 60, i move it to 40pips . if the trade goes 100pips and have some sudden reversal, i already locked my 40pips ..if it hits my 'take profit' , then good. i have some extra green to cover some other non-trading/non-sonic-signal days.

for some reason i dont like using trailing stop. i dont know why, i just dont use it. about partial close, my broker doesnt allow it. maybe time to change broker someday ehh ..
  • #4,218
  • Edited Jul 27, 2009 2:02am Jul 26, 2009 9:20pm | Edited Jul 27, 2009 2:02am
Quoting Rastaman
Thanks Basber...All information has been entered into this tiny brain, which is starting to get a bit full with all the other useless information it had in there.
Time for a reformat. LoL
Sometimes, all u need is to press a button...

http://crazy-jokes.com/pictures/reset-button.jpg

Sonic (no offence to any race or religion)..
  • #4,219
  • Jul 26, 2009 9:53pm Jul 26, 2009 9:53pm
Quoting sonicdeejay
Sometimes, all u need is to press a button...

http://crazy-jokes.com/pictures/reset-button.jpg

Sonic
Press a button! LoL

Getting back to the 10EMA, when price gets so far from the 34EMA tunnel, I was mainly using it as a sign of possible reversal of price when a candle pierces it to any degree, Kind of hard at the moment to judge exit when price has gotten so far from the tunnel. And, as such was wondering if it could be used as a re entry point, that is all.
Starting to see instead of just looking.
  • #4,220
  • Jul 26, 2009 9:56pm Jul 26, 2009 9:56pm
Quoting Rastaman
wondering if it could be used as a re entry point, that is all.
I think that is cool..it can be some kind of re-entry rules as well..u can try..on that..
So far, I been using CCI color changes..for me..

But what I'd like to stress here about the re-entry is, you gota tight on your Sl..in this kinda trade..

Sonic
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