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Sonic R. System

  • #4,741
  • Aug 9, 2009 5:06pm Aug 9, 2009 5:06pm
Hi Sonikers,

I need some help. I do not want to clutter the thread unnecessarily with non-Sonic posts, so if you'd like to PM me that would be fine. Here is my dilemma:

I have used FXCM forever. I have been very happy with FXCM up until this point. As of last week, FXCM has removed my ability to enter an entry order with SL and TP attached to that order. Because of this, I am now, regretably, looking for another broker.

If you are using a broker with whom you are happy, please sending me a PM, tell me which broker, what you like, what you don't like, is it dealing desk or non-dealing desk, what is the typical spread on EU, GU, EJ, and GJ, and anything else you might find relevant.

I'm sorry to bother you folks with this, but without contingent SL and TP orders, the only way I will be able to trade London session is if I stay awake 24 hours/day.


Thank you,

ddaytrader
  • #4,742
  • Aug 9, 2009 5:23pm Aug 9, 2009 5:23pm
You can stay with FXCM, but move your account to their UK office. This is what I did with my account (another broker).
Would like to know how other traders solved this issue.



Quoting ddaytrader
Hi Sonikers,

I need some help....
  • #4,743
  • Aug 9, 2009 7:11pm Aug 9, 2009 7:11pm
Quoting Credos
Hi Lmarti21,
To exclude accidental error as you had check in your MT4 platform

Tools > Options > Trade > Size by default > Default (your preferred lot size).

Once set up you don't have to worry about your lot size.
Thanks Credos for that info.

Lmarti21
  • #4,744
  • Aug 9, 2009 7:20pm Aug 9, 2009 7:20pm
Quoting ddaytrader
Hi Rastaman,

At the far left hand edge we have a BIG HIGH.

Price then corrects down ins a series of small swings ... L-LH-LL-LH, and then, if you look again, you will see that the entry point was above the last LH, therefore, by definition, a HH....
HI "DD"

Correct me if i am wrong but what i understand from what you said above is that prices just have to make a higher high not necessarily a major HH , meaning ( 2 bars to the left and 2 to the right that are lower than the middle bar.

Kind Regards
Lmarti21
  • #4,745
  • Edited 8:24pm Aug 9, 2009 7:48pm | Edited 8:24pm
Quoting lmarti21
HI "DD"

Correct me if i am wrong but what i understand from what you said above is that prices just have to make a higher high not necessarily a major HH , meaning ( 2 bars to the left and 2 to the right that are lower than the middle bar.

Kind Regards
Lmarti21
Well, I guess the best way to look at it is that you need to see the waves in context of one another. You do not want to mistake a minor fluctuation for an entry point. In that example, the context is that there was an impulsive rally, where price went nearly straight up with little overlap. Price then declined in several overlapping waves in a rather choppy manner. Each low folowed by a lower low, and each high by a lower high. In that particular case, and in that particular context, the first hiher high after a lower low would be a buy signal so long as price was above the dragon and Sonic CCI +0.
  • #4,746
  • Aug 9, 2009 7:53pm Aug 9, 2009 7:53pm
Quoting ddaytrader
Hi Sonikers,

I need some help....
"DD" how do i PM you.

Kind Regards
Lmarti21
  • #4,747
  • Aug 9, 2009 7:58pm Aug 9, 2009 7:58pm
Quoting lmarti21
"DD" how do i PM you.

Kind Regards
Lmarti21
Click on my username and that will take you to my profile page. On that page you will see where it says "contact ddaytrader" and it gives you a choice of PM or email. Use the pm. If you do not see the choices, then you probably have not allowed PM on you profile. You would then have to click on your user name, and click on "edit options" and then click on "allow private messaging."
  • #4,748
  • Aug 9, 2009 8:04pm Aug 9, 2009 8:04pm
Quoting ddaytrader
Well, I guess the best way to look at it is that you need to see the waves in context of one another....
Thanks "DD" for the clarification i now have a better understanding.

Kind Regards
lmarti21
  • #4,749
  • Aug 9, 2009 9:14pm Aug 9, 2009 9:14pm
Quoting ddaytrader
For the record, and before you post prompts everyone to go out and drop $50+ USD on this book, I have never even laid eyes on...

I hear what you are saying there DD.
I am not suggesting anyone else read the book, it is just something I think I needed to do personally, and I am glad I read it over the weekend as it has thrown light on areas that to be honest, I had not even considered.
Starting to see instead of just looking.
  • #4,750
  • Aug 9, 2009 9:23pm Aug 9, 2009 9:23pm
Quoting Rastaman
I hear what you are saying there DD.
I am not suggesting anyone else read the book, it is just something I think I needed to do personally, and I am glad I read it over the weekend as it has thrown light on areas that to be honest, I had not even considered.
No problem, Rastaman ... I know a lot of folks are learning to trade with limited capital, and I wanted them to know that reading the Horner's book was not a prerequisite to learn the SonicR system. My own experience has been that most trading books are a complete waste, but, as I said above, I am sure Rhagee Horner's book has value (after all, she gave Sonic the idea for SonicR!).
  • #4,751
  • Aug 9, 2009 10:48pm Aug 9, 2009 10:48pm
This book is the corner stone of Sonic's system so I figured a hundred or so pages to read, is a small price to pay to understand the answers to the questions, I have yet to think of.

Now, I understand more about entry and reentry as we seem to be alternating between Momentum trading and Swing trading, this confused me when PA is a long way from the tunnel in a strong trend.
Starting to see instead of just looking.
  • #4,752
  • Aug 9, 2009 11:15pm Aug 9, 2009 11:15pm
UJ M15: A break below previous low provides entry short. Or wait for the whole number 97.00, more conservative. The 50% retrace on Friday's move is 96.41, a target. All IF this breaks down.....
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot # 078.gif Size: 40 KB
  • #4,753
  • Aug 9, 2009 11:31pm Aug 9, 2009 11:31pm
Quoting traderathome
UJ M15: A break below previous low provides entry short. Or wait for the whole number 97.00, more conservative. The 50% retrace on Friday's move is 96.41, a target. All IF this breaks down.....

Yeah, I am looking at the 96.76 mark as a possible short area.
The 50% fibo on the D1 looks promising and also in the 96. 80 vicinity.
Attached Image (click to enlarge)
Click to Enlarge Name: d1.gif Size: 36 KB
Starting to see instead of just looking.
  • #4,754
  • Aug 9, 2009 11:36pm Aug 9, 2009 11:36pm
nice system....
  • #4,755
  • Aug 9, 2009 11:59pm Aug 9, 2009 11:59pm
Hi Guys,
Most systems on this site are for dreamers promising the earth.
You guys talk like traders and also metion losses
I am currently trading this system in a demo account and I am very very impressed time will tell if it continues.
AGREAT BIG THANK YOU TO SONIC!!!!!!!
  • #4,756
  • Aug 10, 2009 3:36am Aug 10, 2009 3:36am
Quoting ddaytrader
Hi Rastaman,

At the far left hand edge we have a BIG HIGH.

Price then corrects down ins a series of small swings ... L-LH-LL-LH, and then, if you look again, you will see that the entry point was above the last LH, therefore, by definition, a HH. This signalled the end of the correction was likely and a new rally leg had begun, at least to retest that BIG HIGH.

I tried to edit this chart in paint, but my pain tskils are terrible. But you should be able to look at what I did, and figure it out from your own copy of the chart.

This is a bt...
Hi, DD

I would like to ask you a question regarding this example of Sonic R entry as well. It seems to me Sonic entries are beeing done way to early so there is a great deal of uncertainity when you enter a trade.

Looking at the picture we had a series of LLs and LHs then price broke the last LH of a downward movement and went straight up without making any Higher Lows. At the very beginning of the thread I remember Sonic posting that for an up move allwas look for L-H-HL. Where is the HL in this example? How can i be sure that after breaking that last LH price won't just reverse and head even lower?

This trade looks to me like a perfect example of what Sonikers should not do - trade the indicators and hope that price will move in their direction without being patient and waiting till the direction of the price is confirmed by price itself.

I would rather enter late (on a pullback) and with smaller SL than enter the unconfirmed setup with large SL.
  • #4,757
  • Edited 7:13am Aug 10, 2009 3:53am | Edited 7:13am
Quoting Stumpy1
AGREAT BIG THANK YOU TO SONIC!!!!!!!
You are Welcome!!!
I'd be looking forward for you contribution here...

Sonic
  • #4,758
  • Aug 10, 2009 6:36am Aug 10, 2009 6:36am
Not much action going on even after London opened.
Starting to see instead of just looking.
  • #4,759
  • Aug 10, 2009 7:13am Aug 10, 2009 7:13am
Quoting snusnufreak
It seems to me Sonic entries are beeing done way to early so there is a great deal of uncertainity when you enter a trade.

Looking at the picture we had a series of LLs and LHs then price broke the last LH of a downward movement and went straight up without making any Higher Lows. At the very beginning of the thread I remember Sonic posting that for an up move allwas look for L-H-HL. Where is the HL in this example? How can i be sure that after breaking that last LH price won't just reverse and head even lower?

This trade looks to me like a...
Quoting ddaytrader
This is a more ... advanced SonicR, and it is not as easy to spot as the classic SonicR.
I think you are doing very well to trade only the most clear, distinct, classic SonicR set-ups, especialy as you are learning the system. To tell you the truth, I myself would probably not have taken that long in that example. However, it does conform to Sonic's rules, and price did indeed confirm itself as going higher.

Think about it this way: When price takes out a previous high in a downtrend, what has it done? Well, it has changed the trend from down to either up or to sideways. Now, how do we know if the new trend is up or the new trend is sideways? We do not, and we have to wait for price to tell us. A trader can do one of two things: The trader can take a long position, betting that the trends is now up based upon the context (big impulsive rally followed by choppy decline usually indicates that the rally will resume, at least to test the most recent rally high), or the trader can do what you said you would prefer - wait for a pullback, and then enter on a new recovery high.

Neither is right or wrong: As I have said before, each of us has to learn to trade within his or her comfort level.

You made a very good observation, SF! Thank you for sharing with us. I find answering questions from others helps me to clarify my own thinking.

Good Luck,

ddaytrader
  • #4,760
  • Aug 10, 2009 7:24am Aug 10, 2009 7:24am
Quoting Stumpy1
Most systems on this site are for dreamers promising the earth. You guys talk like traders and also mention losses
Hi Stumpy,

Good to have you join us!

Yes, we have losses. The key is following the rules. This will do two things for you:

1) It will help you to win at least 1/2 or more of your trades, and

2) the money management (stop loss and take profits) will help you win more $$ than you lose.

But it is up to you to learn the rules and to learn to recognize the set-ups in real time (and, as Basber says - Be Picky! Starting out you should try to trade the most clear set-ups). We are all here to help each other, so if you have a question, just ask. By the way, when you have a question about a particular chart, please post a picture of the chart to make it easier for someoneto answer you.

Good Luck,


ddaytrader
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