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Sonic R. System

  • #5,681
  • Aug 28, 2009 12:24pm Aug 28, 2009 12:24pm
Quoting heartstart
Thanks DD. I will go through the thread this weekend and find out what the settings that everyone is using for the dragon so I can be updated on my template so my entries will be more precise. Thanks.

Sonic Dragon is 34 ema of high, 34 ema of close, and 34 ema of low
Attached Images
  • #5,682
  • Aug 28, 2009 12:39pm Aug 28, 2009 12:39pm
Hi Guys,

Thank you for your posts and a big thanks to ddaytrader and SpecialEd. I just purchased Adventures of a Currency Trader. Got to read the first chapter and was hooked. I am off now to get studying but don't worry i will be back

Thanks again Guys

  • #5,683
  • Edited 5:33pm Aug 28, 2009 1:51pm | Edited 5:33pm
Here is a simplified version. EMAperiod is 34 by default. Centerline is 0=Close by default, but can be changed to 4=Median. Choose if to show PriceBox, or not. Choose to turn indicator ON/OFF.

Only four choices to make, aside from color preferences under the Colors tab!

Edit: Changed indy. Nobody uses the PriceBox, but sometimes using SMA over EMA makes sense. So I made PriceBox code inactive (still in the compile, but inactive), and added EMA/SMA choice.
Attached File(s)
File Type: mq4 Sonic Dragon.mq4   5 KB | 640 downloads
  • #5,684
  • Aug 28, 2009 9:03pm Aug 28, 2009 9:03pm
If anyone else wants to read Adventures of a currency trader, here it is.

http://rs101.rapidshare.com/files/11...ncy_trader.pdf
Starting to see instead of just looking.
  • #5,685
  • Aug 29, 2009 12:30am Aug 29, 2009 12:30am
Quoting ddaytrader
I can only answer for myself, and others may have a different opinion, but if that is "one of the most important rules in SonicR strategy," then I admit I do very well by ignoring it completely!
DD, thanks! That is exactly how I see it for myself, i just wanted to make sure.
  • #5,686
  • Edited 10:13am Aug 29, 2009 2:04am | Edited 10:13am
Thanks Rastaman!

Right I have a few questions any help would be great

1: If you look on the picture you will see a red number 1. My question is what does the grey bars mean? Is it a good signal ?

2:If you look on the picture you will see a red line and a number 2. I would have entered there but i think that would have been far to late. Does anyone have any tips on how to be sure that a sonic is about to take place?

3: Reading the manual it talks about trail stop and stop loss. I know what a stop loss is but i am unsure about a trail stop?

4:Time frames, In the manual it says 5m 15m do you guys have any tips on what is the best time frame? If i just watch 15m wouldnt i be lossing out on pips? 5m i could jump in to soon and lose money.

Sorry about this questions i know they might sound stupid but i just want to get this system right.
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  • #5,687
  • Aug 29, 2009 3:24am Aug 29, 2009 3:24am
Interesting book, just about half way through it;

I can certainly identify with certain aspects it mentions.
Starting to see instead of just looking.
  • #5,688
  • Aug 29, 2009 2:06pm Aug 29, 2009 2:06pm
this is my first pic, i love oil u can make a good pip from it,

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  • #5,689
  • Aug 29, 2009 2:16pm Aug 29, 2009 2:16pm
5m chart

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  • #5,690
  • Aug 29, 2009 2:20pm Aug 29, 2009 2:20pm
i trade only oil and gbpjpy coz its fast
  • #5,691
  • Aug 29, 2009 3:58pm Aug 29, 2009 3:58pm
Quoting Juneman
Thanks Rastaman!

Right I have a few questions any help would be great

1: If you look on the picture you will see a red number 1. My question is what does the grey bars mean? Is it a good signal ?

2:If you look on the picture you will see a red line and a number 2. I would have entered there but i think that would have been far to late. Does anyone have any tips on how to be sure that a sonic is about to take place?

3: Reading the manual it talks about trail stop and stop loss. I know what a stop loss is but i am unsure about a trail...

Juneman

I am also relatively new around here and can not answer all your questions, the gray CCI area is something I have also wondered about.

Your entry seems too late, you missed the signal candle break the lower tunnel dragon earlier. Still you could also have used the short wave to enter.

As for a Trailing Stop, this is a stop that moves with price, say you set a 20 pip trailing stop, once your trade moves 20 pips+ spread into profit, the stop continues to move with it till price retraces and hits the stop, protecting your profit so that you can never lose more than the 20 pips stop. If you are 30 pips a head and price quickly retraces 11 pips your stop gets hit but you are still in profit.

As for the time frame, I think it is a personal thing, but price will move just as many pips on an M15 chart as an M5 chart.
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Starting to see instead of just looking.
  • #5,692
  • Aug 29, 2009 5:06pm Aug 29, 2009 5:06pm
Quoting Juneman
1: If you look on the picture you will see a red number 1. My question is what does the grey bars mean? Is it a good signal ?

2:If you look on the picture you will see a red line and a number 2. I would have entered there but i think that would have been far to late. Does anyone have any tips on how to be sure that a sonic is about to take place?

3: Reading the manual it talks about trail stop and stop loss. I know what a stop loss is but i am unsure about a trail stop?

4:Time frames, In the manual it says 5m 15m do you guys have any tips...
1) I have no idea what the grey bar on CCI means. When I use CCI at all it is to confirm trend, or to confirm SonicReEntry.

2) I think Rastaman answered this well ... your entry is too late, and would be a better TP1 from an entry point closer to where Rastaman points out.

3) A trailing stop is simply the process of moving your stop to lock in more and more profit as the trade moves in your favor. Using a trailing stop is personal preference. Some Sonikers will use an automatic trailing stop that trails a fixed number of pips behind price movement; and others will trail above 15 minute highs. Others simply follow classic SonicR of taking one half profit at TP1 and move stop loss to BE. On second half, either BE or TP2. For now, as you are new, I would suggest that you do not worry about the trailing stop. Focus on learning to identify EP using wave analysis, SL and TP's using support and resistance, and use classic Sonic money management technique: Let trade reach TP1 for 1/2 position, and then move SL to BE and wait for either BE or TP2.

4) There are times when I will move down to a 5 minute timeframe, but rarely. It is tempting to move to a shorter timeframe, presumably to generate more trades. More frequent trading is the last thing you need right now. The M15 is the Soniker's bread and butter.

Here is an early post from Sonic himself that all of us should heed with this regard:

Quoting sonicdeejay
I have this idea, mental attitude ... "I'm gonna trade 1 or 2 trades for today ... I only wanna be sure that I got the winning one..."

So, it can prevent me from trading folly ... cast me a discipline.

Sonic
Be disciplined. As Basber would say, "Be More Picky." My own goal each and everyday is to find the one or two best, most crystal clear Sonic set ups and trade them. And, on those days that I lose two in a row (yes, Sonikers do have losing trades), I'm done for that day (I also learned that from Sonic). I read other threads here at FF where traders are trading 5-15 times each day trying to make 5 pips profit while risking twice that or more on each trade! Let them have it! As for me, I average 55 pips/trade profit trading one or two times/day, and that includes averaging in my losers (have I mentioned that Sonikers do have losing trades)! That means that every time I pull the trigger, I have a reasonable expectation that I will add a 55 pip profit to my account. SonicR on M15 is the tool I use. It is the discipline I bring to my trading that allows me to use the tool to my benefit. Be disciplined.

Good Luck!

PS As you read this thread and study the SoncR Manual, do not forget to read the "5 Steps" document that Sonik posted to the thread. The discipline is as important as the technique.
  • #5,693
  • Edited 6:22pm Aug 29, 2009 5:51pm | Edited 6:22pm
Quoting ddaytrader
1)
I read other threads here at FF where traders are trading 5-15 times each day trying to make 5 pips profit while risking twice that or more on each trade! Let them have it! As for me, I average 55 pips/trade profit trading one or two times/day, and that includes averaging in my losers (have I mentioned that Sonikers do have losing trades)! That means that every time I pull the trigger, I have a reasonable expectation that I will add a 55 pip profit to my account. SonicR on M15 is the tool I use. It is the discipline...
Morning DD, probably evening where you are.

Not to mention the SPREAD these guys are paying.


I am almost at the end of the "Adventures of a Trader" and laughing my head off. Especially as, the support and resistance thing is almost exactly the same conclusion that I came to after blowing account after account.
I also called the resistance levels "Ceilings & Floors".

I need to take another dose of my own medicine here. LOL


It is interesting though, that people come to this conclusion about S&R without really having any prior knowledge of what S&R is.

Maybe it is just something you learn after staring at charts 10 hours a day, everyday.

Interesting that you also do not know what the gray area on the CCI is about, maybe Sonic can enlighten us about that.

Right, I am off back to finish this book.
Starting to see instead of just looking.
  • #5,694
  • Aug 29, 2009 5:52pm Aug 29, 2009 5:52pm
Quoting amin wakileh
this is my first pic, i love oil u can make a good pip from it,

Attachment

Quoting amin wakileh
i trade only oil and gbpjpy coz its fast
Hi Amin,

Welcome to SonicR and thank you for sharing! I do not trade oil myself, and I hope you will continue to share your charts with us.

SonicR is based on wave analysis, price action, and support and resistance, and because of this it works on most liquid, freely traded markets. I trade currencies primarily (both spot forex and futures), but I also occassionally trade the ES futures contract (SP500 e-mini). I have attached a chart of a couple of trades I did about a week or so ago on the ES - one Sonic Short and one Sonic Long.

Keep Sharing ... remember, as Sonic says, "Sharing is Caring," and by sharing we all learn together!
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Click to Enlarge Name: ES 8-19-2009 SonicR Short & Long.jpg Size: 104 KB
  • #5,695
  • Aug 29, 2009 6:33pm Aug 29, 2009 6:33pm
Quoting snusnufreak
Guys, I feel like its time to raise a question of the higher TF trend here.

As we all know, one of the most important rules in SonicR strategy is to whatch out for the major trend and try to take trades in its direction or if trading against the trend, trail the trade closely and monitor it constantly.

But what is a major trend for us intraday traders?

Sonic says 4H aand D1 for 15M confirmation, but lets look at the following picture I randomly picked in the thread somewhat 30 pages ago (I think it was submitted by TAH):

There is...
"As we all know, one of the most important rules in SonicR strategy is to whatch out for the major trend and try to take trades in its direction or if trading against the trend, trail the trade closely and monitor it constantly." -

I have trouble with the term "most important", since I would reserve that one for money management. But Sonic has often kept us on course by telling us to look at the H4 for a grand "hint" .....whopping pin bars, outside bars, hammers and the like....of where PA may be off to next. Aside from that, Sonic does his own "hammering" by telling us to trade what we see, not what we think, on M15. And that gets us back to the Dragon, waves and S&R.
  • #5,696
  • Aug 29, 2009 6:41pm Aug 29, 2009 6:41pm
Quoting traderathome
Sonic does his own "hammering" by telling us to trade what we see, not what we think, on M15. And that gets us back to the Dragon, waves and S&R.

Here is a Sonic post that may be of interest:

Quoting sonicdeejay
Most ppl says uses MTF to confirm that trade....and I beg to differ on certain extend...
"Have u ever come across this, 4H TF look bearish but H1 is bullish"

If u know the proper drawing of trendline and resistance, and fib..u can view the "whole" situation in a single TF...u gota zoom in and out of the screen...
As TAH says, that "single TF" is the M15 for SonicR.
  • #5,697
  • Aug 29, 2009 6:52pm Aug 29, 2009 6:52pm
Quoting ddaytrader
I have attached a chart of a couple of trades I did about a week or so ago on the ES - one Sonic Short and one Sonic Long.
This is M15 ESU9 (S&P 500 e-mini futures September-2009 contract) and these trades were from 8/19/2009. I use Ninjatrader to chart futures, and in my first screen shot I see I did not include the market or the timeframe.
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  • #5,698
  • Aug 29, 2009 7:19pm Aug 29, 2009 7:19pm
Quoting ddaytrader
This is M15 ESU9 (S&P 500 e-mini futures September-2009 contract) and these trades were from 8/19/2009. I use Ninjatrader to chart futures, and in my first screen shot I see I did not include the market or the timeframe.

D, I have no idea what ESU9 is.

From your direction in this thread I wonder if this was actually a pin bar on the H4 tf. Was it?
Starting to see instead of just looking.
  • #5,699
  • Aug 29, 2009 7:50pm Aug 29, 2009 7:50pm
Quoting Rastaman
D, I have no idea what ESU9 is.

From your direction in this thread I wonder if this was actually a pin bar on the H4 tf. Was it?

... this is a chart of the S&P 500 e-mini futures contract ... it is a 15 minute chart, i.e. M15. It is right there in the quote you used from my post! Where do you get "pin bar" and H4? Holy smokes, I wouldn't know a pin bar if I sat on one!

ES = symbol, like EURUSD or GBPJPY. U9 = September 2009. Futures contracts are traded for a finite period of time, and then that contract expires, and a new one takes its place.

Amin posted a chart of oil, i.e. crude oil. I was just adding this chart to show that SonicR works on all markets, not just forex markets.
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  • #5,700
  • Aug 29, 2009 8:05pm Aug 29, 2009 8:05pm
I see D. I was wondering if you had seen a pin bar and were trading it, that's all.


Anyone aticipating GBP/USD to bounce off the upper line of the tunnel which is the 38.2 fibo on H1, then break the DP before it continues to slide?
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Starting to see instead of just looking.
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