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Sonic R. System

  • #5,941
  • Sep 3, 2009 11:38pm Sep 3, 2009 11:38pm
Quoting Rastaman
Well, here I am at Narita International aiport.

Managed to get my laptop online at the hotel and am looking for a setup.


Looks like we may be getting one on EUR/USD.
Hope you are having fun on your trip!
  • #5,942
  • Sep 3, 2009 11:43pm Sep 3, 2009 11:43pm
Good morning.

I take this position

LONG EU
EP 1.4267
SL 1.4230
TP1 1.4321

I am concerned only for pivot point in 1.4278

Any comments?
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  • #5,943
  • Sep 3, 2009 11:49pm Sep 3, 2009 11:49pm
Quoting traderathome
Hope you are having fun on your trip!

Thanks T, just drove 110 kilometers and I am off tomorrow morning.

Going to hit the bar soon.

Will keep my eye on that EU trade, may fail.
Starting to see instead of just looking.
  • #5,944
  • Sep 4, 2009 12:14am Sep 4, 2009 12:14am
Quoting Rastaman
Thanks T, just drove 110 kilometers and I am off tomorrow morning.

Going to hit the bar soon.

Will keep my eye on that EU trade, may fail.
Here we go again.......Launch to Liquidate! Now it kinda resembles a H&S (if you can find a neckline in there somewhere!).
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  • #5,945
  • Sep 4, 2009 1:48am Sep 4, 2009 1:48am
Quoting traderathome
Here we go again.......Launch to Liquidate! Now it kinda resembles a H&S (if you can find a neckline in there somewhere!).

Yeah, I see what you mean T.

Looks like EJ was the real deal.
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Starting to see instead of just looking.
  • #5,946
  • Sep 4, 2009 1:50am Sep 4, 2009 1:50am
early shorts was not trigger.

g/u setup? anyone getting on it.
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trade safe
  • #5,947
  • Sep 4, 2009 2:16am Sep 4, 2009 2:16am
Quoting zz_zhang
early shorts was not trigger.

g/u setup? anyone getting on it.
I'm in:

EP @ 1.6353 (right above weekly pivot)
TP @ 1.6390 - few pips below weekly 61,8 fib lvl

But again, the price is messy and its going up having hard times.

Regards,
snu
  • #5,948
  • Sep 4, 2009 2:18am Sep 4, 2009 2:18am
USD/CAD

Been in this one since earlier this morning.

Perhaps at a good point now to take some profit, but downtrend looks good so might try and ride it down to the lower SHI Channel line.

Any thoughts?

Leo.
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  • #5,949
  • Sep 4, 2009 2:24am Sep 4, 2009 2:24am
Quoting Leo.
USD/CAD

Been in this one since earlier this morning.

Perhaps at a good point now to take some profit, but downtrend looks good so might try and ride it down to the lower SHI Channel line.

Any thoughts?

Leo.

i will take some profit as it hit the previous Low. and set the rest to BE and see how it goes.

nice trade u got
trade safe
  • #5,950
  • Sep 4, 2009 2:52am Sep 4, 2009 2:52am
Quoting zz_zhang
i will take some profit as it hit the previous Low. and set the rest to BE and see how it goes.

nice trade u got
Thanks again ZZ for the comments. Much appreciated.


A quick question to all if that's alright.

When looking and watching different setups play out it often seems that a good location to close out a trade is when it nearly reaches the SHI Channel, nearly always this seems to work very well. It also makes the R:R look a lot more meaningful too.

I was wondering, how many Sonic traders mainly prefer to use the SHI Channel trend lines as TP areas over other areas like pivots and S/R?

Maybe this is the exit strategy some of you folk use to catch those mega 100+ pip trades. Forgive me for sounding like a dummy but i feel like i've been missing something here in the Risk:Reward section.

Thanks,
Leo
  • #5,951
  • Sep 4, 2009 3:09am Sep 4, 2009 3:09am
Quoting Leo.
Thanks again ZZ for the comments. Much appreciated.


A quick question to all if that's alright.

When looking and watching different setups play out it often seems that a good location to close out a trade is when it nearly reaches the SHI Channel, nearly always this seems to work very well. It also makes the R:R look a lot more meaningful too.

I was wondering, how many Sonic traders mainly prefer to use the SHI Channel trend lines as TP areas over other areas like pivots and S/R?

Maybe this is the exit strategy some of you folk use to...
it depends on how the PA looks to me. I often choose S/R but the best would be both SHI channel and S/R giving u the same indication.

if u are still holding on to u/c trade. up coming news so do lookout for it!!

http://cdn.forexfactory.com/images/m...dar_upnext.gif 7:00pm CAD
Employment Change
http://cdn.forexfactory.com/images/m...etail_star.gif
-12.4K-44.5K
http://cdn.forexfactory.com/images/misc/viewchart.gif http://cdn.forexfactory.com/images/m...dar_upnext.gif 7:00pm CAD
Unemployment Rate



cheers
trade safe
  • #5,952
  • Sep 4, 2009 4:07am Sep 4, 2009 4:07am
Nice addition in weekly target in just 1 min .......thnx for CAD news just 10 pips risk got 40 + .......HAPPY trading
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FxHome
  • #5,953
  • Sep 4, 2009 4:18am Sep 4, 2009 4:18am
Quoting zz_zhang
it depends on how the PA looks to me. I often choose S/R but the best would be both SHI channel and S/R giving u the same indication.

if u are still holding on to u/c trade. up coming news so do lookout for it!!

http://cdn.forexfactory.com/images/m...dar_upnext.gif 7:00pm CAD
Employment Change
http://cdn.forexfactory.com/images/m...etail_star.gif
-12.4K-44.5K
http://cdn.forexfactory.com/images/misc/viewchart.gif...

Thanks. I see what your saying. Confluence works wonders.

I was just pondering though how some traders were taking what seemed to me like outrageous moves from this strategy, many of such trades broke through multiple S/R levels as well as pivot levels too. From my reading through the rest of the thread, it looks like a lot of people adopted the 'lock-on target' approach. They just entered the trade and if there did not appear to be any major levels or hurdles in the way then they would just sit and wait till the trade just reached the SHI Channel, then exited. I'm not really looking for the, "well you need to use discretion" kind of answer, but just wanted to hear peoples thoughts on how viable this SHI trend line exit method is if it were used most of the time.

Closed the other half of U/CAD after the news burst for an extra 40 pips.

Leo
  • #5,954
  • Sep 4, 2009 4:29am Sep 4, 2009 4:29am
A possible setup in EUR/GBP with the trend.

Leo
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  • #5,955
  • Sep 4, 2009 5:09am Sep 4, 2009 5:09am
Good Morning Sonikers,

This is US NFP (non-farm payrolls) Friday - news pending at 08:30 AM EDT - about 20 minutes from this post.

Good Luck,

ddaytrader
  • #5,956
  • Sep 4, 2009 5:20am Sep 4, 2009 5:20am
gd mornig DD h r u doing ?
FxHome
  • #5,957
  • Sep 4, 2009 5:29am Sep 4, 2009 5:29am
Quoting Muhammad989
gd mornig DD h r u doing ?
Doing well, Muhammad. I'm enjoying the last few days of Summer (in my mind, Summer ends when school begins). I haven't traded this week. I may trade this morning depending upon the reaction to US NFP. Sometimes we get nice trending moves that last all day for many many pips. Other times we get a big whipsaw and then price just consolidates.

We will see. I'm watching price, watching the dragon, and waiting to see if price gives us a chance to ride the dragon today.

You had another good week I see from your posts. Well done, Muhammad. It shows how easy trading can be if you work hard, study hard, and stick to your rules. Of course, that is a lot of hard work to make it easy.

Good luck today!
  • #5,958
  • Sep 4, 2009 5:42am Sep 4, 2009 5:42am
here another good trade for me move stoploss near 35 + closed manually ..........great end of week ......HAPPY trading of all soonikers
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FxHome
  • #5,959
  • Sep 4, 2009 5:47am Sep 4, 2009 5:47am
its all about 34 golden Magic ema......look price reject Hight today and retest low of today i set my TP at pivot lvl ......
FxHome
  • #5,960
  • Sep 4, 2009 6:06am Sep 4, 2009 6:06am
My successful trade after NFP
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cut losses short, let profits run.
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