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Sonic R. System

  • #6,101
  • Sep 9, 2009 11:09am Sep 9, 2009 11:09am
Quoting ddaytrader
When I use re-entry rule I like to use a limit order placed within the Dragon. That means sometimes I miss my chance. Your entry point does look late to me as it is far below the dragon. It might still make a profit, but the risk (EP-SL=Risk) is larger than I would like on a re-entry. I am not criticising, just discussing. You have put together an impressive performance over the last few weeks.

Good luck, Muhammad.
This post of mine is not about the quoted text above, it is about something that Ddaytrader said some time ago.

The more I read posts in this thread, the more I like it. I would like to strongly agree with Ddaytrader, that members of this thread are intelligent and organized people: they know how to properly listen to other people's opinions and learn from them. Most of the members here really get the perspective where is the other person coming from and what are his flaws while learning SonicR.

I think this is the first thread in which people REALLY make money and help each other, and not fool around with plain numbers. This thread does not have A LOT OF people, but it's not the quantity - it's quality.

Keep it up!
cut losses short, let profits run.
  • #6,102
  • Sep 9, 2009 11:46am Sep 9, 2009 11:46am
Quoting ddaytrader
TP1 just got hit for +45 pips
Stopped out on second lot at 1.6555 for +30 pips

Trade Totals for this week (8/08-8/09):

2 Trades:

Trade 1: +60 pips on Lot 1
Trade 1: +26 pips on Lot 2
Trade 2: +45 pips on Lot 1
Trade 2: +30 pips on Lot 2

Total: +161 pips, 80.5 pips/trade, which is 40.25 pips/lot

Trade1: Risk = -43 pips Reward = 43 pips
Trade2: Risk = -45 pips Reward = 37.5 pips

Both trades were GU, both trades were below my average profit which had been +55 pips/trade. The next two might be above average, or they might be losers. All I can do is trade the waves.
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  • #6,103
  • Sep 9, 2009 12:00pm Sep 9, 2009 12:00pm
DD tell me one thing u open order same time and set 2 tps 1st hit and 2nd set BE


Quoting ddaytrader
Stopped out on second lot at 1.6555 for +30 pips

Trade Totals for this week (8/08-8/09):

2 Trades:

Trade 1: +60 pips on Lot 1
Trade 1: +26 pips on Lot 2
Trade 2: +45 pips on Lot 1
Trade 2: +30 pips on Lot 2

Total:...
FxHome
  • #6,104
  • Sep 9, 2009 12:09pm Sep 9, 2009 12:09pm
Quoting Muhammad989
here is the u/j trade setup
Were you actually in this trade Muhammad? Just wondered how you did/would of managed it. Did you get the chance to move s/l to break even or did the s/l take you out for a loss?

Thanks,
Leo
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  • #6,105
  • Sep 9, 2009 12:10pm Sep 9, 2009 12:10pm
Quoting Muhammad989
DD tell me one thing u open order same time and set 2 tps 1st hit and 2nd set BE
Here is how I do it: I open one order for 2 lots, so, for example, I have an order to buy 2 lots GU at 1.6525, with stop loss to sell 2 lots at 1.6480 and a sell limit to sell 2 lots at 1.6617. Once the trade triggers, I set my TP1 manually, to sell 1 lot at 1.6570. Once that is hit, and I take profit on 1 lot, my brokers software automatically reduces my stop loss and TP2 order to 1 lot. In this trade I moved my stop loss to BE sooner (read my posts) and then I moved it to 1.6555 because I wanted to trail it more closely.

Does that answer what you were looking for?
  • #6,106
  • Sep 9, 2009 12:29pm Sep 9, 2009 12:29pm
THNX DD i m out now u/c -12 pips ,
TOTAL 25 + TODAY


Quoting ddaytrader
Here is how I do it:...
FxHome
  • #6,107
  • Sep 9, 2009 12:30pm Sep 9, 2009 12:30pm
LEO I ACTUALLY re-enter but i m not a perfect mistake makes men perfect...now i m out -12


Quoting Leo.
Were you actually in this trade Muhammad? Just wondered how you did/would of managed it. Did you get the chance to move s/l to break even or did the s/l take you out for a loss?

Thanks,
Leo
FxHome
  • #6,108
  • Sep 9, 2009 12:31pm Sep 9, 2009 12:31pm
Quoting Muhammad989
i think i enter bit a late ....for re-entry rule
Been following this one too. The setup looks valid but like you were saying earlier the entry point is a bit later than what you may normally prefer.

Thought i'd share my charts with you on this one as i think they might show why price is jolting around a bit at the moment. You will notice 2 strong S/R levels, one above the entry around the top of the wave retrace and another right at the entry zone.

Leo
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  • #6,109
  • Sep 9, 2009 12:54pm Sep 9, 2009 12:54pm
Quoting ddaytrader
Here is how I do it:...
DD, so basically you can set TPs with specified lot size (e.g. if your trade is for 2 lots you set TP1 for 1 lot)? I thought metatrader doesn't allow to do so. Could you may be post a pic?
  • #6,110
  • Sep 9, 2009 1:15pm Sep 9, 2009 1:15pm
Quoting snusnufreak
DD, so basically you can set TPs with specified lot size (e.g. if your trade is for 2 lots you set TP1 for 1 lot)? I thought metatrader doesn't allow to do so. Could you may be post a pic?
I use Metatrader for charting, but my broker is not MT4. Most US based brokers (except for FXCM who has really screwed up lately) lets you manually set a TP as well as a contingent Stop Loss and Take Profit order. The TP1 is set manually, after the trade is triggered. In other words, TP1 is a separate order.
  • #6,111
  • Sep 9, 2009 1:34pm Sep 9, 2009 1:34pm
Quoting ddaytrader
I use Metatrader for charting, but my broker is not MT4. Most US based brokers (except for FXCM who has really screwed up lately) lets you manually set a TP as well as a contingent Stop Loss and Take Profit order. The TP1 is set manually, after the trade is triggered. In other words, TP1 is a separate order.
Ok, i see now. Thx!

BTW, potential set-up forming on UJ, any thoughts? Hammer on 4H TF made me cautious.
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  • #6,112
  • Sep 9, 2009 1:37pm Sep 9, 2009 1:37pm
Thanks everyone for your insight on trading,sharing & caring. In my 2 years with struggling with indy's, loosing real moola, paying for trading services etc. I have NEVER met any group who is willing to help anyone as much as everyone here has. I have pride myself on helping people in need and for the first time "I need". Part of me feel as though I got this huge conversation going about what trade looks good and what doesn't("less than desire trades comment") so for that I apologize for messing up the vibe of the room. I guess I am looking for the "classic wave" to appear and when I see traders take trades that are not classic I begin to doubt myself of "Seeing what I think I see". That is what I meant by that comment. I take full responsbility for this(its not Leo). Its really my confidence,money/trade management I must work on. I respect EVERYONE in this room and hate for such a gem of a room to disappear because of my actions. I sometimes get frustrated with understanding the method not because I am an idiot but time has to be on everyone side. My job takes 90% of my time and the other 10% is spent trying to look at the market and trying to catch the sonic move. It doesn't help that of course job will disappear in 1 month so the stress of learning the method is that much important. I have always been told NEVER trade when you have that type of pressure on your back but I have no choice. I know I haven't been much help to the room as stated in previous post but rest assure that "I am not leaving" When I can I will post what I think is a sonic and ask for help.

I do have one question "where can I get the drawing tools on my platform to draw lines like DD has. Interbank only has basic tools"?

Sorry again everyone Let's all have a big hug
  • #6,113
  • Sep 9, 2009 3:13pm Sep 9, 2009 3:13pm
It seems like all major pairs are forming a Sonic-R set-up. But I'm hesitating since on all of them it would be going against the major trend and bying/selling into the 89 EMA. Any comments?

BTW, Daily GU chart looks like it formes a H&S pattern. So should we expect GBP to start going down long time?
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  • #6,114
  • Sep 9, 2009 3:19pm Sep 9, 2009 3:19pm
Quoting newnew
Hi all

I am new here
Please can you explain me how this Sonic SHI Channel works? I think how it calculate his position.

Thank you very much
I believe it works in the following manner. For the calculation period (# bars to be included) it searches each side of the trend (max prices H and L) to find which side has two or more nearest prices. If both sides do, then it picks the side with the prices nearest each other. It calculates slope of line that joins these prices. Then it applies a line of that same slope to the max price point at the opposite side of the trend, creating the opposite TL. It pretty much does it the way we would uisng our eyes, but it only does it for the specified calculation period, whereas with our eyes we would instantly know when to "expand" that period to include another nearby max/min price.
  • #6,115
  • Sep 9, 2009 3:35pm Sep 9, 2009 3:35pm
GU M15: This pair had a lot of us involved thru the session...long, short....! What REALLY is going to happen here? And "Talking Heads" of the news broadcasters are split between believing in on-going Dollar weakness and rejuvenation of strength. As Sonic says, just trade what you see. What I see now (white lines) and what I saw earlier (blue lines) has not changed. The price appears to be due for a collapse. And the latest pump back up, accompanyied with highest volumes at the highest prices, only adds to that appearance. The blue lines were marking bearish divergence early in the session. The white lines confirm bearish divergence at the completion of the session....manipulated price pump or not!

Since we are advised to only trade what we see, not what we believe, divergence is of secondary importance. But at this point, I personally would have more confidence if the next setup were short, not long.
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  • #6,116
  • Sep 9, 2009 3:38pm Sep 9, 2009 3:38pm
Quoting heartstart
Thanks everyone for your insight on trading,sharing & caring. In my 2 years with struggling with indy's, loosing real moola, paying for trading services etc. I have NEVER met any group who is willing to help anyone as much as everyone here has. I have pride myself on helping people in need and for the first time "I need". Part of me feel as though I got this huge conversation going about what trade looks good and what doesn't("less than desire trades comment") so for that I apologize for messing up the vibe of the room. I guess I am looking...
I can only agree very much with what you are saying here heartstart. Your right, this is a unique thread and neither would i like to be responsible for jeopardizing its reputation or giving it a bad image. Although i must say that i didn't sign up to Forex Factory and start posting here just so that i could warm up to people and start toe tickling them, maybe its a good thing to just rock the boat a little now and then, keeps people alert perhaps.

I don't think you or anyone should feel bad about asking such questions. After all the more difficult and challenging a question is then the more worth answering it probably is too. So hopefully the dispute (if you can call it that) brought out some insightful points. I think everybody is in agreement that Basbers and DD's reply posts were excellent and very encouraging (#6044, #6081).

I also apologize if i have ruffled anyone's feathers lately by tackling the topic the way i have done. I really do like Sonic R and am thankful for what is going on here. I just want to make sure im getting it right. So please, keep the bricks flowing thick and heavy, but make sure you stick to using bricks, i don't think i could handle anything more heavy than that!

Thanks,
Leo
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  • #6,117
  • Edited 4:55pm Sep 9, 2009 3:46pm | Edited 4:55pm
Quoting Basber
Hi Leo,
I Personally Don't Post All My Trades, Both Losing And Winning. Like Once DD Said, It's Not About Telling We Are Right, It's About Learning Something That We Think That It Works. If You Want To Find Out That It Works, You Should Try It For Few Months.
I Myself Get Confused About What You Said In Your Previous Post, About Something Will Be Wrong If a Trade Losses And That Thing Will Be Ignored And Not Talked About When It Was a Winning Trade. I Had This Confusion In Another Thread, And That's Why I'm Here Now. When I Started To Read This...
I second dd on that....excellent post, Basber. This SonicR method is really quite simple. It is all the "baggage" inside of us, that we bring to it, that mucks it up!
  • #6,118
  • Edited 7:20pm Sep 9, 2009 7:00pm | Edited 7:20pm
It's building up guys. UJ

P.S. Not all currencies seem to be in the same position as UJ
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cut losses short, let profits run.
  • #6,119
  • Edited 7:30pm Sep 9, 2009 7:05pm | Edited 7:30pm
This session might be interesting. By the look of H4 charts, the GU is at a PPZ based upon upper TL. EU is not at such a point. But if GU changes direction and goes down, so likely is the EU to do the same. On the other hand, since EU is not at a PPZ based upon H4 channel TLs, it could continue upwards. If this happens then GU should break thru the H4 upper TL. But that begs the question, "Is there enough momentum/strength in these two, against the dollar, to keep going higher?"

Let's see how the session goes!

Edit: And it is becoming less likely the euro will go up much with the pound going down, as the H4 chart of EG shows that the euro uptrend against the pound may be faltering (chart 3).
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  • #6,120
  • Sep 9, 2009 7:59pm Sep 9, 2009 7:59pm
U/J- not triggered
buy stop 92.26
stop loss-91.90
TP1-92.44
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