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Sonic R. System

  • #6,141
  • Sep 10, 2009 5:29am Sep 10, 2009 5:29am
Quoting Basber
Snu, Don't Let Other's Analyze Distract You From Yours. Trust Yourself. At Least Do What You Wanted To Do In Demo. Because If You Don't Take The Trade, You'll Not Learn The Lesson. An Take Notes From Every Single Trade (Winner Or Loser) That You Take.

Regards,
Basber
I'm just not to confident yet with my trading, that is why things like this happen. I think this is the hardest part in trading - train one's confidence to the point where you strictly follow the rools and leave the rest for the market to decide, as Sonic says.
  • #6,142
  • Sep 10, 2009 5:41am Sep 10, 2009 5:41am
Quoting snusnufreak
I'm just not to confident yet with my trading, that is why things like this happen. I think this is the hardest part in trading - train one's confidence to the point where you strictly follow the rools and leave the rest for the market to decide, as Sonic says.
Just For The Record, Many Experienced Traders Tells Me Long Time Ago To Trade Indivitually. It Does Not Mean Not To Think With The Other Traders, It Means When You Want To Press The Sell Or Buy Order, Just As You Said, You Sould Be Enough Confident With Your Trade That No Other Opinion Influence Yours. I Know What You're Saying About, But Don't Leave It This Way, Because You'll Get Used To It. You'll Get Used To Get Influenced By Other's Opinion. I'm Not Criticizing What You've Done. The Thing I Want To Say That Is :
You Will Achieve The Mentioned Confidence With Trading What You See. Maybe It Will Go Wrong. Maybe You Loose More Than You Gain. And That's Where You Can See What Is That You Doing Wrong. And That Will Improve Your Trading. Even If You Didn't Took The Trade, Note Your Experience. I Have a 200 NoteBook (Papers Are Larger Than A4 Paper Size) And Half Of It Is Full With My Experiences, Book Summaries, Strategies, Psychological Stuff And etc.
By The Way, After Some Time, Check On Your Past Posts And See Your Growth (And I'm Seeing It Clearly) And It Will Help Your Confidence.
Just My 2 Cents

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #6,143
  • Sep 10, 2009 5:51am Sep 10, 2009 5:51am
Exellent post, once again thank you Basber!
  • #6,144
  • Sep 10, 2009 6:14am Sep 10, 2009 6:14am
Hello Sonicers,

Noneone take this trade?

short EJ 133.97
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 17 KB
  • #6,145
  • Sep 10, 2009 6:23am Sep 10, 2009 6:23am
Quoting Kabuto
Hello Sonicers,

Noneone take this trade?

short EJ 133.97
I Don't Like The Candle Fromations. There Is a High Movment In Every Single Candle With No Clear Bias. But The Uptrend Broke, It May Help Your Short Position. But Like I Said, I Don't Like The Candles In The Red Box.

Regards,
Basber
Attached Image (click to enlarge)
Click to Enlarge Name: ej avoiding.gif Size: 45 KB
Trading methods are designed to put the odds in our favor, not predicting.
  • #6,146
  • Sep 10, 2009 6:28am Sep 10, 2009 6:28am
Quoting traderathome
My chart shows PivotsMW using Day formula, and SDX-TzPivots(v6 pre-release) using Day formula shifted to midnight-to-midnight GMT time zone. You are using fibonacci formula and PivotsD, which is not time zone shifted. I can not say that one formula is better to use than the other, because on any day the PA can respect either, both, or neither! Perhaps other traders have a preference, and if they care to let it be known what they prefer, and why, it may be helpful to us all.
I have found that the best way to use those artificial pivots (by artificial I mean they are based on formulas using PA inputs, but not PA itself) is this:

1) I use them only for TP's. I do not generally use them to decide to take a trade or not. That decision is based primarily on wave analysis.

2) As I use them for TP's, the best use I have made of them is that I look for those floor pivot levels that correspond to actual swing privot levels, prior areas of congestion, etc. In other words, I will select TP's near the floor pivots that are located with a prior S/R level.

When TAH says that some days PA respects either, neither, or both, I would bet that a close examination would show that PA respects those levels that match to prior actual chart points, while tending to act as those in no man'sland aren't even there.

Try it out, and see if your experience matches mine.
  • #6,147
  • Sep 10, 2009 6:31am Sep 10, 2009 6:31am
Quoting Basber
I Don't Like The Candle Fromations. There Is a High Movment In Every Single Candle With No Clear Bias. But The Uptrend Broke, It May Help Your Short Position. But Like I Said, I Don't Like The Candles In The Red Box.

Regards,
Basber
Good Morning, Sonikers!

Also be aware that US emplyment data is due out in one hour (08:30 AM EDT).

Good Luck
  • #6,148
  • Sep 10, 2009 6:33am Sep 10, 2009 6:33am
  •  nerd
  • | Joined Jul 2008 | Status: Fate loves the fearless. | 48 Posts
Quoting Basber
I Don't Like The Candle Fromations. There Is a High Movment In Every Single Candle With No Clear Bias. But The Uptrend Broke, It May Help Your Short Position. But Like I Said, I Don't Like The Candles In The Red Box.

Regards,
Basber
yes, i agree...candle formations r very overlapping in EJ, makin da pair dirty..however, im also short EJ from 133.95 wid a stop @ 134.26 since dis morning...
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  • #6,149
  • Sep 10, 2009 6:44am Sep 10, 2009 6:44am
I think that the key of the next JPY movement will be the UJ pair and if the resistance arround 96.25 is respected
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  • #6,150
  • Sep 10, 2009 7:07am Sep 10, 2009 7:07am
Basber, you still in your EU trade? Now waves look good to me, however news are due in half an hour. Are you going to exit before the news?
  • #6,151
  • Sep 10, 2009 7:25am Sep 10, 2009 7:25am
i m waiting and enjoy the news Ding Dong
FxHome
  • #6,152
  • Edited 8:11am Sep 10, 2009 8:09am | Edited 8:11am
Sorry for the late post (I hesitate to post this chart as the trade has already triggered and hit TP1).

Long EU

EP 1.4565
SL 1.4540 (-25)
TP1 1.4600 (+35)
TP2 1.4700 (+135) - In the screen shot, I show a TP2 at 1.4640. I have changed that to 1.47 for now. If this continues higher, then a retest of last December's high might be in the cards. I will be watching to see how price reacts if and when it gets to the upper H1 channel trendline.

Stop loss is now at BE.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU 09-10-20091.jpg Size: 152 KB
Click to Enlarge Name: EU 09-10-20092.jpg Size: 157 KB
  • #6,153
  • Sep 10, 2009 8:18am Sep 10, 2009 8:18am
Trade with under pressure today due to news i was very confused when give up move i cannot closed until hit my strategically SL ...now i feel free
Attached Image (click to enlarge)
Click to Enlarge Name: 10 ej sell.gif Size: 32 KB
FxHome
  • #6,154
  • Sep 10, 2009 8:19am Sep 10, 2009 8:19am
EJ TP1 HIT. +44 pips.

My lastest experiences closing half positión in TP1 wasn´t good. Then front now on, i will test to close all the positión in first target.
Attached Image (click to enlarge)
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  • #6,155
  • Sep 10, 2009 8:33am Sep 10, 2009 8:33am
Buy Stop hit at 0.8596
SL = 0.8562
TP = 0.8615

Please comment. Seem like it is going to hit SL....
Attached Image (click to enlarge)
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  • #6,156
  • Sep 10, 2009 8:49am Sep 10, 2009 8:49am
Quoting p2pfast
Buy Stop hit at 0.8596
SL = 0.8562
TP = 0.8615

Please comment. Seem like it is going to hit SL....
Hit SL . Loss 34 pips. I suppose I entry too early. buy stop 7 pips above the first candle crossing sonic dragon. It retrieve, but only 2 candle and going up to execute my buy stop. Anything I should improve here. Appreciate comments...
  • #6,157
  • Sep 10, 2009 9:12am Sep 10, 2009 9:12am
Quoting p2pfast
Buy Stop hit at 0.8596
SL = 0.8562
TP = 0.8615

Please comment. Seem like it is going to hit SL....
Hi p2pfast,

This looks good except for one thing: You did not have a candle close above the dragon prior to entry. Ideally, for a SonicR long, you want price to make a Low, then rally into a high that closes above the dragon, then retrace back to make a higher Low within the dragon. Your buy stop would then be above the high of the bar that had closed above the dragon. The bar you place the buy stop above made a high above the dragon, but it closed below the upper trade band.

If you look at the EU, you will see an identical set up, but the EU managed to have a bar close above the dragon. This helped the EU reach first TP1 for +35 pips, while the AU did not have the buying strength behind it to get to its TP1. When choosing a SonicR trade, look at all the pairs you trade (AU, EU, GU) and pick the strongest, not the weakest, when going long. Pick the weakest, not the strongest, when going short. Today, the strongest was the GU, but it was so strong there was no longer a SonicR trade as it was so far above the dragon. The EU was stronger than the AU, so that would have been a higher probability trade.

Also, you will have losing trades. Losing trades are unavoidable. I think you did well in finding that set-up, and you should not be discouraged by the loss.
  • #6,158
  • Sep 10, 2009 9:22am Sep 10, 2009 9:22am
Quoting ddaytrader
Hi p2pfast,

This looks good except for one thing: You did not have a candle close above the dragon prior to entry. ...
Thanks DD,

The candle is actually above sonic bar. Candle high was 0.8589, dragon high was 0.8585. Do you the candle "body" must above the dragon, not only the "head"? I saw the EU example, the only different is the candle body was slightly above the dragon. Please elaborate. Thanks.
  • #6,159
  • Sep 10, 2009 9:28am Sep 10, 2009 9:28am
closed 1 lot and 2nd BE now hit TP one and now lets dicide the market ..

Muhammad
Attached Image (click to enlarge)
Click to Enlarge Name: 10 ej sell2.gif Size: 30 KB
FxHome
  • #6,160
  • Sep 10, 2009 9:30am Sep 10, 2009 9:30am
Quoting p2pfast
Thanks DD,

The candle is actually above sonic bar. Candle high was 0.8589, dragon high was 0.8585. Do you the candle "body" must above the dragon, not only the "head"? I saw the EU example, the only different is the candle body was slightly above the dragon. Please elaborate. Thanks.
The candle high was above the dragon, but the candle closed below the upper band of the dragon.

Quoting ddaytrader
You did not have a candle close above the dragon prior to entry.
Close, close, close!
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