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Sonic R. System

  • #6,541
  • Oct 1, 2009 12:27pm Oct 1, 2009 12:27pm
Quoting david4u
TAH can tell pls waht settings do u use for
H Server
H choice
I also use FXDD(gmt+3) but can not get the same values ?
Tks
David
As far as I know, TAH uses 3 Hrs from server, and 0 for Hrs destination.
Maybe you have your indicator switched to calculate the fibonacci pivots?
In this case switch "Show_1Day_2Fibonacci" to 1.

EDIT: Ups, posted too late. Tah already answered the question
cut losses short, let profits run.
  • #6,542
  • Oct 1, 2009 1:10pm Oct 1, 2009 1:10pm
Quoting lmarti21
Basber,

Your words always inspire me . what you have said is so true. Do you trade full time or part time?

I have no job and am trying to make this my full time profession but it has not always been easy but i have no choice but to be successful .

Your words along with some of the more experience Sonicer has really kept me going Thanks.

Rastaman " the race is not for the swift but for the one who endured to the end" I know some time it gets very frustrating but it is those times that we need to push a little harder.

Regards
Lmarti...
Hi Lmarti,

Thank You For Your Kind Words.

I Dunno What To Tell You About My Trading Time. Sometimes I Put 10 Hours aday And Somedays I Don't Even Look At Charts. But In Average I Put 5-7 Hours a Day For My Trading, Including Reading, Trading, Reading The Thread, Searching And Things Like This.

If You're Free Full Time, You Have Enough Time To Read The Thread, Analyze The Charts And Read Different Matterials About Forex And Demo Trade. In No Time I'm Sure You'll Be Over Many Traders. Just Do Demo

P.S. : I Liked The Last Sentence

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #6,543
  • Edited 3:17pm Oct 1, 2009 3:10pm | Edited 3:17pm
Quoting traderathome
Rastaman
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3) Whether trading demo or real, trade a puny amount compared to your account size. If your trades keep geting into trouble, remove your stops and don't do anything! What goes up, goes down....and visa versa. Leave it alone and most of the time you will come back to break even and even a profit.
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Hi TAH,
With All Due Respect (And Off course No Offence), I Completely Disagree With You. This Type On Confidence Gain Will Ruin Traders Behavior In Long Time, Because By Addicting To This Attitude, Trader Get Used To It And Will Start To Believe That His/Her Stop Losses Will Ruin His/Her Account, So He Will Remove SL Completely Off From His/Her Strategies. I Agree With Your Theory, But Addicting To It Cause Several Problems :

After Trader Addicted To This Behavior These May Happen ....

1) When You Are Having a Large Account That You Can Live Your Life Out Of It, Your Position Size Normally Is Larger That 1 Standard Lot. So Imagine That You Entered With 3 Lots. (With 50K $ Account) When Trade Goes Against You About -300 Pips, You'll Be In Loss About 9000$. The Thing Is Human Being Can't Tolerate This Amount Of Loss, So That Will Ruin Ones Confident That Have Been Gained During Demo Or Micro Acounts.

2) If Trader Is Addicted To This Behavior, Imagine That One Time Price Didn't Turn, It Will Burn His/Her Account.
I Might Add That I Burnt Twice My Account By Doing This.

The Problem Is I Don't Believe That If Someone Do It On Demo Account , It Will Be a Temprorary Attitude.

The Thing Is When You're Having Large Accounts (Larger Than 100K $) It's Mentally Hard To See Large Numbers In Negative. I Meant If You Are Trading 1 Micro Lot (0.01 Standard Lot) It's Easy To "See" -100 Pips Because It's Only -10$, But When You're Trading With 10 Standard Lots, It Will Make Your Heart Jump Out Of Your Breast By Seeing -10000$ !! That's Why When Professional Traders Trade With Huge Accounts, They Move Their SL To BE As Soon As POSSIBLE.

In Conclusion, I Personally Don't Suggest This Kind Of Trading, Because I Myself Experienced It And ......

After All, It's Just My 2 Cents

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #6,544
  • Oct 1, 2009 3:53pm Oct 1, 2009 3:53pm
GU: Presents interesting near term action. M30 is used since story is easily charted on this TF. WAVE broke down thru upward sloped TL, came back up to retest it, failed, dropped to form Double Bottom, and is currently awaiting new trading action. PA will either move back up, break thru downward sloped TL and possibly move more to gain upper Ep. Or PA will fail in area of that TL and drop again towards support and lower Ep.

There are other senarios, but not much different. The Eps are about 100 pips apart and sooner or later PA will break out of the range shown.

My bet, as I see it currently, is a breakout low. Dragon is sloped down and so is the 89 ema. And look at the Day chart. We cannot forget what it continues to show us.
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  • #6,545
  • Oct 1, 2009 4:05pm Oct 1, 2009 4:05pm
Quoting Basber
Hi TAH,
With All Due Respect (And Off course No Offence), I Completely Disagree With You. This Type On Confidence Gain Will Ruin Traders Behavior In Long Time, Because By Addicting To This Attitude, Trader Get Used To It And Will Start To Believe That His/Her Stop Losses Will Ruin His/Her Account, So He Will Remove SL Completely Off From His/Her Strategies. I Agree With Your Theory, But Addicting To It Cause Several Problems :

After Trader Addicted To This Behavior These May Happen ....

1) When You Are Having a Large Account That You Can Live...
Basber, your position and your reasoning for it on this point is far better than mine. I suggested what I suggested because I had this image of a trader frequently making entry at wrong time, with PA then moving against trade, and with prescribed SL......trade gets stopped out for a loss. To me, a temporary gameplan of removing SL to allow PA to trek its trek against the trade and then come back in direction of trade, may be more palatable than constantly dealing with one stopped out trade after another. For sure, it is not a wise real money trading solution. But employed during the phase of learning to improve entry, it may keep up spirits and.......cut down on too much trading, by having to sit back and await the outcome of such a trade first. That alone, will in time make anyone want to make better entries so the don't have to wait days on end because of a bad one!

For all those reading, I bow to Basber's wisdom on this point. My suggestion is only a temporary technique....and a bad one at best.
  • #6,546
  • Oct 1, 2009 11:34pm Oct 1, 2009 11:34pm
Quoting traderathome
GU: Presents interesting near term action. M30 is used since story is easily charted on this TF. WAVE broke down thru upward sloped TL, came back up to retest it, failed, dropped to form Double Bottom, and is currently awaiting new trading action. PA will either move back up, break thru downward sloped TL and possibly move more to gain upper Ep. Or PA will fail in area of that TL and drop again towards support and lower Ep.

There are other senarios, but not much different. The Eps are about 100 pips apart and sooner or later PA will break out...
At this writing PA is lookingl like it will take the low road. But FO/LO/USO are still a ways off, and any of them can institute a pump. So, while PA is currently in the Ep zone, the prudent thing would be to wait, even at the risk of missing the first entry of the trade.....another is likely to pesent itself anyway, as the Big Boy traders at LO and USO are not going to be any more disadvantaged than you want to be.
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  • #6,547
  • Oct 2, 2009 2:08am Oct 2, 2009 2:08am
TAH, I like your style of analysis. Simple and dont use too many indicators. Please continue to post so that we can all learn from your thought process.

Regards
  • #6,548
  • Oct 2, 2009 2:32am Oct 2, 2009 2:32am
GBP break lower.... not in this move, will wait for retrace back to 9MA on 15min to re-join the move.
  • #6,549
  • Oct 2, 2009 5:51am Oct 2, 2009 5:51am
Quoting traderathome
At this writing PA is lookingl like it will take the low road. But FO/LO/USO are still a ways off, and any of them can institute a pump. So, while PA is currently in the Ep zone, the prudent thing would be to wait, even at the risk of missing the first entry of the trade.....another is likely to pesent itself anyway, as the Big Boy traders at LO and USO are not going to be any more disadvantaged than you want to be.
This is the way it is working out. Having missed this last entry, I'll wait more and see what USO traders do with it. Still a chance of pullback upwards before USO, or after it.
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  • #6,550
  • Oct 2, 2009 6:13am Oct 2, 2009 6:13am
Hello, Sonikers!

TAH, there was indeed, a perfect entry on 15M TF good for 40 pips. Easy money can come even on fridays, too bad I've missed it too, oh well... Next week will give us plenty of possibilities to short with EU finally aligning to the down side and GU completing that H&S model.

Rastaman, plz don't give up this thing! I'm still a relative newbie myself (I've been doing this for 3-4 month only) but I can say that patience is a key. Besides that, attitude like "I WILL be if not the best trader on forex, but at least among the top ones!" can get you pretty far, unlike the one you have right now. To inspire you a little let me tell you that I believe I've learned the most from this thread when our PRO's (Sonic, Basber, TAH, DD, thank you, guys!) were answering your questions.

But anyways...аll I want to tell you is to be positive and everything will be alright!

Just my 2 cents =)


Thx
snu.
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  • #6,551
  • Oct 2, 2009 6:56am Oct 2, 2009 6:56am
EU M15: Trade possibility as I currently see it. US open traders might pump it, but I see the trend as down. Tps were derived from FE levels off BB (34,2 settings) pinch....levels 162, 262 and 424.
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  • #6,552
  • Oct 2, 2009 7:19am Oct 2, 2009 7:19am
With According The The H&S Pattern On GU Daily And Specially When Price Retested The Neckline And Failed To Break It And Made a PB On Daily TF , If The Neckline Of The Nice Double Bottoms (In E/G Pair) Shown In The Pic Breaks, Then We'll Gonna Have a Weak GBP Next Week. So It Will Be a Perfect Week To Seek For Short Entries On GU.

Anyway, I'm Not Trading On The NFP Announcement Days. So Weekend Starts For Me From Now

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #6,553
  • Oct 2, 2009 9:01pm Oct 2, 2009 9:01pm
Well, I truly blew a fuse the other day and this was probably due to me not being able to get internet access at or before important market openings. It was so frustrating to see possible setups and not be able to either take the oportunity or even watch them unfold.
That said, I have not blown my account or made any majors lossess, actually I still mananged to increase my account by about 15% in the few trades I managed to make durring this month in China.

Thanks to all for the encouragement and indeed thte kick in the Butt.

I am about to get on a plane and head back to Japan where I can undertand what people aer saying, to get my head back together and down to further study.


All the advise and support is greatly apreciated.
Starting to see instead of just looking.
  • #6,554
  • Edited 9:14pm Oct 3, 2009 8:47pm | Edited 9:14pm
We had a nice and not so smooth sell down in early last week...except some buy up on Friday,,, after it reach PPZ level 1.446x....

For the coming week, I am still "Bearish" for the pair and it could reach 1.437x level...

I will not turn bullish for the pair till I see a green candle or hammer on the pair..

Sonic
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  • #6,555
  • Oct 4, 2009 2:25am Oct 4, 2009 2:25am
Quoting sonicdeejay
We had a nice and not so smooth sell down in early last week...except some buy up on Friday,,, after it reach PPZ level 1.446x....

For the coming week, I am still "Bearish" for the pair and it could reach 1.437x level...

I will not turn bullish for the pair till I see a green candle or hammer on the pair..

Sonic
thanks 4 the analysis sonic, good to hear from U.

forgot to post my U/c trade last friday after the NFP news. saw the PA obediently went back to the TL formation.

took 2 position, one is just below TL, one is sonic setup.

+ 80 pips.
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trade safe
  • #6,556
  • Oct 4, 2009 5:50am Oct 4, 2009 5:50am
G/U :
Picture 1 & 2 : With Regards To H&S Formed In This Pair, It Was Excepted For Price To Drop, But There Is a Resistance Due To IPB Or Inverted Hammer Price Action/CandleStick And Price Also Hit 38.2% Of Last Bullish Movement And Returned , Retested The Neckline And Dropped Again. So I Will Be Bearish With This Pair If It Breaks The 38.2% Of Fibo, So Inverted Hammer Will Be Ignored, But The Thing Is There Is Price Also Made a Daily PB Supported With RSI (Both Made HH) And Price Hits The Channel Blue Line That Makes Me Think About Going Long Too. So My Bias For Incoming Week For Monday And Maybe Tuesday Is Bullish, If It Didn't Break The 38.2% (And If I Saw a Sonic Entry Off Course) And Then I'll Seek For Short Entries.

U/J :
Picture 3 & 4 : I Don't Usually Use Any Indicator On Weekly TF, But The Beautiful PB On Daily TF Made Me To Check The RSI On Weekly Chart. I Believe It's a Good Point For Reverse According To The Indicator And Price Action, Specially That Yummy PB. So I'll Seek For Long Entries For This Pair During Next Week.

E/G :
Picture 5 & 6 : After Price Retest The 61.8% Fibonacci Of The Last Bearish Movement And According To Double Bottoms (That The Neck Had Broken) I'm Bullish With This Pair And I'll Seek For Long Entries.
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Trading methods are designed to put the odds in our favor, not predicting.
  • #6,557
  • Oct 4, 2009 6:08am Oct 4, 2009 6:08am
U/CAD :
Picture 1 & 2 : There Is a Good Shape PB On Daily TF, But As You Can See In Daily And Weekly Charts, It's Ranging Badly. If I See a Short Entry On This Pair , I'll Take It With a Lot Of Carefulness. No Long Entries For Me For This Pair.

A/U :
Picture 3 & 4 : There Is a Nice PB With Very Perfect Space Around It On Weekly TF. But There Is a Strong Uptrend On Daily TF, So I'll Wait For Price To Break The Trend And Make a Short Entry Below 0.8560, But I Don't Like To Seek For Long Entries, Because I Believe USD Is Going To Power Up This Week.

G/J :
Picture 5 : There Is Nice And Offcourse Big Double Tops On This Pair. But Also Price Hits 50% Fibo Of The Last Bullish Movement And Price Made a PB On It On Daily TF. In Conclusion, I'll Like To Seek For Short Entries, If The 50% Fibo Broke. Even With That PB, I Don't Like To Long This Pair.

A/J :
Picture 6 & 7 : Just Like U/Cad, Price Made a PB On Daily TF But In a Very Consolidation Mode. But Also Price Broke The Uptrend And Failed To Break The 50% Fibo Of The Last Bearish Movement. I Will Put This Pair On Hold And Wait To See More Clear Bias.

Regards,
Basber
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Trading methods are designed to put the odds in our favor, not predicting.
  • #6,558
  • Oct 4, 2009 10:12am Oct 4, 2009 10:12am
Basber, thank you for your analysis. I can learn a thing or two about longer term trading from your writings. Cheers.
  • #6,559
  • Oct 4, 2009 1:57pm Oct 4, 2009 1:57pm
basber me 2
thanks

Quoting furburr
Basber, thank you for your analysis. I can learn a thing or two about longer term trading from your writings. Cheers.
"The person who knows that enough is enough, will always have enough". .
  • #6,560
  • Oct 4, 2009 4:29pm Oct 4, 2009 4:29pm
Quoting Basber
Hi TAH,
With All Due Respect (And Off course No Offence), I Completely Disagree With You
With all due respect, and likewise meaning no offense, I am with Basber on this one. Please do not lift your stop loss when in a trade. If you lose 20. 40, 60 pips, you can get that back on the next trade. But if you lift your stop and price moves against you, it can move 100, 200, 600+ pips against you. Who here could easily recover from such a loss?

Trading without a stop is like driving drunk while using your seat belts as a blind fold. It is not a question of if you will die, but merely when. Most likely, the answer is "very soon."

Remember, in addition to the wave analysis, S/R, and price action that makes up Sonic's set up, he also has another part - money management. The two put together make up the Sonic System.
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