Sonic R. System

Good Job FB.

I am also a newbie and am trying to play out all those emotions and learn to let the market come to me and not chase it, before I go live.

Let's all Persevere together as they say in Japanese "Ganbari Masho"! LoL

Thanks DD,

To Emphasize This Matter, I Should Share That After Starting To BreakEven Most Of The Time (It May Help You FR), I Realized That THE ONLY ATTITUDE THAT MAKES ME SHIFT FROM BREAKEVEN MODE TO PROFIT MODE IS TO BE SELECTIVE (Or Picky !) ABOUT THE TRADES.

FR, Don't Think That You Have Problems About Waiting For a Good Setup. I'm Sure Even High Experienced Traders Do This, But They Correct Their Attitude As Fast As It Could Be Fixed, So They Will Not Be Hurt. Remember, You're In The Most Hardest Part I Believe, So It Will Take Time To Go To Your Veins.

Try To Share Your Setups, So We Could Help You Master This Method Faster.

And I Should Say It Again ... As DD Said Many Many Times, Go Through The Whole Thread. The Whole ... Every Post ... Take Some Notes When You See Something Interesting ...

Regards,
Basber

Thanks for the encouragement guys. I'm already partially through the thread, its very fun read so its something I enjoy

Basber, how do you pick trades when they are pretty much based on the same setup? I can understand that not all situations will be the same. But once the setup is in place, don't we have to execute without thought/emotion? I apologise if this has already been discussed earlier as I'm still at the early pages of the thread.

FB

GU:
- There might be some support between AA ~ BB; a long setup there
- If BB break out with speed and volume, a short setup there
EJ:
possible Header-shoulder bottom
- a short setup first
- then a long setup

IT'S A MUST READ. DON'T SKIP !

Let Me Start This Way :

For Example, Driving Has Same Rules, Same Objects, But When It Comes To Driving, You See Some People Drive Like They Are Controling a Washing Mashine And Some Other Drive Professionally. But The Tools Are The Same. So Why Is That Happening ? What Is The Difference. It's Some How The Same As Trading. Some People Drive Emotionally, They Have a Lot Of Fear Or They Are Not Mature To Drive Or They Are So Stubborn That They Don't Accept Their Faults; So They Will Never Become a Good Driver Untill They Change Their Attitude. In Trading, It's The Same. You Can't Teach Or Say How To Drive Professionally, The One Should Findout Himself/Herself.

Like I Said Before, There Is No Rule For Better Setups, It's Just Experience. If There Was a Rule, So Why The Hell This Thread Was Needed ? Sonic Would've Put a Manual And Then Every One Will Read It And Become a Pro Sonic Trader.

Like It Has Been Said Before, There Is No Secret. And As You Said, Main Rules Are The Same And Consistance. I Said It Few Times That SonicR Is Not a System. It's a Method. Any One Who Wants To Be Profitable, Should Manualize It For Himself/Herself. I''ve Seen Many Comes Here And Leave, Without Any Profit, But Some Stay And Make Their Own Destiny In This Method.

There Is No How And What To Answer Your Question. Because You Should Put Months To Understand The System, And To Master It. After You Master The System, You Will See When You Are More Comfortable With a Setup. What Do You Need Too See To Take The Setup. That's All Possible But The Thing Is You Should Find It Yourself.

The Bad News Is You Are Alone In Many Aspects Of This Business, But The Good News Is Many People Are Here To Help You Find Your Own Way Of Trading.

I Don't Remember That I Said There Is Something Wrong Or Right, The Thing I'm Seeking For Is What Works For Me And What Doesn't.

That's Why It's Important For You And Anyone Else Who Wants To Become Profitable In This Method To Read The Whole Thread. If You Or Anyone Else Read It Or Not, It Doesn't Make Any Difference For Me Or Anyone Else. It's All For You Own Sake.

After All, The Thing That Will Change Over Time In Your Trading With a Method, Is Your Point Of View. There Are Steps To Change Your Point Of View, It's Not a One Night Job. It Must Take Time To Go Through Your Brain. That's Why I Insist On Taking Notes.

Understanding The Basic Principles Of a Method Is Just The Beginning Of The Road. The Journey Just Began ! So Make Yourselves Ready.

I Said It Many Times, Think About It, If It Was Easy, Then Everyone Was a Millioner By Now.

Let Me Tell You Some Other Bad News !!! Think As It This Way, That There Are Only Two People In Forex World. If One Of Them Loss 10$ And The Other Gain 10$, The One Who Had Loss, Should Pay For Example 13$ And The One Who Was Profitable Will Take 7$ Off The Table. So There Is 6$ Missing That Goes For Commision Or Things Like That. So At Normal Calculations It's Not a 50-50 Business. Including Commitions, Slippage And Things Like That, It's About 30-40% Win Money. Pay Attention ! Win MONEY ! Not Win Rate. Now Consider It Even 40%, Most Of It Belongs To Big Guns, Like Banks. So Individual Traders Has a Very Little Success Rate In This Wild World. I Don't Want To Scare You, But It's The Truth That Many Of Us Try To Ignore It, Because We Don't Like It. So That's Why They Say 95% Will Fail.

But The Good News Is All 95% Who Fails Is 100% Of Psychological Matters. But The Thing Is They Don't Accept It. They Think They're Right, They Don't Listen To People Who Had Travelled Their Road. It's The Most Stupid Thing That When a Wheel Is Invented, Someone Want To Invent It Again !! But That's The Nature Of Human Being.

Now We Came To Your Post ... Emotions. Only Traders Will Succeed Who Are Trying To Overcome Their Emotions. Yes, When We See a Setup, We Should Put Aside Our Emotions, In Any Level. I Know It's Hard, You Can't Put It Aside For Ever, But You Can Work On It To Minimize It.

But About Thinking ... Newbie Traders Should Think More And More On Any Setup, Analize It And Write Down Some Notes. The Level That You Need Not To Think About What You See, Is When You Become Professional Not Now. Again, In Driving, After You Become Professional, You Don't Think About The Peddals Or Wheel Or Gear, You Just DRIVE ! That's How It Works.

You Need To Work Hard, So You Can Achieve a Precious Thing.

Some Parts Of My Post May Not Relate To Your Posts, But I Thought It Was a Good Time To Share Some Of My Point Of Views. That's Right ! My Point Of Views. Maybe I'm Wrong Or Maybe I'm Right, But That Doesn't Matter For Me, This Is What Worked For Me. I'm Just Sharing, Not Teaching !

I Thought It May Help Many Others, So I Wrote That Must Read Thing At The Beginning Of My Post.

Sorry If I Had Typing Or Grammer Or etc. Faults. English Is My Second Language

Regards,
Basber

Nice one Basber & I can certainly relate to this because of the following.

When I was 18 and got my drivers license, one night I borrowed my father's brand new red Jaguar to take a girl out, you know how it is.

Anway, I took the back to her home and was driving home and had stopped at a red light. A Porsche pulled up in the next lane on the left of me and the driver was revving his engine up in a challenging manner.

I got caught up in this and did the same, we both sped off and the Porsche got the better of me up to the 180 kph mark then I fired in the overdrive and burnt the guy off. Unfortunately a car coming in the other direction turned right in front of me, I swerved the handle and hit a small wall which the car rode up into the air, I fell out of the door, the car smashed the door off a house and flew back into the road with me rolling through the grass of this large garden, until I rolled over some large rocks and totally smashed my knee into splinters. I survived with a leg in a plaster cast for a year.
The car was a right off as it broke in half.

Anyway, now when a car pulls alongside me and the driver revs his engine up in a challenging manner, I smile a let them fly off as I drive carefully these days and do not even consider rising to their challenges.

I now realize, the point is not getting there fast, but getting there in one piece!


Hopefully I will at some stage be able to trade as I NOW drive.

Basber, and indeed anyone else, I have a quick question about the S&R lines after I have just been setting up my charts for tomorrow.

I may be getting too carried away with them and perhaps there is some rule of thumb as to how important an S&R line is, based upon round number areas or how many times PA has bounced off of a line?
Possibly, I may need to use less lines?

Thanks in advance

thanks 4 P4Clock

Ok, I think I got control of myself with these S&R lines.

Found the most prominent ones and drew them on the chart and then put a fibo on it and it seems to fit like a glove.

I See You've Got It Yourself RM The Thing Is The Ones That Is Hit Once Is Good To Look At. I Meant Sometimes At These Areas, I Change My SL (Lower, BE, Or Stop Profit). But You Don't Need To Get Out Of The Trade Neccesary If You Think Price Will Break The Resistance That Had Been Hit Once Or It's a Weak One. As You Said, You Can Get Stronger Ones With Fibs.

Sorry For The Late Answer. But If There Is Many Lines On Your Chart, Try To Delete Ones That Are -+150 Pips Away From The Recent Price. So You Will Have S&Rs Close To Recent Price. I Don't Think There Is More Than 4-5 Obvious Resistances/Supports On Each Side.

P.S. : Your Story About Driving Was Really Interesting For Me ! I Thought I Imagined a Movie !!

Regards,
Basber

Hi Everyone,

I Must Tell That I Have a Real Tough Schedule These Days And It's Gonna Last For Few Months, Because I'm Reading For My Masters Degree And I Have Exam In About 4 Months From Now. So I Can't Post Much, But I Always Will Be Around And I'm Sure I'll Post When I See I Can Be Helpful.

The Thing Is, I Wanna Ask Rastaman, ZZ, Snu And Some Others Who I Have Forgotten Their Names Now, To Start Helping Newbie Traders To This System. I'm Sure You All Can Help On Certain Things And I'm Sure That Will Accelerate Your Learning Process. So Start To Answer To Questions, Even If You're Not Sure.

I'm Sure With The Presence Of Sonic, TAH And DD There Will Be Nothing Wrong If You Answer Something Wrong. So Encourage Yourselfs To Play Bigger, And You'll See The Difference.

When You See a Question, Don't Wait Till Seniors Answer It, Try To Contribute More.

That's All I Can Say For Now. Take Careeeeeeeeeee And I'm Gonna Miss You Alllllllllllll

Regards,
Basber

Wishing you the best as you prepare and then sit for your examinations, Basber. If your approach to your studies is anything like your approach to trading, you will pass with honors.

Your Friend,

DD

Gee, Basber.....you're young! With the wisdom you've expressed here, I had the picture of you being an old fart....with a gotee, or something!

(heh,heh)

ddaytrader said it well. You are likely approaching the task of student working for his Masters Degree as you approach skill improvement in trading, and you will do well. You have my best wishes, and my prayers, in that endeavor.

Yes, I told Basber the other day, I thought he was around 35, too much wisdom for his age. Then again, I am sure we are all grateful for this wisdom.

Go nail that MA Basber with +150 pips above average score, you can do it.

Many, thanks.

This is what Im looking at today. Re-entry in a downtrend upon test of fibo levels coupled with test of dragon channel.

Funny isn't it how people look at things differently.
After looking a higher TF, I was thinking we may see something like this on EU as 38.2 fibo seems to be holding up, for now.

DD, TAH, RM, Thank You For Your Nice Words

Regards,
Basber

Relaxing mates...

Banks holiday..today...

Sonic

Now THERE is a smart man.