Attachments: Sonic R. System

Sonic R. System

#7,381
Nov 5, 2009 3:09pm Nov 5, 2009 3:09pm

david4u
| Joined Jan 2008 | Status: Trader | 511 Posts

ddaytraer & traders
At the entry point CCI was pointing down BUT was ABOVE zero .
Is this a legitimte entry ?
Tks
David

Quoting ddaytrader

Disliked

Another EJ Short, though I'd have liked it better had the EP been below the dragon. Also, tomorrow is NFP, so at any moment price can go flat line until tomorrow.

EP 134.40
TP1 133.90
TP2 133.40
SL 134.90

Update: Pulled the plug on this trade at -30. I probably should have pulled it sooner. So two trades today, +70 & -30 for a +40 day. Not too shabby. I will probably stay flat until after NFP tomorrow.

Update II: Pulled the plug none too soon p price spiked through my stop while I was typing the first update. Sometimes you just get lucky....

Ignored

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#7,382
Nov 5, 2009 3:56pm Nov 5, 2009 3:56pm

ddaytrader
Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts

Quoting david4u

Disliked

ddaytraer & traders
At the entry point CCI was pointing down BUT was ABOVE zero .
Is this a legitimte entry ?
Tks
David

Ignored

The problem with this trade was I did not have enough patience. Price never closed below the dragon. The dragon was rising. I needed more patience to wait for price to close below the dragon. I made 70 pips on my first trade today, and I wanted this to be a 100 pip day. I forced a trade and ended the day +40 instead of the +70 that I should have been happy with.

For what its worth, CCI is a lagging indicator, and many times good SonicR entries breakout before CCI crosses zero in the direction of the trade. In my opinion, CCI should be used for Sonic Re-entries, but not classic SonicR entries.

For SonicR, you need wave analaysis, support and resistance, and price on the right side of the dragon. I had the first two, but not the third.

#7,383
Edited 6:58pm Nov 5, 2009 6:43pm | Edited 6:58pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

GU: As ddaytrader said, things may be very flat until US GDP a little less than 9 hours from now. On the other hand, the powers at large may want this at a different level going in to that release. So, I look at the chart and see this upward slope TL with price coming down to tap it. That makes one low below Dragon. And price is now back up to/into Dragon. So, all that remains for a SonicR is another run down, past this low.

Edit: I may have drawn the TL wrong. Look at the PA in second chart, how it dropped below 2nd TL, then came back up to 'test' it. I think that is the real TL. And that 'test' creates another LH. Now that the TL has been re-tapped from below, after a breakdown thru it, if price drops further to Ep we may have something.

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#7,384
Nov 5, 2009 8:04pm Nov 5, 2009 8:04pm

Domas4
| Joined Jul 2009 | Status: Trader | 831 Posts

E/JPY trade,
I might let TP2 much more down if things go well and market goes in my favor.

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cut losses short, let profits run.

#7,385
Nov 5, 2009 8:25pm Nov 5, 2009 8:25pm

ddaytrader
Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts

Quoting Domas4

Disliked

E/JPY trade,
I might let TP2 much more down if things go well and market goes in my favor.

Ignored

I'm in with you ...

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#7,386
Edited 8:48pm Nov 5, 2009 8:28pm | Edited 8:48pm

Rastaman
Joined Sep 2008 | Status: Trader | 2,298 Posts

TAH

Any chance you can answer this question which Snusnu and I were discussing yesterday?

It is the USD/CHF chart from last night and both of us have different thoughts on how such a scenario should be approached.

If we have a High & Low after which is a Higher Low but then we get a LOWER HIGH & A LOWER LOW. Does this invalidate the LONG setup?

I mean point A on this chart breaks the high of the original HIGH but fails as a trade.

My question is, is this how a possible LONG setup should be regarded after PA makes a Lower High and Lower Low?

Sorry to bother you with this but it has been stuck in my mind all night.

Someone took this trade yesterday so obviously this point is better to be addressed.

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Starting to see instead of just looking.

#7,387
Nov 5, 2009 9:03pm Nov 5, 2009 9:03pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

Quoting Rastaman

Disliked

TAH

Any chance you can answer this question which Snusnu and I were discussing yesterday?

It is the USD/CHF chart from last night and both of us have different thoughts on how such a scenario should be approached.

If we have a High & Low after which is a Higher Low but then we get a LOWER HIGH & A LOWER LOW. Does this invalidate the LONG setup?

I mean point A on this chart breaks the high of the original HIGH but fails as a trade.

My question is, is this how a possible LONG setup should be regarded after PA makes a Lower High and Lower...

Ignored

Rastaman, it looks like it was "just one of thoe days...."!

You, above all, should get this......you are looking for precision, where there is only art!

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#7,388
Nov 5, 2009 9:15pm Nov 5, 2009 9:15pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

GU: Well, like the old seer ddaytrader said, things could go flat now until releases, yet hours and hours away. In this case, price double tapped steeper TL and seems to be following shi Channel mid-line for now. Still I wonder if a surprise drop down thru Ep might happen....good for a few pips, maybe? Naw. It will probably range, maybe tighter and tighter....a waste of time......until the releses come in. But, you never know.

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#7,389
Nov 5, 2009 9:17pm Nov 5, 2009 9:17pm

Rastaman
Joined Sep 2008 | Status: Trader | 2,298 Posts

Quoting traderathome

Disliked

Rastaman, it looks like it was "just one of thoe days...."!

You, above all, should get this......you are looking for precision, where there is only art!

Ignored

Thanks T
I really appreciate this as it was like a splinter in my brain all night.

So, if I read your chart correctly, after a failure of a breakout the more recent High & Low is what we base near future setups on.

Starting to see instead of just looking.

#7,390
Nov 5, 2009 9:26pm Nov 5, 2009 9:26pm

furburr
| Joined Mar 2009 | Status: Trader | 67 Posts

Quoting ddaytrader

Disliked

The problem with this trade was I did not have enough patience....

Ignored

Really appreciate all the setup postings. But what I really like is DD's way of cutting out bad positions. Hope to hear more about his thought process. Its easy when the setups work properly. Its the ones that doesnt that I am interested to learn more about. Position management and risk control is soooo key to this game.

#7,391
Nov 5, 2009 11:28pm Nov 5, 2009 11:28pm

sonicdeejay
| Commercial User | Joined Mar 2008 | 9,069 Posts

Market really looks Death to me...
But tonight gonna dance with the big news...

White Lies - Death

Inserted Video

Sonic

#7,392
Edited 12:47am Nov 6, 2009 12:25am | Edited 12:47am

Rastaman
Joined Sep 2008 | Status: Trader | 2,298 Posts

Quoting sonicdeejay

Disliked

Market really looks Death to me...
But tonight gonna dance with the big news...

White Lies - Death

http://www.youtube.com/watch?v=qZ2uJcETFhQ

Sonic

Ignored

Death indeed.

Death of a decent voice and certain Death of any guitar playing talent.

The Market Needs some FUNK!!!!!!

Inserted Video

Starting to see instead of just looking.

#7,393
Nov 6, 2009 12:30am Nov 6, 2009 12:30am

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

GU: You see, Rastaman, all those Hs and Ls on this one.....didn't add up to didilly! Now, maybe.......... (drawing in bold green). Say, if this goes down ("IF!"), maybe the wave is on a bolder scale!

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#7,394
Edited 1:56am Nov 6, 2009 12:46am | Edited 1:56am

Rastaman
Joined Sep 2008 | Status: Trader | 2,298 Posts

Quoting traderathome

Disliked

GU: You see, Rastaman, all those Hs and Ls on this one.....didn't add up to didilly! Now, maybe.......... (drawing in bold green). Say, if this goes down ("IF!"), maybe the wave is on a bolder scale!

Ignored

Thanks T

I can clearly so the Bigger picture.

That is it really, isn't it? The ability to mentally Zoom In & Out to get a clear view of what is going on.

Starting to see instead of just looking.

#7,395
Nov 6, 2009 2:16am Nov 6, 2009 2:16am

Rastaman
Joined Sep 2008 | Status: Trader | 2,298 Posts

Well, looks like I need a new demo account as @DL Japan has just as of today changed their demo platform to only accept full lots.

Any suggestions for a new demo broker platform would be appreciated.

Also, they have started playing the changing spread game and over half a million yen gets you from 0.8 ~2.0 USD/JPY rate.

Yeah, sure.

Thanks

Starting to see instead of just looking.

#7,396
Nov 6, 2009 3:32am Nov 6, 2009 3:32am

Rastaman
Joined Sep 2008 | Status: Trader | 2,298 Posts

Well, I found a decent broker here that has a good java platform which I am trying to get to look like out system.

Got the CCI setup alright but, there is a super trend indicator which I suppose is like the bar that changes color on our Sonic CCI.

Does anyone know the settings for the bar in the sonic CCI?

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