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Sonic R. System

  • #7,681
  • Nov 18, 2009 10:35am Nov 18, 2009 10:35am
Some questions ...
I don't see many people trading EU , any particular reason ? Not sexy enough ?
Looking at the EU :
1.Initial SL should be far from the hit @ SL1 or can be SL2 .
2. Do you see any other TP rather than mR1 & DR1 ?
3.As the trade advances, do you trail SL to SL3 , SL4 ?
4. I see TP1 achieved and then exit @ SL4 . I don't see myself holding the news and big retracement to point A .
5 Do you see any "logic" scenario to achieve TP2 @ point B ?
6.Do we have a "perfect" trade managment "by the book" ?
Tks for your help
david4u
Attached Image (click to enlarge)
Click to Enlarge Name: sonic eu.gif Size: 36 KB
  • #7,682
  • Nov 18, 2009 11:42am Nov 18, 2009 11:42am
Nice one !
I did take this trade partially :
Quoting cignus
in the poket...
(EURUSD)
We don't have the same chart... And my 2 TP would have been hitten if I had traded this one like U or like the picture joined... but I came too late...


Quoting david4u
Some questions ...
I don't see many people trading EU , any particular reason ? Not sexy enough ?
Looking at the EU :
1.Initial SL should be far from the hit @ SL1 or can be SL2 .
2. Do you see any other TP rather than mR1 & DR1 ?
3.As the trade advances, do you trail SL to SL3 , SL4 ?
4. I see TP1 achieved and then exit @ SL4 . I don't see myself holding the news and big retracement to point A .
5 Do you see any "logic" scenario to achieve TP2 @ point B ?
6.Do we have a "perfect" trade managment "by the book" ?
Tks for your help
david4u
Attached Image (click to enlarge)
Click to Enlarge Name: sonic_eurusd_2009-11-18_ut15_3.gif Size: 17 KB
  • #7,683
  • Nov 18, 2009 1:40pm Nov 18, 2009 1:40pm
Quoting tullid
Hey guys - for those with multiple monitors, the easiest way to Print Screen one window is to make sure it is the active window on your PC, then press ALT+PrtScrn on the keyboard, which will copy only that window. From there open up M$ Paint and CTRL+V to paste.

You can use the Select tool in Paint to highlight what you want from the copied window, then press CTRL+X to cut, CTRL+N for new window, then CTRL+V to paste into a new doc. Select File/Save As, then save the file as a .PNG, which you can post up to FF.

Hope this helps!

-Dan
Dan, if it works (I'm sure it does) I will be cured! Many thanks for this valuable info to make a not so state of the art computer do what needs to be done (it is old, but still more than adequate....and I built it myself). Old age is not the problem here, just failure of stingy Microsoft to give decent upgrades with updates (guess they'd rather con the public into new OS).
  • #7,684
  • Nov 18, 2009 1:44pm Nov 18, 2009 1:44pm
Quoting cignus
Here is my profile of MT4 on my mobile computer (res 1920x1200)...
But, even with centrino dual core processor, MT4 is a little too slow to react..
Have I got too much windows?

How is your profile ? how are your watching the market and the different pairs to find opportunities?
Piling on the processor power may not matter a hoot when it comes to forex trading. No matter how sophisticated and powerful the user's system, all you will be accomplishing is increasing the wait time for the broker's delayed tic! (heh, heh)
  • #7,685
  • Nov 18, 2009 2:05pm Nov 18, 2009 2:05pm
Quoting traderathome
Piling on the processor power may not matter a hoot when it comes to forex trading. No matter how sophisticated and powerful the user's system, all you will be accomplishing is increasing the wait time for the broker's delayed tic! (heh, heh)
Not sure I've well understand the meaning of your answer...
You want to say that it doesn't matter that the computer is powerfull or not.
But, if MT4 is very slow to draw ur graphics and to change pair display etc...
It's a little boring...
Sure it 's more for comfort than for accuracy...
Sure a good broker is more important...

But my question still remain...

thank you anyway for the answer
  • #7,686
  • Nov 18, 2009 2:07pm Nov 18, 2009 2:07pm
Quoting pipoca
Hello i propose a long on USDCAD.

The proximity of the DPV in front of the price is a preoccupation. Can this fact force us to renonce to do the trade ?

Thx for this magnificent template , many thanks to Traderathome
Hope your stoploss hasen't been hit
  • #7,687
  • Nov 18, 2009 4:06pm Nov 18, 2009 4:06pm
What about this one ?
Attached Image
  • #7,688
  • Nov 18, 2009 4:19pm Nov 18, 2009 4:19pm
All is well that ends well.
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 178 KB
Starting to see instead of just looking.
  • #7,689
  • Edited 5:06pm Nov 18, 2009 4:33pm | Edited 5:06pm
Quoting cignus
What about this one ?
Hello, I send you my analysis S/R on 4h TF. Hope it is useful.
For this one I think we are near important support.
Plus waves on the 15 min suggest a bottom pattern
I am swiss and I think BNS does not like CHF too strong. 1chf = 1usd max and 1eur = 1.50 chf min.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdchf 4h 18.11.09.gif Size: 30 KB
Click to Enlarge Name: usdchf sonic 18.11.09.gif Size: 50 KB
  • #7,690
  • Edited 4:58pm Nov 18, 2009 4:46pm | Edited 4:58pm
Quoting cignus
Hope your stoploss hasen't been hit
USD/CAD long trade loss -24 pips

I shouldn't take this trade and I shouldn't close this trade prematurly after the news not in favor of a long. My stop was never hit (SL @ 1.0469 and low @ 1.04734). At the end of the day the trade was positive.

Now I will follow the plan and once the trade started I will go to bed or work for a while. I can say seeing my trades with Sonic, that each time I change the SL level or TP, the trade finish with no benefit. Each time I followed the sonic and the plan it was benefit. I have done only few real trades (less than 20).

The trade was hit with good news for the Loonie, should I avoid such news or simply ignore it ?

Is there kind of news that a soniker should absolutely avoid ?

When beeing hit with bad news, should a soniker close the trade or stick to the plan ?
  • #7,691
  • Nov 18, 2009 7:32pm Nov 18, 2009 7:32pm
Quoting traderathome
UJ: This could be re-entry territory for a short trade now.
Yeah, it looked that way then, but with GU also looking as short (good call, Rastaman) I should have had my head handed to me for even thinking of UJ also as a short. So, it later soared north. But look, the macd is heavily to the bear side on H4 with PA making lower lows, etc. Still a short, but longer term. And that may mean GU is a long, but longer term.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: # 047 .gif Size: 40 KB
Click to Enlarge Name: #050.PNG Size: 82 KB
  • #7,692
  • Edited 8:33pm Nov 18, 2009 8:18pm | Edited 8:33pm
Quoting pipoca
USD/CAD long trade loss -24 pips

I shouldn't take this trade and I shouldn't close this trade prematurly after the news not in favor of a long. My stop was never hit (SL @ 1.0469 and low @ 1.04734). At the end of the day the trade was positive.

Now I will follow the plan and once the trade started I will go to bed or work for a while. I can say seeing my trades with Sonic, that each time I change the SL level or TP, the trade finish with no benefit. Each time I followed the sonic and the plan it was benefit. I have done only few real trades...
While sometimes (rarely) the "news" might contain something of importance to the relative value of currencies, more often than not the "news' is no more than an "event" which the central banks and trading syndicates use to drive the price one way or the other. And the direction they drive it, more often than not, has more to do with which direction will give them the most profits and has little to do with the actual contents of the so called "news". You can see this to be the case when so often within days, or a couple of intraday sessions, or even within a few hours the price will have mostly or even completely reversed itself!

Whether or not you agree with this assesment, it can be far more profitable to not trade the news, but trade the later reversal. Does it always happen? No. But it happens so often that it makes little sense to take the risk to trade the news itself. Trading the reversal is less stressful, less frenetic.

Just my opinion, though. The attached chart gives an example. Yesterday session there was US "news", and the price went up. Now the price went back down! Don't rely on the "news content" being the actual "reason" for price movement!
Attached Image (click to enlarge)
Click to Enlarge Name: # 049 .gif Size: 42 KB
  • #7,693
  • Nov 18, 2009 8:57pm Nov 18, 2009 8:57pm
Morning people.

Yeah, T, I also took the UJ short but bailed out of it with a pips ahead.


Been up since 5 am this morning reading "Technical Analysis of the Financial Markets", interesting read, for sure.

Thanks for the info Dave
Attached Image (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 102 KB
Starting to see instead of just looking.
  • #7,694
  • Nov 18, 2009 9:22pm Nov 18, 2009 9:22pm
Quoting Rastaman
Morning people.

Yeah, T, I also took the UJ short but bailed out of it with a pips ahead.


Been up since 5 am this morning reading "Technical Analysis of the Financial Markets", interesting read, for sure.

Thanks for the info Dave
Why did you draw your FR from that starting point?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic.jpg Size: 102 KB
Click to Enlarge Name: # 050 .gif Size: 47 KB
  • #7,695
  • Nov 18, 2009 10:14pm Nov 18, 2009 10:14pm
Quoting traderathome
Why did you draw your FR from that starting point?
Because of the rounding Saucer & the resistance lines which were respected.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Rounding Saucer.jpg Size: 288 KB
Click to Enlarge Name: pic.jpg Size: 91 KB
Starting to see instead of just looking.
  • #7,696
  • Nov 18, 2009 10:19pm Nov 18, 2009 10:19pm
Quoting Rastaman
Because of the rounding Saucer & the resistance lines which were respected.
Rastaman,

I admire your hard work and study.

Keep it up!

-DD
  • #7,697
  • Nov 18, 2009 10:24pm Nov 18, 2009 10:24pm
TAH , Rastaman , dd , friends
Can someone take a look at my post #7681
Tks
David
  • #7,698
  • Nov 18, 2009 10:26pm Nov 18, 2009 10:26pm
Quoting ddaytrader
Rastaman,

I admire your hard work and study.

Keep it up!

-DD

Thanks DD.

It is really all true to yourself, TAH and Sonic, I finally got my head around what you were telling me all along. There are no shortcuts.
Starting to see instead of just looking.
  • #7,699
  • Nov 18, 2009 10:28pm Nov 18, 2009 10:28pm
Quoting david4u
Some questions ...
I don't see many people trading EU , any particular reason ? Not sexy enough ?
Looking at the EU :
1.Initial SL should be far from the hit @ SL1 or can be SL2 .
2. Do you see any other TP rather than mR1 & DR1 ?
3.As the trade advances, do you trail SL to SL3 , SL4 ?
4. I see TP1 achieved and then exit @ SL4 . I don't see myself holding the news and big retracement to point A .
5 Do you see any "logic" scenario to achieve TP2 @ point B ?
6.Do we have a "perfect" trade managment "by the book" ?
Tks for your help
david4u


David, I think the more senior members should answer these question for you. I gave you my take as a relative newbie to this system in the email.
Starting to see instead of just looking.
  • #7,700
  • Nov 18, 2009 10:32pm Nov 18, 2009 10:32pm
Quoting david4u
TAH , Rastaman , dd , friends
Can someone take a look at my post #7681
Tks
David
I saw your post and I liked several things that you noted. I will get to your questions tomorrow.

Have good nght,

-DD
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