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Sonic R. System

  • #7,781
  • Nov 20, 2009 3:42am Nov 20, 2009 3:42am
well done !!!
Quoting Rastaman
Closed out the last half of my trade for +65 pips.

Didn't like the initial lack of volume over the last 2 candles and CCI is starting to glance upwards at these major reversal points & is sort of curving. I don't like this curve on the CCI.
  • #7,782
  • Nov 20, 2009 3:56am Nov 20, 2009 3:56am
Quoting david4u
well done !!!

Thanks David and indeed many thanks for the research material, I read a lot of it but I am going to read the Whole thing this weekend.
Starting to see instead of just looking.
  • #7,783
  • Nov 20, 2009 3:58am Nov 20, 2009 3:58am
Hi Rastaman
very nice trade , good discipline .
There is one point which may be of interesting discussion .
You entered at E1 which is an "early" and aggressive yet perfectly correct entry IMHO
I have entered at E2.
At E1 price may fail to break the previous low (E2).
Each entry has their pro and con
Would like to hear your opinion , TAH , dday ...
After TP1 do you leave SL at BE without any trail ? w/o locking more profits ?
Distance between DS1 & mS2 is 35 pips
I took "only" 31 pips from this trade
David
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  • #7,784
  • Nov 20, 2009 4:00am Nov 20, 2009 4:00am
If anyone is still in this GU trade, I don't like these small candles.
It may go lower, but I would not take the chance.
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Starting to see instead of just looking.
  • #7,785
  • Nov 20, 2009 4:55am Nov 20, 2009 4:55am
very strong downtrend ...
price stopped for a while around ms2 , so I took the continuation to DS2
for an other 24 pips
6558-6534
David
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  • #7,786
  • Nov 20, 2009 5:21am Nov 20, 2009 5:21am
We are very close to the 261% Ext of the previous swing ...
in addition ... DS2 , ws1... & lower SHI channel ... no momentum
BUT price can do everything ....
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  • #7,787
  • Nov 20, 2009 6:57am Nov 20, 2009 6:57am
Almost hit DS3 for 170 pips.
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Starting to see instead of just looking.
  • #7,788
  • Nov 20, 2009 8:25am Nov 20, 2009 8:25am
is just such a beautiful thing when things go the way you think...


P.s How do u set the FE tool so it goes past 161.8 level, i feel the tool given dosnt allow for enough expasion


Tyler

EDIT: I put this on befor i went to sleep when it was ranging. If i think about it my EP is too close to the channel resistance:/
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  • #7,789
  • Nov 20, 2009 8:31am Nov 20, 2009 8:31am
Double click on Fibo properties
add fibo levels
hope it helps
David

Quoting therka01
is just such a beautiful thing when things go the way you think...


P.s How do u set the FE tool so it goes past 161.8 level, i feel the tool given dosnt allow for enough expasion


Tyler

EDIT: I put this on befor i went to sleep when it was ranging. If i think about it my EP is too close to the channel resistance:/
  • #7,790
  • Nov 20, 2009 11:33am Nov 20, 2009 11:33am
Quoting blackcat2
II just read that FXCM is a scam, it trades against you, etc. I don't know how true it is. I'll be evaluating the IBFX platform since it seems they have MT4 by default where in FXCM is in different account category.
I trade with FXCM and I have for years. If you are new use their micro account - tiuny tiny spreads and very small position sizes available (you can trade for as little as $0.10 (one dime) per pip.

If you are going to commit to learning SonicR, do yourself a favor and do a micro account demo with FXCM. The charting is terrible, but so what? Use an MT4 demo from someone for your charting.
  • #7,791
  • Nov 20, 2009 8:48pm Nov 20, 2009 8:48pm
Question for DD & TAH

Morning

Just looking over the GU trade I took & while it looks like a good trade and I suppose it was at the time, I am wondering if you guys would have stayed in this trade for the long haul. If so, would you be kind enough to explain any mistakes I made in either the entry or the exit. I don't think the entry is a problem, but the exit may have been too early. I suppose they all seem too early after the fact. Perhaps, I should rephrase this, do you think my exit reasons were valid or did I need to sit on my hands a little more?

Thanks in advance
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Starting to see instead of just looking.
  • #7,792
  • Nov 21, 2009 12:18pm Nov 21, 2009 12:18pm
Quoting Rastaman
Looks great TAH, thanks.

You don't happen to have a Spud Fibo later than V 3 do you?
This one gets screwed up when I change TF.
Try _4
Attached File(s)
File Type: mq4 #SpudFibo_v4.mq4   11 KB | 580 downloads
  • #7,793
  • Nov 21, 2009 12:29pm Nov 21, 2009 12:29pm
Quoting Rastaman
I am putting my complete faith in the wave & the 61.8 & 38.2 fibo this wave bounced off.
Rastaman, good call on GU by you!

I cannot tell from your chart where those fib anchors are, and the chart is blurry. Could you post the chart just using the MT4 "save as picture" tool. It makes VERY clear pictures to post....the best I have seen to date. And could you either provide a zoomed out picture so the fib anchors can bee seen, or describe how you set the fib up? Thank you.
  • #7,794
  • Nov 21, 2009 2:32pm Nov 21, 2009 2:32pm
Quoting traderathome
WAVE pattern update. Still no entry signal. Berlin/Frankfurt open has arrived.
And there never was an entry signal given for a "long" trade. I am making this post because there is a lesson to be learned here.

When the Dragon starts to move sideways, and the price starts to oscillate about the Dragon, we know it is only a question of time before there is a breakout. We do not know the direction the breakout will take.

While waiting for a setup, the wise thing to do is to chart preliminary entry areas in BOTH directions, and not just one because you have a "bias" for a move that way! Always think and act in a totally unbiased way, right up until the event takes place. Instead of the first chart, the chart I SHOULD have posted is the second one.....just preliminary Eps in both directions. It should have been that, and nothing else, until the event took place, because doing anything could be doing something that supports one bias or another.

A side note, but pertinant to the point of "we don't know until it takes place, so don't construct a bias!" When the Dragon starts moving sideways and the price starts moving about it, it does not make any difference whether this is all happening above or below either the 89 ema, or the central pivot (DPV). The breakout can be in either direction regardless. And this is easy to confirm by going back and examining previous breakouts. So regarding entry, the focus should be, as always, on the WAVE pattern as it overlays the Dragon......PERIOD.

The SonicR method is really quite easy. It is the human factor that makes it otherwise.
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  • #7,795
  • Nov 21, 2009 4:45pm Nov 21, 2009 4:45pm
Quoting traderathome
The SonicR method is really quite easy. It is the human factor that makes it otherwise.
Every Soniker ought to put that on the post it note beneath Basber's "Be More Picky" motto.
  • #7,796
  • Nov 21, 2009 5:04pm Nov 21, 2009 5:04pm
Quoting Rastaman
Question for DD & TAH

Morning

Just looking over the GU trade I took & while it looks like a good trade and I suppose it was at the time, I am wondering if you guys would have stayed in this trade for the long haul. If so, would you be kind enough to explain any mistakes I made in either the entry or the exit. I don't think the entry is a problem, but the exit may have been too early. I suppose they all seem too early after the fact. Perhaps, I should rephrase this, do you think my exit reasons were valid or did I need to sit on my hands a little...
Your entry was fine, and your exit was fine as a TP1.

I was in the same trade, my EP was 1.6625, my TP1 was 1.6575 and my TP2 was 1.6525.

Why are you worrying yourself about "cci curves"? Do you even know what the CCI is measuring? The most frustrating thing about watching you Rastaman is the unbelievable faith you have in indicators and how little you attention you really grant support and resistance.

CCI is a great indicator. I have good buddy who has been trying to get me to stop using it for years, but it serves a purpose. For our purposes, the CCI is an indicator for the general trend. CCI < 0 (red) trend is down. You were short. What's the problem? Stop trying to make indicators tell you more than they are designed to tell you.

You say you didn;t like the "small bars". For your information, small bars after a large move is usually a sign of consolidation and continuation - in this case, you should have loved those small bars.

And with all due respect to Sonic and TAH, volume is a liar. Volume information in forex is notoriously misleading. Your broker may be showing low voume, while another broker is showing spikes.

And at any rate, Sonikers do not use indicators to manage a trade. Ever. Show me the post where Sonic says to exit a trade because of a "cci curve," or "low volume" or anything of the sort.
  • #7,797
  • Nov 21, 2009 8:53pm Nov 21, 2009 8:53pm
Quoting ddaytrader
Your entry was fine, and your exit was fine as a TP1....


DD

Thanks for the response.

Yes, I know that the CCI is supposed to show trending cycles such as overbought or oversold areas. I was also under the impression that the curving of the CCI in a trend, is a sign of a possible reversal.

I was also under the impression that distinctively small candles after a substantial move were signs of reversal.
Sonic, gave me the "Swing trading" book to read, which also describes small candles or NRD (Narrow Range Day) as a clear sign of reversal. The book says Narrow Range Day candles because it is in perspective of the Daily chart but it also goes on to say that these candles are valid in any time frame.

I agree as you said, that I lend too much weight to these indicators and indeed, not enough to S&R and perhaps trend lines. This I am working on at this very moment. Now if you guys really want to help, a chart of how you typically draw your S&R lines would perhaps, clear things up and point me in the right direction.

Thanks for the input, which has been duly noted.
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Starting to see instead of just looking.
  • #7,798
  • Edited 9:59pm Nov 21, 2009 9:47pm | Edited 9:59pm
Quoting traderathome
Rastaman, good call on GU by you!

I cannot tell from your chart where those fib anchors are, and the chart is blurry. Could you post the chart just using the MT4 "save as picture" tool. It makes VERY clear pictures to post....the best I have seen to date. And could you either provide a zoomed out picture so the fib anchors can bee seen, or describe how you set the fib up? Thank you.

Thanks for the fibo TAH

That fibo was not a standard fibo taken from a recent High-Low.
After you posted the GU Long setup, I decided to measure the pullback of the initial LONG trend from 2009/11/13 H 14:00-16:00, as I was thinking this may also be a retracement. But, then I saw the wave bounce off the 61.8 retrace and then saw it could not break past the 38.2 and gave us a LH & LL. That is when I decided this trade was probably going to go South and indeed the wave showed us the Short trade.

So It was a coincident really, but it looked like a convincing setup.
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Starting to see instead of just looking.
  • #7,799
  • Nov 22, 2009 12:53am Nov 22, 2009 12:53am
dday
Can u pls take a look at my post #7783 ..."Entry point"
"aggressive-early" vs "regular" (I remember a post of u on this point)
On the very first posts I read about waiting for the price to close
above/bellow the dragon ... No "123" pattern required
So I can see at least 3 EP approaches (?) ...(pls correct me If I am wrong)
Can u pls explain how do u set you TP's .
TP1 looks close to Fibo ext 162
TP2 looks bellow DS2
BUT may be you use Extensions :161,200,261 (?)
Tks
David

Quoting ddaytrader
I was in the same trade, my EP was 1.6625, my TP1 was 1.6575 and my TP2 was 1.6525.
  • #7,800
  • Edited 3:29am Nov 22, 2009 3:01am | Edited 3:29am
David

Finished reading the entire book, certainly some interesting stuff in it.


The S&R stuff was helpful but, it doesn't really clear up my using too many lines or too few.

Would you do me a favor and give me your opinion on this USD/CHF chart I have drawn the S&R on?


Sorry to bother you with this, I still feel I need more lines, when I probably shouldn't.

Thanks in advance.
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Starting to see instead of just looking.
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