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Sonic R. System

  • #10,961
  • Edited 2:31am Mar 16, 2010 2:04am | Edited 2:31am
Sorry, yes T, you are correct, it was Friday's High.


EDIT: Moved SL to 90.25 just in case, and to reduce my risk as I got in late.
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  • #10,962
  • Mar 16, 2010 2:47am Mar 16, 2010 2:47am
Moved SL to 90.29 just in case the PPZ at 90.45 does not hold.

Looks like the bears are able to apply less volume.
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  • #10,963
  • Mar 16, 2010 2:52am Mar 16, 2010 2:52am
What are you thinking about this? [IMG]1.jpg[/IMG]
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  • #10,964
  • Mar 16, 2010 3:03am Mar 16, 2010 3:03am
TP1 and BE+
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  • #10,965
  • Mar 16, 2010 3:03am Mar 16, 2010 3:03am
Quoting traderathome
GU:

The Frankfurt traders drove it down hard before London came on line....
TAH, what do you think about cable? about this crazy cable?
  • #10,966
  • Edited 4:00am Mar 16, 2010 3:26am | Edited 4:00am
EDIT: Ooops I meant the 50 fibo.
Now, If I had not entered late, I could have done much better with the SL.
Entering late is really messing things up and making it much harder to manage a trade.
I was 11 pips late entering this trade.
Now we have triple top.90.64



Will this PPZ hold.
If it is going to breakout, I think the PPZ at 90.56 and 50 fibo will hold through his retracement.
If it doesn't, too bad.
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  • #10,967
  • Mar 16, 2010 3:59am Mar 16, 2010 3:59am
this is the way i see things!

on h4, it is possible to go down till 1.4830 area .

on m15, if will break 1.4970 then i will enter short with TP 1.4830

but we will wait and see !

(i dont know why i am so stuck with this cable anymore...)

TAH? RASTAMAN? BASBER...any thoughts?
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  • #10,968
  • Edited 4:07am Mar 16, 2010 4:04am | Edited 4:07am
Quoting Rastaman
Will this PPZ hold.
If it is going to breakout, I think the PPZ and 38.2 fibo will hold through his retracement.
If it doesn't, too bad.
GBPUSD:

My stance: volatility continues. Sharp rally seen this morning at 1.4977 broken back the shorts (squeezed) and price above 1.5088 resistance to hit the stops at 1.5100 (round number).

My view is: Shorts will start again at 1.5275-1.5300. A 3rd pull-back is however not excluded , but the 4h fibs plead in favor of a 48 hrs rise now.

How about EURUSD?

Best regards to all of you guys.

Claude
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  • #10,969
  • Mar 16, 2010 4:06am Mar 16, 2010 4:06am
I am out, 4 tops are too much for me.
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  • #10,970
  • Edited 6:05am Mar 16, 2010 4:16am | Edited 6:05am
Quoting DanPa
this is the way i see things!

on h4, it is possible to go down till 1.4830 area .

on m15, if will break 1.4970 then i will enter short with TP 1.4830

but we will wait and see !

(i dont know why i am so stuck with this cable anymore...)

TAH? RASTAMAN? BASBER...any thoughts?

I think I know why you are stuck with it DP.

Ask yourself this honestly, "could I possibly be chasing this trade because I missed the action earlier" !

This is a very important factor.

Just let it go, don't try to catch a falling knife.



I actually, just tried to catch a serrated bread knife in the kitchen as my wife dropped it, the serrated edge touched my thumb and I instantly thought of this phrase and dropped it. I was unscathed.


Edit: If you read my post earlier I made about this GU trade when it broke out, I mentioned that, I did not like to short this as I saw no retracement after it broke the PPZ at 1.5015 This may just be me but, I did not like this trade, if it had broke the 1.5015 then retested it before going down, I would probably have taken it.

Look what it is doing now, and I hope it is either going up with you LONG or not in it at all.
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  • #10,971
  • Mar 16, 2010 5:38am Mar 16, 2010 5:38am
Quoting Rastaman
I think I know why you are stuck with it DP.

Ask yourself this honestly, "could I possibly be chasing this trade because I missed the action earlier" !

This is a very important factor.

Just let it go, don't try to catch a falling knife.



I actually, just tried to catch a serrated bread knife in the kitchen as my wife dropped it, the serrated edge touched my thumb and I instantly thought of this phrase and dropped it. I was unscathed.


Edit: If you read my post earlier I made about this GU trade when it broke out, I mentioned that, I did...
RIGHT R, maybe i have to let it go! falling knife...cool!
  • #10,972
  • Mar 16, 2010 7:30am Mar 16, 2010 7:30am
I am really starting to get annoyed with myself because of these late entry points I keep making. I am trying to work out the reason I am doing this.
Entering late may feel like a safer entry as price will already have moved in the desired direction more. However, after some thought on this, it is not safer at all, it is actually more dangerous because 1: The SL becomes wider so if something goes wrong and price turns around we will lose more money.
2: Entering late also prevents me from moving my SL to BE+ until much later in the trade and then I will be exposing more of the profit to a possible loss.
3: There is greater chance of the SL being hit after it has been moved to BE+ this again will also start to deplete any possible profits by kicking us out of a trade when it may be advisable to stay in a little longer.

A Long time ago I asked TAH about his entry before a PPZ or pivot and if I remember correctly, he seemed to it was ok to enter below a pivot if the wave setup was good. Was this case T?

Basber & TAH any thoughts on how to correct this?


EDIT: The reason TP2 is below TP1 on the chart is because we had three candles with the same high and this was not broken in 30 mins after the retrace from TP1 at 90.68. I just figured it was not going to make it back up and I exited the trade through common sense and the PA.
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  • #10,973
  • Mar 16, 2010 7:51am Mar 16, 2010 7:51am
Quoting Rastaman
I am really starting to get annoyed with myself because of these late entry points I keep making. I am trying to work out the reason I am doing this.
Entering late may feel like a safer entry as price will already have moved in the desired direction more. However, after some thought on this, it is not safer at all, it is actually more dangerous because 1: The SL becomes wider so if something goes wrong and price turns around we will lose more money.
2: Entering late also prevents me from moving my SL to BE+ until much later in the trade and then...

90.35 would be my EP in this case! i can see you enter a little late in some trades...the reason would be because you are a little afraid?! dont know..
i am not an expert, but i know you have to act without fear when you recognize your pattern!

All the best,
DanPa
  • #10,974
  • Mar 16, 2010 7:53am Mar 16, 2010 7:53am
Quoting DanPa
90.35 would be my EP in this case! i can see you enter a little late in some trades...the reason would be because you are a little afraid?! dont know..
i am not an expert, but i know you have to act without fear when you recognize your pattern!

All the best,
DanPa
It may be fear or it may be needing more confirmation, I am just trying to work out which it is. If it is needing more confirmation, there are ways around this. PS: One would think one would be more fearful to enter right below the pivot as I did.

Maybe I should just take the pivots off completely!!


Thanks for the input D.
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  • #10,975
  • Mar 16, 2010 8:08am Mar 16, 2010 8:08am
Quoting ravin
Hello good morning to all...

I made long entry for EU as follows
EP 3689
SL 3635
TP 3748


MY TP on EU & GU hit (First the GU then little while ago the EU BUT Demo but i was so much treating as Real money...
  • #10,976
  • Mar 16, 2010 8:21am Mar 16, 2010 8:21am
Here are the charts....I was holding my nerves when Rasta made a remark.as i entered below the Pivot level around .3700 for EU...

I will post my EJ trade as well though i closed it early but i regret now but profit is profit
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  • #10,977
  • Mar 16, 2010 8:26am Mar 16, 2010 8:26am
Quoting ravin
MY TP on EU & GU hit (First the GU then little while ago the EU BUT Demo but i was so much treating as Real money...
Well, that is exactly how you should treat demo, same equity as you plan on opening a real account with, if the equity is bigger, this will not get help you that much when you do trade live.

Good job
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  • #10,978
  • Mar 16, 2010 8:30am Mar 16, 2010 8:30am
Feeling good when we find out the our trade is hit with TP and closed But when do i get to trade with real money. wanna start full time in a month or so.

My mistake was on EJ pull the trigger too early...Like Rasta says (I need to see things instead looking) i need to work on holding my nerves together...
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  • #10,979
  • Mar 16, 2010 8:37am Mar 16, 2010 8:37am
Quoting ravin
Feeling good when we find out the our trade is hit with TP and closed But when do i get to trade with real money. wanna start full time in a month or so.

My mistake was on EJ pull the trigger too early...Like Rasta says (I need to see things instead looking) i need to work on holding my nerves together...
What percentage of your account are you risking on each trade?
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  • #10,980
  • Mar 16, 2010 8:53am Mar 16, 2010 8:53am
Closed EU too damn early ...but GU ..

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