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Sonic R. System

  • #10,981
  • Mar 16, 2010 11:03am Mar 16, 2010 11:03am
Quoting Rastaman
What percentage of your account are you risking on each trade?
5% for EU 7-8% on EJ & GU so thinking to bring this to 4-5% by reducing the lot size to half my mt4 broker allows micro lots.. so average be around 5% for the 3 pairs i am trading (spread is EU 3, GU & EJ 4)
  • #10,982
  • Mar 16, 2010 11:13am Mar 16, 2010 11:13am
Would be good an nice retracements @ 50% fib...5090!

WHAT A DAY!

ps: still cannot let it go! ufffffff
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  • #10,983
  • Mar 16, 2010 11:34am Mar 16, 2010 11:34am
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.

Basber & TAH any thoughts on how to correct this?

.
Hi Rastaman,

I believe that the reason of this behaviour is not that important. The important thing, as you mentioned, is how you can control it. There may be several reasons for doing this, you may find it or you may not. It may be the eagerness to be on the right side, or as DP said, it may be fear or etc.

It may take you 1 day to correct this attitude, or it may take months !! But weakness of many many traders who have a profitable method that they can trade, is that they don't trust it. They want to make it better. More profitable. I'm feeling that you have lack of trust in yourself and SonicR. you want to make it safer, better. But as you see, you're ruining it with this kind of conservativeness.

Try this ... just trade when sonicR gives you A GOOD entry. If you saw a good wave, just enter few pips above the signal candle. don't wait for any more confirmations, because when this method developed, it had it's confirmations, why do we need to add some more tools to prevent losses ? it's already profitable. After you get used to it, and when you are profitable for few months, then you can BE MORE PICKY with your entries, but even then, you can't bend your rules, still you should enter where you entered before. but you can be more selective about setups.

Forget about the reason. Work on your trust ... Many of us if see bottom of our heart honestly, we see that we still have doubts about this method, even if we were profitable with it. Still some of us will hasitate when we see a setup ...

Just my 2 cents

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #10,984
  • Mar 16, 2010 11:38am Mar 16, 2010 11:38am
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...
Very good trade on E/U, but I don't see a valid SonicR entry on G/U. It seems you just egnored the bearish move before your entry. I don't like it, though it was a winner trade. so just congates on E/U


Quoting ravin
5% for EU 7-8% on EJ & GU so thinking to bring this to 4-5% by reducing the lot size to half my mt4 broker allows micro lots.. so average be around 5% for the 3 pairs i am trading (spread is EU 3, GU & EJ 4)
Your risk is too high. try to reduce it to 1% to 2% for the level that you're in. After you was profitable for at least one year, you can risk more. but not now.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #10,985
  • Mar 16, 2010 11:48am Mar 16, 2010 11:48am
Quoting DanPa
Would be good an nice retracements @ 50% fib...5090!

WHAT A DAY!

ps: still cannot let it go! ufffffff
Don't let it go. Just be aware that what happened to you when you wanted to see what you think will happen. Was it good for you ? or was it bad ? Your awareness will help you to grow much more faster.

An attitude that you have when your are trading, is not a mechine that you can press the "off" botton and it will shut down. It needs to be worked on it to make it better. Just see at your experiences and write the pros and cons about your behaviour. Human's mind is very powerful, you can't just let some things go that easy (some of them are easy, but not all !). but I experienced that looking through experiences and learning from them, is the best way to fight our ego.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #10,986
  • Mar 16, 2010 11:59am Mar 16, 2010 11:59am
Quoting Basber
Don't let it go. Just be aware that what happened to you when you wanted to see what you think will happen. Was it good for you ? or was it bad ? Your awareness will help you to grow much more faster.

An attitude that you have when your are trading, is not a mechine that you can press the "off" botton and it will shut down. It needs to be worked on it to make it better. Just see at your experiences and write the pros and cons about your behaviour. Human's mind is very powerful, you can't just let some things go that easy (some of them are easy,...
MAN, too bad that you are not here more often...you are wierd (in a good way)...just like an psychologist !

I really apreciate your comments! all of them! congratz!

DanPa
  • #10,987
  • Edited 1:32pm Mar 16, 2010 12:02pm | Edited 1:32pm
I know is off topic...but...like i said..cannot let it go!!!

EP1.5197
SL 1.5222
TP1.5090
TP2 1.5019 (...FOMC)
TP3 1.4890 (...FOMC)

PS/ if anyone consider that should not be posted here, i can delete this post without a problem!

-25 ouch sorry sonicR
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  • #10,988
  • Mar 16, 2010 1:33pm Mar 16, 2010 1:33pm
Quoting snusnufreak
Hi Sonikers.

I'm short on GU as per attached chart. Long Term I'm expecting it to go all the way to 1.4830 area according to my analysis.

EP 1.5035
SL 1.5070
TP1 1.4970
TP2 1.4900

Thx
Snu.
Managed to get out with +50, second lot closed @ +6 pips. Cable is doing some weird stuff these days. But market is market. Too bad i missed the move up.
  • #10,989
  • Edited 2:11pm Mar 16, 2010 1:59pm | Edited 2:11pm
Quoting DanPa
I know is off topic...but...like i said..cannot let it go!!!

EP1.5197
SL 1.5222
TP1.5090
TP2 1.5019 (...FOMC)
TP3 1.4890 (...FOMC)

PS/ if anyone consider that should not be posted here, i can delete this post without a problem!

-25 ouch sorry sonicR

You Can Let It Go DP, You Can Let it GO DP, You Can Let It Go DP!
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Starting to see instead of just looking.
  • #10,990
  • Mar 16, 2010 2:10pm Mar 16, 2010 2:10pm
Thanks Basber, you always have such a refreshing and interesting take on these things. Yes, perhaps it is trust. I don't know why it should be but I suppose that is how the human mind works.

I shall work on this! I shall work on this! I shall work on this!
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Starting to see instead of just looking.
  • #10,991
  • Mar 16, 2010 2:34pm Mar 16, 2010 2:34pm
Quoting ravin
5% for EU 7-8% on EJ & GU so thinking to bring this to 4-5% by reducing the lot size to half my mt4 broker allows micro lots.. so average be around 5% for the 3 pairs i am trading (spread is EU 3, GU & EJ 4)

As Basber said risk to the total Equity of the account should be no more than 1-2 % of the equity. Some say even less, the figure of 0.5% was mentioned to me on J16.

7% on one trade will blow your account up in no time. 7% is the golden number, make 10 losses in a row and you have lost 100% of your account!

So, we have to really work out what size of lots we are going to be trading before we fund the account. Otherwise the risk ratio will go through the roof and put us out of business before we know it.

Like it said in that book I posted.

A small shop may stock two crates of olive oil, that is a calculated business risk. If the shop stocked a trailer full of olive oil and did not sell it, the shop may go out of business.
Starting to see instead of just looking.
  • #10,992
  • Mar 16, 2010 3:07pm Mar 16, 2010 3:07pm
I just noticed that GBP/USD has a Large Bullish Outside Bar nearly completed on the daily time frame.

Perhaps tomorrow will see a more clear bullish pattern.
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Starting to see instead of just looking.
  • #10,993
  • Mar 16, 2010 4:45pm Mar 16, 2010 4:45pm
Comments On GU:

Early Tuesday session I posted a H4 chart (first chart), a reminder price might move higher. A short bit of time later, after a 50+ pip price drop, I posted another H4 chart (second chart) indicating that such a move down during the session was not in conflict with the move up, because the "middle" was an area, not a line, and provided for such a PA drop.

But then I made a bad call on NVO. My thinking was, since the drop happened just before LO and the price was being "restored" as LO traders came on-line, that LO traders might dump it also and maybe further, before any turn around in the PA. It was a mistake to allow "bias" to foster conclusions. Yes, there was strong trading on the pump up at LO, which tapered off as price continued back to where FO torpedoed it, and then increased trading activity again as the price was restored. But, while this could happen in preparation for another dump, it could also be that the FO traders torpedoed it for heavy buying at the lows, and the heavy trading pump as LO came on board was also genuine buying. And the return of good trading when the price was restored to previous highs could be continued genuine buying interest. The later was the case! NVO said there was trading activity. My bias fostered an incorrect interpretation. The third chart below shows subsequent PA!

The lesson here is that the SonicR method does not need "bias or interpretation". NVO clearly showed there was a dramatic increase in trading. The right thing to have done was to simply wait and see what SonicR would later show us. From the last chart (chart 4) SonicR, all by itself, clearly signaled the EP area for a long trade after price returned to previous highs and consolidated for a bit of time. And the move up was fantastic!

I have taken the time to make this post due to the lesson here. Time and again there is evidence, such as this, to show us all that the SonicR method works. It works exceedingly well. And it will work best for each of us if we can avoid bias and interpretation.

Good trading to all!
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  • #10,994
  • Mar 16, 2010 5:19pm Mar 16, 2010 5:19pm
Quoting traderathome
Comments On GU:
From the last chart (chart 4) SonicR, all by itself, clearly signaled the EP area for a long trade after price returned to previous highs and consolidated for a bit of time. And the move up was fantastic!
Please TAH, explain how come that was an good EP for sonicR! i dont see an L-H HL-HH...even if i see clearly now what are you saying!

But i still dont understand your EP here...please help!! i saw many times when the market do such turns, and it will help me in future!

Regards,
DanPA
  • #10,995
  • Mar 16, 2010 5:20pm Mar 16, 2010 5:20pm
GU And PA, Pivots And FEs:

I wish I had started this post earlier, because now the Wednesday pivots are on charts. The Tuesday session pivots are gone, so I cannot provide supporting charts as I'd like to.

I was prompted to write this post when I noted that the GU whipsaw run terminated at a place totally out of sync with pivots based on either the Daily or the Fibonacci Formula! Using pivots as a guage for TPs completely missed the mark.

After some doodling on the charts, I came up with the attached chart. I am using an H1 chart to illustrate a point because it brings in enough data to create a good perspective of the PA. After applying FEs to swings on the M15, changing FEs to encompass bigger and bigger waves, I finally found the wave that mattered. And it appears so clearly on this H1 chart!

Price went to the FE 79% level, a level apart from all pivots, including weekly and monthly pivots! And, now that we are on a clear chart, where the move can be unobstructively viewed, look where that FE 79% level intersects past PA (thick blue line).....a relatively level consolidation area (= prime target).

In the case of this GU move, the FE tool together with a broader perspective of the PA WAVEs yielded the correct results, not pivots. Yet, many times pivots work fine, too. It all comes back to historic PA.

The lesson here is that the key ingrediant in the SonicR method is PA....PA waves in the vacinity of the Dragon, and PA history of S&R and consolidation areas.

Good trading to all!
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  • #10,996
  • Mar 16, 2010 6:34pm Mar 16, 2010 6:34pm
Quoting DanPa
Please TAH, explain how come that was an good EP for sonicR! i dont see an L-H HL-HH...even if i see clearly now what are you saying!

But i still dont understand your EP here...please help!! i saw many times when the market do such turns, and it will help me in future!

Regards,
DanPA
Hi, DanPa! Condense your chart to take in more data, like the first attached M15 chart, and look at the bigger picture. Sometimes we become so focused on what is happening with the immediate PA about the Dragon, we miss seeing that PA as just a small part of the bigger picture.

This case is a good example. We were viewing PA about the Dragon as pretty much flat, as shown in the rectangle in the second M15 chart, and not seeing any decent WAVE. But, as we see from the first chart, there really was a decent WAVE. Our perspective was "too close to the trees to see the forest!"
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  • #10,997
  • Mar 16, 2010 10:36pm Mar 16, 2010 10:36pm
TAH, so according to this macro view, our EP on this wave setup is ready to be entered?

When do we know to switch back to the normal view of the waves?
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Starting to see instead of just looking.
  • #10,998
  • Mar 16, 2010 11:11pm Mar 16, 2010 11:11pm
Quoting Basber
Very good trade on E/U, but I don't see a valid SonicR entry on G/U. It seems you just egnored the bearish move before your entry. I don't like it, though it was a winner trade. so just congates on E/U




Your risk is too high. try to reduce it to 1% to 2% for the level that you're in. After you was profitable for at least one year, you can risk more. but not now.

Regards,
Basber
Thanks Basber,

so nice of sonikers in this thread advising a newbies to this system about important lessons regarding RR & not to get overwhelmed by the fact i had few good trades.
Need all this advises coming from the seniors and professionals to continue in the future too.
I would humbly accept all those good and sincere tips to correct myself.
I will trade with micro lots, from now onwards. so that i wanna be in that
5% group of FX who succeeds in this market.
  • #10,999
  • Mar 16, 2010 11:14pm Mar 16, 2010 11:14pm
I found i missed 2 good entries on USDCHF and USDCAD yesterday. all those sonic waves were confirmed at different times like 15mts-30mts apart.
I was more engrossed on the 3 pairs i traded.(EJ,EU & GU)

so i included the 2 charts.
Thats it i will look for these 5 pairs for confirmations of each other trades.
  • #11,000
  • Mar 16, 2010 11:14pm Mar 16, 2010 11:14pm
Quoting Rastaman
TAH, so according to this macro view, our EP on this wave setup is ready to be entered?

When do we know to switch back to the normal view of the waves?
No. Even on the larger view of waves, we still do abide by the Dragon. I put yellow area marking better EP.

For PA exiting Dragon and passing last H or L out of Dragon, whether on H1, M30 or M15, we pretty much see the same picture and price area for EP. But the charts with more data give better picture sometimes of the WAVE that really matters in conjuction with the PA breaking free of the Dragon.
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