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Sonic R. System

  • #11,961
  • Edited 3:45am Apr 16, 2010 2:57am | Edited 3:45am
Quoting Rastaman
Obviously not one of the reasons was a sonic setup. LoL

With every method I have traded since I started trading FX I try and make a check list for entering trades. What do you guys think about working together and making such a checklist so we have a reference to know we are only taking the best, real, and hopefully most profitable Sonic entries?

Example,

1- could be about checking waves and higher highs etc.
2- could be about having an eye on market volume?
3- about the dragon, the slope of it etc
4- watching upcoming news maybe, like payroll..
5- possibly checking the h4?
6- asian session volatilty..

This is just a quick example that may be a starting point for an idea.

I know not every trade is equal and differs alot from other trades on a regular basis, but just maybe we can get a clear and concise checklist, this could be beneficial to both new and old Sonikers.

Any thoughts is greatly apreciated.

regards,

anderou
Thank you j16!
  • #11,962
  • Apr 16, 2010 6:17am Apr 16, 2010 6:17am
Quoting sonicdeejay
I believe..it is still on..closing the gap..

http://cdn.forexfactory.com/attachme...1&d=1271335538

Sonic
The gap closes..
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  • #11,963
  • Apr 16, 2010 8:02am Apr 16, 2010 8:02am
Now looks like.. big buying on dip going on..

but it is friday and price action doesn't support it..so I give it a miss...


Sonic
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  • #11,964
  • Apr 16, 2010 8:25am Apr 16, 2010 8:25am
Quoting Domas4
G/U: projection. See if it gets triggered.
Quoting Domas4
G/U: only thing that I don't like about it is the bigger waves...
still in the trade..
Waves never lie... watched this sucker and moved SL to BE as soon as price
re-tested the entry.
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cut losses short, let profits run.
  • #11,965
  • Apr 16, 2010 9:08am Apr 16, 2010 9:08am
Quoting traderathome
EJ:

Is it possible the entire 200 pip range is, for the speculators, nothing more than an "off loading ramp"? They would naturally short at the highs, but maybe they are also supporting the lows, encouraging longs to come on board. This would enable them to take on the short side of more positions, albiet at a lower price......all this being done over many sessions. Is this a giant consolidation zone where the speculators are preparing for a major move down?

Yes, this is surmising. But the PA makes you wonder.....is this up and down ranging...
It is starting.......
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  • #11,966
  • Edited 12:33pm Apr 16, 2010 10:15am | Edited 12:33pm
GU:

The five hour run down, on increasing trading activity, from the area of recent highs, smacks as a sell-off. Personally, I am targeting a TP about 150 pips below the current PA for next week (blue line at half number).

Edit: Added second chart. The market is winding down with about a half hour to go. And PA is consolidating in a 25 pip range below the whole number. What with the high activity on the US session drop, this consolidation is imho preparation for more downside rather than any substantial move up. But you never can know for sure. Anyway, my short trade will be held over the weekend.
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  • #11,967
  • Apr 16, 2010 11:59am Apr 16, 2010 11:59am
Quoting sonicdeejay
1. Nice Trading time periods, that have major movement.... UK is the main centre of Forex and UK/US session overlap has a lot of movement too....

Trading Time
1AM - 4 AM EST (UK session)
7AM - 11 AM EST (US session)



4. We do not buy/sell on the break on the line immediately. Wait till that break-thru candle close. and we put buy stop/sell stop few pips above or below it...

Buy
Look for the candle go above upper white line and wait till the candle ends...and put the "Buy stop" few pips above the "High" of...
Apart from these, we also need to see there are L H HL (for long position ) ,right??
  • #11,968
  • Apr 16, 2010 1:53pm Apr 16, 2010 1:53pm
Quoting traderathome
GU:

The five hour run down, on increasing trading activity, from the area of recent highs, smacks as a sell-off. Personally, I am targeting a TP about 150 pips below the current PA for next week (blue line at half number).

Edit: Added second chart. The market is winding down with about a half hour to go. And PA is consolidating in a 25 pip range below the whole number. What with the high activity on the US session drop, this consolidation is imho preparation for more downside rather than any substantial move up. But you never can know for sure....
DEAR traderathome

THANKS FOR YOUR GREAT Effort ..

COULD YOU POST YOUR LATEST TEMPLATE & INDICATORS

THANKS AGAIN
  • #11,969
  • Apr 18, 2010 2:32am Apr 18, 2010 2:32am
Quoting Ziko
DEAR traderathome

THANKS FOR YOUR GREAT Effort ..

COULD YOU POST YOUR LATEST TEMPLATE & INDICATORS

THANKS AGAIN
TAH,,The fan has spoken...
Can help him out??

Sonic
  • #11,970
  • Apr 18, 2010 11:11am Apr 18, 2010 11:11am
Trying to invent new Sonic look for my charts.

Beta concept:
Pure M15 PA, and H4 candles.

Any comments?
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cut losses short, let profits run.
  • #11,971
  • Apr 18, 2010 2:26pm Apr 18, 2010 2:26pm
Quoting traderathome
GU:

The five hour run down, on increasing trading activity, from the area of recent highs, smacks as a sell-off. Personally, I am targeting a TP about 150 pips below the current PA for next week (blue line at half number).

Edit: Added second chart. The market is winding down with about a half hour to go. And PA is consolidating in a 25 pip range below the whole number. What with the high activity on the US session drop, this consolidation is imho preparation for more downside rather than any substantial move up. But you never can know for sure....
GU:

This 100+ pip gap down makes it tempting to just take profits instead of holding out for the next lower half number, but new SL is in place so I'll continue the trade.

You know, this is just like last week, only this week the gaps are down! Last week EU had a big gap up, GU had a small gap up. This week EU has a small gap down, GU has the large gap down. Wierd.
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  • #11,972
  • Apr 18, 2010 2:40pm Apr 18, 2010 2:40pm
Quoting Domas4
Trying to invent new Sonic look for my charts.

Beta concept:
Pure M15 PA, and H4 candles.

Any comments?
Yes, Of all the higher time frame candles, H4 is definately the worst to pick. I know SonicR is predicated on there being a "reason to look for an M15 SonicR setup" shown on a higher timeframe candle, but of all the higher time frame candles, H4 is the one candle that WILL NOT BE looking the same on traders charts. That being, of course, because how the H4 candle looks for a trader will depend on whether the trader's platform server is in the GMT time zone, or some other.

It is an interesting concept, though.

The only other thing I see as a drawback is that using a price line instead of candles for the M15 PA will mean you may miss the pullback into the Dragon signal that validates the previous extension out of the Dragon, because the price line is based only on one of the OHLC parameters of the candles, usually the close.
  • #11,973
  • Apr 18, 2010 3:07pm Apr 18, 2010 3:07pm
Quoting anderou
With every method I have traded since I started trading FX I try and make a check list for entering trades. What do you guys think about working together and making such a checklist so we have a reference to know we are only taking the best, real, and hopefully most profitable Sonic entries?

Example,

1- could be about checking waves and higher highs etc.
2- could be about having an eye on market volume?
3- about the dragon, the slope of it etc
4- watching upcoming news maybe, like payroll..
5- possibly checking the h4?
6- asian session volatilty.....
Hi Anderou,

I just check Waves, S&R and volume for sonicR entry. nothing less, nothing more ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #11,974
  • Edited 5:03pm Apr 18, 2010 4:15pm | Edited 5:03pm
Quoting sonicdeejay
TAH,,The fan has spoken...
Can help him out??

Sonic
Definately "Yes". But there is one indy I just recoded and need field testing time.

There are seven indys shown on my current charts:

1. Market Panel wRange Lines - places market data in upper left corner of chart. User needs to turn off the MT4 OHLC line that is normally there. The period for the range is adjustable by the user. The calculation will automatically exclude brief Sundays that some brokers have and substitute additional full trading days. Based on the range number, optional RgH and RgL lines can be shown on the chart. They will self-adjust during the session as new highs/lows are reached....the RgH always being the range above LOD, the RgL always being the range below HOD. Their purpose is to help trader set intra-day TPs that are reasonable.

2. Market Panel Clock - places beside the Market Panel, a clock panel showing the time at key locations that change color when the market opens. This is the latest P4L code stripped down to just what is essential to support this simple display. This clock is just one way to keep abreast of when key markets are open, focusing on the London and US markets, of course.

3. Market Open Times - just recoded and places vlines at the times when markets open at key locations. In addition to showing the vlines for the current session, the user can have them shown for any number of past sessions too. The coding problem here was that one kind of coding easily enables display of past sessions, but will not display in advance the vlines for the current session. The code that will, I could not get to do reliably the past sessions. The recode is a mix of the two, and needs field testing. These time vlines are another way to see on the chart when a key market open is coming up, focusing on the London and US opens, of course. These vlines for previous sessions can help you see what various markets did with the PA last/recently.

4. Levels x8 - This is already recently posted. Personally my feeling is that a break down of the range of 100 pips, whole number to whole number, into eighths is more consistently reliable than any other form of pivots. It does not need "recalculations" from day to day, and is time zone "universal"!

5. SonicR Dragon Combo - This does the Dragon, Trend line (89 ema), and a DEVIATION label. For the Dragon there is an AutoAdjust feature for a user choice of range of TFs, which changes the period automatically for those TFs so the Dragon displays at the same prices. The DEVIATION label shows the difference between the current price and the Dragon center line if the price is inside the Dragon. It shows the difference between the current price and the Dragon H/L line if the price is beyond the Dragon. It might help avoid entries that are maybe too late.

6. FFCal Headlines - This is FFCal stripped down as much as possible. It only shows IMPACT high and medium events, and when there are no further events in the cheque. Each catagory can have a user choice of color. Knowing when an event is to happen is far, far more important than knowing any pre-published content information (which, imho, is worthless), and can help a trader maybe stay out of a trade when being in one could be too risky.

7. NVO Histogram - This is already posted. Personally (and still experimental), I have upped the period to 8 days (768) to desensitize from recent/current periods of lulls/extremes.

If all goes well, then perhaps these indicators and template can be posted next weekend in time to prepare for the following week. Meanwhile, it would be nice to get feedback if the white template is satifactory, or if some would want a black template. Personally, while black has some pizazz, it does not show well in posts. Lets have some comments on this.
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  • #11,975
  • Apr 18, 2010 5:09pm Apr 18, 2010 5:09pm
Quoting Basber
Hi DD,

I don't you that you'll read this post or not, but I'm going to say it

I believe the goal is much more important than the path ... and if your goal is to help traders in anyway that you can, why does it matter what reflections you get from the others while you know what you're doing ?
The goal was to help others while having fun doing so. There can be no enjoyment and fun here for me so long as I have to put up with those types of "reflections."
  • #11,976
  • Edited 5:49pm Apr 18, 2010 5:20pm | Edited 5:49pm
Quoting Rastaman
Now, DD discovers a new way of plotting S&R. What a joke!

Muhamad has learned a little about PPZ from the J16 thread and DD thinks it is something new. LoL

If DD paid more attention to other kinds of systematic analysis and less time in urinating on those that make the effort to study them, he would have known about PPZ years ago.
All I said is that I was showing what was new to my trading, not new to trading in general. There is nothing new in trading. J16 teaches nothing new. Sonic teaches nothing new. All the kings horses and all the king's men teach nothing new. What works today has worked for thousands of years and will continue to work so long as people are people. And what works best is basic and simple.

There are thousands of worthless posts in this thread. I think new Sonikers can find a lot of worthwhile stuff in my posts as well as Muhammad's (among others, of course, e.g. Sonic, Domas, and many of TAH's except for those in which he talks about his "Big Boys" manipulation theories, and most recently DanPa's). Those posts will set them on the right path.

I think Muhammad's progress recorded here in this thread is invaluable, and offers a most excellent example of someone setting out to learn this method from Newbie to SonicExpert.
  • #11,977
  • Apr 18, 2010 5:31pm Apr 18, 2010 5:31pm
Quoting Domas4
Definitely Danpa; he did not wander between indicators, did not mess up
his charts and analysis. He just took the core concepts, focused on it and now he is bagging pips. He is not working for the system, the system is working for him.

Way to go Danpa
I would add DanPa's posts as recommended reading for new Sonikers. He, like Muhammad, took the system at face value and worked not on the system but instead worked on themselves - learning to recognize and have faith in the set-ups. That is the difference between a trader who puts up a few hundred valuable posts while building a record of success, and someone who wants to be a trader but instead manages only to put up a couple of of thousand worthless posts while getting nowhere.

I agree with TAH - this post of Domas's describing Danpa's discipline is excellent, and it is now on a Post-it note beside my monitor, and a print out is in my Sonic Scrap Book.
  • #11,978
  • Apr 18, 2010 5:45pm Apr 18, 2010 5:45pm
GU:

Still in this trade, moved SL up on chart when price became aggressive upwards (SL is mental when at computer), believing this will go lower. It is interesting that the timeframe of highest activity is that of the highest price (black rectangles). One way of analyzing this is to conclude traders came in strongest when the price got to the highs they wanted....."Buy low, sell high." Doesn't mean price cannot go higher, but can indicate traders are favoring spots to short at, in preparation for a later run down. Warning: Speculation!
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  • #11,979
  • Apr 18, 2010 6:02pm Apr 18, 2010 6:02pm
Quoting anderou
With every method I have traded since I started trading FX I try and make a check list for entering trades ... so we have a reference to know we are only taking the best, real, and hopefully most profitable Sonic entries?
emphasis added by DD


Quoting Basber
Hi Anderou,

I just check Waves, S&R and volume for sonicR entry. nothing less, nothing more ...

Regards,
Basber
"Check lists," as you note in your post, are based on the desire to take only winning trades and not suffer losses. You may not agree, but trust me, that is the only reason people are tempted to compose checklists is to try to out smart the market and only win while avoiding all losses.

Such checklists are misguided. You cannot avoid losses, and any check list comprehensive enough to exclude the losses will by definition exclude the winners as well. That is, the only way to be certain not to lose is to stop trading.

I suggest that you take Basber's post to heart, and focus on waves, S&R, and volume. I myself have not used volume, but that does not mean it is not valuable. As Domas recently said, some Sonikers find volume useful and others do not. The point is this - learn the core of the system. That is the only "checklist" you need. Otherwise, your money management - a hard stop loss with profit targets at least equal to and preferably twice your stop size and you will do fine.
  • #11,980
  • Apr 18, 2010 8:50pm Apr 18, 2010 8:50pm
GU short trade:

Closed at TP1 (half number). Yes, price may continue to drop. But with the large gap down, it is also likely price will be worked up so that Frankfurt and London open traders can short at higher prices, expecially if this is to make another leg down later in the session. Not sure where that will leave the US traders, unless the price is worked up for F, L and kept up until US get in. Warning: Speculation!

If price just continues on down, so what. I have already a nicely profitable completed trade (160+ pips). But if price is worked back up, I can re-enter higher for another leg down.
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