Sonic R. System

DD,

Thanks for the well intended reply. I think you may be right as others have also pointed out, just to focus on the core sonic r elements. I do realise that there will always be losing trades and that it is just part of the cost of doing business.
Thanks again for everyone's response regarding the checklist issue.

regards,

anderou

Still in the EU short from Friday, TP1 at 110 pips. SL at BE+.

pre-london movement...

+30 pips.

ep 1.3445
sl 1.3478
tp 1.3400


+25 half stopped out for rest

ep 91.80
sl 92.10
tp1 91.50
tp2 91.00


-33 pips!

Hey folks.

Here is a cute little manual trend line indicator.

It puts 4 trendlines on the chart, you have to move them manually but, you can use 2 for trendlines and the other 2 as price alerts. It alerts you or sends an email when price touches the lines, it also tells you in pips how far price is away from each individual line.

Might be a good way to use on wave breakouts for an early warning.

Could be useful.

Just right click on the 2 purple lines, properties and take the check out of "Ray" resize them and choose line style and you now have 2 S&R lines you can put anywhere and wait till it alerts you of price touching it.

Rastaman, thank you. I' find it useful, especially the alert when Price reaches certain level.

EP 5208
Sl 5259
TP 5150

Glad you like it Domas.
Indicators are ok as long as they do not detract from the system but assist it. LOL

I am wary of using a "line on close" chart as you do here for the M15 as it does not record price extremes, i.e. it shows a close price, which is a moment in time snapshot rather than an ongoing and complete record of high to low to high, etc. However, you overcome the snapshot problem by superimposing the H4 candles, so the line on close may very well work for you here. Let us know how this works out for you.

I notice that TAH and others are now using only the 34ema high and 34 ema low, remocving the 34 ema close from the dragon (at least I think that is what he is doing), and if so, that is a nice way to clean up the chart as well.


How an H4 candle "looks" only matters if you are trading candles rather than levels. Pros trade levels - specifically, support and resistance levels. As such, whether you are looking at an M1 or an H4 or a daily there should be no effect on the trader who is trading price rather than candle shapes. After alll, what is a "hammer" other than the recorded history of what price did after it hit a strong support level? What matters is the level, not the start and end time of the candle. A hammer, doji, or bullish engulfing that forms at support all mean the same thing because what caused price history to form as it does in each case is the level where price is at, not the "candle".

previos trade short i took -45 pips.
let's see this one, long...

ep 5260
sl 5225
tp 5300

I like that..."having balls to cut loss, and trade what u see "
But do not flip the trades all the time..

I try my best not to take 2 losers in a weeks...Once I have 2 loss trades, I am out for the week...

Sonic

Sound as a good advice, but cannot hold myself! Also, if i lose 2 times in a row on one pair i dont trade it anymore until next verygood looking SonicR appear...i have to say that GU trade i lose was very... courageous!

Also, i trade for living..so, i am aware that sometimes i'll lose some! i am not afraid to lose, i was born to fight !

I agree, Danpa. Have entered long at 1.5200 on pull back to EP. NVO shows pattern familiar of good activity as PA bottoms, then at some point activity momentarily wanes as though no more can be had at the price extremes, and then builds again as price moves opposite (black rectangle).

Ep 123.80
sl 123.34
tp 124.96

+65 pips half position, SL +10..targeting 125.00 then 125.50...we'll see/

EU long:

EP 1.3457
SL 1.3412
TP 1.3525

GU long: Closed at 1.5311 and looking for lower re-entry.
Edit: Re-entered 1.5281.

I like the way, we are heading....


http://cdn.forexfactory.com/attachme...1&d=1271687066


1) We agree and understand that no one can ever achieve 100% win rate. With Sonic R, we will achieve more winners than losers, not 100 %.

2) We use minimal indictors as visual aid to guides us along..Clean chart will make our mind calm and not so mess something like this..

http://cdn.forexfactory.com/attachme...1&d=1271322537


3) We understand the important of S & R, incooperate in our SL/TP target as our money mangement...

Bravo People...and Keep Contributing and Keep growing...



Sonic

GU long re-entry:

H1 - NVO shows trading active at lows and on push up out of lows. PA shows this pull back down to the 1.5280ish (and below) level coincides with S&R area.

M15 - Made several re-entries long averaging ask = 1.5274 and set targets beyond today range limits thinking next leg up might be for at least another 50+ pips, and either stretch todays range beyond average, or run into next session.

EU long trade: Closed with a few pips profit. Concentrating on GU at the moment.