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Sonic R. System

  • #12,081
  • Apr 21, 2010 7:00am Apr 21, 2010 7:00am
Quoting DanPa
well, are you a serios trader or want to try to lose some money?

brief explanation you have in all those 800 pages....an full one in the futures pages....

read all posts since beginning carefully!!!

Read a few pages but its getting a little confusing theres too many indicators and templates posted already, do you have one from which your getting good results?
  • #12,082
  • Apr 21, 2010 7:27am Apr 21, 2010 7:27am
Quoting FXtraderr
Hi Guys can anyone please post up the most recent indicators or templates for this system with a brief explanation on how to trade this method.
Thanks
FXtraderr,

Just keep it simple, do not use too many indicators, I only use the sonic dragon, daily pivots (for profit taking), and an 89 ema (which I could remove, just there because I like it).

Trading the Sonic method with success takes discipline to follow the signals, and patience not to take trades that doesn't fall in SonicR trading rules. And then obviously money management. That's it.

This is what I would suggest you do:

Read a few pages of the thread. Read a lot of posts from sonic, traderathome, rasta, danpa, dd and other regulers I might have forgotten... Take special interest in the setups they have posted on the thread.

Trade the setup for a month or so risking a buck a trade to get the feel, if successfull up your trading size systematically.

Forget about fancy NVO indicators etc till you are adequitely experienced.

Keep it simple, look at Danpa's posts to see what I mean.

The original rules still apply.

Look at waves, the sonic dragon, and trading times.

Be careful to trade at low volume times.

Hope this helps,

regards,

anderou
Thank you j16!
  • #12,083
  • Apr 21, 2010 8:38am Apr 21, 2010 8:38am
Looks like GU is starting to get into the channel.
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Starting to see instead of just looking.
  • #12,084
  • Apr 21, 2010 9:07am Apr 21, 2010 9:07am
Possible Long entry??

Let the trade come to you...It has to be above sonic dragon..


Sonic
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  • #12,085
  • Apr 21, 2010 11:48am Apr 21, 2010 11:48am
Hi

I am sorry for the wiered question. Can u tell how do we know TP and stop loss targets.

Thanks in advance
Make money Not pips
  • #12,086
  • Apr 21, 2010 12:06pm Apr 21, 2010 12:06pm
Quoting anderou
FXtraderr,

Just keep it simple, do not use too many indicators, I only use the sonic dragon, daily pivots (for profit taking), and an 89 ema (which I could remove, just there because I like it).

Trading the Sonic method with success takes discipline to follow the signals, and patience not to take trades that doesn't fall in SonicR trading rules. And then obviously money management. That's it.

This is what I would suggest you do:

Read a few pages of the thread. Read a lot of posts from sonic, traderathome, rasta, danpa, dd and other regulers...

Thanks that gives me a good starter
  • #12,087
  • Edited 12:56pm Apr 21, 2010 12:45pm | Edited 12:56pm
Quoting balle1973
Hi

I am sorry for the wiered question. Can u tell how do we know TP and stop loss targets.

Thanks in advance
I'll take a stab at answering this question.

The idea of course, behind any take profit method, is to take gains out of the trade 1) before you lose them, but 2) not so soon as to miss more.

The difficulty is in knowing when the point has been reached that the trade is more likely to cost you some of your profits than it is to yield more profits. This difficulty is caused by PA oscillations, that can add gains, or quickly take them back. Because these oscillations are irregular and dangerous to your profits to try and predict, what is the answer to the question?

There is no "rule" to answer this question. When to take profits out of a trade is always, and purely, a personal decision. On one extreme, some are willilng to risk all gained in order to stay in a trade they "believe" has a lot more to yield in the way of profits. On the other extreme, some look for the most ideal setups, set a TP well within the daily range and considerate of the most likely close in supports and resistances, and take their gains at the TP they set on the near side of that S or R, regardless of how encouraging the move looks as far as yielding more.

The question of the SL is anwered pretty much in the same manner. Some set it way out there in order to stay in a trade they believe in, but that might exhibit extreme whipsawing. While others, trading only what looks like the best setups, tuck their SL in close.....AND OBEY IT.

I hope this helps you.
  • #12,088
  • Edited 1:15pm Apr 21, 2010 1:04pm | Edited 1:15pm
Quoting balle1973
Hi
I am sorry for the wiered question. Can u tell how do we know TP and stop loss targets.
Thanks in advance
Quoting traderathome
[...] There is no "rule" to answer this question. [...]
I think the SLs and TPs have been pretty much defined throughout the time
in this thread. It might help if we just tell you what is common practice among
Sonicers.

balle, if you see the picture posted by Sonicdeejay, he put TPs a few pips
below resistance, and set his SL below the previous waves. That is what
most Sonicers do, that is what works. Some of them take profit according
to Fibs, and it is as good as any other method as long as it works for them.

EDIT: Thanks TAH
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cut losses short, let profits run.
  • #12,089
  • Apr 21, 2010 1:08pm Apr 21, 2010 1:08pm
Quoting Domas4
I think the SLs and TPs have been pretty much defined throughout the time
in this thread. It might help if we just tell you what is common practice among
Sonicers.

balle, if you see the picture posted by Sonicdeejay, he put TPs a few pips
below resistance, and set his SL below the previous waves. That is what
most Sonicers do, that is what works. Some of them take profit according
to Fibs, and it is as good as any method as long as it works for them.
I think the SLs and TPs have been pretty much defined throughout the time
in this thread. It might help if we just tell what is common practice among
Sonicers.

balle, if you see the picture posted by Sonicdeejay, he put TPs a few pips
below resistance, and set his SL below the previous waves. That is what
most Sonicers do, that is what works. Some of them take profit according
to Fibs, and it is as good as any method as long as it works for them.
Attached Thumbnailshttp://cdn.forexfactory.com/attachme...1&d=1271872982

Great post, Domas4!
  • #12,090
  • Apr 21, 2010 1:09pm Apr 21, 2010 1:09pm
Quoting balle1973
Hi

I am sorry for the wiered question. Can u tell how do we know TP and stop loss targets.

Thanks in advance
hint ,,, look for support lines to set SL and look for resistances lines to set a TP, now if you're aiming TP 100+ with no loss risk like SL 5-, that would be hard because the waves osc. But keep an eye on SR's, also depend of how much you're going to risk if you lose.... and how much you want to take in case you win, just not expect to get $100 bucks out of 0.05 lots, cause most likely you'll burn all your acc with short Sl and large TP...
  • #12,091
  • Apr 21, 2010 1:36pm Apr 21, 2010 1:36pm
Quoting Domas4
I think the SLs and TPs have been pretty much defined throughout the time
in this thread. It might help if we just tell you what is common practice among
Sonicers.

balle, if you see the picture posted by Sonicdeejay, he put TPs a few pips
below resistance, and set his SL below the previous waves. That is what
most Sonicers do, that is what works. Some of them take profit according
to Fibs, and it is as good as any other method as long as it works for them.

EDIT: Thanks TAH

TEACHERS ARE HERE! ssssssTTTTTT......

CONGRATULATION DOMAS4
  • #12,092
  • Apr 21, 2010 1:38pm Apr 21, 2010 1:38pm
UJ Short:

SL 93.38 *
EP 93.12 *
TP 92.66 *
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  • #12,093
  • Apr 21, 2010 2:03pm Apr 21, 2010 2:03pm
Thanks TAH, DanPa.

G/U:
My eyes will be kept on G/U for the next sessions.
Price really seems to be becoming choppy and struggling to go
through resistance.
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cut losses short, let profits run.
  • #12,094
  • Apr 21, 2010 2:12pm Apr 21, 2010 2:12pm
TAH, U/J price (The Low) didn't really close below the dragon did it?
Or at least that is what my broker shows.
cut losses short, let profits run.
  • #12,095
  • Apr 21, 2010 2:25pm Apr 21, 2010 2:25pm
Quoting Domas4
TAH, U/J price (The Low) didn't really close below the dragon did it?
Or at least that is what my broker shows.
The candle that dropped out of the Dragon made a low of 93.12 and closed at 93.13, about 5 pips below the Dragon lower line. Remember, however, the candle did not need to close outside the Dragon to qualify as the "extension" candle that defines the start of the EP zone.

It was the previous candle that dropped out of the Dragon that set the start of the EP zone for my trade.
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  • #12,096
  • Apr 21, 2010 2:28pm Apr 21, 2010 2:28pm
Quoting Domas4
I think the SLs and TPs have been pretty much defined throughout the time
in this thread. It might help if we just tell you what is common practice among
Sonicers.

balle, if you see the picture posted by Sonicdeejay, he put TPs a few pips
below resistance, and set his SL below the previous waves. That is what
most Sonicers do, that is what works. Some of them take profit according
to Fibs, and it is as good as any other method as long as it works for them.
Excellent post, Domas! As good as I have seen here in a while. Simple, straightforward, and easy to put into action!
  • #12,097
  • Apr 21, 2010 3:32pm Apr 21, 2010 3:32pm
Thanks DD, nice to see you in this thread
_____________________________________

TAH, thanks for reminding me that. Just to be sure, are you talking
about this candle's close? Or you are looking at any candle that has
close blow the dragon and take it as an Entry Point ?
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cut losses short, let profits run.
  • #12,098
  • Edited 4:05pm Apr 21, 2010 3:48pm | Edited 4:05pm
Quoting Domas4
Thanks DD, nice to see you in this thread
_____________________________________

TAH, thanks for reminding me that. Just to be sure, are you talking
about this candle's close? Or you are looking at any candle that has
close blow the dragon and take it as an Entry Point ?
Just clarifying that the candle coming out of the Dragon that will be defining the start of EP zone, does not have to close outside of the Dragon. In first chart, the candle closed inside Dragon, but the extremity defined EP for next PA out that side of Dragon (see blue markings). Entry on next PA out was EP = 93.12 (and should be 93.12 plus several pips actually), but run was short lived. All it did was redefine EP for next downward PA (see green markings in second chart).
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  • #12,099
  • Apr 21, 2010 4:04pm Apr 21, 2010 4:04pm
Hm... that's weird. I always thought that the candle defining EP must close below/above the dragon.
cut losses short, let profits run.
  • #12,100
  • Edited 4:29pm Apr 21, 2010 4:10pm | Edited 4:29pm
Quoting Domas4
Hm... that's weird. I always thought that the candle defining EP must close below/above the dragon.
I also picked up that assumption, but later realized it was not supported by Sonic's basic instruction in this method. See post# 12:

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 that candle.
Sell
Look for the candle go below lower white line and wait till the candle ends...and put the "Sell stop" few pips below the "Low" of that candle.

......Notice that Sonic says "candle ends....". He does not say "candle closes....".

I got this chart from post #98, in which Sonic says......

Wait this current candle to finish....

White::Buy Stop 97.47
SL1:: Red
SL2:: Brown 95.9x region (I will chooose this one,as I am bias LONG for now)
Yellow:: Possible overhead resistance ....

All the best....
Sonic

It is clear that Sonic was using a candle that closed near the opposite side of the Dragon as the candle marking EP for the entry he was advising on.
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