Sonic R. System

Hi traderathome,

with the new templete,how is the TP is decided.I most of the times see that you have TP1 and TP2.Can you share how do you arrive at.

thanks

Setting Your Market Hours:

Sonikers, it is important that your span of approved trading hours is correctly displayed. Put EU on the chart and it should look like the attached. Note that the "L" line runs down just to the left of the group of candles boxed in yellow.

If your London line is further to the left than shown, you need to shift the vlines to the right. Do so by increasing the number input for MktOpen_vLines_Server_GMToffset.

If your London line is further to the right than shown, you need to shift the vlines to the left. Do so by decreasing the number input for MktOpen_vLines_Server_GMToffset. You can use negative numbers here, if necessary.

Sonicdeejay and Domas4, both of you posted charts with these lines not properly placed. DanPa, your chart is correct.

Once your vLines agree with the attached chart, resave the template. Then you can use the new, resaved template on any pair without further adjustment (until we go off DST). Be sure to immediately apply the corrected template to all your charts so that none of the incorrect charts remain!

Potential setups. The TP and SL are approximate; they will be determined, if
the potential wave will form.

and still TAH, when i am looking at the London opening time it says 10.00o'clock instead of 9.00 am. ?!

"....how is the TP is decided.(?)......"

Aha! THAT, fellow Soniker, is the one of the "secrets" to the success of the SonicR method!

SonicR is about learning to "read" past and current PA.....to discern the WAVE that sets up a trade, and in answer to your question, to discern the S&R areas most likely to have a bearing on your trade. To do this, go to higher TF charts if necessary....zoom out on the M15 chart, for example, to pull in more data and see if you can discern those likely S&R levels. You will find them. And you frequaently will find them at or near to whole and half numbers......which is why I prefer to use the Levels x8 as a background for the chart, instead of using pivots.

Many SonicR setups begin within 2 levels of a whole or half number, and run at least to the next, sometimes to another one, two or three beyond. This yields 25, 75, 125, 175.... pips. Of course, focusing on just the whole and half numbers is like "rounding off" your profits. It can cause you to give up 10, 20, 30 pips out of the trade, because the runs can start a level or two to one side of a whole/half number and not end until it is a level or two on the other side of some other whole/half number.

There are many aids to setting TPs.....Levels x8, pivots, FEs, FRs, etc. But learning to read the past and current PA (where prices reversed) is the most fundamental. And personally, I think the Levels x8 indy is great at helping traders learn to read PA.

Look at the attached chart....at the PA in yellow. It bounced around a half number, but purple lines show the real S&R was one level lower. Look to the right and see where today's run up terminated! Actually, the trade started between a half number and the next qtr number higher, and a good conservative target was the qtr number above the next higher whole number (blue line). It was conservative, but 50+ pips nevertheless.

Hi Domas,

Thanks for your reply.

I am trying to understand the TP rule which was specified in SonicR document.

TP
For Long, few pips below the lower white line when the price touches the lines again
or Use Trail Stop (e.g +40 Pips).
For Short, few pips above the upper white line when the price touches the lines again
or Use Trail Stop (e.g +40 Pips).

Is the above rule still valid for the current system?.

Now i am able to make entries & SL.But TP is big problem for me.Most of the time i come out of the trade very early or leave it to hit my SL.

Pls advise.thanks

DanPa, what your chart is telling you when it says it is 10:00 at that London vLine is that when the London market opens (8:00am London local time) it is 10:00 am your server time. Since London is GMT+1 (now, during DST) and your server is showing that it is two hours advanced from London local time, then your server must be at GMT+3. Correct? I suggest you take China out of the clock (make FALSE) and put UTC/GMT in (change to TRUE).

EU:

Here is updated H4 chart previously posted. At the time, PA looked to have put in a base, and a pullback upwards to the FE 50% level was pondered. However, PA may be rolling over into the down trend again, and so maybe the FE 127% level is more likely now. PA currently appears to be ranging between the FE 79% and 100% levels, and worth keeping an eye on at to which way it eventually breaks.

Edit: My current short trade (M15). Added purple lines to show thoughts on S&R.

Edit: TP reached, trade closed. As you can see from last chart, PA continued down quickly to a level or so below the next lower whole number. My TP was conservative. I did not make those extra 40 pips, but the trade did yield 60. A conservative way to trade SonicR is to not try and squeeze every last pip out of a trade, but instead just cut yourself a prime slice off the roast each time they bring it out from the kitchen.

Great "heads up" Domas4! Your trade is a perfect SonicR trade, from WAVE ID to S&R read, to setting TP. (This cool guy makes it look sooooo..... easy!)

EU and EJ:

Look now at EU H4....certanily now seems the 127% level is quite probable. On the M15, we might look for PA to pull up and re-set for another SonicR short.

The EJ H4 also looks now more like it could drop lower....to 79% FE level. Keeping in mind the Weekly, this would be consistency. Like with EU, on the EJ M15 (not included), we may see a pull up and re-set for another SonicR short.

TAH, I posted my setups because of Danpa and what I saw in his chart:
http://www.forexfactory.com/showpost...ostcount=12500

Danpa was adding to his loosing position, while market was telling otherwise.
Market was showing LowerHighs and LowerLows, Price below the dragon and
so on. Please note that the S&R re-entry was not really S&R either.

So my best guess is that Danpa was long bias'ed, because he already had
long position.

Remember: "Losers Average Losers" - Paul T. Jones
(Do not add to loosing positions)

I see you confused me with TAH (Traderathome).
I suppose it's because we, me and TAH, have the same avatar

TAH, his full post is in the previous thread page.

EJ and EU:

Something going on right now.... PA is moving like Speculators are running stops. If so, then later we may see a long trade setup before a short trade setup.

The bastards are up to something. Long up in asian session and then down in FL session. Just a guess

I was waiting for price to break the ascending channel , so my entry was "late" .
TP1- S/R (50%)
TP2- FE 127% (30%)
TP3- FE 162% (20%)

Correction to Market Panel Display Controller:

Sorry to say I found one line of code that had an error. It only showed up when the session dividers were turned on, so you will likely not have noticed it. Anyway, it is corrected now and the attached file should replace the one you are using. I have already corrected this indicator file in the original zip file, two pages back in this thread.

Please do the following:

1. If you made an input to "vLines_Server_GMToffset" to get the vlines positioned properly, write down that input number somewhere (remember it).
2. Go to your MT4 Program file/experts/indicators.....and delete the Market Panel Display Controller (White).mq4 file.
3. Then download the file attached to this post and paste it into your MT4 Program file/experts/indicators folder.
4. Start up MT4 and everything should be ok with the exception of making again your "vLines_Server_GMToffset" input. You can open the MT4 MetaEditor and make your input right to the indicator compile. Or, you can make your input to the indicator on one of your charts. However you do it, then resave the chart template and then copy the resaved template to all of your charts.

I apologize for any inconvenience.

I was dead wrong..

Sonic

David, nice trade. Congratulations !

You refer to using FE for TPs, but I think you meant "FR". The FE study places two lines on the chart. The FR study uses just the one you showed. BTW, consider how the FR study appears in my chart. You may have used too small a chunk of the uptrend to encompass with your FR study.

I think we all were, Sonicdeejay. Those that surmised "up" were on the wrong side of the tracks, yes. But those that surmised "down" were playing with tinker toy trains when the 50,000 ton locomotive barreled right thru them! (...wondering now if 60 pips out of 220 is really all that good....arrrrg!)

And I think david4u is the SonicR Man Of The Day. He put on a fantastic trade!

"...was adding to his losing position, while market was telling otherwise. Market was showing LowerHighs and Lower Lows, Price below the dragon and so on..."


"...Remember: 'Losers Average Losers' - Paul T. Jones
(Do not add to loosing positions)..."

I am really liking Domas's contributions to the thread, and the above quoted post is excellent as it shows the objectiveness of the method in the face of the subjectiveness of beliefs and emotions concerning what the market "should" so or what one "wants" the market to do.

Sonikers should be like Domas - do not impose your will upon the market - the market tells use what it is going to do, we need merely to listen free from opinions, etc.