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Sonic R. System

  • #12,541
  • May 19, 2010 11:47am May 19, 2010 11:47am
TAH
You may want to take a look at my post regarding Fibonacci terminology ... (#9661)
http://www.forexfactory.com/showpost...postcount=9661
I mean extension which is used on MT4 with "Fibonacci Retracement" tool ...so I will use here on the thread the term FR not to create any kind of confusion.
You are very right regarding zooming out to look at a bigger swing . A combination of both options it's even better .
Can I get your comment regarding "waiting for the ascending channel to break down" ?
What's your choise ? To enter at the early and "correct" entry and to be alert for possible reversal at the lower channel ?
Tks
David


Quoting traderathome
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.
  • #12,542
  • May 19, 2010 11:48am May 19, 2010 11:48am
hi all sonic trader , im new here...

does this chart correct ?
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  • #12,543
  • May 19, 2010 12:03pm May 19, 2010 12:03pm
Quoting david4u
TAH still have questions...
I was triggered at LO open with a buy stop order a few pips above the 2223 H from 06:30 .
I was stopped out as I saw the speed of this candle moving against me .
Why didn't u take this long as described in your chart ?
That's what I want to learn from you .
Did u use any kind of filter ? EMA89 or following the down trend on H4 or it's intuition/expectancy ?
Or just don't take trades before usa news release ?
On the EY we have the same situacion.
Tks
David
David, I appreciate your quest for some hard and fast rule that covers this. If there is one, I guess it is to NOT post "possible" or "preliminary" setups, but just post after an entry is made. I have perhaps in the spirit of trying to be of some help, caused harm. If so, for that I apologize. Should I cease making such posts?

In this particular case, all that I can add is that the RESISTANCE area off to the left in the yellow band caused me concern. EP was very close to it, and if EP was rasied further to avoid a possible headfake, a valid entry would have been even closer to a posssible ceiling. My thinking was if a tall bar shot up thru EP, I could wait for a possible pullback from that ceiling to, or near to, EP again for entry. But I wanted to see some kind of strong candle start to convince me that PA was indeed headed higher.

As it turned out, I made a "low in range" entry, kept a tight SL, prayed, and went to bed. Because NVO-wise PA has had such a great sendoff, I am going to leave the trade running.
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  • #12,544
  • May 19, 2010 12:08pm May 19, 2010 12:08pm
What a great contribution from a great man, teacher and trader.
THANK YOU FOR SHARING !
On my chart...
1. small issue , upper left corner.Looks like 2 indicators are overlapping...(see "M15") but I have seen that only on my charts...so may be a resolution isuue (?)
2. I am getting ALL the time a FFCal Error . Do I need to configure this indicator ?
3. New York . For me New York is the NYSE opening. IMHO this is the main event . I have tried to change the time to set it to 9:30 ET , but looks the indicator does not allow this type of time but only round hours... 8:00 , 9:00 , 10:00 etc .Pls advice.
4. Can u pls explain how u calculate the place of the Range H & L lines .Is it based on the last 14 days average range ?
5. If the EMA89 is not used as a filter , how do u use it ?
Tks
David
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  • #12,545
  • May 19, 2010 12:09pm May 19, 2010 12:09pm
Quoting pressok
hi all sonic trader , im new here...

does this chart correct ?
Yes, your chart is set up correctly. Welcome aboard, mate!
  • #12,546
  • May 19, 2010 12:28pm May 19, 2010 12:28pm
TAH
Pls continue to post ALL possible and preliminary setups.
Only that way we can learn.
Nothing can compare to posting your setups in real time before the setup triggers.
However , if u show a possible setup and can explain the reason why you are not going to take the trade , it will be of great help to be able to follow your analysis ,your way of thinking and the way you see the market .
Tks for your contribution
David


Quoting traderathome
David, I appreciate your quest for some hard and fast rule that covers this. If there is one, I guess it is to NOT post "possible" or "preliminary" setups, but just post after an entry is made. I have perhaps in the spirit of trying to be of some help, caused harm. If so, for that I apologize. Should I cease making such posts?
  • #12,547
  • May 19, 2010 12:37pm May 19, 2010 12:37pm
Quoting david4u
What a great contribution from a great man, teacher and trader.
THANK YOU FOR SHARING !
On my chart...
1. small issue , upper left corner.Looks like 2 indicators are overlapping...(see "M15") but I have seen that only on my charts...so may be a resolution isuue (?)
2. I am getting ALL the time a FFCal Error . Do I need to configure this indicator ?
3. New York . For me New York is the NYSE opening. IMHO this is the main event . I have tried to change the time to set it to 9:30 ET , but looks the indicator does not allow this type of time but only...
1. For some unknown reason, on your posted chart the extension panel containing the clock is not placed correctly....shifted left from where it should be. And it is displaying "M1!" instead of "M15"...and I do not know why this is. Also, the bottom of the main panel is too low. I have no idea why your platform is reacting this way to the code. What broker, timezone, and platform (including version) are you using?
2. While the FFCal error you show I am not experiencing, it did cause me to check the "Experts" log, where I find there is an "invalid time for ObjectMove function", which I will look to eliminate with recoding and repost the indy. Perhaps that will help your situation.
3. The NY open for the FX market (not the stock market) is at 8am (when the stock pre-market opens). And yes, the coding does not allow other than whole hour inputs. So far as I know, only the Sydney FX market opens on other than the top of the hour (7:30am their local time I am told).....and we don't really care about that open. Sorry to put it this way, but coding for other than whole hours would be a real bitch, and I'm not sure I could do it.
4. The range lines are based on the average range. Please, read the user notes in the indicator compiles, as some explanations are already there.
5. The Trend Line (89 ema) is just that.....it shows the trend direction for the TF. In "many circles" it is accepted that unless you are counter-trend trading, you should only go long if PA is above the line and only go short if PA is below the line. But, as we often see, the SonicR method may have us entering a trade long while PA is below, or short while PA is above. In a sense, the SonicR method gives us "early" entry with regards to the Trend Line. It is in the template because it is a part of the SonicR method, by Sonicdeejay's choice. You can turn it off if you like. But it becomes increasingly valid as you go up in TF.

Hope this helps. Not sure when I will get to the FFCal fix, but will repost it when it is taken care of. Thank you for your input, David. Please post that info on your platfrom.
  • #12,548
  • May 19, 2010 12:40pm May 19, 2010 12:40pm
Quoting traderathome
Yes, your chart is set up correctly. Welcome aboard, mate!

thx your work hard to improve indis~! i like this simple and clear system
and thx to Sonic e-book on this thread ~
good job !
  • #12,549
  • May 19, 2010 1:51pm May 19, 2010 1:51pm
sonicdeejay and traderathome,

Could you both please share your money management strategy?

I've followed this method for one month. It is great and totally changed my trading strategy.
But I always seem to fail due to bad MM.

How do you decide your lot size? How many percentages of your capital do you intend to earn per week?

Thanks!

post with my first pic.
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  • #12,550
  • May 19, 2010 2:51pm May 19, 2010 2:51pm
Quoting traderathome
David, I appreciate your quest for some hard and fast rule that covers this. If there is one, I guess it is to NOT post "possible" or "preliminary" setups, but just post after an entry is made. I have perhaps in the spirit of trying to be of some help, caused harm. If so, for that I apologize. Should I cease making such posts?

In this particular case, all that I can add is that the RESISTANCE area off to the left in the yellow band caused me concern. EP was very close to it, and if EP was rasied further to avoid a possible headfake, a valid...
Nice job with your setup eur/usd up Traderathome

Fantastic pips with this setup
  • #12,551
  • May 19, 2010 4:32pm May 19, 2010 4:32pm
Quoting SharnHoiste
sonicdeejay and traderathome,

Could you both please share your money management strategy?

I've followed this method for one month. It is great and totally changed my trading strategy.
But I always seem to fail due to bad MM.

How do you decide your lot size? How many percentages of your capital do you intend to earn per week?

Thanks!

post with my first pic.
Attachment
Let's start with this. What do you feel is bad about YOUR money management? What things do you feel you are doing that is hurting your profitability?

Regarding your first chart. Since Sonicdeejay started with this convention, for consistency we might all consider following it:

Black chart - EP is white, TP is blue, SL is red
White chart - EP is black, TP is blue, SL is red
  • #12,552
  • May 19, 2010 4:41pm May 19, 2010 4:41pm
Was this a valid setup? I hesitated on this and look where price went. I like the fact that there was a lot of space between the prior fall in price and where we were at 8AM EST this morning. I think everything lined up for a good long trade, but I wasn't didn't make my mind up on where to put my buy stop, and the rest is history.

So now, where was the entry based on the sonic methodology? Would it have been at the lower white line or at the higher white line? The lower line is based on the high of the candle that closed above the dragon and the second is based on the high of the candle that formed the low @ 3AM EST (at the london Open)

I think everything lined up for a good trade, price was forming higher highs, as seen by the red trendline, the QQE was rising and above 50, the CCI midline was green and above zero.

Thanks
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  • #12,553
  • May 19, 2010 4:43pm May 19, 2010 4:43pm
EU Long Trade:

PA reached previous highs. To protect profit I closed the trade with gain of 255 pips.
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  • #12,554
  • May 19, 2010 5:02pm May 19, 2010 5:02pm
EU Outlook:

The attached Daily chart contains a FE study, which shows PA bouncing up off the FE 262% level area. Now, while the trend overall is clearly down, sooner or later trends reverse.

Which brings me to the NVO study. Usually I don't pay much attentioin to such "activity" studies on really large TFs, but this one caught my eye. Over the last two weeks it is the lows that have attracted activity, not the highs. And the activity at the lows has been dramatic, to say the least.

All this has me wondering if this summer is bringing a switch by the Speculators back to euro strength over the dollar. We have nothing but bear candles on the Monthly chart for the last six months (dollar strength), so they may think it time for some bullishness for the euro to come back to the scene for a while.

WARNING: Speculation.
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  • #12,555
  • May 19, 2010 5:24pm May 19, 2010 5:24pm
Quoting kulu
Was this a valid setup? I hesitated on this and look where price went. I like the fact that there was a lot of space between the prior fall in price and where we were at 8AM EST this morning. I think everything lined up for a good long trade, but I wasn't didn't make my mind up on where to put my buy stop, and the rest is history.

So now, where was the entry based on the sonic methodology? Would it have been at the lower white line or at the higher white line? The lower line is based on the high of the candle that closed above the dragon and the...
Your lower white line is the most valid (see gray EP zone in the attached chart). The highs out of the Dragon marked with the higher white line were invalidated once PA later exited the Dragon on the low side. When that happens, we tend to "reset" and wait for a new "first run" out of the Dragon. However, having said that, other things can and should be considered. For example, there is nothing wrong with waiting for price to also clear some previous S&R area that lies close to the EP zone.
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  • #12,556
  • May 19, 2010 5:36pm May 19, 2010 5:36pm
Brilliant !
Can u share with us how do u manage your trades ?
You have only one TP ?
100% @ 255 pips , no partial closing ?
Do u have several TP's ?
How do you scale your SL ?
When do u move SL to BE ?
How do you lock profits using SL ?
Do u have same policy in all your trades ?
Tks
David



Quoting traderathome
EU Long Trade:

PA reached previous highs. To protect profit I closed the trade with gain of 255 pips.
  • #12,557
  • May 19, 2010 6:44pm May 19, 2010 6:44pm
Quoting david4u
Brilliant !
Can u share with us how do u manage your trades ?
You have only one TP ?
100% @ 255 pips , no partial closing ?
Do u have several TP's ?
How do you scale your SL ?
When do u move SL to BE ?
How do you lock profits using SL ?
Do u have same policy in all your trades ?
Tks
David
Well, in this case as I've already said, I got bored and disgusted waiting while the manipulating Speculators sandbagged for the run up they knew they were going to make happen.....regardless of whatever the releases "said". So I picked a low entry, kept the SL tight, prayed, and went to bed! It was late in the morning when I awoke. I saw that it was up and with a great NVO sendoff, and didn't need my attention. The Speculators don't pour that much into the preparation of their play and the sendoff of it, just for a few pips gain. So, I went out and pulled weeds for the afternoon. Later, came in, showered, dressed, took a look and saw that it was up more, very near previous highs, and decided to watch for a bit. It didn't take much longer to achieve the highs, where I closed the trade.

There. You've just had Course #1 in Trade Management!
  • #12,558
  • May 19, 2010 7:55pm May 19, 2010 7:55pm
FFCal Headlines Fix:

A fix has been made to resolve an "ObjectMove" error recorded by MT4 Experts Log. It did not affect the operation of the indy at all, but the Experts Log was flagging that the coding was not quite what it should be.

Open your MT4 Program/experts/indicators folder and delete the contained "FFCal Headlines (White).mq4" file. Then download and paste the attached file into the folder.

I apologize for any inconvenience.
Attached File(s)
File Type: mq4 FFCal Headlines (White).mq4   47 KB | 623 downloads
  • #12,559
  • May 19, 2010 8:39pm May 19, 2010 8:39pm
Quoting traderathome
Let's start with this. What do you feel is bad about YOUR money management? What things do you feel you are doing that is hurting your profitability?

Regarding your first chart. Since Sonicdeejay started with this convention, for consistency we might all consider following it:

Black chart - EP is white, TP is blue, SL is red
White chart - EP is black, TP is blue, SL is red

I adjust lot size according to my capital.
as my capital grows, my lot size grows.
however, my capital is always strongly reduced by big and continuous SL.


how do you use your money?

I will follow the rules in my next chart.
  • #12,560
  • May 19, 2010 10:29pm May 19, 2010 10:29pm
Quoting SharnHoiste
I adjust lot size according to my capital.
as my capital grows, my lot size grows.
however, my capital is always strongly reduced by big and continuous SL.


how do you use your money?

I will follow the rules in my next chart.
"I adjust lot size according to my capital. As my capital grows, my lot size grows." -

Ok, let's work with that. What ratio trade size to capital do you use? For example, someone might use "1/3", meaning if they have $1,000 capital they will only trade about 3 mini-lots, or about 1/3 of a lot per $1,000. And if they have $3,000 then they might trade up to 1 whole lot. So, what ratio are you using?

"However, my capital is always strongly reduced by big and continuous SL." -

Please expand on what you mean here. Are you saying both that your SL settings are big and also that more often than not your trades are stopped out? What is "big" and what percent of your trades are stopped out?
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