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Sonic R. System

  • #13,181
  • Jul 7, 2010 3:52pm Jul 7, 2010 3:52pm
EU Long Trade Update:

Summary-
Closed 1/4 of original entry for 63 pips profit.
Then re-entered that 1/4 and added new 3/4 at average price 35 pips lower.
Closed 2/4 for 45 pips profit.
closed 2/4 for 55 pips profit.

This leaves 3/4 of original entry still running. SL is raised again, assuring more profit on the remaining amount.
Attached Image (click to enlarge)
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  • #13,182
  • Jul 7, 2010 4:28pm Jul 7, 2010 4:28pm
Quoting Basber
Anyway, I took GU long and placed an order for UJ. Let's see what will happen next Risking 1% on GU and 2% on UJ.

Regards,
Basber
GU Trade :
TP1 hit (it was for lower entry) ----> +54 pips (spread calculated)
Closed the other half when I saw the second downward move and ofcourse the divergence ----> +51 pips

UJ Trade :
TP1 hit : +20 pips
I'm still in this trade, SL @ TP1 (last low formed)

If you want to ask why I didn't delete the order after breaking the last low due to the picture I've posted, see third picture ...

P.S. : Good trade TAH. You're a bless for this thread

Regards,
Basber
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu tp1 hit, tp 2 manually.gif Size: 36 KB
Click to Enlarge Name: uj long tp 1.gif Size: 30 KB
Click to Enlarge Name: why took uj trade.gif Size: 32 KB
Trading methods are designed to put the odds in our favor, not predicting.
  • #13,183
  • Jul 8, 2010 1:04am Jul 8, 2010 1:04am
Quoting traderathome
EU Long Trade Update:

Summary-
Closed 1/4 of original entry for 63 pips profit.
Then re-entered that 1/4 and added new 3/4 at average price 35 pips lower.
Closed 2/4 for 45 pips profit.
closed 2/4 for 55 pips profit.

This leaves 3/4 of original entry still running. SL is raised again, assuring more profit on the remaining amount.
That's not bad man (to me it looks like an amazing trade)
I got only 40pips, but still it's my best trade ever. (ever = last few weeks I have been trading)
Follow my trading on Twitter and FB: @pumlitch
  • #13,184
  • Jul 8, 2010 1:41am Jul 8, 2010 1:41am
Hi Sonic,

How do you avoid from ranging?I read your first post you said that use multiple TF.But if I wait for break of tunnel in H1 then go to 15min,the price already crossed the tunnel much more earlier than H1 TF.Can you help me explain with a picture please
  • #13,185
  • Jul 8, 2010 1:55am Jul 8, 2010 1:55am
Quoting Basber
GU Trade :
TP1 hit (it was for lower entry) ----> +54 pips (spread calculated)
Closed the other half when I saw the second downward move and ofcourse the divergence ----> +51 pips

UJ Trade :
TP1 hit : +20 pips
I'm still in this trade, SL @ TP1 (last low formed)

Regards,
Basber
TP2 hit for UJ ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #13,186
  • Jul 8, 2010 2:41am Jul 8, 2010 2:41am
E/u short setup
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  • #13,187
  • Jul 8, 2010 3:06am Jul 8, 2010 3:06am
Quoting tushka
E/u short setup
Already in, watching the pullback right now. Hope it's going to end and fall down.
Follow my trading on Twitter and FB: @pumlitch
  • #13,188
  • Jul 8, 2010 3:12am Jul 8, 2010 3:12am
same here
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  • #13,189
  • Jul 8, 2010 3:27am Jul 8, 2010 3:27am
GU short!
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Persian Gulf forever
  • #13,190
  • Jul 8, 2010 4:12am Jul 8, 2010 4:12am
Quoting Solace.007
Hi Sonic,

How do you avoid from ranging?I read your first post you said that use multiple TF.But if I wait for break of tunnel in H1 then go to 15min,the price already crossed the tunnel much more earlier than H1 TF.Can you help me explain with a picture please
Please read beyond the first post.

Using multiple TFs does not mean to wait on a larger TF for price to break the Dragon, and then move down to the M15 to look for a setup.

Primarily, H4 is the larger TF to use, but not for a break out of the Dragon. Use H4 to find a reason that PA may exhibit a run, and then move down to M15 and wait for a setup.

Hope this helps, but nothing will match just working your way thru the thread.
  • #13,191
  • Jul 8, 2010 4:37am Jul 8, 2010 4:37am
EU Watch:

If you think that EU may be in for a turn down, you might be correct. But should there be a turn down, or not, take a look at this........
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  • #13,192
  • Jul 8, 2010 5:01am Jul 8, 2010 5:01am
EU Watch:

.......and don't forget this chart!

Yes, the TF is large to be much concerned when trading on the M15. But still.........
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  • #13,193
  • Edited 6:03am Jul 8, 2010 5:19am | Edited 6:03am
EU Long Trade Update:

You all are scaring me with such talk of shorting!

Nevertheless, I have applied an new FE study to the chart and the prime FE 162% extension level coincides with GMT Daily pivot MR3, as well as the area of the range high.

I'll continue for the moment to remain optomistic about additional prospects for this trade. The Asian trading spike up with high trading at the highs may indeed mean they feel PA is near topping off. They may have diriven in up while selling off long positions and maybe even taking on shorts. However, the US session has yet to be heard from. And it would not be out of the question for those traders to slam it up 50-100+ pips, for a grand finale! They have done it before. Another thought is this; maybe the reason the euro traders are keeping it in a range is to prepare for such a grand finale. Who knows. I sure don't.

Anyway, I still have 3/4 of original amount running, and with a SL that guarantees profit. I can't lose!
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  • #13,194
  • Jul 8, 2010 5:28am Jul 8, 2010 5:28am
ok I think I got what you mean.Thank you so much Sonic.One more question...what about take profit??how do you exit the market?I mean at which point do you exit?or you use other indicator as an exit point?
  • #13,195
  • Jul 8, 2010 5:46am Jul 8, 2010 5:46am
Quoting traderathome
EU Long Trade Update:

You all are scaring me with such talk of shorting!

Nevertheless, I have applied an new FE study to the chart and the prime FE 162% extension level coincides with GMT Daily pivot MR3, as well as the area of the range high.

I'll continue for the moment to remain optomistic about additional prospects for this trade. The Asian trading spike up with high trading at the highs may indeed mean they feel PA is near topping off. They may have diriven in up while selling off long positions and maybe even taking on shorts. However,...
Golden Rule ...
Trade what you see.
Pablo
  • #13,196
  • Jul 8, 2010 5:49am Jul 8, 2010 5:49am
Quoting Solace.007
ok I think I got what you mean.Thank you so much Sonic.One more question...what about take profit??how do you exit the market?I mean at which point do you exit?or you use other indicator as an exit point?
I am not SonicdeeJay. I am traderathome.

Exit strategies are many, and an individual choice. Fundamentally, SonicR exits should be based on current PA as relates to PA history of support, resistance and consolidation areas, no matter what other tools are selected to be used.

You really need to read more of the thread before asking such basic questions, please.
  • #13,197
  • Jul 8, 2010 5:59am Jul 8, 2010 5:59am
Quoting Solace.007
ok I think I got what you mean.Thank you so much Sonic.One more question...what about take profit??how do you exit the market?I mean at which point do you exit?or you use other indicator as an exit point?
Hi Solace,

Welcome to SonicR thread.

Try to read the whole thread. Because all of your questions are discussed in past and there are lots of examples here. Then we can help you grow faster, but if you want to read post #1 and manual, then post some questions and make something out of it, you're soooo wrong ! You should've put time in this. If not, you'll be off, sooner or later.

Speaking for myself ... When I saw people put time in this, reading the whole thread, posting, backtesting, demoing and etc. I like to do what ever in my experience to help them grow faster and learn together, if not, I try not to waste my time on these new posters. I'm not offending you, I'm just talking in general. I hope you'll be in the group whom try to cost the most preliminary object on forex, TIME !

Try to look at it as a book. People try to read thousand pages of different books, but not a thread that even after a while you know which posts from which traders you should read only ! If you change your option to 45 post per page from you profile, it'll be 330 pages ... reading 10 page per day is an easy task. You'll need 2 hours per day maximum, instead you'll learn stuffs more than just a method. Very psychological matters discussed here, many Money management subject had been talk about and so on ...

Just for you know, I myself answered your question 3-4 times here. Sum it with other traders ... should be more ...

Again, I'm not trying to offend you. Don't take it personally.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #13,198
  • Jul 8, 2010 6:06am Jul 8, 2010 6:06am
TAH:
And what's about tha strong divergence on MACD? Looks like a pretty significant signal of some change of move. What do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: MACD_Div.PNG Size: 36 KB
Follow my trading on Twitter and FB: @pumlitch
  • #13,199
  • Edited 6:31am Jul 8, 2010 6:18am | Edited 6:31am
Quoting Pumlitch
TAH:
And what's about tha strong divergence on MACD? Looks like a pretty significant signal of some change of move. What do you think?
Attachment
Yes, I wholeheartedly agree with that. And thank you for emphasizing it.

Folks, don't misunderstand me. I am not saying PA is just going higher, higher, higher because of the Daily or the Montly chart, or any other chart. Maybe the trend is shifting to up, and maybe the Daily H&S pattern is the area of the trend change. Maybe.....maybe.......maybe.

If I counted the times I let such longer TFs screw me up on M15 trades, I'd become hoarse.

The Daily H&S says "up", the M30 MACD divergence definately warns of a downturn. And so what about today? For today, personally, my trade is based on psycology, which I can afford to do since I have already made money on this and cannot fail to make more, no matter which way PA goes. And the psycology for today is that the US profs, like all profs, are incredibly well monied and incredibly greedy. They have the money to drive the price and the arrogance to do it if they think it will be profitable. So what better direction to go, while everyone is starting to focus on signs of a reversal, than UP even higher?

But that is just me, and just for the balance of this trade. You want GOOD advice?

"Let the market decide." -Sonicdeejay
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: # 659.gif Size: 34 KB
  • #13,200
  • Jul 8, 2010 6:54am Jul 8, 2010 6:54am
Quoting traderathome

"Let the market decide." -Sonicdeejay
I like it!

I am already out of the market with 16pips loss as I got scared due to your view of potential up trend.
Follow my trading on Twitter and FB: @pumlitch
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