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Sonic R. System

  • #13,481
  • Jul 15, 2010 6:02am Jul 15, 2010 6:02am
Quoting KumoDragon
At what time are you trading? I tried a couple outside the rules in off time and there wasn't enough momentum. So far the trades in the recommended U.S. time seem to break out relatively quickly.
Hey KumoDragon,
I have been trading only the recommended hours but I guess I was not waiting for the right setups… I vowed two days ago after losing so much that I will wait for the right WAVE even if that means missing many many breakouts. Thanks for your advice, n hope you are trading well.
Regards,
Chantal
  • #13,482
  • Jul 15, 2010 6:07am Jul 15, 2010 6:07am
Quoting traderathome
Chantalb, far be it for me to tell anyone how to trade because I slip away from the rules myself.....and it always costs me.

But, I offer this suggestion. Since Sonicdeejay started this thread and focused on EU, try that yourself. Since EU is the most highly traded pair, during approved trading hours it is most difficult for the professional traders to suddenly manipulate price in the "other" direction. I'm not saying that they can't during those prime trading hours, just that it is more difficult for them. And so, during approved trading hours,...
Hey Tah
As all the past advice you have given so openly you are right again. I would like to get some reading done on S&R, could you recommend any link… I have read plenty already but maybe one more or some coming from you might just shed more light.
Thank you,
Chantal
  • #13,483
  • Jul 15, 2010 6:18am Jul 15, 2010 6:18am
Quoting Chantalb
Hey Tah
As all the past advice you have given so openly you are right again. I would like to get some reading done on S&R, could you recommend any link… I have read plenty already but maybe one more or some coming from you might just shed more light.
Thank you,
Chantal
You can probably Google it and find some good stuff. But while working your way thru the thread, focus on ddaytrader's posts too.
  • #13,484
  • Jul 15, 2010 6:44am Jul 15, 2010 6:44am
Quoting traderathome
You can probably Google it and find some good stuff. But while working your way thru the thread, focus on ddaytrader's posts too.
Already done that, just thought maybe you could advise differently... Anyway thanks a lot
  • #13,485
  • Edited 7:13am Jul 15, 2010 7:02am | Edited 7:13am
My one good sonic trade yesterday. USD/CHF for +90
Had a text book entry. Break out bar is all the way left of the picture, the waves, which you can't see, were showing a good formation.

After entry price went to +30 then spiked all the way back to entry (0) then back down to +50. At that point I put the trade at BE.

It then meandered in the off hours. Decided to leave it overnight as I thought it was likely it would reach the bottom of the shi channel, which it did. (It did come within 14 pips of stopping me out at BE)

When I got up it was at +100. Watched it wiggle a bit and decided just to take it in case it bounced up off the channel again. Also it is at Ms3, And this erases 1& half of my losses from yesterday.

P.S. I took two trades yesterday that did NOT follow sonic rules and lost, the one that did, won. So, myself, I'm just taking trades that stick to the rules right now instead of trying to catch every move. On EU I thought it would breakout short from the range yesterday. Insted it went short juuuuuuuust enough to trigger my trade then hit my TP.

Then......... even though EJ was already past a good entry and didn't have waves set up properly I convinced myself it was going to continue big long, and I didn't want to miss out. Of course it reversed on me short.

Moral of the story..............had I just stuck with only by the rules entries, I'd be much happier right now.

P.P.S. sorry to confuse anyone, I accidently marked my entry point with red and my tp with white.
Attached Image (click to enlarge)
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  • #13,486
  • Jul 15, 2010 7:11am Jul 15, 2010 7:11am
Quoting Chantalb
Hey Tah
As all the past advice you have given so openly you are right again. I would like to get some reading done on S&R, could you recommend any link… I have read plenty already but maybe one more or some coming from you might just shed more light.
Thank you,
Chantal
Hi Chantalb
Here is the link:
http://www.nobrainertrades.com/search/label/Blog
Follow the rules and be successful.
  • #13,487
  • Jul 15, 2010 7:25am Jul 15, 2010 7:25am
Quoting .PeYmAn.
Hi Chantalb
Here is the link:
http://www.nobrainertrades.com/search/label/Blog
Great... Thank you... will look at it shortly
  • #13,488
  • Jul 15, 2010 8:27am Jul 15, 2010 8:27am
Look like EJ may set up for a short later today.
  • #13,489
  • Jul 15, 2010 9:09am Jul 15, 2010 9:09am
E/J trade initiated
Attached Image (click to enlarge)
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  • #13,490
  • Jul 15, 2010 9:14am Jul 15, 2010 9:14am
Quoting tushka
E/J trade initiated
While QQE is in positive Area?
  • #13,491
  • Jul 15, 2010 9:20am Jul 15, 2010 9:20am
EJ text book set up just happened. Hasn't hit my sell stop yet.
  • #13,492
  • Jul 15, 2010 9:24am Jul 15, 2010 9:24am
Quoting tushka
E/J trade initiated
You don't wait for the bar to close and put entry some pips past?
  • #13,493
  • Jul 15, 2010 9:29am Jul 15, 2010 9:29am
Quoting KumoDragon
You don't wait for the bar to close and put entry some pips past?
Yeah ,because it's sonicr often called advanced setup.I waited till price founded resistance ,then waited till first pullback and then entered.(sorry for my english)
  • #13,494
  • Jul 15, 2010 9:34am Jul 15, 2010 9:34am
Quoting tushka
Yeah ,because it's sonicr often called advanced setup.I waited till price founded resistance ,then waited till first pullback and then entered.(sorry for my english)
You mean you used the price action/ reentry set up? Could you document with a graphic why you entered when you are not busy with the trade?
  • #13,495
  • Jul 15, 2010 9:42am Jul 15, 2010 9:42am
Quoting KumoDragon
You mean you used the price action/ reentry set up? Could you document with a graphic why you entered when you are not busy with the trade?
This is why i entered
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  • #13,496
  • Jul 15, 2010 9:49am Jul 15, 2010 9:49am
Quoting tushka
This is why i entered
So, you are short? And your possible exit is low of the daily waves?
  • #13,497
  • Jul 15, 2010 9:53am Jul 15, 2010 9:53am
Quoting KumoDragon
So, you are short? And your possible exit is low of the daily waves?
Yeah,we gonna see how it goes.Market know better than i
  • #13,498
  • Jul 15, 2010 10:15am Jul 15, 2010 10:15am
Quoting KumoDragon
EJ text book set up just happened. Hasn't hit my sell stop yet.
All the signals reversed. Dragon tunnel looks like it's going flat. End of U.S. session and my trade never entered. So, I'm just cancelling the order.
  • #13,499
  • Jul 15, 2010 11:01am Jul 15, 2010 11:01am
Quoting KumoDragon
EJ text book set up just happened. Hasn't hit my sell stop yet.
Hi,
I'm very new to this system and still learning it.

I'm confused by the 'text book setup' referred to by KumoDragon.

I checked on 1h and 4h timeframes and EURJPY looks to be trending upwards recently not downwards, so would only be looking for long setups ?
  • #13,500
  • Jul 15, 2010 11:13am Jul 15, 2010 11:13am
Quoting LeafTrader
Hi,
I'm very new to this system and still learning it.

I'm confused by the 'text book setup' referred to by KumoDragon.

I checked on 1h and 4h timeframes and EURJPY looks to be trending upwards recently not downwards, so would only be looking for long setups ?
As I understand that is only the bias, you are not barred from taking counter trend trades.
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