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Sonic R. System

  • #13,661
  • Jul 20, 2010 11:38am Jul 20, 2010 11:38am
EU:

This might breakout SonicR short.
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  • #13,662
  • Jul 20, 2010 11:57am Jul 20, 2010 11:57am
Quoting traderathome
EU:

This might breakout SonicR short.

Yes, I was just gonna post my chart, I'm in that one now. I'm glad that you saw that as a valid trade also.
"Be the change that you wish to see in the world." --Gandhi
  • #13,663
  • Jul 20, 2010 1:00pm Jul 20, 2010 1:00pm
EU:

The possible short setup looks less likely now. We are out of approved trading hours for entry, and coming to the end of the day.

Even though it looks like M15 PA has broken lower TL (black) and come back to test it, PA could just go sideways for a while. And the asian session tomorrow might do a pump for better shorting position if this is staging to go lower. And, if they do, then a higher EP short might be created going into the approved trading hours tomorrow.

Having said all that, the US prof speculators might do a late session drive down. We never know. It is just looking less likely.
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  • #13,664
  • Jul 20, 2010 1:28pm Jul 20, 2010 1:28pm
GU: I couldn't resist so atractive double top right on daily range border.
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EU: Waiting for a trigger, order in place.
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Follow my trading on Twitter and FB: @pumlitch
  • #13,665
  • Edited 10:06pm Jul 20, 2010 7:22pm | Edited 10:06pm
SonicR Volume Oscillator Indicator:

Part of the TAH template upgrade I am working on is this indicator. It is the basic NVO, corrected and expanded.

The expansion is the labels, which now include not only the trade count per bar and its percent of the bar averages over the averaging period, but also a label for the number of trades per incoming tick. It is this count that increases the current bar total tick by tick, and it is interesting to see when an incoming tick has multiple trades.

This indicator is not yet available, but in working on it I had both a 4-digit and 5-digit platform open (two different brokers) and I saw something worth commenting on.

Look at the NVO in both charts. The first chart is FXDD, and note the 101 trades that comprised the 178% of average volume. The second chart is IBFX, and note the 872 trades that comprised the 171% of average volume. There is 8x the volume of trades on the IBFX server compared to the FXDD server! Now here is the important point I thought worth commenting on. Note the spike in the histograms.....both histograms! You see, even though different broker servers get only a piece of the forex pie data out to their clients, with NVO when there is a sudden increase in activity, it can be significant and with a tendency to show up market wide, regardless of how much or little activity an individual broker server is experiencing.

This is kudos for NVO!
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  • #13,666
  • Jul 20, 2010 11:22pm Jul 20, 2010 11:22pm
EU:

We have less than an hour now until approved trading hours begin. EU has struck an EP area for a short trade. The early euro traders may pull price up though.

The attached M15 shows potential SonicR short setup. NVO shows asian traders did a small pump and then heavily traded the price return, which could indicate a selloff move.

The attached H4 chart has the last group of candles highlighted . I see the strory of these candles as follows. The first candle indicates rejection at the highs. The second candle is hughly bearish following the rejection. The follow-on candles indicate traders are "consolidating". In other words, they know this is going lower and they need to take advantage of it. They need time to close longs and open shorts. It takes time because they need the herd of sheep to buy their longs and sell them their shorts. Putting it bluntly, the consolidation period is a time for drawing in suckers and get them in on the wrong side of the future trade.

I expect this to drop. But the profs might drive it up in the range again if they are not yet ready to take full advantage of a good drop. So, like Sonicdeejay says,.......

.....Let the market decide.
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  • #13,667
  • Jul 20, 2010 11:53pm Jul 20, 2010 11:53pm
EU:

A second potential TP is added to the potential SonicR short trade.

The enlarged view M15 shows the potential wave that could trigger the setup, if the early euro traders don't put it on a back burner with another pump first.
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  • #13,668
  • Jul 21, 2010 12:51am Jul 21, 2010 12:51am
EU:

This is like watching paint dry. The longer before anything happens, the more it gets me thinking they may pump to the central pivot before dropping it. Shear speculation brought on by boredom.....
  • #13,669
  • Jul 21, 2010 5:17am Jul 21, 2010 5:17am
Well I'm in EU. moved SL to BE. already at +31pips as at time of post. Target Fib S2.... 1.2802. Wish me God's speed.
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  • #13,670
  • Jul 21, 2010 5:46am Jul 21, 2010 5:46am
4 hr chart ...get sonic trade help of 4 hr chart from s&r area and find super sonic trade from S&R area ..i hope its help for newbies.

Muhammad
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FxHome
  • #13,671
  • Jul 21, 2010 5:48am Jul 21, 2010 5:48am
Quoting zecco
Well I'm in EU. moved SL to BE. already at +31pips as at time of post. Target Fib S2.... 1.2802. Wish me God's speed.
Target hit=== +60pips. God thank you for the life of Sonicdeejay. Thank God for everything.
  • #13,672
  • Jul 21, 2010 6:17am Jul 21, 2010 6:17am
Just closed my trade on EU for 100 pips. I put it on yesterday towards end of US session. I thought I made another boo boo cause the market just went to sleep and went sideways for a long time, but it worked out ok. I'm a happy camper. First SonicR win for me!

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"Be the change that you wish to see in the world." --Gandhi
  • #13,673
  • Jul 21, 2010 6:28am Jul 21, 2010 6:28am
Short GU, gonna try for 100 pips again. I gotta keep my risk/reward at least 1:2 or 1:3. Then if I can achieve at least 50/50 win/loss ratio, I should do okay.

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"Be the change that you wish to see in the world." --Gandhi
  • #13,674
  • Jul 21, 2010 6:33am Jul 21, 2010 6:33am
congrats Zecco!!
"Be the change that you wish to see in the world." --Gandhi
  • #13,675
  • Jul 21, 2010 7:33am Jul 21, 2010 7:33am
Quoting Wally1953
congrats Zecco!!
Thanks Wally...And Glory be to God. I'm also in GU, short at1.5266, Target daily surprt s1 at 1.5200
  • #13,676
  • Jul 21, 2010 7:48am Jul 21, 2010 7:48am
Quoting Wally1953
Short GU, gonna try for 100 pips again. I gotta keep my risk/reward at least 1:2 or 1:3. Then if I can achieve at least 50/50 win/loss ratio, I should do okay.


Attachment
What's the basis for your target? Please enlighten us so that we can tap from your weath of knowledge.
  • #13,677
  • Jul 21, 2010 7:56am Jul 21, 2010 7:56am
Quoting zecco
What's the basis for your target? Please enlighten us so that we can tap from your weath of knowledge.

Zecco, please you must first understand I have no "wealth of knowledge." I'm struggling like most of the others in here. My 100 pip target is just an arbitrary number I picked. What I'm trying to do is achieve a 1:3 risk/reward ratio to offset my lack of accuracy in picking winners. 100 pips seems reasonable trading on these higher timeframes. I also move my stop to lock in profits when I can.

But if I were to give advice that I am confident in giving, it would be to make money management our prime concern. Never risk more than 3% of your equity on a trade. If you're patient 1% or 2% is even better.

Anyways, it looks like our GU trade is very promising. Good luck.
"Be the change that you wish to see in the world." --Gandhi
  • #13,678
  • Jul 21, 2010 8:18am Jul 21, 2010 8:18am
Quoting Wally1953
Zecco, please you must first understand I have no "wealth of knowledge." I'm struggling like most of the others in here. My 100 pip target is just an arbitrary number I picked. What I'm trying to do is achieve a 1:3 risk/reward ratio to offset my lack of accuracy in picking winners. 100 pips seems reasonable trading on these higher timeframes. I also move my stop to lock in profits when I can.

But if I were to give advice that I am confident in giving, it would be to make money management our prime concern. Never risk more than 3% of your equity...
Thanks Wally for the tips on money management, you will be surprised yourself that I'm a "newbie". This should be my 12th post! I now have +41pips on my GU.

I always like to have a good technical reason for taking a trade decision, the reason must be free of my emotional thought. This is what I'm training myself to do.
  • #13,679
  • Edited 9:23am Jul 21, 2010 8:56am | Edited 9:23am
Attachment Hello again,

I'm attempting to create some trading checklists for buying and selling using the SonicR manual techniques. I have one for Buying and a second for Selling. I used the original SonicR manual for these instructions and just put them in a one-page format for ease of reading and use. Just print several or have them laminated for re-use as you master these techniques. Hope these are helpful, especially for new SonicR traders.
Attached File(s)
File Type: zip SonicR Buy Sell Worksheets.zip   362 KB | 969 downloads
  • #13,680
  • Jul 21, 2010 9:24am Jul 21, 2010 9:24am
Quoting fxbr56
Hello again,

I'm attempting to create some trading checklists for buying and selling using the SonicR manual techniques. I have one for Buying and a second for Selling. I used the original SonicR manual for these instructions and just put them in a one-page format for ease of reading and use. Just print several or have them laminated for re-use as you master these techniques. Hope these are helpful, especially for new SonicR traders.
These are excellent fxbr. I have printed them and will place them next to all my computers for reference. Thanks for your work and the clarity.
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