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Sonic R. System

  • #15,521
  • Dec 2, 2010 12:05pm Dec 2, 2010 12:05pm
Quoting traderathome
Yes, it is due to the volume data coming from a different broker/server. Volume data from the network of forex servers is not shared, and therefore is not a market wide representation of the number of trades each time frame. What you and I get is only the number of trades per TF as processed thru our own broker/server. And remember too, that it is the number of trades. The size of the trades is not disclosed.....sad, but true! It is just another way the Central Banks and brokers place retail traders at a disadvantage. In this day and age of computers,...
No offence, but I disagree.
None of them want us to fail, we fail on our own and blame them.

No doubt there are malpractices, but then in which business there aren't?
Forex trading is the most liquid and once mastered there is no business like it.

We may have disadvantages as retail traders, but aren't we in similar situation if we own a small store compared to any big store or dept store?
Naturally, bigger the buyer, better the prices and services. Being bigger has its advantages.

There is no central clearing for forex, so its ok the volume and trade sizes are not disclosed as it becomes corporations/brokers/banks internal information, which I guess is business secret, unlike stocks where it goes through central clearing and it's regulated so there is more transparency than forex.

One thing I have learned is never to trade without a SL, no matter how big, without one the whole account works as SL.
  • #15,522
  • Dec 2, 2010 12:28pm Dec 2, 2010 12:28pm
Hi Everyone

Can you guys just give me a thumbs up if this is a correct entry and exit on USDCAD M15.

If not then please explain.

Many Thanks



ab1

Attached Image (click to enlarge)
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  • #15,523
  • Dec 2, 2010 12:38pm Dec 2, 2010 12:38pm
Quoting Doncex
Im in gbp/jpy short

Looks like good situation.

gbp/jpy reached +81 pips !
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  • #15,524
  • Dec 2, 2010 1:34pm Dec 2, 2010 1:34pm
Quoting ab1
Hi Everyone

Can you guys just give me a thumbs up if this is a correct entry and exit on USDCAD M15.

If not then please explain.

Many Thanks



ab1

Attachment
Although you do not have the vLines for market times on your chart, from my chart it is apparent you waited until after the London open to trade. Wise. And you were rewarded with a pop up creating a definate lower H, and you apparently entered near the bottom of the candle that came back down out of the Dragon. Perfect. Your exit looks too have been too soon, causing you to miss extra pips. Or maybe you rode out the next upswing and just decided to get out at that level as it was on the way back down. I can't tell from your chart. So I can't comment further about that. But it was a patiently waited for setup, and when it finally came you traded it and was profitable. So......
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  • #15,525
  • Dec 2, 2010 1:40pm Dec 2, 2010 1:40pm
By the looks of the posts today, it was a good day for Sonikers! So many had their fingers in one pie or another, and with good results. Congratulations to all that were profitable today....
  • #15,526
  • Dec 2, 2010 2:02pm Dec 2, 2010 2:02pm
Kevinchan must have taken to heart the H4 AU chart previously posted, which is attached unaltered. I'm not sure he made a SonicR entry on the trade, but he apparently stalked it, waited, and pounced when he thought the time was right. And even a conservative SonicR entry would have netted 70 pips just up the the RgL.

Anyway, the AU Bull Channel did its' thing, and Kevinchan profited!

Congratulations, Kevinchan!
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  • #15,527
  • Dec 2, 2010 4:38pm Dec 2, 2010 4:38pm
Quoting traderathome
Although you do not have the vLines for market times on your chart, from my chart it is apparent you waited until after the London open to trade. Wise. And you were rewarded with a pop up creating a definate lower H, and you apparently entered near the bottom of the candle that came back down out of the Dragon. Perfect. Your exit looks too have been too soon, causing you to miss extra pips. Or maybe you rode out the next upswing and just decided to get out at that level as it was on the way back down. I can't tell from your chart. So I can't comment...
Hi Traderathome

Thanks for the comments, a couple of things.

1) You mention a popup alert, dont seem to be getting those, not sure why, I am currently just looking for these swings manually. What inidcator provides the alarm?

2) Entry was at 0915 GMT, I made my exit when price went against me and knocked out the previous swing low at 1.01863. I thought that was the exit, when would you have got out please ?

Cheers


ab1
  • #15,528
  • Edited 6:42pm Dec 2, 2010 6:32pm | Edited 6:42pm
On EurJpy H1 there is a slight shampoo pattern (head and shoulders)
The last up move was unable to make a higher high, and the big whicks
as shown by the arrows, represents a hesitation in moving higher.
Some downmove expected as price still lurking around the 110.67 resistance level. We may get a SonicR entry on TF M15 later.
BTW I would not recommend to enter a SonicR trade as we are well out of the recommended trading hours.
Attached Image(s) (click to enlarge)
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  • #15,529
  • Dec 2, 2010 6:43pm Dec 2, 2010 6:43pm
Quoting PositivePiP
On EurJpy H1 there is a slight shampoo pattern (head and shoulders)
The last up move was unable to make a higher high, and the big whicks
as shown by the arrows, represents a hesitation in moving higher.
Some downmove expected as price still lurking around the 110.67 resistance level. We may get a SonicR entry on TF M15 later.
Nice post, PosititivePip. Thank you for that. Attached is M15, a view which makes PA look sort of flat for some time now....in a 100ish pip range for over a day. The longer it ranges, the stronger the breakout will likely be.

In this M15 view, PA has constructed a nice WAVE and is in the EP zone now. Sure, it is well before prime hours, but since running flat, the breakout could come at any time. It has happened before in the asian session.

I am already short this from yesterday, at 110.66, but this is a situation I thought Sonikers should be alert to. Apparently you did too, PositivePip. So, again, thank you for the "heads up".
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  • #15,530
  • Dec 2, 2010 6:55pm Dec 2, 2010 6:55pm
Quoting traderathome
....In this M15 view, PA has constructed a nice WAVE and is in the EP zone now.....
Further, the 4H shows a potential for a new wave down. I know Sonic is not used so much in longer TF's, but here at least provides good perspective.
Attached Image (click to enlarge)
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  • #15,531
  • Dec 2, 2010 7:02pm Dec 2, 2010 7:02pm
Quoting ab1
Hi Traderathome

Thanks for the comments, a couple of things.

1) You mention a popup alert, dont seem to be getting those, not sure why, I am currently just looking for these swings manually. What inidcator provides the alarm?

2) Entry was at 0915 GMT, I made my exit when price went against me and knocked out the previous swing low at 1.01863. I thought that was the exit, when would you have got out please ?

Cheers


ab1
ab1, since you defined not just the level, but the time of EP and TP, I say you were "right on" for both! Very admirable, especially on the discipline of making the exit when you did.

I can see I will be learning from your posts. Keep such as those coming!

Regarding a "pop up". I don't recall saying there was one. I have not seen one, nor is there any in the indicators. If you have not surmised from your reading thus far of the thread, you will eventually come to know that we Sonikers do things the old fashioned way.....by hand. PA, Dragon, Trend is it, together with the ongoing task of disciplining ourselves and honing our skills reading PA and S&R. SonicR is effective because it is elegantly simple, and we keep it that way.
  • #15,532
  • Dec 2, 2010 7:14pm Dec 2, 2010 7:14pm
Quoting TradeWell
Further, the 4H shows a potential for a new wave down. I know Sonic is not used so much in longer TF's, but here at least provides good perspective.
Thank you, TradeWell!

In Sonic's The Secret of Sonic R" (I think that is the title, at least it should be).....one of the first pdfs., he reveals the H4 candle formations (example: Bullish Engulfing) that best support the M15 SonicR setup. And he has, right along, continued to recommend looking to the higher TFs (H4, Daily) for any indication of support for a SonicR setup.

My Weekly chart (or its predecessor from last February) I have continued to post from time to time to help remind of the possible real force at work on this pair.
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  • #15,533
  • Dec 2, 2010 7:45pm Dec 2, 2010 7:45pm
EU:

The attached M15 view shows PA has returned to a previous range, though this time slightly tighter with the center shifted a tad lower (or so it seems). The FR study is applied to the range H/L boundaries (determining where they are is the hard part, and where error creeps in). From this study, should the PA move down (you could reverse the FR study and do the same for a move up) the FR expansions provide target levels.

In this case, the 424% level stands out. It is 200 pips below the current high (which could change), is aligned with the dip in the 89 ema, and fits as a SR line within the bottom range. It is marked with a green rectangle, and looks to be a TP area worth considering if a move down happens.

BTW, I applied the FR study similarly to the bottom range so you could see the effectiveness of the FR expansions.
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  • #15,534
  • Edited 9:23pm Dec 2, 2010 8:02pm | Edited 9:23pm
EJ Again:

With FR study applied to range for expansion level targets. Note nice WAVE pattern. Again PA is in EP zone. Is this going to get monotenous?
Edit: Updated chart. Geez, this looks like it could fall at any time! And, I guess this is a perfect example why NOT to enter a trade during the asian session, but instead wait for the high volume London open/close span of time. Why? Because setups can look PERFECT, but go nowhere. And if you enter, you'll be a sitting duck for a reverse move once the prime time trading starts! Asian "setups" remind be of the saying about racing cars......it's not how good they look that counts, it's how they run! (...and for that, we need the high octane volume of prime time trading.)
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  • #15,535
  • Dec 2, 2010 8:12pm Dec 2, 2010 8:12pm
Quoting traderathome
EJ Again:

With FR study applied to range for expansion level targets. Note nice WAVE pattern. Again PA is in EP zone. Is this going to get monotenous?
According to the low volume I would not expect significant movement at least for the next 2-3 hours.
BTW I am also short from 110.60 on this pair. Will let the market decide anyway.
  • #15,536
  • Dec 2, 2010 9:38pm Dec 2, 2010 9:38pm
Quoting kevinchan
No offence, but I disagree.
None of them want us to fail, we fail on our own and blame them.

No doubt there are malpractices, but then in which business there aren't?
Forex trading is the most liquid and once mastered there is no business like it.

We may have disadvantages as retail traders, but aren't we in similar situation if we own a small store compared to any big store or dept store?
Naturally, bigger the buyer, better the prices and services. Being bigger has its advantages.

There is no central clearing for forex, so its ok the volume...
TAH gave us important point that, the volume only reflect the trading activity (Not turnover in terms of dollar amount) from our broker. Therefore, the volume is not necessarily reflect the Big Boys PPM, Since the most of the Big Boys are not dealing with retail brokers. It’s more likely when the PA hit the major S/R level triggers the system orders.
seeing through
  • #15,537
  • Dec 2, 2010 9:51pm Dec 2, 2010 9:51pm
Quoting kevinchan
No offence, but I disagree.
None of them want us to fail, we fail on our own and blame them.

No doubt there are malpractices, but then in which business there aren't?
Forex trading is the most liquid and once mastered there is no business like it.

We may have disadvantages as retail traders, but aren't we in similar situation if we own a small store compared to any big store or dept store?
Naturally, bigger the buyer, better the prices and services. Being bigger has its advantages.

There is no central clearing for forex, so its ok the volume...

Kevin’s post reminded me the old saying in Hong Kong Kongfu movies: “the true sword master is the one with the sword in mind, without a sword in hand”. I have read most of TAH’s post, and found that, he implements his stop strategy within his overall MM and trading strategy, his method is nothing like how the textbook described. This method works for him, but could dangers for those traders not yet in the mater level.
seeing through
  • #15,538
  • Dec 2, 2010 9:57pm Dec 2, 2010 9:57pm
I am not in EJ Trade and won't be trading today due to NF & other news.

Here's what I see (as attached). I think 110.00/110.20 holds the key.
I prefer the upside or sell in 112+ area.

Lets see how it plays out.

Kevin
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  • #15,539
  • Dec 2, 2010 10:09pm Dec 2, 2010 10:09pm
Quoting pipphunter
Kevin’s post reminded me the old saying in Hong Kong Kongfu movies: “the true sword master is the one with the sword in mind, without a sword in hand”. I have read most of TAH’s post, and found that, he implements his stop strategy within his overall MM and trading strategy, his method is nothing like how the textbook described. This method works for him, but could dangers for those traders not yet in the mater level.
I know Tah keeps a mental stop, I do the same while on screen, but once away, I keep a random large hard stop just in case and believe me it saves me plus I have peace of mind that my max loss is set. I can sleep well!

I hope I haven't offended anyone, just speaking my mind out. Tah is pro and
we are no where close to him. Infact we have similarities, averaging, mental stops, simple setups. I am glad I found this thread...way to go!
  • #15,540
  • Dec 2, 2010 10:31pm Dec 2, 2010 10:31pm
Quoting traderathome
Kevinchan must have taken to heart the H4 AU chart previously posted, which is attached unaltered. I'm not sure he made a SonicR entry on the trade, but he apparently stalked it, waited, and pounced when he thought the time was right. And even a conservative SonicR entry would have netted 70 pips just up the the RgL.

Anyway, the AU Bull Channel did its' thing, and Kevinchan profited!

Congratulations, Kevinchan!
Thank you!

AU daily chart attached. Lets see if today's candle close below or above the TL. I prefer the upside, or it may spike up and close below, lets see what happens. I am not in trade and won't be trading today. Let the market show the direction!

Kevin
Attached Image (click to enlarge)
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