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Sonic R. System

  • #20,641
  • May 18, 2011 2:18am May 18, 2011 2:18am
Quoting Basber
Where is your chart ?! It'll be very good to attach them so that other traders while reading posts in future, could use them as examples.

Regards,
Basber

sorry, i don't know why im not allowed to upload pictures, it always say error,maybe IP blocked, im in china!
  • #20,642
  • May 18, 2011 2:27am May 18, 2011 2:27am
Quoting sonicdeejay
Nice run up to overhead wall,,,

TP or SL @ BE now...

Vol look thin while running up, so price may pull back.....

Sonic
very very nice master

last fat candle - I start my observation

Attached Image (click to enlarge)
Click to Enlarge Name: enigma4x_eurusd_18_05_2011_04.jpg Size: 247 KB


enigma4x
enjoy my life ... and ride the waves - all what I do
  • #20,643
  • May 18, 2011 2:29am May 18, 2011 2:29am
Quoting enigma4x
very very nice master

last fat candle - I start my observation

Attachment

enigma4x
oh sh*t - bad english. i should be read twice



enigma4x
enjoy my life ... and ride the waves - all what I do
  • #20,644
  • May 18, 2011 2:41am May 18, 2011 2:41am
SS on EU...half of usual lot size.

let the market to decide.

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: _18-05-2011_eu.gif Size: 32 KB
"Being picky only cost your time - not MONEY"...Hans
  • #20,645
  • May 18, 2011 2:46am May 18, 2011 2:46am
any ideas on EU what we can expect - short or long setup now?

Attached Image (click to enlarge)
Click to Enlarge Name: sonic eu 0518 1045.jpg Size: 123 KB
  • #20,646
  • May 18, 2011 2:53am May 18, 2011 2:53am
Quoting kimis
any ideas on EU what we can expect - short or long setup now?

Attachment
let the market decide ...

I see no entry at the time - The moste trader lose, because they got no patience

Oh I forget - the texas in germany for trading is 25% - called "Abgeltungssteuer" ...

The german tax system is the most complicated in the world. if you realy think about it ... then you should be included the swiss in your tinking ...

enigma4x
enjoy my life ... and ride the waves - all what I do
  • #20,647
  • Edited 3:06am May 18, 2011 2:54am | Edited 3:06am
Quoting kimis
any ideas on EU what we can expect - short or long setup now?

Attachment
EU:

There is a clear S&R area to deal with. It is so close to the lower Dragon line that one could allow PA to move thru it before entering, and still enter within 20 pips of the Dragon lower line. And that would be one way to go about this to reduce being head faked.

PA could bounce up off this S&R area, and move further up. Also, PA could move down thru the S&R area, and later (US session) come back up and bounce off of it and move further down.

Waiting for the PA WAVE to show a bounce at some significant S&R area is always the best, least risky method.
Attached Image (click to enlarge)
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  • #20,648
  • May 18, 2011 2:55am May 18, 2011 2:55am
Quoting enigma4x
let the market decide ...

I see no entry at the time - The moste trader lose, because they got no patience

Oh I forget - the texas in germany for trading is 25% - called "Abgeltungssteuer" ...

The german tax system is the most complicated in the world. if you realy think about it ... then you should be included the swiss in your tinking ...

enigma4x
oh, thanks enigma how many germans are now in jail for thinking swissy ?

indeed it is complex. google translates it as "Flat tax". what is relation between FX trading and Flats ?
  • #20,649
  • May 18, 2011 3:01am May 18, 2011 3:01am
Sure you can comment TAH. This was the purpose of my post.
To discuss basic "soft skills" beside the trading system.

1.) I am referring to "tight SLs" in a way of that our losses have to be smaller then the gains (sounds logical). I was trading a system with very high hitrate but the gains have been small ones. Then severeal rare losses wiped out all the gains.

2) Overtrading in a sense of "chasing trades". Human nature gets tempted to see entry points where there are none. especially after a series of winners.

3) fine

4) "do not exceed that trade size just because things are going" --> Exactly!

Quoting traderathome
Can I comment on this, BennyFX?

1. tight SLs, let the winner ride.
Well, yesterday EU moved down at the London open, and then rose nicely . A tight SL would have been ok, but only if the long trader took profiits early, i. e., did not "let the winner ride". Because, then PA pulled back below Leg #1 of the WAVE. This would have hit a tight SL. And later, PA rose even higher. Based on this, I would have to say a tight SL is fine, but for a quick trade only.

2. don't overtrade.
What, exactly, is overtrading?. I think some definitions are needed...
  • #20,650
  • May 18, 2011 3:03am May 18, 2011 3:03am
Quoting kimis
oh, thanks enigma how many germans are now in jail for thinking swissy ?


great quest - I know a friend of mine, he gave the false answer to the goverment. Now he is paying a lot of money. The german law said, if you are more the 186 days in germeny, you have to pay the german taxes.
My friend say he was only 189 days in germany. He missed the right answer with 4 days ... (right answer would be less then 180 days - the safe one )



enigma4x
enjoy my life ... and ride the waves - all what I do
  • #20,651
  • May 18, 2011 3:18am May 18, 2011 3:18am
EJ:

Entered short. PA just fell thru a S&R area centered just above the half number. I have taken entry now, rather than wait for a more significant bounce down off this S&R area, because there is already a series of lower HLs since the highs of the asian session. Also, the most recent highs look like a bounce down off the upper whole number natural S&R area.
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  • #20,652
  • May 18, 2011 3:38am May 18, 2011 3:38am
Party Time
Attached Image (click to enlarge)
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enigma4x
enjoy my life ... and ride the waves - all what I do
  • #20,653
  • May 18, 2011 3:49am May 18, 2011 3:49am
Quoting traderathome
EJ:

Entered short. PA just fell thru a S&R area centered just above the half number. I have taken entry now, rather than wait for a more significant bounce down off this S&R area, because there is already a series of lower HLs since the highs of the asian session. Also, the most recent highs look like a bounce down off the upper whole number natural S&R area.
EJ:

Here is the test of the S&R area. I have taken a chance and made a second ES= 115.67 in this area.
Attached Image (click to enlarge)
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  • #20,654
  • May 18, 2011 3:53am May 18, 2011 3:53am
Ranging left and right...
So, take ur pick.

Sonic

P.S am I seeing mini M pattern. Bear..
  • #20,655
  • May 18, 2011 4:07am May 18, 2011 4:07am
Quoting sonicdeejay
Ranging left and right...
So, take ur pick.

Sonic

P.S am I seeing mini M pattern. Bear..
EU:

There is another S&R area being developed, marked with a blue line. Note the series of USD releases. This is not a prediction, but just a thought. Maybe the price will range until a catalyst, like one of these releases. Still, focusing on PA is best. And best here would be for PA to drop thru and then test/bounce down off of one of these S&R areas, if it is going down. If it is going up, then we already are getting multiple tests on this new S&R area, and need only wait for PA to clear previous highs.
Attached Image (click to enlarge)
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  • #20,656
  • May 18, 2011 4:18am May 18, 2011 4:18am
GU:

This is interesting. Note the thin red line. It looks like, for quite a while earlier, there were a lot of sell orders that kept the price from rising (ice berg orders pattern in the stock market). PA is well down now, dropping well in advance of the recent GPB High Impact release.....? Too late to go short, and too early to go long. I'd be looking for the US session to bring PA up for a bounce down off the S&R area.

That might not happen, but if it does it could be a nice short trade into tomorrow.
Attached Image (click to enlarge)
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  • #20,657
  • May 18, 2011 4:38am May 18, 2011 4:38am
Quoting nando_rich
SS on EU...half of usual lot size.

let the market to decide.

Regards.
1st half closed in S&R zone...banked 25pips
2nd half SL@BE

Regards.
Attached Image (click to enlarge)
Click to Enlarge Name: _18-05-2011_eu.gif Size: 38 KB
"Being picky only cost your time - not MONEY"...Hans
  • #20,658
  • May 18, 2011 5:03am May 18, 2011 5:03am
EU:

PA made another strike deep into/thru the S&R area. I have no idea how far it might go down from here. But I am determined to wait for a PA WAVE bounce down off of some S&R area, maybe something like depicted in the pic,.....which might happen with the US session. This waiting might cause me to miss out on a trade, but so be it.
Attached Image (click to enlarge)
Click to Enlarge Name: # may 18, 2011 - 137.gif Size: 33 KB
  • #20,659
  • May 18, 2011 5:20am May 18, 2011 5:20am
Quoting nando_rich
1st half closed in S&R zone...banked 25pips
2nd half SL@BE

Regards.
2nd half closed manually..+20pips...too coppy for me...bad timing for hold any trade.

We'll see that US sesion brings.

Regards.
"Being picky only cost your time - not MONEY"...Hans
  • #20,660
  • May 18, 2011 5:22am May 18, 2011 5:22am
Quoting traderathome
EU:

PA made another strike deep into/thru the S&R area. I have no idea how far it might go down from here. But I am determined to wait for a PA WAVE bounce down off of some S&R area, maybe something like depicted in the pic,.....which might happen with the US session. This waiting might cause me to miss out on a trade, but so be it.
Yeah...I agree...it's better wait for a clear wave if it happen.

Regards.
"Being picky only cost your time - not MONEY"...Hans
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