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Sonic R. System

  • #21,681
  • Jun 15, 2011 5:47pm Jun 15, 2011 5:47pm
Quoting traderathome
EU:

If the BBs pump it to the upper whole number, I am going to add a SS short ES2.
Great trades today TAH, I've been following this thread a while now and quite interested how you enter these Sonic Scouts (SS). It seems that was the only way to catch the EU , EJ moves. I was looking for standard entry's during London/ NY yesterday (14th) and didn't happen and switched on platform for London today to find huge Asia moves but couldn't see a sonic entry. Would like to learn more how you decide these SS entries.

Do you build the positions with smaller lot sizes as you add more Entries the further price goes against you, unlike standard entries which have defined stop loss above/ below wave high/ low. How do you define your risk with SS where's your limit when you would finally take a loss.
  • #21,682
  • Jun 15, 2011 5:50pm Jun 15, 2011 5:50pm
Hi TAH,

the EUR/GBP example is great and clarifys everything you tried to explain.

This example is copied in my trading manual!

Best regards and thanks for your help,

DL
  • #21,683
  • Jun 15, 2011 5:56pm Jun 15, 2011 5:56pm
Quoting DoubleL
Hi TAH,

thanks for your kind help.

I changed the indicator-settings of SonicR Chart Panel black/white by doing what you said (inserted the value "-2" in the line: DST_Server_GMT_Offset ).
Thank you for this attentive advice!
Now the lines fit with the opening hours.

The chances you marked on the EU chart were valid setups?
None of the 3 chances touched with leg 3 the dragon. I thought that the PA of leg 3 has to touch the DRAGON to derive the proper ENTRY level?
Did I get something wrong?

Best regards,

DL
DoubleL, the PA forms WAVEs. We want a nice WAVE showing that PA is breaking or bouncing at some significant S&R area. The Dragon is used with PA to determine an entry area. The WAVE can, at some point, intersect the Dragon, but there are no specific requirements about this.
  • #21,684
  • Jun 15, 2011 6:05pm Jun 15, 2011 6:05pm
Quoting traderathome
BennyFX, you might want to call IBFX about their volume data.....Complain! If enough customers do that, maybe they will "fix" so it doesn't happen again. It would be really BAD, if somewhere along the line the volume data was intentionally corrupted because they knew the day would be a tip top day/big moves.

Personally, I'd tell them that they were "Customer Unfriendly" to not notify you that some part of MT4 would not be telling you the truth! They owe it to their customers to be sure if something is not right, that the customers know...
You are right. They should at least be worried about it and tell their customers.

I wrote to their helpdesk!
  • #21,685
  • Edited 6:42pm Jun 15, 2011 6:22pm | Edited 6:42pm
Quoting spacePip
Great trades today TAH, I've been following this thread a while now and quite interested how you enter these Sonic Scouts (SS). It seems that was the only way to catch the EU , EJ moves. I was looking for standard entry's during London/ NY yesterday (14th) and didn't happen and switched on platform for London today to find huge Asia moves but couldn't see a sonic entry. Would like to learn more how you decide these SS entries.

Do you build the positions with smaller lot sizes as you add more Entries the further price goes against you, unlike...
SpacePip, and folks, what is all this talk about huge asian session moves and no entries in the London session?????

Attached are two charts, EJ and EU. Clearly there were SonicR entry opportunities. What is the problem?

Alas, SpacePip, perhaps the single biggest drawback to my experiment in trading since last November, has been all the questions it provokes....over and again, by new people coming into thread. It is tiring. At this point I will just say (and I have lost count of the number of times I have said it), I trade very small relative to account size. I do so, so I can add or not, whenever I feel like it, and so I can hold as long as I want to (whether that is good or bad).

On the postitive side, the results are that I have multiple entry trades on EJ, EU, AU and UChf that are still negative. However, I could close them out without lots of damage considering that practically every completed trade in this experiment has been profitable, with an average profit above 50 pips each. I should not be surprised that when the experiment ends, I have made over 250 trades, with less than twenty not profitable.

On the negative side, trading small is not a way to make quick big bucks. It borders on lack of good utilization of capital. It won't appeal to many. Also, I keep getting questioned about this.....over and over and over and over and over......
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  • #21,686
  • Jun 15, 2011 6:49pm Jun 15, 2011 6:49pm
Quoting traderathome
DoubleL, the PA forms WAVEs. We want a nice WAVE showing that PA is breaking or bouncing at some significant S&R area. The Dragon is used with PA to determine an entry area. The WAVE can, at some point, intersect the Dragon, but there are no specific requirements about this.
I am a bit confused. Sorry for that, maybe I have an error in reasoning or understanding problems in language. For explanation: I am from Germany and english is not my first language.

I got the part with the PA and that they form WAVEs.
Also got the part that the WAVE should break or bounce at some important S&R area.
What I don't understand yet is that you are writing that "the Dragon is used with PA to determine an entry area" and the rules for entry is: The ENTRY should be several pips below the end of the first price candle that exits the Dragon during Leg #3 of the WAVE.

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In this 3 chances that you marked today on the EUR/USD, there is no one a price candle that exits the Dragon.

Or is in this example of you just the PA and the formation of the WAVE important (price sinks lower than previous low -> break of important support-level) with no consideration of the DRAGON for the entry, except that the main rules that price is under Dragon and Dragon is headed down (for short setup) are met.

I hope some patience is left.

Best regards,

DL
  • #21,687
  • Jun 15, 2011 6:56pm Jun 15, 2011 6:56pm
AU;

Entered long at 1.0584, anticipating a move up to the 1.0625 area, which is just a guess. Will have to wait and see. Nice volume increase as price broke up out of range. Not truely SonicR. Yes, WAVE, but entered before price made it thru above Dragon.
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  • #21,688
  • Jun 15, 2011 7:51pm Jun 15, 2011 7:51pm
Had a SS CT trade near 70 region.. Now we r 90..

Hoping to get 70 pips this..

Watching like a hawk..as it is CT and non recommend hours..

Sonic
  • #21,689
  • Jun 15, 2011 8:04pm Jun 15, 2011 8:04pm
Quoting traderathome
AU;

Entered long at 1.0584, anticipating a move up to the 1.0625 area, which is just a guess. Will have to wait and see. Nice volume increase as price broke up out of range. Not truely SonicR. Yes, WAVE, but entered before price made it thru above Dragon.
AU:

Added to long, EL2 = 1.0574.
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  • #21,690
  • Jun 15, 2011 8:28pm Jun 15, 2011 8:28pm
Quoting traderathome
AU:

Added to long, EL2 = 1.0574.
AU:

Added EL3 = 1.0564. Finished. Can only wait now.
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  • #21,691
  • Jun 15, 2011 8:29pm Jun 15, 2011 8:29pm
AU;

Here is an easy way to see this. It might not work out, but here it is.

PA is bouncing up off of a half number S&R area (see WAVE). As things stand now, EP is just above Dragon....close in, which is good. There is a TP, based on recent historical PA S&R, within the average range. Here is some speculation.....since the run down yesterday was powerful, the target for an upside move might best be conservative for today. The setup shown is for about 60 pips from EP to TP. And you could consider RgH as TP2 for about 85 pips, if it keeps running up past the TP shown.

The setup does look good, but this is not yet the London session, drats! The London session could pull PA back down a bit before a run up......or maybe not. Anyway, it might be worth keeping an eye on, just in case it does make a move up.
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  • #21,692
  • Edited 9:30pm Jun 15, 2011 8:41pm | Edited 9:30pm
Quoting DoubleL
I am a bit confused. Sorry for that, maybe I have an error in reasoning or understanding problems in language. For explanation: I am from Germany and english is not my first language.

I got the part with the PA and that they form WAVEs.
Also got the part that the WAVE should break or bounce at some important S&R area.
What I don't understand yet is that you are writing that "the Dragon is used with PA to determine an entry area" and the rules for entry is:[font=&quot] The ENTRY should be several pips below the end of the [color=red]first price...
The true initial WAVE came before the London session, on a move down thru a half number. PA moved slightly down thru half number (leg1), moved up to/thru it (leg2) and into Dragon. Then PA dropped back down out of Dragon (leg3). It was at the beginning of this drop that the true initial EP existed. The problem was that this all occurred before the London session. Everything in the London session is "re-entry" stuff, and so the legs #3 of the WAVEs are far less likely to align with the Dragon, and don't need to.

I can only add this. On a perfect Sonic R. System setup, the WAVE will overlay the Dragon, in the London session, and WAVE leg #3 will contain the PA price bar that is used with the Dragon to determine the entry area. Most setups, however, are somewhat less than perfect. So, read the thread. Study the trade examples shown. See and understand why some worked out and some did not. This is not science, which has exacting laws. This is trading, ....a lot of variables, unknowns and intentional deceptions.

Hope this helps.

Edit: Add 2nd chart showing possibility for today.
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  • #21,693
  • Jun 15, 2011 9:02pm Jun 15, 2011 9:02pm
Quoting traderathome
AU:

Added EL3 = 1.0564. Finished. Can only wait now.
AU:

Have placed order for EL4 = 1.5054, but probably will not execute.
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  • #21,694
  • Jun 16, 2011 1:51am Jun 16, 2011 1:51am
Quoting bennyFX
anyone else seeing this strange low volume bars today?

I am with IBFX
bennyfx,

wasup with that low volume. mine is fine. any agendas there?
"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #21,695
  • Jun 16, 2011 1:57am Jun 16, 2011 1:57am
Quoting samuelngugi
bennyfx,

wasup with that low volume. mine is fine. any agendas there?
Am using fxcm demo for charting..
Look fine

Sonic
  • #21,696
  • Jun 16, 2011 2:13am Jun 16, 2011 2:13am
Quoting traderathome
The true initial WAVE came before the London session, on a move down thru a half number. PA moved slightly down thru half number (leg1), moved up to/thru it (leg2) and into Dragon. Then PA dropped back down out of Dragon (leg3). It was at the beginning of this drop that the true initial EP existed. The problem was that this all occurred before the London session. Everything in the London session is "re-entry" stuff, and so the legs #3 of the WAVEs are far less likely to align with the Dragon, and don't need to.

I can only add this. On...
Probably the other major factor stopping me enter yesterday was the Range being close to daily average, with hindsight a re-entry was great but at the time was not to expect a 280+ pip day, my mistake was waiting for deeper retrace and pattern near the dragon so I have learned a lot from these posts thanks
  • #21,697
  • Jun 16, 2011 2:37am Jun 16, 2011 2:37am
while this (chart) just can become an long setup on EU, I'm wandering is it ok. my worries are about no major support below PA. that thik red line I draw comes from few higher chart summits from May. but we have an resistance at 1.4160-1.4170 level.

what others are thinking about it?

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  • #21,698
  • Jun 16, 2011 3:03am Jun 16, 2011 3:03am
Quoting samuelngugi
bennyfx,

wasup with that low volume. mine is fine. any agendas there?
I wrote an email to Interbank FX. They have data issue I guess.
  • #21,699
  • Jun 16, 2011 4:38am Jun 16, 2011 4:38am
Quoting traderathome
EU:

037 pips profit on ES2 = 1.4199 closed at 1.4160.
102 pips profit on ES3 = 1.4264 closed at 1.4160.

This leaves ES1 = 1.4129 of this group still running.
EU:

52 pips profit on ES1 = 1.4129 closed at 1.4075.
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  • #21,700
  • Jun 16, 2011 4:46am Jun 16, 2011 4:46am
Quoting traderathome
EU:

Added here at 1.4130, for EP average = 1.4110.
EU:

10 pips profit on this trade (average = 1.4110) just closed at 1.4098.
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