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Sonic R. System

  • #23,721
  • Edited 8:41am Jul 22, 2011 8:09am | Edited 8:41am
200 pips secured + scalps,,
im off for this week ,party time ,,
see you all next week Good weekend


aligater
born to speculate
  • #23,722
  • Jul 22, 2011 8:09am Jul 22, 2011 8:09am
As I sit,,I saw a nice possible CT SC short set up on EU...

But I do not take it...

1. CT
2. It is Friday..

I would rather be out of the trade rather than wishing I was out...

http://static6.businessinsider.com/i...age-losers.jpg

Sonic
  • #23,723
  • Jul 22, 2011 8:12am Jul 22, 2011 8:12am
Quoting sonicdeejay
As I sit,,I saw a nice possible CT SC short set up on EU...

But I do not take it...

1. CT
2. It is Friday..

I would rather be out of the trade rather than wishing I was out...

http://static6.businessinsider.com/i...age-losers.jpg

Sonic

I took it
but thats me,,
aligater
born to speculate
  • #23,724
  • Jul 22, 2011 8:30am Jul 22, 2011 8:30am
Quoting ddaytrader
TAH, you have done so very much for Sonic, SonicR, and all of us Sonikers. It is now time for us to do something for you: I pledge, here and now, to do everything I can to help you achieve your goal of trading pure SonicR. I want all other Sonikers to make and keep the same pledge with me. When you stray from the path that Sonic has marked out for us in the first post of this great thread, it will be my duty to you to help show you the way back to that path.




Let us start right here, my friend - [b][u][i]Lifting your stop loss is not SonicR...
ddaytrader,

Thank you for this post. And for your caring. I have been reading....and re-reading it. And reflecting. My thoughts gravitated to my reasons for not setting, or moving a set SL. And time permitting this weekend, I will post on this in hopes that whatever ensues by virtue of assistance from you, and others, it will get me on the right track with the right attitude.

I am committed to trading pure SonicR. And I have no problem with doing so without any volume indicator. So, that is one hurdle easily overcome.

I have trades stacked up on several pairs, which I won't consider trading more until those trades are closed. EU is one. And the alternative is opening yet an additional account. I might do this only to trade EU, and only when I believe I am ready to trade pure SonicR correctly.

So, ddaytrader, I appreciate what you are doing, and see it as an opportunity to kick myself into gear, and get it right.

Thank you, my friend,
-tah
  • #23,725
  • Jul 22, 2011 8:36am Jul 22, 2011 8:36am
Quoting aligater
TAH
we want to help you ,but it is not possiblle, with all due respect if you are not helping yourself first,,,,,,,,,
I see no reason why add on this Aud Usd trade,,
please help yourself.

aligater
Well, no matter that it was a poorly managed trade. As things stand, a 50% pullback is more than I need to BE considering the level of EP2. That was the reason. And if the pullback is less, but reasonable, it will still nicely reduce the loss.
  • #23,726
  • Jul 22, 2011 8:37am Jul 22, 2011 8:37am
dday trader, what do you do with regards to SL TP TSL etc.

do you use a trailing stop of a fixed TP?

do you have a risk reward ratio?

do you part close?

do you add to winning positions - scaling or pyramiding?

do you go for indicator led exits or fixed numbers in pips?
  • #23,727
  • Jul 22, 2011 8:55am Jul 22, 2011 8:55am
UJ:

I should not be in this trade. It is not pure SonicR.

1. Entered before LO.
2. At/after LO, there was no proper PA Wave for either a SonicR long, or short trade.

I feel like kicking myself for making another pre-LO trade. Had I waited, I could have seen there was no SonicR long setup, just an asian session head fake that looked like one. It is not a SonicR setup if it is not a London session setup. It makes a big difference in results.
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  • #23,728
  • Jul 22, 2011 8:57am Jul 22, 2011 8:57am
Quoting sonicdeejay
I would rather be out of the trade rather than wishing I was out...

http://static6.businessinsider.com/i...age-losers.jpg

Sonic
Quoting traderathome
I have trades stacked up on several pairs, which I won't consider trading more until those trades are closed. EU is one. And the alternative is opening yet an additional account.
There is another alternative - close your losers before the close today, start the weekend and next week with fresh eyes.

Sonic's post above, I would bet, was intended in no small part for you, our Sonic partner.

The phrase he paraphrased, I believe, is this: "It is better to be out of the market wishing you were in, than in the market wishing you were out."

If it were me, TAH, I'd close those losers, take my lumps, and get to the hard work of being a profitable trader with solid rules and sound money management.

You need a fresh start my friend, but as Aligater said, only you, yourself, can start you on that path.

Good Luck, buddy,

-ddaytrader
  • #23,729
  • Edited 7:24pm Jul 22, 2011 8:59am | Edited 7:24pm
Quoting traderathome
UJ:

I should not be in this trade. It is not pure SonicR.
Close it! Don't kick yourself. Don't hope for a reversal of fortune. Do not add loser upon loser.

Close it and move on.

Let's move on together, TAH.

-ddaytrader
  • #23,730
  • Jul 22, 2011 9:00am Jul 22, 2011 9:00am
Quoting aligater
I took it
but thats me,,
aligater

Suggestion:: U should TP 1 or SL @ BE,,


Sonic
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  • #23,731
  • Jul 22, 2011 9:00am Jul 22, 2011 9:00am
Quoting stimpy
dday trader, what do you do with regards to SL TP TSL etc.

do you use a trailing stop of a fixed TP?

do you have a risk reward ratio?

do you part close?

do you add to winning positions - scaling or pyramiding?

do you go for indicator led exits or fixed numbers in pips?
Are you asking about my SonicD (daily TF pyramid trades), or SOnicR day trading?
  • #23,732
  • Jul 22, 2011 9:22am Jul 22, 2011 9:22am
Quoting ddaytrader
Are you asking about my SonicD (daily TF pyramid trades), or SOnicR day trading?
day trading initially, i havent seen your daily TF pyramid trades and do you hedge or take the loss (hedging gets messy).
  • #23,733
  • Jul 22, 2011 9:23am Jul 22, 2011 9:23am
Quoting traderathome
UJ:

I should not be in this trade. It is not pure SonicR.

1. Entered before LO.
2. At/after LO, there was no proper PA Wave for either a SonicR long, or short trade.

I feel like kicking myself for making another pre-LO trade. Had I waited, I could have seen there was no SonicR long setup, just an asian session head fake that looked like one. It is not a SonicR setup if it is not a London session setup. It makes a big difference in results.
The problem is not about trading time, but the setups itself. TAH, I have a suggestion for you to take better setups. Watch for historic price action peaks/valleys. Avoid trades when significant low is just ahead of your entry point when taking a long trade, and when high is ahead of ep when taking a short trade. Those first setups on u/j and a/u are not the best ones. I have drawn the red line which acts as s&r.
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  • #23,734
  • Jul 22, 2011 9:27am Jul 22, 2011 9:27am
@traderathome

Close the fucking trade, you can do it TAH.

I love you!!!
  • #23,735
  • Jul 22, 2011 9:30am Jul 22, 2011 9:30am
Quoting ott256
The problem is not about trading time, but the setups itself. TAH, I have a suggestion for you to take better setups. Watch for historic price action peaks/valleys. Avoid trades when significant low is just ahead of your entry point when taking a long trade, and when high is ahead of ep when taking a short trade. Those first setups on u/j and a/u are not the best ones. I have drawn the red line which acts as s&r.

would you go short on a move beyond the retracement?
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  • #23,736
  • Jul 22, 2011 9:31am Jul 22, 2011 9:31am
e/u counter trend short trade hit tp @ 1.4333
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  • #23,737
  • Jul 22, 2011 9:38am Jul 22, 2011 9:38am
Quoting ott256
e/u counter trend short trade hit tp @ 1.4333

Is the EU trade a proper Sonic. you don't show a 89 MA and on mine it wasn't down but at about 0 degrees as as it went below it? Would you use the 89 MA as a entry level?
  • #23,738
  • Jul 22, 2011 9:39am Jul 22, 2011 9:39am
Quoting ott256
The problem is not about trading time, but the setups itself. TAH, I have a suggestion for you to take better setups. Watch for historic price action peaks/valleys. Avoid trades when significant low is just ahead of your entry point when taking a long trade, and when high is ahead of ep when taking a short trade. Those first setups on u/j and a/u are not the best ones. I have drawn the red line which acts as s&r.
Ott256, in both those cases, it was the close proximity to S&R, and with a nice PA wave to back the move thru, that I saw as good, .....that price was breaking thru the S&R areas.....a breakthru being the SonicR setup breakout.

Had this been during the London session, it probably would have. This is exactly the difference between what looks like a good setup, but in the asian session, and a true setup in the London session. Setups are like racing cars. It is not how good they look, but how they run! London session setups tend to run well; asian session setups much less so.
  • #23,739
  • Jul 22, 2011 9:43am Jul 22, 2011 9:43am
With resistance level shown. 89 MA is down as is dragon. you def have a possible 3 part to part 4. how do you play this? Does the Volume say anything?
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  • #23,740
  • Jul 22, 2011 9:55am Jul 22, 2011 9:55am
Quoting TRMZXT
With resistance level shown. 89 MA is down as is dragon. you def have a possible 3 part to part 4. how do you play this? Does the Volume say anything?
1. time in session is running out with only about an hour to go, and since Friday, things may wind down early.

2. PA shows support down there in the quarter number area, and a bit above.

3. stopping volume on US session run down points to this area being good support.

Taking this all into consideration, I'd not be anticipating more downside in the hours left in this last day of the week. I am waiting to see if there might be a nice bounce again, up from this support area.
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