Sonic R. System

IMHO, UCad had a good buy stop area around 0.946X, above s&r, making this better setup than AU and UJ. It's a first price action high which places the entry point above dragon.

I agree what you said about london session momentum.


Have a good weekend

1

I understood you. But if I am going to turn you into a trader, you are going to have to talk like one. Timing, as used by traders, refers to judging market conditions as being appropriate for entering and exiting the market. You are currently obsessed not with timing, but with hours of operation. Fine, but we must then call it "hours of operation," or in your case, simply, "during the London session."

Here is how your post should read:

2

SonicR set ups do not have a "stop loss problem." You have the stop loss problem. The good news is that it seems you are finally aware that it is a problem, and that it is your problem.

3

You are an excellent coder and compiler of MT4 script. You are excellent at putting together incredibly complex templates of indicators to get the most information as possible into a chart.

You are not a good trader. Not yet ... I want to help you get there, but you must want to get there too.

The first thing you must do is stop allowing yourself to take everything personally - whether it is constructive criticism meant to help you or the market's price action itself.

You must humble yourself to the market. Your ego is large and easily offended. It is a common problem. I had the same problem and it was not until I came to see and accept my "smallness" in the face of the market that I was able to overcome my need always to be right and never to lose. You need to get there, TAH. Sonic, Basber, Muhammad, and I are there. We want you to join us. Come on, buddy, take our hand and come along for a truly SonicRide!

ddaytrader, if TAH cannot see the terrific value and service you are offering him and if he don't want to action on your offer, I would happily jump on your offer to make me a good trader.

Favorite Book ...

Many professional traders and famous traders have mentioned one of their favorite book is "The Disciplined Trader" (1990) by Mark Douglas.

I just borrowed what books I can find in the library on Mark Douglas and just finished reading 2 books.

Read "The Disciplined Trader", and did not really understand it and did not like the book. Possibly because this was Mark Douglas's first book, and just did not hit the spot for me.

Then there is "Trading in the Zone" (2000) by Mark Douglas.
Just finished reading this today.

All the books by Mark deal mainly with the mental aspects, and his books do NOT offer any technical systems, so don't look for technical systems in his books.

From "Trading in the Zone", below are some of my favorite quotations now, and I want to share them with you:


"Accepting the risk means accepting the consequences of your trades without emotional discomfort or fear."

"Each trade is simply an edge with a probable outcome, and statistically independent of every other trade."


"Only the best traders consistently pre-define their risks before entering a trade.
Only the best traders cut their losses without reservation or hesistation when the market tells them the trade isn't working.
And only the best traders have an organized, systematic, money-management regimen for taking profits when the market goes in the direction of their trade."


"We have to be rigid in our rules and flexible in our expectations."


Whether Mark Douglas is a good, average or bad trader in recent years, I would not know that detail.
What he wrote really shows he understand a trader's mindset, the book makes sense of a trader's mindset and help you to understand yourself much better even if you are not trading.

Before you take another live trade, recommend you spend some time just reading and absorbing "Trading in the Zone".

There are much more in that book, apart from my favorite quotations, I leave you the pleasure of reading the book yourself rather give you the summary.

Now my favorite book is ... "Trading in the Zone".

Traders helping traders is the SonicR Thread mission. I am willing to help anyone who is willing to adopt the proper attitude and help himself or herself.

Here is what I am going to do for you and anyone else willing to take the responsibility and do the work necessary to succeed with this system. I am going to start a series of posts here in the thread called "SonicSchool." In these posts, I am going to teach SonicR the way I would want it taught to me if I were just starting out.


Requirements:

1) An Open Mind

2) A Humble and Respectful Attitude, toward the market, your fellow Sonikers, and yourself

3) A SonicR Notebook: As I was learning to trade SonicR, my SonicR Notebook became a great study aid and learning tool. In this notebook, I kept print outs of charts, both my own as well as those shared by other Sonikers, Sonic pdf's, and posts printed from this great thread. If you want to get the most from your time in SonicSchool, a hard copy notebook that you can carry with you, study during free moments, read before you go to bed, will be essential.

4) Study this thread repeatedly, especially the posts by Muhammad, Basber, Domas, ddaytrader, and, of course, sonicdeejay. For the new Soniker, I highly recommend that you do an advanced search for Muhammad's posts, and go back to his very beginnings here inthe SOnicR thread, and read them in order. You will witness the development of a newbie soniker-in-training into a full fledged SonicR(ockstar) -Muhammad is perhaps the most pure, disciplined trader of the senior Sonikers. I consider him to be my superior.


WEEK ONE
Introductory Lesson: The Secret to SonicR


Today's introductory lesson is intended to set your focus correctly from the start. A common mistake by new Sonikers, including myself, is to be overly concerned with the indicators, the slopes of the MA's, the levels of the various indicators, and so on. This focus on the small picture lagging indicators is a big source of failure and heartache.


SonicR works because it is based primarily on price action: Wave analysis (highs/lows, higher highs/higher lows, lower hiighs/lowerlows), support & resistance, and, the real secret behind SonicR: trading by aligning the M15 Sonic Dragon minor trend with the Daily and H4 major trend.


I have attached two study materials to illustrate this point. Both of these should be printed and placed into your SonicSchool Notebook. The first is a chart recently shared by Muhammad. I think the chart is self-explanatory. It illustrates the Secret of SonicR quite nicely.


The second attachment is a pdf written by Sonic and shared with us a few years and 20,000 posts ago entitled, you guessed it, "The Secret of SonicR."


Muhammad's chart should become the cover of your SonicSchool notebook. I would further suggest that you print a second copy to hang above your computer terminal from which you trade as a constant reminder to you that the secret to your future success is going to be having the discipline to trade only when the M15 aligns itself with the H4 or Daily time frame, the patience to wait for these set ups, and the confidence in your analysis and the SonicR system to place your entry order (EP) your stop loss (SL), and your take profit levels (TP's), and then let the market decide.

I think Muhammad's chart example and notations so valuable, that I would suggest that you not only hang it above your computer in full view, but hang a framed copy of it - it is so good and valuable and important as to deserve a frame.


Sonic's pdf gives invaluable explanations and examples of how he himself uses the higher timeframes to give him the clues to trade SonicR most profitably. If Muhammad's chart is the cover illustration, then Sonic's .pdf is the foreward to your notebook, explaining to you what your goal is going forward: You must train yourself to read the higher time frame trend so that you know which direction you are to trade the SonicR on the M15.

Homework

1) Start your SonicSchool notebook
2) Study Muhammad's chart (attached)
3) Read and Study Sonic's "The Secret to SonicR" opdf (attached)
4) Pick four currency pairs, and identify the current Daily Trend and the current H4 trend (these may be the same or they may differ).
5) Identify thany M15 SonicR set ups on the M15 that you think you see, and then find that price action on the H4. How many are with the H4 trend? How many are counter to the H4 trend? Which trades performed best? Which performed least well?
6) Write, in your SonicSchool notebook, a trading plan for each of the four pairs. Your trading plan should be in the form of "IF pric does X, THEN I will do trade Y." For example:

"The trend on the daily has been sideways based on the daily Sonic dragon, and the trend on the H4 is currently up. I will look for a pull back to the 1.428x level +/-. IF price pulls back to that level, and IF that prior resistance holds now as support, THEN I will look for a SonicR long set up on the M-15. IF a SonicR short sets up, THEN I will treat it as a counter trend trade only, and I will use a set Stop loss and fixed Take Profit, respecting the H4 uptrend until that trend changes."

Follow the path I am going to lay before you, and if you have an open mind, a humble attitude, keep a SonicSchool notebook, studythis thread repeatedly, especailly the posts of the senior Sonikers, read and study the materials I present as important, and do the assignments I suggest, you will find yourself agreeing with this post of mine from July 31, 2009 - nearly two years ago to the day:

Good trading indeed!

ddaytrader

"SonicR: It has changed my life for the better. I hope it does the same for you. But you need to make it so, as no one can do it for you." - ddaytrader



"I want to give this message to people who are struggling in this business: You must acquire the knowledge that you need and the discipline to follow your trading plan, and the patience to wait for the perfect trade. Trading can be simple, but it isn’t easy. Trading success does not happen overnight. Successful trading requires knowledge, skill, and experience." Muhammad

Well my computer just fried and had to go out and get a new one, lost alot info due to not backing up shit but where can I download the new SonicR templates again if anyone can help ? Thanks

If you don't like me, why not put me on ignore. Does it make you feel "cool" to attack people?

take a look on his profile pic - u will find the answer.




enigma4x

And you're free to put me on ignore as well.

Tells me you havent even seen the video

and to quote yourself..

"Have a good weekend, and come back happy to see us on Monday, ok?"

I don't have to see it to know it isn't mine - but you labeled it that way. Take the "DD" off of it, and all is well.

why should I do this ?

u are doing a great job !!!

hater like hamsa or thiefs like TAH are on my ignore list, but you are a good people and real giver.

No - I see no reason to put ya on my ignore list.

My suggestion to ya give it up to teach TAH. He was ignored all helping hands in past. believe me I was given my best some times ago too. the answer was hate and arrogance

he ignore master sonic - the godfather of this thread. he is laughing about trader like sonic and me. there are tons of post in the past from these kid.

tell me one reason why he won´t ignore you ???

are you a better trader as master sonic ???

When you give him right, then you are a friend of TAH. the other side you are his enemy. I know a lot of people like TAH etc ...

I like ya post very much keep it up.

I understand it what you said about my english style. I´m sorry but my english is realy bad and limited. that is the reason for my poor words.

enigma4x

p.s. u are the reason that I don´t write the word f*** anymore here on sonic.

Peace brother, I judged too quickly

PipDizzle, Sonic still refers to 05-15-2011 release in Post#1. However, the last posted release was 07-16-2011:

http://www.forexfactory.com/showthre...75#post4785975

Hope this helps.

-tah

ddaytrader, homework,.........you mean something like this?

EURUSD

Daily
Taking a year into account, the trend has been up. However, for three months now the trend has been down, but with very wide swings.

H4
Price has been ranging, centered around 1.4250, and with some 400+ pip swings either side. The overall pattern has a downwards slope.


M15 Trading Plan
Because there is a bearish bias on both the Daily and H4, I will look for a short setup. The setup should appear for a break low thru the previous low 1.4325 area. There is 70+ pips from the previous low to the 1.4250 "centerline of oscillation" on the H4 chart, which would be a decent trade. For a long setup to be considered, it should appear for a break up thru the previous high 1.4436 area. If a long setup appears for a break up, but for a lower level, with the 1.4436 previous high area still above, and acting as resistance, I will not consider such a long setup.

TY

Yeah ... Back To School.

Thank you to our Principal and Head Teacher ddaytrader for launching "SonicSchool".

Yes, that is a good start. I really do like to have a clear "If ... Then" action statement, however.

For example, I am looking at the EUR/CAD daily chart.

EUR.CAD: Daily trend is down, and 2ROC (2 period Rate of Change) has turned down from +0 as of Friday's close after a spike high tested the 1.36XX prior support as resistance. IF price trades below Friday's 1.3580 low, THEN I will go short. My entry point will be 1.3580 or lower, my stop to loss will be 1.3689. IF price trends in my favor, THEN I will use the 2ROC to time additional short sales (adding to my already profitable position), targeting a test of the 1.2780 low print of January 2011. IF price trends unfavorably, THEN my stop loss will cut the loss short before it grows unmanageably large.

That is word for word, save for the parenthetical remarks) from my hand written notes on a printed daily chart of the EUR/CAD. Anyone reading that could execute my trade plan on that pair without any further communication or explanation from me. From your trade plan, it is unlikely another Soniker would have any idea what you might or might not do come Monday.

And, if I May suggest, TAH, that for the time being, you perhaps should conduct this exercise using a pair or pairs in which you do not already have a position. You need to conduct this free and clear of any undue influence. Right now, with your accumulated short position on the EU, you are perhaps finding the charts to be a bit more decisivley bearish than they in fact are.

I agree with you that there is both a bearish and a bullish case to me made.
But for SonicR purposes, I see price above a flat dragon on the daily timeframe, and this gives me a bullish bias. I see price above a now uptrending dragon on the H4, and this gives me a bullish bias. Short trades on the EU M15 would be counter trend with strict stop loss and TP at nearest prior resistance. I would be looking for long SonicR's on pullbacks to support.

I have found that it has made my life significantly easier when I decided that if I'm to be a Soniker, I'm to be one on all time frames. Therefore, I use the dragon to keep my own biases in check. For example, I have been bearish on the US Stock market for years, but I have traded the S&P futures 100% from the long side since mid-2009 as you cannot argue with that dragon when price has been above it for 500 of the last 600+ trading days!

In other words, keep it simple. Use the dragon and price's relation to it to clarify your trend bias. Kiss: Keep It Simple, Sonikers!

Let me ask you this: I do not day trade often, but as I decided to hang about the thread this week, I couldn't help myself. What do you think of this as far as a SonicR set up:

TAH, my fellow classmate, can I sit next to you ?
Coz like sitting next to best students.

Even though there are only 2 official students so far, waiting for more to join, by posting with their charts on other currencies, I will still want to sit next to TAH as you will become a top student.

Thanks TAH for your EUR/USD charts.
I will just re-use them in this post.
Hope you don't mind whenever we have opposing views.

Mechanical Rules:
=> Price Above Upper band Sonic Dragon is Long.
=> Price Below Lower band Sonic Dragon is Short.
=> Price Between Upper & Lower bands of Sonic Dragon is Wait.
=> Price way above or way below Sonic Dragon, be careful as trend may reverse.

EUR/USD:
Daily => Price Above Upper band Sonic Dragon is Long.
H4 => Price Above Upper band Sonic Dragon is Long.
M15 => Don't care where price is at the moment as is weekend. Wait for price to settle around Monday or Tuesday.
(a) Wait for a possible Seed Wave starting from price below Dragon moving to price above Upper Dragon for a possible Long, later entry.
(b) OR look for a Sonic Scout to form a Seed Wave with price below Dragon for a possible Long, earlier entry.

Looking for pullback around 1.4320 or 1.4250, prefer Long, not Short.
If price pull back to 1.4250, may re-evaluate to see if there is a Short.