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Sonic R. System

  • #24,761
  • Aug 11, 2011 7:13am Aug 11, 2011 7:13am
Quoting hansma
Daily triangle getting tighter and tighter - might suggest a 750 pip run
Yeehaw! Time for me to trash the bear, throw the saddle on the Bull, and ride, ride, ride!
(So, will Benanke keep his "promise" to keep the USD from strengthening against the euro? Can you believe anyone these days?)
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  • #24,762
  • Aug 11, 2011 7:19am Aug 11, 2011 7:19am
Quoting hansma
Plz check some of Tahīs latest posts - itīs described there.

AND PEOPLE IN GENERAL PLEASE BE SO KIND AS TO FOLLOW UP ON THE THREAD EVERY DAY BY READING PAST ENTRIES - MOST OF YOUR QUESTIONS ARE ALREADY ANSWERED...
Welcome to the "Club", Nanodo!
  • #24,763
  • Aug 11, 2011 7:20am Aug 11, 2011 7:20am
Quoting hansma
Fib Tool Strikes Again
Oohhhh Yeaahhh...

The difficult thing is to know indentify the right wave...

The rest...let the market to decide or...let the fibo-tool to work

Thanks man....again...i love your advice...you've changed my trading vision (sonic too of course)...i can see the market a little more clear now.

Learning a little more every day.

Regards.
"Being picky only cost your time - not MONEY"...Hans
  • #24,764
  • Aug 11, 2011 7:25am Aug 11, 2011 7:25am
Quoting traderathome
I have cancelled the SL on this trade! I am tired of this SL bullshit! I don't think I can trade successfully with a SL, not unless I set it a few hundred pips away, which is what I might start doing. Each time I set a SL, I feel I am putting a big red circle on my trade, for the Market to target. And based on results, they hit it pretty good! When I enter a trade, it is because I believe in it. If I am right, I will make money. If I am wrong, I will lose money. But, at least I get to decide when to close the trade, based on "current events",...
Hi TAH. This post scares me quite a bit....I fear one bad call on your part and you will blow your account, and maybe many, without SL. What is different about putting SL in and a TP.

A TP and SL are basically the same thing - an educated "guess" on what the market will do. The TP is where you "think" the market will go if you are right. The S/L (at least to me) says my analysis was wrong and the key to minimizing losers.

If the market runs to a sl there is a good chance that something was missed, key s/r, misreading the wave, whatever.

I am learning the entries and exits for this system, but I have my MM down pat. I may post a chart or 2 tonight showing visually my SL thoughts if interested. I go into a trade and don't know for certain if I will win or lose, but I do know a few things for certain:

1) How much money I will lose if I the trade goes against me (assuming broker honors S/L).
2) I have 2 or 3 scenarios in my head on where my S/L goes next - If it goes here, I do this...If it stalls I cut out whatever...

One key thing for me is to protect my capital - and I think S/L is a key to that.

Sorry to intrude, but I fear that you will go broke if you don't come to terms with how to apply and manage your S/L - and removing or loosening the initial stop should never ever happen - it is playing with fire.
  • #24,765
  • Aug 11, 2011 7:33am Aug 11, 2011 7:33am
GU:

Entered short, EP = 1.6149.
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  • #24,766
  • Aug 11, 2011 7:38am Aug 11, 2011 7:38am
Quoting Donkey
Hi TAH. This post scares me quite a bit....I fear one bad call on your part and you will blow your account, and maybe many, without SL. What is different about putting SL in and a TP.

A TP and SL are basically the same thing - an educated "guess" on what the market will do. The TP is where you "think" the market will go if you are right. The S/L (at least to me) says my analysis was wrong and the key to minimizing losers.

If the market runs to a sl there is a good chance that something was missed, key s/r, misreading the wave, whatever....
Donkey, I very much look forward to such posts. And thank you for expressing your concern. For all the time I have been trading, I have never been able to wrap my arms successfully around the use of a SL. I'd like to.

-tah
  • #24,767
  • Aug 11, 2011 7:40am Aug 11, 2011 7:40am
A serious question - does anyone here still bother with the original SC rule of no trading during 3 hours before NY opens?

Or is it something to pay attention to, but make exceptions for good setups?

Would really appreciate any opinions.
  • #24,768
  • Aug 11, 2011 7:42am Aug 11, 2011 7:42am
Quoting lemna
A serious question - does anyone here still bother with the original SC rule of no trading during 3 hours before NY opens?

Or is it something to pay attention to, but make exceptions for good setups?

Would really appreciate any opinions.
Please post link to where you find that rule!

-tah
  • #24,769
  • Aug 11, 2011 7:45am Aug 11, 2011 7:45am
Quoting traderathome
Donkey, I very much look forward to such posts. And thank you for expressing your concern. For all the time I have been trading, I have never been able to wrap my arms successfully around the use of a SL. I'd like to.

-tah
IMO, It's not the problem of the SL, the problem is the time and the direction of the entry. how many percentage of your trade with the PA go your way in the next wave move, if less than 50%, then you need to work on trade selection, not removing the SL,
seeing through
  • #24,770
  • Aug 11, 2011 7:46am Aug 11, 2011 7:46am
Quoting traderathome
GU:

Entered short, EP = 1.6149.

I think is not a good idea...

Just my opinion.

Take a look.

Anyway....good luck for you.
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"Being picky only cost your time - not MONEY"...Hans
  • #24,771
  • Aug 11, 2011 7:50am Aug 11, 2011 7:50am
Quoting pipphunter
IMO, It's not the problem of the SL, the problem is the time and the direction of the entry. how many percentage of your trade with the PA go your way in the next wave move, if less than 50%, then you need to work on trade selection, not removing the SL,
EXACTLY!!! MORE PICKY!!!

An exercise could be good for all the sonickers with the TAH problem:

1. Trade just the EU a month.
2. Try force you to do max 3 trades every week
3. Remove all the indis, vol, etc...just the PA the dragon and s&r

You'll learn to be picky so!!!!
"Being picky only cost your time - not MONEY"...Hans
  • #24,772
  • Edited 8:11am Aug 11, 2011 7:59am | Edited 8:11am
Quoting pipphunter
IMO, It's not the problem of the SL, the problem is the time and the direction of the entry. how many percentage of your trade with the PA go your way in the next wave move, if less than 50%, then you need to work on trade selection, not removing the SL,
Good point, piphunter. Most of 'em are trades not started after the London session has begun, but at other times such as in the asian session or late in the US session.

Still, I am grateful of any SL management "method" demonstrated as being successful by postings, as it is the single most negected topic as concerns being discussed in any detail.

-tah
  • #24,773
  • Aug 11, 2011 8:03am Aug 11, 2011 8:03am
EU bounce back very fast, can we see HL or restest on 1.4108 ?
  • #24,774
  • Aug 11, 2011 8:05am Aug 11, 2011 8:05am
Quoting alrightfrank
here's how he applies the fibonacci extension : #24643
Thanks you. But this picture I saw, I wanted that you have laid out a picture where in options to change parameters to receive the same levels (an input, an exit, stop) Thanks
  • #24,775
  • Aug 11, 2011 8:10am Aug 11, 2011 8:10am
Quoting traderathome
Yeehaw! Time for me to trash the bear, throw the saddle on the Bull, and ride, ride, ride!
TAH.. is not a bull or bear..
He is simply just Sonic's opposite..

When I was Bull...all he does is short EU..adding shorts whenever EU run up..
Now when I just started to be Bear.. he is a Bull now,,,

My short is already is already @ BE.. No new shorts for me for now..
Sonic
  • #24,776
  • Aug 11, 2011 8:10am Aug 11, 2011 8:10am
Quoting WW The Saint
EU bounce back very fast, can we see HL or restest on 1.4108 ?

It was a bounce of the lower daily trendline
"The future is already written in the past"
  • #24,777
  • Aug 11, 2011 8:10am Aug 11, 2011 8:10am
TAH, it was post number 12 of this thread - one of Sonic's first posts.
http://www.forexfactory.com/showthre...20#post2280820


1. Nice Trading time periods, that have major movement.... UK is the main centre of Forex and UK/US session overlap has a lot of movement too....

Trading Time
1AM - 4 AM EST (UK session)
7AM - 11 AM EST (US session)
  • #24,778
  • Aug 11, 2011 8:15am Aug 11, 2011 8:15am
what's your opinion now, Sonic? Price get rejected hard at 1.41x area as your expected? Buying the pullback would be good?
  • #24,779
  • Aug 11, 2011 8:16am Aug 11, 2011 8:16am
Eur/Chf passing 550 pips Crazy
"The future is already written in the past"
  • #24,780
  • Aug 11, 2011 8:20am Aug 11, 2011 8:20am
Quoting hansma
It was a bounce of the lower daily trendline

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