Attachments: Sonic R. System

Sonic R. System

#25,381
Aug 24, 2011 1:24pm Aug 24, 2011 1:24pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

Quoting traderathome

Disliked

UJ:

This is a Classic SonicR long setup.

I am already long on this for two days, have added my third part today just above the lows and will hold over the weekend.

Ignored

UJ:

".....and will hold over the weekend." -

Ended up holding over two weekends. Finally, some life is breathed into this carcass of a pair. I'm taking my leave before it decomposes.

Trade closed at 77.01....

15 pips net profit on EP1 = 76.84.
36 pips net profit on EP2 = 76.63.
45 pips net profit on EP3 = 76.56.

....for 94 pips net profit.

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#25,382
Aug 24, 2011 1:40pm Aug 24, 2011 1:40pm

TRMZXT
| Joined Mar 2006 | Status: Trader | 792 Posts

sheesh head and shoulders on a 1M LOL

ooops grabbed the wrong pic...

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#25,383
Aug 24, 2011 1:43pm Aug 24, 2011 1:43pm

PipPipPip
| Joined Jan 2009 | Status: Trader | 1,259 Posts

Anyone here trade ej/gj pairs? Tah, can you do a demostration trade on EJ and GJ?

#25,384
Aug 24, 2011 1:50pm Aug 24, 2011 1:50pm

TRMZXT
| Joined Mar 2006 | Status: Trader | 792 Posts

going to take a nap... SL set above .500 FIB numbers and previous trendline and that is a lot of resistance. because we know they like that number.

#25,385
Edited 2:12pm Aug 24, 2011 1:59pm | Edited 2:12pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

Quoting PipPipPip

Disliked

Anyone here trade ej/gj pairs? Tah, can you do a demostration trade on EJ and GJ?

Ignored

I picked EJ. Hope it helps. I don't trade GJ, except maybe very rarely. BTW regarding EJ, the run may not be over. It might be in pause/consolidation mode for awhile, and then go higher. Resistance might turn out to be support, maybe after a bit of waffeling around this whole number area.

Regards,
-tah

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#25,386
Edited 3:35pm Aug 24, 2011 2:22pm | Edited 3:35pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

UCad:

Might be a good "Watch List" item....

1. been ranging for quite some time
2. today the price was spiked down with ensuing high activity that eventually brought the price back up

I put the FE study on the chart to simulate a PA wave, but one that has not happened. I'd look for PA to pullback downwards (asian session?) to create a higher low, something like that which is simulated. And then stalk it for a Sonic R. long setup.

Keep in mind that anything can happen up to the next LO. This is a rough plan.

Regards,
-tah

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#25,387
Aug 24, 2011 3:40pm Aug 24, 2011 3:40pm

TRMZXT
| Joined Mar 2006 | Status: Trader | 792 Posts

Been trading the NZD alot lately with good success. News at 6:45 and at the resistance area with the dragon.

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#25,388
Aug 24, 2011 3:50pm Aug 24, 2011 3:50pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

Quoting TRMZXT

Disliked

Been trading the NZD alot lately with good success. News at 6:45 and at the resistance area with the dragon.

Ignored

NU:

Using M15 Dragon & Trend Line on H1 eliminates a lot of noise. Clearly, both are angled down and are now below the Wednesday pivot. I like the way the FE Study (nice work by hansma, BTW) shows the initial target groups down near the Range Day Low area. Of course, this will adjust at the new day in about 10 minutes.

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#25,389
Edited 4:36pm Aug 24, 2011 4:02pm | Edited 4:36pm

ddaytrader
Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts

Quoting traderathome

Disliked

... I still believe placing a SL is a crap shoot. You might have one close that does not get hit, and you might have one 50-100 pips out that PA runs thru like nobody's business! PA is driven by devious minds, and there is no technical for that aspect of the business that we can use to help us decide where to place a SL...

Ignored

TAH, if you understand the classic SonicR, then how can you say that there is no technical basis for a stop loss? The problem you might have is that you trade spot forex with a bucket shop that plays games with its customers. But in the real world of real markets, including forex futures, technical rule the day 99% of the time.

It is very simple: If you are going long because there was a low, foloowed by a high, followed by a higher low followed by a higher high, then you are wrong if price goes below the low of the initial low.

If you go short because price rallied into a high, made a low, rallied to a lower high, and then made a lower low, then the set up is busted if price takes out the initial high.

It does not matter what price does after that - even if price does come back, stop you out, and then drop like a rock, it is nothing other than a busted set up. No problem ... just move on to the next one. I do agree that bucket shop traders need to take into account the spread when setting their stop losses (and EP orders as well). But you have got to stop thinking that there is a nefarious "They" who are out to get you. If that were true, then there would be no hope of any of us beating the market. And let me tell you brother, I take plenty of losses, and I am beating the market by a country mile week after week.

ddaytrader, have stop loss, will travel

#25,390
Edited 5:16pm Aug 24, 2011 4:16pm | Edited 5:16pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

Quoting ddaytrader

Disliked

TAH, if you understand the classic SonicR, then how can you say that there is no technical basis for a stop loss? The problem you might have is that you trade spot forex with a bucket shop that plays games with its customers. But in the real world of real markets, including forex futures, technical rule the day 99% of the time.

It is very simple: If you are going long because there was a low, foloowed by a high, followed by a higher low followed by a higher high, then you are wrong if price goes below the low of the initial low.

If you go short...

Ignored

ddaytrader, good post. And I thank you. I particularly am comforted by....

"It is very simple: If you are going long because there was a low, foloowed by a high, followed by a higher low followed by a higher high, then you are wrong if price goes below the low of the initial low.

If you go short because price rallied into a high, made a low, rallied to a lower high, and then made a lower low, then the set up is busted if price takes out the initial high." -

I am just not sure about how to take into account that the price will frequently spike opposite the trade direction, or should I say whipsaw, all too frequently to such a degree as to take out all such sensibly placed SLs. And it happens most when the ensuing run in the direction of the trade is very large. It is very hard to believe forex "bucket shops", as you call them, have anything to do with such price movements. Too much money is involved to make the price suddenly move so significantly. This is more like computerized hedge fund trading than any "bucket shop" broker trading. And placing the SL at those "initial" levels mean the greatest loss of pips when getting stopped out, not the least loss of pips,......just before the significant run.

Anyway, and as you can see, I am trying to stay with using the SL in a sensible manner. Maybe some day I will have the confidence in the use of the SL, that those that swear (#@&*#!) by the use of them have.

It would be nice to see, in ongoing fashion, some of your trades illustrating the use of the SL. I imagine they'd be good examples for learning. And I am sure I am not the only Soniker that is "weak" in the expert positioning of the SL.

#25,391
Aug 24, 2011 5:31pm Aug 24, 2011 5:31pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

Quoting traderathome

Disliked

EU:

Short, EP = 1.4422. The PA wave may change if PA continues higher, but this looks like a good place for entry since PA was worked back up to the Trend line.

Ignored

EU:

Lowered TP and added alternate TP. I am nervous about the SL being close, where it is. PA has been ranging. And if the Market decides to run the price down, it might also decide to whip it up first. And if the Market whips the price much past mid-range, the SL could be hit. Nevertheless, at this point I figure it better to lose 30 pips thereabouts, and maybe jump back in higher, than to lose 50-60 pips, and maybe jump back in lower!

Another strategy would be to try and pick the early asian session low. Close the trade for pips profit. Then wait for the likely pullup around LO to re-enter. Those already made extra pips add cushion against possible loss if SL of the re-entry is later hit.

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#25,392
Aug 24, 2011 5:46pm Aug 24, 2011 5:46pm

TRMZXT
| Joined Mar 2006 | Status: Trader | 792 Posts

Quoting traderathome

Disliked

EU:

Lowered TP and added alternate TP. I am nervous about the SL being close, where it is. PA has been ranging. And if the Market decides to run the price down, it might also decide to whip it up first. And if the Market whips the price much past mid-range, the SL could be hit. Nevertheless, at this point I figure it better to lose 30 pips thereabouts, and maybe jump back in higher, than to lose 50-60 pips, and maybe jump back in lower!

Another strategy would be to try and pick the early asian session low. Close the trade for pips profit. Then...

Ignored

I usually only use SL when I am away from the CPU. As I am always in the market based on Wave action and usually I am already in the down trend. if the two charts above my entry chart turns... I am out on the failed wave of the 2nd chart above me. Pretty simple really. Sure it might turn around but why waste time on a it coming back when the trend is clearly going the other way. I hear ya on the seeming ability to hit SL.

#25,393
Edited 6:59pm Aug 24, 2011 6:02pm | Edited 6:59pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

Quoting TRMZXT

Disliked

I usually only use SL when I am away from the CPU. As I am always in the market based on Wave action and usually I am already in the down trend. if the two charts above my entry chart turns... I am out on the failed wave of the 2nd chart above me. Pretty simple really. Sure it might turn around but why waste time on a it coming back when the trend is clearly going the other way. I hear ya on the seeming ability to hit SL.

Ignored

There is no "seeming ability" to it! I is a downright given that monied players (certain hedge funds, etc.) can make the price go where they want it to go, within reason, and that can mean 50-100+ pip swings. How? They use pending orders to do it, .......and their money. They just fill the imbalance of pending orders at all levels to where they want the price to go. And they do this all the time, when there is enough by way of SLs they can "liquidate" to instantly add liquidity to the market to fill their own orders, and when there are enough pending orders for them to take the opposite side of. So, if they spike the price up, they are filling at each level, the imbalance of orders to get to the next level. Along the way, they liqudate SL orders and also trigger other buyers at higher levels into the market, while they take the short side of everything available.

In other words, they "buy" up the price while shorting along the way, shorting opposite the longs they trigger into the market, and shorting with the liquidity of SL trades they liquidate! The imbalance of orders they had to fill adds up to some buys and some sells, which offers some cancellation right there. What they end up having paid out to buy the run up, some net buying at higher and higher prices ends up as insignificant to the profitablility of the net short position being built. Besides, once at the top, they can often simply hold the price long enough to close out those net buy orders at near the highest prices, meaning they might very well average a profit there, too! With a run up just happening, there are always some that think the price is going higher, and are willing to take that package of net longs!

A spike down is just the opposite procedure.

It is not by accident that spikes occur. It is not by accident that prices often swing wide one way, only to end up runing further the other way! It is trading "concerns" that create this kind of PA action, not accidents or acts of God. ddaytrader thinks that I think the folks behind such PA moves are nefarious, or evil. They might be, but it is the drive for profit that has them put on these PA moves one way, as a prelude to a run the other way.

There is no "seeming ability" about it! And "they" do exist. They definately have the ability; the money, the computer programs and the co-operating liquidity/data providers to carry it all off. And this is how "they" use money and connection to manipulate the price to get some of their positions built.

#25,394
Aug 24, 2011 7:01pm Aug 24, 2011 7:01pm

traderathome
Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts

EJ:

Entered long, EP = 110.96.

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#25,395
Aug 24, 2011 7:25pm Aug 24, 2011 7:25pm

sonicdeejay
| Commercial User | Joined Mar 2008 | 9,081 Posts

Quoting sonicdeejay

Disliked

Still in the trade..

http://www.youtube.com/watch?v=MSgnf...feature=relmfu

Sonic

Ignored

Close the trade with tp1 hit, and SL near BE..
Too choppy..

This is what happen when traders chasing traders..
Do not go in with small SL.. Ur sure to be taken out even ur direction is right eventually..

EU is back in flag again, I am neutral now..

Sonic

#25,396
Aug 24, 2011 7:40pm Aug 24, 2011 7:40pm

TRMZXT
| Joined Mar 2006 | Status: Trader | 792 Posts

Quoting traderathome

Disliked

EU:

Lowered TP and added alternate TP. I am nervous about the SL being close, where it is. PA has been ranging. And if the Market decides to run the price down, it might also decide to whip it up first. And if the Market whips the price much past mid-range, the SL could be hit. Nevertheless, at this point I figure it better to lose 30 pips thereabouts, and maybe jump back in higher, than to lose 50-60 pips, and maybe jump back in lower!

Another strategy would be to try and pick the early asian session low. Close the trade for pips profit. Then...

Ignored

I got out with 12 pips... Not wasting my time on that.

#25,397
Aug 24, 2011 7:44pm Aug 24, 2011 7:44pm

TRMZXT
| Joined Mar 2006 | Status: Trader | 792 Posts

Quoting traderathome

Disliked

There is no "seeming ability" to it! I is a downright given that monied players (certain hedge funds, etc.) can make the price go where they want it to go, within reason, and that can mean 50-100+ pip swings. How? They use pending orders to do it, .......and their money. They just fill the imbalance of pending orders at all levels to where they want the price to go. And they do this all the time, when there is enough by way of SLs they can "liquidate" to instantly add liquidity to the market to fill their own orders, and when there are enough...

Ignored

seeming ability was TIC. lol I hear ya!