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Sonic R. System

  • #25,781
  • Aug 31, 2011 1:29pm Aug 31, 2011 1:29pm
AU:

If PA drops out of this marked S&R range, there might be some tradeable pips down today.
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  • #25,782
  • Aug 31, 2011 1:40pm Aug 31, 2011 1:40pm
GU:

This one too, might yield a run down, even though getting late in the day.
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  • #25,783
  • Aug 31, 2011 1:44pm Aug 31, 2011 1:44pm
Quoting traderathome
UChf:

SL reached.

EP= 0.8190, minus SL= 0.8135, minus spread, equals net loss of 60 pips.

Dear Tah,

Looking at this setup, why on earth would you want to long into daily and 4 hour resistance = def not Sonic R / Neither s+r trading / Neither fib tool trading - I would recommend looking for shorts at those levels. You did check them before entering long right ?

H.
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"The future is already written in the past"
  • #25,784
  • Aug 31, 2011 1:58pm Aug 31, 2011 1:58pm
Quoting hansma
Dear Tah,

Looking at this setup, why on earth would you want to long into daily and 4 hour resistance = def not Sonic R / Neither s+r trading / Neither fib tool trading - I would recommend looking for shorts at those levels. You did check them before entering long right ?

H.
They were both trades from yesterday. I should have taken modest profit on UCad then. Went to bed. Woke late this morning to find them stopped out. Well, on the positive side, I did have a SL on these. I'm making progress with honoring the SL. I need to accept more modest gains,...take the money and run.
  • #25,785
  • Aug 31, 2011 2:15pm Aug 31, 2011 2:15pm
GU:

Entered short, EP= 1.6248.
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  • #25,786
  • Aug 31, 2011 2:24pm Aug 31, 2011 2:24pm
Quoting traderathome
They were both trades from yesterday. I should have taken modest profit on UCad then. Went to bed. Woke late this morning to find them stopped out. Well, on the positive side, I did have a SL on these. I'm making progress with honoring the SL. I need to accept more modest gains,...take the money and run.
Tah my friend,

Yes they were trades from yesterday - but the levels shown were still there before you entered long - so no excuse on that part.

Questions still stand.

1. why did you enter into R ?

2. not knowing if your tp´s would be valid - above R Daily and 4 hour ?

3. trying to force price to do something ???

4. On the positive side of things you mention you did have a Sl - Yes ALWAYS have a SL.

4a the SL would only have been needed for a scalp into the Daily and 4 Hour R area, and then CLOSE the trade.

Regards,
Hans

p.s Geez i´m beginning to sound like DD - but I know we both mean well to all sonicers.
"The future is already written in the past"
  • #25,787
  • Edited 2:45pm Aug 31, 2011 2:29pm | Edited 2:45pm
AU:

Entered short, EP= 1.0676.
Edit: Stopped out for net loss of 24 pips.
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  • #25,788
  • Aug 31, 2011 3:07pm Aug 31, 2011 3:07pm
Quoting hansma
Tah my friend,

Yes they were trades from yesterday - but the levels shown were still there before you entered long - so no excuse on that part.

Questions still stand.

1. why did you enter into R ?

2. not knowing if your tp´s would be valid - above R Daily and 4 hour ?

3. trying to force price to do something ???

4. On the positive side of things you mention you did have a Sl - Yes ALWAYS have a SL.

4a the SL would only have been needed for a scalp into the Daily and 4 Hour R area, and then CLOSE the trade.

Regards,
Hans

p.s Geez...
UCad had lots to go up before hitting the range high for the week, and sufficient pips even to the range high for the day to make the trade. Decent pips were on the board, but I left the trade to run.

UChf had less to go to the range high for the week and day, but it had a good looking PA wave, and had been running up well. I considered the possibility the previous M15 high would be taken out, a breakout.

All I see is that I was trading what looked to be valid setups, but the Market came back and decided to make me wrong.
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  • #25,789
  • Edited 7:08pm Aug 31, 2011 3:21pm | Edited 7:08pm
Quoting hansma
Tah my friend,

Yes they were trades from yesterday - but the levels shown were still there before you entered long - so no excuse on that part.

Questions still stand.

1. why did you enter into R ?

2. not knowing if your tp´s would be valid - above R Daily and 4 hour ?

3. trying to force price to do something ???

4. On the positive side of things you mention you did have a Sl - Yes ALWAYS have a SL.

4a the SL would only have been needed for a scalp into the Daily and 4 Hour R area, and then CLOSE the trade.

Regards,
Hans

p.s Geez...
Hans, and look....., here is the same frigg'in setup almost. And I am tempted to take it again. See, there is lots of pips to the high for the week. And when the Market decided to make me "wrong", I was right, but had the misfortune to be using a SL..... From the looks of the volume study, the Market simply whipped the price down, stole all of the long positions from others that were using SLs (including mine), and brought the price right back up again. I was right from the beginning. And the SL cost me my position, which would be in profit again right here, and cost me all those pips down to the SL.

In fact, the volume study says to me that the Market gave everybody a few days to load up on longs, down at the lows. Then with a whipsaw, in about an hour, the Market stole all those longs from everybody that had SLs on 'em!

I am trying to stay with using a SL, but when I see shit like this, let alone have it happen to me, I get madder than hell! I have a buy order set for EP @ 24.

Comments?
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  • #25,790
  • Aug 31, 2011 3:47pm Aug 31, 2011 3:47pm
Quoting Doncex
Hi all
Im waiting long setup on eu (fa+ta) fellas
eu hit sl 45 pips
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  • #25,791
  • Aug 31, 2011 4:01pm Aug 31, 2011 4:01pm
UCad:

Entered long (again), EP= 0.9778.
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  • #25,792
  • Aug 31, 2011 4:10pm Aug 31, 2011 4:10pm
Quoting traderathome
.... And when the Market decided to make me "wrong", I was right, but had the misfortune to be using a SL...I was right from the beginning. And the SL cost me my position, which would be in profit again right here, and cost me all those pips down to the SL.

Comments?
TAH, it does not work that way. You only see that price has now rallied back into the range where you initiated your trade. Price could just as easily have continued to fall thousands of pips over the next few weeks, months, or even years, and thus not revisit your EP area for a long, long time. You were smart to have had a stop loss.
  • #25,793
  • Aug 31, 2011 4:16pm Aug 31, 2011 4:16pm
Quoting traderathome
.... I should have taken modest profit on UCad then. Went to bed. Woke late this morning to find them stopped out. Well, on the positive side, I did have a SL on these. I'm making progress with honoring the SL. I need to accept more modest gains,...take the money and run.
TAH, your stop loss is there to cut your losses short. The TP's are there to let your profits run. It is the only way. If you start taking "modest profits" you will go broke, as your profits will not cover your losses. You know the old saying, that "you can't go broke taking a profit"? Well, maybe you won't go broke taking one modest profit, but if you start making that a habit, you will find yourself on the wrong end of the equity curve.

It is ok to take a loss.

By the way, I agree with Hans - your trade selection sucked. Be more picky and thorough in your analysis and you will find yourself loving SL's and calmly awaiting PA to hit your fat, FAT TP's!
  • #25,794
  • Aug 31, 2011 4:20pm Aug 31, 2011 4:20pm
Quoting traderathome
At least two things come into play when looking for a proper PA wave setup:

1. The HLs, as in L-H-HL for a long setup and as in H-L-LH for a short setup.

2. Support and resistance, because preferably you want the PA wave to represent a passing thru of an S&R area, with a pullback and bounce to continue the move. The first picture shows some ways this might happen.

Watch PA when it comes to an S&R area. There is where to look for PA waves that might lead to a SonicR setup. We just have to wait for setups to occur. For example, the second picture...
GU:

First chart is from yesterday. Second chart we see how the PA went. Third chart is possibility for today.
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  • #25,795
  • Aug 31, 2011 4:22pm Aug 31, 2011 4:22pm
Quoting ddaytrader
EJ Short ... for TAH ... let the market decide
I had one TP, and it was hit for +81 pips. I put the levels back on the chart to show the EP level, SL level, and TP level.

Also note the trendline that was broken upon entry and the way it acted like a regression channel centerline containing price action while it decided whether to drop or not.

The first chart is the trade as I posted it last night as Asia opened.

The second chart is what it looked like this morning when I woke up.

The third chart is how it looked when I snapped a pic to make this post. Again, since the trade is now closed, I repainted the EP, SL, and TP levels so you can see how PA played out.
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  • #25,796
  • Aug 31, 2011 4:50pm Aug 31, 2011 4:50pm
AU:

Entered short, EP= 1.0686.
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  • #25,797
  • Aug 31, 2011 5:32pm Aug 31, 2011 5:32pm
Quoting hansma
Dear Tah,

Looking at this setup, why on earth would you want to long into daily and 4 hour resistance = def not Sonic R / Neither s+r trading / Neither fib tool trading - I would recommend looking for shorts at those levels. You did check them before entering long right ?

H.
Following your recomendation...the UC is now in a past resistance (now support) Would be this a good point to look for longs if the london show us a nice wave?

Regards,
Nando.
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"Being picky only cost your time - not MONEY"...Hans
  • #25,798
  • Edited 6:25pm Aug 31, 2011 5:56pm | Edited 6:25pm
Quoting ddaytrader
I had one TP, and it was hit for +81 pips. I put the levels back on the chart to show the EP level, SL level, and TP level.

Also note the trendline that was broken upon entry and the way it acted like a regression channel centerline containing price action while it decided whether to drop or not.

The first chart is the trade as I posted it last night as Asia opened.

The second chart is what it looked like this morning when I woke up.

The third chart is how it looked when I snapped a pic to make this post. Again, since the trade is now closed,...
Good trader. Good trade. Good presentation.

Now that the market has traded it down out of the range from Tuesday and Wednesday, I am thinking a pullback will occur up until some time in the upcoming London session. A pullback might take it to the bottom area of that range. On the chart, I've placed FE(c) in that area. It can easily be relocated based on what actually does happen. As it stands, such a pullback yields FE 127% and 138% target levels exactly aligning with two extreme lower wicks on this H1 chart.

I am thinking the only question is where exactly will the pullback end/what targets will be indicated?

ddaytrader, what do you think about all this, having just completed a good trade on it?
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  • #25,799
  • Aug 31, 2011 7:03pm Aug 31, 2011 7:03pm
Dear Tah,

Just looking at your Au short, and cannot work out why short yet?Been following thread for along time and love Sonic R but always wondering how some of the entries seem so early. (Not just yours Tah) Regards to all from Australia.
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  • #25,800
  • Aug 31, 2011 7:04pm Aug 31, 2011 7:04pm
Quoting stevebrown
Hi alrightfrank, I'll let you know what I did... perhaps it will help you. You're right, if you zoom out, it is possible to see the lines you seek, but check the following settings in the 'SonicR Chart Panel' Indicator settings...
Part 1
"Levels_on": True
"Pivots_DPV_Lines_on": True
"Pivots_DSR_Lines_on": True
"Range_Lines_on": True
Part 4
for each line that ends in ..."_Display_Number": 4
"Display_4_Shift_Right": default is 46, try 25

then zoom the chart in, or out, to see the effect...
thanks so much steve but i already tried this but still it wont show up the Rgl & Rgh on my M15 screen, well anyways ill just settle myself just to check it on a higher frame w/c is a bit hassle though... thank you mate
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