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Sonic R. System

  • #26,001
  • Sep 6, 2011 1:25am Sep 6, 2011 1:25am
SNB in action - gutta luv it.

Maybe I need a bigger screen
"The future is already written in the past"
  • #26,002
  • Sep 6, 2011 1:26am Sep 6, 2011 1:26am
Quoting traderathome
UChf:

I entered long on Friday. Yesterday ddaytrader remarked of the potential for another long setup. The range has tightened; yesterday was a US Bank holiday. Support so far has been consistent. No one can know, but the next move up thru the Dragon could lead to a breakout move.

The H4 chart shows that the current ranging is not just supported by local SR shown on the M15. The ranging is about centered on a more significant SR area. After this ranging, if we get a move thru the top of the range, it could lead to a run up.

Therefore, this...
OH GOD...i wait you haven't fixed TP...LOL.
"Being picky only cost your time - not MONEY"...Hans
  • #26,003
  • Sep 6, 2011 3:36am Sep 6, 2011 3:36am
Quoting traderathome
Sunbrella, please post the .mq4 code file for the indy you are referring to. Thank you.
Hi TAH, pls check your PM.
Mind the gap
  • #26,004
  • Sep 6, 2011 3:53am Sep 6, 2011 3:53am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
who got in on this
Attached Image (click to enlarge)
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  • #26,005
  • Sep 6, 2011 3:57am Sep 6, 2011 3:57am
Quoting sam21
who got in on this
The banks and hedge funds...
"Being picky only cost your time - not MONEY"...Hans
  • #26,006
  • Sep 6, 2011 3:58am Sep 6, 2011 3:58am
Quoting nando_rich
Didn't you take the UC trade??

600pips up...
I did, and in my wildest dreams I didn't think the TP would have been hit by this morning... +267 pips at the TP

I took a screen shot to show the trade levels.

For anyone counting, that is three SonicR trades posted for +81, +100, and +267 pips for a total of 448 pips in the last week using SOnic money management with entry point based upon waves, stop loss based upon waves, and TP based upon S/R & Fibs. Placing a Sl is easy because you are either right or you are wrong. If any of those SL'a had been hit, I'd rather be out of the market than in it hoping for the best and adding to a losing posiiton.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDCHF H1 Bull Flag 4 +267 pips.jpg Size: 72 KB
  • #26,007
  • Sep 6, 2011 3:59am Sep 6, 2011 3:59am
Quoting nando_rich
The banks and hedge funds...

and ddaytrader using SonicR
  • #26,008
  • Sep 6, 2011 4:12am Sep 6, 2011 4:12am
Quoting ddaytrader
and ddaytrader using SonicR
Yes mate...congrats...sometimes we tend to overcompliate the things when it's realy simple.


Regards,
Nando.
"Being picky only cost your time - not MONEY"...Hans
  • #26,009
  • Sep 6, 2011 4:35am Sep 6, 2011 4:35am
Quoting traderathome
UChf:

Maybe some afternoon pips. If not, can close probably about where I started.

Entered long, EP= 0.7860.
UChf:

In the face of a possibly good move, my TP became tentative, and later ignored. I have just closed the trade manually.

Close= 0.8507, minus EP= 0.7860, minus spread, equals net gain of 641 pips.
Attached Image (click to enlarge)
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  • #26,010
  • Sep 6, 2011 4:38am Sep 6, 2011 4:38am
Quoting traderathome
UChf:
Close= 0.8507, minus EP= 0.7860, minus spread, equals net gain of 641 pips.
Impressive!

But how did you feel that it'll be something tremendous?
  • #26,011
  • Sep 6, 2011 4:47am Sep 6, 2011 4:47am
UCad:

Entered long, EP= 0.9916. Not much left in day range, so TP is tentative.
Attached Image (click to enlarge)
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  • #26,012
  • Sep 6, 2011 4:48am Sep 6, 2011 4:48am
Anyone out there preparing to go short SC on EURUSD?
Looks a bit dangerous to me after the big moves but its a correct set up (or could be about to be).
  • #26,013
  • Sep 6, 2011 4:52am Sep 6, 2011 4:52am
Quoting traderathome
UCad:

Entered long, EP= 0.9916. Not much left in day range, so TP is tentative.
BTW, what is the rule to calculate the day range?
  • #26,014
  • Sep 6, 2011 5:03am Sep 6, 2011 5:03am
NU:

Entered short, EP= 0.8302. TP is tentative.
Attached Image (click to enlarge)
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  • #26,015
  • Sep 6, 2011 5:16am Sep 6, 2011 5:16am
Quoting traderathome
UChf:...I have just closed the trade manually...
Nice pips, TAH. Too bad you closed that trade because it looks as though the US Dollar has finally bottomed and the trend is now going to be USD up and everything else down - the next SonicR long USDCHF should be a low risk high reward set up.

If you have a futures account, it is time to short the 6S/SF futures.

EU bulls beware as the USD rides again ...
  • #26,016
  • Sep 6, 2011 5:21am Sep 6, 2011 5:21am
Quoting ddaytrader
Nice pips, TAH. Too bad you closed that trade because it looks as though the US Dollar has finally bottomed and the trend is now going to be USD up and everything else down - the next SonicR long USDCHF should be a low risk high reward set up.

If you have a futures account, it is time to short the 6S/SF futures.

EU bulls beware as the USD rides again ...
It is good that I closed the trade. Whether nearer the eventual top for the day, or not, the pips were good and good enough to protect. As you said, "....no one knows...", a good description of just about every aspect of the market, including the possibility of a sudden pullback.

And, there will be more days, more trades.

BTW, I thank you again for your instructional post on this pair yesterday. That is the kind of stuff that adds great value to the thread for all traders.

-tah
  • #26,017
  • Sep 6, 2011 5:21am Sep 6, 2011 5:21am
Quoting traderathome
NU:

Entered short, EP= 0.8302. TP is tentative.
Same here.
  • #26,018
  • Sep 6, 2011 5:22am Sep 6, 2011 5:22am
Quoting traderathome
UChf:

In the face of a possibly good move, my TP became tentative, and later ignored. I have just closed the trade manually.

Close= 0.8507, minus EP= 0.7860, minus spread, equals net gain of 641 pips.
Good thing you weren't short with one of your tentative or not at all stop losses, right TAH?

This is why you must have a stop loss in at all times in foreign exchange - especially when you are going to trade against the waves rather than with them. Imagine you had gone short the EURCHF at 110.5x without a stop loss? How do you recover from an instant 1000+ pip loss? The answer is that you can't, because your broker would have margin called you and your account would be toast.
  • #26,019
  • Sep 6, 2011 5:27am Sep 6, 2011 5:27am
Quoting ddaytrader
Good thing you weren't short with one of your tentative or not at all stop losses, right TAH?

This is why you must have a stop loss in at all times in foreign exchange - especially when you are going to trade against the waves rather than with them. Imagine you had gone short the EURCHF at 110.5x without a stop loss? How do you recover from an instant 1000+ pip loss? The answer is that you can't, because your broker would have margin called you and your account would be toast.
Ha! I don't even want to think about it!

I still have a small trade sitting at an average of 0.8819! It is one of the two remaining trades from the experiment.
  • #26,020
  • Sep 6, 2011 5:46am Sep 6, 2011 5:46am
Quoting phi1ipp
Impressive!

But how did you feel that it'll be something tremendous?
It was only that, a feeling. As ddaytrader has said regarding the market, "...no one knows....". However, price hit an all time low, bounced well, and then essentially went into ranging, ever more tightly ranging. The exit from the range could have been either way. My feeling was "up" based on the all time low, good bounce, and previous SNB action. And I had a reasonably placed SL below.
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