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Sonic R. System

  • #26,021
  • Sep 6, 2011 7:49am Sep 6, 2011 7:49am
Quoting traderathome
It is good that I closed the trade....
And, there will be more days, more trades.

-tah
Do you not find it at all remarkable that you are quick to close profits and not once have you added to a winning position, and yet you will trade without a stop loss and pyramid your losers?

TAH, if you would allow yourself the self-knowledge to reverse that habit, you'd own the world!
  • #26,022
  • Sep 6, 2011 7:52am Sep 6, 2011 7:52am
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.
GREAT POST!!!

I wait it helps every newbie here trying to trade without stop loss.


Kind Regards,
Nando.
"Being picky only cost your time - not MONEY"...Hans
  • #26,023
  • Sep 6, 2011 7:53am Sep 6, 2011 7:53am
Quoting ddaytrader
Do you not find it at all remarkable that you are quick to close profits and not once have you added to a winning position, and yet you will trade without a stop loss and pyramid your losers?

TAH, if you would allow yourself the self-knowledge to reverse that habit, you'd own the world!
It is hard to change habits. But I am working on it. Besides, with still two Exp trades in the dumps, I need the money!

Seriously though, that was a remarkable run, which took PA much higher than average runs would be. You took profit. I took profit. Things will settle down and set up again.
Attached Image (click to enlarge)
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  • #26,024
  • Sep 6, 2011 8:06am Sep 6, 2011 8:06am
Quoting traderathome
UCad:

Entered long, EP= 0.9916. Not much left in day range, so TP is tentative.
UCad:

TP reached.
TP= 0.9957, minus EP= 0.9916, minus spread, equals net gain of 38 pips.
Attached Image (click to enlarge)
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  • #26,025
  • Sep 6, 2011 8:33am Sep 6, 2011 8:33am
TAH, stop writing novels and stories about The Adventures of the Big Boys.

Just wait and trade the waves. Nothing should happen, and not thought of magical creatures should influence your trading.

Repeat after me ...

Trade the waves...

trade the waves...

trade the waves ...

If a long EJ set up materializes according to SonicR, then post it. Otherwise, keep your phantoms to yourself, ok?
  • #26,026
  • Sep 6, 2011 8:36am Sep 6, 2011 8:36am
Quoting ddaytrader
TAH, stop writing novels and stories about The Adventures of the Big Boys.

Just wait and trade the waves. Nothing should happen, and not thought of magical creatures should influence your trading.

Repeat after me ...

Trade the waves...

trade the waves...

trade the waves ...

If a long EJ set up materializes according to SonicR, then post it. Otherwise, keep your phantoms to yourself, ok?
I had already deleted the post. I agree.
  • #26,027
  • Sep 6, 2011 9:16am Sep 6, 2011 9:16am
Quoting traderathome
UCad:

TP reached.
TP= 0.9957, minus EP= 0.9916, minus spread, equals net gain of 38 pips.
I'm happy and proud to announce that I did almost the same: EP - .99147, TP - .99429 = 28 pips!

Beside that short on GU: EP - 1.6093, TP - 1.6039 = 54 pips

Thanks to all of you, gentlemen!

May I call myself now one of the Sonicers?!
  • #26,028
  • Sep 6, 2011 9:34am Sep 6, 2011 9:34am
Quoting phi1ipp
I'm happy and proud to announce that I did almost the same: EP - .99147, TP - .99429 = 28 pips!

Beside that short on GU: EP - 1.6093, TP - 1.6039 = 54 pips

Thanks to all of you, gentlemen!

May I call myself now one of the Sonicers?!
Nice profits. You are already a Soniker if you are learning and implementing the Sonic R. System. Now you need to work on posting charts of your trades.

Congratulations!
  • #26,029
  • Sep 6, 2011 9:36am Sep 6, 2011 9:36am
UCad:

A new long trade, EP= 0.9925.
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  • #26,030
  • Sep 6, 2011 9:38am Sep 6, 2011 9:38am
AU:

Entered short, EP= 1.0520.
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  • #26,031
  • Edited 12:51pm Sep 6, 2011 10:13am | Edited 12:51pm
Quoting traderathome
NU:

Entered short, EP= 0.8302. TP is tentative.
NU:

TP reached.
EP= 0.8302, minus TP= 0.8225, minus spread, equals net profit of 72 pips.
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  • #26,032
  • Sep 6, 2011 11:13am Sep 6, 2011 11:13am
GJ short:
EP - 123.8 TP - 123.25 = 55 pips
http://www.forexfactory.com/attachme...1&d=1315325123

AU short: I was greedy
EP - 1.05163 SL@BE was hit = 0
http://www.forexfactory.com/attachme...1&d=1315325123

And finally the worst and the wrongest one: UC long
hit SL = -24 pips
http://www.forexfactory.com/attachme...1&d=1315325504
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  • #26,033
  • Sep 6, 2011 12:50pm Sep 6, 2011 12:50pm
Hi TAH ,
Whats the EP and TP Price Indicator ur using ?
  • #26,034
  • Sep 6, 2011 12:50pm Sep 6, 2011 12:50pm
Quoting traderathome
UCad:

A new long trade, EP= 0.9925.
UCad:

SL reached.
EP= 0.9925, minus SL= 0.9898, minus spread, equals net loss of 31 pips.
Attached Image (click to enlarge)
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  • #26,035
  • Edited 1:07pm Sep 6, 2011 12:53pm | Edited 1:07pm
Quoting trader1024
Hi TAH ,
Whats the EP and TP Price Indicator ur using ?
No indicator for EP and TP(s) is being used. However, the MT4 FE tool is applied to help. It uses added levels. See Hansma's posts for more information on using the FE tool in this manner.
  • #26,036
  • Sep 6, 2011 1:02pm Sep 6, 2011 1:02pm
Quoting traderathome
AU:

Entered short, EP= 1.0520.
AU:

Manually closed trade.
EP= 1.0520, minus close= 1.0508, minus spread, equals net gain of 8 pips.
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  • #26,037
  • Sep 6, 2011 1:54pm Sep 6, 2011 1:54pm
AUDUSD

Hi Ddaytrader

I've been going through all your posts and would love to have your oponion on this entry. Is this a trade you would have taken?

EP - 1.0518
SL - 1.0556
TP 1 - 1.0465
TP 2 - 1.0422


Hi TAH,

Why did you exit before your TP or SL was hit?

Thanks,
P
Attached Image (click to enlarge)
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  • #26,038
  • Sep 6, 2011 2:13pm Sep 6, 2011 2:13pm
UCad:

New entry long, EP= 0.9902. Price has been worked back down to the same SR area from which the run up started. To me, it looks like price is bouncing along the whole number area, pending a break either way. Because the trend is up, and because the PA Wave suits a long setup (H-L-HL), I have entered long slightly early, waiting only for PA to reach the Trend line.
Attached Image (click to enlarge)
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  • #26,039
  • Sep 6, 2011 2:27pm Sep 6, 2011 2:27pm
Quoting Pirabuji
AUDUSD

Hi Ddaytrader

I've been going through all your posts and would love to have your oponion on this entry. Is this a trade you would have taken?

EP - 1.0518
SL - 1.0556
TP 1 - 1.0465
TP 2 - 1.0422


Hi TAH,

Why did you exit before your TP or SL was hit?

Thanks,
P
I closed the trade because PA was not going anywhere; just ranging. It opened the possibility for a break up as well as down. Being late in the day, I decided it best for me to just close with some profit and let things sort themselves out between now and next London session. If a new, good setup happens before then I'll consider a new trade.
  • #26,040
  • Sep 6, 2011 2:29pm Sep 6, 2011 2:29pm
Quoting traderathome
I had already deleted the post. I agree.
I'm proud of you - Good Job!
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