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Sonic R. System

  • #26,041
  • Sep 6, 2011 2:40pm Sep 6, 2011 2:40pm
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
I'd have entered closer to the dragon - study this pic and ask questions...
but before you ask questions, study the waves. I have outlined the first waves as I see them. Look carefully at the price action where I drew my EP.
Attached Image (click to enlarge)
Click to Enlarge Name: 20110906 AU.jpg Size: 65 KB
  • #26,042
  • Edited 3:37pm Sep 6, 2011 2:41pm | Edited 3:37pm
EJ:

Entered long, EP= 108.58.

As with UCad, PA was brought back down to where the earlier run started, at a SR area. PA since is up to Trend line, where entry is made early based on the PA Wave for a long (H-L-HL) and the pullback to SR. The SL is intentionally wide right now. If PA waffles, another pullback to some higher SR and moves up again, I might raise the SL then.
Attached Image (click to enlarge)
Click to Enlarge Name: # sept 5, 2011 - 061.gif Size: 33 KB
  • #26,043
  • Sep 6, 2011 4:20pm Sep 6, 2011 4:20pm
Thank you for your response ddaytrader, it raises more questions than answers for me :S

Did you see mark your wave as attached picture? I'm only on p25 of all your posts so you may have changed the way you trade but in your old post you say you like to see a proper correction before entry i.e. more than than the one candle this wave retraced.

I look at the way you have your waves drawn in your picture - I see price breaking the Low point but since it's above the dragon did you wait for a close below the dragon and enter a few pips below the closing candle?

If this is the case don't we look for the first part of the wave to pass through the dragon? Or have you evolved your trading from this?

Look forward to your reply.


Quoting ddaytrader
I'd have entered closer to the dragon - study this pic and ask questions...
but before you ask questions, study the waves. I have outlined the first waves as I see them. Look carefully at the price action where I drew my EP.
Attached Image (click to enlarge)
Click to Enlarge Name: au2 06.09.11.gif Size: 21 KB
  • #26,044
  • Sep 6, 2011 4:24pm Sep 6, 2011 4:24pm
OK thanks TAH, I haven't yet had a chance to go through all your posts yet but i will and hopefully that will shed more light on the way you trade.


Quoting traderathome
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.
  • #26,045
  • Sep 6, 2011 4:47pm Sep 6, 2011 4:47pm
Quoting Pirabuji
Thank you for your response ddaytrader, it raises more questions than answers for me :S

Did you see mark your wave as attached picture? I'm only on p25 of all your posts so you may have changed the way you trade but in your old post you say you like to see a proper correction before entry i.e. more than than the one candle this wave retraced.

I look at the way you have your waves drawn in your picture - I see price breaking the Low point but since it's above the dragon did you wait for a close below the dragon and enter a few pips below the...
ddaytrader seems busy at the moment. He will undoubtedly respond. Meanwhile, maybe I can help.

Look at the PA wave in the two charts below. See the difference? I think ddaytrader omitted that leg up to the previous SR to challenge your thinking. The previous SR is clear on a chart that takes you a bit further back. That is where the EP came into play, not on the first leg thru the Dragon but on the pullback to SR. A pullback to some SR is very important. Entry should not be until after that happens. And in this case the pullback was to a SR high enough that it enabled the EP to be in the same area as the end of the candle that first exited the Dragon.

I think I have the point right. If not, I am sure ddaytrader will make it all clear.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20110906%20AU.jpg Size: 65 KB
Click to Enlarge Name: # sept 5, 2011 - 062.gif Size: 31 KB
  • #26,046
  • Edited Sep 7, 2011 1:53pm Sep 6, 2011 4:59pm | Edited Sep 7, 2011 1:53pm
Quoting Pirabuji
OK thanks TAH, I haven't yet had a chance to go through all your posts yet but i will and hopefully that will shed more light on the way you trade.
Focus on Sonic's posts; also Basber, DanPa, ddaytrader, Domas4 and Muhammad (alphabetically). These are some Sonikers whose posts go back quite a ways, and whose posted trades most consistently give clear examples of the classic Sonic R. System. My posts do not.

Regards,
-tah
  • #26,047
  • Sep 6, 2011 5:15pm Sep 6, 2011 5:15pm
I received a PM regarding the S&R indicators I released. I am answering the PM here because others might have the same question(s).

"Whats up bro, I loaded up your Support and Resistance indicator onto a 4 hour chart but wanted to know where do these S&R come from or what time frame because when i switch over to a one hour or daily it show the same S&R levels ? Just in case the name of the indicator is SonicR S&R EURUSD (Black), Thanks again."

My response:

I hope you read the release notes, and the introduction in the compile of the indicator!!!!!!

If you had, you'd know the indicator does not "find", or compute SR. It is a storage file for SR levels that you, the user, input!

I tried to provide a "starter" set of SR levels in the indys, which I took from H4 and higher TF charts, whatever was required to decide on best levels, meaning those most frequented.

Hope this helps,
-tah
  • #26,048
  • Sep 6, 2011 5:36pm Sep 6, 2011 5:36pm
Quoting Pirabuji
...I look at the way you have your waves drawn in your picture - I see price breaking the Low point but since it's above the dragon did you wait for a close below the dragon and enter a few pips below the closing candle?

Yes - and if you go back the very first posts made by Sonic when he started this thread, you will find just that type of explanation for entering. And I would agree with TAH that this particular set up offered an entry on both the breakout below the dragon and also to enter on a pullback to the BO point.
Attached Image (click to enlarge)
Click to Enlarge Name: 20110906 AU notes.jpg Size: 113 KB
  • #26,049
  • Sep 6, 2011 6:44pm Sep 6, 2011 6:44pm
Quoting ddaytrader
Yes - and if you go back the very first posts made by Sonic when he started this thread, you will find just that type of explanation for entering. And I would agree with TAH that this particular set up offered an entry on both the breakout below the dragon and also to enter on a pullback to the BO point.
I would also like to add that if that first "Low" prior to the "Lower High" had printed within the range of the dragon, then I'd have entered short on a break of that low, even if that meant my EP was not below the dragon. It is all about trading the path of least resistance, and the dragon, aka 34 ema close, high low does a pretty good job of marking off the bullish path from the bearish path. It is not perfect, but it will keep you on the right side more times than not.
  • #26,050
  • Sep 6, 2011 6:55pm Sep 6, 2011 6:55pm
Quoting ddaytrader
..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.
And folks, I did not post those results to make myself look good. I never could have done this without SonicR and wave analysis. I posted this to show what is possible for you when you pick your trades carefully according to Sonic's system. You do not need three trades per day to make big pips.

Again, do not look at these results as ddaytrader bragging about how great a trader he is. Trust me, I suck at trading. If it weren't for SonicR as a basis for all of my trading, I couldn't trade my way out of a wet paper bag.

So when you read those results, say to yourself "if a goofy dumbnut like ddaytrader can do that, I sure can!"

And if you follow SonicR and keep it simple, you sure can!


And by the way, I do take losses. Plenty of them, so do not let your losses get you down. Analyze your wins and your losses, and so long as you can say to yourself that you followed SonicR rules and followed your trading plan, then you give yourself an "A" for that trade, whether it was profit or loss, and move on to the next trade. Patiently.
  • #26,051
  • Sep 6, 2011 8:04pm Sep 6, 2011 8:04pm
Quoting ddaytrader
And folks, I did not post those results to make myself look good. I never could have done this without SonicR and wave analysis. I posted this to show what is possible for you when you pick your trades carefully according to Sonic's system. You do not need three trades per day to make big pips.

Again, do not look at these results as ddaytrader bragging about how great a trader he is. Trust me, I suck at trading. If it weren't for SonicR as a basis for all of my trading, I couldn't trade my way out of a wet paper bag.

So when...
many thanks for your humble thoughts and encouragement dd, and to you tah as well, i found both of your recent post very informative in sense of entries. so this is what hans also has been trying to emphasize how to properly put the fe setup for 'c' to fall on support/resistance zones. with this i started to become picky with my setups on m15 though i always see most of the setups in m1 and m5. i hope if not too bothersome if you can also show how we should plot the S&R on h1/h4 at least once a week so we can follow your target paths re: S/R's.

also dd, did i get this right? "if the in higher TFs such as H4/H1, if the Price is below the ema aka dragon our bias is short, vice versa?"

another thing would you consider an entry on m1, as i said mostly i see setups in lower TF like M1/M5? coz i have observed if theres a setup in M15 and we look for the entry in M1 we could tighten the SL @ least half of 30 or 40 pips. pls see attached. pls enlighten me on this as well, thank you so much for your great help and patience.

-F
Attached Image(s) (click to enlarge)
Click to Enlarge Name: m15.gif Size: 23 KB
Click to Enlarge Name: M1 ENTRY.gif Size: 23 KB
  • #26,052
  • Sep 6, 2011 8:33pm Sep 6, 2011 8:33pm
Here is my AU long for the evening ...
Attached Image (click to enlarge)
Click to Enlarge Name: 20110906 AU DB long.jpg Size: 98 KB
  • #26,053
  • Sep 6, 2011 8:45pm Sep 6, 2011 8:45pm
Quoting alrightfrank
...also dd, did i get this right? "if the in higher TFs such as H4/H1, if the Price is below the ema aka dragon our bias is short, vice versa?"
Did I say that? If so, I mispoke, as I do not pay any mind to the higher time frame dragon except for daily trades, which are not SonicR and will have to be the subject of another thread or at least another time.

H1 H4 DTF are for support and resistance, M15 is for sonicR and we use the dragon there.
  • #26,054
  • Sep 6, 2011 8:48pm Sep 6, 2011 8:48pm
Quoting alrightfrank
another thing would you consider an entry on m1, as i said mostly i see setups in lower TF like M1/M5? coz i have observed if theres a setup in M15 and we look for the entry in M1 we could tighten the SL @ least half of 30 or 40 pips. pls see attached. pls enlighten me on this as well, thank you so much for your great help and patience.

-F
I am not a fan of using M1 for anything. If you are trying to enter early, then study Hans and Nando's fib approach and get in using S/R.
  • #26,055
  • Sep 6, 2011 9:05pm Sep 6, 2011 9:05pm
Quoting ddaytrader
Here is my AU long for the evening ...
Here is my SonicR interpretation of AU price action. I thought that the pullback from the bar I keyed my EP off of would have been deeper into the dragon, but price had other ideas.

EP 1.0526, SL 1.0480, TP 1.0640

Let the market decide ...
Attached Image (click to enlarge)
Click to Enlarge Name: 20110906 AU DB long SonicR.jpg Size: 96 KB
  • #26,056
  • Sep 6, 2011 9:48pm Sep 6, 2011 9:48pm
Quoting ddaytrader
Here is my AU long for the evening ...
Be careful.
Attached Image (click to enlarge)
Click to Enlarge Name: 3.gif Size: 17 KB
  • #26,057
  • Sep 6, 2011 9:48pm Sep 6, 2011 9:48pm
Quoting ddaytrader
Here is my SonicR interpretation of AU price action. I thought that the pullback from the bar I keyed my EP off of would have been deeper into the dragon, but price had other ideas.

EP 1.0526, SL 1.0480, TP 1.0640

Let the market decide ...
Hi ddaytrader, I am a bit confused. May I know when you will wait for a higher low to occur before your trigger, and when you will enter whenever the price break the closing candle that leave the dragon? In this case, if you wait for a pull back, you will have missed the chance.
Attached Image (click to enlarge)
Click to Enlarge Name: learn15gif.gif Size: 106 KB
  • #26,058
  • Sep 6, 2011 9:48pm Sep 6, 2011 9:48pm
GU:

Entered long, EP= 1.5969.
Attached Image (click to enlarge)
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  • #26,059
  • Sep 6, 2011 9:58pm Sep 6, 2011 9:58pm
Quoting Gloryrose
Be careful.
Looking at all those scratches on your chart, I should be the one telling you to be careful.
  • #26,060
  • Sep 6, 2011 10:18pm Sep 6, 2011 10:18pm
Quoting samtrade
Hi ddaytrader, I am a bit confused. May I know when you will wait for a higher low to occur before your trigger, and when you will enter whenever the price break the closing candle that leave the dragon? In this case, if you wait for a pull back, you will have missed the chance.
My order was in dude ... I thought that there'd be a pullback, but it never occurred. I thought there would be a pullback, but I didn't skip the trade just because price didn't do what I had thought it would do. As long as price has made a Low a High and a Higher Low, I am not going to stand on ceremony skip the trade because I didn't get the perfect wave.
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