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Sonic R. System

  • #26,181
  • Sep 9, 2011 4:23am Sep 9, 2011 4:23am
Quoting foxybunny
This type of comment can make you return to a kidergarten, not kindergarden.

You should know a 10V+ vouch has no meaning to the profitability of any trader here.
The many vouchs could be they are very helpful as well and contributed with more useful comments on FF.
you are absolutly right ,
apologise if I hurt someone


aligater
born to speculate
  • #26,182
  • Edited 5:01am Sep 9, 2011 4:44am | Edited 5:01am
Quoting foxybunny
Why you said "too fast to short" ??

Coz I just Short AUD/USD 1.059x same place and same time as your chart where price just went below Dragon showing new Lower-High, and it went below the previous Higher-Low.

Edit: Just added chart. After my entry, saw a few candles with longer wicks pointing down, don't like these wicks, hmmm ...


Attachment
hi, i dunno bout this trade, but twice in a row for 2 days, somebody pointed out that it is not good to short into a support. I think it was hansma (for EU) and dd the next day (for EU also)?

Edit: looks like this time support was broken. Confused why support broken this time?
  • #26,183
  • Sep 9, 2011 5:03am Sep 9, 2011 5:03am
GU Short closed.
PA hit TP. +134
Attached Image (click to enlarge)
Click to Enlarge Name: gu 9.9.jpg Size: 117 KB
  • #26,184
  • Sep 9, 2011 5:10am Sep 9, 2011 5:10am
EU:

Entered this late today, but still ok.

EP= 1.3867, minus TP= 1.3794, minus spread, equals net gain of 71 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: # sept 9, 2011 - 092.gif Size: 31 KB
  • #26,185
  • Sep 9, 2011 5:13am Sep 9, 2011 5:13am
Quoting ddaytrader
AU Long, buy stop 1.0617, SL 1.0563, TP 1.0707 ... let the market decide...

And you can't win 'em all. A loser for -54 pips.

I can't take a screen shot, but it sure looked like a pretty wave to set up a short AU in the wee hours of the morning.
  • #26,186
  • Sep 9, 2011 5:14am Sep 9, 2011 5:14am
Quoting shujiXakira
hi dd,

please enlighten how you figure out that support red line?
Why not you try one on another pair and post your result?
  • #26,187
  • Sep 9, 2011 5:15am Sep 9, 2011 5:15am
Quoting Pirabuji
Ddaytrader,

How did you choose your TP?

There is a double top at 1.0659 wouldn't this be a good place to exit?
I can not see any obvious resistance at 1.0707
You can do that ... there is a fib reason to place it where I did, but that would just confuse things here. So yes, you should plan a TP just below the DT.
  • #26,188
  • Sep 9, 2011 5:16am Sep 9, 2011 5:16am
Quoting shujiXakira
hi, i dunno bout this trade, but twice in a row for 2 days, somebody pointed out that it is not good to short into a support. I think it was hansma (for EU) and dd the next day (for EU also)?

Edit: looks like this time support was broken. Confused why support broken this time?
Thanks for the reminder about Support.

It is true better not to Short into a Support.

In this A/U Short case, I saw a Resistance around 1.0630, and then price changed from a Higher-High to a Lower-High in my previous chart, so I am Shorting from a Resistance and below Dragon following my Waves.

Nobody knows for sure why Support broken this time, it could be what I mentioned above where price is coming down from a good Resistance with Lower-High.
Just note that a Support can also turn into a Resistance once broken, and perhaps this Support 1.0560 was tested a few times already and may become Resistance soon.

Also the Resistance 1.0630 I mentioned could also easily turn into a new Support.

Anyway, I have moved my A/U Short SL to BE even though price moved down very fast and favourably for +50pips. Not taking profit.
Worse possibility is this trade hit BE, if that Support around 1.0560 is a true Support and bounce up from there.
  • #26,189
  • Sep 9, 2011 5:21am Sep 9, 2011 5:21am
Quoting shujiXakira
hi, i dunno bout this trade, but twice in a row for 2 days, somebody pointed out that it is not good to short into a support. I think it was hansma (for EU) and dd the next day (for EU also)?

Edit: looks like this time support was broken. Confused why support broken this time?
First, this is a short term system - look at SOnic's first chasrts in the thread and you will see him going long and winning and then going short the same pair a few hours later and winning.

All S/R is are areas of price action where price will need to make a decision It will either continue through it (break out) or reverse. Odds favor reversals, i.e. S/R will hold. But it is only a slight edge, as pricedoes not move in a straight line.

We play the odds and use an SL to protect us when we are wrong.

You cannot be right everytime.
  • #26,190
  • Sep 9, 2011 5:22am Sep 9, 2011 5:22am
UCad:

EP= 0.9855
TP= 0.9917
net gain= 59 pips
Attached Image (click to enlarge)
Click to Enlarge Name: # sept 9, 2011 - 093.gif Size: 43 KB
  • #26,191
  • Sep 9, 2011 5:23am Sep 9, 2011 5:23am
GU and AN gace very clear and very nice SonicR shorts ... no one took those, but we had plenty of Sonikers playing in the GU chop and slop yesterday.

Why does everyone dive into the knives instead of swimming in the waves?
  • #26,192
  • Edited 5:12pm Sep 9, 2011 5:39am | Edited 5:12pm
Hi guys!

Since I've finished a couple of good deals I've been loosing pips every day. The problem is I'm confused with S&R levels and how they affect the deal.

http://s004.radikal.ru/i207/1109/17/0ae18b7ab04b.jpg

My thought was that price had to bounce off the S-area but it hasn't.

The same story is below with EU
http://s08.radikal.ru/i181/1109/1a/ea0b7c2a1975.jpg

What's the bug in my considerations?
  • #26,193
  • Sep 9, 2011 5:44am Sep 9, 2011 5:44am
Quoting ddaytrader
Why not you try one on another pair and post your result?
hi dd,

i am not sure what you mean, as i still do not know where to mark a good S & R so i am still learning mode before trying out trading.
  • #26,194
  • Sep 9, 2011 5:46am Sep 9, 2011 5:46am
Quoting ddaytrader
GU and AN gace very clear and very nice SonicR shorts ... no one took those, but we had plenty of Sonikers playing in the GU chop and slop yesterday.

Why does everyone dive into the knives instead of swimming in the waves?
and the EU was a thing of beauty ... makes the GU look lke an ugly duckling
  • #26,195
  • Sep 9, 2011 5:48am Sep 9, 2011 5:48am
AU:

EP= 1.0609
TP= 1.0533
Net profit= 71 pips
Attached Image (click to enlarge)
Click to Enlarge Name: # sept 9, 2011 - 094.gif Size: 34 KB
  • #26,196
  • Sep 9, 2011 5:49am Sep 9, 2011 5:49am
Quoting shujiXakira
... as i still do not know where to mark a good S & R so i am still learning mode before trying out trading.
Look for highs & lows, and places where price stopped, paused, and either reversed or continiued.

Try it on the the EJ. Start with Daily, then H4, then H1 ... and see what you come up with.
  • #26,197
  • Sep 9, 2011 5:52am Sep 9, 2011 5:52am
Quoting ddaytrader
Look for highs & lows, and places where price stopped, paused, and either reversed or continiued.

Try it on the the EJ. Start with Daily, then H4, then H1 ... and see what you come up with.
ok sir, thanks for the advice. will try it out and seek your advice
  • #26,198
  • Sep 9, 2011 5:53am Sep 9, 2011 5:53am
NU:

EP= 0.8331
TP= 0.8302
Net profit= 24 pips
Attached Image (click to enlarge)
Click to Enlarge Name: # sept 9, 2011 - 095.gif Size: 33 KB
  • #26,199
  • Sep 9, 2011 5:56am Sep 9, 2011 5:56am
Quoting traderathome
AU:

EP= 1.0609
TP= 1.0533
Net profit= 71 pips

Hi TAH,

I can't find the set up post for this trade.
  • #26,200
  • Sep 9, 2011 5:57am Sep 9, 2011 5:57am
UJ:

EP= 77.45
TP= 77.76
Net profit= 29 pips
Attached Image (click to enlarge)
Click to Enlarge Name: # sept 9, 2011 - 096.gif Size: 31 KB
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