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Sonic R. System

  • #26,881
  • Sep 23, 2011 7:15am Sep 23, 2011 7:15am
Quoting ddaytrader
Supply zones will be stronger during down trends and demand zones will be weaker during down trends, and vice versa. This is why it is generally safer to short rallies in down trends and buy dips in up trends than it is to be a pure break out trader.
thanks DD, noted this..
Patience is the key.
  • #26,882
  • Sep 23, 2011 7:26am Sep 23, 2011 7:26am
Quoting ddaytrader
Supply zones will be stronger during down trends and demand zones will be weaker during down trends, and vice versa. This is why it is generally safer to short rallies in down trends and buy dips in up trends than it is to be a pure break out trader.
Thanks.
"Being picky only cost your time - not MONEY"...Hans
  • #26,883
  • Sep 23, 2011 7:39am Sep 23, 2011 7:39am
Hi Sonikers,

Please do not PM me with charts of trades and ask me to comment via PM. Sonic Sharing only works when charts are posted to the thread for everyone's benefit. I cannot respond to PM's about specific trades, as that is what this thread is for.

Thank You,

-DD
  • #26,884
  • Sep 23, 2011 7:52am Sep 23, 2011 7:52am
Quoting ddaytrader
Hi Sonikers,

Please do not PM me with charts of trades and ask me to comment via PM. Sonic Sharing only works when charts are posted to the thread for everyone's benefit. I cannot respond to PM's about specific trades, as that is what this thread is for.

Thank You,

-DD
Is it possible to add charts in PM?
"Being picky only cost your time - not MONEY"...Hans
  • #26,885
  • Edited 8:12am Sep 23, 2011 7:53am | Edited 8:12am
SL @ BE...

ps: moved BE+12 below prev swing low.
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"Being picky only cost your time - not MONEY"...Hans
  • #26,886
  • Sep 23, 2011 7:57am Sep 23, 2011 7:57am
Quoting nando_rich
Thanks.
No problem. You understand, of course, that I agreed with your post and I was just adding an additional opinion of my own to it. You were correct in what you said about supply zones being resistance in this case, and you also are correct, imo, that you may want to be a buyer at some points during a down trend.

Here is how I like to think about support/resistance (demand/supply): Demand Zones are not mere chart points. Demand zones are people wanting to buy. So, when price is down trending, you get a lot of people excited that they will finally be able to buy "low" in the demand zone, i.e. support area. They place their orders.

However, you have other people who are also long, and they are dieing because the down trend is causing them losses. They cannot take it anymore, so they put their SL under the next demand zone. They are "priming" the supply pump.

Price gets tot he demand zone, and sure enough, it bounces. Now there are happy new longs and temporarily relieved old longs. However, it is a down trend. The new longs are a bit skittish, and cut their profits short. In fact, most of them are weak hands and cut their profits short. Now the old longs see that the bounce is starting fizzle. Some of them bale out early. Price fall back to and just below the demand zone. The supply pump is primed with SL's and it is also primed with EP orders for the break out traders. The down trend continues.

Eventually, price stabilizes and a rally begins. That former demand zone is now a supply zone. Now all the longs who bought there and traded without a stop loss have orders there to get out at break even. You alos have the pullback traders waiting to get short up their. You have the Japanese housewives all seeing that delicious down trend and they want a piece of the short-fly pie too. It is all about people. It is all about the psychology of the crowd. This is why Sam Seiden prefers a "first touch" trade at S/R - because the supply pump has already been primed, and the sell order should really start spitting out like a geyser at the first touch.

In other words, we traders sometimes think that we trade in a vacuum. We do not. We trade a market, and a market is people.
  • #26,887
  • Sep 23, 2011 7:59am Sep 23, 2011 7:59am
Quoting nando_rich
Is it possible to add charts in PM?
No, usually they send me a link to photbucket or some other off site picture sharing app.
  • #26,888
  • Sep 23, 2011 8:22am Sep 23, 2011 8:22am
Quoting ddaytrader
No problem. You understand, of course, that I agreed with your post and I was just adding an additional opinion of my own to it. You were correct in what you said about supply zones being resistance in this case, and you also are correct, imo, that you may want to be a buyer at some points during a down trend.

Here is how I like to think about support/resistance (demand/supply): Demand Zones are not mere chart points. Demand zones are people wanting to buy. So, when price is down trending, you get a lot of people excited that they...
WOW...you really understand the PA...
"Being picky only cost your time - not MONEY"...Hans
  • #26,889
  • Sep 23, 2011 8:56am Sep 23, 2011 8:56am
Quoting nando_rich
SL @ BE...

ps: moved BE+12 below prev swing low.
2/3 closed +75 pips
1/3 runing sl be + 34 pips

Regads,
Nando.
Attached Image (click to enlarge)
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"Being picky only cost your time - not MONEY"...Hans
  • #26,890
  • Sep 23, 2011 9:43am Sep 23, 2011 9:43am
Gold Get F..
Silver Get F..
Euro doing ding dong..

and

it is Friday...


http://www.roomu.net/files/user2/puff-chill.jpg

I am clean..

Sonic
  • #26,891
  • Sep 23, 2011 9:52am Sep 23, 2011 9:52am
ddaytrader, i listened to you about support and resistence. watched sam seiden's webinars. I have to thank you for your teaching.

this is the second time i bought at support.
risk : reward = 1 : 15

and now those candles fly after reached my TP
but never mind, there always another trade

So, please teach us more about support and resistence
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  • #26,892
  • Sep 23, 2011 10:52am Sep 23, 2011 10:52am
Quoting Notatui
...and now those candles fly after reached my TP
but never mind, there always another trade

So, please teach us more about support and resistence
I don't understand...candles fly after your Take Profit? So what - you made a profit. Or do you mean it hit your Stop Loss? If that is the case, and if the red line on your chart is your Stop Loss, then your problem is that the SL has to go below the lowest low, which was the low of the candle that gave you the clue that price was entering a support zone (aka "demand" zone).
  • #26,893
  • Sep 23, 2011 11:00am Sep 23, 2011 11:00am
Quoting ddaytrader
I don't understand...candles fly after your Take Profit? So what - you made a profit. Or do you mean it hit your Stop Loss? If that is the case, and if the red line on your chart is your Stop Loss, then your problem is that the SL has to go below the lowest low, which was the low of the candle that gave you the clue that price was entering a support zone (aka "demand" zone).
yeah, i made profit. ( still trying not to be greedy!)
how many pips below the lowest low?
  • #26,894
  • Sep 23, 2011 11:07am Sep 23, 2011 11:07am
Quoting nando_rich
2/3 closed +75 pips
1/3 runing sl be + 34 pips

Regads,
Nando.
1/3 cosed + 68 pips

75 pips x 2/3 = 50 pips
68 pips x 1/3 = 22 pips

Total: 62 net pips

Sl initial = 18pips

R:R = 3,4 : 1

Regards,
Nando.
"Being picky only cost your time - not MONEY"...Hans
  • #26,895
  • Sep 23, 2011 11:19am Sep 23, 2011 11:19am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
last trade for the week
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  • #26,896
  • Sep 23, 2011 3:08pm Sep 23, 2011 3:08pm
Ive been using this system now for 2 months and its actually been very profitable
  • #26,897
  • Sep 23, 2011 10:14pm Sep 23, 2011 10:14pm
Quoting nando_rich
WOW...you really understand the PA...
I'm always learning ... and I always keep in mind that what I think I "know" today may need to be revised tomorrow.
  • #26,898
  • Sep 23, 2011 10:50pm Sep 23, 2011 10:50pm
Quoting ddaytrader
Supply zones will be stronger during down trends and demand zones will be weaker during down trends, and vice versa. This is why it is generally safer to short rallies in down trends and buy dips in up trends than it is to be a pure break out trader.
Very good post , I always says "Trend your best Friend"
Some learn it in easy way and other Go through hard way
  • #26,899
  • Sep 24, 2011 6:00am Sep 24, 2011 6:00am
Quoting ddaytrader
I'm always learning ... and I always keep in mind that what I think I "know" today may need to be revised tomorrow.
Mee too.
"Being picky only cost your time - not MONEY"...Hans
  • #26,900
  • Sep 24, 2011 6:48am Sep 24, 2011 6:48am
why I keep looking for long in such a down trend..



http://media.tumblr.com/tumblr_lmor1xMinf1qafrh6.gif

Sonic
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