First trade was stopped out for a loss of 82 pips from EP to SL.
Manually closed second trade for 108 pips gain from EP to close.
Attached Image (click to enlarge)
- #28,641
- Dec 2, 2011 10:03am Dec 2, 2011 10:03am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #28,643
- Dec 2, 2011 10:20am Dec 2, 2011 10:20am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #28,644
- Dec 2, 2011 10:31am Dec 2, 2011 10:31am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Hi Sonicdeejay...,
I've attached a pic of the demo trade.., just wanted to know (not because it went like for 100 pips).., but is it a valid SonicR?
Two things:
1) your entry was before PA constructed EP. Entry is at least several pips beyond end of first candle that exits Dragon on Leg#2 of a proper PA Wave.
2) you are not showing the Lo - N - Lc vertical lines. That may be fine for your trading, but it does not serve well the purpose of this thread being a better manual of the Sonic R. System. All present and future readers should be able to look at a picture of a trade and see that all the important rules of Sonic R. were followed.
Good results on your demo trade.
- #28,645
- Dec 2, 2011 10:48am Dec 2, 2011 10:48am
Hi paapi,
Two things:
1) your entry was before PA constructed EP. Entry is at least several pips beyond end of first candle that exits Dragon on Leg#2 of a proper PA Wave.
2) you are not showing the Lo - N - Lc vertical lines. That may be fine for your trading, but it does not serve well the purpose of this thread being a better manual of the Sonic R. System. All present and future readers should be able to look at a picture of a trade and see that all the important rules of Sonic R. were followed.
Good results on your demo trade.
thanks.., Yes.., the entry was a bit early (sorry about that).., but
"you are not showing the Lo - N - Lc vertical lines."..., This part i did not get.., is it london open.., newyork and london close lines?...,
- #28,646
- Dec 2, 2011 11:00am Dec 2, 2011 11:00am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #28,647
- Dec 2, 2011 11:01am Dec 2, 2011 11:01am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #28,648
- Dec 2, 2011 11:07am Dec 2, 2011 11:07am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
EU:
Here is an example of how the M15 SonicR CT short trade setup might be managed, if a trade is entered. Tomorrow brings yet two more USD high impact releasses, which brings the question of whether the market will drop price today, or hold the line on price to see what those releases bring. There is only an hour left of the London session.
On this example trade, aside from needing to increase SL to allow for high volatility of NFP release, PA did drop to the FE 262% level, for 91 pips from EP to TP2.
This was just an example/illustration. It was not a live trade for me because I was already in a trade on this.
- #28,655
- Edited Dec 4, 2011 2:32am Dec 3, 2011 8:29pm | Edited Dec 4, 2011 2:32am
"Hi paapi,
Two things:
1) your entry was before PA constructed EP. Entry is at least several pips beyond end of first candle that exits Dragon on Leg#2 of a proper PA Wave.
2) you are not showing the Lo - N - Lc vertical lines. That may be fine for your trading, but it does not serve well the purpose of this thread being a better manual of the Sonic R. System. All present and future readers should be able to look at a picture of a trade and see that all the important rules of Sonic R. were followed.[quote]
Hi TAH..,
I'm actually going through the posts still and i didn't know much about your great templates and i found those posts that explained details and here you go.., a correction to the previous not-following-the-rule post.
Two things:
1) your entry was before PA constructed EP. Entry is at least several pips beyond end of first candle that exits Dragon on Leg#2 of a proper PA Wave.
2) you are not showing the Lo - N - Lc vertical lines. That may be fine for your trading, but it does not serve well the purpose of this thread being a better manual of the Sonic R. System. All present and future readers should be able to look at a picture of a trade and see that all the important rules of Sonic R. were followed.[quote]
Hi TAH..,
I'm actually going through the posts still and i didn't know much about your great templates and i found those posts that explained details and here you go.., a correction to the previous not-following-the-rule post.
- #28,656
- Edited Dec 4, 2011 5:30am Dec 3, 2011 8:59pm | Edited Dec 4, 2011 5:30am
- | Commercial User | Joined Mar 2008 | 9,068 Posts
- #28,658
- Dec 4, 2011 7:14am Dec 4, 2011 7:14am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
My Week w/Sonic R. System:
There were 4 trades from last week closed for 185 pips net gains (3 gained, 1 lost), and new trades closed....
8 trades closed for 422 pips net gains.
6 trades closed for 276 pips net loss.
That comes to about a 61% hit rate for a net gain of 331 pips. I have no open trades at this time.
.I certainly like the new TAH's trading and postings more than the old TAH way.
And I agree completely with Sonic's follow up to your post - do not worry, TAH, about your win/loss ratio, i.e. what you call your "hit rate" is unimportant.
The most important metric for a trader is the size of your average win relative to the size of your average loss. For example, I have a friend who trades stocks. He made 5 trades so far this whole year - one profit and four losses. But his average loss was $5000 USD and his one profitable trade was $140000USD. So he had only a 20% win rate, but his average risk reward was 5.6 USD reward to every 1 USD risked (He bet 5K per trade x 5 trades = 25K risk, 140K Reward/25K Risk = 5.6 Reward to Risk ratio). It works just as well if you are risking only $5 or $50 or $500 per trade - the principle remains the same: Make your profits big (even, and especially if the wins are few) and your losses small (even, and especially if the losses are many).
I read an interview with a great trader names Larry Hite in the Market Wizards book where he says "it is amazing how rich you can get being wrong!" What he meant was that he became wealthy trading, even though most of his trades were losses. He kept his bets small as a percent of his total account, and he always used a Stop Loss, and he always let his winners run as far as they were willing to go before he took his profits.
So, now, TAH, as you continue to make such wonderful progress using proper money management and respecting well chosen SL's, you should now find it useful to stop concerning yourself with a high win rate, and instead concern yourself with making your average win as many pips as you can and make your average loss as few pips as the price action and S/R allows.
Good work, my friend!
- #28,659
- Dec 4, 2011 8:03am Dec 4, 2011 8:03am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #28,660
- Dec 4, 2011 8:06am Dec 4, 2011 8:06am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
If that is 14 trades for the week, then that is still too many trades ... if that is 14 trades over two weeks, then that is 7 trades/week, which is still probably over trading, but a vast, vast improvement from the 14 trades per day you used to make
I certainly like the new TAH's trading and postings more than the old TAH way.
And I agree completely with Sonic's follow up to your post - do not worry, TAH, about your win/loss ratio, i.e. what you call your "hit rate" is unimportant.
[b]The most important metric for a trader is...