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Sonic R. System

  • #29,621
  • Jan 9, 2012 8:20am Jan 9, 2012 8:20am
Quoting pangxie
the tide has changed.

it seems like short is wrong
just stick to the plan, dont move the stop. mine almost got hit by 2pts
  • #29,622
  • Jan 9, 2012 8:26am Jan 9, 2012 8:26am
Quoting pangxie
how about target profit for shorting eur/usd?
Taking profit is, I believe, the hardest part. You can easily learn a method, even learn the filters which seniors use to narrow down their losses, and learn the tricks of the system in one month or so (IF you are dedicated), but learning where to exit or BE, in other words learning Trade Management is very hard, because it's about your experience about you yourself. It's about what you're comfortable with. Using Major S&R Zones in any TF that you prefer for partial exiting and using Minor S&R zones for tightening your SL is a good approach I think ...


Quoting pangxie
the tide has changed.

it seems like short is wrong
Nope, Nothing is wrong. It's not about "Right" or "Wrong", it's about probablities. If you lose, you're not wrong, you're relying on a method that produce more loses than gains. You can be absoloutly right and still lose, and do nothing right and trade completely random, and even make a huge gains.

Probablity is a very basic concept of this business that very few traders really understands it.



About the trade... I do like to go short when it's bouncing of a Major S&R zone. and I like to see the first leg (first low) go below the dragon, which it didn't. So it was "no trade" for me.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,623
  • Jan 9, 2012 8:49am Jan 9, 2012 8:49am
Taking profit is indeed hard! Many instances i seen Green, then thought, 'lets see where it goes.' While its ranging, in either 5M and 15M. Then red!

But TP is a psychological game with yourself. Have to agree with Basber with TP being the hardest thing to do (esp if your just starting off).

SL is equally important, 'moving SL' while in the red is a huge no no, still a mental battle, have a set SL and keep it that, while in the green, move SL to BE or trail it.

TP: Taking profit
SL: Stop loss
BE: Below entry
  • #29,624
  • Jan 9, 2012 8:54am Jan 9, 2012 8:54am
Quoting hunter101
Taking profit is indeed hard! Many instances i seen Green, then thought, 'lets see where it goes.' While its ranging, in either 5M and 15M. Then red!

But TP is a psychological game with yourself. Have to agree with Basber with TP being the hardest thing to do (esp if your just starting off).

SL is equally important, 'moving SL' while in the red is a huge no no, still a mental battle, have a set SL and keep it that, while in the green, move SL to BE or trail it.

TP: Taking profit
SL: Stop loss
BE: Below entry
I think that usually BE means Break-Even

Interesting setup on the EU
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  • #29,625
  • Jan 9, 2012 9:00am Jan 9, 2012 9:00am
see you guy tomorrow. Thank you for the guidance.
  • #29,626
  • Jan 9, 2012 4:22pm Jan 9, 2012 4:22pm
Hey folks. I just ran across this website, and it is pretty useful I think. I have no connection to the site by the way. Good for those of us searching for a bro-ker. Don't know if I'm breaking any rules by posting the link, and if I am just let me know and I'll remove the post. The site is forexbrokerz.com
  • #29,627
  • Jan 9, 2012 8:11pm Jan 9, 2012 8:11pm
Yay!
  • #29,628
  • Jan 9, 2012 10:57pm Jan 9, 2012 10:57pm
EU:

After "non-trading Monday's" PA, it is looking bullish. Might not be as simple as a breakout up, though. If the market goes bullish today, FO/LO and even the US Open, any or all, might first execute pullbacks downwards. All-in-all, however, it currently has the bullish appearance of setting up for a bounce up from the half number area.
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  • #29,629
  • Jan 9, 2012 11:10pm Jan 9, 2012 11:10pm
I'm long EU 1.2781, TP 1.2826 , SL 1.2758
Keep Simple...!
  • #29,630
  • Edited Jan 10, 2012 2:45am Jan 9, 2012 11:54pm | Edited Jan 10, 2012 2:45am
im waiting for PA to stab 1.2800 before looking for a long entry, for now im looking for a short position.
F.

eu short 1.2788 triggered M5
TP Hit 1.2769, closed half/moved SL to BE+5
divergence spotted, trade closed @ 1.2750
have a good day fellow sonikers...
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  • #29,631
  • Jan 10, 2012 2:50am Jan 10, 2012 2:50am
Quoting traderathome
EU:

After "non-trading Monday's" PA, it is looking bullish. Might not be as simple as a breakout up, though. If the market goes bullish today, FO/LO and even the US Open, any or all, might first execute pullbacks downwards. All-in-all, however, it currently has the bullish appearance of setting up for a bounce up from the half number area.
Looked Bullish to me as well. Oh well.
  • #29,632
  • Jan 10, 2012 4:41am Jan 10, 2012 4:41am
Quoting traderathome
All sonikers, secatt, flamegs, et. al., consider these things. There has been talk recently about other than the classic Sonic R. System trade. Let's review today in light of the classic Sonic R. trade:

1. London session
2. Proper H-L-LH wave
3. EP at least several pips beyond first candle out of Dragon on wave leg3 (which would be around 1.2780, the same as for Hansma's method on M5)
4. SL sensibly placed beyond start of wave leg1 or beyond end of wave leg2
5. TP(s) sensibly selected, and in this case you could have simply gone with the...

fabulous explanation tradethorne. thank you
"Taking Responsibility is The Cornerstone of A Winning Attitude"
  • #29,633
  • Jan 10, 2012 6:50am Jan 10, 2012 6:50am
Ugly day to trade today.
  • #29,634
  • Edited 7:14am Jan 10, 2012 6:52am | Edited 7:14am
Last week , i busy because family .
Today i can come back . i study THV V3 . It's trouble , monitor look dirty . I can't see wave to analyse
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Share and Receive
  • #29,635
  • Jan 10, 2012 10:50pm Jan 10, 2012 10:50pm
Quoting sonicdeejay
1. Nice Trading time periods, that have major movement.... UK is the main centre of Forex and UK/US session overlap has a lot of movement too....

Trading Time
1AM - 4 AM EST (UK session)
7AM - 11 AM EST (US session)



4. We do not buy/sell on the break on the line immediately. Wait till that break-thru candle close. and we put buy stop/sell stop few pips above or below it...

Buy
Look for the candle go above upper white line and wait till the candle ends...and put the "Buy stop" few pips above the...
Dear Sonic
What's the difference between time zones EST AND GMT AS IN MT4 DISPLAY TIMES SHOWS IN GMT.PLEASE
  • #29,636
  • Jan 11, 2012 12:36am Jan 11, 2012 12:36am
Quoting execforex
Dear Sonic
What's the difference between time zones EST AND GMT AS IN MT4 DISPLAY TIMES SHOWS IN GMT.PLEASE
Sonic is on vacation, so I'll respond. I suggest you Google "time zones" and "world clock", etc. and read up about time zones. Learn the time zone offsets from GMT of major cities (Frankfurt, London, NYC, etc.). Get your feet wet by reading and learning. Different brokers have their broker servers located in different time zones, so not all MT4 platforms are based on the same time.
  • #29,637
  • Jan 11, 2012 12:43am Jan 11, 2012 12:43am
EU:

Entered M5 SonicR long (EP= 1.2750).
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  • #29,638
  • Jan 11, 2012 1:29am Jan 11, 2012 1:29am
Quoting execforex
Dear Sonic
What's the difference between time zones EST AND GMT AS IN MT4 DISPLAY TIMES SHOWS IN GMT.PLEASE
try http://www.forexmarkethours.com/

I entered long AU 1.0303 m SL 1.0268
Keep Simple...!
  • #29,639
  • Edited 3:07am Jan 11, 2012 2:45am | Edited 3:07am
M5 eu long triggered @ 1.2739
TP hit, closed half of the trade, moved SL to BE +10
trade closed, 1.2772
have a good day fellow sonikers.
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  • #29,640
  • Jan 11, 2012 3:17am Jan 11, 2012 3:17am
Quoting kotlt
try http://www.forexmarkethours.com/

I entered long AU 1.0303 m SL 1.0268
+12 pip and i'm out
Keep Simple...!
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