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Sonic R. System

  • #29,661
  • Edited 11:56am Jan 12, 2012 11:45am | Edited 11:56am
Quoting alrightfrank
re-entry long eu, target TP's?

both TP hit.
You could've took TP1 at your second TP area and let the rest run. Your first TP is not supported with a strong S&R zone even in M15. Another thing is your TPs is too close to each other. The point of taking partial profit is to extend the profit as much as you can.

I had EU long too, took half off @ 1.2792 and I'm trailing the second half, now SL in profit. It's @ 1.2785 targeting 1.29xx area. Solid TP before the round number 1.3000 of course. Also had AU long which closed @ BE.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,662
  • Jan 12, 2012 11:48am Jan 12, 2012 11:48am
Quoting mg_vinodkuma
Closed with 4 pips +..very boring..very low volume.

Regards
Kumar


Trading SHOULD be boring, if not, you're going to lose because you're probably going to act on your emotions, not your rules.

Just try to stick to your plans. You could've made at least a 1:1 sharpe ratio profit on this one.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,663
  • Jan 12, 2012 11:52am Jan 12, 2012 11:52am
Quoting mg_vinodkuma
Closed TP 40 pips

Cheers
Kumar
I recommend that you have multiple TPs, at least 2. You can have more when you're trading with the major trend in longer TFs. It helps to catch the big moves. I usually bring SL to BE when I'm in profit in amount of my SL and close half. For the second half I have a solid TP at important area (like 1.3000 in EU), and I trail it with minor S&R zones in M15 and H1.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,664
  • Jan 12, 2012 1:47pm Jan 12, 2012 1:47pm
Good day to trade.
  • #29,665
  • Jan 12, 2012 3:05pm Jan 12, 2012 3:05pm
You are right. Next time I will.
  • #29,666
  • Edited 5:54pm Jan 12, 2012 5:30pm | Edited 5:54pm
Quoting Basber
You could've took TP1 at your second TP area and let the rest run. Your first TP is not supported with a strong S&R zone even in M15. Another thing is your TPs is too close to each other. The point of taking partial profit is to extend the profit as much as you can.

I had EU long too, took half off @ 1.2792 and I'm trailing the second half, now SL in profit. It's @ 1.2785 targeting 1.29xx area. Solid TP before the round number 1.3000 of course. Also had AU long which closed @ BE.

Regards,
Basber
Basber, I had a single TP (1.2775), lower than your TP1 (1.2792). Furthermore, I took half off at an even lower level (1.2750), at which time I moved SL to BE. Now, I was conservative in all this because the trend has been down (see Daily chart). For all we knew, this would only be another pullback/temporary ranging in the down trend. And getting greedy with more expansive TPs might mean they don't get hit, and PA starts falling again, and the trade ends up as a lost profit opportunity, or worse, a loser.

Maybe you saw something that I missed that gave you more confidence to hold out for a higher TP1 and TP2. I'd like to know your thinking on that. With PA dropping in 100+ and 150+ steps, I thought a final TP about 100+ pips off the bottom was reasonable. What say ye?

Regarding having TPs close to each other when using the technique of taking partial profit to extend the profit as much as you can, it works well to squeeze out extra profits when PA might not be moving all that far overall. When setting conservative TPs might be the best thing to do, I see setting close TPs and using the technique of taking partial profits as an excellent thing to do. Am I missing something here?
  • #29,667
  • Jan 12, 2012 5:47pm Jan 12, 2012 5:47pm
Quoting Basber
I had EU long too, took half off @ 1.2792 and I'm trailing the second half, now SL in profit. It's @ 1.2785 targeting 1.29xx area. Solid TP before the round number 1.3000 of course. Also had AU long which closed @ BE.

Regards,
Basber
If the PA breaks 1.2839, it goes to 1.2909.

Totally agree with your SL @ 1.2785...maybe 2780 better (a bit below the minor S&R)


Regards,
Nando.
"Being picky only cost your time - not MONEY"...Hans
  • #29,668
  • Edited Jan 13, 2012 3:02am Jan 12, 2012 11:00pm | Edited Jan 13, 2012 3:02am
eu long entry triggered (caution! whipsaw friday )
1.2850 closed @ 1.2865
1.2861 targeting 1.2900 SL hit!
have a good day fellow sonikers...
Attached Image (click to enlarge)
Click to Enlarge Name: m5.gif Size: 20 KB
  • #29,669
  • Jan 13, 2012 1:54am Jan 13, 2012 1:54am
Quoting traderathome
Basber, I had a single TP (1.2775), lower than your TP1 (1.2792). Furthermore, I took half off at an even lower level (1.2750), at which time I moved SL to BE. Now, I was conservative in all this because the trend has been down (see Daily chart). For all we knew, this would only be another pullback/temporary ranging in the down trend. And getting greedy with more expansive TPs might mean they don't get hit, and PA starts falling again, and the trade ends up as a lost profit opportunity, or worse, a loser.

Maybe you saw something that I missed that...


I totally agree with being conservative on counter trend trades. But I believe in CT trades, price can have good retraces, but there should be a good support to go in with such a corrections and give the trade more room to go. Most of the time I deal with CT trades like you said, but here's why I gave a little more room to this one :

As you can see in the picture which I attached, there is a nice Double Bottoms (W) on H4 (One of my longer TF which I analysis the price) with class A divergence on RSI supporting it. I'm in the trade from 1.2719 (Entry was not with SonicR) so it gives me a lot room to play with this one. There are different types of criteria which in many of them you see price retraces a little bit in a trendish market, but sometimes there are situations (like what I discribed above) which you can expect to see a retrace with good possibilityto the trendline itself even it didn't change the trend. In this trade, I thought it will touch 1.293x (where it will touch the trend) even if it reverses and turn downside. If I'm right and price reaches there, I monitor PA very carefully around the trend line. If it turns, I will close the trade and I will not let it go below 1.2900 with my trade open. If it breaks, I hold on to it till it reach arount 1.3000 then quit. It's not about being greedy, it's about being reasonable when to give CT trades more room. I may be wrong, but it works for me in long run. When I have less support for CT trades, I will bring SL to BE sooner than it goes in profit in amount of my SL and I look for small profits rather than big ones, like you said.

I will not say having close TPs is wrong, but having several TPs is for catching the most from the market. So putting them close to each another will make traders to forget the main concept of having them. Again, I emphasize that there should be different trade managements in different situations. If someone is scalping, 25 pips diffrentiation between TPs is reasonable, if you see less support for CT trades, it's acceptable or it's even appropriate to have only one TP. But if you see good support for your trade, why not going for good money ?

Most people think greed is something bad that make you lose money, but I believe it's a tool. You can kill a person with a knife or you can make a good use out of it. Greed sometimes work in your favor, you should know when to use it.

Just my 2 cents though ...

Regards,
Basber
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 95 KB
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,670
  • Jan 13, 2012 2:23am Jan 13, 2012 2:23am
Quoting Basber
I totally agree with being conservative on counter trend trades. But I believe in CT trades, price can have good retraces, but there should be a good support to go in with such a corrections and give the trade more room to go. Most of the time I deal with CT trades like you said, but here's why I gave a little more room to this one :

As you can see in the picture which I attached, there is a nice Double Bottoms (W) on H4 (One of my longer TF which I analysis the price) with class A divergence on RSI supporting it. I'm in the trade from 1.2719...
You thoughts and charts are priceless for this forum and system, Basber, thank you !
Patience is the key.
  • #29,671
  • Jan 13, 2012 2:43am Jan 13, 2012 2:43am
Quoting Basber
You could've took TP1 at your second TP area and let the rest run. Your first TP is not supported with a strong S&R zone even in M15. Another thing is your TPs is too close to each other. The point of taking partial profit is to extend the profit as much as you can.

I had EU long too, took half off @ 1.2792 and I'm trailing the second half, now SL in profit. It's @ 1.2785 targeting 1.29xx area. Solid TP before the round number 1.3000 of course. Also had AU long which closed @ BE.

Regards,
Basber
Set SL @ 1.2830 as attached ..

Regards,
Basber
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.jpg Size: 109 KB
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,672
  • Jan 13, 2012 2:44am Jan 13, 2012 2:44am
Quoting odges
You thoughts and charts are priceless for this forum and system, Basber, thank you !
You're welcome Odges

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,673
  • Jan 13, 2012 4:11am Jan 13, 2012 4:11am
Sonikers,

entered GU short..Let see how it goes..
Attached Image (click to enlarge)
Click to Enlarge Name: gu_1301.JPG Size: 90 KB
Dragon the best Indicator
  • #29,674
  • Jan 13, 2012 6:50am Jan 13, 2012 6:50am
master hans, this should have been a good take but the FE didnt fall on the right areas. your thoughts pls...
Attached Image (click to enlarge)
Click to Enlarge Name: m5.gif Size: 25 KB
  • #29,675
  • Jan 13, 2012 7:04am Jan 13, 2012 7:04am
Quoting alrightfrank
master hans, this should have been a good take but the FE didnt fall on the right areas. your thoughts pls...
Hi Frank,

I donīt see any setups om 5/15 min charts today for this kind of trading ( FE setups).

However you could have faded the top at 1.2880 on the 1 hour chart today.

Not Sonic trading, but s+r trading.

Hope this helps.

Regards,
H.
Attached Image (click to enlarge)
Click to Enlarge Name: eu-jan13-2012-1hour.gif Size: 37 KB
"The future is already written in the past"
  • #29,676
  • Jan 13, 2012 7:21am Jan 13, 2012 7:21am
Quoting Basber
Set SL @ 1.2830 as attached ..

Regards,
Basber
Second half closed with +111 pips
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,677
  • Jan 13, 2012 7:41am Jan 13, 2012 7:41am
Quoting Basber
Second half closed with +111 pips
are you using 1hour TF ?
--------------------
  • #29,678
  • Jan 13, 2012 8:00am Jan 13, 2012 8:00am
Hi mates:

Here my trade today.

1st half closed +30...SL@BE.
Final TP 1.2670.


Good weekend for all.

Regards,
Nando.
Attached Image (click to enlarge)
Click to Enlarge Name: eu-13-01-2012_m5_trade.gif Size: 23 KB
"Being picky only cost your time - not MONEY"...Hans
  • #29,679
  • Jan 13, 2012 8:17am Jan 13, 2012 8:17am
Quoting leandar_
are you using 1hour TF ?
Usually I use H4 and Daily as higher TF and M15 as lower TF for my analysis. I trailed my trade with M15 S&R zones.

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #29,680
  • Jan 13, 2012 9:42am Jan 13, 2012 9:42am
Quoting nando_rich
Hi mates:

Here my trade today.

1st half closed +30...SL@BE.
Final TP 1.2670.


Good weekend for all.

Regards,
Nando.
TP2 HIT...+109 PIPS.
"Being picky only cost your time - not MONEY"...Hans
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