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Sonic R. System

  • #30,021
  • Jan 28, 2012 3:02pm Jan 28, 2012 3:02pm
Quoting Shah101
Today i took 2 trades
1. EUR/USD - 70 pips
2. USD/CHF - 50 pips

total 120 pips

have a nice weekend everyone.

Im sure the Basber , sonicdeejay , TAH are all very very rich traders if they were using this system for a few years now.
Did you guys make your million dollars yet?
Don't judge on few trades, but yes, it's a profitable method if you trade it right.

It's not about making a million for me, it's about having a steady progress. I tried to narrow down my trades to make sure that I trade only the best setups. I also brought down my risk as low as 0.4% of my account. Steady income with minimum drawdown is far more important for me than the amount of income (But also it should be reasonable. It's around 20% per season).

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #30,022
  • Jan 28, 2012 3:07pm Jan 28, 2012 3:07pm
Quoting goodchong
Hi Sonicdeejay,

I cannot find any thread on the topic Money Management for Sonic R system. Do you have the detail with example for this?

If have, please direct me.

Many Thanks
Try to demo account first and I recommend you to not to risk more than 1% of your account if you are new (I also believe in 1% rule even if you're experienced, but experienced traders will find their own way to manage their risks).

The concept of "money management" and "risk management" is not that hard, the thing that is really hard is sticking to it. Work on that ..

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #30,023
  • Edited 9:59pm Jan 28, 2012 9:47pm | Edited 9:59pm
Quoting traderathome
"Previous day bar was a Doji, and yesterday bullish engulfing bar show too much strength. This Doji been taken out means more bullish for me." -

Not always is the Doji immediately followed by reversal (see pic). Many times there is a delay of a candle, or several. It is almost like the BBs see the "writing on the wall", but continue pushing in the current direction to give them additional time to close positions at max profit and take on reverse positions.

At this point, I would prefer to have set a hard SL. But even it PA continues higher...
Agree with you on the Doji part that not always immediately followed by reversal.

I was looking more closely at that Doji because specifically its low was taken out, then its high was taken out, both happened on the next day.
I could not really find a similar pattern on the daily over the last few months to show.

Below is my EUR/USD Daily Chart with volume and comments.

Attached Image (click to enlarge)
Click to Enlarge Name: 2012-01-29_EURUSD_D1_FB.png Size: 84 KB
  • #30,024
  • Jan 29, 2012 7:14am Jan 29, 2012 7:14am
i like the simplicity of your chart foxybunny, nice to see you back
  • #30,025
  • Jan 29, 2012 7:39am Jan 29, 2012 7:39am
Quoting ArtfulDodger
Hello goodchong

I'm pretty sure you can go to the main page of Forex Factory and run a search for "money management" and you will probably find tons of links to good stuff.

Also, there is a book entitled "Bird Watching in Lion Country" that I would highly recommend to anyone that has a desire to trade Forex live. It points out many of the pitfalls and offers useful guidelines to follow. I have a link to the book down below.

Best of luck with your trading.
Dear ArtfulDodger,

Thanks for your advice.

By the way, How Many Trader trade live with Sonic R System?

If I want to trade Live for Sonic R. How much I should start from? (for Capital)

Thanks
goodchong
  • #30,026
  • Jan 29, 2012 7:58am Jan 29, 2012 7:58am
Quoting goodchong
Dear ArtfulDodger,

Thanks for your advice.

By the way, How Many Trader trade live with Sonic R System?

If I want to trade Live for Sonic R. How much I should start from? (for Capital)

Thanks
goodchong
How Many Trader trade live with Sonic R System? Me..

Sonic
  • #30,027
  • Jan 29, 2012 9:20am Jan 29, 2012 9:20am
Quoting sonicdeejay
How Many Trader trade live with Sonic R System? Me..

Sonic
count me in master deejay....
  • #30,028
  • Jan 29, 2012 10:06am Jan 29, 2012 10:06am
  •  sam21
  • | Joined Aug 2010 | Status: Soon to be employed by the market | 125 Posts
Quoting traderathome
"Previous day bar was a Doji, and yesterday bullish engulfing bar show too much strength. This Doji been taken out means more bullish for me." -

Not always is the Doji immediately followed by reversal (see pic). Many times there is a delay of a candle, or several. It is almost like the BBs see the "writing on the wall", but continue pushing in the current direction to give them additional time to close positions at max profit and take on reverse positions.

At this point, I would prefer to have set a hard SL. But even it PA continues higher...

I believe tah is trying go gather some hope that his trades will will come back into profit are even break even. friends take note hopes and wishes wont help you in this business, you must have a plan and stick to it.

we are traders don't turn invester when the trade turn against you cut your loss. don't let emotion, hope and wishes take you over...
  • #30,029
  • Jan 29, 2012 11:09am Jan 29, 2012 11:09am
Quoting sam21
I believe tah is trying go gather some hope that his trades will will come back into profit are even break even. friends take note hopes and wishes wont help you in this business, you must have a plan and stick to it.

we are traders don't turn invester when the trade turn against you cut your loss. don't let emotion, hope and wishes take you over...
I certainly don't pretend that I am qualified to speak for TAH, but I've followed his trades and comments with great interest. He doesn't appear to do ANYTHING without thoroughly thinking it through. He seems to have a plan with his long-term trades that is based on his knowledge. Maybe the trades will work out, and maybe they won't, but they certainly aren't random in my opinion.

All I can say is watch and learn - whether it is good or bad, we can still learn something.
  • #30,030
  • Jan 29, 2012 12:49pm Jan 29, 2012 12:49pm
Here is a chart I did earlier for a good friend today explaining how the
market moves in cycles marking prices up and down.

Enjoy.

Regards,
H.
Attached Image (click to enlarge)
Click to Enlarge Name: au.gif Size: 45 KB
"The future is already written in the past"
  • #30,031
  • Jan 29, 2012 2:01pm Jan 29, 2012 2:01pm
Quoting goodchong
Dear ArtfulDodger,

Thanks for your advice.

By the way, How Many Trader trade live with Sonic R System?

If I want to trade Live for Sonic R. How much I should start from? (for Capital)

Thanks
goodchong
Concentrade more on "how much you should RISK", instead of capital. Anyway, I think 1000$ to 3000$ is enough with risking between 0.5% to 1% maximum on each trade. But before that, try to open a demo account, treat it like it's real, open your real account after 3 positive months. Don't rush ...

Regards,
Basber
Trading methods are designed to put the odds in our favor, not predicting.
  • #30,032
  • Jan 29, 2012 2:16pm Jan 29, 2012 2:16pm
Quoting Basber
Concentrade more on "how much you should RISK", instead of capital. Anyway, I think 1000$ to 3000$ is enough with risking between 0.5% to 1% maximum on each trade. But before that, try to open a demo account, treat it like it's real, open your real account after 3 positive months. Don't rush ...

Regards,
Basber
As always, excellent advice. However, I find it difficult to relate a demo account to the real thing since they do not let us control how much money is in the demo account. If we could adjust it to match the amount we plan to open the live account with, it would be much more useful. It would provide us with a better understanding of the effects of margin, etc.
  • #30,033
  • Jan 29, 2012 2:24pm Jan 29, 2012 2:24pm
Quoting ArtfulDodger
As always, excellent advice. However, I find it difficult to relate a demo account to the real thing since they do not let us control how much money is in the demo account. If we could adjust it to match the amount we plan to open the live account with, it would be much more useful. It would provide us with a better understanding of the effects of margin, etc.
I also agree with this statement. Live trading is the only way you will build a psychological growth to add to your trading. Where is the emotion in a demo when real money isn't on the line. The biggest problem with people actually blowing their accounts is because they have terrible money management

The sooner you start live trading the better. It's the fastest way to progress. Just don't lose your shirt lol
  • #30,034
  • Jan 29, 2012 2:40pm Jan 29, 2012 2:40pm
i totally agree with basber. imho, if an individual really wants to immerse into this kind of business trade on demo first to familiarize ones self in the MT platform and applying sonicr entries, TP's and MM, then trade live in small units to feel the psychological aspect of trading. trading live encourages discipline and cautiousness in picking entries.
  • #30,035
  • Jan 29, 2012 3:47pm Jan 29, 2012 3:47pm
Quoting alrightfrank
i totally agree with basber. imho, if an individual really wants to immerse into this kind of business trade on demo first to familiarize ones self in the MT platform and applying sonicr entries, TP's and MM, then trade live in small units to feel the psychological aspect of trading. trading live encourages discipline and cautiousness in picking entries.
You are absolutely right about beginning with the demo account first. Without getting a clear understanding of how the "whole ball of wax" works, you couldn't last very long at all with the live trading. There is a limit to the advantages of demo trading, and sooner or later we have to dive in the deep end and learn to swim. The way to do that is start small (but not TOO small - you need some room to let the normal fluctuations of the market do their thing) and get a REAL understanding of how the market works.

Trial by fire!
  • #30,036
  • Jan 29, 2012 3:59pm Jan 29, 2012 3:59pm
Quoting ArtfulDodger
you need some room to let the normal fluctuations of the market do their thing) and get a REAL understanding of how the market works.

Trial by fire!

I just told you here at this post

Regards,
H.
"The future is already written in the past"
  • #30,037
  • Jan 29, 2012 4:23pm Jan 29, 2012 4:23pm
Quoting ArtfulDodger
You are absolutely right about beginning with the demo account first. and get a REAL understanding of how the market works.

Trial by fire!
art, master hans is giving you a hint re: market cycles.

this is what ive learned from this thread and from a good invisible friend, trading is all about solid understanding of supply and demand aka (S&R), learning how to read PA, and proper money management. have this and youll trade without emotion.
  • #30,038
  • Edited 6:06pm Jan 29, 2012 4:31pm | Edited 6:06pm
Quoting ArtfulDodger
I certainly don't pretend that I am qualified to speak for TAH, but I've followed his trades and comments with great interest. He doesn't appear to do ANYTHING without thoroughly thinking it through. He seems to have a plan with his long-term trades that is based on his knowledge. Maybe the trades will work out, and maybe they won't, but they certainly aren't random in my opinion.

All I can say is watch and learn - whether it is good or bad, we can still learn something.
"....whether it is good or bad, we can still learn something. " - ArtfulDodger

Very few individuals over the very long time of this thread have demonstrated this kind of positive insight, which is so opposite to the usual comments from those with a perception that another trader is in difficulty.

ArtfulDodger, my hat is off to you. Your standards are high. Your attitude is enlightening. And it is indeed a pleasure to have your participation on this thread because it is those of a positive nature that endure and succeed, and from which others can learn.

Regards,
-tah
  • #30,039
  • Edited 6:52pm Jan 29, 2012 6:17pm | Edited 6:52pm
AU:

After a heavily traded drop Friday, this is set up as a SonicR short now, early in the new week asian session. And with EP not all that far below the highs of last week the SL placement is simplified and less painful, and maybe somewhat protected by an intervening TL resistance. It is before the LO, so the run might stall and have pullbacks until later.

Entered short (EP= 1.0628).
Attached Image (click to enlarge)
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  • #30,040
  • Jan 29, 2012 6:58pm Jan 29, 2012 6:58pm
UJ:

After market players torpedoed this Friday, I find this PV story very interesting..... And my plan is.....
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