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Sonic R. System

  • #30,221
  • Feb 2, 2012 11:18am Feb 2, 2012 11:18am
AU:

Entered short (EP= 1.0704). This is about where I entered earlier, and was stopped out. The SL is a little higher this time and PA highs are a little lower. It might work out better, even accepting the higher risk of a post-London session trade where momentum can suddenly fail. We will see.
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  • #30,222
  • Feb 2, 2012 11:23am Feb 2, 2012 11:23am
Quoting paapi
Hi Tah..,

I think you should make the indicators zip of all your releases password protected, and the password should be "I will make sure I read all the indicator Compiles before I ask any questions and I will try to read as many posts as possible to learn how to use the indicators and thereby try to learn SonicR"
Wecome to SonicR! You've now been duly indoctrinated and inducted! And your first permanently assigned responsibility here is to answer all such future questions by others. (Just kidding.)
  • #30,223
  • Feb 2, 2012 11:31am Feb 2, 2012 11:31am
Quoting traderathome
AU:

Entered short (EP= 1.0704). This is about where I entered earlier, and was stopped out. The SL is a little higher this time and PA highs are a little lower. It might work out better, even accepting the higher risk of a post-London session trade where momentum can suddenly fail. We will see.
Could be quite fruitful I reckon!

You're selling in a nice daily supply zone...
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  • #30,224
  • Edited 12:02pm Feb 2, 2012 11:38am | Edited 12:02pm
EU and Market Comment:

Remember, this pair tends to have swings of 100+ and 150+ pips. So, I am wondering if it is possible (after two spikes up, presumably for BBs to take on attractively priced shorts) that this will achieve the low range mark today, a swing down of just less than 150 pips. And if so, then another 100 pips tomorrow? That is very optimistic considering the London session has ended. More conservative would be for the 150+ pip swing down to complete tomorrow. Then further downside next week. We will see. The "market" decides. And after the multiple USD high impact releases tomorrow, the "market" might just decide to swing it back higher again (the current high range mark is 150 pips above the last swing low).
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  • #30,225
  • Edited 12:47pm Feb 2, 2012 12:11pm | Edited 12:47pm
UChf and Market Comment:

Again this looks to be setting up for a long. London session has ended; higher risk of losing momentum. Careful.

The market will decide. There were multiple USD high impact releases yesterday. There have been multiple USD high impact releases today. And there are multiple USD high impact releases tomorrow. This is "Release Overload!" week. The market might not have yet "responded"; maybe only preparing a response. The market will decide what the response for USD pairs will be, and when it will happen.
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  • #30,226
  • Feb 2, 2012 5:22pm Feb 2, 2012 5:22pm
What a screwy day we had. There was not one but two big fake breakout, sure to whip both side of traders..

Trading Fx is not for the ill prepared trader..

Today we have NFP, more to come..

Cheers,
Sonic
  • #30,227
  • Feb 2, 2012 6:00pm Feb 2, 2012 6:00pm
Quoting traderathome
AU:

Entered short (EP= 1.0705).
Hi, tradeathome

what tools you use to define TAKEPROFIT (level1, level2....)

Thanks
  • #30,228
  • Feb 2, 2012 6:06pm Feb 2, 2012 6:06pm
Quoting sonicdeejay
What a screwy day we had. There was not one but two big fake breakout, sure to whip both side of traders..

Trading Fx is not for the ill prepared trader..

Today we have NFP, more to come..

Cheers,
Sonic
The question is, was the whipsawing a reaction to "news" apart from the USD high impact releases (like "implications" out of china that favor euro if it can get it's act together), or was it the BBs simply initiating their SOP (Standard Operating Procedure), preparing for a major drive?

The downwards drift of PA is unabated. EU tends to move in 100+ to 150+ swings. Occassionally there are 200+ and even 250+ swings. I am now wondering if we might be in store for one of those! Yes, more whipsawing could come, and possibly such as that make these whipsaws look like nothing!

I have yet to master the placement of SL, so any suggestions shall be appreciatively received.
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  • #30,229
  • Edited 7:47pm Feb 2, 2012 6:25pm | Edited 7:47pm
EU:

Entered EU short (EP= 1.3131). Things are wacky. Therefore it is possible we get an asian session move amounting to something. London/US session tomorrow could involve some real headache whipsawing; hard on any trade already initiated. I look to close this before then (though the pic shows a longer term plan should this actually go short) with possibly a new entry trade during the London session based on whatever goes on then.
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  • #30,230
  • Edited 7:36pm Feb 2, 2012 6:46pm | Edited 7:36pm
Quoting noobtrade
Hi, tradeathome

what tools you use to define TAKEPROFIT (level1, level2....)

Thanks
My thesis on selecting "Take Profit" levels goes like this......

1. Historic PA support/resistance/consolidation areas are prime sources from which to select a level to take profit.

2. These levels traditionally align with quarter divisions of whole number levels, a psychologically driven holdover practice from eons ago when nothing was more advanced than parchment, quills and ink wells.

3. Range high/low marks for the day are valid guides to help assure at least one take profit level is within reason.

4. Also, EU tends to swing in 100+ to 150+ amounts, and occasionally in 200+ and even 250+ amounts.

Therefore, considering #1 thru #4, I try to set take profit levels so that one is within the day range, and if more than one, that the second aligns with a likely swing. Selecting a level begins with selecting the nearest appropriate quarter division of the whole number. Then the actual TP is placed on one side of it, or on the other; whichever side is first hit based on the trade direction.

I have for a long time steadfastly believed in "Levels", the quarter divisions of the whole numbers, as a "universal" way to select TPs. Still, I have used pivots, and tools such as the Fib Retrace tool and the Fib Extension tool. Whatever I used, I compared the results to historic PA. The thesis above is the culmination I have recently hammered out in my own mind and begun to follow because it makes for a much cleaner chart. For me that means it is a chart much easier for me to read PA on. And the thesis is still predicated on checking selected TP(s) against historic PA support/resistance/consolidation areas, because this is a fundamental of the Sonic R. System.

Regards,
-tah
  • #30,231
  • Edited 8:20pm Feb 2, 2012 7:39pm | Edited 8:20pm
EURUSD short EP 1.31324 (00:47 GMT, not easy trade and post just in time)
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  • #30,232
  • Feb 2, 2012 7:54pm Feb 2, 2012 7:54pm
Quoting mogulmedia
Hi Peter,

Out of interest at what point do you move your stop to BE?

Thanks
hi mogulmedia,

not easy to answer, moving stops ia a difficult part and many times I am not sure if I am doing right.

After +20 pips I often move stop to BE (+3). Not always, it depends and intuition helps.

Yesterday I was spiked out, that happens.

I think next time I will more often close 50% at TP and move then stop to Breakeven.

futurespeter
  • #30,233
  • Feb 2, 2012 8:09pm Feb 2, 2012 8:09pm
Quoting traderathome
The question is, was the whipsawing a reaction to "news" apart from the USD high impact releases (like "implications" out of china that favor euro if it can get it's act together), or was it the BBs simply initiating their SOP (Standard Operating Procedure), preparing for a major drive?

The downwards drift of PA is unabated. EU tends to move in 100+ to 150+ swings. Occassionally there are 200+ and even 250+ swings. I am now wondering if we might be in store for one of those! Yes, more whipsawing could come, and possibly such as that make...
E/U M30 show Dragon flat, gives no good entry yet, and prefer waiting for LO/UO as red news NFP today.

If you considering Short, prefer to enter around 1.3190 near your Red Line (eg. your SL) as that is also where you drawn the down trend line.

Then can put a tighter SL near the starting point of the Purple horizontal line around 1.3220 for a smaller SL of 30-40pips, rather then entering price currently 1.3130 for a SL of 90-100pips.
  • #30,234
  • Feb 2, 2012 8:15pm Feb 2, 2012 8:15pm
All I can advice is hand off during Asia Session

Sonic
  • #30,235
  • Feb 2, 2012 8:53pm Feb 2, 2012 8:53pm
Quoting sonicdeejay
All I can advice is hand off during Asia Session

Sonic
Hi Sonic,

Maybe you should devise a way where the thread does not open between Asian and London session and only opens an hour from London session.., and that would solve this problem of trading in Asian sessions
  • #30,236
  • Feb 2, 2012 8:54pm Feb 2, 2012 8:54pm
Quoting sonicdeejay
All I can advice is hand off during Asia Session

Sonic
That is the best advice and always the best advice. And repetition of it is never too much. (Not in my case, anyway.) Thanks, Sonic.
  • #30,237
  • Feb 2, 2012 9:01pm Feb 2, 2012 9:01pm
Quoting traderathome
UChf:

Entered long (EP= 0.9156).
UChf:

Manually closed at 0.9176 for 20 pips gain EP to close.
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  • #30,238
  • Feb 2, 2012 9:14pm Feb 2, 2012 9:14pm
I think one is much better off to manually close for x amounts of pips than to let the trade hit a SL.
  • #30,239
  • Edited 9:34pm Feb 2, 2012 9:20pm | Edited 9:34pm
Quoting foxybunny
E/U M30 show Dragon flat, gives no good entry yet, and prefer waiting for LO/UO as red news NFP today.

If you considering Short, prefer to enter around 1.3190 near your Red Line (eg. your SL) as that is also where you drawn the down trend line.

Then can put a tighter SL near the starting point of the Purple horizontal line around 1.3220 for a smaller SL of 30-40pips, rather then entering price currently 1.3130 for a SL of 90-100pips.
Foxybunny, that all sounds very nice. Especially if this was about picking tops/resistance/supply areas. But it is not. That is not what the Sonic R. System is about.

But momentum (a benefit intended by entering in the London session) is part of the Sonic R. System. That part I risked to waive by entering when the other requirements of Sonic R. were in place. I show this on attached H1, but also easy to see on M15. Also on M15 we see the area being used lately to consolidate (position building) and that includes the time you refer to the Dragon as having been flat. The drives up from this position building area have continually gotten smaller and overall PA is in a down trend.

Of course, no one knows what the next minute will bring, let alone the market response to all the USD high impact releases this week, which we have not yet seen. I took the EU short trade with the possibility in mind to collect some few pips and be out of it before the shit hits the fan! And possibly enter anew, later, once we see what is what.
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  • #30,240
  • Feb 2, 2012 9:34pm Feb 2, 2012 9:34pm
does this system work on a M5 chart?

Has anyone here tried it? what were the results
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