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Sonic R. System

  • #31,041
  • Feb 21, 2012 3:06am Feb 21, 2012 3:06am
Quoting traderathome
EU:

Entered short (EP= 1.3237).

1.319x seems ultimate resistance..

Sonic
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  • #31,042
  • Feb 21, 2012 3:14am Feb 21, 2012 3:14am
Quoting traderathome
1. Trying to see if I can live w/o it.
I understand what your saying when you mean live w/o it. As it always creates conflict with price making trade management very difficult. I feel the same as you.
Quote
2. The heavy trading was when the market pushed the price back up to previous highs and then coming off those highs. The heavy trading coming off the highs strongly suggests the market pushed the price up for the sole purpose of having a better price altitude to start it's selloff from. That was the Frankfurt gang. Now the London gang seems to want to do the same?
All of this again will create a bias and any bias according to me is a internal conflict which will make us hard to fight against the market.
A system should be self defined and should not create a bias instead should help us to identify price movements and direction and right money management.

BIAS according to me is a Account Blower
  • #31,043
  • Feb 21, 2012 3:21am Feb 21, 2012 3:21am
Quoting sonicdeejay
1.319x seems ultimate resistance..

Sonic
Could be. Market "rescued" price before it threatened to close the gap; keeping price up in this 1.3200 - 1.3300 range, maybe until Wednesday's releases.

However, it looks like we have three pump 'n dumps back to back. First the asian traders, then Frankfurt, and now Londoners. Check that whopping asian push up on M1 and you'll see the bulk of trading occurred after that initial thrust up! To me, three of these one after another looks exceptionally bearish. Eventually the gap will be closed. I have no idea what the catalyst will be. Maybe Wednesday. Maybe today. But right now, it looks like the market is taking full advantage of the highs, much more so than of the lows. And that can only mean one thing.

We have yet to hear from the US gang. And I wouldn't put it past them to execute a whopping whip up also. They might be the ones to get the price up to the next whole number area for premium shorting.

I'm going to bed. Put my SL above day range high mark.
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  • #31,044
  • Feb 21, 2012 3:24am Feb 21, 2012 3:24am
In H4 ... So I am extremely picky..

Sonic
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  • #31,045
  • Feb 21, 2012 3:30am Feb 21, 2012 3:30am
AU short , is this agood setup?
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Keep Simple...!
  • #31,046
  • Feb 21, 2012 3:31am Feb 21, 2012 3:31am
Quoting adler
I understand what your saying when you mean live w/o it. As it always creates conflict with price making trade management very difficult. I feel the same as you.

All of this again will create a bias and any bias according to me is a internal conflict which will make us hard to fight against the market.
A system should be self defined and should not create a bias instead should help us to identify price movements and direction and right money management.

BIAS according to me is a Account Blower
I disagree that a study of volume creates a bias that is dangerous.

It is ok to see if price gets pushed up and afterwards the market engages in heaviest trading, and conclude the market is shorting. And the reverse. It is ok to see if price gets pushed down and afterwards the market engages in heaviest trading, and conclude the market is longing. In this, volume simply functions as any other indicator, with one exception; it is not a derivative of price as all other indicators are. This makes volume unique and useful, rather than repetitive.

The way to use this information is to put it in our pockets. When the London session arrives, if a setup occurs, and if the setup is in the direction consistent with the indications from previous volume, then we can have more confidence in the setup. It is as simple as that. This is how volume information should be used.

As long as we use volume indications in this manner, we are ok. It is when we jump into a trade on volume alone, and outside the London session, that we create disaster for ourselves.

As Sonicdeejay has often said, we don't trade on volume alone. But volume indications from the study of volume are useful, when used later, in conjuction with a setup, as mentioned above.

-tah
  • #31,047
  • Feb 21, 2012 3:35am Feb 21, 2012 3:35am
Quoting kotlt
AU short , is this agood setup?
...it's not a good setup to my mind, the main reason being that's it is right into the support/demand zone established from the 14th Feb. Just not high enough probability for me...but it might pay off for you if you decide to go for it. Good luck!
  • #31,048
  • Feb 21, 2012 3:36am Feb 21, 2012 3:36am
Quoting traderathome
Geez! Do ya have to be so blunt?
(I was guilty of same crime today of trading before LO, and paid for it.)
Me paid for minus 23pips for EU trading hit SL on 1.3237 EP 1.3260..

GU trade still open.. ^^, I'm still long bias this day for GU dan EU pair
  • #31,049
  • Feb 21, 2012 3:45am Feb 21, 2012 3:45am
Quoting sonicdeejay
In H4 ... So I am extremely picky..

Sonic
Nothing wrong with being picky. In Daily, San Zan,.......(looks like on M15, too).
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  • #31,050
  • Feb 21, 2012 4:00am Feb 21, 2012 4:00am
Quoting traderathome
AU:

Entered short (EP= 1.0720).
AU:

TP1= 1.0676 reached. Closed trade for 44 pips gain EP to TP1.
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  • #31,051
  • Feb 21, 2012 4:08am Feb 21, 2012 4:08am
UChf:

Entered long (EP= 0.9117).
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  • #31,052
  • Feb 21, 2012 4:13am Feb 21, 2012 4:13am
Nice set up in Eur/Usd . But needs to be careful because there seems slightly strong support at 1.3220. if it gets broke, i will go for short.
:
  • #31,053
  • Feb 21, 2012 4:14am Feb 21, 2012 4:14am
Hello
I went long the USD / CHF. What do you say?
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  • #31,054
  • Feb 21, 2012 4:16am Feb 21, 2012 4:16am
Quoting traderathome
1. Trying to see if I can live w/o it.
2. The heavy trading was when the market pushed the price back up to previous highs and then coming off those highs. The heavy trading coming off the highs strongly suggests the market pushed the price up for the sole purpose of having a better price altitude to start it's selloff from. That was the Frankfurt gang. Now the London gang seems to want to do the same?
Just a thought.....

Wouldn't it be better to eliminate the "volume" indicator and just create some type of "alert" that there is an increased amount of "activity" instead?

Activity could indicate the potential for some change in direction, and it is difficult (apparently) to train our brains to think in terms of activity rather than volume. Volume is useless to us since it isn't volume in the true sense of the word.

Some cute little color indicator that would bring the presence of activity to our attention might be useful to us.

  • #31,055
  • Feb 21, 2012 4:21am Feb 21, 2012 4:21am
Quoting sonicdeejay
1.319x seems ultimate resistance..

Sonic
I'm also seeing that level as the lower channel line with a general uptrend in effect.
  • #31,056
  • Feb 21, 2012 4:31am Feb 21, 2012 4:31am
I am in.. See how it goes..

Sonic
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  • #31,057
  • Feb 21, 2012 4:37am Feb 21, 2012 4:37am
Quoting sonicdeejay
I am in.. See how it goes..

Sonic
I'm in on that one also, but not quite as brave as you.

My TP1 is at 1.3204....an apparent support line and also near the lower side of the channel with a slight bullish direction.
  • #31,058
  • Feb 21, 2012 4:42am Feb 21, 2012 4:42am
Quoting ArtfulDodger
I'm in on that one also, but not quite as brave as you.

My TP1 is at 1.3204....an apparent support line and also near the lower side of the channel with a slight bullish direction.
PA just bounced off of the DPV1 line.

Will it go up?......Will it go down?.....

The answer: It will do what it WANTS to do!
  • #31,059
  • Feb 21, 2012 4:55am Feb 21, 2012 4:55am
Quoting traderathome
SL management.

Need more discussion on SL and management of it on this thread. Whipsawing by the market to generate liquidity for it's position building is, in part, designed to hit SLs (but also to trigger "wrong trade" entries into market). Set SLs tight, get taken out. Set SLs real wide to avoid getting hit by whipsaw, and you are gambling on out thinking the market. Get hit with such a wide SL, and that really hurts.

More discussion on this from time-to-time, in real-time based on current market at the time, might...
Having a stoploss hit, whether tight OR wide, should only be painful to our accounts, not our minds.

We have to plan our trades, and set the EP, SL, and TP points based on logic, and then let the trades do what they will. That isn't to say we can't make adjustments as the trade progresses that will BENEFIT the outcome. However it is never a good idea to widen a stoploss position because we HOPE things will go our way.

The more unemotional we can make the trades, the better (in my opinion).

  • #31,060
  • Feb 21, 2012 5:45am Feb 21, 2012 5:45am
Quoting ArtfulDodger
I'm in on that one also, but not quite as brave as you.

My TP1 is at 1.3204....an apparent support line and also near the lower side of the channel with a slight bullish direction.
Ur TP hit.. Bravo

Sonic
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