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Sonic R. System

  • #34,861
  • May 15, 2012 5:35am May 15, 2012 5:35am
traderathome

Your help is very welconmed.

It's just that I have spent so much time on so many things I didn't want to do that with something I didn't understand.

Now I can dig in and make it work.

Frank
  • #34,862
  • May 15, 2012 5:47am May 15, 2012 5:47am
TAH
is this one considerd good set up for short?
thnx
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  • #34,863
  • May 15, 2012 5:52am May 15, 2012 5:52am
Quoting Conorado
TF 5m
GU Short
EP = 1.6064
SL = 1.6092
TP = 1.6018
Comments are very welcome.

Attachment
Close manually @1.6031 for +33 pips. I think that's enough for me today.
  • #34,864
  • May 15, 2012 5:54am May 15, 2012 5:54am
Quoting Conorado
Close manually @1.6031 for +33 pips. I think that's enough for me today.
Lady trader = good and risk averse trader..

Sonic
  • #34,865
  • May 15, 2012 5:55am May 15, 2012 5:55am
Quoting traderathome
GU:

Re-entered short (EP= 1.6098).
GU:

Revised TP reached for 64 pips gain EP= 1.6098 to TP= 1.6034.
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  • #34,866
  • May 15, 2012 6:01am May 15, 2012 6:01am
Quoting alkenany
TAH
is this one considerd good set up for short?
thnx
ok just got the answewe
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  • #34,867
  • May 15, 2012 6:14am May 15, 2012 6:14am
Quoting traderathome
EU:

Entered Short (EP= 1.2823). Not London session of course, but setup involves increased volume at highs of leg2 and even more volume coming down off those highs on leg3 of the PA wave. The wave is smooth and nicely spaced. Dragon is angled down. And the setup represents PA failure at the half number. So, we'll see what happens.

TP is tentative. PA might not get there and then LO boys pull it back up. Nobody knows. But there it is, for now.
Quoting traderathome
EU:

Added 2nd trade, Scout short (EP= 1.2854).
EU:

SonicR classic trade TP reached for 28 pips gain EP= 1.2823 to TP= 1.2795.
SonicR Scout trade TP reached for 59 pips gain EP= 1.2854 to TP= 1.2795.
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  • #34,868
  • May 15, 2012 6:18am May 15, 2012 6:18am
Quoting traderathome
EU:

SonicR classic trade TP reached for 28 pips gain EP= 1.2823 to TP= 1.2795.
SonicR Scout trade TP reached for 59 pips gain EP= 1.2854 to TP= 1.2795.

Another reaping day for TAH..

http://www.myownmoneycoach.com/money%20bath.jpg

Sonic
  • #34,869
  • May 15, 2012 6:26am May 15, 2012 6:26am
Quoting traderathome
Possible EU Short Senario:

Using a simple line for the Dragon so things are clear. The half number is the key here. Yesterday PA fell thru half number and in the late US session came back to test it, and failed. Today, just before the LO, PA again came up to the half number, went thru and failed at local resistance, fell back thru half number, back up thru it, .....and might now be getting closer to breaking back down thru it.

Targets are lower whole number, RDL and then the half number below. The lower whole number is an obvious target,...
"told cha......" (Had to say that. Not often I get to, like Master Sonicdeejay.)
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  • #34,870
  • May 15, 2012 6:36am May 15, 2012 6:36am
  • #34,871
  • May 15, 2012 6:43am May 15, 2012 6:43am
Quoting traderathome
EU:

EU:

SonicR classic trade TP reached for 28 pips gain EP= 1.2823 to TP= 1.2795.
SonicR Scout trade TP reached for 59 pips gain EP= 1.2854 to TP= 1.2795. Attached Thumbnails http://www.forexfactory.com/attachme...1&d=1337087680

Cannot believe in my eyes!!
Could you please explains clearly how can you see that way??
Thanks you very much!!!
  • #34,872
  • May 15, 2012 6:47am May 15, 2012 6:47am
Quoting sonicdeejay
Lady trader = good and risk averse trader..

Sonic
I must trade very carefully with my new live account (almost blown my previous account by trading gold). Don't want to trade gold again
My broker use 1 lot size (1 pip= US$ 10), it's big money for me. So this is my simple money management: be friend with trend, trade safe, better gain little profit than loss it, there are many chances to trade everyday. By the way i'm still very" newbie in this business (about 4 months ago) and still learning from u and all sonicers.
Maybe the fast way to learn is by blowing ur account
  • #34,873
  • May 15, 2012 6:54am May 15, 2012 6:54am
Quoting traderathome
"told cha......" (Had to say that. Not often I get to, like Master Sonicdeejay.)
TAH, when you are adding to a position that has gone against you, are you doing this because it hasn't hit your stop loss yet and your trade is still valid until it does?

I watched this trade the whole way when you posted it last night and I don't understand how you were able to stay in once price moved above the wave you identified for entry, let alone add to your position with a scout.
  • #34,874
  • Edited 7:57am May 15, 2012 7:39am | Edited 7:57am
Quoting Conorado
I must trade very carefully with my new live account (almost blown my previous account by trading gold). Don't want to trade gold again
My broker use 1 lot size (1 pip= US$ 10), it's big money for me. So this is my simple money management: be friend with trend, trade safe, better gain little profit than loss it, there are many chances to trade everyday. By the way i'm still very" newbie in this business (about 4 months ago) and still learning from u and all sonicers.
Maybe the fast way to learn is by blowing ur account
These are very good choices you are making.

Many will have to learn MM the hard way, and blow one, or many more accounts.

Always protect your capital, that is rule #1. Rule # 2, is never break rule #1

GOLD - this is a dangerous tool indeed. It makes very big fast moves usually and entry is very important to not be caught on the wrong side.

As you also wisely note, 1 pip = $10 is really big for a small account. Probably a good idea indeed to leave Gold alone for now until you are more comfortable with charts, and your account is hopefully bigger. Gold is an AWESOME trading tool, however.

Sounds like you are a very wise beginner so far
  • #34,875
  • Edited 7:56am May 15, 2012 7:40am | Edited 7:56am
Quoting Slider20
TAH, when you are adding to a position that has gone against you, are you doing this because it hasn't hit your stop loss yet and your trade is still valid until it does?

I watched this trade the whole way when you posted it last night and I don't understand how you were able to stay in once price moved above the wave you identified for entry, let alone add to your position with a scout.
When I entered the Classic trade, it was asian session time. And I stated the possibility PA could turn up into the London session. Later, when it started up and I entered the Scout trade, it was with some anticipation that the move up was actually confirming that the "market" was selling, not buying. I was not concerned with trying to pick the absolute high, that is a fools errand. It is sufficient to take on a position at a higher price than before. It doesn't have to be in the highest area. We will never know where the highest area is until after it is all overwith and done. Do you think the BBs add shorts on a drive up only at the top? Hell no!

Look, as long as you do not overtrade your account, and do not oversize your trades, you can be a bit more flexible like this. I do this a lot less frequently than before, because there is higher risk in the anticipation a move up is with selling intent rather than buying intent. This can backfire! It is not Classic Sonic R. It is very much higher risk. It is not recommended. It is not a risk to take on lightly.

Even believing that a drive up is predicated on selling intent, rather than buying intent, does not make positioning the SL any easier. I did not place a "hard" SL on the trade because USD high impact releases were coming. It is a total waste of time to try and second guess where the market might whipsaw the price, should it decide to do so. It came down to the fact that I believed in the short trade and was willing to trade it that way.

-tah
  • #34,876
  • May 15, 2012 7:43am May 15, 2012 7:43am
Afternoon Traders

Something im looking at on the Euro, already had a short which is complete looking at this now

Comments Welcome !
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  • #34,877
  • May 15, 2012 7:50am May 15, 2012 7:50am
Quoting pip4life
Cannot believe in my eyes!!
Could you please explains clearly how can you see that way??
Thanks you very much!!!
I thought I did explain everything clearly in the orginal post.
  • #34,878
  • May 15, 2012 7:51am May 15, 2012 7:51am
Quoting traderathome
When I entered the Classic trade, it was asian session time. And I stated the possibility PA could turn up into the London session. Later, when it started up and I entered the Scout trade, it was with some anticipation that the move up was actually confirming that the "market" was selling, not buying. I was not concerned with trying to pick the absolute high, that is a fools errand. It is sufficient to take on a position at a higher price than before. It doesn't have to be in the highest area. We will never know where the highest area is until...
One thing I will just mention to anyone new looking in.

TAH is VERY good at watching and anticipating what the Big Players are doing, and it's the reason he can trade the way he does.

Of course there are other reasons, like his experience etc, and I would recommend that anyone new NOT try and let price run past their stop losses and add to a losing trade. It is a recipe for disaster for new people.

This is just mho and advice
  • #34,879
  • May 15, 2012 7:54am May 15, 2012 7:54am
Quoting traderathome
When I entered the Classic trade, it was asian session time. And I stated the possibility PA could turn up into the London session. Later, when it started up and I entered the Scout trade, it was with some anticipation that the move up was actually confirming that the "market" was selling, not buying. I was not concerned with trying to pick the absolute high, that is a fools errand. It is sufficient to take on a position at a higher price than before. It doesn't have to be in the highest area. We will never know where the highest area is until...
Ahh ok. Very good then, it isn't something I'll be endeavoring into anytime soon. Thanks!
  • #34,880
  • May 15, 2012 8:00am May 15, 2012 8:00am
Quoting jayjonbeach
One thing I will just mention to anyone new looking in.

TAH is VERY good at watching and anticipating what the Big Players are doing, and it's the reason he can trade the way he does.

Of course there are other reasons, like his experience etc, and I would recommend that anyone new NOT try and let price run past their stop losses and add to a losing trade. It is a recipe for disaster for new people.

This is just mho and advice
thats not about BB , thats high TF trend , trade like that no more than 5% balance , he made all floating minus at the beginning.
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