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Sonic R. System

  • #36,921
  • Edited 11:20am Jul 6, 2012 10:34am | Edited 11:20am
Quoting ArtfulDodger
Hello TAH.

Would it be possible for you to draw your mental SL locations,
so we can see what you are thinking.

Just label it in BIG letters as a mental SL and it will be evident
that it is hypothetical.

Thanks!

ArtfulDodger, I have been including SLs on my trades right along. For this last update on my current AU short trade I decided to leave the SL out. The original SL I showed was reached, and the next in line SL I picked was reached. And I said to myself, "Why bother to put my best guesses for a SL on the chart since I obviously stink at picking them?" Therefore, I left out the SL on the last update post.

I can continue to show SLs, but if others make similar trades with SLs and then the SLs get hit and their trades close, ....but mine do not....are folks going to get upset?

I am still vying to incorporate a hard SL, but I think they only work well on very picky trades. So, I need to get more picky with my trades. And then, maybe, I will find that the SL has some practicality.

Meanwhile, yes, I will continue to show SLs.

-tah
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  • #36,922
  • Jul 6, 2012 10:35am Jul 6, 2012 10:35am
Closed audusd with 68 pips so i am +8 pips today.

Well still better then nothing or minus.



Bloddy friday.
There is no spoon....
  • #36,923
  • Edited 11:24am Jul 6, 2012 10:44am | Edited 11:24am
Quoting duyk20
Live and learn.

I don't get why people would try to catch the bottom after such bearish movement last few days. You are trading the CHART, not your perception. Not advice anyone but I'm talking to myself to.
Good post, duyk20.

And now the volume is starting to say something maybe different. Notice that the US session volume today is slightly stronger than yesterday, as if even more interest exists as the price hits new lows. Are traders thinking price is finally bottoming, and the slightly better activity levels are the closing of shorts and the opening of longs? Nobody knows at this stage. And it is Friday. So, especially if upside is anticipated, chances are the BBs will continue to drift price lower in an effort to continue to collect very cheap longs.

The only "safest" way to trade is to only be short if the Dragon is below the Trend, and not to go long until the Dragon rises to above the Trend, which might not be until at least a second wave up, imho. Maybe at some point next week.

-tah
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  • #36,924
  • Jul 6, 2012 11:50am Jul 6, 2012 11:50am
Quoting traderathome
ArtfulDodger, I have been including SLs on my trades right along. For this last update on my current AU short trade I decided to leave the SL out. The original SL I showed was reached, and the next in line SL I picked was reached. And I said to myself, "Why bother to put my best guesses for a SL on the chart since I obviously stink at picking them?" Therefore, I left out the SL on the last update post.

I can continue to show SLs, but if others make similar trades with SLs and then the SLs get hit and their trades close, ....but mine do not....are...
Thanks for the reply. I personally have been setting hard stops but have begun to think that your method of using mental stops is the best way to go. In my opinion the initial location for a SL is based on the market situation at the time the trade was initiated, and as the trade progresses and the situation changes there is nothing wrong with re-evaluating the SL location. Sometimes moving a SL is the RIGHT thing to do.

I have placed many trades that began in the M15 and evolved into a HTF trade which required the relocation of the stops. The bottom line is, if you still have confidence in the direction of your trade there should be nothing wrong with "fine tuning" the settings and allowing the trade to run it's course.
  • #36,925
  • Jul 6, 2012 12:01pm Jul 6, 2012 12:01pm
Quoting emmanuel7788
Hi jasakreatif

can you ask me easy questions please.
if you want my asnwer today, you must ask on me on last Monday.
or else, use MCQ...for me to pick.
LOL
TGIF.

Trade Well my friend.
answer for my self , if not sure what to do , dont do it .
  • #36,926
  • Jul 6, 2012 12:04pm Jul 6, 2012 12:04pm
Quoting duyk20
Live and learn.

I don't get why people would try to catch the bottom after such bearish movement last few days. You are trading the CHART, not your perception. Not advice anyone but I'm talking to myself too.
some one picking top on ausi , good decision in situation dont know what to do with eur .
  • #36,927
  • Jul 7, 2012 7:44am Jul 7, 2012 7:44am
Quoting GuruKrish
Plz check the link i found in FF
http://www.forexfactory.com/showthre...30#post4055530
Quoting magicfx
Precise trading details and the code to counter act it, i then write specific instructions to counter balance these winning ways.
aaa... thanks for shared it, maybe its a kind of 'word block' when i used some expert robot or indy mt4 closed automaticly but not happen with other mt4 broker, just rename the indy or robot than it running again, same as FF they use javascript to spy us with cookies or something else, it is facility by browser to indentify user.

anyway about contest, i found contest "Traders vs Robots" (http://indo.mt5.com/forumdisplay.php...s-who-will-win) not only him, i analyze too, how contestant do it, look at this fxbook Real Account http://www.myfxbook.com/members/mt5t...ickyibr/310350
i really interested with him, he did great work a month, i analyze when he in, when he closed it, the pairs and how he handle the loss, sadly theend he's balance dead by gold only by single trade maybe he is too greedy, but i still interested how he did.

i found many trader with good work, 100% accuracy is impossible , but 95% it is possible , probability theory mathemathic show it is possible.

http://s19.postimage.org/9rxuoghmp/image.gif
  • #36,928
  • Jul 7, 2012 9:05am Jul 7, 2012 9:05am
Quoting jasakreatif
aaa... thanks for shared it, maybe its a kind of 'word block' when i used some expert robot or indy mt4 closed automaticly but not happen with other mt4 broker, just rename the indy or robot than it running again, same as FF they use javascript to spy us with cookies or something else, it is facility by browser to indentify user.

anyway about contest, i found contest "Traders vs Robots" (http://indo.mt5.com/forumdisplay.php...s-who-will-win)...
Saw a guy on myfxbook before, he's goddam scalper, just take the trade for a few seconds to 1 minute but he could make 1000% return in a month. He took loss too, it's not just 1 month off but he consistently make it. I think there's some rare way to exploit the market.
  • #36,929
  • Edited 9:58am Jul 7, 2012 9:29am | Edited 9:58am
Quoting jasakreatif
aaa... thanks for shared it, maybe its a kind of 'word block' when i used some
I am always suspicious about MT4. It was developed most favourably for broker. Whenever i use my EA it often(weekly) asks for update. After I visit this thread i am manually doing my trade and past 2 months it is not asking any update. I think it updates a copy of running EA to Mt4 broker main server. I came to know Mt4 server having lot of input like our Mt4 indicator. Borker can customize it to any limit. For example a broker can fix the spread by increasing bid and ask price on the chart to +1 pip. If you manually or though EA subtract (bid - ask) give you 2 pips different but you directly check the chart using cross hair tool then only you can find 3 pips spread.
  • #36,930
  • Jul 7, 2012 9:55am Jul 7, 2012 9:55am
Quoting duyk20
Saw a guy on myfxbook before, he's goddam scalper, just take the trade for a few seconds to 1 minute but he could make 1000% return in a month. He took loss too, it's not just 1 month off but he consistently make it. I think there's some rare way to exploit the market.

But U can't really out run the HFT..
Brokers love scalpers.. due to spread..


Sonic
  • #36,931
  • Jul 8, 2012 12:26am Jul 8, 2012 12:26am
Can anyone see L-H-HH
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  • #36,932
  • Jul 8, 2012 5:31am Jul 8, 2012 5:31am
Quoting GuruKrish
Can anyone see L-H-HH
Nice one GK

I always enjoy seeing your amusing posts. They always seem to
lighten the mood and bring us all back to reality.

One problem I see with your chart - I think it is going back in time!

Maybe that was the switch for Daylight Savings Time.

Keep those posts coming.

  • #36,933
  • Jul 8, 2012 1:56pm Jul 8, 2012 1:56pm
Quoting ArtfulDodger
Nice one GK
Keep those posts coming.
Thanks. I will try my friend and I am waiting for the concern person to reply my post #36897. I think he is busy (or) not read that post.

Regards,
K.Guru.
  • #36,934
  • Jul 8, 2012 6:15pm Jul 8, 2012 6:15pm
Quoting GuruKrish
Can anyone see L-H-HH
Yes, I certainly can! And your chart shows that the most powerful of BBs actually reversed the ticker, and went back to previous highs. This is an obvious price manipulation for only one clear purpose.....

......they are shorting!
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  • #36,935
  • Jul 8, 2012 6:32pm Jul 8, 2012 6:32pm
Quoting GuruKrish
Ok TAH i understood why you are not putting SL and it shows your confident on your analysis and picking the correct trend. You are trying to get most pips from each trade so you feel no need for R:R.

I am curious about your setup? Do you take trade of two pairs moving same direction? Have you ever encounter margin call situvation. If not i want to know what is your max risk % you fix in your mind for each trade. For each additional trade, how do you manage your risk of your total Capital or Margin Money?
As I told ArtfulDodger, I do usually show a SL, but mine are not hard. They are mental. And I ususally ignore them if I have confidence in the trade.

If you are curious, you need only review the trades. Sometimes I have trades going on two pairs moving in same direction. Sometimes not. Beyond that, I can only say that I trade very light relative to account size, something I started years back after suffering margin calls. By trading light relative to account size you can diminish that risk considerably, and still leave room to add trades when it may be appropriate to do so.

In the past I have received flak over my trading method. My response has been it is my method and I do not recommend it for anyone else. I have said in the past all I am going to say about it, which is not much because I am not encouraging others to it. Perhaps some day I will gravitate to a more "acceptable" successful method, which then I would be predisposed to detail.

As I have already made plans to adjust my trading method, you will be seeing changes in future posts as I experiment.

-tah
  • #36,936
  • Jul 8, 2012 6:39pm Jul 8, 2012 6:39pm
Quoting GuruKrish
Can anyone see L-H-HH
Hi GK,
yes, L-H-HH .... what I see also is there is Gap Down and ...
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,937
  • Jul 8, 2012 7:04pm Jul 8, 2012 7:04pm
Hi Everyone,
I spent the weekend reading many past posts to catch up in this thread. What that was puzzling me the recent weeks is TAH' way of trading and his money management method in some of his recent trades.

There are only 320 posts where "money management' were keywords. I spent 2 days to read all 320 posts.

I find those posts made by sonicdeejay, Basher, ddaytrader, Domas4, Muhammad989 ... very true and meaningful for real traders who are trading for a living.

Particularly those post by sonicdeejay himself. he mentioned several times on sound money management. He also gave advice to some trader...

Reading all 320 posts confirms one thing that is what I have been reading in books and study about Risk Reward is not crap.

Hope you will also spend time and read those 320 post.

Regards,
EMMANUEL
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Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,938
  • Edited 7:30pm Jul 8, 2012 7:17pm | Edited 7:30pm
Quoting traderathome
As I told ArtfulDodger, I do usually show a SL, but mine are not hard. They are mental. And I ususally ignore them if I have confidence in the trade.

If you are curious, you need only review the trades. Sometimes I have trades going on two pairs moving in same direction. Sometimes not. Beyond that, I can only say that I trade very light relative to account size, something I started years back after suffering margin calls. By trading light relative to account size you can diminish that risk considerably, and still leave room to add trades when...

Hi TAH

Thank you for explaining this again.
Your way of trading and money management is definitely not for me.

This post by sonic made confirms my decision.

http://www.forexfactory.com/showthre...51#post4871051

I hope you will make that change as you want and get real.

Regards,
EMMANUEL
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #36,939
  • Jul 8, 2012 7:41pm Jul 8, 2012 7:41pm
Quoting traderathome
As I told ArtfulDodger, I do usually show a SL, but mine are not hard. They are mental. And I ususally ignore them if I have confidence in the trade.

If you are curious, you need only review the trades. Sometimes I have trades going on two pairs moving in same direction. Sometimes not. Beyond that, I can only say that I trade very light relative to account size, something I started years back after suffering margin calls. By trading light relative to account size you can diminish that risk considerably, and still leave room to add trades when...
TAH, no need to change your method if you are very satisfied and doing well with your method of handling stop losses, money management, etc. Some of the best traders I have worked with are the ones that don't do or recommend what majority of newbies or "books" or online folks or seminars recommend to people to do. No need to change (unless it will be more beneficial for you) for anyone else and risk the possibility of turning into just an ordinary trader falling into the 95% category.
  • #36,940
  • Edited 11:06pm Jul 8, 2012 10:23pm | Edited 11:06pm
Quoting jdtrader
TAH, no need to change your method if you are very satisfied and doing well with your method of handling stop losses, money management, etc. Some of the best traders I have worked with are the ones that don't do or recommend what majority of newbies or "books" or online folks or seminars recommend to people to do. No need to change (unless it will be more beneficial for you) for anyone else and risk the possibility of turning into just an ordinary trader falling into the 95% category.
Thank you, jdtrader, for this post of yours.

I said in my previous post that I had gotten some flak over my method of trading in the past. And now, just above your post, Emmanuel is suggesting that I "get real".....more flak, and simply because I accomodated questions asked. NO MORE!

Folks should just realize there is no single, Official, Approved, Sanctioned, Unified by Concensus, etc., money management method that works. Just like they should realize that if folks follow Master Sonicdeejay's recommendation to place a SL on EU at least 80-100 pips from EP, that it will blow all attempts to have an attractive R:R! Yet, the advice is good, and the trades can be good, too! And under such conditions, lusting after R:R instead of taking good advice is asinine!

As for the Emmanuel's comment. It stemmed from my answering questions prompted by a trade I entered last week. This trade is shown in the chart below. It is still running. After entry, PA blew up thru two SLs I had set (mental SLs, which I ignored). I stayed in the trade all last week, even as price approached 100 pips away from my entry. Then I added a second entry. My method of trading is mine. Period. And, as you can see from the attached chart, the two trades running should do quite well. If PA moves lower, I might not close either trade until PA is at, or below, my tentative TP3 shown. That will be 300+ pips, and that is "get real" enough for me!

So, "folks", is your goal to have a tight SL so you can have an attractive R:R, and then get blown out of many trades as whipping hits your SLs just before the trades starts to run as you had hoped they would? Or, is your goal to make pips?

Whatever it is, do it your own way! Post your trades live! In the end, good methods will prevail and traders can adopt whatever they wish.

-tah
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