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Sonic R. System

  • #37,741
  • Jul 23, 2012 1:02am Jul 23, 2012 1:02am
Quoting Robot Trader
But the forming of waves would be somewhat broker (GMT) sensitive
How come? I'm not sure what you mean. Candles are GMT sensitive, waves are not.
cut losses short, let profits run.
  • #37,742
  • Edited 1:39am Jul 23, 2012 1:20am | Edited 1:39am
Quoting Robot Trader
If you are using H4 candles for extra conformation of your EP then it follows your SL may also be based on H4 candle logic, therefore your SL is Tight based on your H4 rules
What you said is correct. I entered the trade after price breaks 4H low. So my comfort Tight SL is based on H4 high.

But when the price cross Dragon 34EMA high. I will close my trade.
  • #37,743
  • Jul 23, 2012 1:28am Jul 23, 2012 1:28am
Quoting Domas4
How come? I'm not sure what you mean. Candles are GMT sensitive, waves are not.
I guess what I am saying is if we take it that waves are formed using the H & L of candles, then if you say candles are broker sensitive, then waves are too.

So if I set my SL say 10 pips above the last 4H candle high (GMT) broker and then price hits my 30 pip TP target (within say 1 hour of a 4H candle starting), I will have traded my wave based on what I see. However your broker could be GMT+2 and within the hour following my TP 30 target being hit price might move up 90 pips, thus when your 4H candle closed price is 60 pips higher than when my 4H candle closed, so your wave would look different than mine.
Some people say I'm lucky, but the more I practice the luckier I get
  • #37,744
  • Jul 23, 2012 1:46am Jul 23, 2012 1:46am
Quoting Robot Trader
I guess what I am saying is if we take it that waves are formed using the H & L of candles, then if you say candles are broker sensitive, then waves are too.

So if I set my SL say 10 pips above the last 4H candle high (GMT) broker and then price hits my 30 pip TP target (within say 1 hour of a 4H candle starting), I will have traded my wave based on what I see. However your broker could be GMT+2 and within the hour following my TP 30 target being hit price might move up 90 pips, thus when your 4H candle closed price is 60 pips higher than when...
the troublesome TF is 4h coz it's will be different for each broker that use different time to start the day, but for a lower time frame it won't be much different.. CMIIW
  • #37,745
  • Jul 23, 2012 1:52am Jul 23, 2012 1:52am
i'm looking for ea to automaticaly move my SL at BE if i reach certain point of profit..

anyone have it? just to make trading easier..

if someone have it, could u share it for me and other trader in this thread? hehe
  • #37,746
  • Jul 23, 2012 1:53am Jul 23, 2012 1:53am
Quoting Robot Trader
I guess what I am saying is if we take it that waves are formed using the H & L of candles, then if you say candles are broker sensitive, then waves are too.

So if I set my SL say 10 pips above the last 4H candle high (GMT) broker and then price hits my 30 pip TP target (within say 1 hour of a 4H candle starting), I will have traded my wave based on what I see. However your broker could be GMT+2 and within the hour following my TP 30 target being hit price might move up 90 pips, thus when your 4H candle closed price is 60 pips higher than when...
Not really. If we trade waves, we do not care about Open and Close of the candle, we care about the range - High and Low.

Quoting Robot Trader
So if I set my SL say 10 pips above the last 4H candle high (GMT) broker
You would set above the High, and it does not matter how the candle would look. The extreme point (price) is still the same if it's Doji, Shooting star or Bearish/Bullish engulfing candles. Broker GMT differences are why some guys get different 4H patterns, but the waves are still the same - Highs and Lows are the same.

For example, you might aswell use two moving averages on 4H chart and still see waves with it's extreme points (HL,HH,LH,LL):
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: hh3333333333.gif Size: 36 KB
cut losses short, let profits run.
  • #37,747
  • Jul 23, 2012 2:00am Jul 23, 2012 2:00am
Quoting alexbs
i'm looking for ea to automaticaly move my SL at BE if i reach certain point of profit..

anyone have it? just to make trading easier..

if someone have it, could u share it for me and other trader in this thread? hehe
If your a member then you will be able to use this link to download a very good EA

http://www.donnaforex.com/forum/index.php?topic=3193.0
Some people say I'm lucky, but the more I practice the luckier I get
  • #37,748
  • Jul 23, 2012 2:04am Jul 23, 2012 2:04am
Quoting Domas4
Not really. If we trade waves, we do not care about Open and Close of the candle, we care about the range - High and Low.



You would set above the High, and it does not matter how the candle would look. The extreme point (price) is still the same if it's Doji, Shooting star or Bearish/Bullish engulfing candles. Broker GMT differences are why some guys get different 4H patterns, but the waves are still the same - Highs and Lows are the same.

For example, you might aswell use two moving averages on 4H chart and still see waves with it's extreme...
Lets say in the example I gave the H = the close of both H4 candles, so I will have traded my wave based on GMT, which will not be the same as your GMT +2
Some people say I'm lucky, but the more I practice the luckier I get
  • #37,749
  • Edited 2:24am Jul 23, 2012 2:10am | Edited 2:24am
Quoting GuruKrish
What you said is correct. I entered the trade after price breaks 4H low. So my comfort Tight SL is based on H4 high.

But when the price cross Dragon 34EMA high. I will close my trade.
Price crossed 34EMA high I close EU with 12 pips loss. I feel price may go high.
  • #37,750
  • Jul 23, 2012 2:13am Jul 23, 2012 2:13am
Quoting Robot Trader
Lets say in the example I gave the H = the close of both H4 candles, so I will have traded my wave based on GMT, which will not be the same as your GMT +2
We do not trade candle closes, we (SonicR system) trade ONLY highs and lows. By trading waves you put your EP, SL and TP according to price extremes, NOT candle closes. Therefore, it does not matter if my broker is GMT +1 or GMT +9.
cut losses short, let profits run.
  • #37,751
  • Jul 23, 2012 2:43am Jul 23, 2012 2:43am
Quoting Domas4
We do not trade candle closes, we (SonicR system) trade ONLY highs and lows. By trading waves you put your EP, SL and TP according to price extremes, NOT candle closes. Therefore, it does not matter if my broker is GMT +1 or GMT +9.
The example I gave was based on using H4 High/Low wave levels for possible SL placement.

If the close of a candle (no wick above, so high = close) = the High point of a wave, then the price is at exactly the same level. I therefore place my SL 10 pips above what is for me a newly formed High point in my GMT wave. This would not be an high point in your wave yet if your broker is GMT +2, because your high point would not be formed for another 2 hours.
Some people say I'm lucky, but the more I practice the luckier I get
  • #37,752
  • Jul 23, 2012 3:11am Jul 23, 2012 3:11am
Quoting Robot Trader
The example I gave was based on using H4 High/Low wave levels for possible SL placement.

If the close of a candle (no wick above, so high = close) = the High point of a wave, then the price is at exactly the same level. I therefore place my SL 10 pips above what is for me a newly formed High point in my GMT wave. This would not be an high point in your wave yet if your broker is GMT +2, because your high point would not be formed for another 2 hours.
You do not determine the High point of a wave, until it turns around. It has nothing to do with a time of the closing candle. If you put your SL over High=Close candle, then I put my SL over the same candle just with a long wick, because my broker is +2 hours.
cut losses short, let profits run.
  • #37,753
  • Jul 23, 2012 3:49am Jul 23, 2012 3:49am
Quoting Domas4
You do not determine the High point of a wave, until it turns around. It has nothing to do with a time of the closing candle. If you put your SL over High=Close candle, then I put my SL over the same candle just with a long wick, because my broker is +2 hours.
Ha ha ha. This argument never ends. I also had an experience with H4. H4 hi low vary from broker to broker it is depends on what time his Mt4 server opens. But H1 and M1 is same with all brokers.
  • #37,754
  • Jul 23, 2012 3:56am Jul 23, 2012 3:56am
Quoting GuruKrish
Ha ha ha. This argument never ends. I also had an experience with H4. H4 hi low vary from broker to broker it is depends on what time his Mt4 server opens. But H1 and M1 is same with all brokers.
GuruKrish, it does not vary. Range does not vary. Open and close of the candles vary.
cut losses short, let profits run.
  • #37,755
  • Jul 23, 2012 4:02am Jul 23, 2012 4:02am
EUR/USD

First trade today. A little bit aggressive entry, with tighter sl.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 95 KB
  • #37,756
  • Jul 23, 2012 4:56am Jul 23, 2012 4:56am
Quoting Timur443
EUR/USD

First trade today. A little bit aggressive entry, with tighter sl.

Attachment
you are against the trend, better to be with it
and no clear wave yet
  • #37,757
  • Jul 23, 2012 5:10am Jul 23, 2012 5:10am
Just when I was learning to properly hate the five decimal place prices, they throw a SIX decimal price at me!

  • #37,758
  • Edited 5:29am Jul 23, 2012 5:11am | Edited 5:29am
Quoting Timur443
EUR/USD

First trade today. A little bit aggressive entry, with tighter sl.

Attachment
L- H - ??
L - H - LL - May be
L - H - HL - May be
  • #37,759
  • Jul 23, 2012 5:14am Jul 23, 2012 5:14am
i didnt know you had to trade with the trend
  • #37,760
  • Jul 23, 2012 5:29am Jul 23, 2012 5:29am
Quoting christinaa
i didnt know you had to trade with the trend
hi christinaa
89 ema line represent the trend more safe to trade its direction
you may need to read more carefully first page
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