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Sonic R. System

  • #38,461
  • Aug 8, 2012 11:47am Aug 8, 2012 11:47am
Hi Tah,

I was exactly watching the same as you were doing for UCAD to go long...unfortunatly it went down..How do you handle this ? SL ? is there anyway to avoid taking this trade.

Cheers
Kumar

Quoting traderathome
UCad:

Pending long trade order as shown. SL shown is mental and taken from S&R on H1. TPs as shown with TP2 also taken from S&R on H1.

Edit: shortly after posting there came a sudden spike down in price. Very high trading on the spike, too. Very likely a liquidity creation drive/SL hunt, and possible confirmation that the right trade direction on this pair today is long. My pending order long order stands.
Dragon the best Indicator
  • #38,462
  • Edited 1:58pm Aug 8, 2012 1:38pm | Edited 1:58pm
Anyone else enter this short? eurusd M15
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 115 KB
"The more I practice the luckier I get." Gary Player
  • #38,463
  • Aug 8, 2012 1:58pm Aug 8, 2012 1:58pm
Quoting Grins
Anyone else enter this short? eurusd M15
Yea Grins, I got in on that same short.
  • #38,464
  • Aug 8, 2012 2:00pm Aug 8, 2012 2:00pm
Quoting Dtown
Yea Grins, I got in on that same short.
Well then, I hope you know what you're doing.
"The more I practice the luckier I get." Gary Player
  • #38,465
  • Aug 8, 2012 8:33pm Aug 8, 2012 8:33pm
Quoting Grins
Anyone else enter this short? eurusd M15
Closed manually for 28 pip loss, good aud and china news will make it pop
"The more I practice the luckier I get." Gary Player
  • #38,466
  • Aug 8, 2012 8:54pm Aug 8, 2012 8:54pm
It occurs to me that many of my posts are not pure Sonic. I apologize for this and hope I have not offended anyone by overstepping the boundaries of this wonderful thread. I will limit my comments in the future.

Grins
"The more I practice the luckier I get." Gary Player
  • #38,467
  • Aug 8, 2012 9:03pm Aug 8, 2012 9:03pm
Quoting jasakreatif
i 'm trying .. i see two type banana

yellow is a good colour ...wait and I will share with you all later ...

I dont see spikes in my H4 charts

buying into resistance?
selling into support?

what happen to MTF reconciliation when we trade EMA34 and EMA89 moving averages?

Trade Well!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #38,468
  • Aug 8, 2012 9:07pm Aug 8, 2012 9:07pm
Quoting Grins
It occurs to me that many of my posts are not pure Sonic. I apologize for this and hope I have not offended anyone by overstepping the boundaries of this wonderful thread. I will limit my comments in the future.

Grins
well, no apologies needed for this one.
.
as traders we must make own trade decisions and not take trades simply when someone post and share his trades setups here.
trading is a skill based activity, so every trader must acquire the skills needed for his own trading style.
sideway market condition requires quick reflexes and do the turnaround thing.
Thanks for sharing.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #38,469
  • Aug 8, 2012 9:14pm Aug 8, 2012 9:14pm
Quoting hansma
I don´t consider taking any shorts when you are near a demand area, ie selling into possible trouble. thereby filtering out the setup.

Regards,
H.
thanks Hansma

I paid the price many times.
selling into support ... buying into resistance ... expensive lessons in the past.

Good sharing.
Attached Image
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #38,470
  • Aug 8, 2012 9:20pm Aug 8, 2012 9:20pm
Quoting emmanuel7788
well, no apologies needed for this one.
.
as traders we must make own trade decisions and not take trades simply when someone post and share his trades setups here.
trading is a skill based activity, so every trader must acquire the skills needed for his own trading style.
sideway market condition requires quick reflexes and do the turnaround thing.
Thanks for sharing.
You're very kind. Thank you. I am very much a Sonic student but am not new to trading. I use many inputs for my trading. Sonic is appealing because it is not a robotic strategy, it requires knowledge and chart study, each are necessary to profitable trading.

Grins
"The more I practice the luckier I get." Gary Player
  • #38,471
  • Aug 8, 2012 9:20pm Aug 8, 2012 9:20pm
Quoting Grins
I've been mostly a lurker in this thread as I learn Sonic. I'd like to thank the mentors here, it's a great system. I am posting a chart, gbpusd M15, with my reasons for stalking a long position. It has EW counts. I apologize for the amount of stuff in the chart, it's probably hard to read for many. I am asking for critical analysis of my use of Sonic and my analysis.

I am staking a long entry when PA closes a candle above the dragon but would probably not enter short as wave c seems like it could drop to the .50 Fib at 1.5620, even then I think...

Hi Grin,

Thank you for posting your chart and sharing on Elliot Wave trading.
EW trading is another good example how wave trading can be done and plus combination of channeling technique it is an effective way to trade. Maybe you already know this, but Jeffery Kennedy EW channeling technique is good stuff.

Using your chart, hope you do not mind that I added some comments and added the 2 BUY entries using your wave count 1,2 ,3 4 and 5.
This is one good example where the GU sonicR M15 SELL entry failed and the reversal trade opportunity present itself.

The BUY trade entry 1 although is not sonicR M15 type of entry, …
the Rule: PA above EMA89 and above EMA34 plus the proper identification of wave using L>H>HH> HL are effective to make a trade decision.

Thanks and kind regards,
Attached Image (click to enlarge)
Click to Enlarge Name: Grin gbpusd.jpg Size: 98 KB
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #38,472
  • Aug 8, 2012 9:35pm Aug 8, 2012 9:35pm
Quoting emmanuel7788
Hi Grin,

Thank you for posting your chart and sharing on Elliot Wave trading.
EW trading is another good example how wave trading can be done and plus combination of channeling technique it is an effective way to trade. Maybe you already know this, but Jeffery Kennedy EW channeling technique is good stuff.

Using your chart, hope you do not mind that I added some comments and added the 2 BUY entries using your wave count 1,2 ,3 4 and 5.
[font=Verdana]This is one good example where...
This is good stuff!! Thank you! I have slightly more than a passing familiarity with EW and it's a tool in my box. The waves used in Sonic are not EW but but when all the stars line up..., BTW, I'm short euraud after the news and a nice Sonic set up among other things, sorry, no chart. Feel free to comment on any chart I post, I'm here for one reason, to learn and hopefully contribute.

Grins
"The more I practice the luckier I get." Gary Player
  • #38,473
  • Aug 8, 2012 9:55pm Aug 8, 2012 9:55pm
Quoting Grins
This is good stuff!! Thank you! I have slightly more than a passing familiarity with EW and it's a tool in my box. The waves used in Sonic are not EW but but when all the stars line up..., BTW, I'm short euraud after the news and a nice Sonic set up among other things, sorry, no chart. Feel free to comment on any chart I post, I'm here for one reason, to learn and hopefully contribute.

Grins
EURAUD ... my fav pair currently.
sell the rallies, that is the current flow.
I don't see any strong bullish reversal yet for many weeks.
the last low was 1.16 historical low, and will make new low..
no buys for me until I see PA break above 1.185

Good Trading!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #38,474
  • Aug 8, 2012 10:22pm Aug 8, 2012 10:22pm
my view, good to sell now

Attached Image (click to enlarge)
Click to Enlarge Name: audusd_09-08.jpg Size: 175 KB
  • #38,475
  • Aug 8, 2012 10:38pm Aug 8, 2012 10:38pm
Quoting marcianokent
my view, good to sell now

Attachment
I don't see how you're getting a sell signal from the Sonic System...
  • #38,476
  • Aug 9, 2012 12:18am Aug 9, 2012 12:18am
i am in
longed eu 1.2382
Attached Image (click to enlarge)
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  • #38,477
  • Aug 9, 2012 12:44am Aug 9, 2012 12:44am
Hello all,

Just wondering if there are any rules about stop loss pips.

I have been trading some Sonic R setups on the 15 min, that have stop loss as low as 7-12 pips. Is this unacceptable?

My current risk management is to only risk 1% of my current account total for any one trade. Usually I am aiming for a 1:1 risk reward ratio.

I am considering; as someone before has mentioned a 70%@ 1:1 and 30%@ 1:2 or 1:3.


Do any of you guys consider 7-12 pips too low?
Any advice I can get to help maximize/reduce risk?
  • #38,478
  • Aug 9, 2012 12:52am Aug 9, 2012 12:52am
Quoting Discipliner
Hello all,

Just wondering if there are any rules about stop loss pips.

I have been trading some Sonic R setups on the 15 min, that have stop loss as low as 7-12 pips. Is this unacceptable?

My current risk management is to only risk 1% of my current account total for any one trade. Usually I am aiming for a 1:1 risk reward ratio.

I am considering; as someone before has mentioned a 70%@ 1:1 and 30%@ 1:2 or 1:3.


Do any of you guys consider 7-12 pips too low?
Any advice I can get to help maximize/reduce risk?
Hi,
I don't know if you are scalping on M15 or intraday trading, or swing trading using M15 entry.

Do you know the Position Sizing game?

Recommended read: Dr Van Tharp' book title "Super Trader".
Also go to his website and play the position sizing game.

regards,
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #38,479
  • Edited 1:12am Aug 9, 2012 1:00am | Edited 1:12am
Quoting alkenany
i am in
longed eu 1.2382
closed -10 pips
i shorted on H1 @ 1.2366 using ABC which i short from C , my favotite old style with sonic h1 sl1.2396 (30 pips) TP 1.2290
Attached Image (click to enlarge)
Click to Enlarge Name: s3.gif Size: 39 KB
  • #38,480
  • Aug 9, 2012 2:26am Aug 9, 2012 2:26am
Quoting traderathome
UCad:

Pending long trade order as shown. SL shown is mental and taken from S&R on H1. TPs as shown with TP2 also taken from S&R on H1.

Edit: shortly after posting there came a sudden spike down in price. Very high trading on the spike, too. Very likely a liquidity creation drive/SL hunt, and possible confirmation that the right trade direction on this pair today is long. My pending order long order stands.
UCad: SL hit for 20 pips loss EP1 to SL1.
Attached Image (click to enlarge)
Click to Enlarge Name: aug 2012 - 053.gif Size: 32 KB
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