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Sonic R. System

  • #41,661
  • Nov 30, 2012 7:57am Nov 30, 2012 7:57am
Quoting umbro
Yes you can. 1.29928. But I don't want it to be hit.
But i want :nerd:.

just kidding, wish you end this week with green pips
Keep Simple...!
  • #41,662
  • Nov 30, 2012 8:01am Nov 30, 2012 8:01am
Quoting Shooter150
EURUSD entered short

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Shooter you are a professional sonicr
no gain ..... no pain
  • #41,663
  • Nov 30, 2012 8:04am Nov 30, 2012 8:04am
Quoting Shooter150
GBPUSD entered short

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Some great entries! Work was a little too busy for me this morning to enter on this and a couple other great signals... I noticed the comment about only trading the LS by tah... I think that may be a good part of the strategy in this system to avoid those runs in the opposite direction to acquire positions...
Cheers to all and I hope you have a great weekend!
  • #41,664
  • Nov 30, 2012 8:05am Nov 30, 2012 8:05am
Quoting Shooter150
GBPUSD entered short

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hit my TP +45 pips

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" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #41,665
  • Nov 30, 2012 8:08am Nov 30, 2012 8:08am
Quoting Shooter150
EURUSD entered short

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close manually +10pips

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" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #41,666
  • Nov 30, 2012 8:10am Nov 30, 2012 8:10am
This market is about things going up and down. That's why you need money management. You're making good ! Stay humble and take your trades respecting the others. You'll make the money. I'm your insurance. U

Quoting kotlt
But i want :nerd:.

just kidding, wish you end this week with green pips
  • #41,667
  • Nov 30, 2012 8:15am Nov 30, 2012 8:15am
Quoting umbro
This market is about things going up and down. That's why you need money management. You're making good ! Stay humble and take your trades respecting the others. You'll make the money. I'm your insurance. U
Thank you, at this time i still have AU trade running and having a week with green pips, how about you ?
Keep Simple...!
  • #41,668
  • Nov 30, 2012 8:34am Nov 30, 2012 8:34am
I'm going to sleep. It's 11:31 PM in Japan. I already exited the trade with 10 pips loss before hitting my SL.

Quoting kotlt
Thank you, at this time i still have AU trade running and having a week with green pips, how about you ?
  • #41,669
  • Nov 30, 2012 8:41am Nov 30, 2012 8:41am
Quoting Shooter150
USDCAD entered long

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I prefer to get out on BE , because i m little confused on this pair after this up and after down rally .. There is a potential for up trend but i will stay out .. It's not for me !! ( few pips before my take profit )

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" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #41,670
  • Nov 30, 2012 8:47am Nov 30, 2012 8:47am
Quoting traderathome
NU: Entered short. SL mental (as almost always). Two TPs (tentative).
NU: TP2 reached and trade closed for 41 pips gain, EP1 to TP2.
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  • #41,671
  • Nov 30, 2012 9:15am Nov 30, 2012 9:15am
GbpJpy entered short (SL tight)

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" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #41,672
  • Nov 30, 2012 9:18am Nov 30, 2012 9:18am
Quoting Shooter150
AUDUSD entered short 1.0417

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close manually -3 pips

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" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #41,673
  • Nov 30, 2012 9:37am Nov 30, 2012 9:37am
Quoting mr-trader
Shooter you are a professional sonicr
Big thanks for the compliment! Think that i just practice this system for 1 month and a half .. Here you can do it also you with the help of Tah and also the hepl by the more experience sonicrs .. I see that is your first post , if you want to improve your skills on this system the only you have to do is to post your trades. Good luck my friend and wellcome to our family.. SONICR family !!
" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #41,674
  • Nov 30, 2012 9:44am Nov 30, 2012 9:44am
UJ: Entered short.
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  • #41,675
  • Nov 30, 2012 9:59am Nov 30, 2012 9:59am
Quoting traderathome
UJ: Entered short.
Tah .. you don't use 89 ema any more ?
" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #41,676
  • Edited 10:30am Nov 30, 2012 10:19am | Edited 10:30am
Quoting Shooter150
Tah .. you don't use 89 ema any more ?
Shooter, I am trying to "recondition" myself. Like going back to exercising. I want to see if I can wean myself off of all but the Dragon and PA waves, and using historical PA waves and consolidation areas for picking TPs. A real clean chart with no distractions. My thinking is that if I have only the Dragon and PA waves to look at, I will focus on them; be more picky about the picture before I trade. The nice thing about our indicators is that we can easily turn on/off any feature we want to.
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  • #41,677
  • Nov 30, 2012 10:46am Nov 30, 2012 10:46am
Quoting traderathome
Shooter, I am trying to "recondition" myself. Like going back to exercising. I want to see if I can wean myself off of all but the Dragon and PA waves, and using historical PA waves and consolidation areas for picking TPs. A real clean chart with no distractions. My thinking is that if I have only the Dragon and PA waves to look at, I will focus on them; be more picky about the picture before I trade. The nice thing about our indicators is that we can easily turn on/off any feature we want to.
I see what you mean Tah .. I believe the same . It's possible to be somebody profitable using only dragon, waves analysis and consolidation areas . Maybe , with this way, will be more profitable than using multi time frame and volume indicator or 89 ema .. Sure many times distract us all these from the simple clear picture with a clear wave that yell us "short/buy me stupid, it's so clear" ..

Just inform us when you decide if at the end, is better to using this chart (naked chart - only dragon ) . Thanks !
" Support/Resistance is your friend .. and TREND your girlfriend .. "
  • #41,678
  • Nov 30, 2012 11:12am Nov 30, 2012 11:12am
Quoting traderathome
A real clean chart with no distractions. My thinking is that if I have only the Dragon and PA waves to look at, I will focus on them; be more picky about the picture before I trade. The nice thing about our indicators is that we can easily turn on/off any feature we want to.


I totally agree, the more you rely on indicators the less you rely on your own knowledge and skills. I am also a practitioner of J16 and the "Fail Better" thread. J16 uses VERY few indicators or none and Fail Better uses absolutely none. Both of those use high probably chart pattern setups and do nothing for trends, hence my joining the sonic program as well.

It is very important to have the skills on your own to identify support and resistance areas. For example if you have a sonic pattern that wave fractal says short and its saying right into a previous resistance area that is the first time back as support, it has a HIGH probability of failing to puncture, the setup would have a higher probability of being invalid.

Every book you read says that S/R area's get stronger the more times they are tested... well I personally think that’s a load of crock. I think of S/R areas as the force field, or shields of a spaceship. The more missiles you fire at it the weaker it gets. You can find many examples on any chart of any pair, when price tests an S/R zone several times the bounces off it get smaller, and eventually pierces through. Meaning the shields are getting weaker and don't have enough power to repel the attacks. Obviously this all has to do with price action, the stronger the price action the more likely it is to pierce the S/R.

Why is this important? Well I've never had as much success as I've had trading purely S/R levels during the London session. Asian sessions are prone to violent price action movements, I'm not sure what method they trade over there in the orient but it's definitely different than the Europeans. Which also ties into why the SonicR system prefers the London session to trade, the rules of the system are more relevant, not that they can't be applied elsewhere, it’s just they are the most relevant during the parameters set by the SonicR.pdf

So anyone losing money on trades need not blame anyone but themselves, which is a hard bullet to swallow. I'm no different; I blew up 5,000usd when I stopped trading the London session (I moved countries and my time zones were flipped.) The key is you need to stop, breathe, and evaluate yourself as objectively as possible. Ask yourselves the hard questions;

Am I trading emotionally?
Am I trading my P&L?
Am I trading using ONLY my rules?
Am I using proper MM
Am I getting in too early?
Am I getting in too late?
Are my stops too tight?
Am I holding on to losses too long?
Are my TP goals reasonable?
Are my overall goals reasonable?

The last bit right there is so important! Do you who trade have clear concise goals? Are they reasonable? For example here are my current goals:

=========================================

Start Balance: $1,000USD
Max Leverage: 1:50
Max Lot Size: 0.1
Max Lots: 0.3
Max Risk: 5%

Trying a disciplined approach to trading;
Goals;
Overall: 20pips/day 400pips/month
Short Term: Consistent +pip/month
Long Term Target $5,000

Reward: When I can achieve my goals on demo I will begin live trading again. My first attempt at live trading resulted in blowing up my account due to undisciplined trading.

=======================================================

I now have a clear idea of what I need to achieve, I also have written down clearly exactly what my rules for entry and exit are. I also keep a journal of notes on EVERY trade. What day it was opened, the rule under which caused my entry, my SL/TP targets, and comments relevant to the trade. My comments usually sound something like: I think my stop might be too tight, I think it will reverse @ X area, manually close if true. Also after action reports; Move SL to BE, BE hit then price +50 pips, BE set too early.

This is the level of dedication you MUST have if you want to succeed at being a trader. Otherwise just go to the casino at least they have free booze.

Best wishes in all your trading books,
Mez

  • #41,679
  • Nov 30, 2012 11:37am Nov 30, 2012 11:37am
Quoting traderathome
UJ: Entered short.
TAH new of you ??? cant you share me?. thanks
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  • #41,680
  • Nov 30, 2012 12:11pm Nov 30, 2012 12:11pm
Quoting Mezzy
I totally agree, the more you rely on indicators the less you rely on your own knowledge and skills. I am also a practitioner of J16 and the "Fail Better" thread. J16 uses VERY few indicators or none and Fail Better uses absolutely none. Both of those use high probably chart pattern setups and do nothing for trends, hence my joining the sonic program as well.

[color=black][font=Verdana]It is very important to have the skills on your own to identify support and resistance areas. For example if you have...
Mezzy, another contributed, exceptionally valuable post! I thank you for myself, and for all Sonicers. Often such as this is mentioned here and there, but usually in parts. Not that any such post is complete, but the more that different folks present such considerations from their own viewpoint, the better the chance that it will eventually "ring bells" with others having difficulty without a clear picture of why. Again, thank you for taking the time that you did, to present this to the thread.

-tah
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