Sonic R. System

AU: Added Scout long.

UCad: Entered long on pullback to EP area. No SL. No TP as of yet.

EU: Entered Scout short. Why there? See pic. 2. Still higher risk than classic Sonic R., but then most Scouts are.

How many entry have you been added? i'm curious how many pips you are red now?

Ask me that next week.

are all the trade still in MM 2-5%, how many % your risk management? can u Share Prof TAH?

GU: Entered short. No SL, TP at this time, (should be labeled EP5).

Suggest you read my past posts, as I have anwswered many times different questions on the subject. But, I will repeat the salient point. Trade very light relative to account(s) size in order to preserve wiggle room for when needed.

And I am very adamant about Sonicers keeping the size of their accounts and the size of their trades to themselves. It is personal, or should be. Moreover, I don't want some folks coming here and seeing miniscule sized trades and leaving thinking we are all small time pikers. Nor do I want others to come here and be intimidated and leave thinking we are all rich bastards.

Read on the subject you are interested in; read here the posts others have made and read books, etc. Work out your own money management techique based on your own personality, account(s) size and degree of discipline.

-tah

EG: Possibly a short will be in the near future of this one.

Many EUR/xxx pairs have been climbing up strongly last few days, all possibly Short in near future.

Yesterday got caught out with Short on EUR/USD far too early with Scout trades all scalped, no more Scouts for now, now must wait for clearer down signs before entering.

Just noted there is NFP News today, maybe after this news or even next week before seeing a real move again.
Could be the "Pump & Dump" effect.

Forex vs Stock Market

While learning to trade successfully, one might try trading very, very small relative to account(s) size. I agree that this might not be the best "growth" method when considering the time value of money at various other "safe" interest rates. But then, what else is really safe anymore. And this way you "stay in the game" much better, meaning you lose less when you lose and you still have much, much more left to use to correct, improve and advance.

I disagree with pointing to the stock market as another place to put money to work. Retail traders are at a serious disadvantage there. For example, you have to have much larger accounts to have margin. And without it, you really can't trade at all due to the "Free Ride Rule". And you can't short. Even with a margin account you can't conveniently short because the stock might be too low in price, or the broker has already siezed all available shares for themselves, or there simply aren't any left to short! And then there is the apitomy of evil...."The Thieves of Wall Street", who take positions short (yeah, using up availability) and then dump tens of thousands more counterfeit shares into the market to drive the price down! Naked Shorting! SEC regulation? Farsical! The stock market is as evil and as manipulated a place as there is! Any moral person should avoid it, avoid doing business with it, and avoid owning its products. Not until there is an upswell against the New York Stock exchange, and other exchanges, and the farsical "self-regulation" and the "do nothing, look the other way" SEC, this place will never change. And unless it does change, it is no place to trade, or leave your money for them to use.

Consider the fact that it was the greedy "The Thieves of Wall Street" that put the world in the pickle it is now in! Do you know that it is a crime, a violation of Federal law statutes for a CEO and CFO to sign off on their financial reports that contain false information? It is well known that, for example Lehman Bros., and Countryside Financial (grew to be biggest mortgage brokerage in the US) hid billions of dollars of losses,...never appeared in their finacial statements. And this was going on months and months before the shit hit the fan! To this very day, do you see that the Federal Dept. of Justice has brought to prosecution for this crime any CEO or CFO? No! So, don't expect anybody to step on the toes of the "Thieves of Wall Street" anytime soon!

Certainly things in the forex market are not "a bed of roses". But it is a far fairer trading arena! The MMs in the forex market do manipulate considerably, but they can do oh, so much more manipulations in the stock markets! Let's face it! Where the currencies of countries are involved, unrestrained manipulations will not be tolerated, as they are in the stock market. Central Banks will intervene to make corrections. When was it that anyone intervened in the stock market to "correct" prices of stocks that "The Thieves of Wall Street" drove into the ground? Huh? In fact, when the "The Thieves of Wall Street" drove global finances into the ground, who the hell got bailed out!

If you have money, have principles. Elsewise, you'll likely end up with neither, and will deserve it.

Just my opinion.
-tah

"Just noted there is NFP.....Could be the "Pump & Dump" effect...." - foxybunny

Gee! Really, do you think so?

foxybunny, you make me laugh.....
-tah

Such a good trend up..rather should looking for re-entry..

Why short??



Sonic

Indeed, we gotta trade what we see.. not to anticipate much,..

When the shorts set up appears, it will be screaming out from your charts..

Monthly/Weekly is so strong up..

Sonic

Euro Comment:

First chink in the armor.....

GU Comment:

I agree with how much the market is manipulated on Wall Street, but I strongly disagree with your assessment that it is a bad place to trade because of it. In my experience, it has been quite the opposite for the very reason you pointed out. I know, this isn't the place for such discussions, so I won't elaborate, but I do love me some stock market! lol

I took a short entry on EU as well. In 20 minutes, there will be a 4h PB that respects the trendline that I drew a few weeks ago that dates back to November. On the monthly chart, this area has provided resistance before as well. Add to that we just passed the 50% fibo from the May '11 - July '12 sell off without a retest, I'm pretty confident in this entry.

This is the entry I have been waiting for. I seem to have difficulty with patience. Something I will need to have better control over in the future, no doubt.

Edit- it just occurred to me that I entered a trade shortly before the NFP... prolly a bad idea. Maybe that'll be the "reason" that price goes down. I can hope, right? XD

Hi all, just want to share my viewed for EURJPY pairs.

http://www.forexfactory.com/showthread.php?t=245149

Sir TAH,,

Sonic

GU Comment: