look @ 4HR chart it looked like reversal pattern in high volumes I will stay short in GJ
Attached Image (click to enlarge)
Okey, Let's Talk Money Let's say I averaged 200 pips weekly before PVSRA. In six weeks that amounts to 1,200 pips. In the first six weeks of PVSRA I made 13,560 pips. Let's subtract my previous average of 1,200 pips and the PVSRA bonus is 12,360 pips! Let's also subtract my GJ and UJ trades, down 3,995 pips and 684 pips respectively at the close Friday. Subtracting these 4,679 pips as though I had closed the two YEN pair trades, from the PVSRA bonus of 12,360 pips these past six weeks, I would still be left with a bonus of 7681 pips for the six...
All I've been trying to point out is that you haven't been blindly trading.
You know what your account can handle and how much you are willing to
risk in the process. And the trades haven't been entered into without a lot
of thought. Granted, TAH's YEN trades are more extreme than usual, but
they are still in accordance with his personal risk tolerance.
Risk is relevant only in relationship to each individual's account and tolerance.
And your personal risk has certainly been worth the reward!
- #48,665
- May 11, 2013 11:13am May 11, 2013 11:13am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
http://www.forexfactory.com/attachme...1&d=1368269447
Using the above chart and entries as given, how would I have traded for a total risk of $1,500?
SO the first entry is allowed a risk of $500 from its entry (inc spread) at say 98.78 to its 36 pip SL at say 98.42 = 36 pips which equals 14 mini lots. The second entry at EP 2 say 98.95 has a wider SL of say 53 pips and so will be for 9 min lots. The third entry will be at 99.70, also for 9 mini lots as it has a similar SL to EP 2. Note that I am ignoring the accrued profits from the first two positions.
My new SL at Friday's close is moved to 101.30, thereby protecting EP 1's 252 pips ($3528), EP 2's 235 pips ($2115) and EP 3's 160 pips ($1440) a total of $7,083. Now as it is a G7 weekend, I personally would have closed one position, the first, somewhere near that spike up to the 102 level, just in case of a gap down open.......of course, we might get a gap-up open, but I'd rather play safe.
Food for thought and I wish everyone a pleasent weekend. Now its time for a swim and a SunDowner
Using the above chart and entries as given, how would I have traded for a total risk of $1,500?
SO the first entry is allowed a risk of $500 from its entry (inc spread) at say 98.78 to its 36 pip SL at say 98.42 = 36 pips which equals 14 mini lots. The second entry at EP 2 say 98.95 has a wider SL of say 53 pips and so will be for 9 min lots. The third entry will be at 99.70, also for 9 mini lots as it has a similar SL to EP 2. Note that I am ignoring the accrued profits from the first two positions.
My new SL at Friday's close is moved to 101.30, thereby protecting EP 1's 252 pips ($3528), EP 2's 235 pips ($2115) and EP 3's 160 pips ($1440) a total of $7,083. Now as it is a G7 weekend, I personally would have closed one position, the first, somewhere near that spike up to the 102 level, just in case of a gap down open.......of course, we might get a gap-up open, but I'd rather play safe.
Food for thought and I wish everyone a pleasent weekend. Now its time for a swim and a SunDowner
Trading Levels with WRBs
{quote} Thanks for clearing that up Fex, much appreciated. Its still 1st week testing this system as I am looking for a second system. Any feedback appreciated. So you mean for shorts the dragon should be below Moving average and for long should be above? Still going through the thread but damn its long. {image}
Your best bet is to re-read all the info in post #1. Read it several times, and it never hurts to go back to it
from time to time to refresh the memory.
You can also utilize the search feature to focus in on particular topics that might be interesting you on any
given day.
But definitely hit post #1 again (in addition to the links provided therein). You have to get a handle on the
basic Sonic R rules before branching out too far.
Pretty soon you may just find THIS becomes your main system of trading, instead of a secondary system.
- #48,670
- Edited 5:38pm May 11, 2013 4:24pm | Edited 5:38pm
{quote} Thanks for clearing that up Fex, much appreciated. Its still 1st week testing this system as I am looking for a second system. Any feedback appreciated. So you mean for shorts the dragon should be below Moving average and for long should be above? Still going through the thread but damn its long. {image}
For this graph (Pic2) I guess I had entered any of the points marked in orange, even though the dragon still is above the trend, it does have a good angle. Let me tell you that:
1. - What I just explained is very basic and is perfectly explained in Post # 1 (including their links). If you think that post # 1 is too boring or long, believe me if you read the post # 1 get save long long time and have fun learning. (not cynicism, is advice nobody asked)
2. - Pay little heed of what I say, I'm just a newbie trying to learn something. It's not false modesty, it is true. But the first two days I read carefully and repeatedly post # 1, which allowed me to learn the basic theory, the practice else
. Listen and you'll know, Watch and you'll understand, Do it and you will realize. (sorry the literal translation).Note:
Listen: Post # 1
Look: First and last 50 pages of the thread.
Do: Let's f__k the MMs
good trades
Newbie trader
- #48,676
- May 11, 2013 9:29pm May 11, 2013 9:29pm
Just shared my experienced with Sonic R System:
Sonic R system is simple system and very profitable , but have weakness when sideway market.
Here is a picture of my success using Sonic R System last month.
Later on this month I failed because the market is so wild (sideway)
PS: all suggestions and criticism are welcome
Learn from my failures in this month, I tried to combine the experience and the profit system, and the result is as shown below
Sonic R system is simple system and very profitable , but have weakness when sideway market.
Here is a picture of my success using Sonic R System last month.
Later on this month I failed because the market is so wild (sideway)
PS: all suggestions and criticism are welcome
Learn from my failures in this month, I tried to combine the experience and the profit system, and the result is as shown below
- #48,677
- May 11, 2013 10:28pm May 11, 2013 10:28pm
- Joined Nov 2008 | Status: Trader | 50,193 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
- #48,678
- May 11, 2013 10:55pm May 11, 2013 10:55pm
- Joined Nov 2008 | Status: Trader | 50,193 Posts
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
