Sonic R. System

For the avoidance of doubt rather than Master can we call Islander something else, Captain or Admiral or something?

I like the idea of watching for a big volume bar at key levels like on UJ just now. Would have been a perfect exit and netted an extra 30 odd pips.

EJ is so interesting now ... Maybe, EJ is in bullish strongly.

Ahoy captain.. Will be nice

Sonic

OK / look NOW at your 1m € chart - I just closed out a long at 1.3560 as the 14:23 gmt candle was a high volumed green marubozo to hit the earlier high from 10:30 this morning.


Look at UJ.....IF I had been long into the Home Sales Data (I was not trading it - distracted!) - the 14:00 gmt candle was a WRB, a semi marubozo on high volume and it went through a S&R level (99.55) to hit the Dragon +35 pips outer band - so Bank those pips.

On most of my posts I explain something similar OR if pre LO I'll just look for 10 - 20pips as posted many times.....

Hello students of Forex! I have read a great deal of sorrow over the recent fallout over PVSRA and while I am uncertain about which direction this thread is going, I would like to share a moment of my experience.

THINKING ABOUT THE TRADE. The most important part of trading is of course, YOU. Period. SONIC-R has some specific ideas to keep you in the black and away from risky ventures, but these are interpreted by each of us and eventually fall to our own bias and practices. My personal approach is moderate-aggressive, not because I am careless or arrogant or greedy, but because I believe the system can stand it. I rely on my own judgement and analysis, which is clearly as fallible as the next person.

I have done very well with Sonic following the rules. I have sustained losses ignoring them. I have made more money using PVSRA to give me insight to what other traders are doing at those all important S/R levels. All these affect how I think about the trade opportunities before me and give me some bias as to whether the trade is a great opportunity or a seriously bad idea!

Recently, I decided to place stop orders on the losing side of my SONIC orders, not so I would be right either way, but in case the SONIC setup bailed and price gained momentum the other way. I am on the fence over it's viability, but I have not been hurt yet and it has saved me several times already.
Last week I took a hit on a volume spike early Friday morning. Even though the spike pulled back, my gut said it was the direction of the market, so I put the order back on. Price went up, I banked enough to cover my loss and called it a day. I COULD have taken more loss....but that is trading.

This Sunday started lukewarm. As always I look for SONIC. Yes, I know moves with less than 50 pip SL is breaking the rules. I can tell you I have missed many good trades because I shied away from these smaller setups. Also I have taken hits on ones I have tried. I can also say 70-90 pip SL can also get hit and I have lost money there too. If the market has taught you all anything, it is that UNPREDICTABILITY is lifeblood to a trader. Nothing is stone, and what worked 100 times can fail 200.

The blue boxes on my chart are where I take interest in PVSRA. I mean if a SONIC setup is imminent, even as lame as this example, I like to know if anything is cooking. See how price just drifted lazily down through the dragon with no real pullback? This makes me think NO TRADERS. Once price stalls at the 25 level, I find myself with a decent swing, so maybe things get interesting.

Price broke up through the dragon rather qucikly and decisively. I love it when it cuts the trendline in the same move. Even better, it is a classic setup. I don't even wait for the pullback, I set it for 1.3360 with the SL outside the last swing low, then I tag on the stop order, in case it goes wrong. The order is there in case price falls, not for if my SONIC trade is executed and stopped out. Arguably, I could get burnt with a good whiplash.
So the trade executed...but it fizzled. In no time at all I was looking at -20 pips and a new SONIC setup...the other way. Again, for those of you who follow SONIC advice to keep SL at 50+ pips...forgive my sacrilege. I chose to ignore this new setup becasue of the lack of any serious bearish activity so far. Time is a factor in trading, so when price jumps 25 pips and falls back roughly the same time...it's nap time.
I shrugged this one off as a 'surprise me' and began ratcheting my thoughts to the next trade. That's how it is.

Imagine my pleasure when I awoke to see the effects of one man's words...apparently. Regardless, the market went gangbusters. Now I believe I mentioned before that I am aggressive and I believe in SONIC-R because of experience. So while many of you may be conservative in your MM, I can handle DD in 10-15% increments. Yes it takes better trading to recover, but the gains are also very rewarding. This trade gave me 50% of my account, so I am done for the week. On a 37 pip SL I banked 183. No way is this typical, but a plus is a plus and better than minus, right?

This trade was not a good SONIC setup, but it satisfied my thinking. It appealed to me. Even so, it didn't work out as I thought, but the news gave me a freebie. I do not think I am genius or awesome. It is just a gift we sometimes get in trading.

The best indicator in your arsenal is your mind.


http://i40.tinypic.com/2u7vfpx.jpg

PVRSA is an excellent confirmer, I only trade it when the price is going my way. I started using it this week, so far, there's just one loosing trade. This is a statement from my live account. Trade based on the direction on a big time frame, entry scalp on a smaller time frame. Small draw down and you sleep better at night.

+ 11.4 pips going long on NZD/USD

By the way, thanks for coding PVRSA on Jforex whoever did it.

Captain will work - and BTW - another nice trade in EJ that caught the FOMC beautifully

Islander Captain,

Haha would you have re-enter the UJ and/or EJ here?

All conditions seems good.

Ok, Captain!

No - not the re-entries as there has already been a big run up and its now getting towards the European and then UK closes - I've already finished my trading for today. That's why your getting quick replies!

Thanks!

Learning along the way

Correction: all the people who are trading too heavily got blown out. The rest of us took a small loss when viewed in the large run and will recoup our losses quickly!

Edit: We should avoid the temptation to claim that we saw the FOMC move coming by the price action as some here have done.

just shorted base on price action.
Trend turning bias downwards.

I didn't read that..

in fact, thank to FOMC,, my acc grow..greatly..

and I am a Sonicer

Sonic

The problem is not FOMC or whatever. The problem is, as soon as we see that MMs are bears/bulls, we enter the trade. And why we do that? Because we don't know when they gonna run for profit. They can do it right away, next day, next week, next year. Of course we don't want to miss it and that is why we jump to trade. If we can avoid to jump too early, it can be the perfect system.

And like we see, there were many many clues what we ignored and trade against the trend. If we can avoid those mistakes, we can successfully trade by PVSRA. Otherwise not.

And like sonicdeejay said, he's account grow thank to FOMC. So he saw the most important clues what other users didn't.

Peoples like the blood

Or they just traded like us and now they struggling and they hope to get some signals here.

That pic worth 1000 words! I envy you Sir!

Not from me

H.

5 month later....