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Sonic R. System

  • #59,561
  • Sep 20, 2013 3:50am Sep 20, 2013 3:50am
@ Forexswag thanks.

@ Capt. Islander, thanks for the explanation.

@ Loeil - refer below chart with ur entry point marking, correct me if i m wrong...
2nd arrow entry long , red indecision candle before hand and 1m candle pierced through 5m dragon with 1m dragon angle up, thus the entry long.
3rd arrow entry long, red hanging man, candle above 5m dragon, 1m dragon angle up and green WRB spotted, thus entry long.
As for 1st arrow entry short, i m not quite sure.

Care to enlighten me thanks..

http://www.forexfactory.com/attachme...5&d=1379661062
Quoting Islander
{quote} No problem with your entry, but just after FO so look out for a fake-out. The 06:03 gmt candle was a red hammer with the highest tick volume for the past hour, so an alert - if using a hard SL consider moving to just behind (above) the 1 min dragon. After an "alert" candle - look hard at the PA. Here, the **25 level acted as support. Remember when all of the short term Dragons are flat, there is no short term trend, so price may go either way..... PS My exit was just under the Yesterday's close / todays open line - again S&R + Volume PSS...
  • #59,562
  • Sep 20, 2013 3:55am Sep 20, 2013 3:55am
  •  St3ve
  • | Joined Jan 2013 | Status: Recovering from losses ... | 77 Posts
Trading the Three Dragons isn't as easy as it seems, when you look at Islanders charts.
It's not only waiting for the 3 dragons to move in the same direction and enter when PA is above / below them. There is so much more you have to consider before entering a trade.

I decided to give this method a serious try, therefore started to read every single one of Islander's posts. Furthermore, I take a screenshot of every trade I've done - regardless of being a winner or loser trade. Printing them out and making a few notes on the charts should help a lot!
I do not expect to trade this profitably before the end of the year, but even if it takes me a full year and more - hopping in and out of trades in a matter of a few minutes / hours allows me to sleep way better :-)
  • #59,563
  • Sep 20, 2013 4:00am Sep 20, 2013 4:00am
A trade i should have taken
Also the 200 ema is on top clearly stating you should be taking a bearish approach... I'm beta testing this method but its been working really well...
The 200 Ema is a must with the dragons!
Moving your stop loss to BE in trades is a must! No risk equals no money...

You can also check the 89 ema bounce in 5min chart but also look for your SR Zones before entering trade!
Don't be greedy... Post a sticky on your computer so it reminds you of this!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd-chf 15min dragon learning.PNG Size: 77 KB
Click to Enlarge Name: keep-calm-don-t-be-greedy.png Size: 37 KB
Creditors have better memories than debtors.
  • #59,564
  • Sep 20, 2013 4:01am Sep 20, 2013 4:01am
Quoting DmitryFX
I am doing something wrong..... {image}
DmitryFX,

look why I think your entries were wrong.

This is how I look 3 dragons method.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.armm1.png Size: 27 KB
Whatever is obvious is obviously wrong!"
  • #59,565
  • Sep 20, 2013 4:27am Sep 20, 2013 4:27am
Quoting wilo808
@ Forexswag thanks. @ Capt. Islander, thanks for the explanation. @ Loeil - refer below chart with ur entry point marking, correct me if i m wrong... 2nd arrow entry long , red indecision candle before hand and 1m candle pierced through 5m dragon with 1m dragon angle up, thus the entry long. 3rd arrow entry long, red hanging man, candle above 5m dragon, 1m dragon angle up and green WRB spotted, thus entry long. As for 1st arrow entry short, i m not quite sure. Care to enlighten me thanks.. http://www.forexfactory.com/attachme...5&d=1379661062...
Ok wilo808,

I drew, what I think and where I would enter and where not.
It's easier to draw than just write the text.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.armm1.png Size: 37 KB
Whatever is obvious is obviously wrong!"
  • #59,566
  • Sep 20, 2013 4:33am Sep 20, 2013 4:33am
Three Dragons

The Pdf file starts with ..."For experienced traders...." so it is NOT easy, BUT with hard work and screen time, it is a valid method of trading - and some here are already showing that they are grasping what they need to do to start making profits.

@ForexSwag - great input with similar ideas

@loeil - nice charts etc

Remember, I've posted many times that my trading day starts with my paper 4 hr charts, then I look at my 15m Multi Charts and finally my 5m Multi Charts.....that is why this morning I decided to buy GbpUsd - put a fibonacci retracement over its drop since yesterday's high and then do the same with EurUsd.....

So a pre FO buy that took ages to finally get to its DP - and that's below its 38% retrace! - I'd already banked.

Then wait for the UK PSNB Data and after that there was a Sell Signal for 1 unit and I booked 20 and that's me finished for this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: sep20 gbp 1m 0915.png Size: 40 KB
Trading Levels with WRBs
  • #59,567
  • Sep 20, 2013 4:34am Sep 20, 2013 4:34am
For those guys who trade by 3 dragons and M1. Be aware of supply and demand. It's important to understand, where the buyers/sellers come in. Because M1 moves so fast, if price get in a jam, look the volume and support/resistance.

Just my opinion, followed by Pete Faders

I really like 3 dragons method, it takes less time, less nerves and profit comes faster. I rather raise my lot size, take 10-20 pips and close my computer and be happy all the day than wait 2 months, get lost lot of nerves and bite my nails
Whatever is obvious is obviously wrong!"
  • #59,568
  • Sep 20, 2013 4:44am Sep 20, 2013 4:44am
AUD/USD trade SL survived by just 1 pip
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm1.png Size: 52 KB
  • #59,569
  • Sep 20, 2013 4:48am Sep 20, 2013 4:48am
Quoting loeil
For those guys who trade by 3 dragons and M1. Be aware of supply and demand. It's important to understand, where the buyers/sellers come in. Because M1 moves so fast, if price get in a jam, look the volume and support/resistance. Just my opinion, followed by Pete Faders I really like 3 dragons method, it takes less time, less nerves and profit comes faster. I rather raise my lot size, take 10-20 pips and close my computer and be happy all the day than wait 2 months, get lost lot of nerves and bite my nails
And Don't forget put SL around 35pips(5 digits) + spread.
Maybe, Avoiding trading with the news are coming, if dragon is flat in that time, Just IMO.
Keep learning until you die :-)
  • #59,570
  • Sep 20, 2013 4:54am Sep 20, 2013 4:54am
Quoting loeil
{quote} Ok wilo808, I drew, what I think and where I would enter and where not. It's easier to draw than just write the text. {image}
Thanks for the explanation Loeil

Quoting loeil
For those guys who trade by 3 dragons and M1. Be aware of supply and demand. It's important to understand, where the buyers/sellers come in. Because M1 moves so fast, if price get in a jam, look the volume and support/resistance. Just my opinion, followed by Pete Faders I really like 3 dragons method, it takes less time, less nerves and profit comes faster. I rather raise my lot size, take 10-20 pips and close my computer and be happy all the day than wait 2 months, get lost lot of nerves and bite my nails
Totally Agree
  • #59,571
  • Sep 20, 2013 4:57am Sep 20, 2013 4:57am
Quoting loeil
{quote} DmitryFX, look why I think your entries were wrong. This is how I look 3 dragons method. {image}
My spread is 3 pips so it's looks like trades were late, but they didn't.
Thank you for advices!
Everything is possible!!! Step by Step...
  • #59,572
  • Sep 20, 2013 5:00am Sep 20, 2013 5:00am
I start new acount for testing with my vision PVSRA
EURCAD add first long.

MM active below half and whole numer.
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-09-20_115539m15.jpg Size: 153 KB
  • #59,573
  • Sep 20, 2013 5:00am Sep 20, 2013 5:00am
Loeil, what are those Red and yellow lines for? Moving average? My chart shows only one 89EMA.
  • #59,574
  • Sep 20, 2013 5:09am Sep 20, 2013 5:09am
Quoting Islander
Then wait for the UK PSNB Data and after that there was a Sell Signal for 1 unit and I booked 20 and that's me finished for this morning. {image}
Hi Islander. Thank you for your postings, word docs, screenshots etc; very informative. In relation to your most recent GU trade, would you mind telling me where, if anywhere did you link volume/ pa in with your decision to sell? Does the increased volume up to & around the DP (as seen more clearly on the 5m) help your decision making here? Cheers.
  • #59,575
  • Sep 20, 2013 5:27am Sep 20, 2013 5:27am
Quoting worldfreedom
AU entry short 1min looking for 50 pips. {image} {image}
I have closed my AU as it was just not moving. I booked 25 pips! Looking for more entries.

I am still holding the GU short and GJ short. I closed EP 5-7 on my GJ for a loss but will look to add once the move down happens.
  • #59,576
  • Sep 20, 2013 5:50am Sep 20, 2013 5:50am
Quoting Islander
Three Dragons The Pdf file starts with ..."For experienced traders...." so it is NOT easy, BUT with hard work and screen time, it is a valid method of trading - and some here are already showing that they are grasping what they need to do to start making profits. @ForexSwag - great input with similar ideas @loeil - nice charts etc Remember, I've posted many times that my trading day starts with my paper 4 hr charts, then I look at my 15m Multi Charts and finally my 5m Multi Charts.....that is why this morning I decided to buy GbpUsd...
Captain,

The whole 3 Dragons approach is a most excellent and compelling piece of work. Certainly for the non-greedy scalper. Does the pdf contain the updated/correct EMA settings for respective TFs. I seem to recall these being experimented with in it's early evolution. Once again, thanks PP.
  • #59,577
  • Sep 20, 2013 6:02am Sep 20, 2013 6:02am
Quoting Sober_Colm
{quote} Hi Islander. Thank you for your postings, word docs, screenshots etc; very informative. In relation to your most recent GU trade, would you mind telling me where, if anywhere did you link volume/ pa in with your decision to sell? Does the increased volume up to & around the DP (as seen more clearly on the 5m) help your decision making here? Cheers.

Hi - only in that the higher volumes had already told us that GbpUsd was being sold ~the DP, so sellers gaining control - confirmed by the fact that it did not even get to its 38% retrace. As Tom Williams frequently tells us - look for an increase in volume "in the background" - viz: in the past in relation to the news time.

Also, there were two high volumed 1m candles around the news time that were both small spinning tops - indecision at that time - but NOT showing buyers gaining control, but being held by sellers....
Trading Levels with WRBs
  • #59,578
  • Sep 20, 2013 6:07am Sep 20, 2013 6:07am
Quoting figgsey
{quote} Captain, The whole 3 Dragons approach is a most excellent and compelling piece of work. Certainly for the non-greedy scalper. Does the pdf contain the updated/correct EMA settings for respective TFs. I seem to recall these being experimented with in it's early evolution. Once again, thanks PP.
Hey, buddy! You don't satisfied with my PM?
Everything is possible!!! Step by Step...
  • #59,579
  • Sep 20, 2013 6:08am Sep 20, 2013 6:08am
Quoting figgsey
{quote} Captain, The whole 3 Dragons approach is a most excellent and compelling piece of work. Certainly for the non-greedy scalper. Does the pdf contain the updated/correct EMA settings for respective TFs. I seem to recall these being experimented with in it's early evolution. Once again, thanks PP.
I have not yet made any changes to either of the Pdfs - and I'm waiting for someone who is willing to show some origionality by updating the Pdf that contains my posts - I think I already share sufficent here without doing all of the basic cut and paste stuff too!

That will of course make it easier to see when I decided to "speed up" the 5m Dragon on my 1m chart
Trading Levels with WRBs
  • #59,580
  • Sep 20, 2013 6:13am Sep 20, 2013 6:13am
Quoting Islander
{quote}....but NOT showing buyers gaining control, but being held by sellers....
Super, thanks for that.
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