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Sonic R. System

  • #62,561
  • Nov 24, 2013 2:18am Nov 24, 2013 2:18am
Quoting sonicdeejay
{quote} Bullish.. But .. I am seeing signs... Will like to see more price actions take shape. Until then.. Sonic {image}
i'm seeing sign possibility EJ down by channel resistance

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  • #62,562
  • Edited 6:42am Nov 24, 2013 5:57am | Edited 6:42am
Quoting SaiLyfee
Ah thanks, so given this: {image} 1:100 leverage should be used? Correct me if I'm wrong
What Size Trade and What Leverage Should I Begin With?


A huge problem, as I see it, is that "formulas" don't work until you've lost some money,.....enough money to gather the gumption to have some friggin' discipline!

Therefore, until any trader has been trading live, lost, lived to tell the tale, and is now ready to be honest with themselves about their own failings (which they won't have a clue to until they've been trading for some time), I do not suggest using "formulas". What I do suggest is this.

Use minimal leverage, yes.....minimal! Then trade one micro-lot trades,yes.....one micro-lot trades. You heard that correctly. See if, after three months, you are ahead or behind. Progress in size from there......gradually.....allowing another session of some months at a slightly larger size trade and see where you are at the end of six months. All assuming you are gaining, not losing. If you are losing, you will be damn glad you traded small and still have funds to recover with. And remember, the number of micro-lot trades you can have running at any one time depends on the size of the account. Always, always, have very, very few trades going that are very, very small relative to account size,........ALWAYS!

The true tale of forex is the tale of the tortoise and the hare. All other grand profit tales of the forex market are tall tales indeed, and are tales that will not hold water over time for practically all traders. Unless you are rich to start with, do not expect to be rich after two years of trading the forex market. Even then, you might not be quite so rich. A forex trader has to live with the beast long enough to learn everything important about the beast. That can only come from live trading. A forex trader has to trade long enough to learn everything important about their own failings as a trader. That can only come from live trading. Then, and only then, can the forex trader set out to beat the beast in combat. That can only come if you have survived that live training.

Trade very, very light relative to account size.

If you do not heed this advice from experiences gained, then good luck to you until you have gained the same experiences.

-tah
  • #62,563
  • Nov 24, 2013 8:23am Nov 24, 2013 8:23am
Quoting jasakreatif
{quote} i'm seeing sign possibility EJ down by channel resistance {image}
Of Couse it is down, we have bullish engulfing, so 40% of retracement from last candle before carrying on the move!
There is no spoon....
  • #62,564
  • Nov 24, 2013 9:03am Nov 24, 2013 9:03am
Quoting Msis125125
{quote} Of Couse it is down, we have bullish engulfing, so 40% of retracement from last candle before carrying on the move!

I respectfully submit that anyone who claims to see "down" on this one is engaging in pure guesswork based only on the fact that it has been "up" for quite some time.

As Master Sonicdeejay says, "Let the Dragon and PA show the way."
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  • #62,565
  • Nov 24, 2013 9:38am Nov 24, 2013 9:38am
EJ - I see only weakness in the background, no signs of strength, so I don't see any reason for further up trend.
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Definitely not a healthy trend.
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Whatever is obvious is obviously wrong!"
  • #62,566
  • Nov 24, 2013 9:46am Nov 24, 2013 9:46am
Quoting traderathome
{quote} I respectfully submit that anyone who claims to see "down" on this one is engaging in pure guesswork based only on the fact that it has been "up" for quite some time. As Master Sonicdeejay says, "Let the Dragon and PA show the way." {image}
About time somebody spoke some sense into all these catching of flying and falling knives in the name of scout entries with no stop loss!!!
  • #62,567
  • Nov 24, 2013 9:50am Nov 24, 2013 9:50am
Quoting sonicdeejay
EUR/JPY WK 48. Weekly Candle: Bullish Engulfing Bias: Long (Medium) Sonic {image}
This is not bullish engulfing.
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Whatever is obvious is obviously wrong!"
  • #62,568
  • Nov 24, 2013 9:53am Nov 24, 2013 9:53am
Quoting loeil
EJ - I see only weakness in the background, no signs of strength, so I don't see any reason for further up trend. {image} Definitely not a healthy trend. {image}
really loeil! Wonderful and inspirin trader you are! But how many times have we seen unhealthy looking trends with weakness in the background nevertheless defy all reason and keep on goin and goin, frustratin all those jumpin in front of the moving train??? Sometimes it just becomes a matter of ego trying to catch absolute tops and bottoms. Better to always let the dragon show the way!
  • #62,569
  • Nov 24, 2013 12:11pm Nov 24, 2013 12:11pm
Quoting LITEchild
{quote} really loeil! Wonderful and inspirin trader you are! But how many times have we seen unhealthy looking trends with weakness in the background nevertheless defy all reason and keep on goin and goin, frustratin all those jumpin in front of the moving train??? Sometimes it just becomes a matter of ego trying to catch absolute tops and bottoms. Better to always let the dragon show the way!
Yes of course you can wait dragon to show the way. Traders are different, methods are different etc..
Whatever is obvious is obviously wrong!"
  • #62,570
  • Nov 24, 2013 2:35pm Nov 24, 2013 2:35pm
Quoting traderathome
GU Short Trade: Entered short #1, Classic, based on higher volume on spike up bar that closed bearish. It is the LS, the Dragon is angling down and PA is below Dragon, but both are still above the Trend, so more risk here.{image} Edit: Added short #2, Scout, based on MMs pushing up price again on notable volume, on what I consider to be a qualified short setup. Set TP/SL, added updated chart.{image} Edit: Added short #3, Scout, for same reason as Scout #2. Adjusted TP/SL and added updated chart.{image}
GU Short Trade: Stopped out for 900 pips loss.
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  • #62,571
  • Nov 24, 2013 2:36pm Nov 24, 2013 2:36pm
Hello traders
This is my first post here
You are doing a very good job
I study almost all the sonic threads and i admit that was very helpful to me
Thanks a lot
See image and please try not to laugh until future prove that i am wrong . (And most probably i will be wrong so do not trade according to this)

Happy trading

micm147
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  • #62,572
  • Nov 24, 2013 2:54pm Nov 24, 2013 2:54pm
Quoting Micm147
Hello traders This is my first post here You are doing a very good job I study almost all the sonic threads and i admit that was very helpful to me Thanks a lot See image and please try not to laugh until future prove that i am wrong . (And most probably i will be wrong so do not trade according to this) Happy trading micm147 {image}
I like that future wave prediction.
I hope you also read 5 steps pdf and presentation by sonic.

If i am claiming something then i should stay on it, losing before you actually lose is a bigger loss. Or maybe we keep silent unless we have strong justification to prove the claim.
Holy Grail - Patience and Acceptance
  • #62,573
  • Nov 24, 2013 3:59pm Nov 24, 2013 3:59pm
AU Long Trade Opened:

Entry #1 is a Classic, but before the LS. The basis for the trade at this time is the PA waveform with good volume at the right places, the Dragon starting to angle up with the Trend starting to flatten out (these could indicate too soon to trade), and the long run down that this has had,...that it would not be unreasonable if the MMs decided on starting a run retrace from this area. I would not be surprised to see later MMs (LS) drop the price to previous lows and load longs. If that happens, I too plan to add, if at that time this still seems worthy of a bullish outlook.
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  • #62,574
  • Edited 6:29pm Nov 24, 2013 5:47pm | Edited 6:29pm
Quoting traderathome
{quote} What Size Trade and What Leverage Should I Begin With? A huge problem, as I see it, is that "formulas" don't work until you've lost some money,.....enough money to gather the gumption to have some friggin' discipline! Therefore, until any trader has been trading live, lost, lived to tell the tale, and is now ready to be honest with themselves about their own failings (which they won't have a clue to until they've been trading for some time), I do not suggest using "formulas". What I do suggest is this. Use minimal leverage, yes.....minimal!...

Thanks tah, means alot to be able to get that sort of advice from somebody who like you has already had the battle with the beast and is talking from years of experience
Like you say, slow and steady wins the race..
That being said, what you said about microlots, I assume you mean 0.01, 0.02, 0.03 etc..?
I'm looking for a broker to set up an account with $1k, but being a first time trader in going live, I don't have the know how on what the best leverage for this is.
You say minimal, what would that consist of?
Are there particular brokers recommended for such micro-account types?
I ask here as this really does seem to be a great place for learning, sharing, and growing, and after studying this thread and reading through the pages I'm coming to terms with what trading truly is all about, appreciate the words of wisdom and any more advice you could give
Much thanks!

  • #62,575
  • Nov 24, 2013 6:23pm Nov 24, 2013 6:23pm
Quoting SaiLyfee
{quote} Thanks tah, means alot to be able to get that sort of advice from somebody who like you has already had the battle with the beast and is talking from years of experience Like you say, slow and steady wins the race.. That being said, what you said about microlots, I assume you mean 0.10, 0.20, 0.30 etc..? I'm looking for a broker to set up an account with $1k, but being a first time trader in going live, I don't have the know how on what the best leverage for this is. You say minimal, what would that consist of? Are there particular...

Yes, that is what I mean by micro-lots,...0.01 thru 0.09. Trade with 0.01 to start, each pip being worth $0.10 more or less, depending on the pair. In USofA we retail traders are limited to a maximum margin of 50:1. I did not appreciate that restriction when it became law, but now I do. Get even lower margin if you can. The more of your own money you use the more carefully you will trade.
  • #62,576
  • Nov 24, 2013 6:25pm Nov 24, 2013 6:25pm
comments please?
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  • #62,577
  • Nov 24, 2013 6:39pm Nov 24, 2013 6:39pm
Quoting traderathome
{quote} Yes, that is what I mean by micro-lots,...0.01 thru 0.09. Trade with 0.01 to start, each pip being worth $0.10 more or less, depending on the pair. In USofA we retail traders are limited to a maximum margin of 50:1. I did not appreciate that restriction when it became law, but now I do. Get even lower margin if you can. The more of your own money you use the more carefully you will trade.
Thanks so much tah!
That helps clear alot up for me, I wasn't aware of that restriction of leverage over in the U.S but I can see how what you say about being more careful would ring true.
I'll be sure to put all of what you've said into practice, thanks again
  • #62,578
  • Nov 24, 2013 6:41pm Nov 24, 2013 6:41pm
Entered EG short on an early classic.
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  • #62,579
  • Nov 24, 2013 7:31pm Nov 24, 2013 7:31pm
Quoting sonicdeejay
EUR/JPY WK 48. Weekly Candle: Bullish Engulfing Bias: Long (Medium) Sonic {image}
Congrat to those who long..


Sonic

P.s. tons of news start from wednesday to friday.. the movents on this later week will define the w1 candle..
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  • #62,580
  • Nov 24, 2013 7:40pm Nov 24, 2013 7:40pm
Quoting sonicdeejay
{quote} Congrat to those who long.. Sonic P.s. tons of news start from wednesday to friday.. the movents on this later week will define the w1 candle.. {image}
whats your SL and TP?
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