Sonic R. System

Short ! de Yuro , Tp last low

FXRobert, Thanks....

You were correct. But too many years looking at these charts; sometimes good and sometimes bad! this time good, just my style for quick profits but usually leave a lot on the table unlike most here.

consider hot pink demand area , not very looking good bottoming anyway , but looking safe for scout long

Yes, since back on the 15M per my previous post.

EU
Added long scouts 3,4,5 and 6.

NY session MM's, come and give me profit!

JRissa, are you watching UC today? If so your take?

USDCAD yes
USDCHF no... waiting it to get near 0.8830

Yes USD/CHF sorry. Thanks

EU
Added one more scout long #7

SL and TP in place. It goes how it goes

Closed USD/CHF quick scalp long bounce from pivot 5 lots +5, stalled at RN. (entry depicted on chart is previous trade forgot to remove. oops!)

Food for thought:

The nature of Scout trades means that they are only meaningful when contrasted with Classic trades.

So how should we define Scout trades in general?

Firstly I think they cannot be presenting the same probabilities of success as the Classic trades in your system/method. In other words, the edge on the scout trades must be smaller than classic trades by definition. If they are larger or equal, then you actually have two different classic trades in your system.

Secondly, they should be complementary to the classic trades. It is no secret that we get a better awareness (might be a false sensing) of the market movements and are more attached to the market when we have a position. A scout trade can help to achieve that. Furthermore, most traders subscribe to the belief that market moves tend to persist. Price takes the path of least resistance; an object in motion stays in motion until an opposing force acts upon it. Hence, having a scout trade can give traders further confidence to add a larger sized classic trade when the opportunity arises.

But now, we need to be careful.

There's a need to control the risk to capital for Scout trades such that it is less than that of Classic trades, because by definition, scout trades are less profitable. If such risk control cannot be achieved then the trader is better off not having scout trades in the system.

agree/disagree? thoughts?

EU/EG Short Closed profit 130 pips both

Congrats!

USDCAD

Manually closed rest positions for average 10.3pips profit.

USDCHF scalps have been good to me this AM as previously discussed. You might not see 0.8830 for a while? I've sure been wrong before.....

love it..


Sonic

Appears MM's are setting up for a move? we will see......which way!

I'll take my shot and try short!

SL 30pips, TP 70pips.