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Sonic R. System

  • #70,621
  • May 6, 2014 7:21am May 6, 2014 7:21am
Quoting Dyekid217
I said I was done for the day but a classic long on GJ has presented itself with a good R:R As you can see price found a bit of resistance just above MR2 and price was forced back down. Lots of volume following a retest of the trendline. Indication that MM's are bulls in the short term. I have a target of 27 pips at RDH. 15 Pip SL Since studying PVSRA I have been able to refrain from entering the market when a move is close to ending and instead I am able to get in with enough breathing room to hit a target. It pays to be picky and patient! {image}...
I think the price action is quite bearish on GBPJPY M15 chart.
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  • #70,622
  • Edited 8:27am May 6, 2014 7:21am | Edited 8:27am
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IMO, a good example relating to and illustrating your comment. This was a failed classic from Monday and one we were both watching and no entry for me.

Regards,
Cigarguy
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Keep It Simple
  • #70,623
  • May 6, 2014 7:25am May 6, 2014 7:25am
Quoting dvarrin
{quote} I think the price action is quite bearish on GBPJPY M15 chart. {image}
You guys were right! The Mm's whacked me out of the market. I did see a lot of trading going on where I marked but the MM's decided to whipe out the weak longs. I am truly done for the day.

Lesson learned. It's better to preserve capital
  • #70,624
  • Edited 7:45am May 6, 2014 7:27am | Edited 7:45am
Quoting FXRobert
AUDUSD long build with Sl. I now about news AUD today First order clasic M1 after LO. H1 TP. {image} {image}
AUDUSD closed.
I closed, but I think AUDUSD is bull. I wait signal for me re-entry
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  • #70,625
  • May 6, 2014 7:29am May 6, 2014 7:29am
EURAUD Short Trade Opened:

Entered short #1, Classic, as price was retraced up to established SR area.
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  • #70,626
  • May 6, 2014 7:32am May 6, 2014 7:32am
Quoting Dyekid217
{quote} You guys were right! The Mm's whacked me out of the market. I did see a lot of trading going on where I marked but the MM's decided to whipe out the weak longs. I am truly done for the day. Lesson learned. It's better to preserve capital
Dyekid217,

Over trading can also be a account killer and a "no trade can be the best trade". Believe me I am speaking from past experience and just passing it on. It's sometimes easy to get hyped up and a itchy trigger finger

Regards,
Cigarguy
Keep It Simple
  • #70,627
  • May 6, 2014 7:38am May 6, 2014 7:38am
Quoting cigarguy
{quote} Dyekid217, Over trading can also be a account killer and a "no trade can be the best trade". Believe me I am speaking from past experience and just passing it on. It's sometimes easy to get hyped up and a itchy trigger finger Regards, Cigarguy
I fully agree! I am usually good with just taking what the market gives me.. this is one of those bad habits that seemed to creep back.

It's good to learn at a young age though! It's tough to learn this market but I will take the punches and keep it moving.
  • #70,628
  • May 6, 2014 7:44am May 6, 2014 7:44am
Quoting cigarguy
{quote} Dyekid217, Over trading can also be a account killer and a "no trade can be the best trade". Believe me I am speaking from past experience and just passing it on. It's sometimes easy to get hyped up and a itchy trigger finger Regards, Cigarguy
Quoting Dyekid217
{quote} I fully agree! I am usually good with just taking what the market gives me.. this is one of those bad habits that seemed to creep back. It's good to learn at a young age though! It's tough to learn this market but I will take the punches and keep it moving.
The lack of patience to await the proper setup is something that can plague traders who think more of the money they are not making by not being into a trade currently. In the end, though, the anxiety of "not being into a trade" and therefore accepting to trade something less than proper, ends up losing money.

Any one of us can fall victim to this anxiety, especially when the MMs range the prices and we begin to be impatient. There is no solution but to "stick to our guns" and refuse to allow the market to suck us in on less than we consider proper.

-tah
  • #70,629
  • May 6, 2014 7:53am May 6, 2014 7:53am
Quoting traderathome
{quote} {quote} The lack of patience to await the proper setup is something that can plague traders who think more of the money they are not making by not being into a trade currently. In the end, though, the anxiety of "not being into a trade" and therefore accepting to trade something less than proper, ends up losing money. Any one of us can fall victim to this anxiety, especially when the MMs range the prices and we begin to be impatient. There is no solution but to "stick to our guns" and refuse to allow the market to suck us in on less than...
You couldn't have worded it better.

I don't think I can thank everyone in this thread enough for the changes I have made thus far in my trading. I am excited as this is only the beginning
  • #70,630
  • May 6, 2014 8:07am May 6, 2014 8:07am
euraud short trade.
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Dragon the best Indicator
  • #70,631
  • May 6, 2014 8:10am May 6, 2014 8:10am
TAH,

Wow, 114 traders viewing this thread. Is that not some kind of FF record?
Keep It Simple
  • #70,632
  • May 6, 2014 8:16am May 6, 2014 8:16am
Quoting cigarguy
TAH, Wow, 114 traders viewing this thread. Is that not some kind of FF record?
about 1000. I remember.
For free signal ?
  • #70,633
  • May 6, 2014 8:26am May 6, 2014 8:26am
eurjpy strong support & I am waiting
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Dragon the best Indicator
  • #70,634
  • May 6, 2014 8:27am May 6, 2014 8:27am
Quoting FXRobert
{quote} about 1000 I remember for free signal
".....for free signal...."

Yes, that is about the size of it. All the bitching, whining, crying or lying jerks still lurk for their signals.
No slight intended of true blue Sonicers, just of those that the shoe fits.
  • #70,635
  • May 6, 2014 8:39am May 6, 2014 8:39am
Quoting wizz2014
{quote} Update 2: closed the GA (left the EA to run). Still get the sense that there is a strong bear still lurking in the background. Will look for retrace to enter again if possible. {image}
EA closed (2EPs) for some decent pips (It didnt show on my chart, I dont know why).

I will look for rentry as I still get the sense that this pair is bearish. Thx everyone for your guidance
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  • #70,636
  • May 6, 2014 8:43am May 6, 2014 8:43am
Quoting wizz2014
{quote} EA closed (2EPs) for some decent pips (It didnt show on my chart, I dont know why). I will look for rentry as I still get the sense that this pair is bearish. Thx everyone for your guidance {image}
Default setting for closed trade label is 30 pips offset from close price. You have to squish chart to bring label into view. So, why is it you do not know this?
Your are a poor student. You have not done your Post #1 homework!
  • #70,637
  • May 6, 2014 8:51am May 6, 2014 8:51am
EURUSD, IMO a good clue was provided (not a classic but); long wick with high volume on the red candle followed by next small red candle with smaller volume then stopping volume and finally higher volume on green up bar and up she went all taking place under the whole number 1.39000, and of course dragon above the ema headed up!
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Keep It Simple
  • #70,638
  • May 6, 2014 8:52am May 6, 2014 8:52am
Quoting FXRobert
GBPCHF long build. I know first entry clasic, but I see potential up. {image}
GBPCHF closed with profit.
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  • #70,639
  • May 6, 2014 8:57am May 6, 2014 8:57am
Quoting traderathome
{quote} Default setting for closed trade label is 30 pips offset from close price. You have to squish chart to bring label into view. So, why is it you do not know this? Your are a poor student. You have not done your Post #1 homework!
Updated with pips info this time - 2EPs for 132 pips
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  • #70,640
  • May 6, 2014 9:05am May 6, 2014 9:05am
Hi traderathome,

Please check your PM.

Thank you,
Laurentiu
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File Type: xlsx Sonic M_v1.xlsx   17 KB | 588 downloads
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