DislikedFinally MM got me, after so long time ... I am not confident anymore with the direction A lesson to learn about scout and MM, nearly 2,5 % of account. Scout is dangerous, scout can destroy your account or the profit you ve done so far. You will never know when / how / how long MM keep manipulating price. Often is it just a question of supply & demand and not manipulation but who knows ... This will be added to: "Forex losses teach a trader - not the Forex profits" notice book in Evernote ... Nevertheless SonicR really becomes one of my favourite...Ignored
forexTN14.
You were not the only one, as you see in the two preceding posts! In spite of my losses on AU and AJ, I did manage to be profitable this week with over 600 pips so far (all posted here), but you can see that the profit could have been much more. This week is not being not fun.
Yes, depending on just how Scouts are used, they can be very risky. Of course, and as has been stated often here, a Scout entry can well precede a Classic setup,.....under very certain conditions. And Scouts can be used to build a trade that is running green. The big danger comes from using Scouts when a trade is running in the red. This is very dangerous! A keen eye for the interaction of PA, volume and S&R is critical (PVSRA). And even then, regardless of our experience and what we currently conclude, the MMs can get the best of us when we are doing this!
The Sonic R. System as prescribed is sound. It is more. It is elegantly simple and effective. And when we traders begin to push the envelope, setting aside the prescription for this system, we expose ourselves to disaster.
-tah