Sonic R. System

GBP/JPY,

Base on H1, I see decline buy volume in major resistance area. M15 entry before classic, and the second one is the classic setup, TP before RDL line. Pretty nice PA on this so far.

Hi all,

New to FF although I have been researching a lot here over the last 2 months.

A brief introduction. Up until 2 months ago if you had asked me what a 'pip' was my only reply would have been 'something you find inside an apple'. Anyway things have somewhat changed! I had always been interested in the thought of trading but it was not until the beginning of the year that I decided to look more into it (for various reasons I won't bore you with now!).

Through the power of google I found the babypips website and enrolled on the course there. I found it fascinating and I was hooked.

Whilst going through the course and hearing all about these MM's and the power they hold I decided it would be great to try and get inside their heads to see what they were up to.

Through more research I ended up reading a couple of books I got off Amazon which gave a great introduction to Forex in general but also into Volume Analysis. This is it I thought. This is the tool needed to get into these MM's heads.

So I set off and opened a few demo accounts and taught myself how to start to use MT4 and the first thing I did was to add the volume indicator to the charts.

Through the books I also learnt about Forex Factory. Wow that was a find!

Long story short: I found this thread.

I cannot put into words how impressed/amazed/gob smacked I am by the generosity shown in this thread. The experience and the teachings on display are outstanding. So much work.

TaH you are already a legend in my eyes. To have posted nearly 17,500 images with explanations is just unbelievable work. To think you do it all for nothing. It really is difficult to comprehend. You have my upmost respect. You, along with other experienced traders (Sonic, Cigarguy, Leentjai to name but a few), really are changing peoples lives. I don't think that is an overstatement.

I have been through the information on page 1 several times (I have been giving myself an intensive course of 12/18hr days studying info and charts!). Nearly every page on this thread there is something new to learn. I sometimes play page roulette. Pop a number between 1 and 3986 in the page search box and learn something! Give it a go .

Anyway I would like to post my first chart with a few comments on my thought process through the trade:




What interested me initially to this trade was the activity happening around the 183.750 line. I dropped down to the M5 TF to take a closer look and there was volume buying at the highpoints pushing the raised price back down again leaving the top wicks. This continued for sometime as shown by the top pink highlighted area. This indicated to me the MM's were buying up shorts along their favoured round number. So I popped a scout in.

Sure enough a few bars later came the push down. I expected a retrace around the 183.250 and so waited until it rose to the 183.500 range where the price started its dance again whilst the MM's picked up shorts (highlighted lower pink bar). The seemingly inevitable push down of price soon followed.

Yes I could have stayed in the trade longer for the second retrace and next push down (as is happening now) but I knew I was going to be distracted over the next hour or so and I was happy with the gains I had made. So I got out of there!

Any feedback would be great. Through patience and careful trading I hope to be a regular contributor to this thread.

Thanks guys.

First post done!

Pent.

Gold.. has similar trace too..


Lokking Classic..Bullish..






Sonic

be patient wait for classic entry in the LS, thank you pro Traderathome

GBP/JPY,

Close the two position lil bit early than the plan.

I like it whats more I like how to todays trades were all yen pound dollar .... hmmm makes you think.... Just an guess but maybe some more classics show on these pairs a classic especially on yen strength would be tasty.

take profit at RDL

GBPJPY took profit , AUDJPY closed manually. Both classic shorts :


+69 points

EURJPY Scout Long, it might be trend reversal, might be not, living in fear as usual!
NZDUSD Scout Long.
EURUSD Scout Long, it might be trend reversal judging by gold manipulations.
GBPJPY Long Scout, considering GBPUSD run long it would be strategically right!

The template is simply great, true. But the VSA and levels (SR or SD, I prefer SD personnally but I understand the round numbers thing of course), gosh. Man. This thing... Patterns of coloured candles. One can trade only with drawing two lines and observing the combination of coloured candles and what they mean. Green pin followed by weakness at resistance / supply. Just with this very one can make a living. Thank you so much, I have been laughing nervously for the last two days.

USD/CHF,

loss my confidence and Closed all position, after new high..

Wisdom from FB group

Example of How Not to Trade

GBPJPY Short Trade Open/Close:

Closed for gain of 55.3 pips average, 2,767.5 pips total gain,..........and a CRAPPY trade! Why? Read below.

Crappy Trade -

I was not going to post this trade because I do not want to encourage others to trade via Scouts when price is on the wrong side of the Dragon. However, I got to thinking that maybe I should post this trade and use it as an example of what not to do, and why. So here it goes.....

My reason for taking the trade was the trend was overall down on H1 and price had been pulled back up to the Trend, and there was obvious consolidation in that area and which was about a FR 38% retrace in the overall trend move down. Yes, this was obviously an H1 Classic long setup, too! Yet, I chose to be a top picker anticipating this 38% move up was only a retrace in the down trend, and with the retrace being only 38% it could be an indication of how strong the down trend was, and with the consolidation at the "top" of the 38% retrace it further supported the belief this was soon to be headed back down,.......SO WRONG!

As you can see, the MMs continued to run the price higher. I continued to add. Eventually things turned around, but........THIS COULD HAVE MOVED HIGHER AND HIGHER AND HIGHER! The danger here is once in on the wrong side, if the trade is not closed but kept running, then the trader is trapped into constantly having to reassess the odds that each new "top" is the final one, and whether or not to add. This is DANGEROUS and TIRING!

So, I post this as THE WAY NOT TO TRADE! Unfortunately, I have a few more of these. And I am getting very tired of it. I guess I just have not yet gotten to the point of being so tired of it that I stop doing it. It is a bad habit. Please, for your own sake, do not let this become your bad habit!

=tah

I would like to highlight 3 mistakes I made on this trade(s).
#1 Long scout entry on the wrong side of the dragon and the trend. Such a simple rule.
#2 Not checking for KEY levels prior to entry. I took a long position when a key 00 was just under my entry. With the slope of the dragon and trend, it was likely that the 00 level would be tested.
#3 Do not try to pick tops and bottoms of the trend.

Disagreement With Good Reasons

I disagree with your assumptions based on your ongoing addiction to exactness. Sooner or later you will come to realize there is no reliable exacting measure of anything about the market. The market is always in a state of flux.

Neither I, nor anyone else, can know "that" will happen sooner! You were not around in the summer of 2013 and the early fall of 2014 to see some traders decimated by relentless moves opposite their similar trades. Nor can anyone presume to that the "Trend is to consider 30%...." because market pricing is by the authority of the MMs, who make prices according to what they know that will influence the market that we do not yet know, and by what they see on the price queue that no one else is privy to see! Trends are a simple representation of historical movement and nothing more than that. They can be stopped, even turned, quickly enough by the MMs to cause havoc with traders.

-tah

My Example #2 Today of What Not to Do

USDJPY Short Trade Closed:

Closed for gain of 2.3 pips average, 669.5 pips total gain. Another CRAPPY trade disposed of! I am not waiting to see if price continues to drop, which it might. It will be my deserved penalty if it does. THIS IS NOT THE WAY TO TRADE!

Trading like this has serious ramifications. It practically obligates the trader to constantly be on the lookout for "redeeming" entry opportunities. And yet, there cannot be any certainty as to when price will reverse. Trading light relative to account size is necessary, but even that does not help with the frustration and weariness created by being in such a trade.

I still have several like it to go.

-tah

MY EXAMPLE #3 TODAY OF HOW NOT TO TRADE

USDJPY Short Trade Closed:

Closed for loss of 6.8 pips average, 68 pips total loss.

THIS IS NOT THE WAY TO TRADE -
Scout entries on the wrong side of the Dragon are more presumptuous than Classic entries and inherently without any more certainty of outcome.

=TAH

GBPJPY Short Trade Open/Closed:

Classic entry, but in after hours. This is based on the good Classic short setup in the LS earlier today. Price came down nicely, and retraced back above whole number (more short orders got filled). Since then the price has ranged, but imho is showing weakness. Price might or might not do anything in these after hours and into the next Asian session. But, on the off chance that it might, I have take short entry here, which should be an "okay" entry, even if the MMs fiddle the price upwards again tomorrow.

Closed for gain of 25.7 pips average, 257 pips total gain.

FFcal panel , not working yet???

USDCHF

Considering enterling short scout. Price is near 1.0, double top formed in M15, volume decreased. However AS is coming, so I dont know if I should enter or not. And after the SNB fiasko, I dont know If I should ever touch CHF again. Any comments would be appreciated.

Regards
FN



edit: it seems its ranging, so I can go to sleep and wait for LS.