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Sonic R. System

  • #81,901
  • Dec 28, 2015 10:14am Dec 28, 2015 10:14am
Quoting mwql23
EURUSD On the M15 chart and H1 chart (not shown), L-H-HL pattern appears and the wave crosses above the dragon. The dragon is trending upwards, above 89 EMA. On the daily chart (not shown), L-H-HL pattern appears and the dragon approaches the 89 EMA from below. EP: 1.0975 SL: 1.0955 TP: 1.0995 {image}
Ended up closing the trade, as a losing trade. Loss of 10pips

Why I closed the trades:

a. 89 EMA was broken twice, within half of the London session
b. Dragon starts to trend sideways and downwards
c. Strong bearish candles

Attached Image (click to enlarge)
Click to Enlarge Name: 20151228 1 Exit-15M.jpg Size: 296 KB
  • #81,902
  • Dec 29, 2015 7:59am Dec 29, 2015 7:59am
Hello!

I think than I need a mentor. Somebody wants to be for me?. I stay more than 5 years in FOREX. IŽd like better my trading.
Best: somebody wit experience in positive balance long time.


Thank you
Royal
"Sharing is Caring"
  • #81,903
  • Dec 29, 2015 8:39am Dec 29, 2015 8:39am
Trade for tonight

EURUSD

Position Short
Entry price 1.0950
Stop loss 1.0975
Take profit 1.0925
Exit price 1.0925
Profit/Loss +25pips

Entry

Daily chart (not shown)
a. Candles are becoming shorter at the top of the peak
b. Identified spinning top

H1 chart (not shown)
a. Price bounced off 1.9950 region twice (round number 2.0000)
b. Identified double top

Therefore, I concluded a strong sell side.

M15 chart
a. H-L-LH pattern
b. Strong bearish candle, breaking previous support level (1.0960)


Attached Image (click to enlarge)
Click to Enlarge Name: 20151229 1 EU-entry M15.jpg Size: 301 KB


Exit

I moved stop loss to take profit and price went back up and triggered my stop loss.

Attached Image (click to enlarge)
Click to Enlarge Name: 20151229 1 EU-exit M15.jpg Size: 300 KB



Reason

A possible reason for the winning trade is due to the release of economic news (ie USD Goods trade balance)
  • #81,904
  • Edited 9:20am Dec 29, 2015 8:46am | Edited 9:20am
Dear mwql

Sorry my advert but I can not to see the momentum... before there is: higher high......and higher low.........not rules clarify correct original.

Market condition is range (for me).

Well it should to be (opinion humble): lower high, lower low, lower high for short.

Regards
Royal
"Sharing is Caring"
  • #81,905
  • Dec 29, 2015 9:20am Dec 29, 2015 9:20am
Quoting Royal7
Dear mwql Sorry my advert but I can not to see the momentum... before there is: higher high......and higher low.........not rules clarify correct original. Well it should to be (opinion humble): lower high, lower low, lower high for short. Regards Royal
Royal, from the higher TFs, I concluded there is a strong short signal.

Looking from the right side of the chart, instead of the left, I saw the H-L-LH pattern.

Anyway, this is the original chart I based my entry on, without any markings. Hope it is clear to you, I am also new to Sonic R, by the way.

Attached Image (click to enlarge)
Click to Enlarge Name: 20151229 1 EU-entry M15.jpg Size: 300 KB
  • #81,906
  • Dec 30, 2015 6:29am Dec 30, 2015 6:29am
EURUSD

Entered a long trade at the start of the London session.

The reasons for entering the trade is because I believed the steep down trend will not resume into a lasting down trend. The price was ranging and price began to trend upwards (higher lows). I assumed price will recover and break out upwards from the range

Stop loss hit -20pips

Attached Image (click to enlarge)
Click to Enlarge Name: 20151230 1 EU Entry-M15.jpg Size: 298 KB
  • #81,907
  • Dec 30, 2015 3:12pm Dec 30, 2015 3:12pm
Quoting mwql23
The reasons for entering the trade is because I believed the steep down trend will not resume into a lasting down trend ... I assumed price will recover and break out upwards from the range Stop loss hit -20pips {image}
SonicR is about trading the technical position of the market as viewed on a price graph (chart). It is objective, meaning you and I may be thousands of miles apart and yet you can look at your chart and I can look at my chart and we both would see the same opportunity (or lack of opportunity). What you or I believe or assume is not a part of the set up. Trade the set up objectively would be my advice.
  • #81,908
  • Dec 31, 2015 3:13pm Dec 31, 2015 3:13pm
Quoting ddaytrader
{quote} SonicR is about trading the technical position of the market as viewed on a price graph (chart). It is objective, meaning you and I may be thousands of miles apart and yet you can look at your chart and I can look at my chart and we both would see the same opportunity (or lack of opportunity). What you or I believe or assume is not a part of the set up. Trade the set up objectively would be my advice.

I love Sonic R, Raghee wave, Vegas or two ema simple system.
Thanks for keeping trading really simple!

Happy New Year!
  • #81,909
  • Dec 31, 2015 8:45pm Dec 31, 2015 8:45pm
Quoting ddaytrader
{quote} SonicR is about trading the technical position of the market as viewed on a price graph (chart). It is objective, meaning you and I may be thousands of miles apart and yet you can look at your chart and I can look at my chart and we both would see the same opportunity (or lack of opportunity). What you or I believe or assume is not a part of the set up. Trade the set up objectively would be my advice.
I still need to work on stop guessing where price may go next and then working backwards to find the supporting price patterns, to fit the guess.

Happy 2016 everybody!
  • #81,910
  • Dec 31, 2015 11:54pm Dec 31, 2015 11:54pm
Hi, Sonic. appreciate for what you have done here.
i am new to forex and lucky to found your thread.
and still reading every post, 4096 pages need quite a reading.
but at the meantime, i have try your indicators on MT4, but i couldn't see the resistant and support line, and pivot level.
is it the indicators that you provided not included the S&R? let me show you my print screen.
sorry if i miss something in the middle cause im still on not so much pages here. keep reading and reading. thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.jpg Size: 310 KB
  • #81,911
  • Jan 1, 2016 1:41pm Jan 1, 2016 1:41pm
Quoting sqaws
Hi, Sonic. appreciate for what you have done here. i am new to forex and lucky to found your thread. and still reading every post, 4096 pages need quite a reading. but at the meantime, i have try your indicators on MT4, but i couldn't see the resistant and support line, and pivot level. is it the indicators that you provided not included the S&R? let me show you my print screen. sorry if i miss something in the middle cause im still on not so much pages here. keep reading and reading. thanks. {image}


@SQAWS, you NEED and SHOULD ONLY look at those posts and charts back in 2008 if you really want to know about Sonic R originals as well as not to be confused with variations. Go further than those original posts will do you more harm than help!

Happy New Year all!
  • #81,912
  • Jan 1, 2016 4:21pm Jan 1, 2016 4:21pm
Quoting sqaws
but at the meantime, i have try your indicators on MT4, but i couldn't see the resistant and support line, and pivot level. is it the indicators that you provided not included the S&R? let me show you my print screen. sorry if i miss something in the middle cause im still on not so much pages here. keep reading and reading. thanks. {image}
You will need to read more carefully: From posts #7 and #8 going way back to October 2008:

Quoting Mombone
Am I missing something?? What indi puts the white and red lines on the chart?? Thanks Mombone

Quoting sonicdeejay
{quote} Hello Mombone, The lines are drawn by myself for illustrating purpose...in Paint..It is not include in the MT4. Sonic
Support and resistance and stop loss and take profit levels are found by YOU ... not by an indicator.
  • #81,913
  • Jan 2, 2016 7:17am Jan 2, 2016 7:17am
Hello

I want to share my last yearŽs pics. I accept critical of experts in dragon. So, I look for mentor
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15FF.png Size: 93 KB
"Sharing is Caring"
  • #81,914
  • Jan 2, 2016 2:49pm Jan 2, 2016 2:49pm
Quoting Royal7
Hello I want to share my last years pics. I accept critical of experts in dragon. So, I look for mentor

First, you do not need a mentor. I am not a mentor. What you need is to stop trading for a week, and instead watch the market like a hawk and write down your observations in a journal. You need to remove all indicators except for the dragon, i.e. the band formed by the 34 exponential moving averages of the high, close, and low respectively. Do not watch volume. Do not watch pivot points. Get rid of the 89 exponential moving average. Do NOT READ ANY POSTS by traderathome - he was not and is not and never will be a SonicR trader. Read early Sonicdeejay posts only - first few pages only.

Watch for trend: Uptrend = distinct swing high, then a distinct swing down to a higher low than the last swing low, and then a new swing high above the dragon. During an uptrend, you must train yourself only to look for long trades.

Downtrend = distinct swing low, followed by a rally in a distinct swing to a lower high, followed by a lower low below the dragon. During a downtrend, you must train yourself only to look for short trades.

Learn to draw proper trendlines. Trendlines track trend. A proper trendline starts at lowest relevant low or highest relevant high, and passes through no price action. Your observation period will help you to learn what is a relevant high or low to use as a tredline anchor. This is ot subjective, but it must be learned by observation, and in my opinion, it cannot be taught except in a very general form. In general form, the best explanation and instruction for how to draw trend lines correctly can be found in Victor Sperandeo's books: Methods of a Wall Street Master and/or Principles of Professional Speculation. Specifically his chapters on technical analysis.

Here is your chart with relevant trendline and various short entry opportunities.

Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 3.JPG Size: 200 KB


In my drawing below, the upper yellow trendline was the first relevant long trend line I could draw during the consolidation, and then the red was was drawn to reflect continued price action as it developed. The lower red trendline was the relevant short trend line. (Please study these short entry opportunities and figure out for yourself why I would identify them as places to enter short - I cannot be counted upon to come back and explain in further detail, and if you do not agree with my analysis, I do not care and I will not get into a debate or contest with anyone about anything I post).

Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 2.JPG Size: 203 KB


This is all in hindsight, of course, and anyone can make it look easy in hindsight, so by all means, treat anything I say to you with a critical eye and a skeptical mind. My advice to you, and this is all the advice I can give, because I am not a mentor, I am not a trading educator, I am not a commercial services provider - I am just a regular person like you who is quite happy simply to be a private retail trader:

1) You need to make your chart as simple as you can make it. Remove all indicators except for the dragon.

2) Learn to focus on whether the market is making higher highs and higher lows above the dragon or lower lows and lower highs below the dragon. Learn to draw trendlines, especially when the market is consolidating on either side of the dragon. These will often look like what market technicians sometimes label as "wedges" or "triangles" or "hinges." When price breaks out of these, that is the clue that the consolidation may be ending.

3) There is never a sure thing. Price may first break out above, and then reverse quickly into a downtrend. Price may breakout below, and then quickly reverse into an uptrend.

4) You will not have all winning trades. You do not need to have all winning trades to make money. If you trade only long above the dragon and short below the dragon, if you wait for price to breakout of consolidation around the dragon (also known as "chop"), and if you always use a stop loss based on price action, and if you never average down or average up (also known as adding to a loser, which is how traderathome trades and is NOT how Sonicdeejay or any of the senior Sonikers trade) you will have more winners than losers over the long long run, and your winners should be larger than your losers so long as you take profits based on Support below the market and Rsistance above the market, making some allowance for letting your profits run.

Good luck to you - I wish you the best in your trading!
  • #81,915
  • Edited 8:57pm Jan 2, 2016 8:39pm | Edited 8:57pm
Quoting ddaytrader
{quote} First, you do not need a mentor. I am not a mentor. What you need is to stop trading for a week, and instead watch the market like a hawk and write down your observations in a journal. You need to remove all indicators except for the dragon, i.e. the band formed by the 34 exponential moving averages of the high, close, and low respectively. Do not watch volume. Do not watch pivot points. Get rid of the 89 exponential moving average. Do NOT READ ANY POSTS by traderathome - he was not and is not and never will be a SonicR trader. Read early...
@ddaytrader, you are so frank to say straightly all.

I like to put few simple points of MANTRA: RIDE A TREND, BUY DIP, SELL RALLY, NEVER PICK TOP OR BOTTOM, CUT LOSS, RUN PROFIT, GET BORED.

1- ride a trend (use EMA34 band high,close,low or any other tool to identify a trend)
1.1 if there is not a trend identified by you... stay away. No matter what others may say about a trend, if you do not see it, do not ride it.

2- with a trend, sell a rally or buy a dip, or put it simpler, just trade the retracement as long as the trend (you saw) exists.
2.1 - so if the trend gets weaker... be cautious or get out if you have a trade (by tightening stoploss , not loosening it)
2.2 - many will like to trade the bounce off EMA34 band which is very high probability, i think.

3- cut profit too early (by professional traders) or let loss run too long (by newbies) are two most common sicknesses

4- Everytime you come cross any other trader's analysis or signal even hindsight, try to pinpoint a loophole in their setups... You will gradually classify a winning trade which is just lucky from one which is perfect, and a losing trade which is perfect setup from one which is poor. Because this is according to your own system, you should better not argue with anyone.

5- Then, one day you do not need any system or any one to tell you what to do; you just simply trade what make sense to you and accept the outcome that market offers... often than not, you already know in advance what market would offer and what you should react to it before taking any trade. the loss or win will just become by-product of what you believe.

6- Then, unless you still want to hang around to help other newbies, you will find forum/chatroom not a place for you any more...you will leave it - you might or might not like to trade anymore by yourself.

HAPPY NEW YEAR!
  • #81,916
  • Jan 2, 2016 10:00pm Jan 2, 2016 10:00pm
I have read about the roads others have taken, the hours spent working on their crafts and the price paid when their accounts gone bust, to reach a level of success in trading. How will my path be or will I still be trading xx months/years from now? Who knows Just some random rambling.

I have been watching and making notes from Martin Pring's technical indicators course. I seriously need more fundamental knowledge on TA, before going back to paper trade.
  • #81,917
  • Jan 3, 2016 4:46am Jan 3, 2016 4:46am
Quoting xtrade_vn
{quote} @SQAWS, you NEED and SHOULD ONLY look at those posts and charts back in 2008 if you really want to know about Sonic R originals as well as not to be confused with variations. Go further than those original posts will do you more harm than help! Happy New Year all!
Quoting ddaytrader
{quote} You will need to read more carefully: From posts #7 and #8 going way back to October 2008: {quote} {quote} Support and resistance and stop loss and take profit levels are found by YOU ... not by an indicator.
Thanks, xtrade_xn and ddaytrader for the advices. will keep on learning the system.
  • #81,918
  • Jan 3, 2016 6:10am Jan 3, 2016 6:10am
Quoting ddaytrader
{quote} First, you do not need a mentor. I am not a mentor. What you need is to stop trading for a week, and instead watch the market like a hawk and write down your observations in a journal. You need to remove all indicators except for the dragon, i.e. the band formed by the 34 exponential moving averages of the high, close, and low respectively. Do not watch volume. Do not watch pivot points. Get rid of the 89 exponential moving average. Do NOT READ ANY POSTS by traderathome - he was not and is not and never will be a SonicR trader. Read early...
Dear ddaytrader:

Thank You for his attention and dedication. I have read all thread of Sonicdeejay. And I like me: Simplicity of Sonic.

Kind Regards
Royal
"Sharing is Caring"
  • #81,919
  • Jan 3, 2016 7:09am Jan 3, 2016 7:09am
Hello everybody and happy new here

Surfing in google I come across to these 2 threads:
1) "Sonic R. System" by "sonicdeejay" developed with the contribution of "tradeathome".
2) "PVSRA (Price, Volume, S&R Analysis)" developed by "tradeathome" himself. Here the link.
Both of them are based on "Volume price analysis", developed in some home by "tradeathome" and the template looks like the same.
What is the crucial difference between them?
If "tradeathome" contributed to develop the Sonic system why he started the "PVSRA" thread and trading with that system? I don't get it.

Regards
Merka
  • #81,920
  • Jan 3, 2016 9:29am Jan 3, 2016 9:29am
Quoting Merka
Hello everybody and happy new here Surfing in google I come across to these 2 threads: 1) "Sonic R. System" by "sonicdeejay" developed with the contribution of "tradeathome". 2) "PVSRA (Price, Volume, S&R Analysis)" developed by "tradeathome" himself. Here the link. Both of them are based on "Volume price analysis", developed in some home by "tradeathome" and the template looks like the same. What is the crucial difference between them? If "tradeathome" contributed to develop the Sonic...
SonicR is not PSVRA. traderathome did not develop SonicR. The great mystery of this thread (SonicR System) is why in the world did Sonicdeejay abandon the system and the thread to the direction of traderathome. SonicR is primarily a "with trend" system based upon support and resistance and using the 34 exponential moving averages of the high, the close, and the low on the M15 chart to determine the trend.

If you want PSVRA then I advise you to go to the PSVRA thread here or you can go to traderathomes new home at donnaforex.xom. But SonicR, at least as it was originally developed by Sonicdeejay and as it was originally presented in the first pages of this thread was not dependent upon volume. And traderathome is not one who understands support and resistance. His "system" is largely based on conspiracy theories and paranoia and assumes the markets are "rigged" or "fixed." He advocates adding to your losing trades in the hope that you will never have to take a loss. This is a recipe for blown accounts and large losses. SonicR advocated strict money management, always have a stop loss, never add to a losing trade, and always have a plan to let your profits be larger than your losses but still to take profits as price moved in your favor but met resistance or support levels.

In my opinion, this thread would still be going strong had sonicdeejay put an end to traderathome's domination of the content. Senior sonikers such as Domas, Basber, Muhammed, and others left this thread and forex factory because traderathome took over and newbies were seduced by his rants about market makers and market manipulation. Senior sonikers new better, and we were each happy simply to retreat into our private lives and trade the original system, often with our own price action based modifications, and leave the traderathome cult to itself.

Make no mistake: Sonicdeejay never should have allowed traderathome to take over his thread. traderathome is not a true support and resistance trader. traderathome's psvra system depends on a flawed understanding of the way markets work. SonicR system needs only the dragon (and even that becomes unnecessary with experience) and an appreciation for how price action based on how traders (the market) behave as price trends and consolidates (ranges).

This was the best thread at FF for about two years (2008-2009). From 2010 through 2011 much effort was wasted as Sonicdeejay gave control to traderathome and the senior sonikers tried to minimize traderathome's damage. From 2012 on, more or less, this has not been SonicR System but Traderathome's Paranoia thread. All senior sonikers abandoned the thread. We did not abandon the system, however. We just went underground, and kept it to ourselves.

If you want to learn a simple system that will make you rich, then study the original SonicR. If instead you want to be cranky and mean spirited and paranoid, then follow the PSVRA crowd.
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