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Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: B.S. Trading with Kenneth Lee
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B.S. Trading with Kenneth Lee

Quoting pbanerjee
Here is the 30M chart for the same level.. if you notice, there was a consolidation (bull-bear battle) just below the level. I marked the level (small yellow parallel lines) after drilling down to 15M and 10M (Oanda) time frames and observed that price shot up after struggle at that level. So I drew it there.

Yes, any comments would be appreciated.
still doesn't look like a valid level to me, but its ok. everyone has his own style.

Bullzeye,

The same chart as above on my MT4 on EST timezone looks like this.. let me know how does it look now..the demand level

Moved my SL above to lock in small profit
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Not trend, but imbalance is my friend
Quoting pbanerjee
Bullzeye,

The same chart as above on my MT4 on EST timezone looks like this.. let me know how does it look now..the demand level

Moved my SL above to lock in small profit
thats better, now i see your entry reasons

something like a swap area
Quoting bullzeye
hey bro,

on your chart i don't see anything like demand on your entry, no imbalance, no fight of bulls and bears, nothing...

but anyway the trade could turn positive for you nevertheless

i think the other guys would agree with me

Attachment
100% agree with you bullzeye
Quoting pbanerjee
Bullzeye,

The same chart as above on my MT4 on EST timezone looks like this.. let me know how does it look now..the demand level

Moved my SL above to lock in small profit
hey pb, i think if your going to use lower t/f thats where you should stick to. because if your trading using the 1h charts then you find a level at that point and also a tp at that point if that makes sense?
Quoting Ash2w
hey pb, i think if your going to use lower t/f thats where you should stick to. because if your trading using the 1h charts then you find a level at that point and also a tp at that point if that makes sense?
Somewhere in this thread KL has suggested not going below 30M TF to look for S/D levels. I look for S/D levels at 1H charts.. I go to lower TF's to sharpen the width of the level. I think KL's pdf says something on that. In one of Sam Seiden's articles, he says that he looks for levels at 180M and 240M charts, then go all the way to 2M to look for entries.

Multiple TF's across 30M all the way to Daily become important if there is a conflict with a higher TF level. For instance, if there is daily TF demand level just below the 30M demand level, there is a fair possibility that price may take out our stop at 30M level demand to travel to daily demand level before turning up. This is less probable if price is in strong uptrend.

I agree we must focus on one TF to look for S/D levels but the macroscopic and microscopic view can further refine our trading.

So many ideas to settle into what really works for a particular trading style.
My two pence
Not trend, but imbalance is my friend
Small, trade last night not great but it is what it is. Trying to get focused after the computer issue..
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Good Trading To All ; Ken Lee
It may look from the above chart that I waited for the spinning doji as a entry signal , I DID NOT !!, It was just when I got home from work .

My entry signals ARE the Levels. Just want to clear that up.. we are trying to gain a edge over other traders to do this we have to understand why we are looking at this type of information . That is all any trading is dissecting the info and using it in your favor.

Large trading concerns have meetings where different parts of the organization give their views on upcoming price movement then they take it all and come up with the plan . We may have less information but we are doing the same.

It would be great to have experts in fundamentals to give their expert advice on how the next news release will move the market as well as how far.

I am sure they have team players that can tell pretty close to how much their orders will also move the price. We have limited info but now can see how some of their information does control parts of the price action.

So just keep at it and it will come . My little PDF at the first of this thread is no way a definitive work on this and isn't anything novel in it.

So look to the experts to find the answers all I do is is share what I have found and the way I view it. WE all SEE differently but if your course isn't clear and your choice cloudy you can find yourselves more lost than on the the path to success.

Cheers Ken

Plus my style of quick strikes and profit taking doesn't agree with some and it shouldn't, the best is still a tight entry and then a long ride to a higher time frame target.
Good Trading To All ; Ken Lee
Quoting pbanerjee
Somewhere in this thread KL has suggested not going below 30M TF to look for S/D levels. I look for S/D levels at 1H charts.. I go to lower TF's to sharpen the width of the level. I think KL's pdf says something on that. In one of Sam Seiden's articles, he says that he looks for levels at 180M and 240M charts, then go all the way to 2M to look for entries.

Multiple TF's across 30M all the way to Daily become important if there is a conflict with a higher TF level. For instance, if there is daily TF demand level just below the 30M demand level,...

Yes , I use the 30 min chart primarily. But always know where price is in reference to my longer time frame charts. If I see that a supply level is another 50 pips awya on say a 4 hr chart i have know problems taking a long into that supply. if it was say 20 pips i would be a bit more worried as price can and does turn before levels , And a handful of pips from a 4 hr level can be more than you think .

A nice fast chart entry inside a 4 hr or daily level is a very good thing as well, but again be careful if your not great at reading price action you can find yourself getting stopped a lot.

You can practice reading PA . By looking back across your charts at wicks then switching to a very fast chart to see how price was acting before and during that pins formation . The start watching those areas in real time on your trading chart and you will start to understand what real price action is .

Cheers Ken
Good Trading To All ; Ken Lee
[quote=pbanerjee;5527461]Somewhere in this thread KL has suggested not going below 30M TF to look for S/D levels. I look for S/D levels at 1H charts.. I go to lower TF's to sharpen the width of the level. I think KL's pdf says something on that. In one of Sam Seiden's articles, he says that he looks for levels at 180M and 240M charts, then go all the way to 2M to look for entries.


**** yes but the h1 has to be a zone in the first place and not a pivot



Multiple TF's across 30M all the way to Daily become important if there is a conflict with a higher TF level. For instance, if there is daily TF demand level just below the 30M demand level, there is a fair possibility that price may take out our stop at 30M level demand to travel to daily demand level before turning up. This is less probable if price is in strong uptrend.

*** defiantly like i said about looking at the daily

I agree we must focus on one TF to look for S/D levels but the macroscopic and microscopic view can further refine our trading.

**** i agree thats what i do but again the zone we are looking to drill into needs to be a zone and ideally trending that way. that wasnt a zone and price was trending down from the daily
follow up, But 12 hrs !!!!!!!
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Good Trading To All ; Ken Lee
Quoting Ash2w

**** yes but the h1 has to be a zone in the first place and not a pivot
Pivots are literally irrelevant in this thread. I may be imagining an S/D level when there exist none, but pivots are to be ignored altogether in this method -- I appreciate that.

Have a great weekend guys
Not trend, but imbalance is my friend
Quoting pbanerjee
Pivots are literally irrelevant in this thread. I may be imagining an S/D level when there exist none, but pivots are to be ignored altogether in this method -- I appreciate that.

Have a great weekend guys
Very true but once again it can be a problem of definition , where one may say a pivot is the apex of each swing and not necessarily, The mathematical formula of the pivot indicator. But we don't use indicators. So yes pivots aren't used here.

Yes everyone have a great weekend. Ken
Good Trading To All ; Ken Lee
Quoting Kenneth Lee
follow up, But 12 hrs !!!!!!!
Kenneth,

Two things.
First, it took 12 hours to enter the supply zone too, after it was formed.

Second and more importantly, don't you think you took the best decision in real time to quit much before the target was met? After all it's all about price not finding balance on rebound.

If price seems to be hanging around the level for more than say 2-4 bars/candles, perhaps the "out of balance" situation is not present at that level for now? Isn't that the the reason for our being in the trade at the first place? The longer it takes to "slip" more likely it is finding the balance with each bar.

Anyways, in hindsight half the 'man'kind regrets getting married. I would imagine it's the best decision at real time that counts in trading.
Not trend, but imbalance is my friend
Quoting pbanerjee
Kenneth,

Two things.
First, it took 12 hours to enter the supply zone too, after it was formed.

Second and more importantly, don't you think you took the best decision in real time to quit much before the target was met? After all it's all about price not finding balance on rebound.

If price seems to be hanging around the level for more than say 2-4 bars/candles, perhaps the "out of balance" situation is not present at that level for now? Isn't that the the reason for our being in the trade at the first place? The longer it takes to "slip"...
Not sure of what your talking about, if it is my trade . My entry was spot on in at my entry on the supply zone. it took 12 hr to hit the demand level target. a lot of that time was during low volume times of day.

But no I never regret taking profits . But if I find that 80 or 90 percent of my trades go to their targets I may rethink not holding or at least try and get a second entry which there was plenty from that supply level.

Why I also stated some may find my ninja style of trading not to their liking not that this was a quick trade, But I do like low stress trading .

Price had completely retraced back to my entry once so decided to take the profits on the following swing. That channel could have produced close to 100 pips if a person was nimble enough to spin on those two areas. But many find the swap lines a bit obscure.

Myself I try more to follow my decided on trend now days. Even as a scalp this is better than a lot of scalp trades I have taken in the past. Plus 20 pips a day is on target for my personal 20% gain per week.

Ken
Good Trading To All ; Ken Lee
Thanks Ken, makes sense.
Finally, I take a break for my weekend now :-)
Not trend, but imbalance is my friend
Quoting Kenneth Lee
Small, trade last night not great but it is what it is. Trying to get focused after the computer issue..
ken look at the yellow lines ive drawn in on your graph. wouldnt that be better? if not why? cheers
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Quoting Ash2w
ken look at the yellow lines ive drawn in on your graph. wouldnt that be better? if not why? cheers

If that is your choice that is fine I have gone over where and why i pick my levels lines many times. First my level is tighter so stop is less. Plus if I wnt i could incorporate the next level above mine because of it.

But mainly your trying to incorporate the past into the present,. Those candles in that base have played out. I look for the exact spot where price leaves the grouping of a base if there is one one. Which is where i draw my lower line from . The moving of price while almost equal doesn't get much of my attention . But when it leaves and how it leaves does.


Don't have time to post anything off to work ,, Cheers Ken
Good Trading To All ; Ken Lee
I would like to ask if I've made some mistake here, or was it just one of the times things didnt go "as they should".

I've entered when price approached a supply level, returning for the 1st time. There was also the 150 ema and I've entered just below it. My entry was hit, price retraced and formed a nice pinbar the next day, so I was very confident. It however never made it far south and in the end continued up and hit my SL.
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Thoughts are things
Quoting Quezoy
I would like to ask if I've made some mistake here, or was it just one of the times things didnt go "as they should".

I've entered when price approached a supply level, returning for the 1st time. The re was also the 150 ems and I've entered just below it. My entry was hit, price retraced and formed a nice pinbar the next day, so I was very confident. It however never made it far south and in the end continued up and hit my SL.
hey my friend, don't worry you spotted the right level and the confluence of other reversal sings also (daily pin, 150 ema) but not every level held as you know. the ...same here i take a loss on this one

maybe we can play the break up of this area and look out for short on the level above (see chart)

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