Trade what you see NOT what you expect | Page 1380 | Forex Factory

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Trade what you see NOT what you expect

  • #27,581
  • Edited 6:25am Dec 5, 2009 6:00am | Edited 6:25am
Quoting Blessed Pips
Hi, Kenneth!

Found the two links on page 1816 post 27232 very useful. However, I did not download. Used to just go to the link to view everytime using the links.

However, this morning I find that I can no longer get to the pdf files directly instead I was linked to a directory with the name "allen lee".

Is it no longer accessible?

Many thanks for the thoughtfulness, time and selfless, dedicaded hardwork put into this thread by you and EO and all others to help.

Blessed pips to all!

I will let you know what is going on as soon as I do ,, Ken


Lucklly I did save them..LOL Here I moved them to 4 share. Mew link but you will have to download them.
http://www.4shared.com/dir/23050575/...ok_by_Ken.html
Good Trading To All ; Ken Lee
  • #27,582
  • Dec 5, 2009 3:42pm Dec 5, 2009 3:42pm
Hi Ken,

Managed to pull these two nice longs from the 5 and 10EMA (green circles). Where would you (if not scalping ;-)) cover these 1 o'clock trades?

Then I tried to short when price was going up the wick of the red marked pin at the 663x level. Anything wrong with that? Did the close and confirmation (pin) above the 200MA close out a short?

Have a nice WE.

Cheers

Thomas
Attached Image
  • #27,583
  • Dec 5, 2009 6:38pm Dec 5, 2009 6:38pm
Quoting tdeu
Hi Ken,

Managed to pull these two nice longs from the 5 and 10EMA (green circles). Where would you (if not scalping ;-)) cover these 1 o'clock trades?

Then I tried to short when price was going up the wick of the red marked pin at the 663x level. Anything wrong with that? Did the close and confirmation (pin) above the 200MA close out a short?

Have a nice WE.

Cheers

Thomas

Hope this helps.. Maybe someone else has a different view.. Ken

Also the shooting star was not at the end of a uptrend as price had started to consolidate. A mian point in it's description..
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Good Trading To All ; Ken Lee
  • #27,584
  • Dec 6, 2009 1:05am Dec 6, 2009 1:05am
Hi Ken,

Thanks for your explanation. Fortunately I had a very tight stop above the wick of the pin I traded. But it would have been good to be long from the 1 o'clock trades until NFP.

You make a good point with pulling the stop to BE after 15-20 pips. Because if it goes against the trade one has at least 1/2 risk as a profit. And if it goes to the original entry area there is the next 1/5 o'clock trade anyway.

Please see the attached 1min chart. A pullback from the London opening.
Do you buy the 5, 10 and after that the 21 if we broke 5 and 10 in the same leg. Or do you buy only the 10 and after that the 21 because we came from a lower high.


Cheers

Thomas
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  • #27,585
  • Dec 6, 2009 3:17am Dec 6, 2009 3:17am
GM all,

Today after read the last post of this thread, i decide to make an excel file about the money mangement, i think this file is useful, also you can update or add more information on it.

Change the balance, the % of risk, usd by pip and the objective gain by month and this will change automatically all the results.

Any comment or change are welcome...
Attached File(s)
File Type: xls Money management bis.xls   31 KB | 431 downloads
Trade with the momentum
  • #27,586
  • Dec 6, 2009 4:16am Dec 6, 2009 4:16am
Looking at fiber through a bottle of single malt looking for some clarity lol!!

The weekly chart by meshing the last 2 bars and looking at the size of the last day bar and its close below the 50ema and this 4hr chart makes for a bearish feel going into this week. Last week I was looking for a push north to 154 didnt see it in one push, maybe it needs a running start who knows but I am going to birddog this pair. Look at the 4hr chart, hindsights a bitch but at least we can learn from it all the signs were there.

Double top with divergence
Bearish engulfing outside bar,covering 3 bars actually and right at the top of a run up.
Next candle an inner bar right up against a round number 151 great spot to enter.

I posted a 4hr chart eariler showing where I saw buyers and they have come in I didnt open a position so late on a friday. I am going to watch for pa on lower tf's around the daily 50ema which closed at 1.4875. Between there and 1.4900 a clue for south movement might be found. Well its after 3am pouring my nightcap hope this doesnt look like Sh$t manana ciao!!
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  • #27,587
  • Dec 6, 2009 4:22am Dec 6, 2009 4:22am
GOT to luv um

Inserted Video
  • #27,588
  • Dec 6, 2009 6:10am Dec 6, 2009 6:10am
Quoting tdeu
Hi Ken,

Thanks for your explanation. Fortunately I had a very tight stop above the wick of the pin I traded. But it would have been good to be long from the 1 o'clock trades until NFP.

You make a good point with pulling the stop to BE after 15-20 pips. Because if it goes against the trade one has at least 1/2 risk as a profit. And if it goes to the original entry area there is the next 1/5 o'clock trade anyway.

Please see the attached 1min chart. A pullback from the London opening.
Do you buy the 5, 10 and after that the 21 if we broke 5 and...

To be honest I can't see much on a 1 Min chart. about the only use a 1 min chart has is to show the reversal of a candles wick for possibly a better entry. But no trade decisions should come from them. Sorry I am no help on this one.. I would suggest that we concentrate on the information of the 15min 1 Hr 4 hr and daily charts . This is what the system is built on. Using them all to get good entries and then use them the most to hold for awesome profits.

What a lot of us are missing the point on is that the right entries require little in the way of stops. The real work comes in the form of holding for all the profits giving by the trade. If you look at the entries we use in combination with the Price Action , S/R Trend Lines Channels Etc. The entries stops are very tight. But the key is in the knowing that we are at those areas off the higher charts to be looking for more than the scalps or gump trades.

EO gave some great trades this week. He also advised everyone to look at their own charts for the reasoning behind his targets and entires. Did anyone take advantage of that information ? That is key to ever learning this or any strategy using the information giving to improve our own trading. As we all know EO has not been able to be here as much lately. We better try and learn as much as we can while he is around. Things change.

Luckily we have a few people that still post when he isn't around but more would be better. Even if your only using one entry let everyone know what is working or not working for you and we can all help each other..

That is how these forums really work. When we share ideas.

Sorry Thomas this isn't aimed at you just got to typing and couldn't quit.

Hope everyone is having a great Sunday Ken
Good Trading To All ; Ken Lee
  • #27,589
  • Dec 6, 2009 6:13am Dec 6, 2009 6:13am
Hi Ken
hope you having a great sunday to
  • #27,590
  • Edited 9:03am Dec 6, 2009 7:50am | Edited 9:03am
I have at last just about finished the manual in a form thats all in one place. I apologise for taking so long, but to make it much smaller it had to be changed from images to text, which took a while. I'm aware that there are a few spelling mistakes etc but I will update the file at bit later with the modified version, just thought you might like it up here before trading starts...I'm sure you can put up with a few spelling errors Let me know what you think Ken, if there is anything I've missed or you would like put differently I will do that at the same time.
Attached File(s)
File Type: zip Trade What You See.zip   2.5 MB | 346 downloads
  • #27,591
  • Dec 6, 2009 8:42am Dec 6, 2009 8:42am
Just uploaded a newer version already, as I just noticed some images were actually missing!
  • #27,592
  • Dec 7, 2009 5:15am Dec 7, 2009 5:15am
Hi Ken,

Thanks for your explanation. I use the 1min chart only to fine tune 1/5 o'clock entries near the MAs.

Do you reckon it makes sense to target the green PA line with the short from the 5 EMA?

Cheers

Thomas

Quoting KENNETH lEE
To be honest I can't see much on a 1 Min chart. about the only use a 1 min chart has is to show the reversal of a candles wick for possibly a better entry. But no trade decisions should come from them. Sorry I am no help on this one.. I would suggest that we concentrate on the information of the 15min 1 Hr 4 hr and daily charts . This is what the system is built on. Using them all to get good entries and then use them the most to hold for awesome profits....
Attached Image
  • #27,593
  • Dec 7, 2009 5:49am Dec 7, 2009 5:49am
Quoting tdeu
Hi Ken,

Thanks for your explanation. I use the 1min chart only to fine tune 1/5 o'clock entries near the MAs.

Do you reckon it makes sense to target the green PA line with the short from the 5 EMA?

Cheers

Thomas
Might help. Main thing is to cover trades. it could turn up from this area there is a S/R line here also, You have to take everything into consideration. When taking the and 10 and even the 21 ema trades I still think we could just be consolidating and a breakout on down caould happen. But I wouldn't give all my profits away. It can and does bounce off almost every ma at times before breaking. But if you continue to take the shorts we should be in the trade the right way when it does.
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Good Trading To All ; Ken Lee
  • #27,594
  • Dec 7, 2009 7:06am Dec 7, 2009 7:06am
Good morning/afternoon, fellows

4H closed as doji/inverted hangman.

And 1H closed as hammer.

I am thinking long atm.
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  • #27,595
  • Dec 7, 2009 7:12am Dec 7, 2009 7:12am
Good morning/afternoon
  • #27,596
  • Dec 7, 2009 8:08am Dec 7, 2009 8:08am
H&S?
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  • #27,597
  • Dec 7, 2009 8:12am Dec 7, 2009 8:12am
Quoting Komissar
H&S?
I can see it still going down to previous support @ 627x-628x...MHO
  • #27,598
  • Dec 7, 2009 8:20am Dec 7, 2009 8:20am
That shoulder at 1.6336 is holding
  • #27,599
  • Dec 7, 2009 8:25am Dec 7, 2009 8:25am
With all the downward pressure I havent even tried to turn the mrs or the temptress but the temp is trying to put in a triple bottom on the hourly so that could soon change
  • #27,600
  • Dec 7, 2009 9:18am Dec 7, 2009 9:18am
Looks like the mrs got herself turned
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