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Why did you start trading and what do you expect from it? 19 replies

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Trade what you see NOT what you expect

  • #27,781
  • Dec 14, 2009 9:34am Dec 14, 2009 9:34am
Here's a monthly chart for everyone to ponder
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Just digging in the trenches like everyone else!
  • #27,782
  • Dec 14, 2009 9:35am Dec 14, 2009 9:35am
Here's a weekly for everyone to ponder
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Just digging in the trenches like everyone else!
  • #27,783
  • Dec 14, 2009 10:01am Dec 14, 2009 10:01am
Quoting rattyo
Looking through this method.

Are the candles I have highlighted black where entries should be taken to scalp posistions.
You've highlighted some nice PA. Don't forget to look at your higher time frames for S/R and use your m15 with PA when we near those levels for your position. This is not a scalping method, it's intraday trading. Some trades might only yield 10 pips and others will yield hundreds. It's up to you to manage your trades effectively and not freeze up when PA shows you a position to take.
Just digging in the trenches like everyone else!
  • #27,784
  • Dec 14, 2009 10:11am Dec 14, 2009 10:11am
Quoting eohater
You've highlighted some nice PA. Don't forget to look at your higher time frames for S/R and use your m15 with PA when we near those levels for your position. This is not a scalping method, it's intraday trading. Some trades might only yield 10 pips and others will yield hundreds. It's up to you to manage your trades effectively and not freeze up when PA shows you a position to take.

I know EU S/R levels blind folded. Fib Levels coming out my ears LOL.

But taking positions of these candles is a new phenomen for me.

Another question regarding MA's

I was taught 20EMAs and 50SMAs. MA's lag so waiting for crosses of 20's and 50's normally I have missed the move especially on timeframes above 15min..On ranging markets MA crosses are worthless for entries it seems to my cost.

I notice your using 10, 21, 200 62 etc...Ive seen others on other threads use 14 100 etc.

My mentor told me banks use, 20ema thats why he was using it and teaching me...

I feel I'm missing something here.
rat
  • #27,785
  • Edited 10:58am Dec 14, 2009 10:30am | Edited 10:58am
Quoting rattyo
I know EU S/R levels blind folded. Fib Levels coming out my ears LOL.

But taking positions of these candles is a new phenomen for me.

Another question regarding MA's

I was taught 20EMAs and 50SMAs. MA's lag so waiting for crosses of 20's and 50's normally I have missed the move especially on timeframes above 15min..On ranging markets MA crosses are worthless for entries it seems to my cost.

I notice your using 10, 21, 200 62 etc...Ive seen others on other threads use 14 100 etc.

My mentor told me banks use, 20ema thats why he was using...

There is nothing in the system that uses a MA cross. To take a trade. The Ma's are being used as S/R lines and then the Price Action around them is what is being watched for entries. Primarlly to get better entries on bigger moves. But if we are in a ranging market or those times of the day when price consolidates they can be used for scalping. The orignal pdf is on the first post. and here is a additional one with more information . There is a good amount of information regarding the different entries and the confirming information which makes them profitable. But it sounds like you have avery good understanding of the market and maybe some of these ideas can fit into your trading.

Trade Well Ken


http://www.forexfactory.com/attachment.php?attachmentid=374523&d=Dec 7, 2009 12:08pm
Good Trading To All ; Ken Lee
  • #27,786
  • Dec 14, 2009 10:35am Dec 14, 2009 10:35am
Quoting KENNETH lEE
There is nothing in the system that uses a MA cross. To take a trade. The Ma's are being used as S/R lines and then the Price Action around them is what is being watched for entries. Primarlly to get better entries on bigger moves. But if we are in a ranging market or those times of the day when price consolidates they can be used for scalping. The orignal pdf is on the first post. and here is a...
Ive read the PDF and understand these aspects.

What I want to know is WHY 62ema is a dynamic support level on an hour chart...

theres other people using 14emas on 5 min charts..Others using 200 ma on the daily is the trend etc...

People say who cares as long as your making pips...But I'd like to know where people pluck these MA's numbers from...
rat
  • #27,787
  • Dec 14, 2009 10:52am Dec 14, 2009 10:52am
Quoting rattyo
Ive read the PDF and understand these aspects.

What I want to know is WHY 62ema is a dynamic support level on an hour chart...

theres other people using 14emas on 5 min charts..Others using 200 ma on the daily is the trend etc...

People say who cares as long as your making pips...But I'd like to know where people pluck these MA's numbers from...
That I am sorry to say I don't know i didn't develop this system just try and do my small part of helping a little. Ken
Good Trading To All ; Ken Lee
  • #27,788
  • Dec 14, 2009 11:34am Dec 14, 2009 11:34am
Does anyone factor in the average daily range
  • #27,789
  • Dec 14, 2009 11:40am Dec 14, 2009 11:40am
Quoting frenz
Does anyone factor in the average daily range
Average daily range?

what for swing trade stopploses.
rat
  • #27,790
  • Dec 14, 2009 11:41am Dec 14, 2009 11:41am
Hey everyone

It seems some folks are having a little trouble with the "zip" PDF file that LuckyLady so thoughtfully worked very hard on putting together. She and I have been trying to figure out why unzipping it isn't working for some.

I have zipped it using win-zip version 12. I posted it to my journal, downloaded it and it unzips OK for me now with either Win-zip (I assume version 12 or later) or XP's default compression routine (Right click on file, pick "extract here").

So give it shot and please report any problems you may have....
Attached File(s)
File Type: zip Trade What You See.zip   2.5 MB | 851 downloads
Ghost Rider - WWTBMD?
  • #27,791
  • Dec 14, 2009 11:51am Dec 14, 2009 11:51am
It seems that if there is no news to really push it in a direction and the market is ranging then the adr comes into play

just thinking out loud
  • #27,792
  • Dec 14, 2009 1:34pm Dec 14, 2009 1:34pm
Quoting albchr
Hey everyone

It seems some folks are having a little trouble with the "zip" PDF file that LuckyLady so thoughtfully worked very hard on putting together. She and I have been trying to figure out why unzipping it isn't working for some.

I have zipped it using win-zip version 12. I posted it to my journal, downloaded it and it unzips OK for me now with either Win-zip (I assume version 12 or later) or XP's default compression routine (Right click on file, pick "extract here").

So give it shot and please report any problems you may have.......

I don't use win zip and it opened fine.. Thanks Lucky Lady and Albchr
Good Trading To All ; Ken Lee
  • #27,793
  • Dec 14, 2009 2:43pm Dec 14, 2009 2:43pm
Quoting rattyo
I know EU S/R levels blind folded. Fib Levels coming out my ears LOL.

But taking positions of these candles is a new phenomen for me.

Another question regarding MA's

I was taught 20EMAs and 50SMAs. MA's lag so waiting for crosses of 20's and 50's normally I have missed the move especially on timeframes above 15min..On ranging markets MA crosses are worthless for entries it seems to my cost.

I notice your using 10, 21, 200 62 etc...Ive seen others on other threads use 14 100 etc.

My mentor told me banks use, 20ema thats why he was using...

The ma's I use are laid out in the pdf on post#1. Most institutional traders are required to have a 200sma on all their charts. You'll find that when price nears a 200sma, that their is action. Now take now for instance, we have cleared the m15 200sma, next in line is to go for the h1 200sma, which will be a bounce, should we get past the 200sma on the h1, you'll find the next target to be the 200sma on the h4.

As to ma's crossing, don't use this for a reason to enter, use it for management of your position. Let's say for instance that you've taken a long position and the h1 10 and 50 have crossed and pointing in a northerly position. Your long position should be covered just below the cross price. Price can come back to this point before continuing north, or it could just wipe out the cross completely. Crosses of the ma's are not a signal to enter or take a position, it's simply further confluence for your position. MA's follow price, not the other way around.

Trade well!
Just digging in the trenches like everyone else!
  • #27,794
  • Dec 14, 2009 2:46pm Dec 14, 2009 2:46pm
Quoting rattyo
Ive read the PDF and understand these aspects.

What I want to know is WHY 62ema is a dynamic support level on an hour chart...

theres other people using 14emas on 5 min charts..Others using 200 ma on the daily is the trend etc...

People say who cares as long as your making pips...But I'd like to know where people pluck these MA's numbers from...
The ma's in this system, method, of trading have been complied from trial and error. It helps me see what I'm looking for. Remember how an ma is comprised. It's simply a smoothing of price over a specified period of time (candles).
Just digging in the trenches like everyone else!
  • #27,795
  • Dec 14, 2009 10:30pm Dec 14, 2009 10:30pm
Hi Ken

Just finished reading your summary or should I say e book
Its nice to read a document as thorough as that with the examples and its recent and not written with a marketing edge

Definitely clarifies a few stages of trading and explains more areas in a logical systematic approach

Have been getting good results with the outlined system over the last few weeks

Was hooked on the dibs method and yes also good results but I think there are a few more options with the above system


well i think you have something there that I wouldn't be surprised if some shiester marketer copied it packaged it and advertised it 4 three easy payments of $999.

Merci Bien
  • #27,796
  • Dec 14, 2009 11:17pm Dec 14, 2009 11:17pm
Quoting albchr
Hey everyone

It seems some folks are having a little trouble with the "zip" PDF file that LuckyLady so thoughtfully worked very hard on putting together. She and I have been trying to figure out why unzipping it isn't working for some.

I have zipped it using win-zip version 12. I posted it to my journal, downloaded it and it unzips OK for me now with either Win-zip (I assume version 12 or later) or XP's default compression routine (Right click on file, pick "extract here").

So give it shot and please report any problems you may have.......
Thanks so much Chris, really appreciate your help. Could I also just add, Ken has done an awful lot of work writing this pdf, his work is over as far as it is concerned, so if anybody has any problems with opening the zip file could they please address them to me or Chris or post the problem in the thread. Thanks.
  • #27,797
  • Dec 15, 2009 3:18am Dec 15, 2009 3:18am
Good Morning All: I want to make a comment about the overall idea of this system I think the overall goal gets missplaced sometimes.. The idea behind this strategy is

No. 1. To help us to identify major areas where price may change direction . By using our higher time frame charts. Then plotting our S/R lines and channels or trendlines. That gives us our targets or areas of interest.

No.2 when price aproaches these areas we then can zoom down or look at our lower time frame charts for PA to develop and a formation of a entry signal. Targeting another Area of interest off our higher time frame charts to take profit.

No.3 If price is in a tight range or consolidation the use of the entry ideas can allow us to add to our profits by scalping or short term trades.

I mention this as the main goal should be to hold longer term trades. While possiblly taking counter trend or scalping trades on a different account or hedging your normal one. I post charts showing many entries. But concentrate on the extreme ones at the outer edges of the price. Those are the most profitable entries the others show possible secondary entries if you missed the first and then countertrend trades. I am not showing those saying take them all. Trying to would just confuse most people and not help.

But as mentioned in the past the idea Eo and Infinty have placed here are to make it possible to make positive profits in any market condition. Just as you don't use bird shot to hunt Bear . We need the options that this overall System provides to stay focused on our goal to make profits. Just don't lose the ultimate goal of learning to hold those longer term trades.
Great Trading To All Ken
Good Trading To All ; Ken Lee
  • #27,798
  • Dec 15, 2009 7:47am Dec 15, 2009 7:47am
Quoting kodziro
Hi.
I got questions about 2 signal that I marked on the picture.
First it was a test of previous price action ( shooting star and 50 fib ), plus 10 EMA and 200 SMA held. Second 5 o`clock trade. So technically looks good. But I see also :
1 - long bullish shadows rejecting area of PPA .
2 – I didn’t see chance to set tight SL .
Should I trade this two setups ? If yes, what SL should I pick ?
When taking trades away from the MA's the place ment of stops is usually dictated by the other MA's . Place them the otherside of either next ma or the next major ma. like a trade off the 10 stop could be behind the 21. But as we have major ma's in the area we might as well use them to our advantage. Also on candle A I think you have it on your chart also a very faint line which is the 62 ema. Plus I have a resistance line there myself off a daily chart. 1.627* area. But as I stated any trade on a news candle has great risk just be aware of that risk.
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Good Trading To All ; Ken Lee
  • #27,799
  • Dec 15, 2009 2:21pm Dec 15, 2009 2:21pm
Very tough trading day for me.. Not sure if it is because of the ranging going on.. My trouble started around 11:00 EST. The 10:00 1hr closed bullish and the 4hr was bullish so I was looking for a retest to go long. The 11:00 15min retested the 21ma so I went long and the price went the other direction. This system hasn't been coming easy to me. How did everyone else do today?
Cap
  • #27,800
  • Dec 15, 2009 3:02pm Dec 15, 2009 3:02pm
Quoting The Captain
Very tough trading day for me.. Not sure if it is because of the ranging going on.. My trouble started around 11:00 EST. The 10:00 1hr closed bullish and the 4hr was bullish so I was looking for a retest to go long. The 11:00 15min retested the 21ma so I went long and the price went the other direction. This system hasn't been coming easy to me. How did everyone else do today?

Another view
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Good Trading To All ; Ken Lee
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