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Ken's Continuing Successes with EO's system

  • #21
  • Jan 18, 2010 3:25am Jan 18, 2010 3:25am
Quoting kodziro
Hello.

My 2 setups, first with asian open, second with European/London open.
Ken what do you think about second one ?

That is a nice hangman you took with PPA confirmation.That 1 HR hangman is still in play with that short as it hasn't had a close above it.

The taking of profit on that wick was ok, You can see that it touched the 10 sma. But also crossed the 35/50 area 15 Min. Even the best traders of this system take profit at the MA's when trading back into them. As you know a 35/50 is a reversal trade and sent price back up.

So Good trading. Ken

Note To Everyone ;

Not every trade is going to give mega pips. It is learning when to take what is offered at a reasonable place that grows accounts. You can hold any trade until it goes negative. Never feel bad about taking profits. If you leave some on the table you will learn why soon enough and be getting them as well.
Good Trading To All ; Ken Lee
  • #22
  • Jan 18, 2010 3:35am Jan 18, 2010 3:35am
Quoting Deputy Dawg
Hello Ken,blimey nearly went to babypips hehe,are you going to stop posting on the thread on babypips and just concentrate on this new one here ?

Anyways,just wanted to say,you'll be missed,and am sure lots of the guys from Eo's thread will have a Tab open to here too,I know I will.

Thanks for the good work you did there,and keep it up here too will ya.

Yes I have left a note on Baby Pips that this is the new Home.. The chart attachments don't work as well there and I think this is just a better forum for this as not really begginers stuff.
Good Trading To All ; Ken Lee
  • #23
  • Jan 18, 2010 3:41am Jan 18, 2010 3:41am
I am off for my morning Bicycle ride around the island.. Watch the gbp. May print a DBHLC or Harami (IB) on the 1 Hr. plus forming a pin on the 4 hr. This is all specualtion right now as it is NOTHING till it CLOSES. But This is our goal watch all the charts.
Attached Image (click to enlarge)
Click to Enlarge Name: DBHLC.jpg Size: 150 KB
Good Trading To All ; Ken Lee
  • #24
  • Jan 18, 2010 4:45am Jan 18, 2010 4:45am
Hi Ken,

good to see you back. I'll follow your thread.

Happy trading
  • #25
  • Jan 18, 2010 7:40am Jan 18, 2010 7:40am
Hi Ken

As you say, managing a trade is important and can be difficult. Here's what I did so far: short @ .63471 (1st vertical line), sl slightly above hammer. closed half pos at 2d vertical line for 24 pips profit and moved sl to entry. Now I'm a bit at a loss what next. Wait for 62 on the 1h? Thanks for helping.
Attached Image (click to enlarge)
Click to Enlarge Name: bp 2010-01-18 15m (2).gif Size: 26 KB
  • #26
  • Jan 18, 2010 7:40am Jan 18, 2010 7:40am
Hello Ken

I am glad to see you still doing your work ad I am glad to find it. I guess change is not always a bad thing so congradulatios on your thread!! I did hate to see you move away from EO's thread but sometimes "you gotta do what you gotta do".
Please ask questions and share your experiences with us all!
  • #27
  • Jan 18, 2010 7:42am Jan 18, 2010 7:42am
Quoting AnonYmos
Hi Ken

As you say, managing a trade is important and can be difficult. Here's what I did so far: short @ .63471 (1st vertical line), sl slightly above hammer. closed half pos at 2d vertical line for 24 pips profit and moved sl to entry. Now I'm a bit at a loss what next. Wait for 62 on the 1h? Thanks for helping.
Actually shouldn't be "Hi Ken" but "Hi Everybody"! Excuse me!
  • #28
  • Jan 18, 2010 7:45am Jan 18, 2010 7:45am
Quoting AnonYmos
Hi Ken

As you say, managing a trade is important and can be difficult. Here's what I did so far: short @ .63471 (1st vertical line), sl slightly above hammer. closed half pos at 2d vertical line for 24 pips profit and moved sl to entry. Now I'm a bit at a loss what next. Wait for 62 on the 1h? Thanks for helping.

I know you also noticed you have a Shampoo (Head and Shoulders) on the 15 min which couls send it far . The first hurrdle is that 200 sma. It has just closed below yesterday high which is good. Now the 200.
Attached Image (click to enlarge)
Click to Enlarge Name: 12j Head and Shoulders.jpg Size: 199 KB
Good Trading To All ; Ken Lee
  • #29
  • Jan 18, 2010 8:08am Jan 18, 2010 8:08am
now to see if it just retest the hign from yesterday are is heading back up. Like to see it close below it agian for more down movement

Note to Everyone; These are the choices we all have to make for ourselves do we risk losing some to make more or do we take the profits then hope to re-enter a little further on.
Good Trading To All ; Ken Lee
  • #30
  • Jan 18, 2010 8:13am Jan 18, 2010 8:13am
Quoting KENNETH lEE
now to see if it just retest the hign from yesterday are is heading back up. Like to see it close below it agian for more down movement

Note to Everyone; These are the choices we all have to make for ourselves do we risk losing some to make more or do we take the profits then hope to re-enter a little further on.
Hi Ken,

Still short GU and EJ, looking for the break of the low of asian session.
Trade with the momentum
  • #31
  • Jan 18, 2010 9:51am Jan 18, 2010 9:51am
Thank you Ken for starting this thread . Your comments have always been helpful - I was surprised you cannot continue it on the EO thread. Keep the great job.
  • #32
  • Jan 18, 2010 10:12am Jan 18, 2010 10:12am
Hi Ken!

Hope you're at least peeping into the trade-what-you-see thread now and then. They really miss you there. Also worth noting EO's post on the matter #2939)

Fully aware that this is none of my business but imho it's awkward we now have 2 threads dealing with the same method.
  • #33
  • Jan 18, 2010 11:04am Jan 18, 2010 11:04am
Quoting AnonYmos
Hi Ken!

Hope you're at least peeping into the trade-what-you-see thread now and then. They really miss you there. Also worth noting EO's post on the matter #2939)

Fully aware that this is none of my business but imho it's awkward we now have 2 threads dealing with the same method.

I don''t know what to say to you guys. It is his system when he is there you can get no better training. But I can't except that it is ok to be attacked in private.

By the way there was no crying lots of anger maybe .

If you choose not to glance in here I understand. But I also know that a lot of his students get left behind because no one wants to explain things in a simple detailed fashion.

I am know way competeing with him or his thread if you have to make a choice of one or the other I would pick his.

Thing is it isn't even about calls I have been in different rooms with call signals I never take them . But if you can say I see this and that candle formed maybe a good entry. Then I see the same thing is priceless. But I took it off what I saw. They just may help me learn to see.

This is my goal here. Period. To help each other see.

It is strange though out of all the people that have been in the thread since when I started less than can be counted on one hand have gotten it. Yet my short comings get dragged out in the open. There are many trades using this system. The best are the longer term. But almost everyone works up to that level. Unless your coming from long term trading to start.

I don't want to debate this. If what I was doing was not helping anyone I should have been aproached on the thread. I had already admitted and started to move more to the complete analysis of all the time frames, But was and will always help with entries off any time frame if asked.

This is my last comment on this subject. It is not a challenge. I stand by my choice and have no regrets. Life is to short for this crap.


Ken
Good Trading To All ; Ken Lee
  • #34
  • Jan 18, 2010 11:26am Jan 18, 2010 11:26am
Quoting KENNETH lEE
I don't want to debate this. If what I was doing was not helping anyone I should have been aproached on the thread. I had already admitted and started to move more to the complete analysis of all the time frames, But was and will always help with entries off any time frame if asked.

This is my last comment on this subject. It is not a challenge. I stand by my choice and have no regrets. Life is to short for this crap.


Ken
Greatest respect Ken. Hopefully everyone will get the message and now move on to better trading , here, there or both.
" When the ship starts to sink, don't just pray. JUMP "
  • #35
  • Jan 18, 2010 12:13pm Jan 18, 2010 12:13pm
Chart of the GBP/USD, 15 Min top , 1 Hour Middle and 4 Hour Bottom

4 Hour the first circled area is a hammer from Friday. Not sure of the overall reliablitity of that signal for sunday night . But we can see at least last night it played out and price went long.

The second area is the 2 green arrows showing longed wicked candles not near a extended top so could be considered hammers for longs, But I would look for further confirmation and in this case the 1 Hr. leads the way.

C is a shooting star . We could wait for this signal and it provided a nice trade of 50 pips if entered up the wick.

1 Hour ; Area B is a DBHLC but a Harami or IB, instead of engulfing. I am saying this as EO calls them that. Traded the same way. The top green arrow of area B is the 7:00 eastern asia open candle. We can see it pushed price down. But then we get the DBLHC. The entry is after the next green candle closes.

Area A, 62 ema touch trade. You can see why it is called a touch trade. If you waited aloss of 30 pips or so. It is a retracement trade so price should continue in it's uptrend. It also is at the 62% fib level. and a daily S/R area. very safe indeed. and nothing lower since.

Area C Shooting Star We have a shooting star signal but nothing off the 4 hr. yet. to wait for the 4 Hour to print cost only 10 Pips. But between the 1 Hr. and the S/R area 1.6378 and the PA at the top on the 15 may have taken it before the close of the 4 Hr.

15 Minute Area B Asian open The safe trade would been to wait fro the 8:00 candle to close completeing the DBLHC / IB. The las candle closed right above the 62 ema. a long stop below the previous candles plus 5 pips.Never cam close. A riskier option was the inverted hammers 2 in a row.with higher lows. This trade could have been the set it forget it trade as you can see.

Area A is the 62 ema touch trade. We should have covered our trade
from C either when it touched the 200 sma by closing a portion of it. The best traders just close what it will cost them to have taken the trade. But normally want move their stop until a good distance has been coverd 30 or 40 pips. Unless against the trend. Because as you can see if you moved to break even or a +2 might have got stopped. At this point you can add back to your trade either what you have taken off or a bit more. As soon as it moves from this area then your stop can be adjusted.
If this is your first entry stop will be below the 62 ema no more than 35 Pips. I use less around 15 or 20. But that is the system.
The white circled Candle is your secondary entry if you came to the party to late. You can still join off this candle a retest of the 35/50 and a 1:00 o'clock trade.

Area C The shooting star. large wicked candle then shooting star then a hangman then another hangman. Plus Resistance area. The 1 Hour shooting star entry provide a no drawdown entry with confirmation of 15 Min pa and S/R area. A earlier entry of the 15 Min could have seen a bit of draw down . Making some stress.
We should have considered closing a large portion of our other trades here with all this confirmation of a turn. or all then a short. Unless we can enter short from another account or hedge if in the UK.
Attached Image (click to enlarge)
Click to Enlarge Name: GBP 01 18.JPG Size: 340 KB
Good Trading To All ; Ken Lee
  • #36
  • Jan 18, 2010 12:37pm Jan 18, 2010 12:37pm
As you can see above. There was basiclly one longer trade off the 1 hr nad better charts per session. But there was a lot of secondary entries and scalpmpossiblities also. You also want to ask yourself are the best traders waiting for those 1 hr and 4 hr candles to close. If so how are they getting the top to the pip.

That doesn't matter to us. We can use this information in two ways . We see it and we have a better view of where price is headed. We do use it to look for entries after it has printed.

PLus we use it to manage trades we are in off faster time frames. Say you took a trade on the Asian open than we get that DBLHC /IB we woudl thing haey this is turning. We could close and look for that long entry.

Or if it is a continuation signal you will know to ride it out for greater profits.

This will all become clearer as we go. I am still sorting out the best way to post the chart showing everything we want to see. But this is the goal see it all then make good choices.

You could see price turning at the top but your unsure to take it . Then the 1 Hr prints that shooting star . That should give us the push we need to take it safelly.
Good Trading To All ; Ken Lee
  • #37
  • Jan 18, 2010 12:43pm Jan 18, 2010 12:43pm
I don't want to step on any toes or anything here but I think that if people posted their trades and explained why they took the trade it would be of much more benefit to folks than looking at things after the fact. Just my 2 cents for whats its worth.
  • #38
  • Jan 18, 2010 1:05pm Jan 18, 2010 1:05pm
Quoting endroute
I don't want to step on any toes or anything here but I think that if people posted their trades and explained why they took the trade it would be of much more benefit to folks than looking at things after the fact. Just my 2 cents for whats its worth.
My main focus to take trades based off all the avaiable information. I will give calls of what the charts are showing . Then based of what people have learned reading the sysytem plus the backup of sheets I will post make their own choices if people want to post theie entries and trade management that is fine.

But until I feel I will not lead people in the wrong direction I will hold off on that. But we should all get to that point soon enough.

We will pick Areas
We will Talk of PA taking Place
We will Notice the Candles sticks and patterns that matter
We will talk of where and when to cover and mangae the trades.
We will not say enter here or take profit here that is not learning.
Good Trading To All ; Ken Lee
  • #39
  • Jan 18, 2010 1:06pm Jan 18, 2010 1:06pm
Quoting endroute
I don't want to step on any toes or anything here but I think that if people posted their trades and explained why they took the trade it would be of much more benefit to folks than looking at things after the fact. Just my 2 cents for whats its worth.
you mean post immediately after the trade is taken instead of waiting until situation has devlopped?
  • #40
  • Jan 18, 2010 1:28pm Jan 18, 2010 1:28pm
Quoting KENNETH lEE
if people want to post theie entries and trade management that is fine.
But would you comment on these posts? Even if they came immediately before or after the trade. Or would you feel responsible for what ppl are doing then? Asking because I'm posting in order to get comments. And I like posting while things are happening. I think, that's what endroute meant. Hindsight analysis jsut has a different quality.
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