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Ken's Continuing Successes with EO's system

  • #201
  • Jan 24, 2010 8:51pm Jan 24, 2010 8:51pm
Quoting Jack B Pip
Hey Ken,
Thanks for these type of updates. Only one trade tonight for me....traded the opening gap in EUR/JPY 45pips. Watching the football game tonight and studing your thread.
thanks
Jack
Hi, Congratulations!
Can you explain this trade in details ? like when and why you took the trade.
thanks
Dancing with Candlesticks
  • #202
  • Jan 24, 2010 10:10pm Jan 24, 2010 10:10pm
This was what I trade last Friday, can anyone give me some advise. Appreciate your help, thanks.
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Dancing with Candlesticks
  • #203
  • Jan 25, 2010 2:11am Jan 25, 2010 2:11am
Quoting iForex
This was what I trade last Friday, can anyone give me some advise. Appreciate your help, thanks.

Here is the 1 Hr chart from the same time of your entries . It is good to take a glance at thr higher time charts . To see if they support your thoughts.. Especially when you are breaking through Large MA's because as you saw the signals can be misleading then.
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Good Trading To All ; Ken Lee
  • #204
  • Edited 6:36am Jan 25, 2010 3:43am | Edited 6:36am
Hello.

Another example of 35/50 cross (EJ). This time entry wasn`t so perfect like last time. But again it worked.



edit: Leter on GU today`s 35/50 cross also win.
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  • #205
  • Jan 25, 2010 6:40am Jan 25, 2010 6:40am
Quoting kodziro
Hello.

Another example of 35/50 cross (EJ). This time entry wasn`t so perfect like last time. But again it worked.



edit: Leter on GU today`s 35/50 cross also win.
Very Nice Good Going
Good Trading To All ; Ken Lee
  • #206
  • Jan 25, 2010 7:58pm Jan 25, 2010 7:58pm
Hey Ken,

Just found your new home. Hope trading is going well for you and you aren't getting lonely over here. I won't be a stranger, and will stop by as I still hope to learn from your great analysis'. Hope all is well!
Cap
  • #207
  • Jan 26, 2010 12:32am Jan 26, 2010 12:32am
Quoting kodziro
Hello.

Another example of 35/50 cross (EJ). This time entry wasn`t so perfect like last time. But again it worked.



edit: Leter on GU today`s 35/50 cross also win.
Hi, kodziro
Great trade, and thanks for sharing!
Can you please share with me or us how you get that 4h PPA line?
Dancing with Candlesticks
  • #208
  • Jan 26, 2010 12:34am Jan 26, 2010 12:34am
Quoting KENNETH lEE
Here is the 1 Hr chart from the same time of your entries . It is good to take a glance at thr higher time charts . To see if they support your thoughts.. Especially when you are breaking through Large MA's because as you saw the signals can be misleading then.
Hi, KEN
Thanks for your kind explaination! appreciate your help!
I think I need more practise and patience!
Dancing with Candlesticks
  • #209
  • Jan 26, 2010 4:39pm Jan 26, 2010 4:39pm
Hi Ken! I'm still learning the strategy. I find your ideas very interesting. What i prior right now is to learn the entries thou. After that i will put myself deeper into the money managements and you ideas.
Thanks.
  • #210
  • Jan 26, 2010 9:19pm Jan 26, 2010 9:19pm
Hi ken,

How are u doing? Was reading ur thread in babypips... now here also... just want to say a big thanks for ur effort... hope ur trading is going on well...
  • #211
  • Jan 26, 2010 9:19pm Jan 26, 2010 9:19pm
Quoting givduL
Hi Ken! I'm still learning the strategy. I find your ideas very interesting. What i prior right now is to learn the entries thou. After that i will put myself deeper into the money managements and you ideas.
Thanks.

Just remember the entries are mostlly off the 15 MIN chart. and are just entries. Which we hope are the start of major moves. Once you see a possible entry glance at the higher charts then take it,Then as it moves watch the higher to see if it becomes better and supported by the higher charts.

Example I took a trade off a 15 Min gbp chart today. It bounced between negative and positive for 30 or 40 minutes. But once the 1 HR closed as a pin. It continued in the right direction and ended as a decent trade. It was afternoon and price was consolidating . But we get that all the time . because as soon as that 1 Hr closed different traders now become interested.

But we don't want to always wait unless we are unsure, as it can and does move into profit quickly off the 15 min as well. The retracemant trades 35/50 and 62 ema touch are two that come to mind. They at times don't even wait for the candle to close before they take off. But it will become clearer as you go along.
Good Trading To All ; Ken Lee
  • #212
  • Jan 27, 2010 3:55am Jan 27, 2010 3:55am
yes i was thinking about that. Lets say i took an enry on the 15 min chart and I am in big profit. Then the 15 min chart gives an entry in the oposit direction. But at the same time i get mayby a pinbar on the 1 hour chart in the directin I am in. I guess i would keep my position open then? Since I'm in a big profit potential trade, risk free.

Yes it is already very clear actually. I've read the manual two times veeeeeery slow. And everything makes sense. It really gives the whole picture.

Quoting KENNETH lEE
Just remember the entries are mostlly off the 15 MIN chart. and are just entries. Which we hope are the start of major moves. Once you see a possible entry glance at the higher charts then take it,Then as it moves watch the higher to see if it becomes better and supported by the higher charts.

Example I took a trade off a 15 Min gbp chart today. It bounced between negative and positive for 30 or 40 minutes. But once the 1 HR closed as a pin. It continued in the right direction and ended as a decent trade. It was afternoon and price was consolidating...
  • #213
  • Jan 27, 2010 5:01am Jan 27, 2010 5:01am
Quoting givduL
yes i was thinking about that. Lets say i took an enry on the 15 min chart and I am in big profit. Then the 15 min chart gives an entry in the oposit direction. But at the same time i get mayby a pinbar on the 1 hour chart in the directin I am in. I guess i would keep my position open then? Since I'm in a big profit potential trade, risk free.

Yes it is already very clear actually. I've read the manual two times veeeeeery slow. And everything makes sense. It really gives the whole picture.
Yes and the 15 Min could be going back a little ways into the wick offthat pinbar or it could fail as a entry but looking at Price Action around that area you could possibly see. That your at a area that a small retracemnet up that wick makes sesne. So it could be a good place to cover your trade and you could add it back up the wick when you get a confirming entry on your 15 min again.
Good Trading To All ; Ken Lee
  • #214
  • Jan 27, 2010 6:40am Jan 27, 2010 6:40am
Hi Ken,

I read your chart and description (How to trade big 3) from a couple of weeks ago.

And also this part from the book. ;-)
"The key is to use the profits you are making in the same trade to compound your gains. Just as you might trade a higher amount after a weeks gains, you can trade a higher amount after your trade has developed and has proven itself. The best trades to do this on of course are the ones that change the trend and have great movements. This happens time and again though."

Can you give an example (maybe with pips and position size) of how to manage a trade with taking profits and adding back to the position and even increasing the position size during a successful trade while keeping risk the same.

Many thanks for your brilliant work here in the thread

tdeu
  • #215
  • Jan 27, 2010 8:00am Jan 27, 2010 8:00am
I will try to post something later but look at the 4 Hr on the e/j you can see if you could have manged to to hold a short on it . you could just have been adding and taking profit for the last 2 weeks. Never touching your original equity. This is the goal if only a daily or weekly basis.
Good Trading To All ; Ken Lee
  • #216
  • Jan 27, 2010 4:30pm Jan 27, 2010 4:30pm
Ken I'm a little bit confused about how much we have to trade with the trend. If the daily shows that we are trending short, does this mean that we only takes short? And that all the other charts has to be short?
  • #217
  • Jan 27, 2010 5:18pm Jan 27, 2010 5:18pm
Quoting givduL
Ken I'm a little bit confused about how much we have to trade with the trend. If the daily shows that we are trending short, does this mean that we only takes short? And that all the other charts has to be short?
No, not in the sense you would usually do it in other systems. The higher time frames are looked at for S/R areas, thats the monthly, weekly, daily and down the line. We look at those s/r areas so that we can keep in mind where price may be likely to turn and then look for signals on the 15min which might back those up.

For instance, taking today as an example, as Ken said in the last post, EJ has been in a downtrend for the last couple of weeks, but if you look at your monthly or weekly charts, there was quite strong support in the 125.29 area, which is where it reached today. So even though EJ is in a downtrend on just about all timeframes when price reached that area today and the candle patterns showed a likely move back up, you would have taken it.
  • #218
  • Jan 27, 2010 5:35pm Jan 27, 2010 5:35pm
thank you for the explanation. If we for some reason feel like short and we get that signal on 15M, BUT on som of the higher time frames the price is right above some slower MA ( which is floating support), then i guess we wait for a breakout first?
Quoting luckylady
No, not in the sense you would usually do it in other systems. The higher time frames are looked at for S/R areas, thats the monthly, weekly, daily and down the line....
  • #219
  • Jan 27, 2010 5:36pm Jan 27, 2010 5:36pm
Quoting givduL
Ken I'm a little bit confused about how much we have to trade with the trend. If the daily shows that we are trending short, does this mean that we only takes short? And that all the other charts has to be short?

Luccky Lady answered. very well. You don't have to ever trtade with the trend. It is your choice, But that isn't the question is what trend are you talking about ? There are all kinds of trends. Each time frame chart has it's one tend. The are Standard. mini and micro trends some people even trade 5 and 1 Min charts.

Here is PDF that explians trends a little better. I am not syaing use this for trading but is a nice system showing the different trends.
Attached File(s)
File Type: pdf Forex Scalping.pdf   1.8 MB | 8,263 downloads
File Type: pdf Forex surfing.pdf   1.0 MB | 2,945 downloads
Good Trading To All ; Ken Lee
  • #220
  • Jan 27, 2010 5:42pm Jan 27, 2010 5:42pm
What I am personnaly trying to do . Is take trades at known levels. S/R off the 4hr and Daily charts. then watch the 1 HR to see if it starts to agree with the trade if it doesn't I will look to get out with a scalp. If it does I will hold for greater profits.

But you can get long signals that are against a higher time frame short signal. A pin on a higher can have room for a trade up the wick. Depending on the wicks length it could be 2 or 3 15 MIn candles. It is knowing that this can happen that makes us have a edge. If it was a4 HR pin than it can be 2 or 3 Hr candles . But when we find ourselves up those wicks or at a entry zone area. Then we know we need to go with the trend not fight it. If we have the same trend on all charts and get a entry that is the best we can ever hope for.
Good Trading To All ; Ken Lee
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