Ken's Continuing Successes with EO's system

thx. I'll read those when i get time.

Here is a section of that PDF .. With diagram ..



In "Forex Surfing" I showed you the above diagram explaining that there are
trends within trends within trends. Well if you look at the bouncing green line
you notice that it goes up, then it goes back down along the blue shorter
uptrend line. Guess what, that tiny up and back down movement which might
have seemed relatively insignificant from the perspective of a larger chart
represents a complete uptrend and a complete down trend!

here little more explanantion

No pips but here you go each trade would be different anyway as it is levels and areas not set pip amounts.. Hope this helps .

Hi, KENNETH lEE
Say hello and thank u

My todays`s short positions. I closed them with full positions. ( done for today )

Very nice, It didn't give much but you got what it did without to much stress. Very Good

Made a few notes on Kodziro's chart . Might make it easier to see things sometimes.

Hi Ken,

Can you give me an insight on what jus happened on GBP /USD . Any ways to anticipate the big break downwards..??or was it due to any news ?..saw geithner speaking is it bcos of that??

Sorry so late ... Ken

(IGM)[S&P - ON UK BANKS] S&P has made some fresh comments on the UK banking...

[S&P - ON UK BANKS] S&P has made some fresh comments on the UK banking system, which may be new in terms of when published but essentially look like they are well after the horse has bolted (and completed several Grand Nationals). The agency said it no longer classifies the UK among the most stable and low-risk banking systems globally - but somewhat surprising now given the govt's 84% stake in RBS & 60% odd share of Lloyds Banking Group. S&P also thinks the weak economy will hinder the credit profile of the banking industry, and without saying anything too profound said it expects the unwind of high debt levels will weigh heavily on economic growth, banks' and financial performance. [STG] has pared gains on this (why?) but probably more on general dollar strength & risk aversion, [CABLE] to 1.6170, 0.8635/Euro.

whr did u get this news Ken..didnt see anything on bloomberg..if you can u throw some lights on the tecnhical aspects of that move..it wil be greatly appreciated..

The news is just part of GFT's Platform. It was from IGM also downewswire. It was all over the nes though some other people mentioned it to me before I saw it.

Thnx for that Ken..Cheers..

Here is a good example of a 1:00 trade entry. using the retest of the london sesion high as confirmation . This is one of EO's favorite entries. Retesting the previous sesions high or low. Also showing a asian drift trade. It is these trades That if we start to take them regular can be stress free. Just set it get covered then let it work .At the worst you make what you covered with.

Did you notice this on the 4 HR E/J ?
Did you notice the first hammer ? why wasn't it as good ? You could have gotten some pips out of it but it wasn't a real turn . What gave us a idea that it may not work out ?

Something else to think about ?????

They both had already retraced into our trading zone. But the first was still within the zone when the last candle closed the second was below the trading zone already. have to keep a eye on this to see if it is consistent enough to use.

<<The following message also post on the original thread.>>
First and formost, Thanks! EOhater, KENNETH LEE, PippiNole, Infinity, Luckylady and all.
My name is iForex, I am a part time Forex trader, this is my second month of using EO's strategy, the result is quite good to me, I am satisfied with it.
I know it is peanut to those seniors, but I also know I will make progress with those senior's very kind help!
FYI, I have a few years part time forex trading experience, sometimes I gain, sometimes I lose, never get contenious profit. And to be honest, my firt month trading result using this strategy was bad, the profit was minus.

Account A (main account)
Monthly Gain: + 7.0% (+200 pips)

Account B (small account)
Monthly Gain: +57.2% (+473 pips)
You can view the report from myfxbook, click here

My weakness:
1) No patience to wait for the best entry point!
2) Can not hold a trade to get maximum profit, my average win is only 18.7 pips.
Please give me some advise to overcome those weakness! thanks！
Hope my next month report will be better!

http://cdn.forexfactory.com/attachme...5&d=1264832320

Thanks for sharing glad to hear your progressing this is all anyone can hope for. Looking over your report. The first thing that that stands out is that your average losses are greater than your average wins. Even if you never get anything but 18 pip wins. That one thing will keep you from where you want to be. Plus you show one lose of 64 pips. Doesn't take many like that to mess up your gains . Because you then have to make at least three positive trades to gain back that loss.

I now your thinking I know all these your not telling me anything new. This is correct. But you hear it on every traders website and it is just as true here . Cut your losses short and let your profits run. If your stops are averaging that high. Could be you only have a few bad trades but your not giving up soon enough.

I was already planning to show how I am attacking the problem of not holding the trades longer . I have been showing the basis of it over the last few weeks . I have mentioned a couple of my trades where I have used some of these ideas. I have been in the same place as you and even worst. I have made up to 40 trades a day with a average of 5 PIPS. But only 1 or 2 loses of about 10. But this isn't how I want to trade . I am after the 100 pippers like everyone else.

I think your results are great you are onnthe right path. If nothing else as you kep seeing yourself leaving profits on the table. You will start to hold a bit longer each time. Plus if you scale out of your trades and let some run knowing you have booked some gains already that is a painless way of progressing from where your at.. BUt work on either better entries if needed or tighter stops, That alone would increase your ballance.


Way to go.. Ken

PS
I will have some post later that may help stay tuned ..

I believe that there are a good many people studying this system. That can use it to a point and then hit a wall. Not being able to achieve the goals that higher gains per trade can give. I can use the information here to scalp trade very well even getting more pips now than I did in the past. I think most people here can see types of trades they have taken in the past and the addition of some of this information can just improve a idea they had been trading in the past.

But the ultimate goal and main idea behind this system is to extract as much profit as we can from the market. Some find it easy to just take long trades thinking every entry is a 100+ pipper. But can have that idea lead to a fault becuase when they don't they give most are all of it back. Some like myself feel more comfortable just taking instant gratifacation trades grabbing what we can quicklly and not have to stress over it anymore.

With proper Money Management either one can make lots of money from forex. A lot of people do. The best though are able to combine both types of trading into a total system. In the past I have posted many charts showing 15 Minute entries .

With the start of the new year I had posted we had to have a shift in our thinking to move our trading to the next level. I have been showing over the last few weeks the interaction of the Higher time frames and the lower time frame charts. To help us to start to look at them prior to taking trades but even more so after we get into trades.

The 15 MIn entries stand alone as good ways to get into our trades. If we are at a S/R level and we start to see PA then we get one of our entry triggers. We should always take it. Because just like the 15 min chart we first get PA then it forms a signal. To get a signal on the 1 HR requires PA and a signal off the 15 Min first. There are times when it may not be clear on the 15 MIN. Like times of consolidation. Then we may even get a clearer signal off the 1 HR. The same holds true off the 4 HR. We can sometimes not have calrity on all the lower but the 4 Hr can show a very clear picture. The best of course would be when all the time frames are in agreement.

But the majority of the time we will get a entry off the 15 Min chart. Then we will see a entry on the 1HR. and finally if it is a real good move the 4 HR will show the same direction.

To use this to take bigger gains. Once we are in a trade. We start watching the next time frame chart. If it closes and is supporting our trade. We should not have any issues staying in the trade. The hardest times to do this is if we got in very early. I took a entry off the 15 Min the other day. The price bounced around for 45 minutes until the 1 HR closed supporting the move then price made a nice move in the correct direction.

I believe if we really watch our trades unfold. Good or bad. We will find that price is finally moving with us or against us At the close of the next time frame candle. Lets us say we took a bad trade. But it isn't that bad still within our limits. So we are holding it hoping it will go our way, But the 1 Hr closes and then it jumps against us 20 or 30 pips to another level. The same that happened if it was supporting our trade.

The reasoning behind this is the fact that we probablly have more money traded off the 1 and 4 Hr entries than off the 15 MIN. So when those candles close showing a signal it causes nice jumps for or against. So if we are in a holding pattern waiting for the price to move and we notice that the 1 HR is looking to close giving a signal against us . IT might be in our best interest to close for a lessor loss.

In this same token we will use the same inforamtion to extend our gains once we get our higher close that supports our move. WE can then cover and go for larger gains.

I will be posting charts showing some of these facts later . My broker does maintenance on Saturdays.