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Ken's Continuing Successes with EO's system

  • #261
  • Feb 3, 2010 8:03am Feb 3, 2010 8:03am
Quoting KENNETH lEE
That trade has now moved above and closed above the 62 ema . The next candle came back and retested the 62. Now we jope it stays above there and moves further. My target area for this is 1.6030 area. It may not make that as it is getting late in the rtrading session. But now being over 50 pips up I am willing to give it some room to see. As long as we continue to get closes above the 5 ema.

That is what I look for first as a sign it is running out of steam and may turn . You can see during that last consolidation...

Look at this any questions.
Attached Image (click to enlarge)
Click to Enlarge Name: misc c.jpg Size: 239 KB
Good Trading To All ; Ken Lee
  • #262
  • Feb 3, 2010 8:54am Feb 3, 2010 8:54am
Some Ideas On todays short
Attached Image(s) (click to enlarge)
Click to Enlarge Name: entry off all charts A.jpg Size: 250 KB
Click to Enlarge Name: entry off all charts B.jpg Size: 155 KB
Good Trading To All ; Ken Lee
  • #263
  • Feb 3, 2010 8:59am Feb 3, 2010 8:59am
Anyone notice that the price never closed above the 5 EMA on the run down this morning . Not even when it passed through the 35/50 area.

First close was right at the bottom.
Good Trading To All ; Ken Lee
  • #264
  • Feb 3, 2010 9:55am Feb 3, 2010 9:55am
Hi Ken ,

Thanks for all ur posts ..one more question..what is the preferred SL on a 62 ema trade..is it same as 35/50 a 35 pips SL ?
  • #265
  • Feb 3, 2010 10:04am Feb 3, 2010 10:04am
I would personnally look for about 35 PIps from the 62 ema line. So if you got in at 10 above the line on a great entry stop would be 25. If price gets to 35 past a line it is normally a clean break and may not even retest the line. This is just my view on it. I like to keep my stops as small as possible.

Also keep on your toes with those 62 ema and 35/50 crosses . They at times do nothing more than retest those areas. Like the 35/50 cross on the gbp this morning. It was a good trade but only for 10 pips.

The idea behind these entries is they are normally at Retracement levels and canbe the entry to some very nice trades. look back on your charts and you will see that.

But like all trading nothing works all the time. But if you know what to expect we are ahead of the game.
Good Trading To All ; Ken Lee
  • #266
  • Feb 3, 2010 10:28am Feb 3, 2010 10:28am
yes i see 62 ema working very often Ken..its wonderful..but today was caught up in the GBP trade ...there was nice pin bars supporting the longs which gave me confidence + the TL on 15 min..but it hit my SL...understnd that these are part of any system..n have to move on...
  • #267
  • Feb 3, 2010 10:55am Feb 3, 2010 10:55am
Quoting p1p
yes i see 62 ema working very often Ken..its wonderful..but today was caught up in the GBP trade ...there was nice pin bars supporting the longs which gave me confidence + the TL on 15 min..but it hit my SL...understnd that these are part of any system..n have to move on...
If your talking about the 35/50 and 62 ema trades on the gbp. I don't like how far they had retraced. They did retest the lines but were to far down the previous swings to give me any confidence in holding them.

Try to keep in your mind that Trading Zone i keep showing on the daily. It also apllies to the other time frame charts . especially the 35/50 and 62 ema trades.

I have mentioned in previous post regarding the 35/50 and 62 that pA should look like a check mark .. These one was morea inverted V. Giving instant sight that it is maybe to far down the swing.

Hope this Helps Ken
Good Trading To All ; Ken Lee
  • #268
  • Feb 3, 2010 12:59pm Feb 3, 2010 12:59pm
Yes ken..i sometimes forget to see these things u hav told..i think need more practise ...another thing psychology was a main factor ..and did u take the short from 6060 area..??i was waiting for a retest of the area or atleast half of the bearish candle that opend at 6058 ..but it never did and misd the trade in whole..
  • #269
  • Feb 3, 2010 1:07pm Feb 3, 2010 1:07pm
Quoting p1p
Yes ken..i sometimes forget to see these things u hav told..i think need more practise ...another thing psychology was a main factor ..and did u take the short from 6060 area..??i was waiting for a retest of the area or atleast half of the bearish candle that opend at 6058 ..but it never did and misd the trade in whole..

No, I have been skipping the eur/london latelly.. There was a retest of that 1.6030 area as a secondary entry and then the retestof the high of asia retest as a third entry also the 35/50 retest.
Good Trading To All ; Ken Lee
  • #270
  • Feb 3, 2010 1:31pm Feb 3, 2010 1:31pm
Here is a chart to show those entries.
Attached Image (click to enlarge)
Click to Enlarge Name: entry off all charts C.jpg Size: 232 KB
Good Trading To All ; Ken Lee
  • #271
  • Feb 3, 2010 11:50pm Feb 3, 2010 11:50pm
Quoting KENNETH lEE
Here is a chart to show those entries.
Hi, KEN
thanks for your chart and explaination!
I have 1 question. Any reason why we did not trade 15m35/50 retracement? is it because G/U drop down very fast? or
Dancing with Candlesticks
  • #272
  • Feb 4, 2010 3:24am Feb 4, 2010 3:24am
Quoting iForex
Hi, KEN
thanks for your chart and explaination!
I have 1 question. Any reason why we did not trade 15m35/50 retracement? is it because G/U drop down very fast? or
Hi

Yesterday G/U 35/50 cross trade worked. It was about 10 pips - BE for me. Don`t stick to GU only, at EJ we had also nice oppporutnity to trade 35/50 ( two in London sesion ).

Cheers.
  • #273
  • Feb 4, 2010 6:00am Feb 4, 2010 6:00am
Quoting iForex
Hi, KEN
thanks for your chart and explaination!
I have 1 question. Any reason why we did not trade 15m35/50 retracement? is it because G/U drop down very fast? or

Every trade signal has reasons why it will or will not work. To see those differences is what will help us to progress into better traders. To many people blindlly take every trade and it is where a lot of people mistake mechanical trading from.

If we could take every signal and it worked out every time I don't believe trading would be around long. Someone would write a EA for it and that would be the begining of the end.

Mechanical trading simply means when you have all the parts of a good trade telling you that you have a above average of coming out positive to take the trade don't let emotions get in the way.

Regearding the 35/50 trade yesterday go back and read post 265 and 267. I believe.


But keep asking questions this is how we all learn .. Ken
Good Trading To All ; Ken Lee
  • #274
  • Edited 1:00pm Feb 4, 2010 12:20pm | Edited 1:00pm
well I hope someone was in those yens.. man I really don't like those moves if your not in it is such a risk to get in a short was the way of course now but if you entered to late it retraced 100 pips fast my broker loves to slip fast moves and if I close market it close where they want to . LOL

I was not, I did take a short off the 10 ema after that pin on E/J and got 50 pips before it turned was a possible of over 70 but was happy for that .
Hope you guys are making some too..

Trade Happy ken

sorry it was the 5 ema not the 10 ..
Good Trading To All ; Ken Lee
  • #275
  • Feb 4, 2010 4:28pm Feb 4, 2010 4:28pm
I tried that short one more time on the e/j couple mini doji's right at the same level. Had to go to the store so closed with a whooping 12..


Note to self.. Set stop and tp's The retest of the 122.06 line was what I had thought may happen and it did.. Oh well
NEXT !!
Good Trading To All ; Ken Lee
  • #276
  • Feb 4, 2010 4:39pm Feb 4, 2010 4:39pm
Quoting KENNETH lEE
well I hope someone was in those yens.. man I really don't like those moves if your not in it is such a risk to get in a short was the way of course now but if you entered to late it retraced 100 pips fast my broker loves to slip fast moves and if I close market it close where they want to . LOL

I was not, I did take a short off the 10 ema after that pin on E/J and got 50 pips before it turned was a possible of over 70 but was happy for that .
Hope you guys are making some too..

Trade Happy ken

sorry it was the 5 ema not the 10 ..
Nice trade Ken. I was in UJ with 35/50 cross trade ( early london sesion ) but sadly didn`t catch that big move later. ( I should left some amount of position ). However got my daily pips so can`t complain.

Cheers.
  • #277
  • Feb 4, 2010 4:45pm Feb 4, 2010 4:45pm
Quoting kodziro
Nice trade Ken. I was in UJ with 35/50 cross trade ( early london sesion ) but sadly didn`t catch that big move later. ( I should left some amount of position ). However got my daily pips so can`t complain.

Cheers.
Nice, way to go.. I can't really see that trade, But if it worked for you ..

probably the breakout and retest ..
Good Trading To All ; Ken Lee
  • #278
  • Feb 4, 2010 5:22pm Feb 4, 2010 5:22pm
Ken, would you please tell me where I can find the pdf that you compiled? The One at EO's Post #1 isn't it.

Thanks.
  • #279
  • Feb 4, 2010 5:28pm Feb 4, 2010 5:28pm
Quoting mary4x
Ken, would you please tell me where I can find the pdf that you compiled? The One at EO's Post #1 isn't it.

Thanks.

It is there or on the frist page of this thread as well. Ken
Good Trading To All ; Ken Lee
  • #280
  • Feb 4, 2010 5:49pm Feb 4, 2010 5:49pm
Quoting KENNETH lEE
Nice, way to go.. I can't really see that trade, But if it worked for you ..

probably the breakout and retest ..
Entered with hangman ( with higher open than previous candle ).
Attached Image (click to enlarge)
Click to Enlarge Name: uj3.jpg Size: 153 KB
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