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Ken's Continuing Successes with EO's system

  • #541
  • Apr 12, 2010 11:53am Apr 12, 2010 11:53am
Green..... by about 2 pips.

I am not sure the 62 is reacted the way it normaly does, but it looks like the 15m 200 is holding things up..... for now at least.

Might be looking at some higher lows, but to early to say really..... and of course .....we have a 1 AND a 4 hr candle close.

Interestingly Ken - I got to your epiphany a few pages back about the closing of hte higher timeframe candles. Its a question I asked a while back in EO's thread but I think its more relevant than it was intimated at there.

Lee
  • #542
  • Apr 12, 2010 12:04pm Apr 12, 2010 12:04pm
Remember the 200 on the 15 equals the 50 on the 1 hr ,, which adds another group of traders to the mix
Good Trading To All ; Ken Lee
  • #543
  • Apr 12, 2010 12:07pm Apr 12, 2010 12:07pm
yes the gaps can miss up the retracement trades as it pulls the ma's more than normal. the 62 in my book would be better around 1.5310 or so or even lower . But with the gap the ma's have to try and get close to price. It is their job after all.
Good Trading To All ; Ken Lee
  • #544
  • Apr 12, 2010 12:10pm Apr 12, 2010 12:10pm
Yeah... Thats about where I got my entry actualy.

I was thinking about these larger MA's on the smaller time frames last night...... sad I know!

I was setting something up the other day and it was around 6 pips out of where I thought it would be. I then had a candle close which happened to be the 4 hour, thus closing the 1 hour and the 15 min candle. At this point the gap dropped from 6 pips down to 2 pips.

So, it seems that they do match, but only very closely on the closing of the higher timeframe candles.

The example I gave was after some strong moves, so I guess you can factor that in. BUt so many of these trades come from larger moves.

Just wondering now if I should book some profit in at 16 pips. Seems alittle small, but we are struggling to get past this 15m 10.

That said, I wonder if there is any more 'force' behind the clsing of a 4 hour candle than of a 15 min.....ie, I wonder if the 4hr close can push us over the 15min10EMA.

Lee

*EDIT* My explanations were not that clear. I was trying to set up 1hr 62ema and the 4hr 50ema equivalents on the 15minute charts and they were quite someway out..... especially for 'touch' trades.
  • #545
  • Apr 12, 2010 12:13pm Apr 12, 2010 12:13pm
Quoting leemonk
Green..... by about 2 pips.

I am not sure the 62 is reacted the way it normaly does, but it looks like the 15m 200 is holding things up..... for now at least.

Might be looking at some higher lows, but to early to say really..... and of course .....we have a 1 AND a 4 hr candle close.

Interestingly Ken - I got to your epiphany a few pages back about the closing of hte higher timeframe candles. Its a question I asked a while back in EO's thread but I think its more relevant than it was intimated at there.

Lee

Also entered this long,with 200 SMA touch. Got MACD divergence on 15m tf.
  • #546
  • Apr 12, 2010 12:17pm Apr 12, 2010 12:17pm
There are so mnay ways to make money in Forex. WE could do nothing but take trades of the 15 around this lines I have been showing the last few days. Or you can enter only at the lines on the 4 hr and daily with profit targets at the next line on that time frame.

The ones who are doing the best are targeting the higher time frame targets. and allowing some good size swings on the way there. But they are also still entering off the 15 on most trades but do enter right at a area if enough confluence exist.

Being a scalper and trying to overcome the taking of smal gains. I think if we do take entries off the 15 then look at our 1 hr to see if it will support our trade we can start to gain the confidence to let them ride. Also We may wait to enter at times based on the 1 hr.

You can see it time and a gain price just stalling at a area bouncing up and down maybe 10 15 pips. Then the 1 hr will close supporting a move and boom we get a break in the right direction . Because we have added that other group of traders waiting for that candle to close.

Also Comercial traders looking at weekly daily for areas willl use the 1 hr as we use the 15 min. It is all in the recipe but they both make puddin.

These is my view anyway.. So any trade you enter always make it a habbit to glance at your higher charts you find that you just got in a great trade with a great price.

I can't even imagine how many times I have taken 10 or 15 pips to watch price go over 100 .. If you just cover and leave it alone sometimes you can trade better not even being here.
Good Trading To All ; Ken Lee
  • #547
  • Apr 12, 2010 12:17pm Apr 12, 2010 12:17pm
Quoting kodziro
Also entered this long,with 200 SMA touch. Got MACD divergence on 15m tf.
Nice, what do you make of the 15m10ema?

I thought it was a strong close, but it looks like it literaly straddling the 10ema. Not sure what its going to do from here.

I want to close 50% off for PP, but I keep doing that and then it moves.
  • #548
  • Apr 12, 2010 12:19pm Apr 12, 2010 12:19pm
Quoting Kenneth Lee
There are so mnay ways to make money in Forex. WE could do nothing but take trades of the 15 around this lines I have been showing the last few days. Or you can enter only at the lines on the 4 hr and daily with profit targets at the next line on that time frame.

The ones who are doing the best are targeting the higher time frame targets. and allowing some good size swings on the way there. But they are also still entering off the 15 on most trades but do enter right at a area if enough confluence exist.

Being a scalper and trying to overcome...
SPot on Sir!!!

you have pretty much described my recent trading successes/failures over the last week.

Its a massive issue for me. My profits get closed partially early, whereas my losses do NOT!!!

Two trades I took today, one loss and one gain, would both have been good had I used the 1hr, as they were 1hr trades, for PA. I closed early on both because of a little swing the wrong way on the 15m

Lee
  • #549
  • Apr 12, 2010 12:20pm Apr 12, 2010 12:20pm
248 is the 62 and 800 is the 50 but the 800 doesn't work well the 248 does though
Good Trading To All ; Ken Lee
  • #550
  • Apr 12, 2010 12:28pm Apr 12, 2010 12:28pm
Quoting leemonk
SPot on Sir!!!

you have pretty much described my recent trading successes/failures over the last week.

Its a massive issue for me. My profits get closed partially early, whereas my losses do NOT!!!

Two trades I took today, one loss and one gain, would both have been good had I used the 1hr, as they were 1hr trades, for PA. I closed early on both because of a little swing the wrong way on the 15m

Lee
This is why waiting for the correct entries is our number one goal. It allows for many things but first and foremost it is where we cna get our best stop placement without any thinking or deciding to do. It is when you get in abit early or or a bit late that you start having that wiggle room . It could turn here or the nesxt level is only another 5 pips away. Blah Blah Blah. This is why I have posted in the pastlook for the best place for a stop first then try and enter as close to it as possible.

Just like in a consolidation area let us say it should go short like our descending triangle did this morning. So the best entry was as close to the descending trend line as we could get . Would give the best profits and if it crosses and closes above the less loss.

So when your looking to take trades think of how you can preserve your equity. I read recentlly that the main failing of traders is that we don't act in our own best interest.

Just a thought. Ken
Good Trading To All ; Ken Lee
  • #551
  • Apr 12, 2010 12:41pm Apr 12, 2010 12:41pm
I confess, I got weak.

I closed 50% off at the second touch of the 21 (15min). I've moved to +2 and will see what happens.

Another reason I closed it was because it brings me even for today. I took a 15m50ema on EJ earlier that really didnt work out to well....... 20 pip loss.

Not sure on the stops on the 50ema trades.

*EDIT*

Interestingly, if it does run a little we could be looking at a 35/50 cross.
  • #552
  • Apr 12, 2010 12:50pm Apr 12, 2010 12:50pm
I closed a long at the 21 as well it is pefect in the trading zone as well . A break of the last 15 min swing would be a great signal for a contued bull movement . I took a short off the 21 though but tp is very small time of day for consolidation . Just a scalp .
Good Trading To All ; Ken Lee
  • #553
  • Apr 12, 2010 1:19pm Apr 12, 2010 1:19pm
I closed another 25% out for 75% in total.

The 21 is looking tough and its sitting right on an SR line for me.
  • #554
  • Apr 12, 2010 2:43pm Apr 12, 2010 2:43pm
Closed my short fromthe 21 ema at the 200 sma looking left also the bottom of the pin at 1.5365 16 pips ok for this late. am flat till Asia.
Good Trading To All ; Ken Lee
  • #555
  • Apr 12, 2010 3:16pm Apr 12, 2010 3:16pm
I closed mine out about 2 mins after my last post.

I ended the day positive, which is good considering the lost I sustained at the start of the day.

Happy hunting to all and I'll see you all tomorrow

Lee
  • #556
  • Apr 12, 2010 3:57pm Apr 12, 2010 3:57pm
Ken you are famous buddy!!

Inserted Video
Ride the Bulls bearback!
  • #557
  • Apr 12, 2010 5:01pm Apr 12, 2010 5:01pm
Quoting alcando
Ken you are famous buddy!!

http://www.youtube.com/watch?v=_RgL2MKfWTo

OH CRAP !!!!!
Good Trading To All ; Ken Lee
  • #558
  • Apr 12, 2010 5:32pm Apr 12, 2010 5:32pm
The last line of the day did come into play. Also My last trade showing the trading Zone and how we don't have to use fibs to arrive at those areas.
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Good Trading To All ; Ken Lee
  • #559
  • Apr 12, 2010 7:59pm Apr 12, 2010 7:59pm
Yes you can use the same ideas during the early Asian session
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Good Trading To All ; Ken Lee
  • #560
  • Apr 12, 2010 9:00pm Apr 12, 2010 9:00pm
Hi Kenneth --

Just completed reading your second manual, and some good portion of the forum. Great stuff. Thank you for your willingness to pull so much information together for so many.

I've seen a number of references to Asian hours trading. It seems you take some positions well into that session and let them run overnight.

Are these mainly E/J trades? Do you look much at the G/U in this period? Usually pretty slow for the GBP post-London.

I love the idea of taking an (informed) late entry and putting it on 'automatic' with, I assume, appropriate TPs and SLs.

Looking forward to adding your ideas into my trading mix.

With appreciation, Forest
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