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Ken's Continuing Successes with EO's system

  • #581
  • Apr 13, 2010 7:49am Apr 13, 2010 7:49am
You can see the thatb both the DBLHC formed the double bottom on the 1 hr. This is one reason I enter on the 15 min . The stop would be below the low of the DBLHC. and it didn't workout. The 15 you could have turned it at the s/r and maybe locked in some profits . But the best entry was after the second leg of the double bottom..
Good Trading To All ; Ken Lee
  • #582
  • Apr 13, 2010 8:00am Apr 13, 2010 8:00am
Guys; First off I will always do what I want to it is my thread if I don't want to do anything I won't. Second don't feel bad about anything.

I am in the same boat as most of you are. I am learning. I do see entries But if you have never done it, it is hard to generate charts and getting them posted and trade at the same time.

MY issues revolve around my mentality aspect of trading . Doing things I know not to do. If you have read most of this thread I give time to that also. I know very few people that just came into trading and went straight to the head of the class and started profiting without struggling. Most spent a good bit of time conquering there demons first.

So what I do on this thread is teach you what to look for but it will always be your choice to enter or exit a trade.

So let us all progress together.. Ken
Good Trading To All ; Ken Lee
  • #583
  • Apr 13, 2010 8:04am Apr 13, 2010 8:04am
Here is a eplanation from EO about the 35/50 reversal trade with chart.

EO; On the 35/50 reverse trade.
Volume in the market bro! Like the one that happend today during the US lunch time. The trend had been established to be a downward trend, she hit a nice low, 200sma on the h1 CIRCLE B and the 50sma on the h4 CIRCLE C. That sent her north to the 15m 35/50. Sellers started at the 21, 35/50, then bang she closed over the 35/50 and the 50sma was ontop,CIRCLE A sellers jumped on with drool and drove her back down. Those are your trend traders that jumped on her, their not the traders like Infinity, myself and others who went long from the bottom, they waited for the price, then pounced. The 35/50sma cross and reverse is excellent once the trend for the day has been defined like it had been for us from London. Will the cross and reverse work everytime, no, hell no, but it will once we come off a new high or new low.
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #584
  • Edited 9:02am Apr 13, 2010 8:49am | Edited 9:02am
Hey Kodziro,

I like the charts. That 62 was a good trade, however just so you are aware, the 15minute did NOT have a 35/50 trade, at least not on my charts. The PA crossed the 50 and closed 3 pips above the 35 without crossing it.

Regards

Lee

*EDIT* My charts might be wrong as its a demo and its been known to be a few pips out before!
  • #585
  • Edited 9:40am Apr 13, 2010 9:26am | Edited 9:40am
Quoting Kenneth Lee
anyone notice and trade the double bottom on the 15 min gbp ?? it went to it's desired profit target. back to bed for me .. will post a chart later s/r line there also 1.5343
I think I need to loosen up on my requirements. I missed this, despite underlining it as a new SR low!!!!!! I even ran the line to the second leg . I think I am looking for pipp-perfection on these calls and it seems you rarely get them!

But hey, I'm learning, so its all good. Great spot Ken, once again!

I am having a mixed day thus far.

I missed the first 62 bounce that I posted about, but took the second. Sadly this ended up as a mixed affair as I was taking profit, and it was good profit to take, however I got a little nervous and took more. I then left the remainder to run.

As I was looking at my stops and TP's I noticed that the area I had set was a similar area to which I had marked early which was the 35sma+35pips continuation trade. This is something that BKG takes regularly and does well out of it - normaly taking profit for 50pips. Once I had noticed this my thoughts were about adding on to the trade, especially so that I had closed more of it than I wanted to.

So...... I took a retrace bounce off the 15m200. Sadly this continued its retrace, took out both my stops, by three pips, before continuing on its merry journey northwards and hitting almost perfectly the 35+35 and the 50 pips that comes with it. Which would have been something like 75 odd pips from my original entry.

Sadly the loss sustained on my new trade took the profits from my earlier trade and a little more.

I need another ticket for a seat now!

Anyhows... I was supposed to ask a questions here..... do you trade the 35+35pips?
  • #586
  • Apr 13, 2010 9:52am Apr 13, 2010 9:52am
Hi all,

there was a good opportunity to go long e/j.
  • #587
  • Apr 13, 2010 9:54am Apr 13, 2010 9:54am
The hammer on the 150?

Also.... what do you guys make of hte 1hr on the GU. Its struggling with this 62 again. Last time it yeilded 70 odd pips. But I don't know how many times it will play the same tune so close to eachother.

It seems that either the 50 or the 62 might have an effect here.


Lee
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  • #588
  • Apr 13, 2010 10:00am Apr 13, 2010 10:00am
Quoting leemonk
The hammer on the 150?

Also.... what do you guys make of hte 1hr on the GU. Its struggling with this 62 again. Last time it yeilded 70 odd pips. But I don't know how many times it will play the same tune so close to eachother.

It seems that either the 50 or the 62 might have an effect here.


Lee
Yes the hammer (with little upper wick) was a good entry because of the round number and the PPA shows that buyers are sitting there (at least for me). I have a 1 hr s&r zone in this area too.
  • #589
  • Apr 13, 2010 10:03am Apr 13, 2010 10:03am
YOu may also have a 35/50 on your hands after the way that 15m closed.... meaning the next candle may trigger it, though it wasn't a new low previously.
  • #590
  • Apr 13, 2010 10:09am Apr 13, 2010 10:09am
Quoting leemonk
YOu may also have a 35/50 on your hands after the way that 15m closed.... meaning the next candle may trigger it, though it wasn't a new low previously.
I would like to see that the candle touches the 126.60 and closes below the 200 sma. I don't take 35/50 trades without any extra confirmation.
  • #591
  • Apr 13, 2010 10:23am Apr 13, 2010 10:23am
I got stopped out again..... by three pips.... again!

Man, my stops need some SERIOUS working on. I think about them, and think where to put them.

They are either to close and get popped or they are to far and I lose a ton on them....... just one of the daily frustrations


*EDIT*

If this 1hr stays as is.... ie a pin/doji of some form or other I will get back in again, but I'm not going to risk it off the 15minute
  • #592
  • Apr 13, 2010 10:27am Apr 13, 2010 10:27am
Quoting leemonk
I got stopped out again..... by three pips.... again!

Man, my stops need some SERIOUS working on. I think about them, and think where to put them.

They are either to close and get popped or they are to far and I lose a ton on them....... just one of the daily frustrations


*EDIT*

If this 1hr stays as is.... ie a pin/doji of some form or other I will get back in again, but I'm not going to risk it off the 15minute
You got stopped out after the 35/50 cross?
  • #593
  • Apr 13, 2010 10:37am Apr 13, 2010 10:37am
No, I took the 1hr 62 bounce..... well, it was more of a close on the 62 (GU), which worked well earlier.

I just rechecked. I got stopped out by 0.9 of a pip and its now move slowly upwards.

It's annoying because I think my stops are about right, its just that I always seem to be 5-10 pips to small, but I don't just want to add this amount on....... but if its the only way.....

Ps..... your trade is looking DAMN healthy Sir!!!
  • #594
  • Apr 13, 2010 10:41am Apr 13, 2010 10:41am
Hey Ken,

Out of interest, what are your views on the overall market now compared to the begining of '09 when you started with EO's system?

I've looked back over the charts and it seems that whilst they were more volatile then in comparison to recent history, they seem more volatile now than then.

Is it tougher now or is it still the same game?

Lee
  • #595
  • Apr 13, 2010 10:46am Apr 13, 2010 10:46am
Quoting leemonk
Ps..... your trade is looking DAMN healthy Sir!!!
I'm short now. Let's see if the market beats back ;-)
  • #596
  • Apr 13, 2010 10:49am Apr 13, 2010 10:49am
This will be interesting.

It Doji'd (if thats a word) on the 200(15m).

The interesting close, for me at least, will be the 1hr candle. If it closes as a pin on the 50EMA then it may pop upwards signifying support or if it closes on the 50SMA then it may fall signifying a resistance.

I have to post this next bit

WARNING - I AM NEW - DO NOT TRADE MY VIEWS UNLESS YOU AGREE WITH THEM.
  • #597
  • Apr 13, 2010 10:52am Apr 13, 2010 10:52am
Quoting leemonk
This will be interesting.

It Doji'd (if thats a word) on the 200(15m).

The interesting close, for me at least, will be the 1hr candle. If it closes as a pin on the 50EMA then it may pop upwards signifying support or if it closes on the 50SMA then it may fall signifying a resistance.

I have to post this next bit

WARNING - I AM NEW - DO NOT TRADE MY VIEWS UNLESS YOU AGREE WITH THEM.
A doji has a thighter body. I think it's a spinning top or an indecision candle.
  • #598
  • Apr 13, 2010 10:58am Apr 13, 2010 10:58am
0.2 of a pip on my platform.

I say its a Doji, damn it!

Either way, I like that its under the 200 and now it looks like you got a pin too
  • #599
  • Apr 13, 2010 11:02am Apr 13, 2010 11:02am
Okay.... I'm in again.

What do yuo think about my entry and stop?

Green broken line is entry and red broken line is stop. Its about a 25pip stop, but I am more interested in its position.

I entered as soon as the spinning top closed.

*EDIT* I have moved my stop to just below the blue line. Which is a massive 35pips!
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  • #600
  • Apr 13, 2010 11:17am Apr 13, 2010 11:17am
Quoting leemonk
Okay.... I'm in again.

What do yuo think about my entry and stop?

Green broken line is entry and red broken line is stop. Its about a 25pip stop, but I am more interested in its position.

I entered as soon as the spinning top closed.

*EDIT* I have moved my stop to just below the blue line. Which is a massive 35pips!
I'm not an expert and maybe Ken should answer your question. I'm long too but it's a risky trade. Maybe we test the bottom of the 4 hr pin again. My sl is 5346.
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