Ken's Continuing Successes with EO's system | Page 48 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The System Behind the System, by Merlin Jeffries 16 replies

FX Trading Journal & Continuing Education (warrensapp) 2 replies

Continuing Direction following new Daily Low or High at Close 5 replies

Just basic question on trading successes 10 replies

Would you trade this system? New system #2. 10 replies

Attachments: Ken's Continuing Successes with EO's system
Exit Attachments

Ken's Continuing Successes with EO's system

  • #941
  • May 18, 2010 4:57am May 18, 2010 4:57am
Quoting AnonYmos
35/50-reversal. Opened @ .44563 and set sl to 4468. Comments welcome.
Had a major swing to the left 1.4362 to 1.4497 .which was a up trend the 500 area had turned price before. we had a some decent down movement and some lower highs although minor . I would have taken these also, but it did give you the oppurtunity to exit twice with a small gain or BE . as only retested the 35 sma . Which is a standard of this trade we get the reversl or we just get a retest. The real trade happens when we can learn to reverse that trade at the retest without emotion.
Attached Image (click to enlarge)
Click to Enlarge Name: Misc.jpg Size: 177 KB
Good Trading To All ; Ken Lee
  • #942
  • May 18, 2010 5:00am May 18, 2010 5:00am
Quoting AnonYmos
Another failed 35/50-reversal. Comments welcome.
CPI is a major news event, cross was one candle after news release. Plus don't look at it as a failure just look for the other oppurtuntiy of the retesst trade. One trade signall moves directlly into the next with EO's system. The failure of the 35/50 cross is a breakout trade. Yes it is hard to pull off but it is the fact.
Good Trading To All ; Ken Lee
  • #943
  • May 18, 2010 5:02am May 18, 2010 5:02am
Quoting kodziro
long after 35/50 then short

Ps. Looks like News respect 1h 62ema although didn`t trade it, but earlier EU 62 ema along with daily high give us nice profit.

Yep funny how that happens time and again the news will turn at major ma's the 200 sma is also good for run away news.
Good Trading To All ; Ken Lee
  • #944
  • May 18, 2010 5:04am May 18, 2010 5:04am
THANKS!
  • #945
  • May 18, 2010 5:26am May 18, 2010 5:26am
Sorry this is so late.. Little much Vodka Saturady night.. hehe
Attached Image (click to enlarge)
Click to Enlarge Name: Misc 1a.jpg Size: 261 KB
Good Trading To All ; Ken Lee
  • #946
  • May 18, 2010 5:49am May 18, 2010 5:49am
So we not liking to trade the 4 hr (3 Hr) chart will zoom in . to the 15 MIn. Can we see anything usefull.
Attached Image (click to enlarge)
Click to Enlarge Name: Misc 2.jpg Size: 224 KB
Good Trading To All ; Ken Lee
  • #947
  • May 18, 2010 5:57am May 18, 2010 5:57am
Hi guys

Again, as yesterday... EJ and GJ bounced respectively to the 50 fibo and to the 38,2 fibo + some PPA + yesteday's high for both pairs. I don't know if each pair "tend" to respect more this or that fibo level when there is some 1 or 5 o' clock formation.. will be looking for it and will post what i "see".

Cheers to everybody
I don't want a job, i want money!
  • #948
  • May 18, 2010 6:03am May 18, 2010 6:03am
So in review what do we see. The major S/R are key , But the 15 min can get us better entries. Yes there are other trades available during the day INTRADAY trading. But the the best trades with the biggest gains will tke place near those major S/R lines.

So if you want to focus on one thing and not try and figure out all the different MA entries. Just use the the major S/R. Then enter as tight as possible. Although these entries are where some will us PO's ( Pending Orders) that way when the area is aproached when they are away they can get in. This does require a larger stop though.

The major players of this startegy has always tried to get everyone to see this. But most don't . Reversal and breakout trades are THE most common trades ever taken. They require no thinking or exotic indicators or even ma's Just A line. If it breaks look for a retest to enter . If it gets rejected look to enter as close to the line as possibl allowing for the tightest stop. Stop is always on the otherside of the line.

You can trade this way on any time frame chart . But the higher the better as in all entries. But to use the 15 min to enter at a 4 hr or daily line has always been our goal. Though I believe we lose the focuse of that looking to much at 15 min entries.

So when your seeing your 15 min entry also add to your plan, is this near or at a major s/r line? It can change your view on profit targets plus looking up the line you can see the greater trend .

But really people you can just trade the lines no MA's no trading zone. Nothing just take every MAJOR support and resistance . Then don't let a stop run away you have a line in the sand . But let your profits go as far as they will, use your stop to close your trades. as you move into profits just slip your stop up. As you cross lines swings or other s/r your stop should now be on the other side of that line. This is where using your trading zone can help as you now know where price may retrace too.
and your stop would be beyond the most common levels.

Hope this helps some. Any questions fire away.
Good Trading To All ; Ken Lee
  • #949
  • May 18, 2010 6:05am May 18, 2010 6:05am
Quoting dario1002
Hi guys

Again, as yesterday... EJ and GJ bounced respectively to the 50 fibo and to the 38,2 fibo + some PPA + yesteday's high for both pairs. I don't know if each pair "tend" to respect more this or that fibo level when there is some 1 or 5 o' clock formation.. will be looking for it and will post what i "see".

Cheers to everybody

Yes that is very common and one of EO's favorite trades. a breakout of consolidation or previous sessions high or low. It is the reasoning behind the 1 and 5 o'clock entries. Plus it will normally allow you not to get caught in a false brekout as it happens a bit down the road.

Funny but it is also the same thing I have just posted a breakout and retest of a known level. I again say it is the most common means of trading.
Good Trading To All ; Ken Lee
  • #950
  • May 18, 2010 6:25am May 18, 2010 6:25am
Went back and looked at our 3 hr chart to count the failed entries. 6 Possible failures out of 36 total entries. Also most of the failures still moved over 50 pips. So at the least breakeven or some gains.
Attached Image (click to enlarge)
Click to Enlarge Name: Misc 1a.jpg Size: 274 KB
Good Trading To All ; Ken Lee
  • #951
  • May 18, 2010 6:59am May 18, 2010 6:59am
Quoting Kenneth Lee
Went back and looked at our 3 hr chart to count the failed entries. 6 Possible failures out of 36 total entries. Also most of the failures still moved over 50 pips. So at the least breakeven or some gains.
HI ken
u are doing a great work here.keep it up buddy.
i just saw your last post.similer way i trade as well.hope you would not mind if i pop in some time here.

@ new peoples here

we are traders we trades our edges.we dont know the out come of each trade.we trade as long as our methood told us.we would not get right 100% thats why we use stops.support and resistant is true trading.
trading is all about supply and demand.if u can spot the true supply and demand levels,trading is easy.
its all about our mind,how we see a setup and how we think.take the trade in the direction of orderflow you will be ahead of the game.
make a trading plan .know where you will be wrong.
dont take randomly any entry and exit.if you have a plan,if u fail , you will know where you went wrong.
like KEN drew the supply and demand level keep an eye on those levels.this is where all the big orders wait in the orderbook to execute.

good trading
sho
  • #952
  • May 18, 2010 7:10am May 18, 2010 7:10am
Quoting trade price
HI ken
u are doing a great work here.keep it up buddy.
i just saw your last post.similer way i trade as well.hope you would not mind if i pop in some time here.

@ new peoples here

we are traders we trades our edges.we dont know the out come of each trade.we trade as long as our methood told us.we would not get right 100% thats why we use stops.support and resistant is true trading.
trading is all about supply and demand.if u can spot the true supply and demand levels,trading is easy.
its all about our mind,how we see a setup and how we think.take...

Welcome glad to have you ... Please feel free to post anytime. Ken
Good Trading To All ; Ken Lee
  • #953
  • May 18, 2010 8:04am May 18, 2010 8:04am
In your intraday trading watching the swings on the 15 min can help you to enter correctlly. Just because we reject off a are doesn't mean it will change the trend. Could just be a test. Then the swings will tell. This is also why until you get the nearest swing broken that moving your stop can be to soon for a big move.
Attached Image (click to enlarge)
Click to Enlarge Name: Misc 3.jpg Size: 217 KB
Good Trading To All ; Ken Lee
  • #954
  • May 19, 2010 12:57am May 19, 2010 12:57am
Hi Ken,

I see you have some serious momentum picking up here

I've been sending a few people over that wanted to learn the EO method, so I hope thats okay.

One question I would like to ask you; Do you use 'Round Numbers'?

I was switching between 'The Dance' and 'EO's' strategies yesterday and EO's method working very well indeed when confluence was taken with some MA's on a RN, which is something we use in 'The Dance'.

Just wondered if you do/considered it?

I've got an indicator somewhere if you want to have a look. If not, no worries.

Regards

Lee
  • #955
  • Edited 3:47am May 19, 2010 3:01am | Edited 3:47am
Short GU. This happen time and time again ( look at my post at 14 and 17 may ). Got some nice down move from yesterday and near London/Frankfurt open, fibo comes in to play. Always look for more confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: guc.jpg Size: 164 KB
  • #956
  • May 19, 2010 4:10am May 19, 2010 4:10am
Quoting leemonk
Hi Ken,

I see you have some serious momentum picking up here

I've been sending a few people over that wanted to learn the EO method, so I hope thats okay.

One question I would like to ask you; Do you use 'Round Numbers'?

I was switching between 'The Dance' and 'EO's' strategies yesterday and EO's method working very well indeed when confluence was taken with some MA's on a RN, which is something we use in 'The Dance'.


See you went from LEEMONK...

I consider big numbers not sure if that is the same as round numbers .. , Could you explain what you mean by it ? f you want post the indicator but I don/t use MT4 but may startbusing a demo some other things I would like to look at possiblly as well. Thanks ken
Good Trading To All ; Ken Lee
  • #957
  • May 19, 2010 4:12am May 19, 2010 4:12am
Quoting kodziro
Short GU. This happen time and time again ( look at my post at 14 and 17 may ). Got some nice down move from yesterday and near London/Frankfurt open, fibo comes in to play. Always look for more confirmation.
Yes that is all it takes find one thing that is easy for you to spot then do it over and over agian. Once it is a natural habbit look for no.2 . Great Going
Attached Image
Good Trading To All ; Ken Lee
  • #958
  • May 19, 2010 4:52am May 19, 2010 4:52am
hi all, i love this thread. my first noob image on FF of EURUSD M15. thanks leemonk. are the S/R lines properly drawn? are there any better entries than those circled? i would appreciate constructive criticism. please don't hold back otherwise i can't grow. thx in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: EU M15.JPG Size: 68 KB
  • #959
  • May 19, 2010 6:03am May 19, 2010 6:03am
Short GY @ 130.049 sl 130.45. 5 o'clock. Tried to get the reversal to the 5 MA. Comments welcome.
Attached Image (click to enlarge)
Click to Enlarge Name: eo 181-15m.gif Size: 45 KB
  • #960
  • May 19, 2010 6:22am May 19, 2010 6:22am
Hi Ken,

I guess our RN (round numbers) are very similar to your whole numbers, but maybe a little more frequent.

I'll post here the indicator, which needs adjusting per 4 or 5 digit broker and also on the timeframes. 25/50 pips on a 15minute chart is great, but on a 1hr chart, you wont see anything else!

There are also two charts, one showing the numbers and the other showing some reactions yesterday.

Alone, they are simuilar to a lone MA, ie not too reliable, however in confluence with an MA, the work very well and lets face it...... your/EO strategy isn't short of MA's now is it!

I took 60 pips yesterday on two calls and I was only playing around as I was looking at the differences between 'The Dance' and the 'Trade what you see...'.

It may 'clutter' things up a little to much for you, but it's worth a look.

Regards

Lee
Attached Image(s) (click to enlarge)
Click to Enlarge Name: tradepicentry.jpg Size: 78 KB
Click to Enlarge Name: tradepicmid.jpg Size: 124 KB
Attached File(s)
File Type: mq4 Round Numbers Beige.mq4   4 KB | 332 downloads
7 traders viewing now