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

Ken's Continuing Successes with EO's system

#1,001
May 24, 2010 6:06am May 24, 2010 6:06am

Trotty
Joined Feb 2010 | Status: Trader | 1,167 Posts

Quoting trade price

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to share--
its not a great short entry.it could have been bounced off.but this time it didnot.see the big green candle it moved from the cluster zone.
yes aggresive way it was a short entry,when it retested the upper resistant zone.

good trading
sho

Ignored

Thanks mate. That's really why I asked because the short term trend looked bullish but it was the way that price was pushed back after breaking that strong resistance that made me wonder whether it was failing for the long.

Thanks for the feedback though, appreciated.

#1,002
May 24, 2010 6:10am May 24, 2010 6:10am

trade price
Joined Jan 2010 | Status: Trader | 1,188 Posts

Quoting Trotty

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Thanks mate. That's really why I asked because the short term trend looked bullish but it was the way that price was pushed back after breaking that strong resistance that made me wonder whether it was failing for the long.

Thanks for the feedback though, appreciated.

Ignored

yes when ever you judge a setup allways judge it like its happening realtime.
then you will be ahead of the game.
have a nice day

#1,003
May 24, 2010 6:12am May 24, 2010 6:12am

Trotty
Joined Feb 2010 | Status: Trader | 1,167 Posts

Quoting trade price

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yes when ever you judge a setup allways judge it like its happening realtime.
then you will be ahead of the game.
have a nice day

Ignored

Cheers, you too

#1,004
May 24, 2010 7:17am May 24, 2010 7:17am

Kenneth Lee
Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts

Quoting Trotty

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Hello Ken.

Could I ask you about your last trade on this chart?

As the bullish candle doesn't give you a nice reversal candle (Pin/shooting star etc), what is you entry here? It looks like you entered on the next candle whehn it retests the line. If so, are you looking for a trigger here...say price stalling again?

I'm not sure i'd have the confidence to just jump in on that one, without a confirmation candle. It'd be useful to hear how you handle that.

Ignored

Yes right off the Line. The entry signal was all the confluence at that point. Was the best s/r , PPA line latelly 50% fib or 1/2 trading zone. Was worth a 10 pip stop risk for me.

Does it always work NO. nothing does but in the begining the major fib levles are trading strategy that stands alone. I say in the beggining because with more and more equity traders entering the forex market a heavier shift to s/r has accured. But it has always been stand alone as well so a good fib level (Trading Zone) and a good PPA or S/R , Is a good signal for me. But it can fail as they all do . But I know exactlly where that stop is . Plus did you notice a bit later before the real drop That line held once more. Missed that one was sleeping.

Good Trading To All ; Ken Lee

#1,005
May 24, 2010 7:23am May 24, 2010 7:23am

Kenneth Lee
Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts

Quoting Trotty

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Hi,

Just wondered whether this was a solid entry or not. It was around the same trade that Kodziro took on GU off the 200 sma on H1. A watched price break through and close above my resistance line and then form the pin/doji and then reverse. I was then looking for a retest of the resistance line/zero number for a short. I am still far from 100% with the strat so didn't take it but sure enough, it played out.

Do you think this is a good entry if you missed the entry that Kodziro took?

Cheers

Trotty

Ignored

The pin at the top is one of our best entry triggers two candles from the one you have circled. I would call that break and retest the secondary entry . But in both cases as long as you understand why your taking the trade and where your stop is . IF taken off the pin it is right above the pin plus a few , taken off the retest of the s/r line it is above that line plus a few. You will learnthat knowing where a stop is placed is more important than a entry.

If your not sure of a stop entry you can get into that " well maybe it will turn back at the next level " Or in that trade you could say I well let it got to the top of that pin. So plan the stop first then look for the entry . but yes I like that entry . It isn't a 1 or 5 o'clock entry. But is the same principal of one.

Good Trading To All ; Ken Lee

#1,006
May 24, 2010 7:29am May 24, 2010 7:29am

Kenneth Lee
Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts

Quoting Trotty

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Hi,

Just wondered whether this was a solid entry or not. It was around the same trade that Kodziro took on GU off the 200 sma on H1. A watched price break through and close above my resistance line and then form the pin/doji and then reverse. I was then looking for a retest of the resistance line/zero number for a short. I am still far from 100% with the strat so didn't take it but sure enough, it played out.

Do you think this is a good entry if you missed the entry that Kodziro took?

Cheers

Trotty

Ignored

I just went and looked , top of that pin was some decent ppa off the daily chart , enough to qualify that entry . very close to last weeks high. And we are playing more with kick balls instead of hand balls. ( It is a Area) not a point.

Good Trading To All ; Ken Lee

#1,007
May 24, 2010 7:33am May 24, 2010 7:33am

Kenneth Lee
Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts

Nice going Dejan ,, it gets easier as we go along..

Kodziro you seem to be hitting your stride using things you like and understand that is the key . It can be as simple as trying a trade at every breakout with the trend or a confluence of many things you trust . But the overall point is trust . That way you take the trades because the best analyist in the world isn't a great trader if he doesn't take the trades.

Great going ... Ken

Good Trading To All ; Ken Lee

#1,008
May 24, 2010 7:50am May 24, 2010 7:50am

Kenneth Lee
Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts

third and fourth entries London open

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Good Trading To All ; Ken Lee

#1,009
May 24, 2010 7:51am May 24, 2010 7:51am

Trotty
Joined Feb 2010 | Status: Trader | 1,167 Posts

Quoting Kenneth Lee

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The pin at the top is one of our best entry triggers two candles from the one you have circled. I would call that break and retest the secondary entry . But in both cases as long as you understand why your taking the trade and where your stop is . IF taken off the pin it is right above the pin plus a few , taken off the retest of the s/r line it is above that line plus a few. You will learnthat knowing where a stop is placed is more important than a entry.

If your not sure of a stop entry you can get into that " well maybe it will turn back at...

Ignored

Thanks Ken, I really do appreciate your help and it's useful to have someone experienced around to take a look at these thing now that Eclayf has been unceremoniously removed from the forum!

As it seems you found, there's a steep and challenging learning curve with EO's strat but I do think i'm getting there bit by bit.

My only concern with the pin entry on that GU setup was the fact that it had closed above the resistance but the confluence with the 200 sma on H1 would have been enough for you to take the short, I take it?

I'll get there......

#1,010
May 24, 2010 7:58am May 24, 2010 7:58am

Kenneth Lee
Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts

Gump trades anyone ?

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Good Trading To All ; Ken Lee

#1,011
May 24, 2010 8:04am May 24, 2010 8:04am

Kenneth Lee
Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts

Quoting Trotty

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Thanks Ken, I really do appreciate your help and it's useful to have someone experienced around to take a look at these thing now that Eclayf has been unceremoniously removed from the forum!

As it seems you found, there's a steep and challenging learning curve with EO's strat but I do think i'm getting there bit by bit.

My only concern with the pin entry on that GU setup was the fact that it had closed above the resistance but the confluence with the 200 sma on H1 would have been enough for you to take the short, I take it?

I'll get there......

Ignored

Yes I try and show waht is happening with price action first then if you want you can see where the MA system is applied . There was a 35/50 cross reversal in those trades last night to anyone spot it ?

I am no expert . but have only studied price action my whole trading time. I like looking at the chart and seeing things without much clutter. The more you have the more you have to shift through and can miss trades trying to figure out if it is all agreeing or not.

But it gets easier to spot after all it is a new skill set for most of us and anything to be perfected takes time.

Good Trading To All ; Ken Lee

#1,012
May 24, 2010 8:05am May 24, 2010 8:05am

musicman007
| Joined Jul 2006 | Status: Trader | 532 Posts

Quoting Trotty

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Thanks Ken, I really do appreciate your help and it's useful to have someone experienced around to take a look at these thing now that Eclayf has been unceremoniously removed from the forum!

As it seems you found, there's a steep and challenging learning curve with EO's strat but I do think i'm getting there bit by bit....

Ignored

Hi, See you are a Leeds fan - are you based in Leeds? I live just outside.

A

#1,013
May 24, 2010 8:10am May 24, 2010 8:10am

Trotty
Joined Feb 2010 | Status: Trader | 1,167 Posts

Quoting musicman007

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Hi, See you are a Leeds fan - are you based in Leeds? I live just outside.

A

Ignored

In a peculiar ironic twist, I live in Manchester (well Bury)!

#1,014
May 24, 2010 8:18am May 24, 2010 8:18am

musicman007
| Joined Jul 2006 | Status: Trader | 532 Posts

Quoting Trotty

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In a peculiar ironic twist, I live in Manchester (well Bury)!

Ignored

Just over the hill - in Ripponden - will mail you in private

#1,015
May 24, 2010 8:18am May 24, 2010 8:18am

Trotty
Joined Feb 2010 | Status: Trader | 1,167 Posts

Quoting Kenneth Lee

Disliked

Yes I try and show waht is happening with price action first then if you want you can see where the MA system is applied . There was a 35/50 cross reversal in those trades last night to anyone spot it ?

I am no expert . but have only studied price action my whole trading time. I like looking at the chart and seeing things without much clutter. The more you have the more you have to shift through and can miss trades trying to figure out if it is all agreeing or not.

But it gets easier to spot after all it is a new skill set for most of us and...

Ignored

"The Dance" has given me a great introduction into using roughly the same mavs as dynamic s/r. I had read EO's strat some time before but initially, it was too complex. Now i'm benefitting from the stuff you're doing it here and by blending it all together, it's finally starting to click.

Quite exciting really, when the mist lifts and you suddenly start to see clearly....

#1,016
May 24, 2010 10:20am May 24, 2010 10:20am

Kenneth Lee
Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts

Here is a series of charts I posted a while ok explaining the trading zone and we can use it to help our edge. going to post them per page make it easier to see.

A

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