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Ken's Continuing Successes with EO's system

  • #1,061
  • May 28, 2010 9:41am May 28, 2010 9:41am
Hope you don't mind me adding my chart for today...

Think it shows the importance of looking at HTFs first of all then waiting for entry points on the 15 minute chart and using the MAs.

Have a good weekend everyone - it's bank holiday on Monday for us in England so 3 day weekend. Happy Days!

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  • #1,062
  • May 28, 2010 12:22pm May 28, 2010 12:22pm
Ken Lee....how it be?????

HOLLA
  • #1,063
  • May 28, 2010 3:09pm May 28, 2010 3:09pm
Quoting Magic Hat
Hope you don't mind me adding my chart for today...

Think it shows the importance of looking at HTFs first of all then waiting for entry points on the 15 minute chart and using the MAs.

Have a good weekend everyone - it's bank holiday on Monday for us in England so 3 day weekend. Happy Days!

Attachment
Killed it buddy, thanks for the chart
  • #1,064
  • May 29, 2010 12:47pm May 29, 2010 12:47pm
Hi Ken,

Great continuation of EO's thread. You've really helped me with my intraday trading. I've just joined FF (took me way too long). I have a question if I may.

I've been using the 1 hour 62 EMA trade for a while now, and am just wondering if you could share any tips you have learned to determaine the probability of the trade working?

Thanks and keep up the great work.
  • #1,065
  • May 30, 2010 3:46am May 30, 2010 3:46am
For anyone not in the UK and USA, Monday is a public holiday for both. A few pairs are going to be skitish.

Hi Turtle :-)
  • #1,066
  • May 30, 2010 5:38am May 30, 2010 5:38am
hi everyone!!
Ken , you doing great job!!
I Just joined the community and started learning about trading so please don't be tough on me if ask some silly questions.
what SMA stands for? there are two SMA in MT4 Simple and Smooth.
and what is PA and PO?
many thanks
  • #1,067
  • May 30, 2010 9:47am May 30, 2010 9:47am
Quoting sbs81
hi everyone!!
Ken , you doing great job!!
I Just joined the community and started learning about trading so please don't be tough on me if ask some silly questions.
what SMA stands for? there are two SMA in MT4 Simple and Smooth.
and what is PA and PO?
many thanks

what SMA stands for? Simple Moving Average

what is PA and PO? PA = Price Action, PO = Pending Order

You really need to at least read the pdf First. It is all in there..

Welcome Ken
Good Trading To All ; Ken Lee
  • #1,068
  • May 30, 2010 9:53am May 30, 2010 9:53am
Quoting Tatyana
Hi Ken,

Great continuation of EO's thread. You've really helped me with my intraday trading. I've just joined FF (took me way too long). I have a question if I may.

I've been using the 1 hour 62 EMA trade for a while now, and am just wondering if you could share any tips you have learned to determaine the probability of the trade working?

Thanks and keep up the great work.
The use of the trading Zone Fib levels) gives a greater possiblity of successfull trades. It is a Retrcement trade and is labeled as such in the PDF. Then a nice PPA , S/R area in the same area would be Luvlly. You can also look for confluens from your higher time charts. The 4 HR or Daily as the area may also be within one of our entry signals off them.

It seems like a lot but with exprience it is a quick process to glance at your charts and see all these. The higher time frame entry areas can be spotted and marked on your charts before hand. Then just wait for price to get there the hardest part. A entry for a 62 ema trade can be made up to about 10 pips away from the level as it is a area not a pin point.

I will try and post a chart a bit later Ken
Good Trading To All ; Ken Lee
  • #1,069
  • May 30, 2010 12:55pm May 30, 2010 12:55pm
Quoting BenScoobert
For anyone not in the UK and USA, Monday is a public holiday for both. A few pairs are going to be skitish.

Hi Turtle :-)
What's up Ben??

Yeah bro, I figure I might as well wait for that monthly candle to official close and see what the market wants to do.

So you know what that means......And family time!!!!

Taking an onlime Jazz class this summer, it's pretty smooth so far. :nerd:

HOLLA
  • #1,070
  • May 31, 2010 8:06am May 31, 2010 8:06am
Hey; Turtle, Hope all is well with you. School should be winding down for break soon I would guess. You still trading off the longer time frame charts ? How's that going for you ? I just chilling today not much moving the charts so R&R is better choice. got some steaks for the Barbie and making a big pot of red beans and rice.. Plenty of libations to go with it.

Take care and stop by again when you can.. Cheers Ken
Good Trading To All ; Ken Lee
  • #1,071
  • May 31, 2010 1:23pm May 31, 2010 1:23pm
Hi all! Hope everyone is doing good!

I was looking at the charts when this got me pretty unsure.

Things that made me think of going long here was, 15min tl, 200ema and 4H 50.0 Fib level. I know Ken talked about having at least 3 things pointing in the same direction for taking a trade, so I guess we should have it here.

However what made me unsure and actually thinking short was the DBHLC on 15min, the shooting star on the 1H with some ppa, and actually the 4h as well as price had turned at that level a coupple of times before.

What would you guys have done here? Long, short, nothing perhaps?
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  • #1,072
  • May 31, 2010 5:04pm May 31, 2010 5:04pm
Quoting Storeball
Hi all! Hope everyone is doing good!

I was looking at the charts when this got me pretty unsure.

Things that made me think of going long here was, 15min tl, 200ema and 4H 50.0 Fib level. I know Ken talked about having at least 3 things pointing in the same direction for taking a trade, so I guess we should have it here.

However what made me unsure and actually thinking short was the DBHLC on 15min, the shooting star on the 1H with some ppa, and actually the 4h as well as price had turned at that level a coupple of times before.

What...
Helo.

Here`s my thoughts about that 15m DBHLC.

Cheers.
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  • #1,073
  • Jun 1, 2010 10:52am Jun 1, 2010 10:52am
Quoting Kenneth Lee
Hey; Turtle, Hope all is well with you. School should be winding down for break soon I would guess. You still trading off the longer time frame charts ? How's that going for you ? I just chilling today not much moving the charts so R&R is better choice. got some steaks for the Barbie and making a big pot of red beans and rice.. Plenty of libations to go with it.

Take care and stop by again when you can.. Cheers Ken
Good to hear Ken.

I had about a week break, now taking an online summer class. Trading when the setup presents itself. Market has been crazy these last 8 weeks, so I take what the market gives me and be on my way.

Hope those steaks were good.

HOLLA
  • #1,074
  • Jun 2, 2010 12:29pm Jun 2, 2010 12:29pm
Quoting kodziro
Helo.

Here`s my thoughts about that 15m DBHLC.

Cheers.
Yea I guess short is preferable. Just easy to second guess yourself when your seeing a bunch of different things. Thanks!
  • #1,075
  • Jun 3, 2010 9:32am Jun 3, 2010 9:32am
This thread has been a little quiet this week, is everyone having a week off?

Im liking the way this EurJpy is lining up on H4, I think Ill be shorting around the H1 close.
  • #1,076
  • Jun 3, 2010 4:51pm Jun 3, 2010 4:51pm
Quoting BenScoobert
This thread has been a little quiet this week, is everyone having a week off?

Im liking the way this EurJpy is lining up on H4, I think Ill be shorting around the H1 close.
this week I was trading only at tuesday and today just started my long weekend, got catholic holiday here in Poland
  • #1,077
  • Jun 4, 2010 9:50am Jun 4, 2010 9:50am
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 all!

I'v been reading about what was touched upon on page 63 64. Basically just using our higher tf and taking trades directly of our s/r. Of course we can then also close in on our lower time frames to get the tightest entry. However what im struggling with is maintaining the trade once we're in.

Lets say price touches a support line on our 4H chart, we zoom in on our 15min to get the best entry, we find some good pa and we go long once a candle close as a hammer. What do we then do, if we try to maintain the trade on the 15min we will surely get some sort of confluence of signals telling us to exit the long, but on the 4H it wont be noticable at all.

Like a trade I had earlier this week, went short when price hit resistance on my daily chart and it began to reverse down, but then it reached the 1h62ma which should tells us to go long. So if we use the daily tf we would still be keeping our short trade, but if we look at the 1h we should be closing the short and be going long.

So to wrap it all up what im woundering about is how do we manage trades taken of the higher tf s/r when we get coflicting signals on our shorter tf.

Thanks in advance for all replies!

Have a great weekend!!
  • #1,078
  • Jun 4, 2010 12:20pm Jun 4, 2010 12:20pm
Storeball -
I believe, or at least I want to believe the answer to your question is BOTH.

I think I've read where it may become prudent to have two brokers in which to attain more success with this style of trading.

Like you said - what to do when conflicting - - with two brokers - -you've entered your "long term" position - cover it and let it ride - adjusting your stop along the way.

While at the same time - with another platform/broker - you can trade your shorter term, when it tells you to go agianst your long term position.

At least this is my mentality with this style. I could be way off??????
  • #1,079
  • Jun 5, 2010 8:37am Jun 5, 2010 8:37am
Quoting Storeball
Hi all!

I'v been reading about what was touched upon on page 63 64. Basically just using our higher tf and taking trades directly of our s/r. Of course we can then also close in on our lower time frames to get the tightest entry. However what im struggling with is maintaining the trade once we're in.

Lets say price touches a support line on our 4H chart, we zoom in on our 15min to get the best entry, we find some good pa and we go long once a candle close as a hammer. What do we then do, if we try to maintain the trade on the 15min we will...
Maybe like this..
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Good Trading To All ; Ken Lee
  • #1,080
  • Jun 5, 2010 8:59am Jun 5, 2010 8:59am
Within the area of the retangle you can also see that the line we drew . then broke and retested. If we are concerned about the trade we can always close at KNOWN PPA -S/R areas and reenter on the retest. But if we want to or can't watch it fully we can just let it run. A person that can enter and exit without any emotional attachment could stand to make many more pips than even a great long term trader. The issue is there are few that can pull it off well.

If you read much of EO's thread Infinity was great at that he could reverse and enter trades at almost the exact levels time after time. Because he had done his pretrade work and knew where they were and how price would react to them. Plus if they were a bounce or a reversal area and then willing to take what was offered.

But for most of us the use of the 1 hr 10 ema to stay in trades would be a good starting point. used in conjuction with the 15 min . The retangle area was a break and retest of the 200 sma on the 1 HR. , and the flag area on the 15 min is just a blip on the 1 HR.
Good Trading To All ; Ken Lee
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