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Ken's Continuing Successes with EO's system

  • #1,301
  • Jul 4, 2010 12:48pm Jul 4, 2010 12:48pm
Quoting AnonYmos
Here's another example. 1st chart shows opening based on that puny little hammer on the 15m. It's the vertical line on the daily chart. No reason to close that 2d half. Wanna see that babe at 146! And there was numerous chances to add on since then. Here we go again - greeeeeed!

I am sorry i see the dotted vertical line now.. Duhhhh!
Good Trading To All ; Ken Lee
  • #1,302
  • Jul 4, 2010 12:51pm Jul 4, 2010 12:51pm
Quoting Kenneth Lee
Thta was a huge move I heve low tolerance for risk, so I would probably adjust this trade in this fashion. Plus the taking profits and adding position size back into trade would allow for a lot more profits without much more risk. as your stop is always moved at each adjustment.
Did some math on your analysis: would have opened 4 pos. Closed four 1st halves at say 30 pips each makes 120 pips. Three 2d halves would have been stopped out. But that one half that's still open today counts about 900 pips. Plus you would have opened more pos on the way up to where we are now. Win some, lose some. But you got a cushion of 900 pips from that one half pos to work on.
  • #1,303
  • Jul 4, 2010 12:58pm Jul 4, 2010 12:58pm
Quoting Kenneth Lee
Horizion + Horiziontal I think could be mistaken..

Yeah mini hammers .. About 6 pm eastern right before asia at times the only entry we get are these very small hammers or pins. Then it just takes off maybe within a hr.. Just depends on volume I guess. Yep might be a great trade there.
No problem, bro. Added a big fat arrow. Tiny hammer became a big hammer when the day was closed. But didn't know that when I plunged. Also could have trade that one from the daily but my god what a sl you need!
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  • #1,304
  • Jul 4, 2010 1:01pm Jul 4, 2010 1:01pm
Quoting AnonYmos
Did some math on your analysis: would have opened 4 pos. Closed four 1st halves at say 30 pips each makes 120 pips. Three 2d halves would have been stopped out. But that one half that's still open today counts about 900 pips. Plus you would have opened more pos on the way up to where we are now. Win some, lose some. But you got a cushion of 900 pips from that one half pos to work on.

Yes and if we take profit along the way even if it comes all the way back . we make soem decent gains . That is key to getting to that next level. I know that some start by closing partial trades like that maing sure they don't take a loss other once they start having a psoitive precentage of large winners shift to just moving the whole thing to Break even plus maybe 2 pips to cover the cost of the trade. ( Commision)

But at the major levels then adjust the position size. But they add on easier becasue like you said they are in a positive trade then . Plus once you past one of those two major S/R lines you can adjust your stop.

If you really analysis EO's trades he moves his stops according to those levels first off the 15 min swings then higher up as they progress. First moves is to BE +2 at say 30 or 40 pips move. But as I said this is after years of proving that his trades will more times than not deliver what he has planned for.

It will come ..
Good Trading To All ; Ken Lee
  • #1,305
  • Jul 4, 2010 1:04pm Jul 4, 2010 1:04pm
Quoting AnonYmos
No problem, bro. Added a big fat arrow. Tiny hammer became a big hammer when the day was closed. But didn't know that when I plunged. Also could have trade that one from the daily but my god what a sl you need!

Yeah that is the thing that is the best about the entries off the 15 min. Small Risk it allows those with small accounts to enter a bit bigger position. We just have to remember they are just the entries.
Good Trading To All ; Ken Lee
  • #1,306
  • Jul 4, 2010 1:05pm Jul 4, 2010 1:05pm
well I am off to work . So trade safe... Maybe kinda quite tomorrow with the 4 th. but you never know .. Seen some easy big trading happen on holidays as well. Day after Thanksgiving comes to mind.


Take care Ken
Good Trading To All ; Ken Lee
  • #1,307
  • Jul 4, 2010 1:06pm Jul 4, 2010 1:06pm
Quoting Kenneth Lee
yes I understand what your saying but also Like EOs' trade there were times he was down to one position on that trade from a 12 position entry. So the more we start with the more we can adjust. yes countertrend trading ina sepereate account or hedging in the rest of the world is another aproach .

But still it all boils down to comfort level. If we have proven to ourselves time and again that we can lett these trades run on thier own ( After covering) and have had those great gains doing it . It will only become easier. It is those first few we...
You could do it starting with one standard lot and then scale down in increments of 0.1. Or you can do it by opening 2 micros (0.2). Lots of alternatives. Depends on funding too.

Leap, bro!
  • #1,308
  • Jul 4, 2010 1:13pm Jul 4, 2010 1:13pm
http://forums.babypips.com/avatars/k...ine=1213113964KENNETH LEE http://forums.babypips.com/images/st...ser_online.gif
Superior Master Contributor and Member


Join Date: Aug 2007
Location: Key West , Florida
Posts: 559


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Quote:
Originally Posted by Shr1k http://forums.babypips.com/images/buttons/viewpost.gif
Nice post Ken.

One of the things I have noticed in life and trading is most people can't see whats right in front of them. Reality is a problem for many people.

I have been at this for about 2 years. I finally got it when I looked at how I trade. What do I do when I trade it does not matter what I am trying to do. What am I really doing? How do I make my natural tendency become an advantage? Its very hard to change a behavior. Change something else to make the behavior work.

Reading your points about attitudes about money really ring true to me. I have a tendency to risk to much. I accept that. I know the temptation will be there. I allow it in a particular situation its part of my plan. I took an account killing problem and redirected it to an account growing tool. It doesn't always pay off sometimes it pays off big when it doesn't it only cuts into todays and part of the previous days gains

Yes it is human nature we can see everything everyone else is doing wrong except ourselves. I think one of the best things I have read and I wish I could remember from where. Was that when trading to write everything down as to why you are taking a trade . Your signals entries ei.. but also your emotional state , How are you feeling are your nervous excited or scared. Then use that information to see how you are affecting your own trading plan .. After all we are driving the bus..


Hope your having a great weekend.. Ken
Good Trading To All ; Ken Lee
  • #1,309
  • Jul 4, 2010 1:16pm Jul 4, 2010 1:16pm
Quoting AnonYmos
You could do it starting with one standard lot and then scale down in increments of 0.1. Or you can do it by opening 2 micros (0.2). Lots of alternatives. Depends on funding too.

Leap, bro!
Yes once the mechanics are in place it is just a matter of compounding... Like this, we all love these get rich ideas. This one is pretty realistic only 20 pips a day... But can you stop at 20 before you lose 50 LOL...
Attached File(s)
File Type: pdf Exsplosive Profits.pdf   244 KB | 806 downloads
Good Trading To All ; Ken Lee
  • #1,310
  • Jul 4, 2010 1:36pm Jul 4, 2010 1:36pm
Quoting Kenneth Lee
Yes once the mechanics are in place it is just a matter of compounding... Like this, we all love these get rich ideas. This one is pretty realistic only 20 pips a day... But can you stop at 20 before you lose 50 LOL...
  • #1,311
  • Jul 4, 2010 7:50pm Jul 4, 2010 7:50pm
Hi All

Ken.. I really enjoyed reading your post about money management as it relates to our mental capabilities.

Recently I took the Jung - Myers-Briggs personality test to see where I fit into things. The results showed me that I am an INTJ. But what is more important is that from this I was able to see how I have a tendency to think. What makes me tick so to speak. Then with this information relate it to trading.

We have all heard that we trade according to our personality. A few years ago I thought "What the hell does that mean" . The personality profile was an eye opener.

Here is a short section of the discription for an INTJ.

INTJs are perfectionists, with a seemingly endless capacity for improving upon anything that takes their interest. What prevents them from becoming chronically bogged down in this pursuit of perfection is the pragmatism so characteristic of the type: INTJs apply (often ruthlessly) the criterion "Does it work?" to everything from their own research efforts to the prevailing social norms. This in turn produces an unusual independence of mind, freeing the INTJ from the constraints of authority, convention, or sentiment for its own sake.

INTJs are known as the "Systems Builders" of the types, perhaps in part because they possess the unusual trait combination of imagination and reliability. Whatever system an INTJ happens to be working on is for them the equivalent of a moral cause to an INFJ; both perfectionism and disregard for authority may come into play, as INTJs can be unsparing of both themselves and the others on the project. Anyone considered to be "slacking," including superiors, will lose their respect -- and will generally be made aware of this; INTJs have also been known to take it upon themselves to implement critical decisions without consulting their supervisors or co-workers. On the other hand, they do tend to be scrupulous and even-handed about recognizing the individual contributions that have gone into a project, and have a gift for seizing opportunities which others might not even notice.

As you see it gives specific details. In reading this I also understood why trading off a one minute chart doesn't work for me.

Anyway it is just a thought. Some may want to take the personality test and read about themselves. You can find free ones on the web.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,312
  • Jul 5, 2010 4:32am Jul 5, 2010 4:32am
Quoting Kenneth Lee
well I am off to work . So trade safe... Maybe kinda quite tomorrow with the 4 th. but you never know .. Seen some easy big trading happen on holidays as well. Day after Thanksgiving comes to mind.


Take care Ken
Hey Ken. I never realised you did a "normal" job as well?

Has trading not proven profitable enough for it to be your sole job or is it just a case of enjoying variety ?
  • #1,313
  • Jul 5, 2010 5:16am Jul 5, 2010 5:16am
EU
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  • #1,314
  • Jul 5, 2010 5:42am Jul 5, 2010 5:42am
Quoting Trotty
Hey Ken. I never realised you did a "normal" job as well?

Has trading not proven profitable enough for it to be your sole job or is it just a case of enjoying variety ?

No; hehe,, I had mentioned a few pages back. I had traded full time for almost 2 years and paid the bills. But I was never funded properly , I had to take profits always to pay the bills . recently i had some major expsenses that puled my equity very low. So I am working to relief the stress of HAVING to take gains all the time and mentally to soon. It is also i hope giving the oppurtunity to take a step back and see trading from a different point of view. I want to learn emtionally how to hold my trades .. Which we have talking about latelly.

So That is the deal...

PS. maybe trying the exsplosive Forex. Compounding to build my account equity.. 20 Pips a day should be a cake walk for anyone trading this way. Will use two accounts once I hit 20 pips in a day switch to the other if I want to continue to trade.

I would recomend this for any new trader $300 is little to risk and if you can do it. Then you are ready to trade. Maybe Like me have two accounts or switch to demo after your 20 each day. But 30K would be a nice trading account.

So with that idea maybe by the end of the year back to full time with a nice equity .
Good Trading To All ; Ken Lee
  • #1,315
  • Jul 5, 2010 5:49am Jul 5, 2010 5:49am
Could you guys hit me with some knowlegde here?

It was two trades I took earlier, circled in white on the right.

First one, ppa, an inverted green hammer, and price stayed within the wick of the shooting star on friday seen left there.

Second was a hammer, 200sma and price a coupple of pips above 62ema made me go long.

Comments on those two are very welcome, and any thoughts on the last uncircled hammer where price turned is also appreciated, price had just closed past the 62 on 1h.

Thanks in advance
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  • #1,316
  • Jul 5, 2010 6:30am Jul 5, 2010 6:30am
Quoting Storeball
Could you guys hit me with some knowlegde here?

It was two trades I took earlier, circled in white on the right.

First one, ppa, an inverted green hammer, and price stayed within the wick of the shooting star on friday seen left there.

Second was a hammer, 200sma and price a coupple of pips above 62ema made me go long.

Comments on those two are very welcome, and any thoughts on the last uncircled hammer where price turned is also appreciated, price had just closed past the 62 on 1h.

Thanks in advance
Why you trade against down move( got asian breakout also )
If you have to your entries should be at s/r line.

You should look for short instead, and you got it at 5148.


Price had close past 62 ema with no wick so i think this indicates long.

Uncircled hammer was nice reversal signal for me because of stoch divergence.

PS. first pa was with the news
  • #1,317
  • Jul 5, 2010 7:36am Jul 5, 2010 7:36am
Quoting kodziro
Why you trade against down move( got asian breakout also )
If you have to your entries should be at s/r line.

You should look for short instead, and you got it at 5148.


Price had close past 62 ema with no wick so i think this indicates long.

Uncircled hammer was nice reversal signal for me because of stoch divergence.

PS. first pa was with the news
Thanks for your reply, and congrats on your vouch, well deserved

Yes short would be preferable, no doubt about that really. But on the first trade price was still in the range from friday and hadnt broken the hammer which messed with my thinking, but yea good point about asian breakout. We also do have the general rule of looking for shorts when under the 50ma, how strickt do you follow that though?

And second was mainly cause of 62ema but perhaps I was a bit premature..

Got short in on the retrace to 5148 as you mentioned, fib level, retest 200sma and spinning top. So got a few pips back atleast
  • #1,318
  • Jul 5, 2010 7:50am Jul 5, 2010 7:50am
chart
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Good Trading To All ; Ken Lee
  • #1,319
  • Jul 5, 2010 8:05am Jul 5, 2010 8:05am
Hi Ken thanks for the chart

I actually miss typed and didnt mean shooting star, sorry, I meant the hammer on my second red arrow on the left there, right by the green line. Seeing as it didnt close past it and the mention of that the trigger signal is valid until broken was what just messed with me a bit.
  • #1,320
  • Jul 5, 2010 8:18am Jul 5, 2010 8:18am
Quoting Storeball
Hi Ken thanks for the chart

I actually miss typed and didnt mean shooting star, sorry, I meant the hammer on my second red arrow on the left there, right by the green line. Seeing as it didnt close past it and the mention of that the trigger signal is valid until broken was what just messed with me a bit.
Yeah but the 3rd touch of that line and then broke it. Was the clue. Even the Hammer closed above that line.. I wouldn't say taking that trade was totally wrong but waiting a bit told all. But maybe seeing it as questionable is hard. Try looking at the closes to the left which would have been after your signal printed (closed) and if you see that your candle is a bit different maybe give it a moment. If it had gone up it probably would have retested that line as support.

It is hard to understand how important the close of a candle is. It is very strange but we see it time and again that last few seconds a totally different signal appears or the one we wanted to take disappears. but which side a line it closes on , then if it is closing at the top of the hr and a new hrly candle is printing as well adds more to the mix.
Good Trading To All ; Ken Lee
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