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Ken's Continuing Successes with EO's system

  • #1,341
  • Jul 7, 2010 8:20am Jul 7, 2010 8:20am
Quoting AnonYmos
Closed 2d half of the EY pos with 103 pips plus and reopened another short in the meantime which is not looking too good atm. Can't chart. Got to run.

Have a great week with your friends. Guess the fact that the world cup is coming to its dramatic climax is not relevant to you guys in the US?
Not anymore LOL

It was big for a little while... short attention spans ..
Good Trading To All ; Ken Lee
  • #1,342
  • Jul 7, 2010 8:32am Jul 7, 2010 8:32am
Quoting AnonYmos
Hi Ken! Got a question: how do you draw your ppa-lines. Noticed that you are not merely connecting lo's and hi's but somehow try to find the, how shall I put it, balance point of the action. Observation correct? Any more detail about the process available? Thanks in advance.
I always got on my chart daily high/low, retest of the breakouts, h/l of the turning candle, some ppa that came important with test.

Ps. look like price react with level 5158 now ( i mention about it yesterday ) PO there is always good idea can`t say that price turn there but it will react there with high probability
  • #1,343
  • Jul 7, 2010 9:07am Jul 7, 2010 9:07am
A losing trade.

The green circled candles were the entry triggers. The second candle (the one entered on) hadn't finished when I entered but I was ready to enter short on the rejection off the 50 EMA back into the short-term trend from the earlier candle. When it was rejected a second time, I thought the short would play out. I'm aware that it made a sort of higher low but having already been rejected off the H1 ma's/resistance, i've seen it push back past that sort of sharp higher low many times before.

Price then pushed back up, took my stop out and is current retesting the hour ma's/resistance area.

Was this too risky an entry or just poor all round?
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  • #1,344
  • Jul 7, 2010 9:52am Jul 7, 2010 9:52am
Quoting Trotty
A losing trade.

The green circled candles were the entry triggers. The second candle (the one entered on) hadn't finished when I entered but I was ready to enter short on the rejection off the 50 EMA back into the short-term trend from the earlier candle. When it was rejected a second time, I thought the short would play out. I'm aware that it made a sort of higher low but having already been rejected off the H1 ma's/resistance, i've seen it push back past that sort of sharp higher low many times before.

Price then pushed back up, took my stop...
'
I saw that trade also but after having made a higher low I was warey of it. My thought was it could come back but might just consolidate. So I passed on it.

Like I have said I put a lot of value on the swings. higher Lows mean up, lower highs down. Sometimes like everything else they fail as well. But overall a good idea to keep a hold of.

Like yesterday I was waiting for a retrace on the gbp to form a lower high to get in short after closing my short from the top to soon.. It finnally appeard at 1.5163 area with good PPA , and as we can now see of course it was a good entry worth 80 pips or so. But we lost the first part. But normally that first swing in change of direction doesn't take so long to form .
look at e/j and the gbp both reversed then came back and made a higher low on the gbp if you missed the bottom entry and got in near the higher low you only lost 20 pips or so. Not much to have a safer entry..
Good Trading To All ; Ken Lee
  • #1,345
  • Jul 7, 2010 9:56am Jul 7, 2010 9:56am
Quoting Kenneth Lee
'
I saw that trade also but after having made a higher low I was warey of it. My thought was it could come back but might just consolidate. So I past on it.

Like I have said I put a lot of value on the swings. higherLows mean up lower highs down. Sometimes like everything else they fail as well. But overall a good idea to keep a hold of.

Like yesterday I was waiting for a retrace on the gbp to form a lower high to get in short after closing my short from the top to soon.. It finnally appeard at 1.5163 area with good PPA , and as wee can now...
Cheers Ken, appreciated as always. So not a terrible entry but a losing trade that could be avoided by just reducing your risk by waiting for a clearer direction? Is that basically the crux?
  • #1,346
  • Jul 7, 2010 10:01am Jul 7, 2010 10:01am
Quoting Trotty
Cheers Ken, appreciated as always. So not a terrible entry but a losing trade that could be avoided by just reducing your risk by waiting for a clearer direction? Is that basically the crux?

yeah
i think I mentioned yesterday or recently if you wait for the second higher swing you can almost guarntee a good trade. But taking the first off a signal is good. if it had come straight from the bottom and formed another lower high that would have been a stellar entry
but after the higher low places doubt somone is interested in turning this around..
Good Trading To All ; Ken Lee
  • #1,347
  • Jul 7, 2010 10:11am Jul 7, 2010 10:11am
Quoting Kenneth Lee
yeah
i think I mentioned yesterday or recently if you wait for the second higher swing you can almost guarntee a good trade. But taking the first off a signal is good. if it had come straight from the bottom and formed another lower high that would have been a stellar entry
but after the higher low places doubt somone is interested in turning this around..


Sitting on your hands if most of your ducks line up (there was a bearish pin off H1 ma's as well) but not all of them, is sometimes that hardest thing to do.....
  • #1,348
  • Jul 7, 2010 10:44am Jul 7, 2010 10:44am
Quoting Trotty


Sitting on your hands if most of your ducks line up (there was a bearish pin off H1 ma's as well) but not all of them, is sometimes that hardest thing to do.....

yeah hardest part patience ,, waiting on trades then tp to be hit
Good Trading To All ; Ken Lee
  • #1,349
  • Jul 7, 2010 11:21am Jul 7, 2010 11:21am
traders always respect important ppa line, if it break I would look for retest trade
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  • #1,350
  • Jul 7, 2010 11:25am Jul 7, 2010 11:25am
Might have a aisain drift off the pins around 11:00 eastern on the Gbp
Good Trading To All ; Ken Lee
  • #1,351
  • Edited 11:19pm Jul 7, 2010 11:38am | Edited 11:19pm
Quoting kodziro
traders always respect important ppa line, if it break I would look for retest trade
Yes it happens all the time. The law of averages alone would make you successfull just learn how to identify those areas is all that is required then some simple candlestick entries in the pdf's use the MA's to help to alert you to the presence of some PPA entry areas.

It seems like a lot of stuff , But once you see how it all interacts at his levels Kodziro is showing in most of his trades. It really should start to click.

I spend a little time reading a few forums and books and now after time looking for these areas almost any entry no matter what the system is based around those areas. I have said it before i will say it forever. No matter what system you trade we are all looking at the same charts with the same price moving across them.

So incorporating good ideas into what your using now should be easy to do.

Just take what makes sense and build on it piece by piece.
Good Trading To All ; Ken Lee
  • #1,352
  • Jul 7, 2010 12:26pm Jul 7, 2010 12:26pm
Quoting Kenneth Lee
Might have a aisain drift off the pins around 11:00 eastern on the Gbp
I apologise if you've already covered this Ken but what exactly is Asian drift?
  • #1,353
  • Jul 7, 2010 12:47pm Jul 7, 2010 12:47pm
Quoting Trotty
I apologise if you've already covered this Ken but what exactly is Asian drift?

Around London fix time, Close of London equities and emd of day for commercial guys I guess.. We look for a trade that can at times reverse and just kinda drifts in one direction until Asian opens. this is another trade that happens enough to be consistent. It can be a reversal (takingprofits) or continuation . But we can see a entry Between 11:00 us eastern and 2:00 pm. Late evening for you guys.


E/j seems better with this at times GBP tends to retest and take you out then continue back.. Like it did today. Same if you get a entry early Asia you will see the yen pairs will normally travel good until London open but the GBP can be a bit more voliatile.
Good Trading To All ; Ken Lee
  • #1,354
  • Jul 7, 2010 12:55pm Jul 7, 2010 12:55pm
see how the second higher low on e/j went up with little resistance.
Good Trading To All ; Ken Lee
  • #1,355
  • Jul 7, 2010 1:40pm Jul 7, 2010 1:40pm
at the same time eu was hitting daily high ( so that correlation help me with this short )
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  • #1,356
  • Jul 7, 2010 1:47pm Jul 7, 2010 1:47pm
if price fall to previous ppa 110.40 I will go long at least for skalp

PS. Ken do you believe that we could get new high or candle closed beyond 2662 ( daily high EU ) at this time of session ( usually I trade with London session ) ?
  • #1,357
  • Edited 3:00pm Jul 7, 2010 2:46pm | Edited 3:00pm
Quoting Kenneth Lee
Around London fix time,...
Something I was never aware of. As an avid EJ trader, i'll keep my eyes peeled for this in future. Thanks again Ken.

NB - An extra vote just got this back to 5 stars. As pointless as it may be, it deserves that much!
  • #1,358
  • Jul 8, 2010 9:01am Jul 8, 2010 9:01am
USDCAD long, enter at 1.0386
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  • #1,359
  • Jul 8, 2010 9:13am Jul 8, 2010 9:13am
Quoting kodziro
USDCAD long, enter at 1.0386
You taking it directly of the daily or enter with lower time frame?
  • #1,360
  • Jul 8, 2010 9:51am Jul 8, 2010 9:51am
Quoting Storeball
You taking it directly of the daily or enter with lower time frame?
I swich to lower 4h/1h and look ppa near area of posiible turn if don`t see any trade with 15m pa
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