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

  • #1,381
  • Jul 13, 2010 5:48am Jul 13, 2010 5:48am
Hereis that channel again later veiw. 1 hr e/j Nice Asian drift up till Asia open and a nice reversal signal at converging lines ppa and that trendline. pin on 1 hr and back to botom of channel 200 sma.

Now the question is will continue down and hit the daily lower channel ? another 400 pips.
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Good Trading To All ; Ken Lee
  • #1,382
  • Jul 13, 2010 5:53am Jul 13, 2010 5:53am
Quoting Kenneth Lee
have some chnels on e/j hrly is about 100 pips wide daily is about 500. Took a short off the top for another 20. entry was early as well as exit..hehe but got another 20 towards goal.
Yea, that was a simple clean trade. Still got the 2d half of it open and let her do her thing.
  • #1,383
  • Jul 13, 2010 5:58am Jul 13, 2010 5:58am
Hi ken, excellent thread my friend
Thank You
  • #1,384
  • Jul 13, 2010 8:06am Jul 13, 2010 8:06am
Sorry been out running errands.

The higher lows gave warning to the possiblity of a turn on e/j
We had two on the 15 min and when the 1 hr confirmed . maybe should have exited and waiit for a new short entry instead of giving back 70 or 80 pips
Plus the break of the 10 ema on the 1 hr is. a very good ma to use to manage longer trades.

price is sitting right on the 61.8% fib at the moment. aligned with the 62 ema but above the 35/50 on the 15 min but still a short on daily .

Can I make it any more confusing ?? Don't think so. I am waiting for a signal no jumping here with this confusion on this pair.

Trade Safe Ken
Good Trading To All ; Ken Lee
  • #1,385
  • Jul 13, 2010 8:30am Jul 13, 2010 8:30am
another 15 pips and we will retest that upper trendline on our channel again. That was the first clue it bounced off the lower one.

5 legs in that channel of course you can't see the first ones except in hindsight..
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Good Trading To All ; Ken Lee
  • #1,386
  • Jul 13, 2010 8:38am Jul 13, 2010 8:38am
Double bottom Thoughts..
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Good Trading To All ; Ken Lee
  • #1,387
  • Jul 13, 2010 8:54am Jul 13, 2010 8:54am
Quoting Kenneth Lee
Sorry been out running errands.

Can I make it any more confusing ?? Don't think so. I am waiting for a signal no jumping here with this confusion on this pair.

Trade Safe Ken

You've nicely summed up the trials and tribulations of a trader who is very nearly getting this way of trading after 8 months of learning the business.

I have days when it all seems so clear and then days where every time frame seems to give me a different perspective and I end up not doing anything through utter confusion!

The clear days can sometimes lure you into a false sense of security, an aspect of trading that i've seen few touch on but certainly a real hidden danger in my view.

How's the new plan coming along mate?
  • #1,388
  • Jul 13, 2010 9:03am Jul 13, 2010 9:03am
This candle on the 4hr made everything very clear!

Attached Image (click to enlarge)
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  • #1,389
  • Jul 13, 2010 9:04am Jul 13, 2010 9:04am
Quoting Trotty
You've nicely summed up the trials and tribulations of a traders who is very nearly getting this way of trading after 8 months of learning the business.

I have days when it all seems so clear and then days where every time frame seems to give me a different perspective and I end up not doing anything through utter confusion!

The clear days can sometimes lure you into a false sense of security, an aspect of trading that i've seen few touch on but certainly a real hidden danger in my view.

How's the new plan coming along mate?
I haven't actually started it other than in my mind , But would be very up so far. It may help to ground me a bit as well. Then only risk in that second account. but have concerns of that as well. Like last night I was closed e/j to soon thinking I had gained another days towards the goal and if I had just targeted the lower line it would have been another weeks.

But all good. It was above the 35/50 and I closed on the 21 ema irt did bounce there but stop was never in jeopardy even BE stop.

I know from past exprience that as the account growss that letting them run also becomes easier. That is the idea about being conservavtive to get there.


Plus if your only looking for 20 a day you will look for good setups. That can only help any trader. ..

E/j may break that upper line .. i see
Good Trading To All ; Ken Lee
  • #1,390
  • Jul 13, 2010 9:08am Jul 13, 2010 9:08am
Quoting PippiNole
This candle on the 4hr made everything very clear!

Attachment
yes sir ,, Loads of reasoning to close that.. I am using Oanda again .. ( NO 4 hr.. hehe )

need to start a e-mailing campiagn to have them add that .


I hope you and your family are well.

I know your kicking butt trading.

Take care Ken
Good Trading To All ; Ken Lee
  • #1,391
  • Jul 13, 2010 9:12am Jul 13, 2010 9:12am
Quoting PippiNole
This candle on the 4hr made everything very clear!

Attachment
Waiting to next M15 candle to tell we short? The upper channel is arrived.
  • #1,392
  • Jul 13, 2010 9:16am Jul 13, 2010 9:16am
Quoting Kenneth Lee
I haven't actually started it other than in my mind , But would be very up so far. It may help to ground me a bit as well. Then only risk in that second account. but have concerns of that as well. Like last night I was closed e/j to soon thinking I had gained another days towards the goal and if I had just targeted the lower line it would have been another weeks.
I would love to have a similar plan but the problems start when your first trade nets you a loss, then your second, then your third. Now you need 50 pips!

If you're a master of entries, I can't see how you can fail. If you have an unpredictable history of entries, daily profit targets are minefield!
  • #1,393
  • Jul 13, 2010 9:52am Jul 13, 2010 9:52am
Quoting Kenneth Lee
yes sir ,, Loads of reasoning to close that.. I am using Oanda again .. ( NO 4 hr.. hehe )

need to start a e-mailing campiagn to have them add that .


I hope you and your family are well.

I know your kicking butt trading.

Take care Ken
Download Rumus from FXClub for 4hr charts.

Everyone is well here and I hope the same for you!
  • #1,394
  • Jul 13, 2010 9:55am Jul 13, 2010 9:55am
Quoting Trotty
I would love to have a similar plan but the problems start when your first trade nets you a loss, then your second, then your third. Now you need 50 pips!

If you're a master of entries, I can't see how you can fail. If you have an unpredictable history of entries, daily profit targets are minefield!
Might need to fine tune your strategy first. If I take two losses in a row I am a bit worried .. 3 and I am terrified. Most good traders will quit for the day after 2 in a row . As it can be something emotional not even related to trading..

Just my two cents worth. Keep at it if you have a true desire it will happen. It is just like anything else just takes some time to learn. Then we start to see it. Till one day it is how could we have not seen this in the beggining.

If you never have read Trading in the Zone . Might want to shows us some of the reasons we do what we do. unknowingly ..

You will get there just preserve your capital. Because there is nothing worse than getting it and not having anything left to trade with. I Know..


Trade Happy Ken
Good Trading To All ; Ken Lee
  • #1,395
  • Jul 13, 2010 10:07am Jul 13, 2010 10:07am
Quoting PippiNole
This candle on the 4hr made everything very clear!

Attachment
Oh forgot Thanks for posting the chart...

Yes all fine here.. yeah i have Rumus downloaded and still GFT for 4 hr.
Good Trading To All ; Ken Lee
  • #1,396
  • Jul 13, 2010 10:18am Jul 13, 2010 10:18am
Quoting Kenneth Lee
Might need to fine tune your strategy first. If I take two losses in a row I am a bit worried .. 3 and I am terrified. Most good traders will quit for the day after 2 in a row . As it can be something emotional not even related to trading..

Just my two cents worth. Keep at it if you have a true desire it will happen. It is just like anything else just takes some time to learn. Then we start to see it. Till one day it is how could we have not seen this in the beggining.

If you never have read Trading in the Zone . Might want to shows us some...
Excellent advice that could serve many well.
  • #1,397
  • Jul 13, 2010 11:50am Jul 13, 2010 11:50am
took a short off the first pin got stopped re entered at the very top off ppa way back that had formed a pin and made my loss back
so just up my 20 for the day. If I had been trading the two accounts the loss would have been in the second account. See how that will work .
Haven't started the actuall equity building yet but soon ..


Trade safe guys Ken


HEY, and be HAPPY ...

oops e/j LOL
Good Trading To All ; Ken Lee
  • #1,398
  • Jul 13, 2010 1:16pm Jul 13, 2010 1:16pm
Quoting Kenneth Lee
another 15 pips and we will retest that upper trendline on our channel again. That was the first clue it bounced off the lower one.

5 legs in that channel of course you can't see the first ones except in hindsight..
A bit late, but just want to appreciate. Got few pips from top down of the upper channel on EJ.

Cheers
City
  • #1,399
  • Jul 14, 2010 6:43am Jul 14, 2010 6:43am
I took this trade on EJ. It was hitting resistance on H4 and H1 and starting to look bearish. I waited for what I thought might be a valid entry and I got this pin just coming away from the 50 ema on M15. Took the trade but ended up coming out as price began to consolidate at the trendline it broke yesterday. I got edgy and as I had around 1:1 R/R, I took profit.

Time will tell if it was an early exit I guess, I sense it probably was.
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  • #1,400
  • Jul 14, 2010 8:07am Jul 14, 2010 8:07am
Quoting Trotty
I took this trade on EJ. It was hitting resistance on H4 and H1 and starting to look bearish. I waited for what I thought might be a valid entry and I got this pin just coming away from the 50 ema on M15. Took the trade but ended up coming out as price began to consolidate at the trendline it broke yesterday. I got edgy and as I had around 1:1 R/R, I took profit.

Time will tell if it was an early exit I guess, I sense it probably was.

Nice Trade.
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Good Trading To All ; Ken Lee
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