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Ken's Continuing Successes with EO's system

  • #1,401
  • Jul 14, 2010 6:14am Jul 14, 2010 6:14am
Quoting Kenneth Lee
Nice Trade.
Cheers Ken. Turns out, you were spot on. It broke and then retested the level, you may or may not have collected a few more pips before the news spiked it around. I didn't re-enter.
  • #1,402
  • Jul 14, 2010 6:30am Jul 14, 2010 6:30am
Quoting Trotty
Cheers Ken. Turns out, you were spot on. It broke and then retested the level, you may or may not have collected a few more pips before the news spiked it around. I didn't re-enter.
if you look back you can see almost 100% of the time when price starts building a shelf like that it will retest if it breaks . Or if the buyers come in turn. It is learning to see it for what it is that is important.

I like to think taking the gains is ok . but if we miss the re-entry maybe not .. This is why once your in a trade and it stalls you draw some lines incompassing that level if it closes above wait for a possible retest and get out or reverse / if it breaks lower maybe add on but wih a very tight stop.

I know your entry was pretty close so those options weren't really available to you. But just covering the basic ideas of trade management at this particualr point.

Still any positive trade is a great trade.
Good Trading To All ; Ken Lee
  • #1,403
  • Jul 14, 2010 6:47am Jul 14, 2010 6:47am
You are the right person, this is the right time, you've paid your dues, you're thinking the right thoughts, you're doing the right things, and this very moment, you are exactly where you're supposed to be... poised for the happiest time of your life.

Note from the Universe.. Things I get in my E-Mail everyday. This was just a good one.
Good Trading To All ; Ken Lee
  • #1,404
  • Jul 14, 2010 6:59am Jul 14, 2010 6:59am
Nice
  • #1,405
  • Jul 14, 2010 7:22am Jul 14, 2010 7:22am
Quoting Kenneth Lee
if you look back you can see almost 100% of the time when price starts building a shelf like that it will retest if it breaks . Or if the buyers come in turn. It is learning to see it for what it is that is important.

I like to think taking the gains is ok . but if we miss the re-entry maybe not .. This is why once your in a trade and it stalls you draw some lines incompassing that level if it closes above wait for a possible retest and get out or reverse / if it breaks lower maybe add on but wih a very tight stop.

I know your entry was...
I think good trade management come some way down the road after good entries for most people. At the moment i'm just happy with a larger % of good entries and 1:1 minimum outcomes. If I can manage them for a bit more, from time to time, all the better!
  • #1,406
  • Jul 14, 2010 7:34am Jul 14, 2010 7:34am
Quoting Trotty
I think good trade management come some way down the road after good entries for most people. At the moment i'm just happy with a larger % of good entries and 1:1 minimum outcomes. If I can manage them for a bit more, from time to time, all the better!

I agree it is hard to learn and do it all. But you need to try your best to do the rgiht things as you learn . because the failure of a lot of people is that they win sometimes doing the wrong things , which ingrains bad habbits. That in the overall big picture can be our failing..


But small gains are like baby steps .. we must crawl before we walk. Just don't try running first LOL
Good Trading To All ; Ken Lee
  • #1,407
  • Jul 14, 2010 7:40am Jul 14, 2010 7:40am
Anyone long with sup 112.08 and 1h 50 ma with fib zone ?
If you missed entry at bottom, later got 15 min divergence so taking trade at end of the wick of rejection candle (got also 200 sma there) usually is good idea
  • #1,408
  • Jul 14, 2010 7:53am Jul 14, 2010 7:53am
Quoting kodziro
Anyone long with sup 112.08 and 1h 50 ma with fib zone ?
If you missed entry at bottom, later got 15 min divergence so taking trade at end of the wick of rejection candle (got also 200 sma there) usually is good idea
Yes, catch a few from this double legs (H1), pin on H4, and also sat on Fib 50%, but early left
  • #1,409
  • Jul 15, 2010 2:23am Jul 15, 2010 2:23am
It happen again. EJ Nice candle rejection of area 111.83, and because of diverg buy order at end of the wick worked out and our stops is very tight.( great risk/reward ratio)
  • #1,410
  • Jul 15, 2010 2:30am Jul 15, 2010 2:30am
Quoting kodziro
It happen again. EJ Nice candle rejection of area 111.83, and because of diverg buy order at end of the wick worked out and our stops is very tight.( great risk/reward ratio)
hehe, I'm in the trades, a really aggressive approach
  • #1,411
  • Jul 15, 2010 3:30am Jul 15, 2010 3:30am
Hey Ken

I do very much appreciate your thread... i don't post very much, but i read carefully all the things that u and the other guys write all the time.
Moreover i noticed that u take very good care about the psychological side of trading.. which i think is very important, maybe one of the most effective tool in trading: sharp and focused mind with no greed nor fear.

I noticed that u published many pdf file and books that i always read, and they give very good insight and ideas.
I wanted to ask u about this last thing... if maybe u have some time, u can put all your pdf (books and articles) on the first page, so that everybody can easily view them. Moreover i wanted to ask u if u know a GOOD book about technical analysis, where it is well explained the use of trendline, and all the patterns that u can find by using them (triangles, rising wedges, flags and so on). I know there are tons of books about these stuff... but maybe u can advise some GOOD book

Thank u very much in advance... and even if people don't ask u questions about trading don't get frustrated... i (as many other guys) are the quiet majority who are here to learn and who are still "newbies", so that still feel too unsure about themselves, to post something on a thread

Well.. again, thank u in advance, and green pips to u
I don't want a job, i want money!
  • #1,412
  • Jul 15, 2010 6:18am Jul 15, 2010 6:18am
Quoting dario1002
Hey Ken

I do very much appreciate your thread... i don't post very much, but i read carefully all the things that u and the other guys write all the time.
Moreover i noticed that u take very good care about the psychological side of trading.. which i think is very important, maybe one of the most effective tool in trading: sharp and focused mind with no greed nor fear.

I noticed that u published many pdf file and books that i always read, and they give very good insight and ideas.
I wanted to ask u about this last thing... if maybe u have some...
I guess if I hd to recomend one book TODAY . It would be this one by

Ed Ponsi

Forex
Patterns and
Probabilities

Trading Strategies for Trending and
Range-Bound Markets

ED PONSI
I never put this PDF up because it is protected material. (Copyright) You cna find it on pdf on the internet. But it is nice to own hard copies of the god ones anyway , Plus used ones by the people who have given up are pretty cheap..

Anyway I just recently read this book and his ideas are very similiar to how I have been approaching my trading with explanations of why some of our Price Action accurres . Byt what the Commercial traders are thinking and doing. Like stop runs .

I don't place all the e-books I post in one spot as the majority of the infomation is irrelevent. Normally just a little freebie to add something to a particular topic we might be talking about. Like the the equity building Compounding schedule I am using borrowed from Robert. He wrote 4 e-books 3 on scalping that can be applied to getting those 20 pips a day, but also greater gains by holding.

They are free from his old website Rapid Forex. I have come across much information while learning to trade as you will. But it can be a curse not a gift as much of it can take you off course from your goal. Try to pick a style of trading we use Price Action here. Then focus on it.

If you start down that road of trying every different system from anyone you can find yourself way more confused than understanding this game.

It is funny as we all have our own approaches . I try and just show basic time honored trading ideas that work and will aways work. Without putting to much of my personal view into it. one reason don't post many trades.

So much of this trading is personal choices. To scalp for quick gains off 1 or 5 min charts to enter on those are maybe the 1 hr. To be happy with 10 pip gains or only look for 100. But just remmeber to keep a balance in whatever you do. Don't use stops for only 100 pip gains when only taking 10 all the time. It takes a lot of tens to make back 100 pip loss.

yes i am glad you find the thread useful, Bt don't worry if you don't think you know enough to ask a question . You could always PM as well , Though then the others who don't post lose out on that information as well.

Anyway just waffling here now so . Trade Well Ken
Good Trading To All ; Ken Lee
  • #1,413
  • Jul 15, 2010 6:31am Jul 15, 2010 6:31am
Quoting Kenneth Lee
I guess if I hd to recomend one book TODAY . It would be this one by

Ed Ponsi

Forex
Patterns and
Probabilities

Trading Strategies for Trending and
Range-Bound Markets

ED PONSI
I never put this PDF up because it is protected material. (Copyright) You...
Hey ken

thanks for the quick answer.. and for the book.. i will see where i can find it. Anyway i already passed the phases where i was looking for a method... i already chosed mine.. but i believe that the more u know (of the good stuff) the better it is. Plus... while i am in front of my screen waiting for a trade to develop... i don't like to play games.. or watch movies, i prefer to read a good book... about what i like.
So sometimes i will show up asking for some book to read, if i can. By the way... EU 1.2877 and GU 1.5390 are very good PPA level... and they are very close to some weekly resistence (respectively W2 and W3)... so now i will wait for this hourly candle to close and then will decide wether to load short or not.

Again, thank u very much
I don't want a job, i want money!
  • #1,414
  • Jul 15, 2010 2:08pm Jul 15, 2010 2:08pm
Got a great fortune cookie today,

" No problem can stand the assault of substained thinking "
Good Trading To All ; Ken Lee
  • #1,415
  • Jul 15, 2010 9:50pm Jul 15, 2010 9:50pm
Quoting Kenneth Lee
I guess if I hd to recomend one book TODAY . It would be this one by

Ed Ponsi

Forex
Patterns and
Probabilities

[left]Trading Strategies for Trending and[font=Century-BoldItalic][size=4]
[i][b][size=4][font=Century-BoldItalic]Range-Bound...
I have had this book on order now for two weeks. I am chomping at the bit to get it.

Not a cheap book either, mine was $47 new from half.com. The way I looked at it though is "What is the siize of my stop loss in relation to the cost of the book" the choice was then easy. Now I just need the book.

I have read far to many books about using indicators and what not. At one time I had so many indicators on my chart I forgot price. Was only looking at the nice pretty indicators. Chart patterns is right up my alley with how my brain cell works. To me price is king and price action is the chess board. Every move I make can be either with the precision of a brain surgeon or carelessly haphazard, without any thinking or planning. I like to think in terms of precision. Chart patterns and price action are that to me.

Good trading all. I always look forward to catching up on this thread when I get home from work.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,416
  • Jul 16, 2010 3:41am Jul 16, 2010 3:41am


So what if you don't have it yet, Guys ?

It's coming. You're gonna get it. You're gonna love it. And then you're gonna forget there was ever a time when you didn't have it.

Understanding Trading , That is. LOL, Funny How it corresponds to the above post .


Another note that was in my e-mail this morning.. so funny..
Good Trading To All ; Ken Lee
  • #1,417
  • Jul 16, 2010 7:43am Jul 16, 2010 7:43am
I'm so excited to have found this thread. I have studied Steve Nison's candlestick charting, and had been trying to figure out how to use other indicators with the candlesticks. I think this is the way to true profitable trading (which I hope to get there at some point.) The information you posted is very helpful, and I will be studying it.
  • #1,418
  • Jul 16, 2010 3:09pm Jul 16, 2010 3:09pm
Gonna be popping in alot more now Ken!

Awesome to see that things are now moving well for you.

Thread has taken off too I see!

Well done Sir.

If you are not 'fussy' about where you get your material there are some fantastic Steve Nison downloads available..... not that I would ever do that..... I was given mine as a present.... I just know the other ones exist!
  • #1,419
  • Edited 3:42pm Jul 16, 2010 3:17pm | Edited 3:42pm
Dario

I think I have broken one of your Bro rules.... from your link:

Article 3 : If a Bro gets a dog, it must be at least as tall as his knee when full-grown
COROLLARY: Naming a lapdog after a pro wrestler or a character from a Steve McQueen movie does not absolve a Bro from the spirit of this article
Attached Image (click to enlarge)
Click to Enlarge Name: DSC_0453 (2).jpg Size: 154 KB
  • #1,420
  • Jul 17, 2010 12:46am Jul 17, 2010 12:46am
Quoting leemonk
Dario

I think I have broken one of your Bro rules.... from your link:

Article 3 : If a Bro gets a dog, it must be at least as tall as his knee when full-grown
COROLLARY: Naming a lapdog after a pro wrestler or a character from a Steve McQueen movie does not absolve a Bro from the spirit of this article

eheheh the bro code is umbreakable....
oh well... what matter is that u keep all the other rules!!
I don't want a job, i want money!
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