Ken's Continuing Successes with EO's system

Attached you can find my trading plan checklist which is a bit more detailed and maybe fits more the people who are new to this method.

Hello

Here`s another part of my 4h setups.

5.
a) Inside bars – I like and consider them mostly at Asia session or near start. After min 2 ib we trade at most high/low of the candles or top/bottom of the 0.00 GMT candle – first 4h candle of the asian session. Trade mostly at opposite direction to current swing, after breakouts with diretcion. Pay attention to the zero area and dbhlc as ib.


Cheers.

The first stuff I learned and using Pice Action for trading was the Inside Bar it was the only signal we looked for. Again the key was to look for it at key levels. The importance of a IB , Can be easly seen if you combine it with the previous canlde . as then it forms a nice wick..

Thanks for sharing your thinkng and trading ideas. Ken

"Quote of the day: 'Anyone who lives within their means suffers from a lack of imagination,' Oscar Wilde."

Great job, that definitely helps when you trading multiple pairs.

HOLLA

Thank you but the credits belong to EO and the crew (you are definitely a part of them ). My job was only copy&paste

Which company are you with?

I'm using Interbank FX Trader 4, but found out today my 200SMA is way off compared to FXDD.

FXDD: 5456

Interbank: 5285

Makes you wonder........

HOLLA

I get a difference between GFT and Oanda, because Oanda starts earlier on Sunday, So has more data but later in the week they are almost identical..

Plus might see if one is smooth and other is simple, Not sure what the difference is but sure there is one..

I have found that forex.com's MT4 is the closest (daily candle closes at 5:00 pm eastern) to Rumus2 and Oanda. With oanda I have excluded weekend and setup the time to close at 17:00 on Friday and start up at 12:00 on Sunday. This is how Pippinole showed me to setup my Oanda. It does change my MA's a bunch. That is how I noticed it. Pippi would tell me to look at a MA and it would be off the chart. I don't know if that will help anyone or not. I wonder if one broker or another makes different trading systems work better or not. I know that it does make a difference when I am working with Pippi as he will see a pin or IB ..etc. and if I am not using the same platform it will be totally different. This is a question I am curious about though. I really love MT4 but I have had some problems using it because the candles form differently.

Interbank uses the Asian open as the end of day. FXDD uses 5pm est, which I like so much better. Makes a difference on that daily close candle, plus those 100/200sma's on the daily have a huge gap in between.

Time to switch

HOLLA

Todays fibo trades

Hello

I can draw many 4h ppa line there ,but those who are tested at least twice ( psych. lines ) usually plays key role.

Cheers.

The only I would add to the Golden Rule at the top of the page is: DON'T BUY INTO RESISTANCE OR SELL INTO SUPPORT.

Just my two pips.

HOLLA

See how the price test the PPA on GU H4

Got major MA there also, I love that kind of levels. Later on large pinbar with close under ppa supporting short positions.


I like when price fail to make new high/low and stays with ppa line- buying or selling on pullback is always in option. ( check u/c 4h chart )

Hi Kodziro

From what I can tell. You do a lot of high time frame positions. What do you use for a trigger to enter your position?

Rufus

Hello Rufus

In general i look for important s/r ( tested more than 2 times ) or some PA testing some ppa , i trade with them directly with confluence of major MA or fibo levels or after PA with pullback to them. In the earlier example U/C my entry was at high of that 4h range ( green line )
I like trade with weekly pivots also- I look there for reversal. Enter after PA 1h or 4h with pullback or at end of the wick of PA.

Cheers

When your reading other threads try and spot the s/r-ppa areas and how they come into play with other peoples strategies. Once you start to see the corelation of how Price Action is the key to every good system you can start to get a better understanding which entries have the better chance to work out.

Sorry it isn't a old chart , not sure where I got that from... LOL

Tks Ken,

Really true that PA is the only thing we should stick to, no matter whats the system we used.

Eric

Good Morning , Hope everyone is having a great weekend. I continue on my quest to become the trader I really want to be . As I have stated in the past I no longer look for any other trading ideas as there is nothing better than being able to read the charts and make our choices without the influence or confusion of other things that may cause us to second guess ourselves.

I was reading through a few posts lately on different threads, and a few things caught my attention. One being the time required to learn and become profitable in this market. So many like to imply that it is the same as any profeesional filed taking as long as a 4 to 8 year degree would require to achieve. I was reading one such pot , then in the next or the one after the same person who said that it had taken them 4 or 5 years to achieve consistency, Then stated they wasted 2 or 3 years chasing the perfect indicator based system.

So do we include the wasted time and the time used to unlearn bad information or habbits. I believe it is all in the person trying to learn this. The perfect example of a person that took to this like a duck to water . Did so with such ease and precision it is hard to imagine it could be that easy. i would say from start of a live account to consitent profitablity was maybe 3 or 4 months maybe been less. of course this isn't the norm but does show that it is possible to achieve. They studied on demo i believe about 6 months prior to going life.

So what is the difference between those that can with seeminglly such ease and us that after 2 or more years continue to yo-yo around. Knowing full well the rules and methods to make good and at time great trades. So that was my first relevant point the time it takes maybe related more to the following point than to a actual rquirement of time put into it.

There are plenty that have put massive amounts of time into schooling that ended up with no more education than when they started , The same goes to the top of the class that may have put in less time because of a desire or drive that is not part of each of us. So bottom line is learn as best you can and don't force the end results. They will appear when your ready and there will be no doubt that you have arrived.

Think I will break this into more than one post.