Ken's Continuing Successes with EO's system | Page 87 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The System Behind the System, by Merlin Jeffries 16 replies

FX Trading Journal & Continuing Education (warrensapp) 2 replies

Continuing Direction following new Daily Low or High at Close 5 replies

Just basic question on trading successes 10 replies

Would you trade this system? New system #2. 10 replies

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

Ken's Continuing Successes with EO's system

  • #1,721
  • Sep 13, 2010 7:42pm Sep 13, 2010 7:42pm
Quoting dr mongolia
Ken, do you like people who are following your style to post their entries/exits in this thread or would you prefer a separate thread so as not to cloud up yours? I just realized I hadn't even asked. Sorry about that.

No need to ask it is what the threads are for. So we can all learn from each other. nice on your 10

Grabbed another 10 on a a/j short as well then it droped another 13.. oh well. wasn't a great entry anyway why I grabbed it. Neareer the top I might have held longer. But made up my loss from earlier so nothing earned nothing gained.
Good Trading To All ; Ken Lee
  • #1,722
  • Sep 13, 2010 7:56pm Sep 13, 2010 7:56pm
I'm waiting for the close on this E/J setup, but that 15M wick is huge.. and on the 1HR the wick hit a trendline, S/R area, and is right on the 62/50EMA

EDIT -- good thing I waited for the close; waiting for another signal
  • #1,723
  • Sep 14, 2010 11:50am Sep 14, 2010 11:50am
Guys,

This one got me today. The E/J had a long run up and then produced the hangman that is circled on the 15M chart. I entered on the open of the next candle with a SL of 20 pips and was stopped out a few candles later. The body of the hangman is a little larger than normal on this feed but its still 2X the wick. On the feed that I trade off of the body is even smaller.

I'm trying to focus on these failed trades to figure out where I go wrong. I've found that all of my missed trades happen at the same time -- I take a reversal, and the price isn't ready to reverse. Is it simply a matter of giving the HTFs more consideration when taking these reversal trades? Looking back, I could say that price had just broken out of the daily range, and so a reversal pattern is likely to slow the momentum down but not stop it completely. Any other ideas?

I'm trying to come up with some trading rules to keep me from hitting these "fake reversals", or "early reversals".

Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: failed trade 15m.png Size: 18 KB
Click to Enlarge Name: failed trade 1hr.png Size: 14 KB
  • #1,724
  • Sep 14, 2010 12:55pm Sep 14, 2010 12:55pm
Quoting dr mongolia
Guys,

This one got me today. The E/J had a long run up and then produced the hangman that is circled on the 15M chart. I entered on the open of the next candle with a SL of 20 pips and was stopped out a few candles later. The body of the hangman is a little larger than normal on this feed but its still 2X the wick. On the feed that I trade off of the body is even smaller.

I'm trying to focus on these failed trades to figure out where I go wrong. I've found that all of my missed trades happen at the same time -- I take a reversal, and the...
Hey man!

In my opinion, I would at least for me want a little more confluence before picking the top here. If you look back on your chart there, price had just pushed through yesterdays high, so that hangman is more of a retest of that area then anything else. At least for me.

In general though im allways careful when going against the trend, and following a strong push up like that i would want some solid resistance to go with the pin at very least. Im talking from my own experience here though.

Anyways nice to see some charts on the thread here again
  • #1,725
  • Edited 3:19pm Sep 14, 2010 3:06pm | Edited 3:19pm
Hello again guys, gals, ken!

Its been touched upon a little while back on a score card for our trading. That was something i'v been thinking about for a while as well, the intention being that it could make me a more mechanichal trader, a more emotion free trader, which is where we all should aim to be.

So iv been playing around with creating one, this is not done and need some tweaking and perhaps an addition or two, but i thought I could put it out there for you guys to review and get some input. So definately feel free to change it up as you might see fit.

Its pretty straightforward, firstly on the card, iv listed up what sums up all the things i'v got in my toolbox, which is just standard:

Pa - candlestick patterns, dblhc, dbhlc, pb, inside bars, outside bars. You score them based on how strong you think it is.

S & R - Again i let it up to you to decide how strong you think the area is, poor, medium, good.

Fib retrace. I use 38, 50, 68. Its the same score though, might be better to add more weight to the 50 and 68.

Trendline

Divergence

Moving average, what i put weight on is the 150 and 200.

So thats the first part. Second is what surrounds the trade, what you can expect if you get in.

Basically setting a score based on if your in a trend or fighting against it, if it has room to move or if its surrounded by price, consolidating.

I look at a score of at least 30 to enter.

For some reason I cant upload exel here, oh well, only difference is that it doesnt add up your score automatically.
Attached File(s)
File Type: doc Score card trading.doc   49 KB | 366 downloads
  • #1,726
  • Sep 14, 2010 3:45pm Sep 14, 2010 3:45pm
Quoting Storeball
In general though im allways careful when going against the trend, and following a strong push up like that i would want some solid resistance to go with the pin at very least. Im talking from my own experience here though.
Yeah, I think that's my problem -- sometimes I get in that "scalper" mentality even for big moves, instead of being patient and looking for confluence. I remember reading a quote from EO one time about a failed 15M signal when he said something like 'you have to look at the higher TFs first and realize that when a huge move is brewing, you need to put the small signals aside'. I need to get in the habit of always looking for the bigger moves first.

I'm about to check out your scorecard; that kind of thing is right up my ally because I've been trying to work out some details for my trading plan.. the more I trade the more I realize it's got a ton of holes in it.
  • #1,727
  • Sep 14, 2010 9:00pm Sep 14, 2010 9:00pm
Wow.. I hope someone caught that Yen movement. At this time of day, with no news, I'm guessing it was a central bank.
  • #1,728
  • Sep 15, 2010 12:19am Sep 15, 2010 12:19am
Quoting dr mongolia
Wow.. I hope someone caught that Yen movement. At this time of day, with no news, I'm guessing it was a central bank.
This is what I read on the local news..

http://www.theage.com.au/business/ma...915-15btx.html

Btw, I think the system PDF link on the first page is broken. Could someone please point out to me the proper link? I just need the indicator setups..

Thanks..
BC
  • #1,729
  • Sep 15, 2010 12:49am Sep 15, 2010 12:49am
Quoting blackcat2
This is what I read on the local news..

http://www.theage.com.au/business/ma...915-15btx.html

Btw, I think the system PDF link on the first page is broken. Could someone please point out to me the proper link? I just need the indicator setups..

Thanks..
BC
Cant upload the pdf, its to big. But it should be in the zip file on the front.

If by indicator you mean the moving averages, which is pretty much what is used besides ppa and pa then they are:

15min:
5ema, 10ema, 21ema, 35sma, 50ema and 200sma
1hr:
10sma, 50sma, 62ema and 200sma
4hr:
5sma, 10sma, 50ema and 150ema
Daily:

5sma, 35sma and 50ema
  • #1,730
  • Sep 15, 2010 2:32am Sep 15, 2010 2:32am
Quoting dr mongolia
Wow.. I hope someone caught that Yen movement. At this time of day, with no news, I'm guessing it was a central bank.
Yep, it was huge move. I caught some at U/J with weeklyS2 to weeklyS1 while I was sleeping. Maybe if i was by the chart i would hold them more.
  • #1,731
  • Sep 15, 2010 9:34am Sep 15, 2010 9:34am
Quoting blackcat2
This is what I read on the local news..

http://www.theage.com.au/business/ma...915-15btx.html

Btw, I think the system PDF link on the first page is broken. Could someone please point out to me the proper link? I just need the indicator setups..

Thanks..
BC
Sorry Just went and looked it was a bit confusing. Now a bit clearer made the link bigger to match the . Read PDF statement.. LOL
Good Trading To All ; Ken Lee
  • #1,732
  • Sep 15, 2010 6:31pm Sep 15, 2010 6:31pm
@Kenneth & Storeball: Thanks ^_^

I'm still catching up with the material and thread posts, hopefully won't take long for me to start contributing to the thread..

Cheers..
BC
  • #1,733
  • Sep 17, 2010 4:00am Sep 17, 2010 4:00am
Nice solid entry on EU. Lot of things pointing for it to go higher here. Nice uptrend, breaks the r1 and pullsback to the 50fib which is exactly at the pivot line, creates a pb and it doesnt close below 10ma (blue line).

How the 10ma reacts with price is really interesting and im trying to implement that more in my trading, not only for trade management but also entry wise. Bkg over at the old trade what you see thread has a short post on how he takes trades from the 10sma.
Attached Image (click to enlarge)
Click to Enlarge Name: pin10sma.gif Size: 28 KB
  • #1,734
  • Sep 17, 2010 4:08am Sep 17, 2010 4:08am
Just noticed almost the same exact setup occured on gu. Missed it as I was watching the eu Not quite as clear cut, but again you can see how price interacted with the 10sma and it gave us a nice entry pin.
Attached Image (click to enlarge)
Click to Enlarge Name: gupin10sma.gif Size: 29 KB
  • #1,735
  • Sep 17, 2010 5:07am Sep 17, 2010 5:07am
Quoting Storeball
Nice solid entry on EU. Lot of things pointing for it to go higher here. Nice uptrend, breaks the r1 and pullsback to the 50fib which is exactly at the pivot line, creates a pb and it doesnt close below 10ma (blue line).

How the 10ma reacts with price is really interesting and im trying to implement that more in my trading, not only for trade management but also entry wise. Bkg over at the old trade what you see thread has a short post on how he takes trades from the 10sma.

Nice one http://cdn.forexfactory.com/images/icons/icon14.gif.

I`m holding short 1.5720 at GU after second 1h inside bar.
I see strong resistance at EU with weekly R3 and monthly R1 pivot - 1.3150 and 4h trend line.
  • #1,736
  • Sep 17, 2010 5:59am Sep 17, 2010 5:59am
Quoting kodziro
Nice one http://cdn.forexfactory.com/images/icons/icon14.gif.

I`m holding short 1.5720 at GU after second 1h inside bar.
I see strong resistance at EU with weekly R3 and monthly R1 pivot - 1.3150 and 4h trend line.
I was thinking on joining the gu short when the price came back and barely missed the r2 line, chickened out though as im not to confident on touch trading yet. I think its going to struggle to go any further south now though with r1 and resistance zone just below.
  • #1,737
  • Sep 17, 2010 6:22am Sep 17, 2010 6:22am
Quoting Storeball
I was thinking on joining the gu short when the price came back and barely missed the r2 line, chickened out though as im not to confident on touch trading yet. I think its going to struggle to go any further south now though with r1 and resistance zone just below.
Yes it may struggle at range high 1.5651 ( got tp there and got PO there for long). Don`t you think that is a good place for players to take profit there with their shorts or for take long positions ( trend is still up ) or just scalp and maybe when 15m pa form go long once more with min. risk.
  • #1,738
  • Sep 17, 2010 6:43am Sep 17, 2010 6:43am
Quoting kodziro
Yes it may struggle at range high 1.5651 ( got tp there and got PO there for long). Don`t you think that is a good place for players to take profit there with their shorts or for take long positions ( trend is still up ) or just scalp and maybe when 15m pa form go long once more with min. risk.
Definitely

I do admire you consistently tearing up the market with those pending orders! Seems to be working great for you.

Are you still mainly going with the htf? Or back to trading the 15min as well?
Attached Image (click to enlarge)
Click to Enlarge Name: guconf.gif Size: 32 KB
  • #1,739
  • Sep 17, 2010 7:15am Sep 17, 2010 7:15am
Quoting Storeball
Definitely

I do admire you consistently tearing up the market with those pending orders! Seems to be working great for you.

Are you still mainly going with the htf? Or back to trading the 15min as well?
I look for trade by looking at 4h and 1h mostly. Today when i got a free day also look at htf and trade my setups but this time got more control of my positions by looking at 15m tf.
  • #1,740
  • Sep 18, 2010 4:26am Sep 18, 2010 4:26am
Some 4h tf trades on E/J this week.
Attached Image (click to enlarge)
Click to Enlarge Name: ejpa.jpg Size: 170 KB
4 traders viewing now