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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

  • #1,741
  • Sep 18, 2010 4:51pm Sep 18, 2010 4:51pm
uch
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  • #1,742
  • Sep 19, 2010 3:06pm Sep 19, 2010 3:06pm
Ken,

You said that sessions' breakouts are EO's favourites trades earlier in this thread. I am interested in times when should I start to look for breakouts and how long is the period when I should look for defining a high and a low of the range.
  • #1,743
  • Sep 19, 2010 5:45pm Sep 19, 2010 5:45pm
Hey guys, here's the rough draft of a daily trading sheet I've been working on. It's meant to combine a daily trading log with an "entry checklist" to ensure that there's a confluence before entering trades.

Most of it is self-explanatory except the parts that say "Pattern/Setup", "Area Confirmation", and "Final Confluence". The purpose of these sections is to circle one of each for the trade. So if the pattern/setup is a series of swings I would circle swinging, then if the area I was going to reverse was the top of a channel I'd circle channel on the "Area Confirmation" section, then I'd circle whatever was the final factor that made me enter the trade in the "Final Confluence" section (maybe a pinbar on the 15m which would be Candlestick/PA, or maybe a touch of the H1 62EMA which would be MA Touch).

I'm not sure of the .doc file is going to be formatted properly because it was originally made in open office (and then I saved it in .doc because it wouldn't let me upload an open office file). Hopefully it will because I know that if anyone uses this they'll want to make some changes to it.
Attached File(s)
File Type: pdf Daily Trading Sheet.pdf   53 KB | 595 downloads
File Type: doc Daily Trading Sheet.doc   145 KB | 339 downloads
  • #1,744
  • Sep 19, 2010 5:50pm Sep 19, 2010 5:50pm
I was just thinking, it would probably be very helpful to have a daily reference sheet on all the pairs as well. For example, compile a list of all the pairs which have reasonable spreads (5-6 pips or lower), and then have a series of check boxes next to each pair -- swinging (price is trending well), ranging, channel (price is in a channel), near key level, etc. This way you know which pairs to look at on a daily basis and which to completely ignore. I'm going to try and make a rought draft of this as well.
  • #1,745
  • Sep 19, 2010 6:16pm Sep 19, 2010 6:16pm
Okay, here's what I was thinking.. an "Entry Cheat Sheet", to help with following a bunch of different pairs. Since the 1H and 4H timeframes move so slowly, a pattern isn't going to emerge out of nowhere. Updating the sheet once or twice per session would let you know what to watch and what to ignore. If you have a check in one of the purple boxes you'd know to watch a pair and if you had a check in both the purple and yellow boxes you'd know to watch a pair very closely for a PA entry signal (pinbar, hangman, hammer, MA touch, etc).
Attached File(s)
File Type: pdf Entry Cheatsheet.pdf   42 KB | 504 downloads
  • #1,746
  • Sep 20, 2010 4:33am Sep 20, 2010 4:33am
1h ppa line and fibo near, enter with 15m shooting star or at this line after first 1h candle candle close under it
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  • #1,747
  • Sep 20, 2010 4:37am Sep 20, 2010 4:37am
Hi all!

Hope everyone had a good weekend and are off to a good start

Here was a trade on gu earlier. Not normally a trade I will take, but we got 3 consecutive inside bars here and when price tightens up like that it will quite often break pretty hard. I was only looking to take the break of this one if it broke short. Entered at the break of the last inside bar.

Exited a bit early for 20+, was thinking it would atleast retest the asian low before continuing down but it flew outof there

Mongolia seems like good stuff, def going to check it out later.
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  • #1,748
  • Sep 20, 2010 4:53am Sep 20, 2010 4:53am
Quoting kodziro
1h ppa line and fibo near, enter with 15m shooting star or at this line after first 1h candle candle close under it
Nice one man! I actually had a failed long at that area, the ppa line there fell below my radar. Thanks for putting it up!
  • #1,749
  • Sep 20, 2010 7:36am Sep 20, 2010 7:36am
Quoting aljosas
Ken,

You said that sessions' breakouts are EO's favourites trades earlier in this thread. I am interested in times when should I start to look for breakouts and how long is the period when I should look for defining a high and a low of the range.
Im sure Ken will come in when he has a chance. But just closed out a coupple of pips on a breakout of ej. Broke out of tl and and consolidation, some will buy at the break of the line, i like to wait for the pullback. I closed out to early again though
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  • #1,750
  • Sep 20, 2010 7:42am Sep 20, 2010 7:42am
Quoting Storeball
Nice one man! I actually had a failed long at that area, the ppa line there fell below my radar. Thanks for putting it up!
Try to pay more attention at 1h/4h tf. Have patience. Long entry earlier after brekout at 1.3083 was nice.
  • #1,751
  • Sep 20, 2010 7:55am Sep 20, 2010 7:55am
Quoting kodziro
Try to pay more attention at 1h/4h tf. Have patience. Long entry earlier after brekout at 1.3083 was nice.
Absolutely. I just missed it though, had allready gone a coupple of pips + so didnt want to jump in. Probably why I was eager to pull the trigger on the next oppertunity, i get like that sometimes. It was rejected nicely by the 10sma as well.
  • #1,752
  • Sep 20, 2010 8:51am Sep 20, 2010 8:51am
Quoting dr mongolia
Okay, here's what I was thinking.. an "Entry Cheat Sheet", to help with following a bunch of different pairs. Since the 1H and 4H timeframes move so slowly, a pattern isn't going to emerge out of nowhere. Updating the sheet once or twice per session would let you know what to watch and what to ignore. If you have a check in one of the purple boxes you'd know to watch a pair and if you had a check in both the purple and yellow boxes you'd know to watch a pair very closely for a PA entry signal (pinbar, hangman, hammer, MA touch, etc).

Nice , PDF's, Thanks for sharing. That falls in line with what some
of the guys had been looking for a kind of grading system to give a value to the trades possiblities.

Maybe I will work on that , Be on similiar lines but. say a PPA line off a daily or 4 hr would have a higher value than 15 min or 1 hr. If it falls within the trading zone ( Fib Level) the different level would add value . With the trend on higher charts more. So in theory we should be able to just add up the score and ones over a certian value would be A+ less risk .

Then higher risk as the value drops. Plus you could adjust values depending on time of day. late sessions trading lines and channels off a 15 min can be great , When those fail during times of higher volume.

Just some thoughts.

Again Love the sheets. They are great, also for reviewing at the end of the day or week because they let you rememeber what your thought process was .

Many Thanks Ken
Good Trading To All ; Ken Lee
  • #1,753
  • Sep 20, 2010 12:33pm Sep 20, 2010 12:33pm
Yeah I think everyone is ultimately after some sort of grading system, or at least some way to size up your current trading opportunities and compare them to each other. Personally, I've realized that when I only trade 3 pairs I start "seeing mirages" and taking trades that I really shouldn't take. Comparing/grading a bunch of different opportunities against each other makes a big difference, especially on the longer time frame trades.

Obviously everyone should work on developing iron discipline/patience, but in the meantime why not structure the trading routine so that it requires the least amount of discipline possible to be profitable. I think that always comparing trading opportunities to each other before each entry is a good start on that.
  • #1,754
  • Sep 21, 2010 2:05am Sep 21, 2010 2:05am
Morning all!

Got in my first on eu for 10pips. Broke out of consolidation and trendline, pulled back created a ib and i entered at the break. Pretty similar to the breakout yesterday.

Hope everyone is in for a great day!
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  • #1,755
  • Sep 21, 2010 2:44am Sep 21, 2010 2:44am
Quoting Storeball
Morning all!

Got in my first on eu for 10pips. Broke out of consolidation and trendline, pulled back created a ib and i entered at the break. Pretty similar to the breakout yesterday.

Hope everyone is in for a great day!
Morning.

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

Notice that ppa line 1.3096 was the reason of this consolidation. ( look at 1h ). 1h tf IB`s indicate for short there.
  • #1,756
  • Sep 21, 2010 2:58am Sep 21, 2010 2:58am
Quoting kodziro
Morning.

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

Notice that ppa line 1.3096 was the reason of this consolidation. ( look at 1h ). 1h tf IB`s indicate for short there.
Thanks man! After you comment last night im more vary of the htf so i had that noticed , the 1h was actually why i closed it pretty early as well, didnt have much room to go and toghether with the daily pivot on 15 min it seemed reasonable.
  • #1,757
  • Sep 21, 2010 5:22am Sep 21, 2010 5:22am
Running back and forth making some eggs and bacon I noticed and got in on this setup on eu. Almost a rerun from yesterday

3 inside bars on 15min that eventually broke short. Got nice ppa line on 1h and exited on the first old swing high we hit on the 1h as well for a little under 10pips.
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  • #1,758
  • Sep 21, 2010 6:26am Sep 21, 2010 6:26am
Quoting Storeball
Running back and forth making some eggs and bacon I noticed and got in on this setup on eu. Almost a rerun from yesterday

3 inside bars on 15min that eventually broke short. Got nice ppa line on 1h and exited on the first old swing high we hit on the 1h as well for a little under 10pips.

http://cdn.forexfactory.com/images/icons/icon14.gif Next time don`t forget to take long at old swing high (hh) 1.3121 at least for quick scalp. 1h candle close over it. This is natural trade.
  • #1,759
  • Sep 21, 2010 6:43am Sep 21, 2010 6:43am
Quoting kodziro
http://cdn.forexfactory.com/images/icons/icon14.gif Next time don`t forget to take long at old swing high (hh) 1.3121 at least for quick scalp. 1h candle close over it. This is natural trade.
That is true, never really given that much thought for some reason.. As you said it is actually pretty natural, im getting out there because i think price will struggle to go below, so quite clearly, lol, that means it could go higher. The eu also gave a hammer for a safer entry.

Having that thought process, not only where you might consider getting out, but also consider that same place a place for your next setup is interesting. I allways watch the charts examples from ken and eo, where one trade just leads directly into another, im allways in awe, its so smooth.

Thanks for the tip! You dont know how much i appreciate it!
  • #1,760
  • Sep 21, 2010 6:57am Sep 21, 2010 6:57am
Quoting Storeball
That is true, never really given that much thought for some reason.. As you said it is actually pretty natural, im getting out there because i think price will struggle to go below, so quite clearly, lol, that means it could go higher. The eu also gave a hammer for a safer entry.

Having that thought process, not only where you might consider getting out, but also consider that same place a place for your next setup is interesting. I allways watch the charts examples from ken and eo, where one trade just leads directly into another, im allways...

Instead of looking for a exit ,, ALWAYS be looking for your next entry, Should be the same spot. If you study EO's different entries. they FLOW from one to the next at all the different areas..

Good going on the trades ....

Infinity was the best at this . almost always reversing instead of exiting..
Good Trading To All ; Ken Lee
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