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Ken's Continuing Successes with EO's system

  • #1,761
  • Sep 21, 2010 7:09am Sep 21, 2010 7:09am
Quoting Kenneth Lee
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..
Thanks Ken!

And definitely going to keep this in mind while trading for sure. I just went over and looked at the flash cards again, and the trades on page 41, man, its just sexy! Being able to come to that level of trading would be the ultimate
  • #1,762
  • Sep 21, 2010 9:16am Sep 21, 2010 9:16am
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.
Can anybody answer my question, please?
If the question is not clear I can express it in another words.
  • #1,763
  • Sep 21, 2010 9:53am Sep 21, 2010 9:53am
Quoting aljosas
Can anybody answer my question, please?
If the question is not clear I can express it in another words.

I weill get to it today , sorry not spending as much time on computor as i used too..


Just wanted to post some charts on it and takes a bit of time to do right...

bear with me.. Thanks Ken
Good Trading To All ; Ken Lee
  • #1,764
  • Sep 21, 2010 10:02am Sep 21, 2010 10:02am
Quoting aljosas
Can anybody answer my question, please?
If the question is not clear I can express it in another words.
I can give you MY take on it.

Session breakouts eo style usually occur after asian session going into london/frankfurt when the big boys start to throw some cash around. What you should normally look for is the consolidation period which normally happens during the asian session, you will often see price ping ponging back and forth, ranging between the ma or ppa lines, until it breaks one way or the other.

Here is a example from ej today.

You can see clearly price ping ponging back and forth, now when london opens we usually get a lot more action and volatility so a breakout can be expected, and when price creates a wedge within our ping pong range its an even greater sign that a breakout is about to occur. You can see it broke out of the wedge and horisontal line pretty hard.

This is atleast how I like to look at it. Probably not 100% but thats why I said it was my own personal take on it
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  • #1,765
  • Sep 21, 2010 10:04am Sep 21, 2010 10:04am
Quoting Kenneth Lee
I weill get to it today , sorry not spending as much time on computor as i used too..


Just wanted to post some charts on it and takes a bit of time to do right...

bear with me.. Thanks Ken
Didnt see Kens post as I was posting. That should be about 100x better then my explanation and about the same 100x in correctness
  • #1,766
  • Sep 21, 2010 10:06am Sep 21, 2010 10:06am


Edit: though it may not be 100x as Ken say, it is my view too.

Quoting Storeball
I can give you MY take on it.

Session breakouts eo style usually occur after asian session going into london/frankfurt when the big boys start to throw some cash around. What you should normally look for is the consolidation period which normally happens during the asian session, you will often see price ping ponging back and forth, ranging between the ma or ppa lines, until it breaks one way or the other.

Here is a example from ej today.

You can see clearly price ping ponging back and forth, now when london opens we usually get a...
  • #1,767
  • Sep 21, 2010 10:31am Sep 21, 2010 10:31am
Quoting Buildcity


Edit: though it may not be 100x as Ken say, it is my view too.
Thats good, if i can see some of the same things you do then ill take that as a sign that im on the right way
  • #1,768
  • Sep 21, 2010 10:32am Sep 21, 2010 10:32am
I have posted thiis many times but some of the newer people may have missed it. Iam stalling as I am in the kitchen cooking red beans and rice..

Very good example by Store ball.

Take notice of the line /consolidation section also notice the timing rule, This is where fib time tool can come in 33- 66 is in the zone if a pullback but also a measure of consolidation time period.
Attached File(s)
File Type: pdf Peaks_and_Troughs_Pring[1].pdf   181 KB | 435 downloads
Good Trading To All ; Ken Lee
  • #1,769
  • Sep 21, 2010 12:35pm Sep 21, 2010 12:35pm
Hope this isn't to much on one chart .. if so ask about certain areas.
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Good Trading To All ; Ken Lee
  • #1,770
  • Sep 21, 2010 2:09pm Sep 21, 2010 2:09pm
You have to trade what you see. On my daily chart the time chab=nges with GMT ,, But on this 15 minute chart the daily hi/lo indicator runs with my time here. But both were bearish the gmt one being more so. But had a bit of retracement. prior to midnight.
Good Trading To All ; Ken Lee
  • #1,771
  • Sep 21, 2010 2:33pm Sep 21, 2010 2:33pm
Nice chart!

Is the fib time tool something you've begun looking more into? I remember a while back when you had a post on it. Its interesting.

Btw only beans and rice? Where is the meat?? Got to have the meat!
  • #1,772
  • Sep 21, 2010 2:36pm Sep 21, 2010 2:36pm
Quoting Storeball
Nice chart!

Is the fib time tool something you've begun looking more into? I remember a while back when you had a post on it. Its interesting.

Btw only beans and rice? Where is the meat?? Got to have the meat!
Going to get some fried chiken and make some biscuits, poached pears with coconut milk ice cream for desert


It is soemthing you can use to help pick the next interested time. If you can get expert at that and fib retracements / ppa. You would have a idea when and where to be Johnny on the spot.. Then not have to stare at this damn monitor all the time..
Good Trading To All ; Ken Lee
  • #1,773
  • Sep 21, 2010 2:40pm Sep 21, 2010 2:40pm
Quoting Kenneth Lee
Hope this isn't to much on one chart .. if so ask about certain areas.
Thank you very much!!!!

Perfect chart as always. I believe that I could recognize your work anywhere - it is your signature.
  • #1,774
  • Sep 21, 2010 2:56pm Sep 21, 2010 2:56pm
Quoting Kenneth Lee
Going to get some fried chiken and make some biscuits, poached pears with coconut milk ice cream for desert


It is soemthing you can use to help pick the next interested time. If you can get expert at that and fib retracements / ppa. You would have a idea when and where to be Johnny on the spot.. Then not have to stare at this damn monitor all the time..
Sounds good! When i'v got some more time on my hands i want to learn how to cook as well, right now im happy if I can cook potatos without setting the house on fire

Would be nice to be able to pinpoint the most interesting chunks of the day with a high accuracy for sure. Right now though and for the next 12 months to come me and my brother has set up a goal to work at the minimum of 60 hours a week, going to be spent on trading for me, so sitting in front of the montior is something that im going to be doing a lot more then i'v used to!

Only problem is that my eyes turn into squares at the end of the day! :nerd:
  • #1,775
  • Sep 21, 2010 3:30pm Sep 21, 2010 3:30pm
Quoting Storeball
Sounds good! When i'v got some more time on my hands i want to learn how to cook as well, right now im happy if I can cook potatos without setting the house on fire

Would be nice to be able to pinpoint the most interesting chunks of the day with a high accuracy for sure. Right now though and for the next 12 months to come me and my brother has set up a goal to work at the minimum of 60 hours a week, going to be spent on trading for me, so sitting in front of the montior is something that im going to be doing a lot more then i'v used to!...

Time in front of the computor is great , but make it quality time , even if you don't take a trade always maybe jot down or put a mark on your chart where you think price will do something wiether it be a small scalp or a major reversal. If you continue to do that it will start to show you how it flows and the difference when volume is there or missing.

Then you can start to learn to get a few pips at almost anytime of the day .. and it doesn't take many to replace a regular job..


Good luck .. to you and your brother. Nice to have someone to bounce ideas off.
Good Trading To All ; Ken Lee
  • #1,776
  • Sep 21, 2010 3:57pm Sep 21, 2010 3:57pm
Quoting Kenneth Lee
Time in front of the computor is great , but make it quality time , even if you don't take a trade always maybe jot down or put a mark on your chart where you think price will do something wiether it be a small scalp or a major reversal. If you continue to do that it will start to show you how it flows and the difference when volume is there or missing.

Then you can start to learn to get a few pips at almost anytime of the day .. and it doesn't take many to replace a regular job..


Good luck .. to you and your brother. Nice to have someone...
Absolutely true, doesnt matter how many hours you spend doing anything if your mind is not there 100%, your better of doing something else. Definitely something I have a lot of focus on. I work along side my brother who's been playing poker for a living the last coupple of years, and to trading that actually does compare to a great deal, especially psychologically. Focus wise it also helps as we can keep an eye on each other when if we see the other get unfocused.
  • #1,777
  • Sep 22, 2010 2:13am Sep 22, 2010 2:13am
Morning guys!

EJ had us ping ponging through asian session, broke out came back to retest and gave me a nice entry. Made a mistake though, instead of taking profit at 1:1 like i use to, i set it at +2 cause i thought it would run. Got stopped out. If I think its going to be a runner I cant cramp the trade like that, got to give it room to develop. Lesson learned

Got a question for you guys that also follow a lot of pairs, basically at the same time as the ej I had a potential trade on eu, gu and uc that I was monitoring. Not a uncommon scenario when things start cooking, but whats best to do here? Take them all which would make it harder to manage them all properly, or just pick out one and go with that? The downside I think that cause is when you start to let go of trades that your system tells you to take, your messing with your average win rate. Any thoughts?
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  • #1,778
  • Sep 22, 2010 4:54am Sep 22, 2010 4:54am
Quoting Storeball
Morning guys!

EJ had us ping ponging through asian session, broke out came back to retest and gave me a nice entry. Made a mistake though, instead of taking profit at 1:1 like i use to, i set it at +2 cause i thought it would run. Got stopped out. If I think its going to be a runner I cant cramp the trade like that, got to give it room to develop. Lesson learned

Got a question for you guys that also follow a lot of pairs, basically at the same time as the ej I had a potential trade on eu, gu and uc that I was monitoring. Not a uncommon scenario...
Breakout and retest trade was nice. But remember to look for that trade on the htf also. Got lot more profit potencial.
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  • #1,779
  • Sep 22, 2010 5:35am Sep 22, 2010 5:35am
Quoting kodziro
Breakout and retest trade was nice. But remember to look for that trade on the htf also. Got lot more profit potencial.
Interesting again Was a clear tradfe on the 1hr as well yea. Only downside is the larger sl that would be required, i tend to get edgy when I have to put larger then normal 10-20ish sl.
  • #1,780
  • Sep 22, 2010 5:59am Sep 22, 2010 5:59am
Quoting Storeball
Interesting again Was a clear tradfe on the 1hr as well yea. Only downside is the larger sl that would be required, i tend to get edgy when I have to put larger then normal 10-20ish sl.
Yes it was clear and it was in the trading zone near 50 fib.

Acually if you enter directly at this line 10-12 pips SL is enough ( this is best option ). Waiting for 15m pa there give you about 20 pips SL. I hope you don`t think to enter after 1h pinbar.
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