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Ken's Continuing Successes with EO's system

  • #1,841
  • Oct 3, 2010 12:59am Oct 3, 2010 12:59am
Hi everybody

I just found this thread on FF, and now started to read the PDF.
I want to say that my trading need a turn to be honest, and what I hope for
is that this thread can help me.
I am now reading up on things anf hope >I can come here if there is something confusing me or not clear in my mind.

I hope I can also read the whole thread here , because I know if someone just jump in and ask a Q that have been covered 60 times, he get a "slap" in face and sent back to reading.
But if a Q pops up pls dont bite me if its covered.
I will over time do my homework, but this is huge.

And excuse my English I am better in Danish.


Good luck and I hope to join you all here.


thanks

fratelli
  • #1,842
  • Oct 3, 2010 1:25am Oct 3, 2010 1:25am
Quoting fratelli
Hi everybody

I just found this thread on FF, and now started to read the PDF.
I want to say that my trading need a turn to be honest, and what I hope for
is that this thread can help me.
I am now reading up on things anf hope >I can come here if there is something confusing me or not clear in my mind.

I hope I can also read the whole thread here , because I know if someone just jump in and ask a Q that have been covered 60 times, he get a "slap" in face and sent back to reading.
But if a Q pops up pls dont bite me if its covered.
I will over...
Welcome! This is for sure great stuff, your gonna love it
  • #1,843
  • Oct 4, 2010 1:50am Oct 4, 2010 1:50am
http://www.forexfactory.com/showpost...postcount=1999

Mark Douglas interview. Great stuff, Priceaction posted it on another thread but im sure he wont mind me putting it up here.
  • #1,844
  • Edited 6:29am Oct 4, 2010 5:12am | Edited 6:29am
Have been reading over 2 years eo' forum "trade what you see..."
And all reply to thread. Very helpful.
Have been opened many demo. accounts.

2 weeks ago finally, opened my real ... one!
Some emotionsss, hart beet ... lol NOT! Break even :-(

In keeping with an S/R trigger going short or long decreasing my stop
(because real money) I entered too late or to early.
Sorry for my "stupid" question.
How to give more % to my entry to be in the green ?

Merci,
  • #1,845
  • Edited 7:56am Oct 4, 2010 7:40am | Edited 7:56am
Quoting lady bird
Have been reading over 2 years eo' forum "trade what you see..."
And all reply to thread. Very helpful.
Have been opened many demo. accounts.

2 weeks ago finally, opened my real ... one!
Some emotionsss, hart beet ... lol NOT! Break even :-(

In keeping with an S/R trigger going short or long decreasing my stop
(because real money) I entered too late or to early.
Sorry for my "stupid" question.
How to give more % to my entry to be in the green ?

Merci,
I am guessing the question is,, How to enter better for a better chance of a green trade. or how to enter for a quicker into green move..


Either question can be answered about the same..

If you don't like drawdown, ( who does?) you have two choices one is to learn the levels that will respond when price is there and enter as close to those levels as possible. Using a Pending Order can help with entering to soon. These types of entries require tight stops . because your entering without a entry signal so a bit of gambling.

But everyone saw many people do this on EO's thread but it was done successfully because the levels were known to be at a very good place. S/R -PPA off daily or 4 hr . supporting Trading Zone , or previous days or sessions high or low. You don't attempt it off every minor s/r.


The second way and probably the most sane. would be to wait for supporting PA off a higher time frame chart. If you look back on your charts you will see many times where price just stalls for a while then moves in the direction we intended. I have watched many people take the correct trade then move their stop to BE only to get taken out.

That happens because as commercial traders say it is just noise. and they are waiting for the hrly or 4 hr to support a change of direction. So after about a hr or 45 min. we can see on our charts a signal developed on the hrly and price then moves off in the right direction.

So you have two choices in that instance leave your stop alone until it braaks a S/R line or be prepared to re-enter if your get stopped.


I would say that there is a third type of entry that has been the best for small drawdowns for me anf that would be the 1:00 and 5:00 O'clock entries. They are contiuation entries of a trend that has started normally the begining of a session and if it retraces to a good level . presession high or low. it is normally very safe..

Hope this helps .. Trade nerve free ,, Ken
Good Trading To All ; Ken Lee
  • #1,846
  • Oct 4, 2010 7:52am Oct 4, 2010 7:52am
Hi Ken

I have been reading thro your thread whick looks very interesting, I have couple of questions:

Does your stratergy on page one still apply or have you made any tweeks?
Can you please attached your templete?

Thanks

WFX
  • #1,847
  • Oct 4, 2010 8:01am Oct 4, 2010 8:01am
Quoting wickstedFX
Hi Ken

I have been reading thro your thread whick looks very interesting, I have couple of questions:

Does your stratergy on page one still apply or have you made any tweeks?
Can you please attached your templete?

Thanks

WFX

I use almost everything in this thread to trade then some. I don't have a template .. I use pretty naked charts , just the MA's posted in the pdf.

The entries in the pdf are tried and true , but the key to this or any trading is to learn to look at Price Action previous and current. If you don't even believe that price reacts at the same levels over and over, Which some don't. Just learning how price acts at any area that it is going to reverse or continue is the steps to a winning strategy.

Hope you get something from this thread and if you need any clarifacation just ask . I or someone will answer I am sure.

Trade Happy Ken
Good Trading To All ; Ken Lee
  • #1,848
  • Oct 4, 2010 8:06am Oct 4, 2010 8:06am
Thanks Ken

Are you a full time trader and is this your main stratergy?

Cheers

WFX
  • #1,849
  • Oct 4, 2010 8:12am Oct 4, 2010 8:12am
Sorry for my non-English question.
Thanks Ken you read my mind

Quoting Kenneth Lee
I am guessing the question is,, How to enter better for a better chance of a green trade. or how to enter for a quicker into green move..


Either question can be answered about the same..

If you don't like drawdown, ( who does?) you have two choices one is to learn the levels that will respond when price is there and enter as close to those levels as possible. Using a Pending Order can help with entering to soon. These types of entries require tight stops . because your entering without a entry signal so a bit of gambling.

But everyone...
  • #1,850
  • Oct 4, 2010 8:14am Oct 4, 2010 8:14am
Quoting wickstedFX
Thanks Ken

Are you a full time trader and is this your main stratergy?

Cheers

WFX

I was a fulltime trade for about two years but was never funded properly, So had to make major gains every week to pay the bills. up to 50%, Then I had some major bills come up an pretty much killed my equity.

So I decided instead of the stress to keep having to make huge gains I went back to work. At a menial job. To just build equity and not have to take any draws. The goal is within a year have enough equity to be able to take a 50% draw in one week for monthly income. I am worlking on a document on how I am approaching this challenge.

I haven't really started as it has taken me awhile to get acclimated at working fulltime again. Plus I am now standing for 8 hrs a day. Used to have a desk job.. I am working second shift to allow the possiblity of trading the london open and U.S session . But I miss Asia . It was always a good session to me.

Anyway that is me.. Ken
Good Trading To All ; Ken Lee
  • #1,851
  • Oct 4, 2010 8:38am Oct 4, 2010 8:38am
I appreciate your honest Ken, I look forward to the journey on this thread.

Cheers
WFX
  • #1,852
  • Oct 4, 2010 8:50am Oct 4, 2010 8:50am
Some trades from last night

OOps noticed I said A/U it was The yen pair,, hehe
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #1,853
  • Oct 4, 2010 8:56am Oct 4, 2010 8:56am
Quoting Kenneth Lee
The goal is within a year have enough equity to be able to take a 50% draw in one week for monthly income. I am worlking on a document on how I am approaching this challenge.
Have you considered using EO's gauntlet concept? Since your W/L ratio is so high you could probably use it to build up an account quickly in a few months.. Plus, if you "reset" the gauntlet at the end of every month it would be relatively safe -- like start the first month with $1K, trade it up as high as possible, and regardless of if you hit the $10K mark or not withdrawl all money from that account at the end and start over at $1K. After a few months you'd have a large pool of cash withdrawn that you could put into a new, normal risk account.

Just throwing an idea out there, I realize you probably already considered this.
  • #1,854
  • Oct 4, 2010 8:59am Oct 4, 2010 8:59am
What time frame are your trading off Ken?
  • #1,855
  • Oct 4, 2010 9:03am Oct 4, 2010 9:03am
Quoting Kenneth Lee
Some trades from last night

OOps noticed I said A/U it was The yen pair,, hehe
I got A and B last night for about 10 pips each. But then I completely missed C and D!

In retrospect I think D is obvious with all that PPA, but I don't know that I could ever convince myself to take C. I think the easiest way to take both of these would really be when it breaks out below the previous low and retests. (But I still didn't even enter there, frustrating)
  • #1,856
  • Oct 4, 2010 9:05am Oct 4, 2010 9:05am
Quoting wickstedFX
What time frame are your trading off Ken?

I have 4 charts on each vertical screen , Top is 15 min middle 1 hr bottom 4 hr , also a small inset 5 min to help get tight entries on trades I just want to touch . like the 1 and 5 o'clock trades.
Attached Image (click to enlarge)
Click to Enlarge Name: my computers..jpg Size: 271 KB
Good Trading To All ; Ken Lee
  • #1,857
  • Oct 4, 2010 9:08am Oct 4, 2010 9:08am
Quoting Kenneth Lee
Some trades from last night

OOps noticed I said A/U it was The yen pair,, hehe
Hey Ken,

I thought you only trade EJ & GU, now you go for AJ, hehe, nice explanation.

Eric
  • #1,858
  • Oct 4, 2010 9:09am Oct 4, 2010 9:09am
Quoting dr mongolia
Have you considered using EO's gauntlet concept? Since your W/L ratio is so high you could probably use it to build up an account quickly in a few months.. Plus, if you "reset" the gauntlet at the end of every month it would be relatively safe -- like start the first month with $1K, trade it up as high as possible, and regardless of if you hit the $10K mark or not withdrawl all money from that account at the end and start over at $1K. After a few months you'd have a large pool of cash withdrawn that you could put into a new, normal risk account....

Yes I may again I did it once got to 7k in two weeks then my lack of emotional control took over and I blew it.. LOL so a bit more steady as she goes but some pretty high risk intially. Very similiar to the pdf I posted Forex Freedom.. 300 to 30K in 6 months..

I didn't take C either by the way I liked the AUD/JPY better,,
Good Trading To All ; Ken Lee
  • #1,859
  • Oct 4, 2010 9:10am Oct 4, 2010 9:10am
Quoting Buildcity
Hey Ken,

I thought you only trade EJ & GU, now you go for AJ, hehe, nice explanation.

Eric
No I troll about 6 pairs or so and will take what I feel are A+ trades


Hope your doing well and getting settled after your move.. Ken
Good Trading To All ; Ken Lee
  • #1,860
  • Oct 4, 2010 9:22am Oct 4, 2010 9:22am
Quoting Kenneth Lee
I have 4 charts on each vertical screen , Top is 15 min middle 1 hr bottom 4 hr , also a small inset 5 min to help get tight entries on trades I just want to touch . like the 1 and 5 o'clock trades.
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