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Ken's Continuing Successes with EO's system

  • #1,861
  • Oct 4, 2010 11:25am Oct 4, 2010 11:25am
Quoting Naseri13
Follow you from today.

Welcome to the thread. But there is no following all we do is present information to help people see what to trade. Feel free to join in.

Welcome ken
Good Trading To All ; Ken Lee
  • #1,862
  • Oct 4, 2010 1:16pm Oct 4, 2010 1:16pm
Hi Ken

What are the 6 currencys you trade?

WFX
  • #1,863
  • Oct 4, 2010 2:38pm Oct 4, 2010 2:38pm
Quoting wickstedFX
Hi Ken

What are the 6 currencys you trade?

WFX
I look at. E/J , G/U ,E/U , U/C, U/J,A/J and G/J

Might favorite is normally E/J I have started to really like A/J as well..

I don't have to have volitilaty in my trading and can manage fine with pairs that behave themselves. A constant 20 or 40 pips a day with proper risk and money mangament can get you where you want to be.

Then if you happen to get the right entry great gains can be had just as easilly. Like that short I posted on A/J , Get that type of trade covered, Move your stop to a little gain when it allows and see what can happen.

Possiblity of 70 or you could still be short looking at 50 hoping for more. stop above yesterdays low. But you have to risk a bit , That becomes easier as the account gets healthier and you see that it is easy to make back any loss that might happen. But when you have locked in gains it is a no lose situation .
Good Trading To All ; Ken Lee
  • #1,864
  • Oct 4, 2010 3:28pm Oct 4, 2010 3:28pm
Ken - what is your trading day like, how many hours do you put in?

WFX
  • #1,865
  • Edited 4:30pm Oct 4, 2010 3:38pm | Edited 4:30pm
Quoting wickstedFX
Ken - what is your trading day like, how many hours do you put in?

WFX
Don't have any set hours right now. But I look at the charts whenever I have time. Just took a short on e/j , There are always possiblities . I have to go to work at 2pm eastern most days. so look when i get home at 11:30 sometimes stay up till 3 for london, but always get up for U.S. start then look for trades after London closes.

If I don't have work I look at the start of asia for a trade,. main thing is not to be tired and unfocused . if you don't feel good don't trade . If your tired you can see things that aren't there..
Good Trading To All ; Ken Lee
  • #1,866
  • Oct 4, 2010 4:58pm Oct 4, 2010 4:58pm
That e/j trade..
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #1,867
  • Oct 4, 2010 5:40pm Oct 4, 2010 5:40pm
Quoting Kenneth Lee
That e/j trade..
It`s good you take some pips ona that , I was short with this line 114.18 twice today, but both ended with BE.

Got long at UCH - 0.9707- got covered it and going to sleep now
  • #1,868
  • Oct 4, 2010 6:34pm Oct 4, 2010 6:34pm
I grabbed another short off the 200 sma . back to the top of the range .. Wish i had turned it at the bottom,, Oh well. scalps add up.
Good Trading To All ; Ken Lee
  • #1,869
  • Oct 4, 2010 6:38pm Oct 4, 2010 6:38pm
Quoting kodziro
It`s good you take some pips ona that , I was short with this line 114.18 twice today, but both ended with BE.

Got long at UCH - 0.9707- got covered it and going to sleep now

Yeah if I see a solid line, Like the 114.00 I will almost always close because when it breaks it will retest almost everytime. So better to get some pips. If I entered with multilple orders I can close a portion and wait for the beak moving the ballance to BE.
Good Trading To All ; Ken Lee
  • #1,870
  • Oct 4, 2010 11:07pm Oct 4, 2010 11:07pm
CHF/JPY has been giving some nice scalps lately in the Asian session. I got this one, retest of a 1H trendline which was also the close on Sept 29th's GMT daily chart.

Also, the bottom just fell out of the AUD .. I hope someone got a piece of that move.. 70-80 pips in a few minutes, I guess that had to be a bank at this hour (I'm just posting the chart, I was not lucky enough to get a part of this one)
Attached Image(s) (click to enlarge)
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  • #1,871
  • Oct 5, 2010 3:00am Oct 5, 2010 3:00am
Quoting Kenneth Lee
I grabbed another short off the 200 sma . back to the top of the range .. Wish i had turned it at the bottom,, Oh well. scalps add up.
Hi Ken,

Hope all is good. When you say that you grabbed on "off the 200sma", do you take the touch on the ma or wait for candles to close around it and guide the way?

I'm always really uneasy about touch trades.....
  • #1,872
  • Oct 5, 2010 3:15am Oct 5, 2010 3:15am
Just wanted to say how much I am enjoying this thread, been learning for months, reading, watching £/$ charts and learning more .

There are maybe many people like myself, that don't feel they are quite up to posting anything of significance yet..... Yesterday was a "big" step.
but, will get there.

Thanks to all,
  • #1,873
  • Oct 5, 2010 3:43am Oct 5, 2010 3:43am
Quoting Trotty
Hi Ken,

Hope all is good. When you say that you grabbed on "off the 200sma", do you take the touch on the ma or wait for candles to close around it and guide the way?

I'm always really uneasy about touch trades.....

I will take touch trades off high value MA,s when price hasn't been near them for awhile. The 200 ma on the 15 min is close to the 50 on the hrly and you can see that it touched as well.

Plus the knowledge that in the start of any session you can get a move that is more a stop run in the unattended direction first is kinda normal.

Look at the gbp at london pulled down then went up . This happens a lot . I am sure someone knows exactlly why, I hear a lot thy sold it to get a better price and I know in Ed Posi>s book he talks a bit about that.

But It is worth a try just anytime you try something like that or any touch trade the stop is just the other side of the fence . Think of it the same as a news trade . Tight stop win or nothing ..

Trade Well Ken
Good Trading To All ; Ken Lee
  • #1,874
  • Oct 5, 2010 3:48am Oct 5, 2010 3:48am
Quoting dr mongolia
CHF/JPY has been giving some nice scalps lately in the Asian session. I got this one, retest of a 1H trendline which was also the close on Sept 29th's GMT daily chart.

Also, the bottom just fell out of the AUD .. I hope someone got a piece of that move.. 70-80 pips in a few minutes, I guess that had to be a bank at this hour (I'm just posting the chart, I was not lucky enough to get a part of this one)

That was a news spike ,, Always check the news calender prior to trading to see what releases are coming out. You can have some bad expriences otherwise.. My broker slips stops during news. so it can hurt real bad..

Nice one on the swissy..
Good Trading To All ; Ken Lee
  • #1,875
  • Oct 5, 2010 3:54am Oct 5, 2010 3:54am
Quoting Kenneth Lee
I will take touch trades off high value MA,s...
Thanks for the explanation Ken.

I cut my teeth on the "Dance" thread which is based entirely on touch trades. I find that you need real nerves of steel for it as you are always trading against the current flow.

I guess success breeds confidence and once you have a few winners under your belt, the concept becomes less daunting. Perhaps an approach to start with small position size first to build your comfort up before risking too much?
  • #1,876
  • Oct 5, 2010 4:10am Oct 5, 2010 4:10am
Quoting Trotty
Thanks for the explanation Ken.

I cut my teeth on the "Dance" thread which is based entirely on touch trades. I find that you need real nerves of steel for it as you are always trading against the current flow.

I guess success breeds confidence and once you have a few winners under your belt, the concept becomes less daunting. Perhaps an approach to start with small position size first to build your comfort up before risking too much?

After years of doing this I have come to the point where i believe 100% and know for a fact that at almost any given LEVEL there WILL be a reaction. sometimes looking back on even a 15 Min chart you can't see it but it was there . In the case of that 200 ma on e/j ,, throw your curser up on it and look left you will see another reason I took it .

I tend to look left on my charts more than anywhere else. I think of left as the road map to what may happen . and the current price action on the right as the traffic needed to be navigated.
Good Trading To All ; Ken Lee
  • #1,877
  • Edited 4:23am Oct 5, 2010 4:19am | Edited 4:23am
chart

The Line that is drawn across your chart following price . can give you such insight. Especially when i am just trolling ( Looking at pairs I don't study alot) I can see possiblitis in a blink of the eye. But it isn't jumping it is seeing what is there and trading because of it not inspite of it.

The learning to SEE clearly is the key. Then just like driving you start doing the right thing without thinking. I wrote one time that trying to teach trading by writing was like trying to teach driving by text , Think of all the different problems you could get into driving and try and think how to teach that. All you can do is teach the basics and hope they drive long enough to get good at it .. LOL
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #1,878
  • Oct 5, 2010 4:26am Oct 5, 2010 4:26am
Quoting Kenneth Lee
After years of doing this I have come to the point where i believe 100% and know for a fact that at almost any given LEVEL there WILL be a reaction. sometimes looking back on even a 15 Min chart you can't see it but it was there . In the case of that 200 ma on e/j ,, throw your curser up on it and look left you will see another reason I took it .

I tend to look left on my charts more than anywhere else. I think of left as the road map to what may happen . and the current price action on the right as the traffic needed to be navigated.
It's those points of confluence again.

Something I came to realise a few months ago is that you hear traders talking about either using "ma's", "fibs", "pivots" or "trendlines". The realisation for me is that you should learn and use as much of it as you can. It all works to a point but why ditch some elements that may help you see more clearly?
  • #1,879
  • Oct 5, 2010 4:27am Oct 5, 2010 4:27am
Quoting Kenneth Lee
After years of doing this I have come to the point where i believe 100% and know for a fact that at almost any given LEVEL there WILL be a reaction. sometimes looking back on even a 15 Min chart you can't see it but it was there . In the case of that 200 ma on e/j ,, throw your curser up on it and look left you will see another reason I took it .

I tend to look left on my charts more than anywhere else. I think of left as the road map to what may happen . and the current price action on the right as the traffic needed to be navigated....
Thats very interesting. Out of 10 trades how many of those would you say are taken by the touch, and not by candlestick confirmation?
  • #1,880
  • Oct 5, 2010 4:37am Oct 5, 2010 4:37am
Quoting Trotty
It's those points of confluence again.

Something I came to realise a few months ago is that you hear traders talking about either using "ma's", "fibs", "pivots" or "trendlines". The realisation for me is that you should learn and use as much of it as you can. It all works to a point but why ditch some elements that may help you see more clearly?
BUT the key is to only KEEP what is a benifit and dump the rest. truth be known there is very little that is needed it is the indivual and what they see that is important. anyone of the things you mentioned cangive the same results with nothing more then the s/r - ppa lines . I can almost 100% take a chart with fibs or trendlines pivots , and where they are showing a possibilty just add a horiziontal line and get the same results.

It is strange how it comes into play but it is the reason why it does and how whomever came up wtih those algorithems that show it.

But by all means use what you can SEE, first then wean yourself from it. as they can be false at times. But when they do work check for levels..

Just my 2 cents..
Good Trading To All ; Ken Lee
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