Ken's Continuing Successes with EO's system | Page 101 | 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

  • #2,001
  • Oct 11, 2010 7:32am Oct 11, 2010 7:32am
Quoting kodziro
try with long at U/C, look how 1h candles respect 1.0108 ppa line
Nice catch I got resistance at .0120, if it breaks that one you could be in for great trade.
  • #2,002
  • Oct 11, 2010 9:09am Oct 11, 2010 9:09am
Quoting Buildcity
Hey man,

May be today we should do something else, the major markets are all closed today.

Cheers
Eric
Yeah very slow day. I was looking to enter several trades last night (Asian session) to make my quota today -- I figured letting them slowly move today without any news spikes would be the easiest way for me to hit my quota. I was only able to get 2 opened at good prices, and I closed one way too early.
  • #2,003
  • Oct 11, 2010 9:12am Oct 11, 2010 9:12am
Quoting dr mongolia
I also took a short on E/J earlier but it went nowhere -- I was at least expecting it to move a little bit but it completely stalled so I closed.


Solid setup and I just let it go.. closed way too early.. Could have hit my quota and be done. I guess that's how it goes
  • #2,004
  • Oct 11, 2010 9:20am Oct 11, 2010 9:20am
Yes it is days like today that it is better to base trades and targets off the higher time frame charts as it cleans your charts up. these whipsaws on the 15 will drive you mad..

That or stand aside till better trading arrives tomorrow..


Hope everyone is enjoying the holiday ... Ken
Good Trading To All ; Ken Lee
  • #2,005
  • Oct 11, 2010 9:28am Oct 11, 2010 9:28am
Here's a possible trade if anyone is interested.. Short on EUR/GBP.. I took it at the 50/50 setup on the 15M (50MA/50% fib). On the 1H we also had a touch of the 50 (so 200MA on the 15M, which isn't shown since I just watch the 1H 50) plus two double tops followed by a lower high.

The 15M is the first chart, 1H is the second chart
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR_GBP 15M.png Size: 25 KB
Click to Enlarge Name: EUR_GBP 1H.png Size: 24 KB
  • #2,006
  • Oct 11, 2010 9:43am Oct 11, 2010 9:43am
AUD/CAD is 10 pips from parity.. thats been a very good short level lately although stop needs to be past 1.0020
  • #2,007
  • Oct 11, 2010 11:27am Oct 11, 2010 11:27am
Quoting kodziro
Yep it`s slow, g/u is ranging between 5913-5961 .I wonder if we break this range today. Anyway, scalps is always welcome on day like this.
Price broke this range, got 1h close under it, so I hope someone took the retest trade. ( got there 1h 50 ma also )
Attached Image (click to enlarge)
Click to Enlarge Name: gubreak.jpg Size: 155 KB
  • #2,008
  • Oct 11, 2010 12:01pm Oct 11, 2010 12:01pm
I decided that I wasnt going to miss much after watching the market for the first hours this morning so I ran some errands and played racquetball instead. Just started playing and im really getting hooked on it, great fun. Anyone play?

Missed a couple of trades that would be decent, that gu was nice, the eu also broke out of its channel so going to be interesting to watch that. But there is always enough opportunities to come.
  • #2,009
  • Oct 12, 2010 2:28am Oct 12, 2010 2:28am
I am reading pdfs and eo's thread and I have noticed that he draws channels with a line in the middle of lower and upper line. Can anybody explain to me what is the purpose of that "middle" line and how does it effect trading?
  • #2,010
  • Oct 12, 2010 7:09am Oct 12, 2010 7:09am
Quoting aljosas
I am reading pdfs and eo's thread and I have noticed that he draws channels with a line in the middle of lower and upper line. Can anybody explain to me what is the purpose of that "middle" line and how does it effect trading?

It is all about finding what you need to see where price action MAY give you a entry signal.

Some like channels , others use pivots , some only look for patterns, It is all about what you can see with your minds information and eyes, use what works for you then you can add to it slowlly,,


Some let MT4 ea's draw their channels and S/R , IF it works for you fine , but you should know how to do it on your own also..

Trade well Ken
Attached Image (click to enlarge)
Click to Enlarge Name: 1 a.jpg Size: 218 KB
Good Trading To All ; Ken Lee
  • #2,011
  • Oct 12, 2010 7:46am Oct 12, 2010 7:46am
Just a note , The channel was drawn , by first placing the top line, then just duplicating the lines and align them as best as they fit the bottom first then the middle last. That is why the top fits the best .. The first two points aren't marked as they are what setup the line ..
Good Trading To All ; Ken Lee
  • #2,012
  • Oct 12, 2010 8:22am Oct 12, 2010 8:22am
Hi, Ken and all
Say hello to you all! Have a safe and happy trading day to all of you.

Does anybody know any indicator to draw line with arrow on MT4?

Thanks
Dancing with Candlesticks
  • #2,013
  • Oct 12, 2010 8:30am Oct 12, 2010 8:30am
Quoting iForex
Hi, Ken and all
Say hello to you all! Have a safe and happy trading day to all of you.

Does anybody know any indicator to draw line with arrow on MT4?

Thanks
Not any that im aware of, you cant draw anything on mt4. But if you need something to edit your screenshots you can try using jing.
  • #2,014
  • Oct 12, 2010 9:03am Oct 12, 2010 9:03am
Hope some of you got the 50/50 play on the gbp/usd 50 fib plus 50 ema. Also plenty of entry signals. Ib's engulfing . But key was price couldn't close any higher.

Look at the AUD crosses as well some nice trading zone areas as well..
Good Trading To All ; Ken Lee
  • #2,015
  • Oct 12, 2010 9:14am Oct 12, 2010 9:14am
charts
Attached Image (click to enlarge)
Click to Enlarge Name: 1 chart.jpg Size: 212 KB
Good Trading To All ; Ken Lee
  • #2,016
  • Oct 12, 2010 9:51am Oct 12, 2010 9:51am
Quoting Kenneth Lee
charts
Thanks Ken. Beautiful trade, I can't believe I missed that one, it's been my favorite 15M setup ever since learning it from you. I'll go back to banging my head against the wall now

Overall I've had a good trading day so far. I had a couple good overnight trades and we're at some key levels on several pairs right now. I'm watching GBP/CHF very closely right now, it's either going to break out hard past daily support or reverse upward, and either way it should be a 100 pip move.

Also as you said the AUD crosses are moving very well.. I had EUR/AUD short, now reversed on it. (But it looks like it might be reversing on ME! )
  • #2,017
  • Oct 12, 2010 12:35pm Oct 12, 2010 12:35pm
Hey Ken!

Started reading the dance thread and got diverted to your, EO and Choros threads. Just wanted to say a big thank you for the amazing documentation. Your PDF is Superbly written. I was good at making money - then lost 'the touch' somehow and am back at basics. Should be able to learn it all back (hope) and contribute positively to the forum soon. But for now, Just thank you (and all veterans here)! Please do continue your good work.
Making money is easy- Just dont take losing trades
  • #2,018
  • Oct 14, 2010 3:13am Oct 14, 2010 3:13am
Quoting Kenneth Lee
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..
kenneth,

i like your thread despite i am a quiet reader;-)

my question: why dont you quit your work and trade for a living?
it has the most freedom to be an independent trader and nothing else, so why?

i am curious of your answer, thx.
trading is like dancing, don't think and just listen to the music!
  • #2,019
  • Oct 14, 2010 3:16am Oct 14, 2010 3:16am
Search back for few pages only, you get his answer.

Quoting birdland
kenneth,

i like your thread despite i am a quiet reader;-)

my question: why dont you quit your work and trade for a living?
it has the most freedom to be an independent trader and nothing else, so why?

i am curious of your answer, thx.
  • #2,020
  • Edited 4:11am Oct 14, 2010 3:59am | Edited 4:11am
Quoting Buildcity
Search back for few pages only, you get his answer.
ok, thx, the thread is pretty long but i will do that.

edit: #1850, got it! very honest, ken i wish you a lot power to do this!
trading is like dancing, don't think and just listen to the music!
2 traders viewing now