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Ken's Continuing Successes with EO's system

  • #2,161
  • Oct 25, 2010 12:58pm Oct 25, 2010 12:58pm
Quoting MCFly
May I ask you if this trade wasn't too risky?

There was PA (bullish Pin) before and she came from an area of PPA/S&R @120.60. Also my 4 hr closed above the 200 sma.
It depends on what your looking for. I had been out most of the day , And was ineterested in just getting a few pips. So I saw it as a scalp my entry was close to what I saw as a top 112.80. might have taken a 6 to 10 loss on it . Almost no risk at all.

It takes a bit for price to reverse after this many swings down. even now with price haven broken that shelve there is no major up move yet . even a additional short scalp maybe at hand . This would be the one that may form our higher low.

Trading has so much to do with how we all see it differentlly. Some only see the bigger trades others the scalps . I am better at the scalps but the entries can be the same for both .

Like I said there is no wrong answer just how you may want to play the game.
Good Trading To All ; Ken Lee
  • #2,162
  • Oct 25, 2010 1:31pm Oct 25, 2010 1:31pm
Quoting Kenneth Lee
Trading can be as simple as that trading the check marks I draw or the steps. Just let the runners run and anything closes above a step close asap. . If it drops back below the step wait for a signal to try again . If it bounces off the step it can be gimp traded e/j had a couple of trades not great but they all count.
Not sure I want to ask any more about this style of trading Ken
  • #2,163
  • Oct 25, 2010 1:32pm Oct 25, 2010 1:32pm
Scalped a bit more off E/J
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Good Trading To All ; Ken Lee
  • #2,164
  • Oct 25, 2010 1:33pm Oct 25, 2010 1:33pm
Quoting Trotty
Not sure I want to ask any more about this style of trading Ken

yes sometimes the spelling makes things interesting ..
GUMP.. Trading ... Sorry for those just tuning in..
Good Trading To All ; Ken Lee
  • #2,165
  • Oct 25, 2010 1:35pm Oct 25, 2010 1:35pm
Quoting Kenneth Lee
Scalped a bit more off E/J

took 11 off this quick trade
Good Trading To All ; Ken Lee
  • #2,166
  • Edited 8:04pm Oct 25, 2010 7:18pm | Edited 8:04pm
Confluence abounds . if you can't see a clear direction or entry look further up your charts to elminate some noise.
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Good Trading To All ; Ken Lee
  • #2,167
  • Oct 25, 2010 8:23pm Oct 25, 2010 8:23pm
sorry second one was yellow ...
Good Trading To All ; Ken Lee
  • #2,168
  • Oct 25, 2010 10:56pm Oct 25, 2010 10:56pm
I've had a pretty slow Asian session.. I got a couple of longs running and covered though, AUD/CAD and EUR/JPY. Both were simple trades from big support bounces. I think I'm headed to get some sleep
  • #2,169
  • Oct 25, 2010 11:00pm Oct 25, 2010 11:00pm
Quoting Kenneth Lee
Confluence abounds . if you can't see a clear direction or entry look further up your charts to elminate some noise.
I missed that blindingly obvious short from 113.00 earlier because I was thinking it was too far from the 50/62, when it was in fact a perfect 61.8% retracement plus solid S/R (can even see it on the daily, especially as Friday's open). Disappointing.. I'm going to review the chart again after a few hours of sleep.
  • #2,170
  • Oct 26, 2010 5:24am Oct 26, 2010 5:24am
Was waiting for the right point to get in the long after EJ made a new higher high.

Saw this confluence point and thought i'd nailed it perfectly as the reaction came and I soared straight into profit.

After retesting, the sellers forced it much lower than the entry confluence area and actually, the reality is that my entry failed. But, I gave it a fairly wide stop due to the big bars involved and slapped it behind the 50 ema for safety. Now covered and in tidy profit, watching price carefully to judge whether it's a runner or not.

Bit lucky on this one I think.
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  • #2,171
  • Oct 26, 2010 5:32am Oct 26, 2010 5:32am
Quoting Trotty
Was waiting for the right point to get in the long after EJ made a new higher high.

Saw this confluence point and thought i'd nailed it perfectly as the reaction came and I soared straight into profit.

After retesting, the sellers forced it much lower than the entry confluence area and actually, the reality is that my entry failed....
http://cdn.forexfactory.com/images/icons/icon14.gif For scalp it was nice entry, we got zero area and 1h close beyond ppa line/pivot
  • #2,172
  • Oct 26, 2010 5:36am Oct 26, 2010 5:36am
my intraday gu trades
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  • #2,173
  • Oct 26, 2010 5:38am Oct 26, 2010 5:38am
Quoting kodziro
http://cdn.forexfactory.com/images/icons/icon14.gif For scalp it was nice entry, we got zero area and 1h close beyond ppa line/pivot
Thanks mate but it wasn't entered as a scalp trade, it was for a holder....and i'm holding as it stands....


Nice trade yourself though
  • #2,174
  • Oct 26, 2010 5:53am Oct 26, 2010 5:53am
Quoting Trotty
Thanks mate but it wasn't entered as a scalp trade, it was for a holder....and i'm holding as it stands....


Nice trade yourself though
Hi Trotty & Kodziro,

Have not post much but nice to have the same scalp trades with you guys

both give me a total of 25p, hehe.

Happy trading all
Eric
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  • #2,175
  • Oct 26, 2010 6:41am Oct 26, 2010 6:41am
Here was also another nice long scalp on ej. Good ppa on 1h thats respected by price, enter on line with small stop. Thanks kodziro

Another confluence booster was the round number which ej seems to love. If you go to buildcitys journal you'll see that he is great at scalping a few at those areas
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  • #2,176
  • Oct 26, 2010 6:50am Oct 26, 2010 6:50am
Quoting Storeball
Here was also another nice long scalp on ej. Good ppa on 1h thats respected by price, enter on line with small stop. Thanks kodziro

Another confluence booster was the round number which ej seems to love. If you go to buildcitys journal you'll see that he is great at scalping a few at those areas
Man,

I have not join the long team on this as a quite a strong s/r 113.26 there.
  • #2,177
  • Oct 26, 2010 7:04am Oct 26, 2010 7:04am
Quoting Buildcity
Man,

I have not join the long team on this as a quite a strong s/r 113.26 there.
Yea this was nothing but a few quick ones, but a ton of confluence, also had daily piv, weekly piv and 200 ema. That much toghether is almost always good for a quick steal But its you that have made me take a closer look on the round numbers, and its a nice addition to the trading arsenal
  • #2,178
  • Oct 26, 2010 7:23am Oct 26, 2010 7:23am
Quoting Storeball
Yea this was nothing but a few quick ones, but a ton of confluence, also had daily piv, weekly piv and 200 ema. That much toghether is almost always good for a quick steal But its you that have made me take a closer look on the round numbers, and its a nice addition to the trading arsenal
I have big round number plotted with a dotted line, just the 100 pip gap 00 ending RN's. It's amazing the amount of times, scrolling back over your charts, price didn't just react at them but actually turned at them.

It all helps with these confluence touches, gives us another reason to enter and sometimes another logical place to leave your stop.

All about stacking as many odds in your favour as possible.
  • #2,179
  • Oct 26, 2010 7:24am Oct 26, 2010 7:24am
Keep an eye open for your basic patterns they tell the tell..
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Good Trading To All ; Ken Lee
  • #2,180
  • Oct 26, 2010 7:27am Oct 26, 2010 7:27am
Quoting Trotty
I have big round number plotted with a dotted line, just the 100 pip gap 00 ending RN's. It's amazing the amount of times, scrolling back over your charts, price didn't just react at them but actually turned at them.

It all helps with these confluence touches, gives us another reason to enter and sometimes another logical place to leave your stop.

All about stacking as many odds in your favour as possible.
Yes that is why FADING ZEROS is one of the scalpers favorite trades. But if you have it plotted as a PPA line of past reversal more than a fade can be had . AS you said it does turn there often . The yen pairs especially like the 00 and 50's .
Good Trading To All ; Ken Lee
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