Ken's Continuing Successes with EO's system

Excellent, just what I was looking for. Thanks again for your help Ken, I realise that you may be repeating yourself here.....

Any trades today?

Not yet having platform issues. They sent out a new Beta version and like a dumby I download the piece of $#!!. Not I can't get back to anything that works well , But should have it sorted directlly .

Be safe Freaky friday and NFP.. Ken

Wise words.

Took a long on GJ, not a pair I usually trade but nice setup and gone with half my normal position. Let's see.....

This is the trade. Now closed for over 2:1 as momentum is slowing and I don't want to wait for a retrace and fresh move long to take place as will be too near NFP time.

Reason for the trade was simple. I was looking for a long off the PPA bullish pin in the green rectangle. It failed to make much more of a low before getting pushed back again and then we had the positive bullish close to the left of the thin black line. I got in on the retrace of the next candle which gave me a few more pips to play with, the thin black line Stop is the thicker black line.

Usually, I would only look for a TP at the M15 35/50 on these trades but there was such momentum with this boy that I waited to see how it behaved with them and the pivot/RN in the same area. It just burst straight through them without hesitation so I held.

Probably my only trade today so I wish you all a great weekend.

Edited - Ooops, meant to say that H1 62 ema was the driver behind this trade as the H1 candle that closed before my entry candle closed above it after wicking down just below so we are trading back into the main trend here. Always good to actually explain why you were looking for a trade in an area!!!

Hey,

I discovered an incredibly annoying bug with it that makes the charts scale and bunch up to the point where they are almost unreadable; I'm waiting to hear back from ProRealTime but should have it fixed/posted later today if all goes well.

Kind of a tough day to trade so far, Lots of ranging for the news

No problem bud, i'll look forward to it

How'd you get on this week?

I've had a pretty good week; I'm still adjusting to some changes that I've made to my own personal style -- last week and this week I've cut down from watching 19 pairs to only 4 (A/U, E/J, G/J, G/U). I found that watching a ton of pairs it was easy to always find something at a key level, but I was trading too many correlated pairs. So the key level trades are less frequent now but I get a good percentage of the ones I'm watching, although not as many as I should.

I have missed a couple session bounces that I deifnitely should have had, hence the reason for that indicator I mentioned. I think I'm going to make an indicator that puts the weekly/monthly highs on the 15M chart as well, and I'll post that one too. I have found these bounces to be very effective. I had a good solid bounce on E/J earlier off last week's high at 11.90 and rode it up to the retest of the Asian session low for an almost brainless 60 pips. Session highs/lows, week high/low, and HTF MAs appear to be the easiest key level areas to trade off of -- they are "obvious" S/R, and don't require any degree of subjectivity.

I'm learning more and more that I am just not good at scalping or "trading in space" as I call it -- i.e. away from key areas, trying to turn price at an insignificant point. It's funny, more and more I'm realizing that "progressing as a trader" just means "being honest with yourself about your strengths and weaknesses". Focusing on trades you're good at + Avoiding trades you're bad it = Profit.

What about you, how'd your week go? You've hit some awesome trades this week, that G/J one earlier was a beauty. In addition to the H1 62EMA ad that level we also had the 35 on the daily right at 113.5X, plus the daily 50 was only 10 pips or so above. A picture pefect trade, and of course.. I missed the entire thing!

You and I seem to be at similar levels at the moment. My entries off key areas are sound now and my winning % is right up there. When it comes to getting the other bits and bats available, i'm as likely to screw up as I am to win out, that needs to change.

I will nail it though, i'm determined to trade the FULL EO way, not just part of it. It's all progress but I will trade a 1/3rd of my full position size on these additional setups until my win % rises. Pretty average week for me tbh as I missed nearly two trading days but i'm seeing an increasing return week on week most weeks now, which is highly encouraging.

What surprises me most about this thread is it's lack of participants. Learning to trade this way isn't easy I grant you, it hasn't come easily to me and to get here, it's been a tough year and a few months in the making. But, the rewards on offer for getting to the level that can be achieved trading this way are simply scarily huge. I'm sure some of these other systems on FF deliver decent result and steady account growth for their users but i'm almost certain that few, if any of them will deliver the results that this approach will in the long term. The real beauty of it is, you know that when you have cracked understanding price action at this level, you have made it for life in trading. You will always be able to trade, once you have deeply understood how price moves and how to trade it.

Ah well, at least we can sit here, safe in the knowledge that we have chosen a challenging but ultimately more rewarding path than most.

Um...sorry about the inane wittering there! It's 5.15 here so nearly time for my Friday appointment at an Ale House of my choice. Have an awesome weekend!

I feel the same way. The more I've read of EO's thread though the more I've seen that the guys who "get it" appear to personalize it, at least some what. Ken is always trying to tell us this as well. So I'm trying to stay determined and "flexible" at the same time.

I think you nailed the reason -- hard work! A lot of people shy away from hard work, regardless of the potential rewards, unless it's already structured for them already (like law school, med school, etc). Here we've got all the material but it's still a personal journey, there are no set steps, you have to find your own way. In EO's thread there were a few instances of people getting mad because they wanted specific, realtime trading calls. They had an incredible trader willing to teach them and answer any question that they had, but yet all they wanted was entry/exit points. Sad really.. I think it's easy to see why the failure rate is so high among traders. A lot of people have the "get rich quick" attitude.

Have a great weekend; a new week starts soon and as always it's a chance to get even better. I'm going to make some new trading sheets to help me out, I'll post them sometime this weekend incase anyone else can benefit from them as well.

Any luck with the platform today Ken? Was that GFT?

I think I might call it a day in 5 minutes when the fed chairman speaks.. he'll probably move the market around when he's speaking, and afterword the liquidity might be too dry to trade

My little share on my view even I dont trade the same way like you guys. I've been a regular visitor here but a silent one.. hehe, but I found the information and the way Ken told us are pretty useful, we really dont need any fansy traffic light indicator, as long as we understand how to trade with price action, I trust it is the key!!

Happy week end to Ken and all.

Cheers
Eric

Beautiful post, Trotty! I think that more people aren't following the thread because EO's system isn't meant for the less brainy among us (myself included). I followed the original thread for months and Ken's for months... just couldn't crack the code. I've finally accepted that my initial expectations for learning/applying this method were unrealistic. I'm working now with a simpler system that I can understand and profit from over time.

Congratulations to you and the others who have made it with EO's sytem (brought along in huge measure by Ken's mentoring and encouragement)! Your success speaks for the system and for each one of you!

[quote=Trotty;4151077] The real beauty of it is, you know that when you have cracked understanding price action at this level, you have made it for life in trading. You will always be able to trade, once you have deeply understood how price moves and how to trade it.[quote]

This is the Goal of this thread Nothing more or less, To help you see what is already there for you to see.

The funny thing for me is always the comments Like in this post itself . I want to trade the complete EO System, I am assuming all the different entries. Which is a good Goal.

But you are trading the complete EO strategy right now. IT isn't take all the ma trades sysytem .

It is: TRADE WHAT YOU SEE NOT WHAT YOU EXPECT

You and and a few others are doing that now. So don't forget the goal: follow price action don't fight it. then if you can learn to enter on the 15 and exit on the hrly then maybe the 4 hr or daily . That is the ulitmate goal.

Have a great weekend, Ken

Thanks for those kind words Mary4x but you probably do yourself a disservice. I don't think anyone on this thread claims to have any higher level of intellect than other traders, I think the only characteristic that bonds us is a desire for big returns.

I'm very, very money hungry. I don't have the "get rich quick" attitude one bit and expect to work hard for my income. I put some money aside over the years to start a business but rather than starting a conventional business, I couldn't see past learning to trade as by far and away the most potentially rewarding business to venture into. It's my life's plan, my retirement and hopefully one day my lovely big villa by the coast, somewhere sunny. So I looked hard for an approach that broke the rules a little. I would be ok with 5-10% a month but I knew there was more to be had and needed to find something that embraced that mindset. I found the thread and made it my unshakeable aim to trade the way those guys on the thread trade and make the crazy gains those guys make. I won't rest until I get there.


I'm still a long way from where I want to be but i'm getting nearer all the time. There was and is nothing stopping you doing the same. It's taken over a year of sticking with the method on and off to start to unravel parts of it, you just have to be prepared to wait for it to eventually click.

[quote=Kenneth Lee;4151759] I probably worded it badly. I take your point and I guess without really realising it, I ONLY trade what I see now. What I meant to say, as above, is that I want to trade up the the level of gains that you and the like in Pippin, Infinity and of course EO make. That, for me, is when I know I have really nailed it.

Hope you're having a great weekend, catch you Monday mate

Hi Mary,
I think you don't have to be smarter or more inteligent trade with this system.Well I like to called method b/c it is method which contains MA's system.You must to see bigger picture of this method.Personally if I start to learn this method I 'll take off all MA's from my chart and just first use horizontal PPa levels form say weekly to 4 Hr chart.Learn how price react @this levels,learn different patterns .If I understand how and what price is doing @ this level I 'll try put there say Fib.MA's etc.
If I start to learn with MA's on my chart I will concentrate only what they are saying too me and will forget another important things.I didn't read EO thread so I am newbie lol but I read almost the whole Ken's thread and I think he try to present this method in big picture which is great.
I don't trade with this method and maybe I never do but I study this method b/c I am interesting just how is works and I will see what happend next).

Mary first study but don't be copy cat.You must find and create your own method u just can't copy something which doesn't work with you .

Only my 2 pips.

FX

I know what you meant Trotty, Just trying to show you that you are at a level from which the gains and Villa you desire are at hand. Even EO and the others never took all the trades all the time.

A lot of those small 1 and 5 oclcok or gump trading was just done when they had the timm and nothing else presented itself. The Bread and Butter or core was and will always be the major reversals off the higher time frame charts that they have the ability to hold. If your not good at seeing when price is going into consolidation trying to trade those Scalps will just make you taek a step back.

Thanks for the compliment , But I am nowhere near the level of EO , Pippin or Infinity or Cisco or others, then again on public forums how do you ever know what someone is trully doing.

What I do bring to the table is what I think is a complete understanding of how a lot of people can see and use price action. It isn't the only way to see it or maybe not even the best. But I am what most would think of as a average person with a bit of above average vision. I can see a result from a bit of explanantion or parts of a whole. Like a designer can see the final product before putting pencil to paper.

I bulit a 40 foot boat once from a 6"x6" scaled drawing , that had a legend bar under it using a set of calipers to get the measurements for the takeoffs. The material I was using was unconventional and the designer wanted a small fortune in my eyes for his plans.

When I first started into forex , My goal had always been to trade a naked chart, I diidn't believe that a person would need a set of alogrithyms to trade succesfully. that all the information is there.

The part of trading I believe most struggle with is un seen and can't be learned from others . That is the art of self discilpline , Without knowing it most of us think that what we are trying to learn isn't being taught well or is beyond us , When in reality it just our ability to use the information that is getting in the way. So we jump fom idea to idea until we find one that SUITS us , it doesn't really but we have found something we can SEE and use it is clear for the first time.

One reason EA's are so popular though rarely work is they can take US out of the equation. But they still fail and normally because people can't leave well enough alone. They will still close early or move stops. It is human nature.

We have been programed from birth to fail at these types of endeavours. We are suppose to be followers not leaders. The fincial sysytems of the world needs us to stay in the pits with our heads down looking up to what they have and Borrow our way to a better life. That is all you hear on how the economy will get better the rank and file of the world need to spend more. More of what they don't have anymore and the banks aren't giving it away any longer.

So until we wake up and say I am The Trader, I know what to do. I don't judge my success or wealth by one trade or one win , But the end results from a daay or a week or a month. Stop looking at dollars start seeing precentages . Don't worry that you don't have a lot of money to trade , Focus on a goal of a positive gain each day and week and month. If you can get to 10% a week that is doubling your money each 2.5 months 4 time s a year with a couple of weeks for no gains thrown in.

One thing I have got from trading that is more important to me than all the money in the world is the knowledge I have learned that I am in control of how I want to feel. That I can be happy working at a shop and trying to trade . That I may take longer to achieve my goal of freedom than I want but if your not happy trying to you wont be happy when you get there either.

A lot of trading is prespective or how we see something. Some can see it others can't Some will understand what your saying others won't. It is a collection of our knowledge our believes and our emotions.

We can be very religous and that can keep us from ever doing certain things because down in our core, We believe that the higher being we owe our lives to doesn't allow such actions.

I hear all the time I enter to soon i enter to late I close with small gains. All those are fear driven. We enter to soon we are scared to miss a trade. I enter to late your scared that your analysis is wrong, We close to soon We are scared to lose the small gains we have made .

Yet we move our stops and give our money away. Because we are the most terrified of having a lossing trade . That we are making even worse by allowing the fear to take control.

It is strange if you pay attention to your feelings while you trade . How once you close the worse trade you ever had how at once you feel better. It is true I have been there everyone has . But we have to understand and work on controling that .

The few I have seen that never really seemed to struggle never did wrong things or renforced bad habbits by doing something wrong that worked out. Most of us have done that and it is a hard thing to break.

Like any bad habbit find one trading idea that works best for you and follow the rules of that idea to the letter for as long as you can . If you can do it long enough you can build a habbitial level to work from if you stumble just pick yourself up and continue.

I have watched a lot of people trade and even in EO's thread He mentions letting some run a bit to far and not trading what he sees. It happens you can't let a mistake rule you.

I and a few other guys share our trading on skype a bit. One made 250 for the week one made 250 for the day and one over 1000 pips for the week. The one that made the most spent the least amount of time watching his computor he made most of it off the GBP/JPY on a trade he let run all week. He also works a fulltime job. When he trades fulltime he has times he can struggle.

Maybe this is a idea some of us can use. IF we can get trades covered and our higher time frames are supporting a larger move, just step away for a while to see if we can let them get passed the next area of interest. That is really what we are doing, We want price to cross the areas we have marked as possible reversing areas on our lower time charts. As they do we can manage our trade take some off as it bounces before then add some back when it crosses and retests.

You know this fear thing has always been a interesting subject to think about. We defeat ourselves so much over it. We can never get trding because of it, Yet we can go to our favorite bar and spend much more money than we lost on our worste trade of the week and feel nothing. Maybe we need to skip a few nights out or a few coffees and crousianst in the mornings. Then take that cash and lay it right in front of your computer and say ok , I blow this much money every week on stuff I don't need , I can replace any loss with this tomorrow. Do whatever you need to do to quit trading with scared money it will never work .

It is a truth of this game that as your account grows you will hold trades longer if the circumstances are the same. If your closing trades with the trend and most of your trades are with the trend you will start to hold them a bit longer . Because you will get to the point that you don't FEEL like you need that money from this one trade. But you have to get there and you have to get there in a way that you are trading proper.

I love to scalp it is like playing a video game to me but it doesn't build good trading habbits , because I sclp in any direction not just with areas where I could get 30 or 40 pips. I can grab 10 or less and feel as if this is a successful scalp and to some it is. you can gain over 20% a week on 20 pips a day and if this is the only way you can do it. how can anyone say it is wrong.

But with a bit of practice and what I now do is , try and just grab the scalps with the trend they will be worth more. You may find yourself trading less and gaining more money. I haven't been trading a lot latelly but at almost anytime of the day I can find a trade. But you have to understand the possiblities of when your trading.

I get a lot of comments from people that don't have lots of tiem to trade and they wonder if they can still do it. If you take the time to do your pretrading work mark your levels of interest and what the m,arket should do and be prepared you surelly can. The you can also use Pending Orders. to enter the trades. A lot of traders use PO's as they let them get in just where they want. This can also help with those that get in to early if it hits fine if it doesn't look for the next one.

If you use tight stops you could put a PO at each trading Zone ( Fib ) level , each with a OCO ( one cancles the other ) order attached. So when it does turn at your level your in. If you risked say 15 for each entry and had a 50 Tp or a traling stop. At some pointyou will have a runner. So when you get into a trade and are able to check you then can just manage it.

This will of course be better on the hrly and 4 hr maybe daily but I find that it could take days on the daily. But a daily level would be the best for a entry as then your TP would be based of it.

I was thinking today as I rode my bike around the Island at sunrise. How everytime we sit down at the computer to trade , We right then have the chance to change everything and become the best traders around. I like sunrises better nthan sunsets because of this. Each sunrise is a beggining not the end . Like the qoute says today is the first day of the rest of our lives.

WE have to build that idealogy that we are great traders , We have to believe it and feel it. If everytime we trade there is doubt and confusion we will struggle . Those that have made it trading did so by replacing that doubt with the reality that they are now traders. If you can or do meditate do some affirmations and run your trading plan through your mind. Read emotion free trading . and try that part.

In your REAL life when you can act the part of the person you want to be. Go to a nice restraunt in a 4 or 5 star hotel . Have a drink at a nice club. Talk of your success to others. Become that person you are trying to become.

If you struggle to build your account , Try and collect some funds from some area that you could or should do without. then you can gain two fold. Maybe stop having to many drinks everyday . or a large lunch . try and save a bit.

To be a successful person is a whole package not just a one thing deal. You can't hangout with all the same users you have known and think you will become anymore than them as that IS your peer group. Find a new peer group talk finacials with travelers in your area . There is a wealth of knowledge out there for free. Learn from others both their accomplishments and their failures.

So try one of many equity bulding ideas , Stay focused ask questions , treat this as a proffession and act proffessionally. You are trying to be a whitecollar worker maybe from a bluecollar world. So act the part, , we all act in our jobs. I spent more time pretending to be someone I wasn;'t when I had the profitable jobs. After all we are trying to become someone different with a new set of goals .

Anyone ready to jet over to Nar'lens ( New Orleans) for some gumbo?

But above all no matter what happens , Be Happy, Ken

Hi Ken.. it's been a while since i don't post here... but i ALWAYS read all the very interesting posts here and see how people grow up with their trading. I have been studying a lot, reading a lot, spending a lot of time in front of charts and suddenly realized that... the biggest "enemy" of my trades was.... ME. Fear, greed.... u can read it everywhere, u can hear people saying it over and over again, u can even master EO's system or whatever system works for yourself that allows u to get to the "perfect entrance" from the higher TF but u'll never be able to break it if u don't have the right mindset. I still have a lot to learn and i have to admit that... just after 9 months of trading i was able to manually get rid of a trade IF i see that it's not going the way i was planning. Of course i had my S/L placed but... if it doesn't go, why to let my S/L hitted when i SEE what is happening? so i closed my trade at -19, when my S/L was placed at -40 ... and price went against me 100 pips!!!! Maybe was just a lucky guess, maybe if i was going to close the trade and then i was right i wouldn't be here writing this and i would be hitting the wall with my head, but really.. that was one of the "best lost" i ever made. I felt i was in control of myself, i was cold enough to control and decide what to do even when i was losing money (even though not much.. but still). In that moment i felt i reached another level of my trading method.

As for the percentage.. i couldn't agree more. What matter is not just the "amount of money" u can make, but the percentage u are able to get with some consistence. Everybody here and there had a "lucky trade" where they get over 200 pips in a single trade, but what matter is how much u can get in return with consistency. I would like then to repeat here what my good friend Wormboy told me long time ago, and that is to have realistic goals, and to treat trading as a business. Count monthly return, don't chase the daily gain, chase the monrthly gain. U could even get the whole month percentage in a single trade eventually. He told that a 2-3% on a mothly basis is already a good result (35% in a year is definitely not bad). If we don't have the pressure to make 10% in a week.. we can take trading with a different perspective, more relaxed. With this goal in mind.. he is able to averaging a 5-8% per month..., which is kinda 70% in a year (assuming u cash all the gains u get per month).

About the time being in front of the screen... i have to honestly say that... the best trades i did were made when... i wasn't in front of my screen! i put the trade, set my S/L, eventually my TP and then go out.. go jogging, go watch a movie and whatever and..... set some alarms at some certain points and forget about it. Of course this mean to be still immature as trader, but everybody need to go thru his path. When i wasn't in front of the pc of course i was thinking about it.. and was curious... but i tried not to do it. Again one of the very precious advices that Azim told me was... u need to adjust your lot size and your risk per trade knowing that u can go to sleep on it and not losing a single minute of sleep thinking about it, about how much it will hurt u if u lose, or how rich u will get if u win.

Here is my experience till now.... just wanted to contribute to the thread once in a while.

Have a good weekend guys!

For anyone currently trading the Asian session might want to take a peek at E/J.. It could hit 113.5X-113.6X in the next few minutes which I have marked as a level of intensive confluence.. 4H 200/50/50% fib level plus daily 35 and weekly 5. It's stalling at the weekly pivot right now, 113.7X but I think it'll break through and hit 113.50-60. Here's the 4H chart