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Ken's Continuing Successes with EO's system

  • #2,401
  • Nov 7, 2010 8:06pm Nov 7, 2010 8:06pm
Hey guys I hope everyone is trading well.I do not post here much but thought you may find this interesting.This is a trendline on the daily chart off the high back in 2007.
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Please ask questions and share your experiences with us all!
  • #2,402
  • Nov 7, 2010 8:31pm Nov 7, 2010 8:31pm
Quoting dr mongolia
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
I was pretty lucky to get out BE on this one, I covered after 10 pips which I thought was much too quickly at the time but then price shot downward. It's at the 200SMA on the 15M now plus the 61.80% fib level on the 4H.. But price is so volatile and not making much sense, going to wait on the sidelines
  • #2,403
  • Edited Nov 8, 2010 12:30am Nov 7, 2010 9:13pm | Edited Nov 8, 2010 12:30am
I just read the posts from this weekend, awesome stuff. I really appreciate everyone on this thread who takes the time to post and I'm sure that I speak for countless others as well.

I wanted to quote this line specifically from Ken's post because I think there's so much truth to it:

Quoting Kenneth Lee
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.
I've been trying to learn this system for several months now, 6-7 days a week of several hours a day. However, I've found it to be extremely interesting that almost 80-90% of my breakthroughs in understanding happened on just a few scattered days here and there -- those times when you're staring at charts and suddenly something new clicks, or when you read something that really resonates with you. The thing is, you never know when you wakeup if it's going to be one of those "aha" days or not. But surely if you wakeup and make a deal with yourself to put in as much effort as humanly possible you'll have a better chance. That's the attitude that I've been trying to take throughout this journey and I do believe it has helped me progress faster then I otherwise would have -- every day is a "challenge" or game against yourself to see how much you can improve as a trader. The very act of striving to become a better trader is a great way to build discipline, which is proably why you see so many "old timers" that have ice water running through their veins. They had to put in a lot of blood, sweat, and tears to get where they are at, so a small loss on a trade that had a favorable R:R at a key area isn't going to phase them.
  • #2,404
  • Nov 8, 2010 2:15am Nov 8, 2010 2:15am
Quoting dr mongolia
I just read the posts from this weekend, awesome stuff. I really appreciate everyone on this thread who takes the time to post and I'm sure that I speak for countless others as well.

I wanted to quote this line specifically from Ken's post because I think there's so much truth to it:



I've been trying to learn this system for several months now, 6-7 days a week of several hours a day. However, I've found it to be extremely interesting that almost 80-90% of my breakthroughs in understanding happened on just a few scattered days here and there...
It was a pretty inspiring sort of post from Ken, this thread has certainly taken a turn toward the profound recently. I suspect he'd make a good sports coach!

I've noticed how much price is moving during Asia recently. Really bugging me as many pairs have already done their ADR's for the day by the time I even look at the charts and that always makes me very nervous about taking positions that take price past the ADR further.

Lots of flags forming this morning, i'm sitting this out for a little bit I think, I have a full trading week ahead of me, no need to rush.
  • #2,405
  • Nov 8, 2010 3:32am Nov 8, 2010 3:32am
Quoting dr mongolia
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
Don`t trade against LH ( look at daily also ). Got also ib ranging, more candle involved with range ( creating base ) the stronger breakout will occur.
  • #2,406
  • Nov 8, 2010 4:24am Nov 8, 2010 4:24am
GU ang GJ shorts taken this morning but covered after 20 pips each due to the ranging this morning. I was going to take 1:1 on each to bag early profit for the start of the week but both got within a few pips of giving me the win and then went back to hit SL at BE.

Frustrating mornings when they are like this.
  • #2,407
  • Nov 8, 2010 4:35am Nov 8, 2010 4:35am
For info. Entry was absolutely fine, they don't always win. but SL being moved to BE at a logical point prevented this being a losing trade.
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  • #2,408
  • Nov 8, 2010 4:48am Nov 8, 2010 4:48am
Quoting Trotty
For info. Entry was absolutely fine, they don't always win. but SL being moved to BE at a logical point prevented this being a losing trade.
No doubt entry was good. It seems that 130.75 ppa line was strong, price try to break it but failed. We even have a 15m candle close under and we see how players jump at pullback with that ppa line ( and later opposite situation ). Notice also that we have bullish divergence there creating with false breakout.
  • #2,409
  • Nov 8, 2010 4:55am Nov 8, 2010 4:55am
Quoting kodziro
No doubt entry was good. It seems that 130.75 ppa line was strong, price try to break it but failed. We even have a 15m candle close under and we see how players jump at pullback with that ppa line ( and later opposite situation ). Notice also that we have bullish divergence there creating with false breakout.
Yep, I was a bit worried about the support area on the trade but it obviously got broken on the recent low.

Anyhoo, don't be afraid to re-enter the market at a better point. Found another entry for another bash at the short. Still struggling with that line so may take some profit early here:
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  • #2,410
  • Nov 8, 2010 5:18am Nov 8, 2010 5:18am
Hi there everyone,

Been reading this thread and read the PDF recently.

What you guys think about the levels we currently are on Usd/Chf 4H charts and GBP/USD 4H charts.

The current Usd/Chf 4H candle has been struggling to close above previous 4H candle highest wick

The current Gbp/USD 4H candle also has been sturggling to close below the previous low of the previous 4H.

Any opinions to share?

Thanks
  • #2,411
  • Nov 8, 2010 6:03am Nov 8, 2010 6:03am
Quoting Trotty
Yep, I was a bit worried about the support area on the trade but it obviously got broken on the recent low.

Anyhoo, don't be afraid to re-enter the market at a better point. Found another entry for another bash at the short. Still struggling with that line so may take some profit early here:
No momentum at all, trade closed for about 0.7:1.

Not the perfect start to the week but some profit. Ugly morning really.

Should mention that my entry was halfway down the entry candle, it was late due to me missing the intial touch. If i'd grabbed the touch on this, i'd have got full profit at least.

Ah well.
  • #2,412
  • Nov 8, 2010 6:11am Nov 8, 2010 6:11am
Quoting Trotty
No momentum at all, trade closed for about 0.7:1.

Not the perfect start to the week but some profit. Ugly morning really.
Yep main movement was in Assia session but still good for quick scalps.I got some on E/J from 10 Ema.
  • #2,413
  • Nov 8, 2010 7:14am Nov 8, 2010 7:14am
Ken
Great post this weekend. Having read the disciplined trader years ago, I got half way through “Trading in the Zone” this weekend and as so often is the case, we seldom need to be told, but we often need to be reminded. It was yet another good reminder that 75% of my battle is with that piece of suet between my ears.


It’s also very refreshing to hear from folks that are actually make a living at trading and not just selling trading related items or services.



Thanks again for your efforts here.
Consistency separates luck from Skill
  • #2,414
  • Edited 7:38am Nov 8, 2010 7:25am | Edited 7:38am
Quoting Fxfighter
Yep main movement was in Assia session but still good for quick scalps.I got some on E/J from 10 Ema.
Nice work, i'm staying out now unless some nice moves begin to appear.
  • #2,415
  • Nov 8, 2010 8:02am Nov 8, 2010 8:02am
Quoting Trotty
Nice work, i'm staying out now unless some nice moves begin to appear.
There is always opurtunity and specialy with this system u can always grab some pips.
I try this system first day and what I can see even in this though condition you can have some pips and hm they are good tool save my ass lol.I enter in assia session pretty bad touch long trade but Ema 62 save my ass I mean I trust her so in really bad trade I even got out with some profit lol).I really never used any Ma even I had some on my chart ,but they can help a lot at least what I can see.
Off course I use them like combination with another thinks just try to keep simple as how much can be.
Patterns sesction in this thread is fantastic as well.At the moment perfect play E/J like H@S with 21 Ema is great opurtunity for quick scalp to 35 or 50Ema I mean in my view.
So thanks guys for another tools.
FX
  • #2,416
  • Nov 8, 2010 8:26am Nov 8, 2010 8:26am
And also what said Kenn you can be in the market all the time b/c each trade is going to another trade but is hard work put all those little bits together.It is not easy but simple .I never trusted to these skinny noodles but they can be very tasty.
FX
  • #2,417
  • Nov 8, 2010 8:51am Nov 8, 2010 8:51am
Another great scalp E/J from 50 Ema.Guys I just LOVE IT!!!!!
fx
  • #2,418
  • Nov 8, 2010 8:57am Nov 8, 2010 8:57am
Quoting kodziro
Don`t trade against LH ( look at daily also ). Got also ib ranging, more candle involved with range ( creating base ) the stronger breakout will occur.
Yeah trade was risky according to the daily but with the 50/50 setup I felt confident I'd atleast get room to cover. In regards to not trading against lower highs (Im guessing that's what LH means), do you not take the 50/50, 62/62 etc trades? Or you just wait for additional confirmation before jumping onboard?

They definitely pay out well although the 4H ones take much longer to turn.. like turning an aircraft carrier around I guess. The 15M/1H ones often turn on a dime. The right way to execute the 4H ones would probably be to wait for a close above the 15M 10 or some other confirmation.
  • #2,419
  • Nov 8, 2010 9:00am Nov 8, 2010 9:00am
Quoting Fxfighter
Another great scalp E/J from 50 Ema.Guys I just LOVE IT!!!!!
fx
Yea lot of trades in that area. First would be a quick scalp at 50ema after the two big momentum bars, got 61.8 fib and ppa as well as s2. Next is long with ib pin on the same candle after it close. Price comes back again close under 50ema as a nice pin and we also got hidden bearish divergence to further support the down move. Good stuff
  • #2,420
  • Nov 8, 2010 9:00am Nov 8, 2010 9:00am
People specialy newbie like me like to do silly CT and with these noodles is pretty save that kind of trading in my view.
Sorry for for posts with too much exiting words but I must to say wooooooooooau.I hope market kick my ass soon and little bit take me down lol but with these guns hm I don't know lol
Happy trading guys.

Ps. Just ingnore my posts.
FX
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