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Ken's Continuing Successes with EO's system

  • #2,541
  • Nov 10, 2010 7:09am Nov 10, 2010 7:09am
Got stopped out of short g/j just now....thanks to my stop.

Same goes to usd/chf short and usd/jpy shorts.

Im shorting Usd/Chf again @ 0.9740 due to resistance on 4H and daily.
SL 40pips above

Also long e/u @ 1.3770
SL @ 30pips below
  • #2,542
  • Nov 10, 2010 7:17am Nov 10, 2010 7:17am
Ken,

I'd be really grateful if you could review a setup that I watched form, very nearly took but thought better of it. On EU, we are under the M15 MAs, still in a downtrend but ranging around a bit. When I saw the inverted hammer (put hanging man on the chart, meant hammer) close no lower than the previous IB, with the pin still in play as PPA, I was prepared to take a long up to the MAs.

As a scalp, is this a setup you would take if you saw it? I frankly bottled it but it has now just played out as I thought it might.

I'd be grateful for your thought buddy
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  • #2,543
  • Nov 10, 2010 8:06am Nov 10, 2010 8:06am
Good morning fellas, just sitting down at the market, I really need to train myself to be awake during the night, there are some pretty sweet moves overnight.
  • #2,544
  • Nov 10, 2010 8:07am Nov 10, 2010 8:07am
Quoting ReaperKK
Good morning fellas, just sitting down at the market, I really need to train myself to be awake during the night, there are some pretty sweet moves overnight.
Good afternoon here

Not traded much today, keep missing the good entries and not that many that I like to take so far.

What I am liking is that a lot of pairs have the mas begining to line up again. 15m over 1hr, over 4hr. Trading is a lot easier when it's like that....
  • #2,545
  • Nov 10, 2010 8:14am Nov 10, 2010 8:14am
What pairs do you trade Trotty? I'm relatively new to this strategy but since going full time, I wanted to work on something that gives me better entries and this certainly helps.

I used to be strictly a 4hr and daily TF trader.
  • #2,546
  • Nov 10, 2010 8:17am Nov 10, 2010 8:17am
Quoting ReaperKK
What pairs do you trade Trotty? I'm relatively new to this strategy but since going full time, I wanted to work on something that gives me better entries and this certainly helps.

I used to be strictly a 4hr and daily TF trader.
I trade EJ, EU, GU, GJ and AU mate. 7.00-18.00 UK time.

It's a brilliant strategy but the one thing i'm learning more and more from reading the EO thread (350 pages in now) is how much he uses trendlines and channel lines in his trading. He's basically using every tool available except indicators and fibs so as a result, it takes some times to bed it all together.

You have to put your own stamp on it a bit too I find.

How long have you been FT?
  • #2,547
  • Nov 10, 2010 8:42am Nov 10, 2010 8:42am
Waited patiently for this.

The retrace candle is smaller than the momentum candles and reversed off a small doji. It's an obvious retrace to me rather than reversal and the 1'oclock 10 ema with 62 ema gives us the ideal entry. Stop at BE now after initial 23 pip move so lets see if it goes or not.
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  • #2,548
  • Nov 10, 2010 8:43am Nov 10, 2010 8:43am
Arse, stopped out BE again. Maybe should have let it breath a little more but 20 pips is usually good to cover.

Ah well, entry was sound...next!
  • #2,549
  • Nov 10, 2010 8:46am Nov 10, 2010 8:46am
I've been FT since May of this year when I graduated from college. I've been doing pretty well and I've been living off my trading. Since going FT though and not having classes to worry about I have a lot of time on my hands, time that could be used to make some better entries.
  • #2,550
  • Nov 10, 2010 8:47am Nov 10, 2010 8:47am
Quoting Trotty
I trade EJ, EU, GU, GJ and AU mate. 7.00-18.00 UK time.

It's a brilliant strategy but the one thing i'm learning more and more from reading the EO thread (350 pages in now) is how much he uses trendlines and channel lines in his trading. He's basically using every tool available except indicators and fibs so as a result, it takes some times to bed it all together.

You have to put your own stamp on it a bit too I find.

How long have you been FT?
Hey Leeds Fan,
How are you?I've got bloody so not well.Anyway a few trades today and also tons of great set ups missed like always but not any excuses just bloody newbie ass or rather to say newbie eys as my ass is cover very well.It is bloody freezing down here in London and you are right about patterns and TL.
  • #2,551
  • Nov 10, 2010 8:47am Nov 10, 2010 8:47am
Just grabbed 13 pips off of the morning star (almost doji) on EJ

Also grabbed 5 pips on GU with a similar trade.
  • #2,552
  • Nov 10, 2010 8:50am Nov 10, 2010 8:50am
Quoting Fxfighter
Hey Leeds Fan,
How are you?
I'm ggod thanks, well apart from last night. 2-2 with Hull and we dominated

You have a team?

Quoting Fxfighter
I've got bloody so not well.Anyway a few trades today and also tons of great set ups missed like always but not any excuses just bloody newbie ass or rather to say newbie eys as my ass is cover very well.It is bloody freezing down here in London and you are right about patterns and TL.
Freezing in Manchester as well but a bright and crisp day!

How many pips today?
  • #2,553
  • Nov 10, 2010 8:51am Nov 10, 2010 8:51am
Quoting ReaperKK
I've been FT since May of this year when I graduated from college. I've been doing pretty well and I've been living off my trading. Since going FT though and not having classes to worry about I have a lot of time on my hands, time that could be used to make some better entries.
Good for you mate. Ever see yourself doing an employed job one day then?
  • #2,554
  • Nov 10, 2010 8:57am Nov 10, 2010 8:57am
Well my degree is in Computer Engineering so I said I'd give trading a year and see if I can make a living off of it, if I can't then I'd get a "real" job (as my family and friends call it) but there was a period where I looked at jobs using my qualifications and it's cubicle hell.
  • #2,555
  • Nov 10, 2010 9:04am Nov 10, 2010 9:04am
Quoting ReaperKK
Well my degree is in Computer Engineering so I said I'd give trading a year and see if I can make a living off of it, if I can't then I'd get a "real" job (as my family and friends call it) but there was a period where I looked at jobs using my qualifications and it's cubicle hell.
That's the UK in a nutshell now.

A service based economy with a work-force that used to make things once now manning phones in call-centres on kissing desks.

I guess the working conditions are better but can't say it'd be my cup of tea.
  • #2,556
  • Nov 10, 2010 9:10am Nov 10, 2010 9:10am
Lol, when I was interviewing for jobs I was being shown around the office and it just hit me, I cannot do this. There is more to life then coding in R&D in a firm for whatever.

I'm young, might as well take some risks, who knows where this trading thing will lead me.
  • #2,557
  • Nov 10, 2010 9:25am Nov 10, 2010 9:25am
Quoting Trotty
I'm ggod thanks, well apart from last night. 2-2 with Hull and we dominated

You have a team?



Freezing in Manchester as well but a bright and crisp day!

How many pips today?
Well I don't have exactly team but like to watch good fotbal.One of my mates he is Cardif fan I remembre you,ve losted with them 3-0?I watchnig results.I remmber when Mark Viduka play for your team you played very well.Well Leeds was great team in past.
How many pips?Well I am not much focus on pips but at the moment locket 70 and still in one trade.I do trades with dif.sizes.I am pretty shit with pips, I don't hold trades long which is not good just look now @ E/U One trade and u can grab more than I did for many hours))).
Anyway I am in the stage I try to find best entries so fucusing on entries so at the moment I am really bad with managing my trades.I know in this bussines is fine loss but try to don't have any if any very minor and I am very happy with this process.As you said I just try to walk and as Kenn said try to have good entry .
That Kenn's PDF about 66 pages is like trader bible.
  • #2,558
  • Nov 10, 2010 9:29am Nov 10, 2010 9:29am
Quoting Fxfighter
Well I don't have exactly team but like to watch good fotbal.One of my mates he is Cardif fan I remembre you,ve losted with them 3-0?I watchnig results.I remmber when Mark Viduka play for your team you played very well.Well Leeds was great team in past.
How many pips?Well I am not much focus on pips but at the moment locket 70 and still in one trade.I do trades with dif.sizes.I am pretty shit with pips, I don't hold trades long which is not good just look now @ E/U One trade and u can grab more than I did for many hours))).
Anyway I am in the...
I know what you mean. Trade management is my biggest problem.

Eclayf who started the "Dance" thread used to trail his stop up per candle. Every positive close, stick you stop a pip or two under. You'd obviously be stopped out on any deep retrace but in those trades that just go and go, you'd be in it all the way up or down.

That's one way, the best traders seem to have targets in mind and hold until they get them.

The holy grail may indeed be trade management!
  • #2,559
  • Nov 10, 2010 9:44am Nov 10, 2010 9:44am
Quoting Trotty
I know what you mean. Trade management is my biggest problem.

Eclayf who started the "Dance" thread used to trail his stop up per candle. Every positive close, stick you stop a pip or two under. You'd obviously be stopped out on any deep retrace but in those trades that just go and go, you'd be in it all the way up or down.

That's one way, the best traders seem to have targets in mind and hold until they get them.

The holy grail may indeed be trade management!
Yes I agree that's holy grail but i will be there I am sure I never give up.No fck way!!.
  • #2,560
  • Nov 10, 2010 9:45am Nov 10, 2010 9:45am
EJ is treating me pretty nicely this morning, I'll post a chart soon with the few trades I took.
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