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Ken's Continuing Successes with EO's system

  • #3,021
  • Nov 25, 2010 5:41am Nov 25, 2010 5:41am
Quoting dr mongolia
Here's the trades I was just talking about if they help anyone..

First chart is A/U. Green area highlights the PPA area, Ken should beat us if we miss this one because he's got examples of it all over the thread. Red arrow shows the short entry.

Second chart is E/J. I missed it from the top so I waited for it to cross and retest the green PPA area then entered short on the red arrow. I took some profit, now short again from the second red arrow.

I missed G/U from the top, but I did get an entry just now. It's the same idea as the E/J trade....
Hi Dr,
I am totaly new in trading and new in this method so I understand u have tons of experience and feel confident with this method and of course we are using stops if doesn't work but in my view that A/U trade was just to riskie for my licking.I mean not enough confluences take that trade for my trading style.
Thank you for posting every chart and your thoughts are great learning material guys.
Thank you.
KR
Attached Image (click to enlarge)
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  • #3,022
  • Nov 25, 2010 7:48am Nov 25, 2010 7:48am
Gu and ej are pretty tough to trade right now. Perhaps its the less liquidity from bank holiday. Gu whipping back and fourth and ej trending upwards in 15min channel, but pa is messy, to me at least. Might look for a short on 111.60ish if it comes up.

Hows it going for everyone?
  • #3,023
  • Nov 25, 2010 8:05am Nov 25, 2010 8:05am
Quoting Storeball
Gu and ej are pretty tough to trade right now. Perhaps its the less liquidity from bank holiday. Gu whipping back and fourth and ej trending upwards in 15min channel, but pa is messy, to me at least. Might look for a short on 111.60ish if it comes up.

Hows it going for everyone?
Not taken a trade yet today, as expected the markets are slow and choppy because all the US traders are busy filling their faces with Turkey!
  • #3,024
  • Nov 25, 2010 8:25am Nov 25, 2010 8:25am
Quoting Trotty
Not taken a trade yet today, as expected the markets are slow and choppy because all the US traders are busy filling their faces with Turkey!
Probably true

Yepp havent seen that much either for today.

Had an ascending triangle on gu and eu this morning which would've been nice. I was following as well actually, but they both ended up without me claiming the pippage
  • #3,025
  • Nov 25, 2010 8:31am Nov 25, 2010 8:31am
Quoting Storeball
Gu and ej are pretty tough to trade right now. Perhaps its the less liquidity from bank holiday. Gu whipping back and fourth and ej trending upwards in 15min channel, but pa is messy, to me at least. Might look for a short on 111.60ish if it comes up.

Hows it going for everyone?
Went long at gu with yesterdays low after 1h try to make new low but got BE, still holding short at uj with yesterdays high same reason. Got only profit with long 1.3308 at eu after 1h close above that level ( was tested couple of times during asia )
  • #3,026
  • Nov 25, 2010 8:41am Nov 25, 2010 8:41am
Quoting kodziro
Went long at gu with yesterdays low after 1h try to make new low but got BE, still holding short at uj with yesterdays high same reason. Got only profit with long 1.3308 at eu after 1h close above that level ( was tested couple of times during asia )
I think you have an upper hand on most of us here kod

You seem to always consistently fill your truck with pips no matter what, great stuff!

Your still doing your routine with mostly following up on 4h, 1h closes ?
  • #3,027
  • Nov 25, 2010 8:51am Nov 25, 2010 8:51am
Quoting Storeball
Probably true

Yepp havent seen that much either for today.

Had an ascending triangle on gu and eu this morning which would've been nice. I was following as well actually, but they both ended up without me claiming the pippage
Damn!

AU has almost actually stopped, lol. An 18 pip range for about 4 hours....
  • #3,028
  • Nov 25, 2010 9:30am Nov 25, 2010 9:30am
Quoting Storeball
I think you have an upper hand on most of us here kod

You seem to always consistently fill your truck with pips no matter what, great stuff!

Your still doing your routine with mostly following up on 4h, 1h closes ?
Maybe consistently but not truck yet.

Yes if i trade intraday always checking a 1h closes and look for the same setups over and over again. Keeping in mind what i`m looking for every hour got me more focused and disciplined.
  • #3,029
  • Nov 25, 2010 9:45am Nov 25, 2010 9:45am
We're a pretty nice group here atm on this thread, and we all seem to be at least at a point where we have a pretty good idea of what eo and now ken are teaching us.
Would having a place to chat online from time to time be a good idea? We've got the thread here, but im thinking more for some quick interactions while we're trading, what we're looking at right now etc. Might become more alert to the charts when you got another set of eyes looking at the same stuff at the same time.

I don't know if it would be more distracting then useful doing something like that though, but if it works out ok it would be be another way to discuss some views and pull in the same direction.

Watcha think?
  • #3,030
  • Nov 25, 2010 10:07am Nov 25, 2010 10:07am
Quoting kravmaga39
Hi Dr,
I am totaly new in trading and new in this method so I understand u have tons of experience and feel confident with this method and of course we are using stops if doesn't work but in my view that A/U trade was just to riskie for my licking.I mean not enough confluences take that trade for my trading style.
Thank you for posting every chart and your thoughts are great learning material guys.
Thank you.
KR
Hey, just saw your chart. Your reasons are definitely valid for not taking the trade, and any time you're not sure, just stand on the sidelines and study what happens. I am definitely not an expert, or even a good trader -- I'm just a guy that's here to learn, and I've got a long long way to go. But I've seen these trades enough times to start to see the pattern in how they develop, mainly because I try to catch the opening of every session (London, NY, Asia). After you've seen enough of these trades you'll be nailing them regularly. Here's my comments on your chart, in response to what you saw:

"Prior strong bullish candles" -- When you see some momentum heading towards a very strong PPA zone you've got to stop and ask yourself what's going on. In this case, it's a runup at the opening of the session to test the PPA zone before picking the direction.

"Closed above resistance" -- I can see that you made your PPA zone narrower then mine; on the 15M, make sure you take into account that candle with the huge wick to the left. Even if you normally wouldn't trade that candle (I would, though) we're at the beginning of a session and you will almost always see a big test of the area to decide which direction we are going to take for the session. Also, make sure you check the other TFs -- I didn't post the 1H, but if you check your 1H you'll notice that we were at the turn of a new 1H candle and it closed RIGHT on 0.9848. If you had to pick 1 S/R line in this area, it would be that line, to the pip. It's been a very, very strong line lately and I've gotten a lot of trades off of it. If we weren't at the turn of a 1H and price closed above that area I still would have taken the trade, as long as it closed below the wick to the left. However, since we were at the 1H turn, if it would have closed above 0.9848, I would have sat on the sidelines (check the 1H and you'll see what I mean). The 1H turn is very important so always keep it in mind.

"MA's are up" -- You are absolutely correct and the safest trades are always in the direction of the MA's, so you've got to go into the trade with a tight stop. The majority of your trades should be in the direction of the MA's. Just keep in mind that if you always trade with the MA's, you'll miss the big reversals (BUT you can get in later on the MA retests, in the direction of the new trend).

Hope this helps.. Again I'm just a new guy learning like everyone else so keep trading what YOU see, but this is how I saw the move.
  • #3,031
  • Nov 25, 2010 10:07am Nov 25, 2010 10:07am
Quoting Storeball
We're a pretty nice group here atm on this thread, and we all seem to be at least at a point where we have a pretty good idea of what eo and now ken are teaching us.
Would having a place to chat online from time to time be a good idea? We've got the thread here, but im thinking more for some quick interactions while we're trading, what we're looking at right now etc. Might become more alert to the charts when you got another set of eyes looking at the same stuff at the same time.

I don't know if it would be more distracting then useful doing something...
When I used to trade "The Dance" (a spin-off of this approach), we did and had exactly that.

In many ways it was great whilst it lasted and given that I was FT back then, it helped break up the day from sat staring at charts on my own!

Where the problem existed was that most of the traders in the group were far too inexperienced and you would spend more time trying to teach folk to trade rather than actually discussing possible setups etc. It got pretty big at one point with maybe 30 people in there but most were looking for free trade calls tbh. In the end, it died out because the guy who started it actually turned out to have commercial interests and wanted to start signal services and the like so he closed it down.

I'd be happy to join one again but as i'm working, I wouldn't be able to spend that much time in there until I go FT again next year. What I would say is that a minimum requirement for joining should be a base level understanding of trading and of the EO methodology otherwise you'll find you'll be spending your days hand-holding new traders and you'll lose focus on what matters most.

Just my two-penny's worth bud
  • #3,032
  • Nov 25, 2010 10:14am Nov 25, 2010 10:14am
Quoting dr mongolia
Hey, just saw your chart. Your reasons are definitely valid for not taking the trade, and any time you're not sure, just stand on the sidelines and study what happens. I am definitely not an expert, or even a good trader -- I'm just a guy that's here to learn, and I've got a long long way to go. But I've seen these trades enough times to start to see the pattern in how they develop, mainly because I try to catch the opening of every session (London, NY, Asia). After you've seen enough of these trades you'll be nailing them regularly. Here's my comments...
That's a cracking explanation doc....hang on, aren't you supposed to be chowing down on a bird?

I have never taken a trade like this but actually, your explanation has made it very clear why you did. Astute trading bud
  • #3,033
  • Nov 25, 2010 10:15am Nov 25, 2010 10:15am
Quoting Trotty
The way my mind looks at this trade is that it's been rejected off that area and come down and consolidated for a while....
Hey, I didn't see this post earlier, I gave an explanation above in response to someone's chart on the trade. I took it as a test off of a PPA area that you can see on the 15M and 1H, we get these a lot at the opening of a session. As far as the HTFs, my H4 closed right on the 50 to start the new trading day (GMT time) so I liked that too, but it was really just a PPA trade.
  • #3,034
  • Nov 25, 2010 10:22am Nov 25, 2010 10:22am
Quoting Storeball
We're a pretty nice group here atm on this thread, and we all seem to be at least at a point where we have a pretty good idea of what eo and now ken are teaching us.
Would having a place to chat online from time to time be a good idea? We've got the thread here, but im thinking more for some quick interactions while we're trading, what we're looking at right now etc. Might become more alert to the charts when you got another set of eyes looking at the same stuff at the same time.

I don't know if it would be more distracting then useful doing something...
Sounds like an awesome idea to me. I agree with Trotty that the purpose of the chat should be defined in a way that keeps most of the "learning stuff" on the thread, then use the chat for realtime analysis, details etc. Just an idea.
  • #3,035
  • Nov 25, 2010 10:26am Nov 25, 2010 10:26am
Quoting Trotty
When I used to trade "The Dance" (a spin-off of this approach), we did and had exactly that.

In many ways it was great whilst it lasted and given that I was FT back then, it helped break up the day from sat staring at charts on my own!

Where the problem existed was that most of the traders in the group were far too inexperienced and you would spend more time trying to teach folk to trade rather than actually discussing possible setups etc....
Hey trotty, we have a very active group still running on dance thanks to Kostas. You may have a look here.http://www.forexfactory.com/showthread.php?t=236210
Making money is easy- Just dont take losing trades
  • #3,036
  • Nov 25, 2010 10:29am Nov 25, 2010 10:29am
Quoting Trotty
That's a cracking explanation doc....hang on, aren't you supposed to be chowing down on a bird?

I have never taken a trade like this but actually, your explanation has made it very clear why you did. Astute trading bud
Thanksgiving for me starts in a couple hours (late lunch); I've been up since 1AM local time trading London so I'm not sure I'll be a very good lunch guest . I figured the US session would be a waste today, and Asia might be really slow as well, so I wanted to get some screen time in.

I've been good with HTF S/R, trendlines etc but never fully gotten the details of PPA candle analysis down so it's something I've been focusing on. Ken has a lot of posts on it that I've gone back and reread. I've got a lot more rereading to do but looking for past candles to play off of, in conjunction with S/R and MAs, has given me a lot more entries this week and it's really helped me a lot.
  • #3,037
  • Nov 25, 2010 10:32am Nov 25, 2010 10:32am
Quoting Survivor
Hey trotty, we have a very active group still running on dance thanks to Kostas. You may have a look here.http://www.forexfactory.com/showthread.php?t=236210
Cheers man, I know Kostas well from the very same group

There's little in the Dance that isn't here, it's just focussed on a few specific entries - entries that are all sound as a standalone approach.

I prefer it here because we're all trying to learn all of the entries that EO concocted and one day reach the sorts of levels of pippage that pin-striped buffoons in London and NY could only dream about
  • #3,038
  • Nov 25, 2010 10:35am Nov 25, 2010 10:35am
Quoting dr mongolia
Thanksgiving for me starts in a couple hours (late lunch); I've been up since 1AM local time trading London so I'm not sure I'll be a very good lunch guest . I figured the US session would be a waste today, and Asia might be really slow as well, so I wanted to get some screen time in.

I've been good with HTF S/R, trendlines etc but never fully gotten the details of PPA candle analysis down so it's something I've been focusing on. Ken has a lot of posts on it that I've gone back and reread. I've got a lot more rereading to do but looking...

Good going indeed bud, I realise every day that I still have so much to learn. Listen, have a great thanksgiving, i've got to go and endure the turmoil of the weekly shop instead!!

Catch you tomorrow hopefully
  • #3,039
  • Nov 25, 2010 10:50am Nov 25, 2010 10:50am
Quoting dr mongolia
Sounds like an awesome idea to time analysis, details etc. Just an idea.
And I agree with you and Trotty yea, thats what i was thinking as well for sure. No point in going over the starting stuff thats well covered here and I think it would be more effective anyways if we werent that many either.

But sharing some views on what we're seeing right then and there, small stuff that appears on the chart is what I was thinking as well, if we were to do that here it would just clutter up the thread.

Where would be a suitable place in any case? Doesnt skype have a chat room function?
  • #3,040
  • Nov 25, 2010 11:00am Nov 25, 2010 11:00am
Hmm not sure, I don't think I've ever used skype before but I'd definitely be willing to do so. There's always plain old IRC, it's been around for a couple decades and stable as a rock, it would work fine for chat. I'm sure there's a lot of web-based chat equivalents as well.
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