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Attachments: Ken's Continuing Successes with EO's system
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Ken's Continuing Successes with EO's system

  • #3,141
  • Nov 30, 2010 10:37am Nov 30, 2010 10:37am
Anyone try the 62 ema 1 hr touch trade at the 61.8% fib levle ?? On the GBP/USD

I had asked EO one time how close to the 62 EMA would he take this trade and he said as far as 10 pips away. I think being a nice retracement level helps. it is above the 61.8% a bit but everything is a area.

That fib is off the weeklly high and low I have that zone marked on my hrly chart for refrence
Good Trading To All ; Ken Lee
  • #3,142
  • Nov 30, 2010 10:43am Nov 30, 2010 10:43am
Quoting Kenneth Lee
Anyone try the 62 ema 1 hr touch trade at the 61.8% fib levle ?? On the GBP/USD

I had asked EO one time how close to the 62 EMA would he take this trade and he said as far as 10 pips away. I think being a nice retracement level helps. it is above the 61.8% a bit but everything is a area.

That fib is off the weeklly high and low I have that zone marked on my hrly chart for refrence
Interesting what EO said there.

I was watching this because of the 62 but also because of the round number right at the same area. I have to say, I do look for the touch on these trades so am a bit gutted to see the push south happen just 5 or 6 pips away from where I was going to enter.

I feel robbed....again!
  • #3,143
  • Nov 30, 2010 11:52am Nov 30, 2010 11:52am
Quoting Trotty
Interesting what EO said there.

I was watching this because of the 62 but also because of the round number right at the same area. I have to say, I do look for the touch on these trades so am a bit gutted to see the push south happen just 5 or 6 pips away from where I was going to enter.

I feel robbed....again!

But remember what are we looking for a place to put our stops. Above that 00 would have been nice so a entry right on the 62 would be ok.

Also this looks almost like stop running prior to London fix. Plus the two pins maybe the Asian drift trade entry ,, I will have to see after work I guess..

Trade safe . Ken
Good Trading To All ; Ken Lee
  • #3,144
  • Nov 30, 2010 12:04pm Nov 30, 2010 12:04pm
Quoting Trotty
It was a bit like that. Personally, i like the way Infinity seems to trade. Always taking bits of profit here and there, covering well and not trouble with stopping himself out early.
Yeah me too.. He has mastered a skill that I really want to learn: Knowing when to scalp, vs knowing when to go for bigger gains. Sometimes he'll close out fully after 10-20 pips, sometimes he'll talk half at 20, sometimes he takes half at 50, sometimes he doesn't touch the trade until it gets to 100.
  • #3,145
  • Nov 30, 2010 9:19pm Nov 30, 2010 9:19pm
Hi ,

Could anybody please tell me whats asian drift that you are mentioning here,, or any pls point out to me any relevant posts on that..thnx
  • #3,146
  • Nov 30, 2010 10:25pm Nov 30, 2010 10:25pm
Quoting fx_magic
Hi ,

Could anybody please tell me whats asian drift that you are mentioning here,, or any pls point out to me any relevant posts on that..thnx

Just a trade from a high or low that is made between London fix into the early afternoon hrs . then just slowlly drifts in the same direction til asia session .
Good Trading To All ; Ken Lee
  • #3,147
  • Nov 30, 2010 10:26pm Nov 30, 2010 10:26pm
Quoting fx_magic
Hi ,

Could anybody please tell me whats asian drift that you are mentioning here,, or any pls point out to me any relevant posts on that..thnx
A lot of times price slowly drifts from the US close to the Asian open. Frequently it starts drifting as early as a few hours before the US close.

Try this link:

http://www.google.com/search?q=site:...w&start=0&sa=N

It should bring you to google with a search for: site:forexfactory.com "asian drift"

Ken has a bunch of posts and charts in this thread on it, and that google search should show them.
  • #3,148
  • Nov 30, 2010 10:28pm Nov 30, 2010 10:28pm
Waited hours for a trade this Asian session.. Just got in short off G/U retest of US highs, and A/U on a 50/50 trade

EDIT: correction, A/U was actually 50/62 -- the 15M 50 and the 62% fib level
  • #3,149
  • Nov 30, 2010 10:33pm Nov 30, 2010 10:33pm
Quoting dr mongolia
Waited hours for a trade this Asian session.. Just got in short off G/U retest of US highs, and A/U on a 50/50 trade

EDIT: correction, A/U was actually 50/62 -- the 15M 50 and the 62% fib level

Just got home and saw that as well . Now drop and let me cover .. So I can go to bed ..
Good Trading To All ; Ken Lee
  • #3,150
  • Nov 30, 2010 10:40pm Nov 30, 2010 10:40pm
LOL, same thing I'm thinking.. I don't trust trailing stops, but I'm getting tired
  • #3,151
  • Dec 1, 2010 12:10am Dec 1, 2010 12:10am
Thanks Ken and Dr . Understood now
  • #3,152
  • Dec 1, 2010 12:33am Dec 1, 2010 12:33am
I know I will regret taking these few pips , but with that line right below and being tired , Might just take the 7 and call it a night
Good Trading To All ; Ken Lee
  • #3,153
  • Dec 1, 2010 6:26am Dec 1, 2010 6:26am
Hi all,
I want to show two G/U trades I recently took. The first was a touch of PPA @5645. My target was 5600-5590. The 1 hr showed a shooting star and I was sure my traget will be hit. Then there was a 15m flat close when my target was reached at the 15 min 35/50 and 1hr 60 ema. That was a sign for me to reverse. I'm long atm took some pips and covered. I think that are nice examples for the EO/Ken methodology. Maybe somebody else took the same trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 1hr.jpg Size: 74 KB
  • #3,154
  • Dec 1, 2010 6:59am Dec 1, 2010 6:59am
Quoting MCFly
Hi all,
I want to show two G/U trades I recently took. The first was a touch of PPA @5645. My target was 5600-5590. The 1 hr showed a shooting star and I was sure my traget will be hit. Then there was a 15m flat close when my target was reached at the 15 min 35/50 and 1hr 60 ema. That was a sign for me to reverse. I'm long atm took some pips and covered. I think that are nice examples for the EO/Ken methodology. Maybe somebody else took the same trades.
Nice going!

I didnt get that short but what a nice bounce from monday high. Am in a similar au short from yesterdays high.

Got in on that long of 50ema, trotty did as well for 2 pip better price i belive
  • #3,155
  • Dec 1, 2010 6:59am Dec 1, 2010 6:59am
What do you guys think of this EU trade? The only thing I really don't like is the time of day. It is a 62ema touch off the 1 hour.

Sorry I am still not sure hopw to attach charts here without using tinypic or something.

**edit** I guess I figured out the chart thingy
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu 62ema touch.jpg Size: 67 KB
Click to Enlarge Name: eu 62ema touch 2.gif Size: 18 KB
  • #3,156
  • Dec 1, 2010 7:04am Dec 1, 2010 7:04am
Quote
Hi all,
I want to show two G/U trades I recently took. The first was a touch of PPA @5645. My target was 5600-5590. The 1 hr showed a shooting star and I was sure my traget will be hit. Then there was a 15m flat close when my target was reached at the 15 min 35/50 and 1hr 60 ema. That was a sign for me to reverse. I'm long atm took some pips and covered. I think that are nice examples for the EO/Ken methodology. Maybe somebody else took the same trades.

Right now I still have some short on her and I'm fighting against this bullish pin on the daily that printed yesterday.
  • #3,157
  • Dec 1, 2010 7:25am Dec 1, 2010 7:25am
Oanda still offers 5p spreads on GU before the announcement of US NF rate......... still keeping the same now....
  • #3,158
  • Dec 1, 2010 7:41am Dec 1, 2010 7:41am
Quoting Buildcity
Oanda still offers 5p spreads on GU before the announcement of US NF rate......... still keeping the same now....
That's why Oanda is a so called bucket-shop

Looks like G/U is ranging between 5620 and 5593. Somebody has more balls than me and take gump trades?
  • #3,159
  • Dec 1, 2010 7:43am Dec 1, 2010 7:43am
Quoting MCFly
That's why Oanda is a so called bucket-shop

Looks like G/U is ranging between 5620 and 5593. Somebody has more balls than me and take gump trades?
Yes, just went for a quick one "ping pong" trade with +10p between the 30p zone

well, after Oanda released 5 down to 2.2 on GU
  • #3,160
  • Dec 1, 2010 7:48am Dec 1, 2010 7:48am
Quoting Buildcity
Yes, just went for a quick one "ping pong" trade with +10p between the 30p zone

well, after Oanda released 5 down to 2.2 on GU
good job

I pay a little higher spread but on the other hand I know that my broker is really fair. No spread widing, no stop hunting...
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