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Ken's Continuing Successes with EO's system

  • #3,241
  • Dec 5, 2010 3:40pm Dec 5, 2010 3:40pm
Your not going to get the hang of this overnight reguardless of how many times you read eo's orginanal thread or Ken's or any of the manuals so don't worry about reading and digesting the entirety of the threads and the manuals all at once, you will never be able to do it and actually put it to good use. I would suggest you start with one type of trade 1 like the 1 and 5 o'clock trades and get really really good at those trades and then start looking at some other types of trades like the double low/higher closes etc and then rinse and repeat until you have put the whole puzzle together.
  • #3,242
  • Dec 5, 2010 3:50pm Dec 5, 2010 3:50pm
Quoting endroute
Your not going to get the hang of this overnight reguardless of how many times you read eo's orginanal thread or Ken's or any of the manuals so don't worry about reading and digesting the entirety of the threads and the manuals all at once, you will never be able to do it and actually put it to good use....
Thanks endroute for the advise...much appreciated
  • #3,243
  • Dec 5, 2010 4:16pm Dec 5, 2010 4:16pm
Quoting Kenneth Lee
Here is the charts assoiciated with those questions .
Thanks Ken, very helpful as always. I was stuck looking at this trade in one direction and only made a very small amount of the pips that were on the table.
  • #3,244
  • Dec 5, 2010 4:48pm Dec 5, 2010 4:48pm
Quoting Survivor
I have been digging through EOHAters thread as well as this one. I find the amount of information overwhelming though i have gained confidence in few trades.

Can someone suggest exactly where a newcomer can start reading. I mean can i skip EOHaters thread entrirely? what about initial posts on this thread? Of course, i intend to visit them all back but i am asking how much info is needed just for starting. Is the system pdf on first post sufficient?
I'd say it all depends on how your individual learning style.. Think back on any of the skills that you've learned through life, especially mentally demanding skills, and try to remember what the process was like for you vs your peers.

If you're a details guy, I'd say start with one or two setups and master those setups. You can search this thread and EO's thread to find the specific pages where those setups are mentioned. If you're a big picture guy, you're probably going to have to just start reading at the beginning, get the overall gist of the information, and realize that you'll need to re-read everything later on for the specifics.

Here was my "startup learning" experience: Personally, I'm a very stubborn learner -- I have to get the big picture in my head before I can understand the details to any significant extent. I've got to be able to explain to myself how the details relate to the big picture, and the other details, or I won't be able to apply the information. So I read through the PDF's and started trading the strategy was I understood it to be. While I was trading I read Ken's thread and EO's entire thread one time through. That got me to the point where I understand the overall gist of the information. However, I've known from the start that in order to get the details down pat, I'm going to have to re-read everything, even EO's thread. Yeah, it sucks, but that's the way I learn best. So now I consider myself to be on "round #2.. learning the details".
  • #3,245
  • Dec 5, 2010 4:52pm Dec 5, 2010 4:52pm
Quoting Survivor
I have been digging through EOHAters thread as well as this one. I find the amount of information overwhelming though i have gained confidence in few trades.

Can someone suggest exactly where a newcomer can start reading. I mean can i skip EOHaters thread entrirely? what about initial posts on this thread? Of course, i intend to visit them all back but i am asking how much info is needed just for starting. Is the system pdf on first post sufficient?
Also, another thing that I forgot to add:

I started learning best from EO's thread when I gave myself a daily page limit. There is so much information in there that it's very easy to get overloaded.

Plus, of course, actual trading time should always come first.. if you only have a limited amount of time each day to devote to trading, then spend it all trading, leave the reading for the weekends. Trading time and chart analysis should always come first. That's where you turn all the "information" into "knowledge".
  • #3,246
  • Dec 5, 2010 6:40pm Dec 5, 2010 6:40pm
Anyone else fade the 00 on the e/j ? took a small 20ish off it . another spinnig top sorta. small wicks.
Good Trading To All ; Ken Lee
  • #3,247
  • Dec 5, 2010 6:50pm Dec 5, 2010 6:50pm
I have a 4 hr line at 110.766 reason for taking profit
and a up swing is still in place ,
Good Trading To All ; Ken Lee
  • #3,248
  • Dec 5, 2010 7:01pm Dec 5, 2010 7:01pm
chart
Attached Image (click to enlarge)
Click to Enlarge Name: Sunday 1c.JPG Size: 161 KB
Good Trading To All ; Ken Lee
  • #3,249
  • Dec 5, 2010 8:52pm Dec 5, 2010 8:52pm
Quoting Kenneth Lee
chart
I got in a little too early at 111.02 (played off the close price that sent us down to 109.8x).. but hey pips is pips, good way to start the week. Looks like we aren't going to make it past the 62 on the first attempt.
  • #3,250
  • Dec 5, 2010 9:59pm Dec 5, 2010 9:59pm
If A/U can get below 0.984x I think it's going to freefall.. I wanted to short it at the retest of 0.9880 but decided with the 4H MA's and daily 35 in the way it would have been a bad entry, regardless of the R:R potential. Waiting
  • #3,251
  • Dec 5, 2010 11:44pm Dec 5, 2010 11:44pm
Ken I noticed earlier that you had one of your PPA lines on EJ at 110.79. Did you get the short off it just now? If it keeps developing like this we'll get a DBHLC on the 1H which might be enough to break through the 1H 50/62 and send it back down to test 108.7X..

EDIT: Ahh nevermind, sorry, I reread and I see that you had it at 110.76 from the 4H.. I thought it was a PPA line drawn off the 15M.. I have that area marked on my 4H as well, 110.7X is a very strong area
  • #3,252
  • Dec 6, 2010 2:16am Dec 6, 2010 2:16am
Quoting Kenneth Lee
If a spinning top appears at a area of interest and I have confluence from other sources . I will use it for a entry . As a signal though it should be used with at least one more candle. As the one your talking about had a nice green candle next then the third candle pulled back into the upper wick of your spinning top then went north.

A spinning top is showing that price is at a area that the traders are not sure of yet , This is when the look up the charts really can pay off. The signals we get from the higher time frame charts always carry...
Top notch info as always mate, thanks. Getting a deep understand of the where and when with these candles all helps to make reading the charts less daunting and more of a logical process.

Good luck this week all.
  • #3,253
  • Edited 5:57am Dec 6, 2010 2:21am | Edited 5:57am
Quoting duffypratt
I've got a couple of questions about this....
Hi Duffy,

The first thing I do when I read a segment from the thread is to pull up the right day on GU on MT4. I can't make head nor tail of what they're talking about unless I can see that historic data.

I haven't gone through the cable thread and i'm not aware that he's present or been present on any other forum (but would be very interested if he is), reading the thread at the same time as trading, working, following this thread and sitting through the course posted up here last week are time-consuming enough!
  • #3,254
  • Dec 6, 2010 8:03am Dec 6, 2010 8:03am
Im riding the pound down again she bounced that 50 level nicely and now is heading for her third test of the session my guess is 5650 will hold for now and we will see rangebound behavior. I'm short now but when she gets to 5660 i'll long again.

I can do this all day
  • #3,255
  • Dec 6, 2010 8:09am Dec 6, 2010 8:09am
on the 1hour we have the 200sma as support and the 50 level which is psychological as well as an area that might be protected by banks and big boys if they are protecting any no touch options they may have (thanks Chris Lori for the amazing insight)

Also we have the 50%fib level from the upswing.

I will wait to see a break of the 50 level for a short otherwise I will long and I would have to see a break of the 5700 to be convinced of the bulls continuing there march up
  • #3,256
  • Dec 6, 2010 11:05am Dec 6, 2010 11:05am
Well, unless you caught them early london moves (I did not!), it's been a real scalpers day today.
  • #3,257
  • Dec 6, 2010 11:30am Dec 6, 2010 11:30am
grabbed a long off the bottom of e/j for 18ish. closed at the 21 ema
they are good for targets when scalping
Good Trading To All ; Ken Lee
  • #3,258
  • Dec 6, 2010 11:47am Dec 6, 2010 11:47am
Quoting Kenneth Lee
grabbed a long off the bottom of e/j for 18ish. closed at the 21 ema
they are good for targets when scalping
Did you take it off the retest of the DBLHC/tweezer combo? I took a long there for about the same
  • #3,259
  • Dec 6, 2010 11:53am Dec 6, 2010 11:53am
Quoting dr mongolia
Did you take it off the retest of the DBLHC/tweezer combo? I took a long there for about the same

Honestly I took it when it got into the wick of the last run down spining top from previous low. that way my stop can be tighter,

took 45 minutes to give the payout though, a bit nervuos trade .

the three attempts to break the low is why i took the profit quick it was s till trying to go lower . So a quick countertrend scalp for me. But scalps are within my trading goal plan

I will not take a touch trade if retests the bottom again as it will be the third attempt and I don't trust third touches must prove itself then .
Good Trading To All ; Ken Lee
  • #3,260
  • Dec 6, 2010 11:59am Dec 6, 2010 11:59am
Quoting Kenneth Lee
Honestly I took it when it got into the wick of the last run down spining top from previous low. that way my stop can be tighter,

took 45 minutes to give the payout though, a bit nervuos trade .
Ahh I see. Yeah well it was a winner nonetheless!

If the previous bottom on the 15M had a strong reversal, do you always take a long when we get back into the wick? I guess what I'm wandering is if it was a PPA-only trade or if there's more to it. I do see that its at the 50% fib level on the 4H/daily move, so support should be pretty strong.

Sorry for the repetitive questions on this one, I'm just trying to learn the details of the quick/scalp entries. They are a weakness of mine. I generally have to wait for a candlestick to enter, I am not always sharp at spotting PPA points.

EDIT: Ahh nevermind I think I either missed the second part of your previous post or it got added after I had already started typing.
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