Ken's Continuing Successes with EO's system

two views.

Here is a great alarm indicator for mt4. I didnt find the thread where it was first posted, but it was made by someone here on forexfactory. You can use your normal trendlines and horizontal lines. You go to the "description" option on your chosen line and write in "Alarm_*" * being the pip number you want the alarm to go off on. So writing 1 will make it go off 1 pip before the line is hit, you cant use anything lower. Its also case sensitive so be sure to use the capital A.

If i come across the thread i'll post it.

Edit: Found the thread. Pretty much just the same as iv written but here you go anyhow http://www.forexfactory.com/showthread.php?t=15197

Overnight A/U trade . Partial success.

same possiblity on the GBP/USD but with a bigger mover comes bigger risk . If you can't adjust to the risk wait for the first move to decide. But if you can't be present at the right or best times your trading will have to adjust some how.

The reason I choose the AUD/USD was the stop placement. As it was a lot closer so I could risk more. To trade the gbp and the larger stop I would have made maybe the same amount gain. It is all relevant. Smaller moves more per pip verses bigger move less per pip , to keep risk the same.

It is the same difference between scalpers and longer term traders. They can make the same risking the same, but with a scalping entry . WE HAVE the possiblity of awesome gains IF we can hold the Positive trades.

Trade Happy Ken

Bank Holiday in U.S. so may not be much today , or A Lot. Some days it fools us.

The above statement being said if , you have to lower your risk to keep yuir Money management in line. Then once your positive by all means find a spot to add to your position. Just don't forget to move your stop as well to protect your equity.

Hey Kenneth,

No disrepects to you. I find you to be one of the best teachers in FF. Maybe its all my mistake. Also, I must admit that i have NOT gone through everything on thread. I am still working on it but EOhaters and your thread combined are huge. Thats taking some time. Sorry about asking questions before reading everything first.

However i really CAN'T understand your trades. Why exactly you thought the Low will hold? HTF?

Another problem i find when trying to catch up with the thread is that nobody is anymore posting trades as per manual? i mean i cant figure out why someone took a particular trade! Again, not accusing anyone but i have read the manual many times. it would be great if some experienced trader please explain it in simpler terms for new comers.

Of course i am determined to catch up with the thread. But still looking for some temporary help if nobody minds.

Cheers
Survivor

EDIT: Can changed to CAN'T

None Taken .

I have never traded Eo's system exactlly the way he did. I am a scalper, but have been trying to move on. Even within the grouip off that thread of the best traders their styles and observations were very different. Infinity was a very big user of fibs where as EO really never used them in the beggining.

I just try and show peole that there are many ways to trade, it isn't so much the how but how you can adapt to it. You will see in the last posts that EO and Larry were exchanging that they had moved on also. To basiclly looking for entries on many pairs off the higher time frames and then just holding those for better gains.

This provides the most gains for those that don't want to sit at a computer all day or don't have the time . EO used P.O.'s a lot setting them many hours ahead of levels he was watching . His stops on those trades also had to be expanded a bit . As without watching we can't see the exact entry POINT , so a little wiggle room is required.

They still scalp when they WANT to but probablly don't HAVE TOO.

The entries and information on the pdf's are golden , The issue many people have is being at the right place at the right time. So we talk of different ideas and tools that CAN be used.

If anyone ever wants more information on the entries on the pdf all they have to ask , But those entries along with some of the more BASIC trading ideas that have stood the test of time. Can make even those entries easier to take,

But yes the key at times lies in the higher time frame charts. just as you surmized in my OZ trade it had tested fridays low and started back up off it on the daily. I was willing to risk that amount on the stop placement. But not last weeks low.

I have said many times don't just look for a entry. Look for a place to put your stop and adjust your risk accordinglly. The closer you can enter to your stop the less risk. Plus if you get stopped out you will be at a position to try again.

There is nothing worse than being in a bad trade unwilling to close it and seeing other good trades go by without you. So stick to your stops and move along , but just because you get stopped doesn't mean your entry ZONE is bad just the spot in the ZONE you choose might be to tight.

I myself as I stated recentlly am trying to move on to bigger trades that incorporate the entire daily cycle of a pair. The same cycle I have noticed and posted for years . But instead of focusing on the ATR ( Average daily Trading Range) I have been focusing on entries.

If A entry from Eo's syle appears the more better. Hope this clears up a few things if not just ask away.

For newer traders what I have always said is if your not great at picking trades . Keep in mind to trade AWAY from the MA's they should provide a floor or ceiling ( Support and Resistance) on whichever time frame you prefer.

The 1 and 5 O'clock trades are the easiest and most successfully pulled off. The 1 and 5 O'clock trades accure after all the stop running and BS is over . and the market settles into a direction then once it either moves away from the ma' and retraces a entry is at hand , Normally it includes some PPA and a decent fib level. the stops are tight so risk is low .

The other type of 1 and 5 O'Clock trade is the same but price bounces around may run stops and limit orders but then price comes across the MA's and price. then does a retest of that crossing.

Just a few quick ideas. Not all apply to your post but I get going and don't want to quit sometimes so ramble.

Cheers Ken

As i said, you are a great teacher. Please keep it up.

I think i am a bad student. cant really digest so much at a time I will study everything again and again and again and then ask you again if i dont undertand Hope you dont mind.

For now, just a big thank you for taking time to read my post and replying to it.

Addition: I am yet to reach last post on EOH's thread. I am confused weather to read your thread or the entire EOHster thread. I asked a question about it long time back here and i was told to read entire thing. I am not lazy But it's it's a long thread and often without charts like Kenneth. that means i have to actually go back on simulator to date of post and study it. That's taking some time. But that aint stopping me!!

survivor

Anything in trading can be overwheming it is a new set of skills most of us have never learned or used. Just try and find something that is clear in your mind and latch on to it. the little by litttle add to it.

As far as EO's thread a lot of the posting is just chatter. Try and concentrate on the areas that explain trades in detail maybe taking a few ntes. you will start to see the patterns that others saw to decide on a trade.

If it just confuses you don't struggle , something will click at some point. Focus on one or two trades at first , as your expreince grows so will your understanding.


plus there are many people her willing to try and help .

Take care Ken

I hope this helps a little, if you stick around I will try and do more.

This is a Ken style trade more than an EO trade. Fib retracement tool drawn on the swing, momentum is up and the retrace hits our 50ema, in the same area as our 50% fib level.

I won't take every one of these but the move up was strong and the retracement was weak (look at the candle sizes for a guide). The higher TF's were wtill bullish to this is a very sensible and natural place for an entry.

Stop was 13 pips and the TP was 60. A very nice, very simple trade with great R/R.

One of many Ken/EO hybrid trades.

Me and Pippin used to call those 50/50 trades, if the candle had closed below the 35/50 would have been a perfect 35/50 cross EO trade. Some times it is a product of trend strenthg or even just timing. As you will see wicks that cross but bodies don't.

This is as Trotty says kind of a hybrid but I am sure EO would have no problem taking that trade.

Thanks for the chart Trotty yes a great trade. or a perfect spot to add to a trade from lower down. If your awake then..

Sure not paying attention ... Thanks .. TROTTY

OZ short.

Might should have held for more, But if it breaks should retest.
Thinking a stop run Asian open to 31.8 then maybe back up
if not catch the retest for lower.

Hi Survivor,
If I can.Ken's PDF is gold there is what really need for begining after that just try be little bit flexibl and don't try find trades only like in the book.Try look at price where she come from,momentum location etc.Try find for your entry more confluences and have in your mind big picture.You said you try put posts from EO thread to your tester,hm I thing good way but little bit long way in my eyes and better way just posts your charts and questions.Here is great group of traders who help you and is the quickest and way to learn.
PS: go to Ken,Kodziro,dr.Mongolia,Storeball,Trotty posts with charts and look at yours.Be flexibel,you must find your own system.
Anyway I said a few times I love Ken's post about your entry is your best SL,it;s my favourite.
All the best mate and guys.
FX

One of the keys for beggining traders is to always be on the look out for that trade you can see clearly , Don't try and force trades, if all the parts aren't there skip it. the more parts the better. This is why I advocate wacthing more than just the cable and e/u . Some of the trades that are the easist to take happen on others. A/U , U/C and U/chf to name a few.

The most your doing while trading is waiting. Do a bit of homework on more than one or two. Then with the information you have gathered and sitting on your charts in the way of lines a trade is easy and quick to spot.

The question has never been is there Trades , the question is and always will be which ones do you see and believe.

Seems like a lot of trading could happen late U.S and Asia looking at those charts. Just don't get stuck in the rut like so many others just because most only trade one or two doesn't mean you do. Might find out you SEE better with a less volatile pair. diffentlly gives you time to think .

If you spread your risk around on many pairs you might see your returns do better and the ability to close the one or two that aren't working out will be easier if you got some winners running.

Could help with holding as well.

Oh yes, currently I've a clock with alarm before the ending of every hour (56 ~ 57 mins), after I alert the alarm, I would check hourly chart to see the almost done candle, see rather obvious bullish / bearish formation (e.g. nice pin at swing high / low) then decide whether a good entry point, a good reminder for me, especially the ending of Berlin and London, you may notice some retracement moves. May be the big guys closed the order by this moment, then we might catch a few.

http://www.nakedalarmclock.com/
That is a web alarm clock with quick set 15, 30,45,and 1 hr buttons. can run in background