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Ken's Continuing Successes with EO's system

  • #3,821
  • Feb 8, 2011 11:49pm Feb 8, 2011 11:49pm
all the secondary entries on e/u were 35/50 entries within the trading zone either 50% or 61.8% levels with PPA ,
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Good Trading To All ; Ken Lee
  • #3,822
  • Feb 9, 2011 5:49am Feb 9, 2011 5:49am
Quoting The Captain
Here is my take....

Great wisdom ... The Captain and perhaps an example if I may.
Thanks for posting your "Chart", have not seen the triangle formation :-(
  • #3,823
  • Edited 6:42am Feb 9, 2011 6:29am | Edited 6:42am
Quoting bloodpoodle
Having trouble with entrys in a profitable spot.
Any advice to finding better entrys that I can profit off of would be good.
I keep taking bad trade after bad trade. And loose a lot more then i win.
In order to improve your entry`s you must realise that ltf PA lags, its just effect of price reaction on levels. So we enter directly at ppa lines or later with pullback to our entry level. But why we should do that ?. Answer is simple because we want to reduce our risk . Sometimes I trade not because I believe that price go north/south only because I can risk so small and the level of interest is clear.

Look out for Frankf/London open, lot of fake breakouts occurs that time, let 1h candle show you the way.
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  • #3,824
  • Feb 9, 2011 10:04am Feb 9, 2011 10:04am
Quoting Kenneth Lee
all the secondary entries on e/u were 35/50 entries within the trading zone either 50% or 61.8% levels with PPA ,
Thanks for the chart Ken. I can see them much clearly now.

Took last cross and reverse myself for few pips and was planning to post here but missed my mind. But your charts are much better analyzed. I had missed so many things that you bring out there.
Making money is easy- Just dont take losing trades
  • #3,825
  • Feb 9, 2011 10:13am Feb 9, 2011 10:13am
Quoting kodziro
Look out for Frankf/London open, lot of fake breakouts occurs that time, let 1h candle show you the way.
Thanks a ton kodziro. I will watch out for them in future.


Quote
Based on those 3 candles, and the fact that it was a clear breakout yet price was having a very tough time heading North would have made me nervous and either I would have closed or put my SL to BE.
Thanks for taking time analyzing newbie charts and offering help.
Making money is easy- Just dont take losing trades
  • #3,826
  • Feb 9, 2011 12:58pm Feb 9, 2011 12:58pm
Quoting Storeball
If you come across one or even make one would you mind posting it here? Iv searched for one myself, but the ones iv come across just really messes up the charts and as far as programming one myself then I honestly wouldnt even know where to start. Thanks in advance
Will do.

Sorry for the late response, I was caught up with another project that I've been working on in my apartment and kinda spaced on putting one together.

I couldn't find a well working indicator in my brief search but I'll dedicate some time this weekend to programming one.
  • #3,827
  • Feb 9, 2011 1:07pm Feb 9, 2011 1:07pm
Quoting Kenneth Lee
It is actually 3, 20" or 19" monitors, two behind and to the side of first are oriented vertically ( up and down) but when I push PRT/SC this is how it saves all the screens in my mouse.

I normally crop the chart I want and that is how I post on thread.

A huge lcd or led monitor would be nice also. If I ever get a OFFICE . I would love big screens on a wall across the room from my desk that could show loads of data at a single glance left.
A little tidbit;

If you want to take a screen cap of a particular window just hit alt + prtscrn and then when you paste the photo in paint it'll be the already cropped photo.
  • #3,828
  • Feb 9, 2011 1:38pm Feb 9, 2011 1:38pm
Quoting ReaperKK
Will do.

Sorry for the late response, I was caught up with another project that I've been working on in my apartment and kinda spaced on putting one together.

I couldn't find a well working indicator in my brief search but I'll dedicate some time this weekend to programming one.
No problem mate Don't know if you checked the indicator i posted from hanover but it did the trick for me. You can set it so it only draws the us and asian session highs and lows in a small delicate line, which is what I was looking for at least.
  • #3,829
  • Feb 9, 2011 5:55pm Feb 9, 2011 5:55pm
Quoting Survivor
Thanks for taking time analyzing newbie charts and offering help.
My pleasure.
Cap
  • #3,830
  • Feb 9, 2011 6:18pm Feb 9, 2011 6:18pm
Hey folks, Just stopping in to say hello! I hope every one is trading well and I will try to stop in more often.
Please ask questions and share your experiences with us all!
  • #3,831
  • Feb 10, 2011 7:47am Feb 10, 2011 7:47am
Quoting bkg102665
Hey folks, Just stopping in to say hello! I hope every one is trading well and I will try to stop in more often.
Hey bk, I have a modified version of the 35/35 indicator. If you want I can attach it.
  • #3,832
  • Feb 10, 2011 9:08am Feb 10, 2011 9:08am
Hello Ken and company,
i just have a few questions regarding the method were using here:

when using the 35/50 spike through retractment trade, i have noticed that it isnt nearly as effective as Eohater mentions. I read somewhere that there was a 35 pip variance to this trade effectively stating that the price can keep going over 35 pips through the crossed over candle. are there any specific characteristics of this trade that im missing out on? i know if it goes over35 pips its a continuation, but from watching charts ive notived it doesnt always retract after the cross.

The second question is do you guys take the MA touch trades in a trending market without hesitation? i have been trading bounces of the 21 EMA lately with great success. i used to trade using the 5 EMA but it led to too many losses.

also thanks for responding to my questions earlier Ken and Dr Mongolia
Cheers
Pete
  • #3,833
  • Feb 10, 2011 10:08am Feb 10, 2011 10:08am
Quoting tweeks5
Hello Ken and company,
i just have a few questions regarding the method were using here:

when using the 35/50 spike through retractment trade, i have noticed that it isnt nearly as effective as Eohater mentions. I read somewhere that there was a 35 pip variance to this trade effectively stating that the price can keep going over 35 pips through the crossed over candle. are there any specific characteristics of this trade that im missing out on? i know if it goes over35 pips its a continuation, but from watching charts ive notived it doesnt always...

I posted a chart just yesterday showing 3 good 35/50 cross trades. The key is that trade is a retracement trade and being such the 35/50 area should fall within a good trading zone level ( fib level) best would be 50% or 61.8%

Why you also here us talk of a 50/50 trade which is the 50 ema and the 50% fib line

same with the 62 ema touch trade. 62/62 62 ema and 61.8% fib on one hr chart . That is a touch trade as a lot can happen in a hour and you can miss it completely.

The best and easiest trades in my opinion are the 5/10/21 ema touch trades the 1 and 5 O'clock trades . They if taken right after the move of the pair begins the first 1 or 5 O'clock trade can get you in with the trend almost without losing any of the gains offered.

chart to follow.
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #3,834
  • Feb 10, 2011 10:20am Feb 10, 2011 10:20am
Quoting Kenneth Lee
I posted a chart just yesterday showing 3 good 35/50 cross trades. The key is that trade is a retracement...
Thanks ken. Am sure many newbies here like me will greatly appreciate if you quote specific trade names (like 62 EMA touch. It may be obvious for others but makes it so easy for us to follow. I can quickly relate it to manual and posts here.
Making money is easy- Just dont take losing trades
  • #3,835
  • Feb 10, 2011 11:18am Feb 10, 2011 11:18am
Quoting MCFly
Hey bk, I have a modified version of the 35/35 indicator. If you want I can attach it.
Sure send it over and let me take a look. What is different and how does it seem to be working?
Please ask questions and share your experiences with us all!
  • #3,836
  • Feb 10, 2011 11:28am Feb 10, 2011 11:28am
Quoting bkg102665
Hey folks, Just stopping in to say hello! I hope every one is trading well and I will try to stop in more often.
Will appreciate your posts here or in original thread please.

Here is a cross and reverse i attempted and lost. Not much of a loss here because i trailed well but still not a winner. d1 10 EMA was also supporting my trade. i couldn't find any faults here. bad luck maybe. Next trade please.
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Making money is easy- Just dont take losing trades
  • #3,837
  • Feb 10, 2011 11:45am Feb 10, 2011 11:45am
Quoting Survivor
Will appreciate your posts here or in original thread please.

Here is a cross and reverse i attempted and lost. Not much of a loss here because i trailed well but still not a winner. d1 10 EMA was also supporting my trade. i couldn't find any faults here. bad luck maybe. Next trade please.

I don't know of any cross reverse trades on EO's using a one hr chart . I don't like how far that cross was in the fib levels. . Just my take
Good Trading To All ; Ken Lee
  • #3,838
  • Feb 10, 2011 12:10pm Feb 10, 2011 12:10pm
Quoting bkg102665
Sure send it over and let me take a look. What is different and how does it seem to be working?
The problem was that the 35 pip range was calculated from the high and not from the close of the bar which crossed the 35.
Attached File(s)
File Type: ex4 35SMALine.ex4   3 KB | 351 downloads
File Type: mq4 35SMALine.mq4   3 KB | 362 downloads
  • #3,839
  • Feb 14, 2011 2:16pm Feb 14, 2011 2:16pm
Trade I took last night after work, The 10:00 1 hr candle closed as a nice pin wick above the 61.8% fib level closed below. I went ahead and entered adjusting my risk to allow some wiggle room . I could have waited for a retest of the wicks high for a tighter entry. I was thinking to adjust my TP and stop once it moved away from the top but fell asleep and my auto TP got hit around 50 Pips. Which is OK with me.

Been spending the day with my wife valentines day and all. Eating, drinking , Basically making merry. Hope everyone is enjoying the day as well.

Ken
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Good Trading To All ; Ken Lee
  • #3,840
  • Edited 8:52am Feb 15, 2011 8:17am | Edited 8:52am
What I call a crazy chart.

I always have trouble trading charts like this. They don't seem to respect resistance areas as much as a "normal chart does".

The way I recognize a crazy chart:

1. a lot of candles have upper and lower wicks
2. tops and bottoms are Flat not rounded.
3. a lot of strong impusive moves up and down.

I seem to loose a lot on charts like this.. Mostly GU been like this a lot I've noticed. I guess the answer is not to trade when a chart looks like this.
I'm going to start changing the background on them to red to remind me not to trade it.

http://my.jetscreenshot.com/5685/20110215-5jkj-77kb.jpg

This next chart is a easier chart for me to trade A/U.. Less volatile, rounder tops and bottoms, seems to not make violent moves though resistance area's.

http://my.jetscreenshot.com/5685/20110215-avmn-86kb.jpg
The only system that will work is one designed by and for yourself.
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