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Ken's Continuing Successes with EO's system

  • #4,001
  • Mar 31, 2011 3:38am Mar 31, 2011 3:38am
Anybody in the GU..??late to see that...
short off the 200 sma 1H....haven't touch that MA for a while..and DBHLC...
waiting for the next seat.....
  • #4,002
  • Mar 31, 2011 8:44am Mar 31, 2011 8:44am
I am sending two trades that I took today. I would like to hear you commnets, what should I do better or what I shouldn't do etc.

I am a bit clumsy with pictures but I hope it will serve for analysis.
Attached Image (click to enlarge)
Click to Enlarge Name: trade1.JPG Size: 81 KB
  • #4,003
  • Mar 31, 2011 9:30am Mar 31, 2011 9:30am
Quoting lunaturtle
awesome analysis as usual trotty!!
keep up the good work
Thanks man

Good trading to you!
  • #4,004
  • Mar 31, 2011 9:36am Mar 31, 2011 9:36am
Looks pretty good to me , , The wait after the engulfing was the right move ,
The second was alright as your risk was low if your stop was above the previous wick, Only thing would be if they did a stop run on it , Then make sure they don .t shake you off and leave without you. A entry after the IB would be safer but then you have to adjust your trade amount for the bigger stop.


Nice trading. I like your first TP then you have a nice little gain to pay for the next trade.

Rinse and repeat.
Good Trading To All ; Ken Lee
  • #4,005
  • Mar 31, 2011 10:02am Mar 31, 2011 10:02am
chart
Attached Image (click to enlarge)
Click to Enlarge Name: Thursday.JPG Size: 275 KB
Good Trading To All ; Ken Lee
  • #4,006
  • Mar 31, 2011 11:04am Mar 31, 2011 11:04am
Quoting steven_leo
what is your favorite pair for the trade doc....?
A/U is my favorite but I also watch E/J, G/J, G/U, U/Cad and U/Chf. I don't think any pair is better than the others it's just a personal preference thing
  • #4,007
  • Mar 31, 2011 11:31am Mar 31, 2011 11:31am
Here was my thought process on A/U earlier. Just watching prior PA and then finding a good price. Managed to get two positions on, waiting to see how they play out.
Attached Image (click to enlarge)
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  • #4,008
  • Mar 31, 2011 12:20pm Mar 31, 2011 12:20pm
Quoting steven_leo
anybody mind to share indicator which draw the HI/LO of the session guys...??
I use this one for MT4 http://www.forexfactory.com/showpost...82&postcount=2

You have to do a little tweaking to get it to plot the right time, but shouldnt be to hard to figure out. Let me know if your having troubble. As far as I know it can only plot one session high low, so if you want the asian lines and the us lines you just have to set up two separate copies of the indicator.
  • #4,009
  • Mar 31, 2011 1:38pm Mar 31, 2011 1:38pm
Quoting Kenneth Lee
chart
Interesting what you said about about trendlines Ken because the longer I trade, the less I use them.

I just find them too subjective and unreliable to help me a great deal.

A horizontal line, drawn in the right area, will be within a pip or two out between two traders. A trendline can literally be dozens of pips out depending on how they are drawn.

I know EO and Infinity used to love them but they're only ever a guide for more, I rarely buy or sell off them.
  • #4,010
  • Edited 2:41pm Mar 31, 2011 2:25pm | Edited 2:41pm
Quoting Kenneth Lee
Looks pretty good to me , , The wait after the engulfing was the right move ,
The second was alright as your risk was low if your stop was above the previous wick, Only thing would be if they did a stop run on it , Then make sure they don .t shake you off and leave without you. A entry after the IB would be safer but then you have to adjust your trade amount for the bigger stop.

Nice trading. I like your first TP then you have a nice little gain to pay for the next trade.
Thank you for your commentary - it is very valuable.
One more thing to ask. Just hypothetical. What if I went long on the spot where I closed the first short?
Reasons for doing that would be: higher low, hammer, 21ema, could make a new high
Reason against it is: "don't buy into resistance"

I could close a portion of the trade after 20pips and cover the rest. Would that be reasonable decision? What do you think?
  • #4,011
  • Mar 31, 2011 10:29pm Mar 31, 2011 10:29pm
Quoting aljosas
Thank you for your commentary - it is very valuable.
One more thing to ask. Just hypothetical. What if I went long on the spot where I closed the first short?
Reasons for doing that would be: higher low, hammer, 21ema, could make a new high
Reason against it is: "don't buy into resistance"

I could close a portion of the trade after 20pips and cover the rest. Would that be reasonable decision? What do you think?

If you can really see that type trade that is ok, But you just have to watch and know that it can be a double top. My first TP is always the top or bottom of the last swing. As if it is a over extended spot can do just as that one did. the question is if your in that long would you be more likely to miss your short.

I try to stick to a direction for a session unless it shows me differently that way I am less likely to miss the better trade. I used to trade any entry i could , but I noticed I was closing good trades to soon because i was just used to it.

But there are those that can do and do it very well. Infinty was awesome at it. He just knew where to reverse instead of just close.

Whatever you choose to do. Always keep your eye on the next trade so your ready even if you get stopped your stop could be the perfect entry going the other way.
Good Trading To All ; Ken Lee
  • #4,012
  • Mar 31, 2011 11:36pm Mar 31, 2011 11:36pm
Quoting Trotty
Interesting what you said about about trendlines Ken because the longer I trade, the less I use them.

I just find them too subjective and unreliable to help me a great deal.

A horizontal line, drawn in the right area, will be within a pip or two out between two traders. A trendline can literally be dozens of pips out depending on how they are drawn.

I know EO and Infinity used to love them but they're only ever a guide for more, I rarely buy or sell off them.
why I have never really used them , On higher time frames they tend to just be connecting good S/R areas. But as I have always said if they help others to SEE , why not . So much of trading is the same entry levels seen by many people using all different types of ideologies and systems.

That is why it is good to at least have a little understand what the different types of trading is that way you know when ALL the traders are interested, that is when it is almost a no brainer to take the trade.

Cheers Ken
Good Trading To All ; Ken Lee
  • #4,013
  • Mar 31, 2011 11:50pm Mar 31, 2011 11:50pm
couple of quick scalps I just took total of 35 pips.
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Good Trading To All ; Ken Lee
  • #4,014
  • Apr 1, 2011 8:19am Apr 1, 2011 8:19am
Quoting Kenneth Lee
But there are those that can do and do it very well. Infinty was awesome at it. He just knew where to reverse instead of just close.
His ability to keep the short, medium, and long-term in his head at the same time was truly amazing
  • #4,015
  • Apr 1, 2011 8:47am Apr 1, 2011 8:47am
If you noticed on those charts and understand my markings . (white line ) 3 /4 s/r . ( RED ) daily. You may understand those entries better and what I do . You can see I waited on the white line to form a signal. But the daily I just jumped a bit riskier but I trust the Daily line to deliver at least enough to get me out of a draw down.

It is the trust in your own analysis that is VERY VERY important. Loads of people will sit and watch threads all day but won't take the suggestions of the
posters , which is Ok but if your not learning enough to trust the system , Then move along and come up with your own using the material you have learned.

I was never good at taking calls and my trading is different than some , But the fundamentals is what I hope I am passing along , Without a good base of basic information you may never clearly see what is happening over and over again .

When I post charts you will Always see the S/R PPA line on my charts that is my heads up that I am at a major level. I have looked and know when those lines are approached if they are within a trading zone for me.

By now after reading this thread you know that . So just because I am just showing 15 min charts you must see there is always a bigger picture at play. No I am not the best trader in the world, But I can get what I want for now and know that with growth comes more patience and less NEED to win .

But of course I can and do reserve the right to change the above if I have more confluence.

Trade well Ken
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #4,016
  • Apr 1, 2011 11:06am Apr 1, 2011 11:06am
Hi Kenneth,

If I am not mistaken, sometimes you will place pending orders(during asian and london session) and let the market move while you were not around to monitor. If possible can you show me some examples of these trades? Like where will you place pending orders and what do you look for before placing pending orders?
  • #4,017
  • Apr 1, 2011 10:32pm Apr 1, 2011 10:32pm
Quoting dr mongolia
Here was my thought process on A/U earlier. Just watching prior PA and then finding a good price. Managed to get two positions on, waiting to see how they play out.
Quoting Trotty

So you were in a good spot for a scalp but trading against the momentum of the longer term traders. That's why it needed to be a scalp and not a holder and if you needed any further evidence of that, look at the size and boldness of those bearish M15 candles leading up to your entry, engulfing all those candles to the left of them. If you need to understand what cycle the market is in, the M15 candles can often give you a good early "heads up".

If any of this doesn't make sense, just let me know mate.

Good stuff. Only recently i have started to pay attention to what you two point out here. Makes sense to me.
Making money is easy- Just dont take losing trades
  • #4,018
  • Apr 2, 2011 9:29am Apr 2, 2011 9:29am
Quoting Ray_1
Hi Kenneth,

If I am not mistaken, sometimes you will place pending orders(during asian and london session) and let the market move while you were not around to monitor. If possible can you show me some examples of these trades? Like where will you place pending orders and what do you look for before placing pending orders?
This always seems to be another one of those things that folks over think. The only focus on this is if I was sitting at my computer and price got to this spot I would take the trade.

So the PO is just replacing the worse part of trading US. I can sit and watch and not take a good trade and on the other hand I can jump in to soon because I don't want to miss out. Then because I got in to soon I have some draw down when it goes to exactly where I was thinking it would.

So a PO can be anything from a person who only can look at their chart once a day. To someone that is a bit busy and wants to not miss a entry. To others that use them instead of patience They have trouble waiting for the entry.

The best use of PO's is when you have a signal and your setting your PO at the best entry of that signal. Up or Down the wick of a pin. within the body of a DBHLC or DBLHC. Remember though if your using the signal off the hrly or higher chart your stop will have to coincede with the time frame and your risk will need to fit within the plan.

I will try and find some good places that PO"s would be of a possible benefit.

Cheers Ken
Good Trading To All ; Ken Lee
  • #4,019
  • Apr 2, 2011 10:25am Apr 2, 2011 10:25am
charts
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Good Trading To All ; Ken Lee
  • #4,020
  • Apr 2, 2011 10:26am Apr 2, 2011 10:26am
more charts
Attached Image(s) (click to enlarge)
Click to Enlarge Name: PO ideas 3.jpg Size: 154 KB
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Good Trading To All ; Ken Lee
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