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Ken's Continuing Successes with EO's system

  • #4,021
  • Apr 2, 2011 10:27am Apr 2, 2011 10:27am
even more charts
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Good Trading To All ; Ken Lee
  • #4,022
  • Apr 2, 2011 10:31am Apr 2, 2011 10:31am
The idea of PO is the same no matter what the time frame . You can be looking at a 15 min chart and use PO's to get the best entry.

Or you maybe need to use a 4 HR or daily. But there will of course be fewer trades and much larger stops so risk adjustment is required.

This is why we try and spot the Trading Zone areas on the 4 hr and daily charts then maybe try to zoom in on the smaller charts for the best PO.

But we all have to trade within our own time allowed. I will try and post a 4 hr or daily combined PO idea, Later.


the idea would be spot the best trading zone on daily then look to the faster charts for a better entry area with a smaller stop.


Cheers Ken
Good Trading To All ; Ken Lee
  • #4,023
  • Apr 3, 2011 2:15am Apr 3, 2011 2:15am
Hi Kenneth,

Thanks for the charts. By reading this thread and looking at your charts my trading is slowly improving.
  • #4,024
  • Apr 5, 2011 11:41am Apr 5, 2011 11:41am
Please what do you mean by PO?
  • #4,025
  • Apr 5, 2011 12:45pm Apr 5, 2011 12:45pm
Quoting ikeo
Please what do you mean by PO?
PO = Pending Order
  • #4,026
  • Apr 5, 2011 9:37pm Apr 5, 2011 9:37pm
Thanks mate, I appreciate your explanation.
  • #4,027
  • Apr 5, 2011 9:45pm Apr 5, 2011 9:45pm
Come on guys, lets keep this thread going. Is your enthusiasm wearing out or what? Don't jump from one thread to the other because that is the fast route to analysis paralysis which would ultimately ruin your trading acount.
  • #4,028
  • Apr 5, 2011 9:48pm Apr 5, 2011 9:48pm
Any questions or contributions from anyone?
  • #4,029
  • Apr 5, 2011 9:50pm Apr 5, 2011 9:50pm
Anyway, going to bed now. See you guys later.
  • #4,030
  • Apr 6, 2011 8:44am Apr 6, 2011 8:44am
Quoting ikeo
Come on guys, lets keep this thread going. Is your enthusiasm wearing out or what? Don't jump from one thread to the other because that is the fast route to analysis paralysis which would ultimately ruin your trading acount.
I think that's the last thing you'll see on this thread.. But keep in mind, when all the regulars on a thread start hitting their profitability goals consistently, the number of posts is bound to decline somewhat. That's a testament to the success of the thread, not a lack of enthusiasm.

If you ask any specific questions I'm sure you'll get a thorough response.
  • #4,031
  • Apr 6, 2011 9:39am Apr 6, 2011 9:39am
Here's a G/U trade from this morning, I like to take this setup as a 20-40 pip scalp when I see it happen. My entry was at the open of the candle with the green arrow on it, at 1.6282. It might seem a little odd to go long after those two wicks, but look where they are and consider the time of day plus the PPA. I like to see it between the 10 and 21 ema with a close between the two after we get some rejection off the bottom (or top), and I DON'T want to see the wicks touch the 50ema. The reason I didn't take the trade off the bottom is that I was weary of a continuation back southbound. In retrospect, the large retracement that we had previously combined with the size of the retrace candles and the area that price rejected off the bottom should have told me to get in long earlier from there, but oh well at least I got some off the move.
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  • #4,032
  • Apr 7, 2011 2:01am Apr 7, 2011 2:01am
Quoting dr mongolia
Here's a G/U trade from this morning, I like to take this setup as a 20-40 pip scalp when I see it happen. My entry was at the open of the candle with the green arrow on it, at 1.6282. It might seem a little odd to go long after those two wicks, but look where they are and consider the time of day plus the PPA. I like to see it between the 10 and 21 ema with a close between the two after we get some rejection off the bottom (or top), and I DON'T want to see the wicks touch the 50ema. The reason I didn't take the trade off the bottom is that I was...

Good trade doc.

Think you're absolutely right regarding the thread. It's testament to Ken and the way he has taught on this thread that we have all progressed so well as a group and as far as I can tell, all the principle protagonists on the thread are now operating as fairly consistent and profitable traders. I don't imagine many other threads can boast that.

I am short of time at the moment but will continue to try and put charts of when I think there is something slightly new to share or perhaps a setup that hasn't been seen in a while. People need to understand that this thread is more of an educational thread than a "live" trading thread so the nature of that is that the information flow will be more sporadic.

As far as I’m concerned, it's the most foolishly ignored and underrated thread on FF.
  • #4,033
  • Apr 7, 2011 1:00pm Apr 7, 2011 1:00pm
Was watching the blue line on M15 and ducked down to M1 to enter this. All the reasons to trade it are there, ask if none of it makes sense.

Netted me a swift 40 pips.
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  • #4,034
  • Apr 8, 2011 4:46am Apr 8, 2011 4:46am
Hey guys!

Here is some action that I had and am currently in on the good ol cable. I would post it earlier but suddenly my internet got all screwed up. I made it just after I took the second entry. My trades are taken on another platform, charting done on the one on the screenshot.
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  • #4,035
  • Apr 11, 2011 6:32am Apr 11, 2011 6:32am
Quoting Storeball
Hey guys!

Here is some action that I had and am currently in on the good ol cable. I would post it earlier but suddenly my internet got all screwed up. I made it just after I took the second entry. My trades are taken on another platform, charting done on the one on the screenshot.
Nice stuff Store!

I did this chart and it turned right on the blue line for a decent R/R. I have banked all profit on it now.
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  • #4,036
  • Apr 11, 2011 9:40am Apr 11, 2011 9:40am
Quoting Trotty
Nice stuff Store!

I did this chart and it turned right on the blue line for a decent R/R. I have banked all profit on it now.
Like wise! I see your getting some supply/demand stuff in there, nice

I actually had a po on the right shoulder which missed cause of spread, didnt reenter on the second run down as those levels when just missed seem to be broken alot more often.

Got a short going on gu just now with a retest of trendline and resistance, from the look of it it seems as im about to get stopped though.
  • #4,037
  • Apr 11, 2011 9:53am Apr 11, 2011 9:53am
Quoting Storeball
Like wise! I see your getting some supply/demand stuff in there, nice

I actually had a po on the right shoulder which missed cause of spread, didnt reenter on the second run down as those levels when just missed seem to be broken alot more often.

Got a short going on gu just now with a retest of trendline and resistance, from the look of it it seems as im about to get stopped though.
I was looking for a short off Friday's high, not sure if it'll get there, hope you're still in.

I actually got into the S+D stuff on your reccomendation mate and can't thank you enough. It compliments the EO/Ken approach perfectly and just helps you make much more sense of the charts. I real nice addition to the bow
  • #4,038
  • Apr 11, 2011 10:47am Apr 11, 2011 10:47am
Quoting Trotty
I was looking for a short off Friday's high, not sure if it'll get there, hope you're still in.

I actually got into the S+D stuff on your reccomendation mate and can't thank you enough. It compliments the EO/Ken approach perfectly and just helps you make much more sense of the charts. I real nice addition to the bow
Trotty, would you mind directing me to the info you are talking about?
Cap
  • #4,039
  • Apr 11, 2011 10:53am Apr 11, 2011 10:53am
Hey guys,

Great thread (read it twice now) and big thanks to Ken and everyone who has helped with it, I have a few questions though.

I’m trying to perfect (lack of a better word) the O’clock trades but something’s not clickin, what I mean is do I take them as retracements of previous candle or as breakouts of S/R or both. I know it says in the manual that they should be taken as price moves away again from the ma’s but is that near the time the candles about to close (seen price shoot away too many times) or am I just thinking to much into it. Also do the 35/50 have to be in order or is it just the 5/10/21. In hindsight it should be the easiest trade to take.

Also with breakouts would you wait for a trigger candle or would you take it off S/R, given that is just an area im inclined to wait for a trigger but again price tends to shoot away as soon as it touches (again im probably thinking to much into it).

Sorry if these questions have been answered in the past but im getting slightly confused with it all.

Once again Big Thanks to everyone.
  • #4,040
  • Apr 11, 2011 10:56am Apr 11, 2011 10:56am
Quoting Trotty
I was looking for a short off Friday's high, not sure if it'll get there, hope you're still in.

I actually got into the S+D stuff on your reccomendation mate and can't thank you enough. It compliments the EO/Ken approach perfectly and just helps you make much more sense of the charts. I real nice addition to the bow
I got taken out on the gu

Here is the trade.

-----------------------------------

Risk reward is something thats becoming a really big part of my trading. If im not seeing it likely it can give around 3:1 for my risk then no matter how good looking the setup is im passing.

As im not really looking for a scalp of 10 pips anymore I can generally plan my trades well in advance, which again frees up my time to look at a wider range of pairs, which I find works well for me.

Another key thing it does is it basically takes a lot of the pressure out of having to trade with a really high winning percentage. Im not quite sure what my personal win percentage is, but as an esstimate I wouldnt be suprised if out of 10 trades I take I might just end up with profiting on around 3-4 depending upon the setup. I still manage to make some nice pippage in a week.

I see a lot of new traders getting worked up over taking a few losses, I read an article from a hedge fund manager, he said that his best trader had a winning percentage of around 40%. Now if thats good enough for them it sure is good enough for me I'll see if i can find the article and post it here, interesting read.

I strongly belive if new traders are struggling with making consistent profit the one thing that could really change that is simply looking at what risk/reward theyre getting on trades taken.

Something thats been on my mind lately anyways.
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