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Ken's Continuing Successes with EO's system

  • #4,121
  • Apr 24, 2011 12:20am Apr 24, 2011 12:20am
Quoting Kenneth Lee

Plus it could lead to develop a mechanical system of PO (pending orders) type trading that will free up time from going blind watching a computer screen.

Because a PO trade is nothing more than seeing a spot we would jump on if we were at the computer at the time price interacted with the level. So if we can learn to grade our levels with a decent accuracy should be a piece of cake.

Anyway that is the near future on this thread . Ken
Hi Kenneth,

I like your idea of placing PO and and free up time from staring at our computer screen for hours. Currently, I am experimenting this idea of trading with small lots size. I hope that I can get good at picking areas and eventually I only need to spend at most 15 mins to analyze charts and place my pending orders.
  • #4,122
  • Apr 24, 2011 10:17am Apr 24, 2011 10:17am
Here is one EU chart and the area which I am looking at:

1.4500, this area acted as resistance for price before, it can act as support for price again. In addition, the trend for EU is bullish now. But next week got Fed rate which may impact the market.
Attached Image
  • #4,123
  • Apr 24, 2011 1:08pm Apr 24, 2011 1:08pm
Quoting Ray_1
Here is one EU chart and the area which I am looking at:

1.4500, this area acted as resistance for price before, it can act as support for price again. In addition, the trend for EU is bullish now. But next week got Fed rate which may impact the market.

be careful going long against that big wick to the left.
Good Trading To All ; Ken Lee
  • #4,124
  • Apr 24, 2011 9:40pm Apr 24, 2011 9:40pm
Is this a proper 35/50 trade? Got stopped out on the first candle that broke through the 35/50 (green/orange MA), but the reentry seems to have worked out. It broke out to a lower low so I was pretty scared to go long. Is this right?

Thanks for everything you do!
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 17 KB
  • #4,125
  • Apr 24, 2011 10:40pm Apr 24, 2011 10:40pm
Quoting jasonc1213
Is this a proper 35/50 trade? Got stopped out on the first candle that broke through the 35/50 (green/orange MA), but the reentry seems to have worked out. It broke out to a lower low so I was pretty scared to go long. Is this right?

Thanks for everything you do!

if you can mark your entry point

a 35/50 is a retracement trade so is normally around 50% of the previous swing
this looks t be retesting a bottom so to far down the previous swing
Good Trading To All ; Ken Lee
  • #4,126
  • Apr 24, 2011 11:05pm Apr 24, 2011 11:05pm
Thanks, Ken. My entry is the buy line at the bottom on the wick... nice place for a BE trade, but it wasn't a legitimate 35/50. I have a lot to learn.

Are you trading the markets today despite the bank holiday?
  • #4,127
  • Apr 25, 2011 12:39am Apr 25, 2011 12:39am
Quoting jasonc1213
Thanks, Ken. My entry is the buy line at the bottom on the wick... nice place for a BE trade, but it wasn't a legitimate 35/50. I have a lot to learn.

Are you trading the markets today despite the bank holiday?

will look in at U.S. session
Good Trading To All ; Ken Lee
  • #4,128
  • Apr 25, 2011 2:04am Apr 25, 2011 2:04am
Quoting Kenneth Lee
any questions before we move along .
Thanks Kenn for the wonderful job you are doing. I am sure everybody appreciate your effort and your worth. People still mention your name and appreciate your effot in EO's System up till today.

I was just wondering if you could open a new thread for this topic Supply and Demand as it is a complex topic on it own. I don't want new babies to start lossing focus of the original context.

Yes I really love the new concept of S/D in related with our original system but the way it is going now new babies may easily loss the focus.

Thanks.
THE DIFFERENCE BETWEEN GOOD AND EXCELLENT IS ATTENTION TO DETAILS.
  • #4,129
  • Apr 25, 2011 3:07am Apr 25, 2011 3:07am
Quoting ejiexe
Thanks Kenn for the wonderful job you are doing. I am sure everybody appreciate your effort and your worth. People still mention your name and appreciate your effot in EO's System up till today.

I was just wondering if you could open a new thread for this topic Supply and Demand as it is a complex topic on it own. I don't want new babies to start lossing focus of the original context.

Yes I really love the new concept of S/D in related with our original system but the way it is going now new babies may easily loss the focus.

Thanks....
Hi,
you can find at least 3 threads about s&d levels in the "trading discussion" section.
  • #4,130
  • Apr 25, 2011 4:17am Apr 25, 2011 4:17am
Quoting ejiexe
Thanks Kenn for the wonderful job you are doing. I am sure everybody appreciate your effort and your worth. People still mention your name and appreciate your effot in EO's System up till today.

I was just wondering if you could open a new thread for this topic Supply and Demand as it is a complex topic on it own. I don't want new babies to start lossing focus of the original context.

Yes I really love the new concept of S/D in related with our original system but the way it is going now new babies may easily loss the focus.

Thanks....
You might think supply/demand is a different topic on its own, seperate from what EO and Ken are teaching, but in reality its not. Its just a more specific way to read PPA and support/resistance which is why it blends so well with whats taught. How many times havent you heard talk about that ppa is always in play? Supply/demand explains how to profit from that in a more concrete way as well as getting a deeper understanding of support and resistance. Whether it's called supply/demand or not then that concept was very well put to use in the way they're trading. Its all about reading price action.

My 2 cents anyhow.
  • #4,131
  • Apr 25, 2011 10:04am Apr 25, 2011 10:04am
Thanks for the supply demand refresher... Making me think about my entry areas more... Been making some good pips!
here is my chart..

http://my.jetscreenshot.com/5685/20110425-eww1-89kb.jpg
The only system that will work is one designed by and for yourself.
  • #4,132
  • Apr 25, 2011 10:30am Apr 25, 2011 10:30am
My main focus for anything I have ever posted has been to help others learn to SEE what is happening, It doesn't matter what we each use just the end results,

I myself have issue at SEEING where my trades are going, so I bail to soon, Have and still make decent gains but at times it is very disheartening to see a trade go for miles after I have taken my small gain .

If you have read much of the EO thread , you will see quickly that there are many points that required a lot of choices on our own , not that there aren't personal choices to be made , For sure trading is a lone mans game. But the focus is to limit the amount of choices to as few as possible and the majority of the trading system be FACT based off what the Price action is , The least WE have to input the better the system.

I have been a buyer and seller (wholesale) in a lot of the jobs I have had and why this has not solidified in my brain till now is a wonder.

I drew some S/D lines on my charts using a 30 Min time frame ( it was clearest) Sunday. If I had placed PO's (pending Order) on the ones I plotted I would have made over 300 Pips on this dead day of trading.

Simple rules and execution. I am saving all this info to a separate file and will produce another PDF probably.

As far as starting another Thread , This thread is still on target to help you see what is happening on your charts. I am not EO. His thread is still active .

If you read his any though you will soon see that at times it was a game to the better traders to see who got the spot on entries without any signals. At times getting entries that price never showed on my charts. That isn't part of his strategy either. So by divine intervention or skill they were seeing perfect levels such as this S/D anyway.

But most of the thread followers weren't comfortable taking those trades, Maybe this part will be cleared up.

Trade well Ken
Good Trading To All ; Ken Lee
  • #4,133
  • Apr 25, 2011 11:07am Apr 25, 2011 11:07am
Here is the reason I am liking this idea.
Attached Image (click to enlarge)
Click to Enlarge Name: APRIL 24.jpg Size: 160 KB
Good Trading To All ; Ken Lee
  • #4,134
  • Apr 25, 2011 11:09am Apr 25, 2011 11:09am
sorry about charts they were full size on my end
maybe save them and open with paint where they were created.
Good Trading To All ; Ken Lee
  • #4,135
  • Apr 25, 2011 11:10am Apr 25, 2011 11:10am
I had others but entries weren't hit Like the GBP
Good Trading To All ; Ken Lee
  • #4,136
  • Apr 25, 2011 6:18pm Apr 25, 2011 6:18pm
Anybody know how to tell when ECB members are schedualed to speak... you usually get a weird news spike when they open their mouth. has had a negitive affect on my trades in the past. Usually they don't list it on FF calander and I tryed the ECB website.

I beat the ECB speaker today by 1 minute out of pure luck
The only system that will work is one designed by and for yourself.
  • #4,137
  • Apr 25, 2011 9:44pm Apr 25, 2011 9:44pm
Quoting bloodpoodle
Anybody know how to tell when ECB members are schedualed to speak... you usually get a weird news spike when they open their mouth. has had a negitive affect on my trades in the past. Usually they don't list it on FF calander and I tryed the ECB website.

I beat the ECB speaker today by 1 minute out of pure luck
bloodpoodle,

this entry popped up on a google search for, __ ECB members speak diary __:

http://www.reuters.com/article/2011/...60955920110412

the page lists events upto June 9.

some others in the search results may be useful as well.

cheers.
  • #4,138
  • Apr 26, 2011 6:02am Apr 26, 2011 6:02am
very exciting days here.

if you extend the lines on those charts you will see the areas that were marked came into play , also my gbp demand area finally got hit and went back almost 100, I haven't set any PO's but it looks like the way for me to go forward

if I had set po's only positive trades would have been triggered so far.

I will try and repost the charts later but they are the same levels.
Good Trading To All ; Ken Lee
  • #4,139
  • Apr 26, 2011 6:22am Apr 26, 2011 6:22am
here are some of the chart , the excitement builds. LOL
Attached Image (click to enlarge)
Click to Enlarge Name: april 26 gbp.jpg Size: 193 KB
Good Trading To All ; Ken Lee
  • #4,140
  • Apr 26, 2011 6:22am Apr 26, 2011 6:22am
chart 2
Attached Image (click to enlarge)
Click to Enlarge Name: april 26 aud usd.jpg Size: 223 KB
Good Trading To All ; Ken Lee
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