Ken's Continuing Successes with EO's system | Page 215 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The System Behind the System, by Merlin Jeffries 16 replies

FX Trading Journal & Continuing Education (warrensapp) 2 replies

Continuing Direction following new Daily Low or High at Close 5 replies

Just basic question on trading successes 10 replies

Would you trade this system? New system #2. 10 replies

Attachments: Ken's Continuing Successes with EO's system
Exit Attachments

Ken's Continuing Successes with EO's system

  • #4,281
  • May 16, 2011 1:09am May 16, 2011 1:09am
Quoting iForex
Hi, Ken
I have not visited here for quite long time, I miss you guys. how are you doing?
Doing really good , have had my eyes opened lately to supply and demand , How I have let this miss my field of vision having been in the supply and sales business for so much of my life and not having put the fact that we are just buying and selling together has kinda taken me aback , but seems like a very good way to see the market.

Hope you have been on a successful path yourself. Ken

Stop by now and again .. Cheers
Good Trading To All ; Ken Lee
  • #4,282
  • May 16, 2011 2:06am May 16, 2011 2:06am
Quoting Kenneth Lee
your forgetting the cardinal rule , use the higher time frames in conjunction with your lower times

The 4 hr is in a very strong up trend
I did cancel that PO but only because news was coming out.

it was at a make and break level within the trading zone(fibs) as well on a 1 hr chart .

Price is always in flux moving up and down. it is our job to read the charts to see the most likely areas for it to turn . We can't be right 100% of the time but we should develop a edge that is much better than 50 / 50 , Then if our money management and risk...
Thanks for the explanation, Ken.

cheers.
  • #4,283
  • May 16, 2011 9:43am May 16, 2011 9:43am
po eur/usd sell 1,4255 s/l 1,4280 t/p 1,4150 16,40 gmt +2

it's a secondary supply level, but it seem good to me.
the s/l maybe is tight but its my live account

the t/p is below a demand area from the same swing high

what about this trade?

Alessandro
  • #4,284
  • May 16, 2011 11:28am May 16, 2011 11:28am
couldn't find to much to get excited about . seems to be missing most the good looking entries , Here is the only trade I have taken so I slept in
Attached Image (click to enlarge)
Click to Enlarge Name: monday 5 16.jpg Size: 366 KB
Good Trading To All ; Ken Lee
  • #4,285
  • May 16, 2011 12:09pm May 16, 2011 12:09pm
Quoting fxtrader-ale
po eur/usd sell 1,4255 s/l 1,4280 t/p 1,4150 16,40 gmt +2

it's a secondary supply level, but it seem good to me.
the s/l maybe is tight but its my live account

the t/p is below a demand area from the same swing high

what about this trade?

Alessandro

As I have thought the price push up but lesser than I expected and go down for about 50 pip, I closed the PO and I'm going to wait another opportunities, is it right?

Alessandro
  • #4,286
  • May 16, 2011 1:07pm May 16, 2011 1:07pm
Quoting fxtrader-ale
As I have thought the price push up but lesser than I expected and go down for about 50 pip, I closed the PO and I'm going to wait another opportunities, is it right?

Alessandro
your level just because it is close doesn't mean it won't workout. There is lots of talk about levels on levels , which is what that means . lower levels could be a supply level of some that don't want to miss the opportunity
the higher the original traders who's orders are still sitting there waiting.

I can 't tell you what to do but it is the learning the best that is the key.

The higher level on the A/J though not clear on the 30 min chart was the area before that demand level failed where price had started that drive down. The exit from the area was strong and stayed strong .

There weren't a lot of clear levels prior to Sundays open , Which Is why I mentioned I wasn't placing any PO's .

But I was definitely looking for shorts starting off.


Just keep working on it , I haven't got it 100% clear yet myself. Ken

Those drop base drop and rally base rally. Take a hard look to decide they are good anyway .
Good Trading To All ; Ken Lee
  • #4,287
  • May 16, 2011 6:33pm May 16, 2011 6:33pm
Quoting Kenneth Lee
your level just because it is close doesn't mean it won't workout. There is lots of talk about levels on levels , which is what that means . lower levels could be a supply level of some that don't want to miss the opportunity
the higher the original traders who's...
thanks as always, with sincere gratitude.

I understand, the way is try to learn the best, and so you do, inspiring me truly...

I keep going on this because is the only way to trade for me, looking at the underling structure of market, alias S and D, as we can see in PA.

good trading and good life

Alessandro
  • #4,288
  • May 16, 2011 11:51pm May 16, 2011 11:51pm
ken,
it seems that S/D is really a perfect way to see the market structure, by the way as you have said to me in a previous post the price tend to return at the same level BUT with a little difference....
sometimes a bit deeper sometimes a bit higher, sometimes.... a little before/inside your s/l or your limit order.

I put some PO in my demo account, with a very quick analysis.
One of them was triggered, on swissy

po buy 8815 s/l 8895 t/p 8865

as you see in the picture it is a good level and in fact it worked! the s/l was enough deeper to survive, and I took (as it was reality) 50% position +35 and I waited... for my target (sleeping) but it was lost for a few pip! It is a free trade at BE, I think good...

levels on levels is always, but we have to consider the big one, and to wait with patience? a to put our order a bit wider on S/l and a bit tigher on our t/p especially with set and forget tactics?

this is a matter of learning the best?


have a good day

Alessandro
Attached Image (click to enlarge)
Click to Enlarge Name: swissy16may2011.png Size: 111 KB
  • #4,289
  • May 17, 2011 3:07am May 17, 2011 3:07am
This is live, what about this.
Good trading and good life
Attached Image (click to enlarge)
Click to Enlarge Name: cable-17-may-2011.png Size: 190 KB
  • #4,290
  • May 17, 2011 9:40am May 17, 2011 9:40am
great level got tapped on GBP, These should have Po's so they can be got into whenever they are reached

That first level had been hit once and was a good trade yesterday as weel as the tp area was a good spot to take a long to the second area
Attached Image (click to enlarge)
Click to Enlarge Name: tuesday 1.jpg Size: 206 KB
Good Trading To All ; Ken Lee
  • #4,291
  • May 18, 2011 4:24am May 18, 2011 4:24am
chart
Attached Image (click to enlarge)
Click to Enlarge Name: wed.jpg Size: 201 KB
Good Trading To All ; Ken Lee
  • #4,292
  • May 19, 2011 12:18am May 19, 2011 12:18am
Quoting Kenneth Lee
great level got tapped on GBP, These should have Po's so they can be got into whenever they are reached

That first level had been hit once and was a good trade yesterday as weel as the tp area was a good spot to take a long to the second area
Ken,

Please advise why you omitted to draw levels from areas marked on the chart below.

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: tuesday 1a.gif Size: 319 KB
  • #4,293
  • May 19, 2011 12:23am May 19, 2011 12:23am
Quoting Kenneth Lee
chart
beautiful, Ken!

older levels are being fine-tuned with every swing, so to say!
  • #4,294
  • May 19, 2011 2:45am May 19, 2011 2:45am
Quoting Kenneth Lee
chart
thanks for the beautiful charts, is always a lesson for me,

by the way,
as I view the Cable,

on the Supply Level a good area is 6270 - 6300, as we can see on 1h and 30 min chart

on the Demand Level it seems there are 3 levels on levels, the first two quite weak (6130, 6070) and the third quite strong (6000).

what about a trading decision? The bias is bearish, maybe, is good for a limit short at 6270?

I thought that weack levels maybe good for trading a breackout? Instead of putting a limit buy order above a Demand Level is possible to put a short stop below a weak Demand Level (better after some PA in our direction breacking the area and showing us bearish strenght) and our target is the below Demand Area? In other words is the use of the mechanich of Demand becomes Supply in real time...

Or is better to find another opportuinities in other currencies ?

Cheers
Alessandro

good life and good trading
Attached Image (click to enlarge)
Click to Enlarge Name: Cable1h20110519.JPG Size: 333 KB
  • #4,295
  • May 19, 2011 4:40am May 19, 2011 4:40am
I was thinking (above post) about levels on levels as an area of possible breackout strategy... the breackout of weaker level...

in the fact is the opposite, we've got a good trade at the first Demand Level.

In this case we have got a second opportunity, to enter the trade.

What about this? Levels on levels are stronger? it seems so, a good rules to use in this case maybe is to wait a confirmation and a second entry. Maybe we loose some opportunities but we have more chance / probability?

another thought: it seems to me very respected Supply and Demand also during the news.

good life and good trading

cheers alessandro
Attached Image (click to enlarge)
Click to Enlarge Name: Cable15min20110519.JPG Size: 323 KB
  • #4,296
  • May 19, 2011 5:02am May 19, 2011 5:02am
chart. , i still like the 30 min ,
Attached Image (click to enlarge)
Click to Enlarge Name: thursaday.jpg Size: 210 KB
Good Trading To All ; Ken Lee
  • #4,297
  • May 19, 2011 5:19am May 19, 2011 5:19am
chart a
Attached Image (click to enlarge)
Click to Enlarge Name: thursday 1.JPG Size: 238 KB
Good Trading To All ; Ken Lee
  • #4,298
  • May 19, 2011 1:58pm May 19, 2011 1:58pm
e/j chart
Attached Image (click to enlarge)
Click to Enlarge Name: thursday 2.JPG Size: 238 KB
Good Trading To All ; Ken Lee
  • #4,299
  • May 19, 2011 2:59pm May 19, 2011 2:59pm
Quoting lazyboy
true! cheers ken,

btw will be looking for longs on cable circa 1.6100 shorts around 1.6370
long from 1.6100 doing ok e/u never quite made the 1.4 i was looking for.
  • #4,300
  • May 19, 2011 3:02pm May 19, 2011 3:02pm
Quoting lazyboy
long from 1.6100 doing ok e/u never quite made the 1.4 i was looking for.
Going to be watching it around 1.6249 for a short
Good Trading To All ; Ken Lee
3 traders viewing now