Ken's Continuing Successes with EO's system

oz and euro had good short levels

oz 1.0780

euro 1.4246

eur/cad 1.3635

30 min chart , place a line at those numbers to see

Gbp swap level. or Drop-Base-Drop level

gbp

e/u and e/j PO set-able levels last night.

Hi KennethLee,

I really appreciate to see your chart and your strategy. Continue your good job! Really impressive!



Mfinab,

some charts

You can see from the above two charts that if using a more conventional trading ideology waiting on that DBLHC or any other tradeable candlestick pattern the majority of the trade would be over before you even entered.

DISCLAIMER" The breakout PO is only set if and when price CLOSES well above that area it is a RE-TEST PO

entry repositioning strategy HIGH RISK mOve

There are a lot of emotion playing with this demand and supply stuff. We just have to trust it and nothing more. Though, there will be sometime when the level will broken but if we failed to hold to TP on any position taken it will be difficult to compensate the lossing trade for a broken level. There could be sometime when the level will be fresh and still break it. I think this is part of the game.

Look at the example, I long EU 1.4151 and closed @ 1.4200 (Emotion). I short @ 1.4347 and the stop was hit fast fast @ 1.4385. If I had taken the trade to hit my TP @ 1.434x, I would have been happy and have more confidence after I was stop out because I will see it as part of the game. But now it has introduced fear in me again. Now I am wating for 1.4457.

Is anything I could have done to avoid thay lossing trade?

I want comment Kenn. Thanks

It's the toughest part of trading and the one that not only separates the good traders from the bad but also the ones that are able to stick at it long term and those that will move on to something else.

I struggled so much with this at first. It's a combination of factors that make you reflect on a losing trade with such negative feelings:

The feeling of being wrong (I hated this, I want to be right 100% of the time)

The knowledge that your last winning trade has either been wiped out or partially wiped out. All that pleasure and satisfaction you had from calling it right - GONE. Sometimes it might have been 3 or 4 hours of patiently waiting and managing the trade that is then wiped out in 3 minutes of heavy action. Sometimes it just doesn't add up!

The worry that perhaps your system isn't right, your back testing was floored or that even (and I have had this feeling at times) that trading is really just impossible and the only people making money from it are them that are selling systems.

I was only ever able to progress in my trading life when I was able to start to rationalise losing trades and almost reach the point of embracing them. I know that sounds weird but there is a bit of fuzzy logic to it. A losing trade proves a few things:

Your system is fallable. Good, you knew this anyway but it's worthwhile to be reminded about it every so often because the more you start to think you will win every trade, the harder the fall will be when it breaks down and you have to endure 5 losing trades on the spin.

You used a stop loss and you took a hit. This is great, it means that you are trading well and in the right manner. If you haven't wiped out more than a percent or 2 from your equity, you are mitigating risk in the appropriate manner for a potentially successful trader.

Finally, it proves that the market is unpredictable and will move in the direction that it wants to move in (it's not conscious being of course but i'm sure you understand what I mean). It's good to be reminded that as traders, all we are able to do is "best guess". That's what we do every time we make a trade, we are guessing on where we think price will turn or react, based on knowledge and experience. That it doesn't always keeps us grounded and reminded that we are not in control, something we always must be aware of lest we be in danger of getting carried away with our so called skills.


I appreciate that none of this answers your technical questions, I will leave that up to Ken as it's Ken you asked. I just thought i'd add a bit about the other side of trading and that although we should always be checking up plan to ensure we aren't trading the wrong areas, sometimes there just isn't a way to prevent the loss. Losses are and always will be, part of the process.

Good luck

That was just not a good level, plain and simple as that (I nearly made the same mistake). What does your signature say? Details, Details. Look how price hung around that area for a while before it dropped lower. Its telling you there was no urgency to sell there and therefore, less likely to be sellers there on the way back to it. Also, what was the trend? The trend was up. When a trend is up what will make the trend stall and reverse? It is higher time frame supply most of the time. Look at the level on the 4 hour, price fell sharply but went straight back up to dip into the level removing more supply so not a sharp, clean rally-base-drop. Unless you were looking for a quick scalp off a 1 hour level the odds weren't in your favour. If you are going against the trend for scalps look for stronger levels on your trigger time frame. If you are looking for more than a scalp look for higher time frame supply as that is where trends usually turn, but on this occasion it would have not ben a valid signal in my book.

Ditch that auto level indicator. As I have told others on another thread, it is not accurate and unless that indicator can read Seiden's or your own modified set of odds enhancers (which I recommend you use), there is no reason for that indy to be on your chart. Its a lazy way to trade and you will get more out of what you are doing by following your own trading plan and setting the levels yourself. If you haven't gone over Seiden's stuff, absorbed it, understood it completely and MADE IT YOUR OWN, then you have no one else to blame but yourself. Losses are good for two things, 1. For keeping you grounded and alert that you are merely playing the odds, and 2. for realising, hey that number 1 reason could be an excuse and actually be total bull shit this time around because, perhaps I did something wrong and didn't do my home work, or really understand what I am doing. BUT now as a result of that loss, I am going to dig deep and figure it out, and discover whether it was a purely random loss or whether it was my fault.

Be careful of the probability arguments, its often used as an excuse by many traders to feel better about themselves and not put the work in. Trading is a constant process of learning and evaluating. Dig-in and use losses to your advantage.

Best regards
PP

Hope some got that long off the e/u demand level . 1.4326 ish nice quick 40 pipper

I took a small short last night from the top but wasn't sure of it so bailed early

Sorry i haven't replied had to rebuild my electric boat head and replace the discharge hose
Loads of fun ..

Only thing I can say is not to have taken it. I don't pay much attention to news but everyone has been waiting on a euro zone fix . So when a potential fix came out strong moves are in order.

we know we can't get 100% wins but as long as you follow the rules and place your orders correctly we come out ahead. Your money is a tool used to make more . but any type business has it's bad deals.

a tradesman can bid a job wrong or miss a important point and loss loads as well. So don't take it personally it is just a part of it. it was a decent level.

the only thing I could ad is that on your chart it is a clear uptrend and maybe just taking longs would give you a better result. but if this is just one loss in a series of wins no sweat.

Trade well ken

Thanks to all of you for your beutiful reply. It is really of a value. I appreciate that.

I have been reading the last few weeks of charts posted and wanted to say thank you to Ken.

I`d be happy to contribute with charts, not quite sure yet if the main method used is now this revised supply & demand.

I like the way you show how levels can readjust and display clearer on higher timeframes.

Really outstanding......!

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michael

What is happening to this thread? Is kenn not posting to this thread again or what? This is very unusual for this thread to be so silence for so long like this. There are alot of sam's article we enjoy with this new S/D concept that Ken post for us. Pls continue your good work as most people are watching it. Thank.

some charts i sent my sister on a trade this am , showing where to pick lines from a level.

Hi Ken. It has been a long time. I hope you are fine and there is no problem.

How long can you hold a trade from level to level?

some nice trades off good levels. OZ

Ken, good to see you post again, great move and spot on AUDUSD !






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michael