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B.S. Trading with Kenneth Lee

  • #101
  • Oct 3, 2011 3:43am Oct 3, 2011 3:43am
Quoting nawlins51
also ignore the volume indie on my chart. I am doing an experiment finding zones where high volume is at. Its a test just seeing if zones hold more weight with higher volume. Bollinger bands is something Rocky uses and also testing his theory with the zones. Just my curiosity.

yep Sam's all star entry uses B.B on a fast chart . pretty easy to start knowing oversold and undersold without that anyway.
Good Trading To All ; Ken Lee
  • #102
  • Oct 3, 2011 3:50am Oct 3, 2011 3:50am
chart
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Good Trading To All ; Ken Lee
  • #103
  • Oct 3, 2011 3:50am Oct 3, 2011 3:50am
Quoting Kenneth Lee
yep Sam's all star entry uses B.B on a fast chart . pretty easy to start knowing oversold and undersold without that anyway.
IMO so far just staring at my screens I am liking the 30 minute TF. Just can really see the bigger picture after marking zones on the H4 and H1. Plus I am not labeling the crap zones when I trade this way. Been adjusting my charts and its just a better way to trade than messing with anything lower. Of course I am not like you are rufus on this thread who can spot them anywhere. Maybe one day.

Yeah the BB's I may chunk soon. The middle band was right there on my entry. But the AUDjpy trade I chickened out and could of caught that long. Downtrend was the overall story and got out with like 3 pips. But after I threw on the BB's it was clearly out making that down move so a long would of made sense even if it was for 25 to 35 pips.
  • #104
  • Oct 3, 2011 3:52am Oct 3, 2011 3:52am
Quoting Kenneth Lee
chart
Thnx KL.

I see what you mean.

Regards
  • #105
  • Oct 3, 2011 3:52am Oct 3, 2011 3:52am
as you get better if your sitting at your computer , just the line that is across your chart with price will start showing you all you need
Good Trading To All ; Ken Lee
  • #106
  • Oct 3, 2011 3:54am Oct 3, 2011 3:54am
KL thats what I wanted to ask you. You and several others mention fresh zones. What is fresh and what is stale. I mean on a daily you are going to go back possible days but whats old a week or 2. This is where I get confused. Because if I mark a zone on H4 and drop down to M30 to narrow my risk it will be real old. But on the H4 its fresh. I know it may be hard to explain but have to ask. Thanks bro for the help.
  • #107
  • Oct 3, 2011 3:55am Oct 3, 2011 3:55am
Quoting msiamd
Thnx KL.

I see what you mean.

Regards
If it wasn't for that big drop from that level as many times as price has been at there. I would have not liked that level.
Good Trading To All ; Ken Lee
  • #108
  • Oct 3, 2011 3:58am Oct 3, 2011 3:58am
Quoting nawlins51
KL thats what I wanted to ask you. You and several others mention fresh zones. What is fresh and what is stale. I mean on a daily you are going to go back possible days but whats old a week or 2. This is where I get confused. Because if I mark a zone on H4 and drop down to M30 to narrow my risk it will be real old. But on the H4 its fresh. I know it may be hard to explain but have to ask. Thanks bro for the help.

That is a product of time frames. Just as I mentioned on the last post , That 80 pip drop from sundays open made that area FRESH looking to me ,

Take a look at it on a 45 minute chart and see what you think .... Ken
Good Trading To All ; Ken Lee
  • #109
  • Oct 3, 2011 4:09am Oct 3, 2011 4:09am
Quoting Kenneth Lee
That is a product of time frames. Just as I mentioned on the last post , That 80 pip drop from sundays open made that area FRESH looking to me ,

Take a look at it on a 45 minute chart and see what you think .... Ken
Ok I see what you are saying. I have POS MT4 so use H1. Dont have the 45.
  • #110
  • Oct 3, 2011 4:11am Oct 3, 2011 4:11am
45 min gbp
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Good Trading To All ; Ken Lee
  • #111
  • Oct 3, 2011 4:24am Oct 3, 2011 4:24am
gotcha bro.
  • #112
  • Oct 3, 2011 4:27am Oct 3, 2011 4:27am
Oz has a good example of something. Look at it on a 5 min
you can see all those levels that rejected a little bit. then at the level near the top it ran back down through all the other levels. so even if you had set PO's on all the others with tight stops the last one at the top which rejected price almost all the way back down to the bottom so that one trade will make up for all your tries.
Good Trading To All ; Ken Lee
  • #113
  • Oct 3, 2011 4:30am Oct 3, 2011 4:30am
then look at it on a 15 miin and you can see the fresh level where turned right below it .
Good Trading To All ; Ken Lee
  • #114
  • Oct 3, 2011 4:33am Oct 3, 2011 4:33am
Quoting Kenneth Lee
Oz has a good example of something. Look at it on a 5 min
you can see all those levels that rejected a little bit. then at the level near the top it ran back down through all the other levels. so even if you had set PO's on all the others with tight stops the last one at the top which rejected price almost all the way back down to the bottom so that one trade will make up for all your tries.
Yeah I see what you are saying. I have it marked on my chart and watched it. I wanted to take it but was like lets see if I am getting lucky or marking them right. And where I have it marked on my chart is where it bounced. But I do see what you are saying about smaller timeframes. Especially when you have zones on top of zones. The key is getting back in and not being scared.
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  • #115
  • Oct 3, 2011 4:34am Oct 3, 2011 4:34am
charts
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Good Trading To All ; Ken Lee
  • #116
  • Oct 3, 2011 4:38am Oct 3, 2011 4:38am
Quoting Kenneth Lee
Oz has a good example of something. Look at it on a 5 min
you can see all those levels that rejected a little bit. then at the level near the top it ran back down through all the other levels. so even if you had set PO's on all the others with tight stops the last one at the top which rejected price almost all the way back down to the bottom so that one trade will make up for all your tries.
Ok got twisted a little see what you are saying about the run down not run up.
  • #117
  • Oct 3, 2011 11:21am Oct 3, 2011 11:21am
Hi Kenneth,

Discovered your thread several days ago & find the contents most interesting. I have read other threads that tried to explain S&D, but none are as clear & conscise as your thread. The pdf is equally well laid out & to the point. I do have one humble request.....please post your future charts in white background as I do like to copy & the white will drain the black ink much slower. Sorry to have to ask, but it would help.

Your thread is one of about maybe six on this forum that really have value for the new trader & us older ones as well, but it just seems the threads such as these that share price action information & do not include all the shinny lights, bells & whistles never last very long & that is ashame. What you are sharing could save many traders from blowing out their account if they would take the time to study & pay less attention to EA's & standard indicators.

Thanks for your time in sharing this information & I look forward to your future post.
___________________________
  • #118
  • Oct 3, 2011 1:33pm Oct 3, 2011 1:33pm
Quoting acetrader
Hi Kenneth,

Discovered your thread several days ago & find the contents most interesting. I have read other threads that tried to explain S&D, but none are as clear & conscise as your thread. The pdf is equally well laid out & to the point. I do have one humble request.....please post your future charts in white background as I do like to copy & the white will drain the black ink much slower. Sorry to have to ask, but it would help.

Your thread is one of about maybe six on this forum that really have value for the new trader & us older ones...
Sorry, but not sure i can accommodate that , as to post as many charts as I do at times they are just screen shots of my charts then have to be taken to paint and lines drawn on them and notations. After years of trading I find staring into 3 black screens is better than staringinto the brightness of the sun if they were white.

a suggestion and what i do now ( I use to print everything pdfs charts everything have a lazer printer) But now I have a dedicated SD card a large one and all my Forex files are on it , that way if My machine melts down i have it all saved plus it is just a easy habit to start saving it there. Then if you have or when you can get a tablet or kindles type device for convience.

You can also try a color inversion then print in black and white
should turn the blacks to white .

Sorry Ken
Good Trading To All ; Ken Lee
  • #119
  • Oct 3, 2011 1:52pm Oct 3, 2011 1:52pm
There was talk this am about what is a fresh level OZ has a good example of that . I was scalping away off the different levels last night on it , But finally succumbed to sleep. But if I had taken a moment to look and see I could have a set a PO on a fresh level and had gotten the trade of the day. if you try and find it on a 5 min it isn't clear where price turned back short.

But on a 30 min it is very clear . top of a nice 5 red candle drop. the top to the bottom of the range I was scalping . .9668 is the bottom of the level with about a 20 pip width maybe a bit more , Which i find acceptable for a PO trade.
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Good Trading To All ; Ken Lee
  • #120
  • Oct 3, 2011 2:06pm Oct 3, 2011 2:06pm
Quoting Kenneth Lee
There was talk this am about what is a fresh level OZ has a good example of that . I was scalping away off the different levels last night on it , But finally succumbed to sleep. But if I had taken a moment to look and see I could have a set a PO on a fresh level and had gotten the trade of the day. if you try and find it on a 5 min it isn't clear where price turned back short.

But on a 30 min it is very clear . top of a nice 5 red candle drop. the top to the bottom of the range I was scalping . .9668 is the bottom of the level with about a...

I am starting to see the significance of swap levels and how they give you a great level. Yep Oz was there at 9 am this morning. I was out myself in my chair. haha. I do see what you mean by the fresh levels. At work tonight when I am hiding I may play around with the small time frames.
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