B.S. Trading with Kenneth Lee | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: B.S. Trading with Kenneth Lee
Exit Attachments

B.S. Trading with Kenneth Lee

  • #121
  • Oct 3, 2011 4:05pm Oct 3, 2011 4:05pm
Kenneth, tks for the suggestions. I will give them a try. Keep the post coming.
  • #122
  • Oct 3, 2011 5:08pm Oct 3, 2011 5:08pm
hi Ken

i've recently begun "testing" your supply/demand style of trading, it's a refreshingly free-style form in comparison to what i usually do

any way, i'd like to put up a chart occassionally for learning purposes (mine!), if you dont mind..........let me know if i'm cramping your style

Peter


heres an A-U 15m chart i drew up,

the only trade i like (from yesterday's session) is at the blue arrow: price convincingly breaks out of consolidation and through demand, returns to test and finds supply, exit at next demand level (yellow)........not sure if this is a reliable way to trade, just testing

.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-04_0805au15.png Size: 19 KB
  • #123
  • Oct 3, 2011 7:31pm Oct 3, 2011 7:31pm
Hi Ken,

Thank you for explaining Supply and Demand and defining them so clearly.

Now for some learning.

After going from higher TF's, I stopped looking for fresh levels at M30 on the EURJPY pair.

I've marked my entry, SL and TP. Anything I'm doing incorrectly?
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 10 KB
  • #124
  • Oct 3, 2011 9:08pm Oct 3, 2011 9:08pm
Quoting the-game
Hi Ken,

Thank you for explaining Supply and Demand and defining them so clearly.

Now for some learning.

After going from higher TF's, I stopped looking for fresh levels at M30 on the EURJPY pair.

I've marked my entry, SL and TP. Anything I'm doing incorrectly?
Thats the level i got marked on my chart also.
  • #125
  • Oct 3, 2011 9:18pm Oct 3, 2011 9:18pm
KL got a question. Would you consider the last leg in the yellow circle a fresh supply zone. This is a type of area I still get confused about. This is the M5 and just practicing this TF. This is the EU also. Thanks buddy.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdq.gif Size: 18 KB
  • #126
  • Edited 9:36pm Oct 3, 2011 9:22pm | Edited 9:36pm
Quoting nawlins51
Thats the level i got marked on my chart also.
Cool, but what do I do when a fresh supply level shows up?

There's one about to form now on the same chart.

EDIT: I might want to wait for a couple more 'big' down candles before I start calling it a fresh supply level. So ignore this post for now.
Attached Image (click to enlarge)
Click to Enlarge Name: ej2.gif Size: 9 KB
  • #127
  • Oct 3, 2011 9:51pm Oct 3, 2011 9:51pm
Quoting the-game
Cool, but what do I do when a fresh supply level shows up?

There's one about to form now on the same chart.

EDIT: I might want to wait for a couple more 'big' down candles before I start calling it a fresh supply level. So ignore this post for now.
You want it 2 to 1 ratio. So if you mark that new zone for example. You have the top of the zone and bottom of the zone. Lets say that zone from top line to bottom line is 10 pips. Well you want to put your mouse on the bottom line of the zone and measure down 20 pips to the latest low that may form. so as of now you have to wait for the next low to form to see if its a good zone. If this all happens mark that mofo. It will be a drop base rally if it happens so thats the strongest zones. KL can come in and clarify better than I can if I confused you hehe.
  • #128
  • Oct 3, 2011 10:06pm Oct 3, 2011 10:06pm
Thanks, you haven't confused me... I guess what I should have included in my last post is the fact that I don't want to end up scalping on the lower TFs because of my current lifestyle.
  • #129
  • Oct 3, 2011 10:19pm Oct 3, 2011 10:19pm
Quoting nawlins51
KL got a question. Would you consider the last leg in the yellow circle a fresh supply zone. This is a type of area I still get confused about. This is the M5 and just practicing this TF. This is the EU also. Thanks buddy.
chart
Attached Image (click to enlarge)
Click to Enlarge Name: chart 1.JPG Size: 102 KB
Good Trading To All ; Ken Lee
  • #130
  • Oct 3, 2011 10:27pm Oct 3, 2011 10:27pm
Quoting Kenneth Lee
chart
sorry KL. I said M5 time frame. I took a pic and damn thing wasn't on chart. Will work on snapshots too hehe. Thanks for the explanation. The chart is the M5 though. But it does help me what you explained and showed. huh just noticed my chart shows no time frame. Just at the header but not on chart. Well if I can't figure it out I will edit the picture and put time frame.
  • #131
  • Oct 3, 2011 10:27pm Oct 3, 2011 10:27pm
Quoting the-game
Hi Ken,

Thank you for explaining Supply and Demand and defining them so clearly.

Now for some learning.

After going from higher TF's, I stopped looking for fresh levels at M30 on the EURJPY pair.

I've marked my entry, SL and TP. Anything I'm doing incorrectly?

My entry would be about where yours is but my stop would be a little higher.

Sam's suggestion was a handful of pips above the highest wick in the base.

for a PO 25 pips is about normal for me. that level is only about 15 wide so 20 be fine. or as we showed last night when it starts closing on this area look at a faster chart.

That is basically how the system is explained in the webinars. Pick levels of weekly all the way down to 30 min and then look for entries on as fast as a 2 min chart. it is the same with almost all successful systems enter as a scalper and hold like a swing trader. With this we can see the larger levels and play them that way. the trust factor will come, just mark the entries and tp's on your charts and watch it payout again and again
after awhile you will want to get all those pips.

Ken
Good Trading To All ; Ken Lee
  • #132
  • Oct 3, 2011 10:27pm Oct 3, 2011 10:27pm
Quoting nawlins51
sorry KL. I said M5 time frame. I took a pic and damn thing wasn't on chart. Will work on snapshots too hehe. Thanks for the explanation. The chart is the M5 though. But it does help me what you explained and showed. huh just noticed my chart shows no time frame. Just at the header but not on chart. Well if I can't figure it out I will edit the picture and put time frame.

yes you did sorry, so going to a faster chart for a better entry isn't option , I would wait for the turn a confirmation to limit risk if your a risk taker just take it
been really strong downtrend lately so the supply levels are doing well.
Good Trading To All ; Ken Lee
  • #133
  • Edited 10:56pm Oct 3, 2011 10:41pm | Edited 10:56pm
Quoting Kenneth Lee
My entry would be about where yours is but my stop would be a little higher.

Sam's suggestion was a handful of pips above the highest wick in the base.

for a PO 25 pips is about normal for me. that level is only about 15 wide so 20 be fine. or as we showed last night when it starts closing on this area look at a faster chart.

That is basically how the system is explained in the webinars. Pick levels of weekly all the way down to 30 min and then look for entries on as fast as a 2 min chart. it is the same with almost all successful systems...
Thanks Ken. I've moved my stop to 20 pips wide now.

But as for the fresher S/D levels that keep showing themselves, what do I do about them once I already have my levels set?

EDIT: I'm asking because my lifestyle limits me to a couple of hours screen time, so I want to stay away from the scalper mode if at all possible.

EDIT 2: Ken, the image attached is what I was referring to as a fresh Supply level, but I may be wrong, if so please give me your take on the level circled:
Attached Image (click to enlarge)
Click to Enlarge Name: ej3.gif Size: 10 KB
  • #134
  • Oct 3, 2011 10:57pm Oct 3, 2011 10:57pm
Quoting Kenneth Lee
yes you did sorry, so going to a faster chart for a better entry isn't option , I would wait for the turn a confirmation to limit risk if your a risk taker just take it
been really strong downtrend lately so the supply levels are doing well.
Thanks buddy for the advice. I would likely just take it then. Like you said the downtrend has been strong so I have that backing me.
  • #135
  • Oct 3, 2011 10:59pm Oct 3, 2011 10:59pm
Quoting the-game
Thanks Ken. I've moved my stop to 20 pips wide now.

But as for the fresher S/D levels that keep showing themselves, what do I do about them once I already have my levels set?

EDIT: I'm asking because my lifestyle limits me to a couple of hours screen time, so I want to stay away from the scalper mode if at all possible.
The thing is that the charts are a living breathing thing , they swell and contract based of global news. The levels you pick that price keeps moving away from are then becoming better levels. if the new ones also meet all the requirements they are also AA+ levels this is a rule based system . It is a easy matter to spot the levels then grade them with the enhancers which will become second nature very fast.

So just mark them all see which ones develop into the better ones and also see which ones you mark playout the way you thought.t is the only way to learn to spot them. just don't forsake your old levels as they will be better the longer and further prices moves away from them . First two rules.
Good Trading To All ; Ken Lee
  • #136
  • Oct 3, 2011 11:03pm Oct 3, 2011 11:03pm
Quoting the-game
Thanks Ken. I've moved my stop to 20 pips wide now.

But as for the fresher S/D levels that keep showing themselves, what do I do about them once I already have my levels set?

EDIT: I'm asking because my lifestyle limits me to a couple of hours screen time, so I want to stay away from the scalper mode if at all possible.

EDIT 2: Ken, the image attached is what I was referring to as a fresh Supply level, but I may be wrong, if so please give me your take on the level circled:

I don't see that as a level as yet . no decisive move down and not yet 2:1
more like consolidation during slow times. I would wait for a test of your other level or a break and retest down here.
Good Trading To All ; Ken Lee
  • #137
  • Oct 3, 2011 11:04pm Oct 3, 2011 11:04pm
Thanks Ken so much for your advice on this, it helps confirm my thoughts.

Thanks for your post above, now I can see why it was not a level yet.
  • #138
  • Oct 3, 2011 11:16pm Oct 3, 2011 11:16pm
Quoting PeterE
hi Ken

i've recently begun "testing" your supply/demand style of trading, it's a refreshingly free-style form in comparison to what i usually do

any way, i'd like to put up a chart occassionally for learning purposes (mine!), if you dont mind..........let me know if i'm cramping your style

Peter


[i]heres an A-U 15m chart i drew up,

the only trade i like (from yesterday's session) is at the blue arrow: price convincingly breaks out of consolidation and through demand, returns to test and finds supply, exit...
Yes nice breakout trade . I did post a chart showing the higher entry from a good supply levels as well. A breakout or swap line is normally a safe trade though they do fail as all entries do. I like the later retest and a more defined supply levelbase formed. at the very least a decent spinning top so you can see the demand fail and the supply take over. have a line a.95710 but the level is pretty darn wide. so will zoom in when it comes near not a decent enough drop to set a PO , for me anyway

.9629 looks better for a PO .

Please fell free to post away a sharing of ideas is a ll we have to work with.
Good Trading To All ; Ken Lee
  • #139
  • Oct 3, 2011 11:30pm Oct 3, 2011 11:30pm
Hi Ken

Your thread has exploded with activity....Not surprising seeing the quality you have put into it right from the get-go.

A while back there was a post concerning Fibonacci...I thought I would illustrate how I incorporate it into the "zone".

When I see fib retracement or extension that also lines up with a zone it adds weight to the validity of the zone for me. Kind of an odds enhancer. I posted one from earlier today. I will pull a fib on any swing over 60 pips.

Anyway some food for thought..as I run into them I will post some more.
Attached Image (click to enlarge)
Click to Enlarge Name: 10.3 eu.jpg Size: 94 KB
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #140
  • Oct 3, 2011 11:43pm Oct 3, 2011 11:43pm
Quoting Rufus
Hi Ken

Your thread has exploded with activity....Not surprising seeing the quality you have put into it right from the get-go.

A while back there was a post concerning Fibonacci...I thought I would illustrate how I incorporate it into the "zone".

When I see fib retracement or extension that also lines up with a zone it adds weight to the validity of the zone for me. Kind of an odds enhancer. I posted one from earlier today. I will pull a fib on any swing over 60 pips.

Anyway some food for thought..as I run into them I will post some more....

I don't use them per se' but after years of watching charts you know where the major levels are lying.


Your input is always welcome.. Cheers Ken
Good Trading To All ; Ken Lee
4 traders viewing now