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B.S. Trading with Kenneth Lee

  • #201
  • Oct 4, 2011 11:15pm Oct 4, 2011 11:15pm
sorry guys, I am really dragging tonight, so not much posting
just watching a couple of trades see if they are guying to play out.
Good Trading To All ; Ken Lee
  • #202
  • Oct 4, 2011 11:20pm Oct 4, 2011 11:20pm
Quoting Kenneth Lee
sorry guys, I am really dragging tonight, so not much posting
just watching a couple of trades see if they are guying to play out.
Thats fine buddy. We appreciate enough that you have done for us. I just posted my charts for anyone who wanted to discuss. I am Not afraid to look like the dumb-ass hehe.
  • #203
  • Oct 4, 2011 11:22pm Oct 4, 2011 11:22pm
Quoting nawlins51
Thats fine buddy. We appreciate enough that you have done for us. I just posted my charts for anyone who wanted to discuss. I am Not afraid to look like the dumb-ass hehe.

Because the levels are off different time frames on the same charts , bit hard to comment on them . But to be honest haven't studied them hard..

But on quick glance most look pretty good
just leave your lines on and check them later and see how they play out
Good Trading To All ; Ken Lee
  • #204
  • Oct 4, 2011 11:28pm Oct 4, 2011 11:28pm
Quoting Kenneth Lee
Because the levels are off different time frames on the same charts , bit hard to comment on them . But to be honest haven't studied them hard..

But on quick glance most look pretty good
just leave your lines on and check them later and see how they play out
Thanks bro. I will clear them up. On my laptop hiding at work. Trying to go short at 9572 on the Oz
  • #205
  • Oct 5, 2011 12:06am Oct 5, 2011 12:06am
maybe we'll see a buy set-up in the coming hours ???...........cant see a short with the new pivot high and low

watchlist!!

.
Attached Image
  • #206
  • Oct 5, 2011 12:26am Oct 5, 2011 12:26am
Quoting PeterE
maybe we'll see a buy set-up in the coming hours ???...........cant see a short with the new pivot high and low

watchlist!!

.
I am shorting this either at 9572 which just missed my frickin order but its cool. If it goes through that I am going short around 9625. Long wick at the 9625 tells me their is still orders there. It left fast. I may be wrong. Also i dont look at pivots any more. Those lines only hold true temporarily imo. Big boys play with S and D only. Again my opinion so not trying to offend you in any way on your method. They way it looks right now is price is hanging around this level of 9572. Not a fan of that at all so you may get your blow through. If it does think the long meets its maker at 9625.
  • #207
  • Oct 5, 2011 12:45am Oct 5, 2011 12:45am
no worries, everyone finds their own style, for me i am waiting


Quoting nawlins51
Again my opinion so not trying to offend you in any way on your method.
  • #208
  • Oct 5, 2011 12:52am Oct 5, 2011 12:52am
Quoting PeterE
no worries, everyone finds their own style, for me i am waiting
now since my order didnt get placed hope it turns north so i will get another shot at the next level. If it does blow through we get a swap level to look at also.
  • #209
  • Oct 5, 2011 1:12am Oct 5, 2011 1:12am
Hi everyone,

This a trade on GBP/USD, I missed out on, price came with in 3 pis of my limit sell order and didnt drag me in.....

What a shame!!

Would you say this level may still be valid supply???

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  • #210
  • Oct 5, 2011 1:13am Oct 5, 2011 1:13am
.9567 is where my oz entry would have been. but that is on a 30 min chart
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #211
  • Oct 5, 2011 1:15am Oct 5, 2011 1:15am
Looks like one of those days where price has no idea where it wants to go. Everything seems balanced.Deleted this zone its sitting by. No longer good imo. Price hanging around too long. May drop but not for me to take another shot at it. Will wait for another level. on my pairs. 9625 level on Oz still is a target.
  • #212
  • Oct 5, 2011 1:18am Oct 5, 2011 1:18am
Quoting xxxxLearner
Hi everyone,

This a trade on GBP/USD, I missed out on, price came with in 3 pis of my limit sell order and didnt drag me in.....

What a shame!!

Would you say this level may still be valid supply???

Attachment
Yes I would think so. good drop from it. next run to that level should be closer or even side it.
Good Trading To All ; Ken Lee
  • #213
  • Oct 5, 2011 1:19am Oct 5, 2011 1:19am
might be waiting on the gbp news in 11 minutes only reason I am still awake ,, LOL
Good Trading To All ; Ken Lee
  • #214
  • Oct 5, 2011 1:19am Oct 5, 2011 1:19am
Quoting Kenneth Lee
Yes I would think so. good drop from it. next run to that level should be closer or even side it.
Thanks Ken !!
  • #215
  • Oct 5, 2011 1:26am Oct 5, 2011 1:26am
This is a current trade--atm about +70 pips. My TP is a few pips short of that old supply level. I figure if the aussie is in a downtrend it might make a lower high and probably OK to short here as well--although will be second touch. Just learning this stuff and comments welcome
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We are all One. Be present. Be the Observer
  • #216
  • Oct 5, 2011 1:26am Oct 5, 2011 1:26am
Quoting xxxxLearner
Thanks Ken !!
Sam stated in one of his last videos. if your levels are being missed by just a few your probably good at picking them . We have to keep in mind the difference between the way we place orders being taken by brokers and the commercial guys trying to MAYBE find someone to take the other side of a massive order of millions or billions . They might jump early to try and absorb all that he can.

In Ponsi's book he talks of this and makes the case this is why double tops and double bottoms print on our charts. Commercial guys will sell at supply . which moves price down . Then they let retail traders push it back into supply and they sell again. that is how double tops form ,

as far as how much wiggle room you want to give something I can't tell you that but the better you think the level the more you may think to give it a few .
Good Trading To All ; Ken Lee
  • #217
  • Oct 5, 2011 1:36am Oct 5, 2011 1:36am
Chart right after the news
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  • #218
  • Oct 5, 2011 1:37am Oct 5, 2011 1:37am
Quoting Iamfx
This is a current trade--atm about +70 pips. My TP is a few pips short of that old supply level. I figure if the aussie is in a downtrend it might make a lower high and probably OK to short here as well--although will be second touch. Just learning this stuff and comments welcome

Yep I should have taken that long as well I had spotted that level of the daily chart. I was going to post it but it want fit on one screen. it was a swap level. Then the senate passed the budget and that helped a lot as well.

Great trade. Ken
Good Trading To All ; Ken Lee
  • #219
  • Oct 5, 2011 2:04am Oct 5, 2011 2:04am
Quoting Kenneth Lee
Sam stated in one of his last videos. if your levels are being missed by just a few your probably good at picking them . We have to keep in mind the difference between the way we place orders being taken by brokers and the commercial guys trying to MAYBE find someone to take the other side of a massive order of millions or billions . They might jump early to try and absorb all that he can.

In Ponsi's book he talks of this and makes the case this is why double tops and double bottoms print on our charts. Commercial guys will sell at supply . which...

Ken you have reignited my persuit of supply and demand levels. This is how I first started to learn to trade, stumbling across Sam Seiden at the begininng of learning to trade. Then I got side tracked.

I think its time i settle and trade supply and demand levels even if it means only 3 or 4 trades a week.

thanks again Ken.....
  • #220
  • Oct 5, 2011 2:23am Oct 5, 2011 2:23am
Hi Ken

Just read through your PDF, its very clear and concise. Thanks for taking the time to produce it.

Looking forward to introducing this system to my own trading style which is very much in line with Divergences "Flag trading the trend".

Up to now I have been struggling to find the right place to enter, very often getting stopped out by a few pips then have to painfully watch the price gleefully gallop off in my desired direction with my money!!!

The problem was one of timing my entry, but now after reading your wonderful PDF, I believe I will have far more success using supply and demand areas for entry.

Just one queerie in my head. Can I use this on 1 minute charts? Or are they more effective on higher timeframes?

Thanks again for such a great thread and I absolutely love the title!!! Very apt in this industry where BS sems to abound in obscene amounts.
Feel the Fear and do it anyway!!!
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