B.S. Trading with Kenneth Lee

"good close" above that horizontal and i'll be happy to buy

anyone else?

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hi friends!
thank you kenneth for ur explanation to my yesterday posts.

do u guys have any comments on my euro chart?
and i got a Q:
do we want to see wicks in our supply or demand levels(in the base)?do they make the level stronger since they do indicate of a rejection ?

thx for any input!

I don't think that matters that much , I do like to see them at swap levels , which are the drop-base-drop , or rise-base-rise. Just helps me to see them and also shows the activity during the change from one type level to the other. I see lots of spinning tops at those levels.

The more important sign for me is that movement out of the consolidation that makes the base. That is how we can kinda gauge the volume of potential orders, The faster and further the more were sitting there and the more likely there is some left to play off.

But if you see a few long wicks on the top of candles in a base can't help but let you know maybe right above your base there could be more orders making your entry safer.


Hope this makes sense Ken

ok kenneth!got you.
thanks again mate.much appreciated.

have a great day!

My Oz trade

Anyone get this gbp trade?

i wish i could say i did but i was sleeping.
very nice trade!

yeah i missed it too. Looking for something right now myself. On smaller time frames.

Ken, i take it you elected to go short?

what do you mean "I will not let it take out that stop"?

i must confess, i missed my AU long, have to sleep sometimes


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Here are my charts with my zones marked for the day. ALL H1 time frames. Any opinions.

The level had a very long wick , made the stop a big larger than I normally like. Normally I would have just grabbed that scalp that time of day.

Great eyes spotting that long.

all marked look good , but think there are a few more , might do the same on your 30 min and save separately and see how you do .

Ok will look for sure. Good to know that I am progressing. Thanks again buddy.

when I first started looking into S/D type trading I had a old Oanda demo which I set up ,I added sub accounts with different time frames for each sub account , then just marked the levels with trendllines to practice spotting levels , This is how I came to settle on the 30 min. charts.

Setting Po's can be a pain on that many so I just mark them , Then on my real
charts set PO's there is a bounds issue with oanda, So basically placing Po's at the next level is the best option for me using Oanda.

The 30 Min chart levels sometime hits only the next level are may go through a level or so before hitting the one level which can make your week. Using larger time frames is fine just be aware that large times means bigger stops and less trades. But also can provide bigger trades.

reminds me I had 3 levels marked on e/j once it blew through all three and turned at a fourth level which i didn't mark and retraced back through all the other levels and much further. So if it looks good place a po and trust your choices. A lot of traders become uneasy and will stand aside at the wrong time missing the best entries .

Such good advice KL. I do get hesitant when my levels get blown through and it does play with you. Your asking yourself if I am doing this correctly. And when I have my hard earned money on the line its why I sometimes hesitate. This is the hardest issue I am having. I am really trying to trust not only my trading but myself. Its the most difficult task in this business to me. But I feel like I am getting better. Still a ways to go.

Anyway here is my chart with a pending buy limit at the area seen. Its the EU M30 with zones from H1 also. I went back to the 30 and marked some areas within zones to narrow down wide SL's. Also found this area on the M30 where the buy limit is at. I like it and set the order. We are making higher highs and higer lows. Should this small trend stay on course then this trade will hold. If not oh well small risk. Around 11 pips SL.

KL here is the question I have. I am posting the EU H1 and EU M30. The area highlighted in the blue looking color is my concern. This area confuses me. I am not sure if I should mark these areas and if I do they will be so close to each other creating a huge SL. They all meet the 2 to 1 ratio with ease so technically they are areas we can be interested in. Basically how do you handle this when they look like this. Thanks buddy,.

chart

Hi Ken

Really enjoyed your PDF many thanks for that.

I am very interested in this supply and demand form of trading as it makes perfect sense in any market that it is the supply and demand that moves the price.

Would you mind telling me what hit rate you are experiencing with this method so I can manage my expectations accordingly and also what is the average risk reward you are achieving with this method?

Many thanks in advance and please keep up the good work it is really helpful.

All the best Clive.

Ah ok. I see now. Also see why the other is not a good base and thanks for showing me that. What I did was seen it on the M30. Then when I switched back to H1 its not an area at all. So thanks so much for clearing that up.