B.S. Trading with Kenneth Lee

night before NFP can be slow.

Plus Tokyo in lunch and China in Holiday

not sure where the lower level is best placed

.

Interesting take on the 'swap levels' . I have never noticed this before.

Also, in agreement to your point, the GU has traded way too much into that level and even at a 1 min level looks very noisy. Now thats not to say that it wont trend back up.

To me this is not a trade that i will take because of the deep wicks that go down before the level. If price has traded there, it basically means that it is not a sound level anymore.

Given that we are looking for low risk, high reward, high probability trades, first retracement trades are best suited for those.

On a different note, do you always stick to your 1:3 risk reward on all trades? Have you had a chance to estimate your success rate on this?

My success rate has been close to about 69% in the last year and a half. But those have been strictly on trades where I watch the entry to ensure there is sufficient room for movement. Unfortunately, that also entails spending a lot of screen time. I am test running a set and forget trade blog to track my record over the next few days by setting up fresh levels on set and forget trades before the US session opens (approx. 8 am EST).

First trade of the day was on crude, after making a perfect entry, because it was set and forget, the profit margin had reduced and this was not obvious as i was away from my screen. trade went in my direction for a profit of 1:1.75 before hitting new demand zone (@ 78.04) and ricocheting in the opposite direction. Images attached below:
At Trade Setup before US market open:

After Trade entry:

In case you were wondering,

the level was setup on a 5 min chart and does not show on the 30 min chart.

Peter. not sure , but most of your charts just look like Support and resistance
not supply and demand. maybe look at that part of the pdf. or maybe you prefer the way your drawing them , You seem to pick nice areas and called that breakout early.

But not sure you want us to show you supply and demands.

Just my thoughts ken

DAMN !! I thought it was thursday , Catch you guys later off to bed for me ,, Cheers

hmmm,

maybe its how i am drawing, or is it i dont follow your S/D levels, i thought i did, .........not sure now


.

Hey Peter,

Let him get some sleep first. haha

Dam, stopped out on the GU CT trade

Just woke up this morning to see some nice trades. I missed all of them but I feel very confident that I marked all the zones correctly. All of them. I also was watching and marked a swap level correctly. I attached the chart. You can see where the arrow is it bounced. Again I didn't take any but feels like a winner when you can start to trust yourself.And it didn't bounce but for around 13 pips but still the point that it works. I appreciate KL and the others who I am learning from. Thanks guys and gals(if there is any).

Lots and lots of news this morning and all with significance. Look at the GU if you want to see a 160 pip move in minutes. Everybody trade safe with stop losses tight.

gbp chart

chart

http://i1117.photobucket.com/albums/...ADING/EJ-3.png
hi there kenn, I would like some questions,actually I have some problem in identifying the valid zones. hope I can learn futher abt this s n d strategy. sorry if my question sounds very newbie. here these are.

I have 3 zone :
1. supply
2. demand
3. supply (newDBD)
I know that S.Seiden suggest us to rather choosing RBD and DBR than DBD or RBR zones.
but actually there are moments where DBD and RBR can be a good zones.
my questions
1. is that true that when a DBD area(3) continue till then it break the demand (2), that DBD will be a valid zone?
any condition? may be the zone must be fresh zone or something?
2. if my question no.1 is true why that area c (DBD supply) broken eazily).
thank's

my view

Hi Kenneth,

Marked this off EURUSD M30 chart.

Is this the valid Supply Zone?

Yes but would have liked to see it a bit closer to 1.3444

hi keeneth!!
i have attached an updated chart to the one i posted yesterday.
i was looking at the "next supply" level in order for me to think short and price did end up getting there but i wanted it to go deeper into the zone in order to lower my risk so i never pressed the triger.
price got to my zone and created 2 PB(marked in the elipse) and now it seems like its creating another pb on the other side maybe in order to go deeper into supply zone again.
my Q is:
would it be a mistake to try shorting it if indded price returns to supply level or the fact that those 2 pb were formed indicate there are more orders in supply t get filled?

i hope im being clear and making sesnse with my Q.

thank u .

Anybody else catch it. Caught it and closed half at 10 pips. Let it run for the rest at breakeven. Got stopped out since the bastard broker slippage when I entered. Didn't have a PO just was watching.

Forgot to say this is a chart of EU M30

Hi, if nawlins51 does not mind, I would like to use his chart for further discussion, in which Peter and Ken talked about this in early London today.

See chart below, there are 2 green levels highlighted, can I say the bottom one is only a "support" level then the later one is the real demand zone cos the price action after that is huge. So what we looking for, or we should put more weighting on is this real demand zone.

Dont know whether my concept is right.