B.S. Trading with Kenneth Lee | Page 22 | 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

  • #421
  • Oct 12, 2011 4:58pm Oct 12, 2011 4:58pm
Thats sounds very sensible. So do you do your analysis every morning and set and forget it? Do you have strict trading hours? I ask this because I am dealing with very similar issues and sometimes feel like life is ending one minute at a time when the market is not moving and i'm staring into space.

Quoting Kenneth Lee
Sorry I don't track much more than my weekly growth which hovers around 20% But I still have my personal issue to battle . Which have a bearing on the bottom line but not the success of any trading style I have used.

It is the reason I have gravitated to the style trading simple rules even a monkey can follow. Only one type of entry to look for and plan stop in no nuisance spot and clear targets. AS many trading ideas that are out there it is just amazing how many are over complicated doing basically the same thing.

One problem I fight a good...
  • #422
  • Oct 12, 2011 5:05pm Oct 12, 2011 5:05pm
Quoting Kenneth Lee
here is my reply. I think any levels taken off the daily are better traded off a faster chart. This way the risk is lower and we can better see the current price action . Even if your a swing trader looking to hold for a long time a hrly chart will give you the chance to enter during the day. A hrly may show a very fresh level at that green level.

But the key is to know when you reach it your into supply looking for shorts , not fighting the trend.

Hope I make sense Ken
Thanks for your detailed answer Kenneth. I can see that there are nuances to this that I'm not going to pick up on overnight. Not that I didnt expect that!
  • #423
  • Oct 12, 2011 5:17pm Oct 12, 2011 5:17pm
Quoting Derugash
Thanks for your detailed answer Kenneth. I can see that there are nuances to this that I'm not going to pick up on overnight. Not that I didnt expect that!

The key in the beginning is to look for the very obvious and the allusive will follow on there own .
Good Trading To All ; Ken Lee
  • #424
  • Oct 12, 2011 5:23pm Oct 12, 2011 5:23pm
Quoting Iamfx
Weak demand level on the aussie now----anybody thinking about a long?
I am not trading at the moment But I see it as a very possibility.
Good Trading To All ; Ken Lee
  • #425
  • Oct 12, 2011 5:40pm Oct 12, 2011 5:40pm
Hey Kenneth, another master of S and D

just curiosity, how do you youself determine your zone being fresh.

Ive learnt from my teachings, as long as the move away from a level is still nice and strong then the level is still pretty fresh.
  • #426
  • Oct 12, 2011 5:53pm Oct 12, 2011 5:53pm
Quoting deankenny21
Hey Kenneth, another master of S and D

just curiosity, how do you youself determine your zone being fresh.

Ive learnt from my teachings, as long as the move away from a level is still nice and strong then the level is still pretty fresh.
Yes then it is real sweet if you have a level above or below that turned price nicely as well. These levels may take time to come into play but are worth the wait.


Like the oz chart I have been trading off this week, The one level left the 4th one is now the only fresh level left but we now have some new , levels to consider after this strong mov up.
Good Trading To All ; Ken Lee
  • #427
  • Oct 12, 2011 5:54pm Oct 12, 2011 5:54pm
Quoting Kenneth Lee
Yes then it is real sweet if you have a level above or below that turned price nicely as well. These levels may take time to come into play but are worth the wait.


Like the oz chart I have been trading off this week, The one level left the 4th one is now the only fresh level left but we now have some new , levels to consider after this strong mov up.
yep the strong moved up has created some excellent low risk levels im looking at currently
  • #428
  • Oct 12, 2011 5:57pm Oct 12, 2011 5:57pm
Quoting Kenneth Lee
I am not trading at the moment But I see it as a very possibility.
I did end up going long but was unsure where to exit so settled for 15 pips at this supply
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-13_0952.png Size: 55 KB
We are all One. Be present. Be the Observer
  • #429
  • Oct 12, 2011 6:17pm Oct 12, 2011 6:17pm
Quoting Iamfx
I did end up going long but was unsure where to exit so settled for 15 pips at this supply

Both those levels are very clear on the 30 min as well could have gotten most the 40 , plus a stop move to B. E. might have been the plan strong move up could continue.

But It is hard to argue with money in the bank.
Good Trading To All ; Ken Lee
  • #430
  • Oct 12, 2011 6:19pm Oct 12, 2011 6:19pm
Quoting Kenneth Lee
Both those levels are very clear on the 30 min as well could have gotten most the 40 , plus a stop move to B. E. might have been the plan strong move up could continue.

But It is hard to argue with money in the bank.
so do you trade mainly from 30 min charts, do u look at daily or hour charts for example, for my hour trades i use 15 min to get the better looking zone and move back to 1 hour
  • #431
  • Oct 12, 2011 6:25pm Oct 12, 2011 6:25pm
GU sagging back to demand now but hasnt responded.
Where do people reckon the tp would go if this PO fired? I'm thinking around 5786
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-13_1023_gu_5_min.png Size: 59 KB
We are all One. Be present. Be the Observer
  • #432
  • Oct 12, 2011 6:30pm Oct 12, 2011 6:30pm
Quoting deankenny21
so do you trade mainly from 30 min charts, do u look at daily or hour charts for example, for my hour trades i use 15 min to get the better looking zone and move back to 1 hour

I really like the 30 minute. the levels are clear and less noise. I look at all time frames for direction though. The longer time frames for major trends and to make sure I am not fighting a level and faster charts when nothing is visible on my 30 minute. Like huge solid candles .
Good Trading To All ; Ken Lee
  • #433
  • Oct 12, 2011 6:32pm Oct 12, 2011 6:32pm
Quoting Kenneth Lee
I really like the 30 minute. the levels are clear and less noise. I look at all time frames for direction though. The longer time frames for major trends and to make sure I am not fighting a level and faster charts when nothing is visible on my 30 minute. Like huge solid candles .
ok same princibles as me

as for a zone being valid, u are marking a congested box, do you not feel sometimes if too many candles going sideways in one area then price shoots up for example would u mark this as demand, or would you say price was too comfortable trading in that area before price shot up?
  • #434
  • Oct 12, 2011 6:33pm Oct 12, 2011 6:33pm
Quoting Iamfx
GU sagging back to demand now but hasnt responded.
Where do people reckon the tp would go if this PO fired? I'm thinking around 5786

You really want a distinctive move back to your entry level that way you have a nice clean target to trade to. A move to your entry is as important as your move away from a base.
Good Trading To All ; Ken Lee
  • #435
  • Oct 12, 2011 6:41pm Oct 12, 2011 6:41pm
Quoting deankenny21
ok same princibles as me

as for a zone being valid, u are marking a congested box, do you not feel sometimes if too many candles going sideways in one area then price shoots up for example would u mark this as demand, or would you say price was too comfortable trading in that area before price shot up?

That is the hard part learning to see the difference where there really isn't any one stronger supply or demand.

That is why I have settled on a 30 min chart as my picks are pretty good off it. Plus what the candles look like counts as well real tight bodies with a bit of wick is prefered. as I see it, the orders being filled being kinda equal and then the large move out of it is when supply or demand becomes the primary mover.
Good Trading To All ; Ken Lee
  • #436
  • Oct 12, 2011 6:41pm Oct 12, 2011 6:41pm
Quoting Kenneth Lee
You really want a distinctive move back to your entry level that way you have a nice clean target to trade to. A move to your entry is as important as your move away from a base.
OK thanks Ken----good tip. I've still got a way to go with this but I am getting some good results
We are all One. Be present. Be the Observer
  • #437
  • Oct 12, 2011 6:46pm Oct 12, 2011 6:46pm
Quoting Kenneth Lee
That is the hard part learning to see the difference where there really isn't any one stronger supply or demand.

That is why I have settled on a 30 min chart as my picks are pretty good off it. Plus what the candles look like counts as well real tight bodies with a bit of wick is prefered. as I see it, the orders being filled being kinda equal and then the large move out of it is when supply or demand becomes the primary mover.
yes this was the hardest thing to overcome, you pick a level u zoom in to find solid candles maybe 4 or 5 in a row same size very minimal wicks, these zones i try to ignore
  • #438
  • Oct 12, 2011 7:40pm Oct 12, 2011 7:40pm
The more I look at this the more I like it.

What do you think about this chart Ken. I'm looking at a po at 1.0257.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad10121130minsd.jpg Size: 132 KB
  • #439
  • Oct 13, 2011 12:16am Oct 13, 2011 12:16am
Ken got a question. Would you mark the area in the yellow circle due to a gap as a possible place to go long.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 25 KB
  • #440
  • Oct 13, 2011 2:12am Oct 13, 2011 2:12am
Hi Ken can I ask you a question regarding my daily zones on EU. Please disregard the bottom of the chart just the pink zones numbered 1 to 4.

1. Have these zones been located and marked of correctly?

2. would you place a PO on any of these levels?

3. To me zone 3 looks like it has been hit three times already, and would be a weaker level to trade off, is this a correct?


Would appreciate your help.


Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_1310_SUPPLYZONES.GIF Size: 133 KB
2 traders viewing now