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B.S. Trading with Kenneth Lee

  • #441
  • Oct 13, 2011 2:36am Oct 13, 2011 2:36am
Quoting xxxxLearner
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.


Attachment
let me give this a shot. Zones 1 and 4 look the best on the daily. I would say zone 3 that you are correct with your assessment and would not take it. You may get something small out of it but on daily you are looking for the big ones. Zone 2 is one I would pass on. i don't like how price just steadily went to that level, hung out for days like it was on a vacation then dropped. To me it seems all the supply is gone.. I would pass on it. Zone 1 and zone 4 imo is the safest areas. Now zone 2 and 3 can be used for take profit areas. Thats my 2 cents.
  • #442
  • Oct 13, 2011 2:43am Oct 13, 2011 2:43am
Thanks Nawlins,

Now this is zone 1 zoomed into a 1 hour.

would this be considered optimal entry zone with smaller stop and more accurate entry???



Attached Image (click to enlarge)
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  • #443
  • Oct 13, 2011 2:51am Oct 13, 2011 2:51am
Quoting xxxxLearner
Thanks Nawlins,

Now this is zone 1 zoomed into a 1 hour.

would this be considered optimal entry zone with smaller stop and more accurate entry???



Attachment
yeah i like that one you got marked. prolly move the bottom line of the zone to the last green candle bottom. Top 1 hour zone line looks good.
  • #444
  • Oct 13, 2011 2:58am Oct 13, 2011 2:58am
Quoting nawlins51
yeah i like that one you got marked. prolly move the bottom line of the zone to the last green candle bottom. Top 1 hour zone line looks good.

Thanks mate!!
  • #445
  • Oct 13, 2011 3:00am Oct 13, 2011 3:00am
Okay, AJ long off yesterday's demand, took profit because I'am heading out now. Took profit just below the tp showed on my chart (78.810).

Any questions welcome.
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  • #446
  • Oct 13, 2011 3:02am Oct 13, 2011 3:02am
Made 54pips off that trade, risk was 25 pips. If trading 2% per trade thats more than 4% right there, boom I love this.
  • #447
  • Oct 13, 2011 3:26am Oct 13, 2011 3:26am
Quoting FxEuphoria
Made 54pips off that trade, risk was 25 pips. If trading 2% per trade thats more than 4% right there, boom I love this.

Thats a great way to look at it!!
  • #448
  • Oct 13, 2011 4:14am Oct 13, 2011 4:14am
finally I'm finding my sense of trading again...
hope will continue to better level...
thank's to Kenneth Lee

http://i1117.photobucket.com/albums/...ING/Update.png
TRADING IS SIMPLE BUT NOT EAZY
  • #449
  • Oct 13, 2011 8:25am Oct 13, 2011 8:25am
Looks like a nice on green trader. The more I look at this the more clear it becomes to me too.
  • #450
  • Oct 13, 2011 12:33pm Oct 13, 2011 12:33pm
AJ got from within 1pip from triggering my po. 2nd time 2day, first was the gu now the aj. =frustration
  • #451
  • Oct 13, 2011 12:35pm Oct 13, 2011 12:35pm
Quoting FxEuphoria
AJ got from within 1pip from triggering my po. 2nd time 2day, first was the gu now the aj. =frustration
It just means that you are getting really good at this FxEuphoria. Dont fret these missed trades. Over time they wont matter. Remember to take out the PO though as the level is used up.
  • #452
  • Oct 13, 2011 1:38pm Oct 13, 2011 1:38pm
anyone get the long at 8 this am off the swap line 1.5670 gbp zoom into a 10 min chart for the actual swap line

a/j at 10:00 .. 77.65

a/u at 9:30 1,0114

all times are eastern US, Drop a line across your charts to see, The OZ was a level beneath a level very safe. I watch 30 minute charts

Plus retest of parity break.
Good Trading To All ; Ken Lee
  • #453
  • Oct 13, 2011 1:47pm Oct 13, 2011 1:47pm
e/u very similar
Good Trading To All ; Ken Lee
  • #454
  • Oct 13, 2011 2:21pm Oct 13, 2011 2:21pm
Kenneth,

Finished your thread days ago as well as the pdf & I must say you are sharing some very valuable trading information. When I began trading forex in or about 1999 if I had this information I would have NO DOUBT saved myself several $'s as well as the agony of trying every indicator in sight, but that faze of my trading career is long gone & I have come to know the value of trading price action & what you are sharing is another great tool to add to what I am currently doing. I will not clutter your thread with what I am currently doing, but I will say, it is strickly price action related & my charts contain only the S&D Levels.

I am not very tech savy, so posting charts is not something I am farmilar with, but from the charts you & others post I am trading some of the same trades & following along most days. The 30M tf is my prefered tf, but I do stay abreast of the 4H & 1H action.

You have some really great traders following along & keeping the thread clean in your absence. I admire traders such as you, you are to be commended for your willingness to start this thread & share your hard earned knowledge with those trying to survive in this business. I have only been able to survive in this business because I never gave up.

A trader friend who is not on the retail side of forex has viewed your thread & he salutes you & you info as well.

Tks Kenneth & the best of trades to you.
______________________
  • #455
  • Oct 13, 2011 3:09pm Oct 13, 2011 3:09pm
Hi KL!
Thanks for the pdf!
Now it would be great if you can go in more detail in your pdf about some terms.

I want to understand better the concept of swap level(sorry english isn't my mother tongue)
I want to understand better the number of candle and the types of wick which made a good base.

TYVM obv!
  • #456
  • Oct 13, 2011 3:31pm Oct 13, 2011 3:31pm
Quoting Forethan
Hi KL!
Thanks for the pdf!
Now it would be great if you can go in more detail in your pdf about some terms.

I want to understand better the concept of swap level(sorry english isn't my mother tongue)
I want to understand better the number of candle and the types of wick which made a good base.

TYVM obv!
HTH
Attached Image (click to enlarge)
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  • #457
  • Oct 13, 2011 4:19pm Oct 13, 2011 4:19pm
Quoting Kenneth Lee
anyone get the long at 8 this am off the swap line 1.5670 gbp zoom into a 10 min chart for the actual swap line

a/j at 10:00 .. 77.65

a/u at 9:30 1,0114

all times are eastern US, Drop a line across your charts to see, The OZ was a level beneath a level very safe. I watch 30 minute charts

Plus retest of parity break.
Ken
Do you mean a level beneath a level is safe because you have a clear target?
We are all One. Be present. Be the Observer
  • #458
  • Oct 13, 2011 10:12pm Oct 13, 2011 10:12pm
Quoting Iamfx
Ken
Do you mean a level beneath a level is safe because you have a clear target?

A level above or below another level. Is safer because some of the supply has been used up getting through the first level. So the demand can real push price up . It is also fresh in the frame of things. you can see the first level turned at 1.0134
Good Trading To All ; Ken Lee
  • #459
  • Oct 13, 2011 10:14pm Oct 13, 2011 10:14pm
Quoting Forethan
Hi KL!
Thanks for the pdf!
Now it would be great if you can go in more detail in your pdf about some terms.

I want to understand better the concept of swap level(sorry english isn't my mother tongue)
I want to understand better the number of candle and the types of wick which made a good base.

TYVM obv!
I will elaborate if you need but please go through the pdf and thread as the thread isn't that long and swap levels have been discussed a lot.

I am just tired right now will check back later.. Ken
Good Trading To All ; Ken Lee
  • #460
  • Oct 14, 2011 2:43am Oct 14, 2011 2:43am
Ken can u help me with something, I have missed about five trades this week by 4-6 pips.

My enrties are about double the spread from ths supply or demand level I have identified.

Is this just unlucky or am I locating the levels incorrectly?


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