B.S. Trading with Kenneth Lee | Page 24 | 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

  • #461
  • Oct 14, 2011 2:46am Oct 14, 2011 2:46am
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_1410_missed.GIF Size: 88 KB
  • #462
  • Oct 14, 2011 3:09am Oct 14, 2011 3:09am
Hope I am not talking to my self...lol

But just want to ask if this area in the purple circle on the EU daily, is a swap level???

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_1410_swap.GIF Size: 144 KB
  • #463
  • Oct 14, 2011 3:11am Oct 14, 2011 3:11am
Quoting arjuncora
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.

Hey, yeah usually my po's are very accurate, this week has been slow and now two missed in a day. It's part of business, been there got the t-shirt. Next week will probably be a killer
  • #464
  • Oct 14, 2011 3:41am Oct 14, 2011 3:41am
This week has been a hit & miss week for me as well, but I will just get back at it next week. I did get in on one nice long move in the EUR/$ on Wednessday, so all is not lost. Trading any method requires patience & trading S&D is no exception. Out for the week.

________________
  • #465
  • Oct 14, 2011 4:38am Oct 14, 2011 4:38am
Quoting Winston Reed
Looks like a nice on green trader. The more I look at this the more clear it becomes to me too.
thank's

I just realize that we must go with the trend.
I saw my journal and made some review, and trying to answer "why did price always hit my SL?". and then I saw the overall my "short" trade was going to hit my SL. but why?
then I found the answer after saw the higher timeframe, bigger picture of the price direction and movement.
I simply put the trendline to my chart and OMG, I've made a big mistake, all my short trade was countering the trend. Imagine that in an period of uptrend I still choosing become a seller than a buyer.
heard very simple and stupid eh?
but if we know what is the trend of a market, It will very helpfull.
and I can say, before you mark your S n D zone, the first thing you have to do is, identify the trend.
TRADING IS SIMPLE BUT NOT EAZY
  • #466
  • Oct 14, 2011 6:07am Oct 14, 2011 6:07am
I understand going with the trend but look at these 2 charts of the OZ. We have uptrend on H1. H4 is at a supply zone in my opinion and it has rejected at this area.Now it may be short term rejection and continue North but would going long on H1 into a supply zone on H4 be smart. This is one of those where if you take a trade on H1 short you are going against the trend. And if you try and go long on H1 your buying into a supply zone. So how do we handle this situation?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusde.jpg Size: 183 KB
Click to Enlarge Name: audusde1.jpg Size: 182 KB
  • #467
  • Oct 14, 2011 6:56am Oct 14, 2011 6:56am
Learner,

Your charts look good.....things happen. I have the same problem at times. S&D levels look spot on from my experience.....I am still learning, but have got the basic idea anyway.

_____________________
  • #468
  • Oct 14, 2011 7:28am Oct 14, 2011 7:28am
Hi green_trader
Maybe is better say we should use different strategies for managing our trades.Your counter trend trade can be easily turning point and start a new trend or your trade with trend can be turning point you never know you can not push market in your way you only can following market that's all.

Only my thoughts.

Happy trading to everyone.

FX


Quoting green_trader
thank's

I just realize that we must go with the trend.
I saw my journal and made some review, and trying to answer "why did price always hit my SL?". and then I saw the overall my "short" trade was going to hit my SL. but why?
then I found the answer after saw the higher timeframe, bigger picture of the price direction and movement.
I simply put the trendline to my chart and OMG, I've made a big mistake, all my short trade was countering the trend. Imagine that in an period of uptrend I still choosing become a seller than a buyer.
heard...
  • #469
  • Oct 14, 2011 7:30am Oct 14, 2011 7:30am
Quoting nawlins51
I understand going with the trend but look at these 2 charts of the OZ. We have uptrend on H1. H4 is at a supply zone in my opinion and it has rejected at this area.Now it may be short term rejection and continue North but would going long on H1 into a supply zone on H4 be smart. This is one of those where if you take a trade on H1 short you are going against the trend. And if you try and go long on H1 your buying into a supply zone. So how do we handle this situation?

You can see we had a almost 150 pip rejection from this level it didn't hit but was close enough to be seen as coming off that level. Like any level on any time frame the orders come in a bit sooner than the actual level. So the higher the time frame the bigger the gap from it.

Personally when I spot a level off a 4 hr or daily I always look for a entry off my 30 min chart and we can see a few shorts. but the upward trend is still very strong. So a range within this level until it breaks maybe the play. just keep your eye on the levels borders that way you know when it breaks.
Good Trading To All ; Ken Lee
  • #470
  • Oct 14, 2011 7:51am Oct 14, 2011 7:51am
Plus looking at the 4hr on oz, What if your lower entry line is at the top of the body of the large red candle , maybe that was a level as well some seeing that price really didn't fall away till that point. if so the first rejection was spot on . 1.0207
Attached Image (click to enlarge)
Click to Enlarge Name: chart 45.JPG Size: 206 KB
Good Trading To All ; Ken Lee
  • #471
  • Oct 14, 2011 8:19am Oct 14, 2011 8:19am
Something I thought I would see right away and have yet to see pop up, Is a number grading your picked levels. The Odds Enhancers the check sheet and even drawings at the end of the pdf is made to help your to see if your levels are good great or to be passed.

Just a Thought. Ken
Good Trading To All ; Ken Lee
  • #472
  • Oct 14, 2011 1:18pm Oct 14, 2011 1:18pm
Quoting Kenneth Lee
You can see we had a almost 150 pip rejection from this level it didn't hit but was close enough to be seen as coming off that level. Like any level on any time frame the orders come in a bit sooner than the actual level. So the higher the time frame the bigger the gap from it.

Personally when I spot a level off a 4 hr or daily I always look for a entry off my 30 min chart and we can see a few shorts. but the upward trend is still very strong. So a range within this level until it breaks maybe the play. just keep your eye on the levels borders...
Good advice and appreciate the response. It confused me some and its the reason it ranged for so long in this pair and a few others. Some were at supply levels but in strong up trends on smaller time frames. This is something I will work on and needs more practice. I do know you see trend change on smaller timeframes before the larger timeframes. but larger timeframes respect levels a lot more than smaller. So its like a catch 22 to me when I see it.

Also will work on posting up my odds enhancers work page and have my levels rated with a number. See if I am doing it wrong and we can critique it. Thanks Ken and enjoy the weekend.
  • #473
  • Oct 14, 2011 1:32pm Oct 14, 2011 1:32pm
Quoting nawlins51
Good advice and appreciate the response. It confused me some and its the reason it ranged for so long in this pair and a few others. Some were at supply levels but in strong up trends on smaller time frames. This is something I will work on and needs more practice. I do know you see trend change on smaller timeframes before the larger timeframes. but larger timeframes respect levels a lot more than smaller. So its like a catch 22 to me when I see it.

Also will work on posting up my odds enhancers work page and have my levels rated with a number....

Just thought if folks were using the odds enhancers and getting a low number might start looking at going in a bit earlier on the ones with the least risk.
Good Trading To All ; Ken Lee
  • #474
  • Oct 14, 2011 1:32pm Oct 14, 2011 1:32pm
Check out these very tradeable levels usdcad. I only took the second one but I am now seeing this very clearly. I'm still a little trigger shy. Thanks Ken for your PDF and educational posts.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad30min101411.jpg Size: 135 KB
  • #475
  • Oct 14, 2011 1:44pm Oct 14, 2011 1:44pm
Quoting Winston Reed
Check out these very tradeable levels usdcad. I only took the second one but I am now seeing this very clearly. I'm still a little trigger shy. Thanks Ken for your PDF and educational posts.

Nice..
Attached Image (click to enlarge)
Click to Enlarge Name: chart 46.JPG Size: 83 KB
Good Trading To All ; Ken Lee
  • #476
  • Oct 14, 2011 1:52pm Oct 14, 2011 1:52pm
more
Attached Image (click to enlarge)
Click to Enlarge Name: chart 47.JPG Size: 118 KB
Good Trading To All ; Ken Lee
  • #477
  • Oct 14, 2011 2:04pm Oct 14, 2011 2:04pm
Here's a chart of the USDCAD:

Attached Image (click to enlarge)
Click to Enlarge Name: 6.jpg Size: 80 KB


I have two PO's for a short. Are these silly, silly trades? I think they're looking good, but I'm ready for someone to crush those trades with their knowledge.

Since Kenneth mentioned it, let me throw in some odd's enhancers.

Strength of the move 2/2
I do believe price left both supply levels strongly.

Reward/Risk 2/2
Lower supply would put me at a risk of 11 pips with a 27 pip target. Not 1:3, but I'll take it. Perhaps I should make it a 1/2.
Upper supply is risking 11 pips with a 45 pip target, 2/2.

Big Picture 1/2?
1H and 4H trends are down. Daily trend is up. So, whats the big picture trend? I have no idea which one I'm supposed to choose really.

Bigger picture S/D: Much closer to supply for the 1H, 4H and daily.

Retracements/retests 2/2
I can see no retracements for either level. The lower supply is too low to count as a test of the level above it, correct?

Time at level 1/1
Short, in both cases. Good.

Arrival into level ?/1
Unknown as of yet. Will monitor.

Tally
I'm at 8 points, possibly 9. 10 isn't out of the question either.

Thoughts anyone?
  • #478
  • Oct 14, 2011 2:33pm Oct 14, 2011 2:33pm
Quoting Kenneth Lee
more

Hi ken,

This 1 chart is absolute gold,its encapsulates everything and yet is so simple.

Thank you for everything
  • #479
  • Oct 14, 2011 3:09pm Oct 14, 2011 3:09pm
USDCAD running into 4 hour demand zone. EURUSD and AUDUSD running into 4 hour supply zone. Will be interesting see what happens.
  • #480
  • Oct 14, 2011 3:20pm Oct 14, 2011 3:20pm
Quoting Kenneth Lee
more
about no3, did you mean the way of candle back upward to supply level make a clear and good profit margin to go short in that supply?
TRADING IS SIMPLE BUT NOT EAZY
1 trader viewing now