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B.S. Trading with Kenneth Lee

  • #481
  • Oct 14, 2011 8:33pm Oct 14, 2011 8:33pm
Quoting green_trader
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?

Hi Green

I think I can answer for Ken.

Yes when price moves in like that it will give you a clear target area that is well defined. In the CAD example it would have given you a firm 2:1. If price meanders about when approaching a zone it just chews up the S/D in the zone and makes an iffy target

I also put fibs on this one.I will use fibs as an additional odds enhancer to help determine if I want to do a pending order. In this case 61.8 was right in there.

At the risk of sounding like a baseball fanatic (which I am). When you have a solid hit on a fast ball it goes into orbit. That is the way I picture a speed candle going into a zone. I get the connection it screams away faster and farther.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #482
  • Oct 15, 2011 12:27am Oct 15, 2011 12:27am
Quoting Rufus
Hi Green

I think I can answer for Ken.

Yes when price moves in like that it will give you a clear target area that is well defined. In the CAD example it would have given you a firm 2:1. If price meanders about when approaching a zone it just chews up the S/D in the zone and makes an iffy target

I also put fibs on this one.I will use fibs as an additional odds enhancer to help determine if I want to do a pending order. In this case 61.8 was right in there.

At the risk of sounding like a baseball fanatic (which I am). When you have a solid...
okey clear...
underestood...
thank's a lot Rufus
TRADING IS SIMPLE BUT NOT EAZY
  • #483
  • Oct 15, 2011 7:08am Oct 15, 2011 7:08am
hey ken, it's so awesome how you publicise indepth content of seiden's work. saves me and the general public countless thousands of dollars from spending at ota. also will contribute to more fuzzy price action approaching and departing levels and eventually bring a new dose of randomness into markets.
  • #484
  • Oct 15, 2011 7:41am Oct 15, 2011 7:41am
Not to directly respond to the post above , As I can't be bothered with such nonsense. All the information I have posted , Is Free information available from OTA ( Online Trading Academy ) in their archives . I have never bought or paid for any Forex training system.

I have been trading for a good many years and this style fits me and what I have seen a lot of on my journey. May not be for all.

If you have a counterpoint or maybe a sensible reason for why this doesn't work , That is welcome as these threads are a learning tool and without two sides it isn't really learning.

But just off the cuff remarks will not be tolerated and I would advise anyone else to just ignore such comments. As the poster will eventually find a trap door in the thread and fall through if they continue.

Cheers everyone and have a great weekend. Ken
Good Trading To All ; Ken Lee
  • #485
  • Oct 15, 2011 8:23am Oct 15, 2011 8:23am
I think if each person just took their cross hairs on their platform and spent a bit of time just running through the charts. lining up turns with the levels that caused the turns and also the targets and how those also come into play in these strong trending days. it might help them in picking levels.

Also remember you don't really need to pick a lot of levels on your chart. Really if you have a good trend then just one or two is plenty then spend your timing checking those two for the best.

Also look at different pairs maybe some without correlating currencies to your basic traded pairs. The key is to look for the best overall setup. I have seen a bunch where you would think because the way the market is moving , That a setup would fail and act like the other pairs but it doesn't. Just a thought.
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Good Trading To All ; Ken Lee
  • #486
  • Oct 15, 2011 9:08am Oct 15, 2011 9:08am
This is the GBPUSD M30 chart. I have wrote my notes in the pic. Anybody feel free to critique. This is how we grow as a group and become successful. On all my levels I have scored a total of 7. We can not determine the risk reward odds enhancer as of yet so this will determine how I play the zones. The 7 is because of the possible trend. Again my concerns is taking these demand levels with a possible trend reversal and that reason being is we would make a lower low on the M30.

I may be too picky and have missed some levels but we all must take what we learn and make it our own trading style. Like one guy told me off this forum is too not copycat. Make it your own. I am training myself to be picky which teaches me patience. I want low risk high reward setups.

In summary, I love the GU zones I selected. I just hate the fact where a lower low will be made. What will determine my trading will be risk reward. I need 2 to 1 R:R. Also will look for new levels being formed to hop in trend should it stay north. Will be checking the bigger picture. 5952 is an area where we may meet supply on the H4. Not a strong supply level but positive an area where resistance will be met going north.

EDIT: Forgot the damn arrow in my picture. Arrow points to the biggest circle I have on my chart.
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  • #487
  • Oct 15, 2011 9:28am Oct 15, 2011 9:28am
This is my EURUSD chart on M30 time frame. Love demand 1. I may be wrong but I like it. All my levels are scored at a 7 or 8 on Odds Enhancers but still waiting to apply the risk reward enhancer. Demand 1 is where I will go long. I just have too. We are sitting in a supply zone on H4. If we break it its got a way to go and could be the home run we are looking for. Nothing says we can NOT counter trend trade but it makes it riskier. Reason I will take this trade are as follows: I like round numbers in my zones, The supply level on H4 is the 3rd test and its not being rejected like the previous 2. My zone is 18 pips wide. So its a small zone and worth the risk. It also stays with the smaller timeframe uptrend.

IMO, lots of good things to go North make me like demand level 1. We live and learn. The EU is one of my favorite charts with zones. Again anyone can critique me.
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  • #488
  • Oct 15, 2011 9:35am Oct 15, 2011 9:35am
Quoting nawlins51
This is my EURUSD chart on M30 time frame. Love demand 1. I may be wrong but I like it. All my levels are scored at a 7 or 8 on Odds Enhancers but still waiting to apply the risk reward enhancer. Demand 1 is where I will go long. I just have too. We are sitting in a supply zone on H4. If we break it its got a way to go and could be the home run we are looking for. Nothing says we can NOT counter trend trade but it makes it riskier. Reason I will take this trade are as follows: I like round numbers in my zones, The supply level on H4 is the 3rd test...
Hi nawlins

Demand level two I would be concerened about. Looking at a 5m chart, I see an area that may have been a "swap" that demand area 2 was a test of.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #489
  • Oct 15, 2011 9:47am Oct 15, 2011 9:47am
Quoting Rufus
Hi nawlins

Demand level two I would be concerened about. Looking at a 5m chart, I see an area that may have been a "swap" that demand area 2 was a test of.
Yep Rufus you are correct. Since you pointed it out I can see it on M30 also. Shit. haha. Thanks buddy for showing me that. Well lets hope it goes to demand 1 and never returns. Will say demand 2 is a round number right on the swap level also. Will label it as watch and see how price reacts but definitely no PO will be set here and most likely no trade. At that point we are likely faced with a reversal breaking low at 3722. Again Rufus thanks. I missed on level on EU I just found. Between Demand 3 and Demand 4.
  • #490
  • Oct 15, 2011 9:50am Oct 15, 2011 9:50am
Here is EURJPY M30. Don't like this chart at all. Anyone see something good that I don't.
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  • #491
  • Oct 15, 2011 10:09am Oct 15, 2011 10:09am
Here is the AUDUSD M30. Like the levels I have marked and you can see why i didn't mark the other with circles and lines. All touches.
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  • #492
  • Oct 15, 2011 10:27am Oct 15, 2011 10:27am
Here is the AUDJPY M30. Not liking the Yen pairs as of now. We had clear entries before but now just blah to my eyes anyway. Anyone want to shed some light please let me know.
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  • #493
  • Oct 15, 2011 10:29am Oct 15, 2011 10:29am
In summary of my charts I like the Eu the best then AU. The rest as of now I am not high on. Need more clarity for the others to jump in the trend.
  • #494
  • Oct 15, 2011 10:31am Oct 15, 2011 10:31am
I like your analysis Nawlins. I am also concerned about 4 hour supply and demand zones looming on some pairs. Especially USDCAD which I have been loving lately. Very nicely defined supply zones getting tiggered pretty much to the pip. Very little heat taking this one down. Demand zone on this pair coming up.

I guess if a strong level gets broken and becomes a swap level then we need to think about trend reversal or at least correction.
  • #495
  • Oct 15, 2011 10:34am Oct 15, 2011 10:34am
You can tell who the FOREX fanatics are when they are spending significant time on the weekend analyzing charts and kicking the ball around with fellow FOREX blokes. I love it!
  • #496
  • Oct 15, 2011 10:41am Oct 15, 2011 10:41am
Quoting Winston Reed
I like your analysis Nawlins. I am also concerned about 4 hour supply and demand zones looming on some pairs. Especially USDCAD which I have been loving lately. Very nicely defined supply zones getting tiggered pretty much to the pip. Very little heat taking this one down. Demand zone on this pair coming up.

I guess if a strong level gets broken and becomes a swap level then we need to think about trend reversal or at least correction.
Appreciate the comments. I have not looked at the Cad at all. Will take a look at it though since you are having some success.

I agree with you about the 4 hour supply and demand zones sitting close by. Think this week will be a good learning experience for us with S and D due to these areas on the bigger picture.

Also agree about strong levels being broken we will need to think reversal. And we may very well see them due to the bigger picture zones right infront of where we want to go. Will be interesting week.
  • #497
  • Oct 15, 2011 10:44am Oct 15, 2011 10:44am
Quoting Kenneth Lee
Not to directly respond to the post above , As I can't be bothered with such nonsense. All the information I have posted , Is Free information available from OTA ( Online Trading Academy ) in their archives . I have never bought or paid for any Forex training system.

I have been trading for a good many years and this style fits me and what I have seen a lot of on my journey. May not be for all.

If you have a counterpoint or maybe a sensible reason for why this doesn't work , That is welcome as these threads are a learning tool and without...

Hi Ken and all

Thanks for all the work you have put into this Ken....

I would also like to tell traders here that I have taken the OTA Forex class. It is top notch. You will learn supply and demand. But there is a lot more to the class then S/D. There is a lot packed into a week of sessions, too much for a post here.

We all should know that S/D is only part of the picture. Trading psychology is a big portion of the rest. No one can teach you this. I would say that the best this thread or OTA class can do is give us keys or tips on how to be in control of our emotions. That speed candle approaching a S/D area where you have a pending order can be daunting. Sometimes I will just look at a different pair. But the point is to be comfortable with the risk. Then you can look at a chart with objectivity.

One of my personal goals is to be a top notch mentor for people wanting to learn to trade. I want to understand the mental pitfalls that frequent many traders and how to help them overcome them.

By the way....When I say control of emotions....It is my thought that it is almost impossible to have no emotions when trading. My objective is to not have emotions that cloud my judgment of PA.

Off to work....Building some cabinets for a custom kitchen.



Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #498
  • Oct 15, 2011 10:45am Oct 15, 2011 10:45am
Quoting Winston Reed
You can tell who the FOREX fanatics are when they are spending significant time on the weekend analyzing charts and kicking the ball around with fellow FOREX blokes. I love it!
So true. If you want to be the best there is no time to take a break. You take a break when this becomes so easy its boring. To me its interesting meaning I have a long ways to go.

I just appreciate guys like Ken,Rufus and a few others popping in to help us. These guys are good at what they do and them taking there time to help us is priceless.
  • #499
  • Oct 15, 2011 10:54am Oct 15, 2011 10:54am
Quoting Rufus
Hi Ken and all

Thanks for all the work you have put into this Ken....

I would also like to tell traders here that I have taken the OTA Forex class. It is top notch. You will learn supply and demand. But there is a lot more to the class then S/D. There is a lot packed into a week of sessions, too much for a post here.

We all should know that S/D is only part of the picture. Trading psychology is a big portion of the rest. No one can teach you this. I would say that the best this thread or OTA class can do is give us keys or tips on how to...
Yes i agree, But sometimes it is hard to talk about , As a lot of newer traders don't really see it yet as a issue, and I have seen a lot of older traders ( A few years) still not admit that is their main issue.

I have known for most of my time trading that it is what is holding me back. I have ONLY ever looked at price action trading with no or very few indicators. That is why i have finally gravitated to this trading idea.

Every indicator or added part to a system can add to our emotional burden of doing the right thing , so the fewer the better. That is one reason I have not even mentioned the all star entry,

I am loving the few rules clear areas to place entries and stops as well as defined targets a must for me. I can see the light at the end of the tunnel using this strategy. As I have said before it is possible using this system to pretty much take the human factor out of the equation. Which we showed with just the oz levels we picked.

So we shall keep moving forward to our final goal of , freedoom to do the things we choose.

nice charts guys ..
Good Trading To All ; Ken Lee
  • #500
  • Oct 15, 2011 11:02am Oct 15, 2011 11:02am
Quoting Kenneth Lee
Yes i agree, But sometimes it is hard to talk about , As a lot of newer traders don't really see it yet as a issue, and I have seen a lot of older traders ( A few years) still not admit that is their main issue.

I have known for most of my time trading that it is what is holding me back. I have ONLY ever looked at price action trading with no or very few indicators. That is why i have finally gravitated to this trading idea.

Every indicator or added part to a system can add to our emotional burden of doing the right thing , so the fewer the...



TWO BIG THUMBS UP

This week I will again have very little time to watch charts. I have a ton of work lined up.. So I will be setting pending orders again Sunday night. Then if I can get my tired ass out of bed early enough in the morning, set some more PO for the US session.

We will see how it goes.

Last week was a positive week with nothing but PO. Talk about emotion free trading. I am 50 miles from the charts at times when they get activated.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
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