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B.S. Trading with Kenneth Lee

  • #501
  • Oct 15, 2011 11:13am Oct 15, 2011 11:13am
I must admit when I first viewed Sam's videos they seemed more like teasers just to get you into the academy and I know they probably are. I guess the difference is that Sam is the real deal.

Having already spent hard earned dollars on other useless sytems on the internet I was quite weary of paying another dime. I have looked at the OTA and it is not cheap to get in. Many thousands of dollars. So there can be no doubt Sam is taking a significant chunk of change from this.

Not to be disrespectful of Sam or anyone else who charges to teach good FOREX trading skills but it seems to me they should be able to make money just trading. Then again why should I feel that way since one needs to pay for education to acquire skill and knowledge to work or practice in any other profession or trade. Case in point. I am a nurse practitioner and I paid thousands for my education. It was worth it and I make a good living.

Unfortunately learning FOREX has no regulations or specific pathway to becoming a trader. Anyone is allowed to trade. Unlike learning to be a nurse or doctor you must follow a specific educational plan, otherwise you can never be a doctor or a nurse.

So in my final analysis FOREX education is full of snake oil and it can be difficult to weed out the crooked salesmen from those who genuinely want to educate budding traders to be successful. Sam Seiden seems to be one of the genuine educators. Fortunately Kenneth has provided a forum here for us to benefit from Sam's teachings and we don't have to pay big bucks. OK enough rambling.
  • #502
  • Oct 15, 2011 11:16am Oct 15, 2011 11:16am
Winston Reed I just looked at the Cad and wow. that is pretty sweet . I found the Daily very interesting.

Here is my opinion. Already in a minor uptrend on daily. I have included what I think may happen. Be happy to see it go this way meaning i am learning something right. I have included 2 charts of the USDCAD Daily to show what I am thinking. The yellow lines are predictions of how I think it plays out. Again my 2 cents. Would love to hear what all of you may see.
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  • #503
  • Oct 15, 2011 11:23am Oct 15, 2011 11:23am
Quoting nawlins51
Winston Reed I just looked at the Cad and wow. that is pretty sweet . I found the Daily very interesting.

Here is my opinion. Already in a minor uptrend on daily. I have included what I think may happen. Be happy to see it go this way meaning i am learning something right. I have included 2 charts of the USDCAD Daily to show what I am thinking. The yellow lines are predictions of how I think it plays out. Again my 2 cents. Would love to hear what all of you may see.

OZ and Loonie can be some of the easiest pairs to trade , not as volatile as the dollar or pound pairs.
Good Trading To All ; Ken Lee
  • #504
  • Oct 15, 2011 11:30am Oct 15, 2011 11:30am
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...
If I could vouch you would get one with this post. This is so true and I still feel the need for an indicator. But I will say this. Everyday not using them and just watching price go to the zones I have drawn and make pips is very rewarding and confidence is being gained more and more every day trading this way. In fact I went through my computer this morning and was deleting folders of indicators. Some I did not delete because I paid a lot for them. Eventually they will be deleted also.

The mental issue is very important. And its a learning process. I will say the mental aspect and money management are the hardest things to grasp but working on them every session.

Rufus posted a while back in response to my tantrum of missing a trade. he gave a good lesson to me and shared with all of you. What he said to do was find your zones and even if they are solid just pass on them and watch. So you are basically watching your best entries go by. This teaches patience and lets you know there are others right around the corner. He would of got vouched for that post also.
  • #505
  • Oct 15, 2011 11:35am Oct 15, 2011 11:35am
Quoting Kenneth Lee
OZ and Loonie can be some of the easiest pairs to trade , not as volatile as the dollar or pound pairs.
I always worry about the loonie(cad if others dont know). The worrying derives from oil. I just see oil bouncing around in the market with good news bad news. good news bad news making it crazy.

But with yall killing it I will add it and trade it. See the mental part still affects my thinking on what to do. Just like what you and Rufus are talking about. Work in progress.
  • #506
  • Oct 15, 2011 1:19pm Oct 15, 2011 1:19pm
Quoting nawlins51
I always worry about the loonie(cad if others dont know). The worrying derives from oil. I just see oil bouncing around in the market with good news bad news. good news bad news making it crazy.

But with yall killing it I will add it and trade it. See the mental part still affects my thinking on what to do. Just like what you and Rufus are talking about. Work in progress.
That is funny like the others aren't all over the place with euro worries and other bad economic news.
Good Trading To All ; Ken Lee
  • #507
  • Oct 15, 2011 1:31pm Oct 15, 2011 1:31pm
I tend to stay away from the gbp because of all the news .. LOL it seems the most likely to trip your stop then turn , Not that the levels don't hold but sometimes I think price moves so fast it just takes a moment for the orders to start getting filled to turn the action , Just my thoughts. Ken
Good Trading To All ; Ken Lee
  • #508
  • Oct 15, 2011 2:17pm Oct 15, 2011 2:17pm
Quoting Kenneth Lee
That is funny like the others aren't all over the place with euro worries and other bad economic news.
haha i know bro. Just always feared the CAD.
  • #509
  • Oct 15, 2011 2:20pm Oct 15, 2011 2:20pm
Quoting Kenneth Lee
I tend to stay away from the gbp because of all the news .. LOL it seems the most likely to trip your stop then turn , Not that the levels don't hold but sometimes I think price moves so fast it just takes a moment for the orders to start getting filled to turn the action , Just my thoughts. Ken
Thats very interesting but come to think about it I remember seeing that recently in the pound. Oh lord I am narrowing down my pairs to trade...lol
  • #510
  • Oct 15, 2011 4:51pm Oct 15, 2011 4:51pm
Quoting Kenneth Lee
The pdf is Below ,, Sorry not the highest quality but should be enough to start a dialogue.
Quote
Sorry not the highest quality but should be enough to start a dialogue

Yes it is

Since i trade supply/demand levels i wanna agree with your view on trading retests.

Retests after breakouts are the most reliable,safest and comfortable way of trading in my humble opinion....

Ill check the pdf and will join posting in here because i think this is one of the best supply/demand threads here....

until ill open my personal trading journal that will be about trading supply/demand , breakouts and retest at the higher timeframes

take care,

see you around,

Jonas.
Hero calls followed by margin calls...
  • #511
  • Oct 15, 2011 4:54pm Oct 15, 2011 4:54pm
Quoting PhAnTi'
Yes it is

Since i trade supply/demand levels i wanna agree with your view on trading retests.

Retests after breakouts are the most reliable,safest and comfortable way of trading in my humble opinion....

Ill check the pdf and will join posting in here because i think this is one of the best supply/demand threads here....

until ill open my personal trading journal that will be about trading supply/demand , breakouts and retest at the higher timeframes

take care,

see you around,

Jonas.
subscribeeeed...

by the way : does anyone have the indicator displaying horizontal lines on the 100 pip interval for me?

would be great,

regards Jonas
Hero calls followed by margin calls...
  • #512
  • Oct 15, 2011 5:02pm Oct 15, 2011 5:02pm
Quoting PhAnTi'
subscribeeeed...

by the way : does anyone have the indicator displaying horizontal lines on the 100 pip interval for me?

would be great,

regards Jonas
u talking about my round number indicator. If you are here ya go. You can set the interval as much as you want or as little as you want.
Attached File(s)
File Type: ex4 Round Numbers Beige.ex4   3 KB | 569 downloads
File Type: mq4 Round Numbers Beige.mq4   4 KB | 614 downloads
  • #513
  • Oct 15, 2011 5:48pm Oct 15, 2011 5:48pm
Hey Ken and Nawlins hope you don't mind I put you two blokes on my buddy list
  • #514
  • Oct 15, 2011 5:50pm Oct 15, 2011 5:50pm
Quoting Winston Reed
Hey Ken and Nawlins hope you don't mind I put you two blokes on my buddy list
Not at all.
  • #515
  • Oct 15, 2011 10:09pm Oct 15, 2011 10:09pm
Quoting Winston Reed
Hey Ken and Nawlins hope you don't mind I put you two blokes on my buddy list
Good Trading To All ; Ken Lee
  • #516
  • Oct 16, 2011 3:52am Oct 16, 2011 3:52am
Quoting nawlins51
u talking about my round number indicator. If you are here ya go. You can set the interval as much as you want or as little as you want.
thanks a lot bud.
Hero calls followed by margin calls...
  • #517
  • Oct 16, 2011 4:10am Oct 16, 2011 4:10am
as mentioned before trading retests is the most reliable way of trading in my humble opinion regarding the higher timeframes.

If price breaks a box of consolidation we wait for price coming back to this area and entering again.

So if price breaks out southwards we wait for price reversing back up close to the previous box and entering short with stops in or above the box.

This way we follow the trend, take an huge r:r entry and are able to manage the trade in a comfortable way.

This is how i trade, see example below l,note : this example gives us the 1.000 level as resistance in addition.

Attached Image (click to enlarge)
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Hero calls followed by margin calls...
  • #518
  • Oct 16, 2011 4:17am Oct 16, 2011 4:17am
Quoting PhAnTi'
as mentioned before trading retests is the most reliable way of trading in my humble opinion regarding the higher timeframes.

If price breaks a box of consolidation we wait for price coming back to this area and entering again.

So if price breaks out southwards we wait for price reversing back up close to the previous box and entering short with stops in or above the box.

This way we follow the trend, take an huge r:r entry and are able to manage the trade in a comfortable way.

This is how i trade, see example below l,note : this example...
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.jpg Size: 142 KB
Hero calls followed by margin calls...
  • #519
  • Oct 16, 2011 4:24am Oct 16, 2011 4:24am
Quoting PhAnTi'
Attachment
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Hero calls followed by margin calls...
  • #520
  • Oct 16, 2011 4:55am Oct 16, 2011 4:55am
Quoting PhAnTi'
Attachment
comments always appreciated

Attached Image (click to enlarge)
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Hero calls followed by margin calls...
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