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B.S. Trading with Kenneth Lee

  • #561
  • Oct 17, 2011 11:53pm Oct 17, 2011 11:53pm
Quoting Kenneth Lee
oz
G'day Ken
I actually had this trade that was a loser-----so you reckon the price was too slow dropping into the zone?
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-10-18_1747.png Size: 79 KB
We are all One. Be present. Be the Observer
  • #562
  • Oct 17, 2011 11:58pm Oct 17, 2011 11:58pm
Would the below levels be what you would be valid to still trade with PO?

EJ I copied your Probability Enhancer text, hope you dont mind.

--------------------
First swap level:

Probability Enhancer Result = 7 or 8

1. Strength of the move. It moves away with no gap. (1)
2. Reward/risk 3:1 (2)
3. Big picture is UP but we are approaching daily Supply level (1)
4. Retracement/Test. It is a fresh touch (2)
5. Time at Level. Spent least time (1)
6. Arrival. Not determine yet as at the time of posting. (either 1 or 0)

POSSIBLE TRADE
-----------------------

NEXT DEMAND LEVEL A:

Probability Enhancer Result = 7 or 8

1. Strength of the move. It moves away with no gap. (1)
2. Reward/risk 3:1 (2)
3. Big picture is UP but we are approaching daily SWAP level (1)
4. Retracement/Test. It is a fresh touch (2)
5. Time at Level. Spent least time (1)
6. Arrival. Not determine yet as at the time of posting. (either 1 or 0)


POSSIBLE TRADE
--------------------------------

NEXT DEMAND LEVEL B:


Probability Enhancer Result = 7 or 8

1. Strength of the move. It moves away with no gap. (1)
2. Reward/risk 3:1 (2)
3. Big picture is UP but we are againest a strong intraday trend (1)
4. Retracement/Test. It is a fresh touch (2)
5. Time at Level. Spent least time (1)
6. Arrival. Not determine yet as at the time of posting. (either 1 or 0)


POSSIBLE TRADE


Attached Image (click to enlarge)
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  • #563
  • Oct 18, 2011 12:14am Oct 18, 2011 12:14am
Quoting Iamfx
G'day Ken
I actually had this trade that was a loser-----so you reckon the price was too slow dropping into the zone?

When you have such a clear target on a larger frame chart. kinda better to join the run and wait for the target at least. , it did reject from the bottom but has continued now.

http://www.forexfactory.com/showthre...80#post5047780
Good Trading To All ; Ken Lee
  • #564
  • Oct 18, 2011 12:20am Oct 18, 2011 12:20am
Quoting xxxxLearner
Ken,

This will problem sound silly, but.

When you identify the trend for the day prior to placing orders, and as most the the postions are intraday.

Do you only take positons in the direction of the current price trend? So when price is trading above its daily open, only place trades pulling back to a demand levels , and vicea versa?

Or would you still play short postions againest the trend of the day.

For instance today with EU, price has dropped(overnight for me), 150 or so pips. And for the last week or so we have been in a long...
Yes though I am the worse at fundamentals, but you have to agree , that they drive price and again the euro zone news was the driver yesterday. But yes I watch the trend on my 30 min chart but always have a idea where the levels on the longer charts are. Like the spot it turned on OZ last night for me anyway. But the best of course when the daily trend and the longer time frames agree can't hardly go wrong with those.

Just closed a oz short for 65 pips. so off to bed for me. That swap level was a decent entry again . the first touch being 3 below the level the second was just barely a touch . but my entry was a bit to soon why i only got 65 and not 85.
Good Trading To All ; Ken Lee
  • #565
  • Oct 18, 2011 12:24am Oct 18, 2011 12:24am
Thanks Ken I appreciate your response.
  • #566
  • Oct 18, 2011 12:31am Oct 18, 2011 12:31am
In this one right now---looked OK to me
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We are all One. Be present. Be the Observer
  • #567
  • Oct 18, 2011 12:33am Oct 18, 2011 12:33am
Your Oz loss , Every-time we get a loss look for the next trade it can be straightaway, Because like in this case the break created a swap level.
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Good Trading To All ; Ken Lee
  • #568
  • Oct 18, 2011 12:35am Oct 18, 2011 12:35am
Quoting Kenneth Lee
Yes though I am the worse at fundamentals, but you have to agree , that they drive price and again the euro zone news was the driver yesterday. But yes I watch the trend on my 30 min chart but always have a idea where the levels on the longer charts are. Like the spot it turned on OZ last night for me anyway. But the best of course when the daily trend and the longer time frames agree can't hardly go wrong with those.

Just closed a oz short for 65 pips. so off to bed for me. That swap level was a decent entry again . the first touch being 3 below...
hi xxxxLearner and Ken, I also see the uptrend on EU EJ AU and GU at H1 and H4 but yesterday's EU was on supply level at H4 and D1 so, the correction was very possible. and there also a posibility of HNS at H4.
but I saw that H1 uptrend hasn't finished yet, because the correction hasn't made a new Lower Low swing. am I right?

how abt these entires? I saw "fresh" demand zone, and uptrend at H1.

http://i1117.photobucket.com/albums/...DING/BuyEJ.png

http://i1117.photobucket.com/albums/...NG/BuyEU-1.png
TRADING IS SIMPLE BUT NOT EAZY
  • #569
  • Oct 18, 2011 12:46am Oct 18, 2011 12:46am
Quoting Kenneth Lee
Your Oz loss , Every-time we get a loss look for the next trade it can be straightaway, Because like in this case the break created a swap level.
OK thanks---sometimes the hard part is being there --especially when using PO's
We are all One. Be present. Be the Observer
  • #570
  • Oct 18, 2011 12:47am Oct 18, 2011 12:47am
Quoting green_trader
hi xxxxLearner and Ken, I also see the uptrend on EU EJ AU and GU at H1 and H4 but yesterday's EU was on supply level at H4 and D1 so, the correction was very possible. and there also a posibility of HNS at H4.
but I saw that H1 uptrend hasn't finished yet, because the correction hasn't made a new Lower Low swing. am I right?

how abt these entires?

http://i1117.photobucket.com/albums/...DING/BuyEJ.png

http://i1117.photobucket.com/albums/...NG/BuyEU-1.png
Yes especially on OZ still looking for a turn even if it keeps going down should get a decent swing north before really dropping. But think wiht the euro zone suppose to be working on the debt , Might be rangy till then though these huge ranges are great to trade.

Your levels look good but if your watching your trades remember the rejection should shoot away , The same as it does when we are looking for levels. So we can bailout if it is struggling to leave your entries. Plus even if your PO gets hit . If price moves pretty far into your level the chance of a failure has increased a lot.

Just like the OZ failure we have been posting charts about . see how far price went into that level before it rejected, Compare that to the two shorts to the right.

Hope this is clear, I am tired Ken
Good Trading To All ; Ken Lee
  • #571
  • Oct 18, 2011 12:50am Oct 18, 2011 12:50am
Quoting Iamfx
OK thanks---sometimes the hard part is being there --especially when using PO's

Very true, plus sometimes like that swap level . WE just don't see them straight away , but it does become easier. Most of us this is a newer idea. But it comes really quick , few rules to look for.

That level was kind of the short or long for me on the 30 minute chart . But that 4 hr made it a very risky move. No demand on that 4 hr. Which I think a lot look for for profit targets, Which means you might find it hard to get somebody to take the other side of your trade.
Good Trading To All ; Ken Lee
  • #572
  • Oct 18, 2011 1:00am Oct 18, 2011 1:00am
Quoting Kenneth Lee
Yes especially on OZ still looking for a turn even if it keeps going down should get a decent swing north before really dropping. But think wiht the euro zone suppose to be working on the debt , Might be rangy till then though these huge ranges are great to trade.

Your levels look good but if your watching your trades remember the rejection should shoot away , The same as it does when we are looking for levels. So we can bailout if it is struggling to leave your entries. Plus even if your PO gets hit . If price moves pretty far into your level...
thank's ken. I'm out now. the price come quickly to demand and a little deep.
TRADING IS SIMPLE BUT NOT EAZY
  • #573
  • Oct 18, 2011 1:11am Oct 18, 2011 1:11am
Quoting green_trader
hi xxxxLearner and Ken, I also see the uptrend on EU EJ AU and GU at H1 and H4 but yesterday's EU was on supply level at H4 and D1 so, the correction was very possible. and there also a posibility of HNS at H4.
but I saw that H1 uptrend hasn't finished yet, because the correction hasn't made a new Lower Low swing. am I right?

how abt these entires? I saw "fresh" demand zone, and uptrend at H1.

Hi GT,

I am not the best person to respond just yet. Sorry mate.
  • #574
  • Oct 18, 2011 1:13am Oct 18, 2011 1:13am
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  • #575
  • Oct 18, 2011 1:37am Oct 18, 2011 1:37am
Quoting Iamfx
In this one right now---looked OK to me
Went 30 pips my way before going crazy with the news---got out with -4pips.
Looking at the 5 min there was an area of supply at around the 80 level---prob should have got out there.
We are all One. Be present. Be the Observer
  • #576
  • Oct 18, 2011 1:42am Oct 18, 2011 1:42am
Quoting Iamfx
Went 30 pips my way before going crazy with the news---got out with -4pips.
Looking at the 5 min there was an area of supply at around the 80 level---prob should have got out there.
Yes saw that but took oz instead, darn,, got out with 30 so decent night for m. but 75 or 80 off gbp would have been sweeter.
Good Trading To All ; Ken Lee
  • #577
  • Oct 18, 2011 1:45am Oct 18, 2011 1:45am
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  • #578
  • Edited 2:33am Oct 18, 2011 2:04am | Edited 2:33am
Quoting xxxxLearner
Attachment
watch out, bad news for EU. prepare for whipsaw

edit :
price move up, nice entry Learner...
same here on EJ
http://i1117.photobucket.com/albums/...BoughtEJCT.png

and EU
http://i1117.photobucket.com/albums/...G/LongEUCT.png

but I set a tight TP
TRADING IS SIMPLE BUT NOT EAZY
  • #579
  • Oct 18, 2011 2:54am Oct 18, 2011 2:54am
Quoting green_trader
watch out, bad news for EU. prepare for whipsaw

edit :
price move up, nice entry Learner...
same here on EJ

but I set a tight TP
Thanks GT,

not sure, this level is weakening I think.

Will wait and see
  • #580
  • Oct 18, 2011 6:00am Oct 18, 2011 6:00am
Hey K.Lee,

Nice Thread !!
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