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B.S. Trading with Kenneth Lee

  • #641
  • Oct 19, 2011 9:21am Oct 19, 2011 9:21am
Quoting Kenneth Lee
Can see it on the 30 min as well but just a big wick on the second green candle. I don't see it as being a uptrend so i would have stayed out of that one .

Lower high overall then just broke through that low at .8740those two levels are pretty close as well. But don't feel good about .8717 either.

Eur/gbp is tough lately with all the news.
thats my only downside to my trading, although good, i feel i can determine the trend better, what determines the trend for you before entering a trade, i know u can clearly see the trend naked, but if u zoom out on the same timelevel a downtrend easily them becomes an uptrend and thats my weak point
  • #642
  • Oct 19, 2011 9:33am Oct 19, 2011 9:33am
Quoting deankenny21
thats my only downside to my trading, although good, i feel i can determine the trend better, what determines the trend for you before entering a trade, i know u can clearly see the trend naked, but if u zoom out on the same timelevel a downtrend easily them becomes an uptrend and thats my weak point

I still like the 30 min seems to give me most of what I need, but always keep my eye on the swings highs and lows. But when looking for levels they should be apparent.

even if your looking at a fast chart when price moves to high like gbp poked up. you have to maybe move to a higher chart to even see the next supply level to the left. .

Depending on your platform maybe setting up a TAB for each currency with different time charts for each. That way you can see it all with just a glance.
Good Trading To All ; Ken Lee
  • #643
  • Oct 19, 2011 9:39am Oct 19, 2011 9:39am
Quoting Kenneth Lee
I still like the 30 min seems to give me most of what I need, but always keep my eye on the swings highs and lows. But when looking for levels they should be apparent.

even if your looking at a fast chart when price moves to high like gbp poked up. you have to maybe move to a higher chart to even see the next supply level to the left. .

Depending on your platform maybe setting up a TAB for each currency with different time charts for each. That way you can see it all with just a glance.
so you stay on 30 min, and trade only the direction the pair is going?
  • #644
  • Oct 19, 2011 9:55am Oct 19, 2011 9:55am
Quoting deankenny21
so you stay on 30 min, and trade only the direction the pair is going?
mainly , but keep a eye on the higher levels and the overall trends.
Good Trading To All ; Ken Lee
  • #645
  • Oct 19, 2011 10:02am Oct 19, 2011 10:02am
Quoting Kenneth Lee
mainly , but keep a eye on the higher levels and the overall trends.
this is what i do, but higher levels look at 4hr could be down for past 4 weeks then the 1 hour shows up for the whole week so would u be taking supplys on a 30 min ??

what im saying is he 4hr can kick in any min to go down, but the 1hr has been up up up
  • #646
  • Oct 19, 2011 10:07am Oct 19, 2011 10:07am
Quoting deankenny21
this is what i do, but higher levels look at 4hr could be down for past 4 weeks then the 1 hour shows up for the whole week so would u be taking supplys on a 30 min ??

what im saying is he 4hr can kick in any min to go down, but the 1hr has been up up up


just something im looking at regards trend,may or may not work-out....

LONG above daily open/Short below daily open.....

Also other variables can be the weekly open or monthly open for slightly longer term.
  • #647
  • Oct 19, 2011 10:17am Oct 19, 2011 10:17am
Now that I am understanding Swap levels better I see how they can give you confidence to trade against the overall trend. Specifically a retest of that swap level and continued move countertrend. Example is EU right now. Yesterday demand levels were broken signaling countertrend but later that swap level was rebroken in the direction of the major trend. Right now we are retesting the area of that swap.
  • #648
  • Oct 19, 2011 11:13am Oct 19, 2011 11:13am
Maybe I am just simple minded. I look for a short off supply if price is moving up. I look for a long off demand if price is moving down. If I am trading against the trend I look to take profit at the first Level. or even sooner if it stalls.

If with the trend I might move stop to BE at first level hoping for higher or lower moves.

Even if you should move into a major supply level off daily if price moves down to a demand on 30 minute it will probably trade back to a supply level within the major supply level. But I would look for a possible greater move from that daily supply.

But that is how i have been doing it a long while and get pretty good returns from it. if a level breaks take the loss look for your swap and re-enter. if your worried about a false break wait for it to move away and take the fresh touch not the initial breakout.
Good Trading To All ; Ken Lee
  • #649
  • Oct 19, 2011 11:17am Oct 19, 2011 11:17am
I can't seem to find the answer on my own so I'm hoping someone can explain what a swap level is. Thanks in advance.
  • #650
  • Oct 19, 2011 11:21am Oct 19, 2011 11:21am
Ken's PDF of which is on the first post to this thread explains it very clearly.
  • #651
  • Oct 19, 2011 11:32am Oct 19, 2011 11:32am
Quoting FTimeForex
I can't seem to find the answer on my own so I'm hoping someone can explain what a swap level is. Thanks in advance.

Same as resistance becomes support , But with supply and demand levels we can pick better entry levels with less risk.
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Good Trading To All ; Ken Lee
  • #652
  • Oct 19, 2011 11:34am Oct 19, 2011 11:34am
more
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Good Trading To All ; Ken Lee
  • #653
  • Oct 19, 2011 12:14pm Oct 19, 2011 12:14pm
Quoting Kenneth Lee
Same as resistance becomes support , But with supply and demand levels we can pick better entry levels with less risk.

Thanks so much Ken. I now understand.
  • #654
  • Oct 19, 2011 12:27pm Oct 19, 2011 12:27pm
Ken,

Do you enter trades on the retrace to a swap level ever?
  • #655
  • Oct 19, 2011 2:25pm Oct 19, 2011 2:25pm
Quoting FTimeForex
Ken,

Do you enter trades on the retrace to a swap level ever?

yes very often. But mainly look for a fresh ( First) touch
Good Trading To All ; Ken Lee
  • #656
  • Oct 19, 2011 4:20pm Oct 19, 2011 4:20pm
Hey Ken---do you reckon Dopey (who is no dope) is hinting that we should use index correlation combined with S/D to increase our chances?
We are all One. Be present. Be the Observer
  • #657
  • Oct 19, 2011 4:28pm Oct 19, 2011 4:28pm
Quoting Iamfx
Hey Ken---do you reckon Dopey (who is no dope) is hinting that we should use index correlation combined with S/D to increase our chances?
I started looking at the dollar index. The point of the thread is not to complicate it. Like I said I am looking to give me hints on where price may turn especially when price seems trapped. I am just looking for that extra edge. Just my 2 cents
  • #658
  • Oct 19, 2011 4:30pm Oct 19, 2011 4:30pm
Perfect supply and demand play EUR/JPY
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  • #659
  • Oct 19, 2011 4:41pm Oct 19, 2011 4:41pm
Dopey,

Tks for your response & I mean NO disrepect to you & your profession, in fact I admire anyone that can teacher others......such as Ken is doing.
If you have taught in both public & private settings, you surely know what I was referring to. Anyway I respect you as a trader & teacher. I have two professors & three high school teachers in my family, so I know what you face each day. Enough of this topic & now back to trading.

Ken......sorry for getting way of topic. Thank you for the info & experience you are sharing.

_____________________
  • #660
  • Oct 19, 2011 4:53pm Oct 19, 2011 4:53pm
Gonna break down the EU M30 chart. Let everyone know what I think is good areas. Let me know what you think. Its good to ask each other WHY. its how we get better. So don't hesitate if you disagree. I may be wrong.
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