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B.S. Trading with Kenneth Lee

  • #661
  • Oct 19, 2011 5:03pm Oct 19, 2011 5:03pm
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 took a glance but haven't had time to study it at all. His post says something about using to find the best pairs to trade each day. Not sure it would have to be pretty dynamic for me to try and add to this. I really enjoy the simplistic method of this.

But to each their own some will always want a crutch to help them to see and trade. We have to follow our own destiny. ken
Good Trading To All ; Ken Lee
  • #662
  • Oct 19, 2011 5:15pm Oct 19, 2011 5:15pm
Quoting nawlins51
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.

Looks decent to me, for Asia session, would try and look again before London open though. Just If you get a entry in Asia try and have it covered (protected) before London.
Good Trading To All ; Ken Lee
  • #663
  • Oct 19, 2011 5:16pm Oct 19, 2011 5:16pm
Ken,

The simplicity of the method is exactly what got my attention & is why I have added this approach to what I am already doing.....I just might convert to this way of trading all together. Keep teaching.

____________________
  • #664
  • Oct 19, 2011 5:24pm Oct 19, 2011 5:24pm
Quoting Kenneth Lee
Looks decent to me, for Asia session, would try and look again before London open though. Just If you get a entry in Asia try and have it covered (protected) before London.
Thanks Ken. Watching it closely. EJ might get there first then AJ.
  • #665
  • Edited 7:35pm Oct 19, 2011 7:15pm | Edited 7:35pm
Quoting nawlins51
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.
Sup Nawlins,

Just to be clear, you've chosen the blue line as a blue level because it's a swap level? It looks as if it has swapped twice.

Edit: Actually if you look a little you'll see that area seems to be where some demand, supply, and swap has happened.
  • #666
  • Oct 19, 2011 7:46pm Oct 19, 2011 7:46pm
Quoting Good Lookin
Sup Nawlins,

Just to be clear, you've chosen the blue line as a blue level because it's a swap level? It looks as if it has swapped twice.

Edit: Actually if you look a little you'll see that area seems to be where some demand, supply, and swap has happened.
blue line is where i will enter to go short. this is a supply level.
  • #667
  • Oct 19, 2011 8:26pm Oct 19, 2011 8:26pm
Quoting Good Lookin
Sup Nawlins,

Just to be clear, you've chosen the blue line as a blue level because it's a swap level? It looks as if it has swapped twice.

Edit: Actually if you look a little you'll see that area seems to be where some demand, supply, and swap has happened.

Some are using Horizontal Lines so they go all the way across the chart. So looks like they are also picking levels from the left. Not suppose to be. anything price has crossed in front of is considered voided already.

Using trend lines from the levels might be clearer. even two one green for entry and one red for stop would help. just a thought.
Good Trading To All ; Ken Lee
  • #668
  • Oct 19, 2011 8:28pm Oct 19, 2011 8:28pm
Example of using smaller timeframes for entries. Doesnt get any clearer. Thanks Ken And Rufus for talking about this at the beginning of this thread. Its getting clearer by the day.
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  • #669
  • Oct 19, 2011 8:32pm Oct 19, 2011 8:32pm
Nice post Nawlin. That is very clear example. I took EU up the other day for a very nice profit and now im taking it short.


Quoting nawlins51
Example of using smaller timeframes for entries. Doesnt get any clearer. Thanks Ken And Rufus for talking about this at the beginning of this thread. Its getting clearer by the day.
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  • #670
  • Oct 19, 2011 8:38pm Oct 19, 2011 8:38pm
Hey Kenneth, do you have any inputs on what i learnt from Sam Seiden regarding a valid demand or supply zone must have a base of at least 3 candles before surging away to form the zone?
  • #671
  • Oct 19, 2011 8:42pm Oct 19, 2011 8:42pm
euro entry , I took OZ instead it is their session right now as well.
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Good Trading To All ; Ken Lee
  • #672
  • Oct 19, 2011 8:43pm Oct 19, 2011 8:43pm
Quoting firstaid
Nice post Nawlin. That is very clear example. I took EU up the other day for a very nice profit and now im taking it short.
Beautiful short bro. Ej and Aj also bounced nicely down
  • #673
  • Oct 19, 2011 8:47pm Oct 19, 2011 8:47pm
Quoting deankenny21
Hey Kenneth, do you have any inputs on what i learnt from Sam Seiden regarding a valid demand or supply zone must have a base of at least 3 candles before surging away to form the zone?

yes i understand the confusion on that . AS in the start he states 2 to 5 candles. But that is relative to the time frame, As in the example above. The 5 minute has only one candle but the 1 min is 7 candles.

In most of his videos he is saying he looks for levels on a higher time chart , and for intraday uses 30 min and 1 hr to pick levels. But enters using the 2 min chart So which chart are we looking for 2 to 5 candles ?

I just look for the best moves away from the levels even if it is just a single candle on the 30 minute. I know that that would be 2 on a 15 minute 3 on a 10 and 6 on a 5 min.

Just a thought. Ken
Good Trading To All ; Ken Lee
  • #674
  • Oct 19, 2011 8:47pm Oct 19, 2011 8:47pm
Quoting Kenneth Lee
euro entry , I took OZ instead it is their session right now as well.
Switched to M15 is why i put the line there. Want to reduce zone as much as possible. I know its not the ideal way but I try to squeeze the zone as much as possible. My risk is 2% no matter what so a 25 stop loss to a 15 pip stop loss changes my lot size. Yeah i am retarded but its how I see it. Let me get my confidence sky high with this trading style and I won't worry lol. Getting there Ken.
  • #675
  • Oct 19, 2011 8:48pm Oct 19, 2011 8:48pm
Quoting nawlins51
Beautiful short bro. Ej and Aj also bounced nicely down

Took Oz me self.. Nice little short
Good Trading To All ; Ken Lee
  • #676
  • Oct 19, 2011 8:52pm Oct 19, 2011 8:52pm
Thanks for the quick response guys.

I've actually read this entire thread as well as Dean's entire thread as well as Rocky's entire thread and some of redword's thread. I've probably watched at least 10 of the videos posted by sam and read his articles as well as Rich Wright. I've been using S/D on a live $10 account (lols) and i now feel more comfortable trading.

I asked that question because i'm not to comfortable with swap levels. If i choose to classify a demand or supply level based on "swap action" then it has to be a REALLY LARGE move, otherwise i just leave em alone.

I find that while all S/D levels have some sort of reaction when approached (even if its a 5 pip bounce ), i've noticed that Rally-Base-Drop and Drop-Base-Rally seem to have stronger bounces than Rally-Base-Rally and Drop-Base-Drop. So i find it interesting to see what you guys choose as valid swap levels.
  • #677
  • Oct 19, 2011 8:52pm Oct 19, 2011 8:52pm
Quoting nawlins51
Switched to M15 is why i put the line there. Want to reduce zone as much as possible. I know its not the ideal way but I try to squeeze the zone as much as possible. My risk is 2% no matter what so a 25 stop loss to a 15 pip stop loss changes my lot size. Yeah i am retarded but its how I see it. Let me get my confidence sky high with this trading style and I won't worry lol. Getting there Ken.

Why i pick the lower level on a 30 min then leave the lower line and see if you can just move the stop line closer to it. Not really a option on E/u though this time.
Good Trading To All ; Ken Lee
  • #678
  • Oct 19, 2011 8:57pm Oct 19, 2011 8:57pm
Quoting Good Lookin
Thanks for the quick response guys.

I've actually read this entire thread as well as Dean's entire thread as well as Rocky's entire thread and some of redword's thread. I've probably watched at least 10 of the videos posted by sam and read his articles as well as Rich Wright. I've been using S/D on a live $10 account (lols) and i now feel more comfortable trading.

I asked that question because i'm not to comfortable with swap levels. If i choose to classify a demand or supply level based on "swap action" then it has to be a REALLY LARGE move,...
Have to trade what you like but keep your eyes on those swaps when the price flies away and price moves a good distance. Plus it depends on your trading style if your happy with scalps of around 40 pips or so they are luvlly for that purpose. like the 1.3832 level on e/u Frankfurt open this am.

Nice 50 Pips.
Good Trading To All ; Ken Lee
  • #679
  • Oct 19, 2011 8:58pm Oct 19, 2011 8:58pm
Quoting Kenneth Lee
Why i pick the lower level on a 30 min then leave the lower line and see if you can just move the stop line closer to it. Not really a option on E/u though this time.
Its a good idea to try. Money management is a juggling act. Trying to compound my account. its the hardest issue to learn properly in trading and why my thinking was to narrow the stop loss as much as possible to grow my account faster while taking less trades.,
  • #680
  • Oct 19, 2011 9:03pm Oct 19, 2011 9:03pm
Quoting nawlins51
Its a good idea to try. Money management is a juggling act. Trying to compound my account. its the hardest issue to learn properly in trading and why my thinking was to narrow the stop loss as much as possible to grow my account faster while taking less trades.,

yes but you could also just have a lessor stop halfway in the level as well on a fresh touch entry.

hard ot tell someone how to manage their money. everyone is a bit different.
Good Trading To All ; Ken Lee
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