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B.S. Trading with Kenneth Lee

  • #741
  • Oct 20, 2011 3:46pm Oct 20, 2011 3:46pm
Quoting acetrader
Ken, or anyone willing to offer their view. It appears to me that if price touches a level once & briefly lingers, that will usually produce some nice pips & if price touches a second time & lingers, again a nice move usually follows.....is the key to the nice move the length of time price lingers at a level & what is the significance of more than one touch?

Thanks for any views put forth. I think I understand already, but would much appreciate the views of those more versed than me.

_________________________
Yes this is true. if price touches or just barely misses a level and forms a pin that is the ones i love. Shows a load of orders still within that level. The only thing that would be better is to truly see those orders and the why it turns just short. I have heard to tell it si because we are now competing with the big traders that are trying to get their massive orders filled.

You can see actually what your talking about in the charts . I have posted a good many of the swap charts showing as a level has many touches then breaks. The swap. It is clear the first touch is normally just barely a hit or evne a slight miss . the second a bit deeper an the third even more so. Then finally the break or move through the level.

You can see also at times that a level gets shored up by additional orders and see this play out just the opposite. The price getting deeper into the level then following tests keep turning sooner. This is showing others have added orders to this level for any number of reasons.

the charts can show you almost everything just need to look and really see what is going on . Draw a few lines and watch happens at them .
Good Trading To All ; Ken Lee
  • #742
  • Oct 20, 2011 3:52pm Oct 20, 2011 3:52pm
Ken,

Thank you for clearing that up for me. I thought that was how I was seeing it, but was not sure. It is amazing trading S&D levels & how the trades play out around these levels. The more time I spend with the charts, the clearer it becomes. Again, thank you.

_________________
  • #743
  • Oct 20, 2011 3:54pm Oct 20, 2011 3:54pm
chart
Attached Image (click to enlarge)
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Good Trading To All ; Ken Lee
  • #744
  • Oct 20, 2011 4:10pm Oct 20, 2011 4:10pm
Here's my take on what happened on the Eu today as the new day begins. This seems too easy. I feared taking all of them. A couple of the zones were very big but they paid 2:1 plus some more. I didn't include the swap trade.

Kenneth is so kind to softly guide us thru the haze. I appreciate his extra effort...thanks Kenneth.

Steve
Attached Image (click to enlarge)
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  • #745
  • Oct 20, 2011 4:11pm Oct 20, 2011 4:11pm
Quoting Kenneth Lee
chart

great example of the swap and how to enter it immediately. Thing is to catch it.
  • #746
  • Oct 20, 2011 4:18pm Oct 20, 2011 4:18pm
Ken,

That last chart makes it even clearer for me. I am going back & review your previous charts showing the swaps. I am just about ready to convert my trading over to S&D completely in the upcoming week.

In over 20 yrs I have never seen a simpler method of trading.

This thread should really gain momentum in the coming weeks.

_______________________
  • #747
  • Oct 20, 2011 4:21pm Oct 20, 2011 4:21pm
stevewide,

I captured 45 of those 80 in that pair. Closed too soon. Tks for the chart.
  • #748
  • Oct 20, 2011 4:27pm Oct 20, 2011 4:27pm
Quoting acetrader
Ken,

That last chart makes it even clearer for me. I am going back & review your previous charts showing the swaps. I am just about ready to convert my trading over to S&D completely in the upcoming week.

In over 20 yrs I have never seen a simpler method of trading.

This thread should really gain momentum in the coming weeks.

_______________________
I haven't been trading that long only three years or so. But yes I am really enjoying trading again and as basically a scalper my trades are steadly getting longer.


Not very many rules to remember which makes it dead simple. Key is to not get paralysis there is always some losers , but as you see that the levels are very apparent and do hold price and even turns it most times. Plus as you start REALLY SEEING the price action at those levels. It even gets simpler. The key is to be interactive , We aren't looking for a candle or a pattern. we are in way before that normally. But if the level has weakened and we can see that also and bailout nicely.


It is funny the different types of price action trading that is taught. But until i see differently I will stick with this.

Hope it doesn't get to busy LOL barely keeping up and trading myself now.

Cheers Ken
Good Trading To All ; Ken Lee
  • #749
  • Oct 20, 2011 4:40pm Oct 20, 2011 4:40pm
Quoting stevewide
Here's my take on what happened on the Eu today as the new day begins. This seems too easy. I feared taking all of them. A couple of the zones were very big but they paid 2:1 plus some more. I didn't include the swap trade.

Kenneth is so kind to softly guide us thru the haze. I appreciate his extra effort...thanks Kenneth.

Steve

That big level at the top one with the 164 in it. If you look at that level ona 5 min chart to the left where the level comes from you can almost see the individual orders changing hands. I love this stuff. ken
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Good Trading To All ; Ken Lee
  • #750
  • Oct 20, 2011 4:51pm Oct 20, 2011 4:51pm
Ken,

After 3 yrs you are far ahead of me & that is evident by the charts & commentary you are posting. If I had stumbled upon this info yrs ago I would have saved mysef many hrs & lost pips.

Don't get stressed trying to trade & keep the questions answered.....let others help. There seems to be some that have a good grasp of trading S&D & they seem willing to help in your absence.

_____________________________
  • #751
  • Oct 20, 2011 5:10pm Oct 20, 2011 5:10pm
Quoting Kenneth Lee
I haven't been trading that long only three years or so. But yes I am really enjoying trading again and as basically a scalper my trades are steadly getting longer.


Not very many rules to remember which makes it dead simple. Key is to not get paralysis there is always some losers , but as you see that the levels are very apparent and do hold price and even turns it most times. Plus as you start REALLY SEEING the price action at those levels. It even gets simpler. The key is to be interactive , We aren't looking for a candle or a pattern. we...

No doubt Ken. We all can help. Not a pro at this by any means but getting better and better everyday. Like I said we will help. You got good guys who come around here. Sure they will chime in like Rufus and FXeuphoria and several others.
  • #752
  • Oct 20, 2011 5:24pm Oct 20, 2011 5:24pm
Quoting nawlins51
No doubt Ken. We all can help. Not a pro at this by any means but getting better and better everyday. Like I said we will help. You got good guys who come around here. Sure they will chime in like Rufus and FXeuphoria and several others.

Oh I know that just a bit of tongue and cheek. , Everyone has been great , Ken
Good Trading To All ; Ken Lee
  • #753
  • Oct 20, 2011 5:26pm Oct 20, 2011 5:26pm
G'day Ken -- would you mind commenting on this trade last night?
Thanks.
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We are all One. Be present. Be the Observer
  • #754
  • Oct 20, 2011 5:32pm Oct 20, 2011 5:32pm
We have mentioned to either be covered or wait for news release. You entered right before the gbp news on the next candle. news was good so up it went.
Good Trading To All ; Ken Lee
  • #755
  • Oct 20, 2011 5:38pm Oct 20, 2011 5:38pm
Quoting Kenneth Lee
We have mentioned to either be covered or wait for news release. You entered right before the gbp news on the next candle. news was good so up it went.
OK thanks----I used to have a news indy to remind me of that but took it off to declutter. Might stick it back.
We are all One. Be present. Be the Observer
  • #756
  • Oct 20, 2011 5:43pm Oct 20, 2011 5:43pm
Quoting Iamfx
OK thanks----I used to have a news indy to remind me of that but took it off to declutter. Might stick it back.
I like Oandas just small flags under your chart at the time it is to be released. But not hard to look up each day they mainly come out at the same time each day.
Good Trading To All ; Ken Lee
  • #757
  • Oct 20, 2011 5:50pm Oct 20, 2011 5:50pm
How many PO's do you guys find you have on at one time? I've been having around 8 on average. Currently i have 11 in wait. A couple on some daily levels, some on the 4hr and 2 on the 30m. Think this is excessive?
  • #758
  • Oct 20, 2011 6:08pm Oct 20, 2011 6:08pm
About 4 for me will be the max. For the most part I am setting a the screen so not using po's.
  • #759
  • Oct 20, 2011 6:09pm Oct 20, 2011 6:09pm
Quoting Good Lookin
How many PO's do you guys find you have on at one time? I've been having around 8 on average. Currently i have 11 in wait. A couple on some daily levels, some on the 4hr and 2 on the 30m. Think this is excessive?
No . I assume it is over a few pairs , Plus there are always some that are way out there, may never get hit. , Just keep track of them , Some platforms they are kinda hid. Oanda only places a mark where you place it . so Unless you look at the orders list you can forget them.

Cheers
Good Trading To All ; Ken Lee
  • #760
  • Oct 21, 2011 12:44am Oct 21, 2011 12:44am
ECB puppet speaks in 2 hours. Just wanted to remind folks.
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