B.S. Trading with Kenneth Lee

Better chart showing lower demand zone. Also we are currently flirting with the 4 hour supply zone.

Hello guys,

I'm new to all this and very happy to be part of this forum.

Cheers.

Zones look nicely defined in this 30min USDCHF chart. However price is right in a 4 hour supply zone. What are you all's thoughts?

samikaze,

Welcome to the thread. Learn all you can from these guys & save yourself the stress of hunting down the next great indicator or EA.

This is by far the less stressful way of trading once you learn to spot the Supply & Demand levels. Best trades to you in the weeks ahead.

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Do most people here trade using Supply and Demand in the spot market or currency futures market? Sam Seiden states in one of his videos that he prefers the futures market because it is regulated where the spot market is not. I'm considering making the switch to the futures market for this reason. Does anyone have any insight into this and if so what is one of the better brokers to trade the futures market? Thanks in advance.

FTimeForex,

Spot for me at time, but I have read alot of good comments about the currency futures market & some have said the futures adhere to the Supply & Demand levels better than spot will. Not sure about this as I am in the spot market. There should be someone on this thread that can give their experience trading futures. Best of trades to you.

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Yes plus the futures is supposedly smoother not having as many novice retailers involved in it. I am the same but haven't investigated it yet. Plus be another bit of training new platform or ordering system.

May work with it in the spot for a bit longer then try to switch later. If it is all true the transition should be a plus making it a bit easier.

Maybe someone is already using the futures and could give us a heads up on any differences.

Ken

it is in a demand level. Buy Demand , Sell Supply. ???

Your Supply levels look well marked though.

would keep a eye on 1.3825 ish . If the new trend has any strength On open may hold .

Thanks. I meant 4 hour demand.

I have read the PDF file. Really nice stuff. Thanks Ken for all the work you have put in.

Hi Guys....

I'm so glad to have found this thread. A fan of Sam Seiden's work. Since I'm still learning this, I've posted a chart of usd/chf (1hr) with the supply levels drawn. Have I drawn "Supply 1" correctly? And when price comes back... would it be better to place a PO at 0.90826 or 0.90574?

Looking forward to anyone's input.

Cheers.

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Also...

with the aud/usd chart(1hr) are D1, D2 & D3 valid demand levels? And please correct me if I'm wrong - D4 is now a weak demand level and price could possibly fall thru this level reaching D3 or even D2 if they are valid demand levels.....


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Sup peeps. Just wanted to let you guys know my progress. I recently opened a $10 account with oanda to try out some trading systems here on ff. I traded it down to -13% risking between 1% and 3% at a time. I then i started trading this system risking 1% at a time with one 2:1 rr and within 1 week i brought it back up to break even. Some trades i closed early with a small profit that could have been larger and others i closed early with a small loss that would have been larger . Actually if i just let them run i would probably be in the same place. This week i'm moving up to 2% per trade with 3:1 on the 4hr and 2:1 on anything below.

What i like best about this way of trading is it just makes sense. I can analyze this a chart, set a PO and just let it do its own thing. Since i'm at work i don't have the time to keep checking up on em so this works for me. This feels like a piece of the puzzle has been set.

Currently i feel pretty solid on my MM but it can be improved.
Risking 2% per trade (i'm playing with the idea of risking 1% on the below 4hr trades).
The amount i risk is calculated on Sunday. If i'm risking 2% then it will be 2% of Sunday starting balance until next Sunday regardless of wins and losses.
Reward/Risk- 2:1 on below 4hr and 3:1 on 4hr and above
I don't have any trade limits for the week seeing as how its all PO's and no MO's.
Withdrawals and back up accounts wouldn't be for this account.
I feel like i'm missing something.. oh wells. I'll figure it out.

Any thoughts of what needs to be improved here? And also if you don't mind sharing i'd like to see what kind of Money Management you guys employ.

Hello Kodex. This is my USDCHF 30 min chart with supply levels. Price is currently in a 4 hour demand zone so it seems like some upside price action is likely.

Little OZ trade I took today

Squeaked out around 8 pips. Read my notes on my chart to learn from my dumb ass mistake. Prolly should of shorted that bastard again just now. Anyway good luck this week.

Also on the EU we have a double bottom that formed. Price may be an asshole right here and shoot up and down real quick making that porcupine action we all love to hate. I am still looking to go short.

Lets see how this one turns out.

My friend, the trade u did doesn't look that bad bro. At least you got out with 8pips better than a losing trade or BE. Most of the time the price goes and touch the tip of demande or supply zone and retraces BUT later on, it goes back to that same zone and goes deeper.

I am looking at it now, it did go back to your profit zone deeper and it is now reversing.

Here is the scenario that may happen next time: next time, it may go to your profit area and u will be taking all ur profit b/c in ur mind last time it reversed quick and u only made 8pips, but this time the opposite happened, it went deeper deeper in the demande area. So now in your mind you will say F**k I wish I left it go deeper, why in hell did I take my profit toooo early, and in your subconscious you will always have a doubt. well bro, welcome to psychology of trading.

Solution, Have a plan, and follow ur plan everytime and that's how you stop your subconscious from interfering with ur position from frustration. Having plan to manage your open position is the key to success in this business and follow it with discipline.

Don't feel bad about it, Sometimes you risk little more to gain much bigger slice of pie.

Good luck