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B.S. Trading with Kenneth Lee

  • #821
  • Edited 5:27pm Oct 24, 2011 5:17pm | Edited 5:27pm
Closed all three for profits...........Not Good enteries on EU today
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  • #822
  • Oct 24, 2011 10:11pm Oct 24, 2011 10:11pm
Quoting green_trader
I think we should consider the USDX, it hasn't reach the demand yet.
but ken, the trend is going to up now.

Someone had posted a chart with a lower level on that leg, Just showing that if your going to try a short against the trend look for a new fresh level . and if it is on a bigger chart the better.

Yep wish I had re-entered or held my OZ long as well. But i don't seat the little stuff. i am very happy with my days gain .
Good Trading To All ; Ken Lee
  • #823
  • Oct 25, 2011 4:16am Oct 25, 2011 4:16am
Hi Kenneth

I'm a bit confused.... you seem to draw levels on RBR or DBD areas. Coz after watching Sam's videos he only takes RBD or DBR as levels. I have been ignoring these levels (RBR/DBD) in the past 5 weeks demoing this method. But I've only been using the Weekly, daily and 1 hr chart. Looks like you guys are getting better results with the 30min and lower.?
  • #824
  • Oct 25, 2011 6:31am Oct 25, 2011 6:31am
Hi Kodex - I'll let Kenneth give you his definitive answer, but this is my experience: I've been mostly taking RBD or DBR levels while testing this method, and what I find is with those you often end up taking trades against the trend. I've had really poor results doing this - getting stopped out on 5 out of 6 trades.

When you look at Ken's trades, he often takes second and third touches from zones which started out as RBR levels. So he has nice clear zones AND is trading with the (at least short term) trend.

I need to learn to do this!

PB


Quoting kodex750
Hi Kenneth

I'm a bit confused.... you seem to draw levels on RBR or DBD areas. Coz after watching Sam's videos he only takes RBD or DBR as levels. I have been ignoring these levels (RBR/DBD) in the past 5 weeks demoing this method. But I've only been using the Weekly, daily and 1 hr chart. Looks like you guys are getting better results with the 30min and lower.?
  • #825
  • Oct 25, 2011 7:09am Oct 25, 2011 7:09am
Kenneth teaches us that sometimes dropping down to the 5m chart helps make more trades profitable. Wait for a 30m level then drop to 5m to move the line for better entry; seems to allow a few more pips profit on countertrend.

See Eu pic; got in late after pinbar formed giving additional confirmation. Kenneth teaches to use all the forex education you can use as additional confirmation.

This is a risky trade since countertrend but worse is the choppy candles instead of a surge to the line and then a surge dropping down from the line. The pinbar may have suckered me in. But my point is using the 5m chart seems to help.

Steve
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Click to Enlarge Name: eu 5m.gif Size: 17 KB
  • #826
  • Edited 7:45am Oct 25, 2011 7:34am | Edited 7:45am
Quoting kodex750
Hi Kenneth

I'm a bit confused.... you seem to draw levels on RBR or DBD areas. Coz after watching Sam's videos he only takes RBD or DBR as levels. I have been ignoring these levels (RBR/DBD) in the past 5 weeks demoing this method. But I've only been using the Weekly, daily and 1 hr chart. Looks like you guys are getting better results with the 30min and lower.?
Sam does teach rdr and dbd. If I switched time frames on my charts I can make each swap level a rbd or dbr . He uses a 2 min as his primary entry chart trading intra-day. That is his all star entry time chart. If you watch his videos and capture his computer screen and zoom in on it you will find that fast chart on every one.

I just stay on my 30 min. and watch the price action I can see in my minds eye what it would look like on a lot of different time frames. Longer as well as faster.

It is a choice we each make I would love to just trade tops and bottoms , but to me I am. Just a different way.

A sideways , (ranging) market is full of tiny tops and bottoms . But very few will take those trades. Just like my entries off shallow pulbacks , When a strong trend takes off , because of a bit of unexpected news. That is the way I can personally see to enter that trade safely. When price breaks a top or bottom. the first breakout trade is at a swap level and sam goes over breakouts a good deal.

I don't have the time right now to go through all 28 videos to find the proof. but it is in there. Guess I should go back through them and right a index of there contents. It was only on one of the very last did he ever mention about entries being missed by a few pips. Which was my biggest issue.

Cheers Ken

This is the second time I wrote this . Hit a wrong key and it went into cyber space, LOL .. Also have some bandwidth issues, Comcast thinks slowing down the speed at night to do maintenance is good .. One reason i haven't been on as much
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Good Trading To All ; Ken Lee
  • #827
  • Oct 25, 2011 7:37am Oct 25, 2011 7:37am
Quoting stevewide
Kenneth teaches us that sometimes dropping down to the 5m chart helps make more trades profitable. Wait for a 30m level then drop to 5m to move the line for better entry; seems to allow a few more pips profit on countertrend.

See Eu pic; got in late after pinbar formed giving additional confirmation. Kenneth teaches to use all the forex education you can use as additional confirmation.

This is a risky trade since countertrend but worse is the choppy candles instead of a surge to the line and then a surge dropping down from the line. The...
Yep but having a entry at the very top of those pins is the ideal entry. Which this style will help with but you first have to get good at spotting the levels then start trusting your choices..

Ken
Good Trading To All ; Ken Lee
  • #828
  • Oct 25, 2011 7:51am Oct 25, 2011 7:51am
off to a good start
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  • #829
  • Oct 25, 2011 7:54am Oct 25, 2011 7:54am
Quoting Kenneth Lee
Yep but having a entry at the very top of those pins is the ideal entry. Which this style will help with but you first have to get good at spotting the levels then start trusting your choices..

Ken

Not sure what you mean but this pic attached shows where I drew the 30m level adjusted based on the 5m level and if I'd taken the trade there trusting the method I would have made alot 15 more pips. Is this what you mean?

thanks for helping us learn so much good stuff. Steve
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  • #830
  • Oct 25, 2011 8:03am Oct 25, 2011 8:03am
Quoting stevewide
Not sure what you mean but this pic attached shows where I drew the 30m level adjusted based on the 5m level and if I'd taken the trade there trusting the method I would have made alot 15 more pips. Is this what you mean?

thanks for helping us learn so much good stuff. Steve
Sorry missed it just read your comment you waited for the pin bar as confirmation .. Sorry mate
Good Trading To All ; Ken Lee
  • #831
  • Oct 25, 2011 8:19am Oct 25, 2011 8:19am
EU long
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  • #832
  • Oct 25, 2011 8:43am Oct 25, 2011 8:43am
Quoting firstaid
EU long

Hope your tp target was near the top ..
Good Trading To All ; Ken Lee
  • #833
  • Oct 25, 2011 9:02am Oct 25, 2011 9:02am
yes, got out near the top. don't trust big bars into supply......there is usually a retrace afterwards. Plus not feeling well today......just scalping and not holding any trades today


Quoting Kenneth Lee
Hope your tp target was near the top ..
  • #834
  • Oct 25, 2011 9:28am Oct 25, 2011 9:28am
Quoting pixelboy
Hi Kodex - I'll let Kenneth give you his definitive answer, but this is my experience: I've been mostly taking RBD or DBR levels while testing this method, and what I find is with those you often end up taking trades against the trend. I've had really poor results doing this - getting stopped out on 5 out of 6 trades.

When you look at Ken's trades, he often takes second and third touches from zones which started out as RBR levels. So he has nice clear zones AND is trading with the (at least short term) trend.

I need to learn to do this!

PB...
Thanks for your reply PixelBoy. Appreciate it.
  • #835
  • Oct 25, 2011 9:29am Oct 25, 2011 9:29am
i have attached charts w some comments representing my thought process at that time.

my Q are:
1-was i correct assuming this is a swap level?
2-if yes, can i consider that PB as valid retracement to swap level or since this PB broke this level (price went above it)it is NOT valid anymore?

i hope im being clear as i really want to understand my mistake.

thx for any input!!
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  • #836
  • Oct 25, 2011 9:36am Oct 25, 2011 9:36am
Quoting Kenneth Lee
Sam does teach rdr and dbd. If I switched time frames on my charts I can make each swap level a rbd or dbr . He uses a 2 min as his primary entry chart trading intra-day. That is his all star entry time chart. If you watch his videos and capture his computer screen and zoom in on it you will find that fast chart on every one.

I just stay on my 30 min. and watch the price action I can see in my minds eye what it would look like on a lot of different time frames. Longer as well as faster.

It is a choice we each make I would love to just trade...
Cheers Kenneth. Am going to watch all the videos all over again till it gets burnt into my mind. Also finished your ebook. Very good. Will go thru it again.

I'm only looking for 100 pips a week. and looks like i could have made an easy 150 across 3 pairs on the 30min.
Will have to practice more....
  • #837
  • Oct 25, 2011 10:37am Oct 25, 2011 10:37am
Here is the Euro currency daily chart and US dollar Index daily chart if anyone wants to see them. Should give you an idea about the strength of each currency.
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  • #838
  • Oct 25, 2011 12:17pm Oct 25, 2011 12:17pm
It looks like the RBD and DBR are essentially start of new trends.

DBD and RBR are to join the trend.
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  • #839
  • Oct 25, 2011 12:34pm Oct 25, 2011 12:34pm
Wow! Look how the 30m Uj turned exactly on the supply line using the 5m to fine turn it. Was eating lunch and missed it. Not sure I'd touched Uj right now with suspicion of manipulation by Japan expected any time now.
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  • #840
  • Oct 25, 2011 2:29pm Oct 25, 2011 2:29pm
Quoting stevewide
Wow! Look how the 30m Uj turned exactly on the supply line using the 5m to fine turn it. Was eating lunch and missed it. Not sure I'd touched Uj right now with suspicion of manipulation by Japan expected any time now.

yep checkout eur/jpy.
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Good Trading To All ; Ken Lee
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