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B.S. Trading with Kenneth Lee

  • #1,041
  • Nov 6, 2011 12:42pm Nov 6, 2011 12:42pm
Quoting Kenneth Lee
I have 100% confidence in what I show to people how to trade. I overall am profitable . but still have personal issues to overcome, It has never been a failing of a trading system that has held me back but a fear of failure on my own part that has been my biggest adversary.
I know exactly what you are saying. Hardest part for me is to believe in my self. This is where i have failed most of the time and had come to a point where i almost gave up , but still continuing...

After all the fancy indicators/EA/trading systems and head scratching for over 8 months, I found the S/D.

Anyways good luck to you in conquering your adversary.
  • #1,042
  • Nov 6, 2011 1:52pm Nov 6, 2011 1:52pm
wow!!! ok first let me thank you for your extensive explanation.

im sorry if i gave the impression that im not looking for fresh levels but i actually focus on those mostly.
i would like to clarify something about my general thought process.
lets assume we are approaching supply.than i will look for PA at this zone and look for a reversal pattern to confirm that indeed sellers exceeds buyers.
thats what i meant by saying candle pattern.i will look for maybe a engulfing bar,hanging man,final triangle,etc...pls correct me if im wrong bc if i am than im really off and i was lucky to make money this week.
i dont trade with PO for now ,i like to see PA at the zone and will enter either on a PB or by switching to a lower TF to join the move out from the zone.
my first rule is to preserve my capital.i always play with a sl im comftrable with otherwise i pass the trade.sometime i move my SL=BE too early and it cost me by partial profit vs a big one but im learning to improve that part.(just like ur euro trade the other day when u bailed out ur short too early ,i took the same one!!!)

some of my Q's sometimes regards set ups or trades i will not take but im asking just bc im trying to understand and get better with this big term of supply and demand.i believe by asking and getting ur explanation i will only get better so thank you again.
my goal is to fully understand HOW price moves. for now i focus on knowing WHERE it is on the chart and join it as it travels from zone to zone.
i keep reading the posts hoping to absorve as much info as possible.

thx kenneth!!
i be back here when futures open arounfd 6.00pm est.
  • #1,043
  • Nov 6, 2011 2:21pm Nov 6, 2011 2:21pm
Quoting elliotrader
wow!!! ok first let me thank you for your extensive explanation.

im sorry if i gave the impression that im not looking for fresh levels but i actually focus on those mostly.
i would like to clarify something about my general thought process.
lets assume we are approaching supply.than i will look for PA at this zone and look for a reversal pattern to confirm that indeed sellers exceeds buyers.
thats what i meant by saying candle pattern.i will look for maybe a engulfing bar,hanging man,final triangle,etc...pls correct me if im wrong bc...
This trading idea doesn't look for any type of entry candle . we look for supply and demand levels only , maybe some are I am not, I am entering right at the levels.

The best entry is the one at very top of a wick on a reversal pin others would wait to form to take a trade off of. Now I guess you could look for a reversal sign on a 1 hr or 4hr chart , then look for a entry of a faster chart level.

But none of this is part of this trading idea, This what i mean about trying to incorporate different trading ideas into a new trading idea. If a person wants to then that is their choice. I will mention a pin or wick sometimes but then it is because I am late for the real trade. But then I look for S/D to enter.

It is fine we all have to learn. But great your trading conservatively he who losses the least wins long term. the rest will come as long as you survive. The picking of levels is key. keep trying and posting we will get there, but don't worry to much, plus always do a recap and look back end of day to see where price actually did react. Then draw the lines and see the levels because that was the real world and every time you do you will learn. Then once your done with your review look for the next level. One up one down and mark them .

End of day next day see what happened . You will start to see your hitting more than not and that is when you start placing PO's at those levels your picking.

Off to work for me back around 11. eastern. See your just up the road. Cheers Ken
Good Trading To All ; Ken Lee
  • #1,044
  • Nov 7, 2011 2:43am Nov 7, 2011 2:43am
Hi All,

Today the GBP,CHF are moving. Hence found a entry on H4.

What are your thoughts on this one?

I m targeting 200 pips , risking 50 pips.

Edit: i picked the GBP/CHF pair as there was a lot of news for these pairs. Hence i look for pairs which has news for the current day, as it has the highest probability of movement for the given day than any other pair.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf_h4.gif Size: 25 KB
  • #1,045
  • Nov 7, 2011 5:10am Nov 7, 2011 5:10am
Hi Ken,

very nice thread !

Subscribed from now...I love the idea from S/D levels. I will try to post some charts, i have a lot to learn
  • #1,046
  • Nov 7, 2011 5:14am Nov 7, 2011 5:14am
Quoting zamfir
Hi All,

Today the GBP,CHF are moving. Hence found a entry on H4.

What are your thoughts on this one?

I m targeting 200 pips , risking 50 pips.

Edit: i picked the GBP/CHF pair as there was a lot of news for these pairs. Hence i look for pairs which has news for the current day, as it has the highest probability of movement for the given day than any other pair.
Good call zamfir

I have taken the same one a few minutes ago without seeing your post. My target is 100Pips

Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 28 KB
  • #1,047
  • Nov 7, 2011 6:37am Nov 7, 2011 6:37am
update to GBPCHF. oh dear we are in a bit of a "miss". see attached charts.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf_weekly.gif Size: 23 KB
Click to Enlarge Name: gbpchf_h4_update.gif Size: 30 KB
  • #1,048
  • Nov 7, 2011 8:36am Nov 7, 2011 8:36am
EUR/CHF i set a pending sell order, what are you guys thinking about that?

Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 28 KB
  • #1,049
  • Nov 7, 2011 9:59am Nov 7, 2011 9:59am
Quoting bullzeye
EUR/CHF i set a pending sell order, what are you guys thinking about that?

Attachment

looks decent . also based on daily still a strong downtrend. my 2 cents

Should turn it for a bit , but looking a t daily it has been testing this area for a while maybe one to watch close and cover when you feel good about it
Good Trading To All ; Ken Lee
  • #1,050
  • Nov 7, 2011 10:08am Nov 7, 2011 10:08am
40 pip OZ trade
Attached Image (click to enlarge)
Click to Enlarge Name: chart 104.JPG Size: 260 KB
Good Trading To All ; Ken Lee
  • #1,051
  • Nov 7, 2011 10:17am Nov 7, 2011 10:17am
Attachment 5 min view

I don't really trade of the 5 min but , it can really help you see those swap levels which are only one candle .
Attached Image (click to enlarge)
Click to Enlarge Name: chart 106.JPG Size: 235 KB
Good Trading To All ; Ken Lee
  • #1,052
  • Nov 7, 2011 10:34am Nov 7, 2011 10:34am
a loss
Attached Image(s) (click to enlarge)
Click to Enlarge Name: chart 108.JPG Size: 246 KB
Click to Enlarge Name: chart 107.JPG Size: 261 KB
Good Trading To All ; Ken Lee
  • #1,053
  • Nov 7, 2011 10:42am Nov 7, 2011 10:42am
If you look at the 1 hr you can see what the thought process was to take a short here.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 109.JPG Size: 245 KB
Good Trading To All ; Ken Lee
  • #1,054
  • Nov 7, 2011 11:26am Nov 7, 2011 11:26am
Kenneth,

More outstanding S&D trading information & I thank you as I too had the same questions as elliotrader. That clears up alot of doubts I was having as to whether I was trading the zones correctly. Thanks again.
  • #1,055
  • Nov 7, 2011 11:51am Nov 7, 2011 11:51am
Posting some charts(mostly 5m, as i m practicing to pick levels).

Please analyze. Tell me which ones could be wrong and why and if correct , why ?

Thanks for your time and effort.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd_5m.gif Size: 20 KB
Click to Enlarge Name: euraud_30m.gif Size: 22 KB
Click to Enlarge Name: eurgbp_5m.gif Size: 24 KB
Click to Enlarge Name: eurusd_5m.gif Size: 21 KB
Click to Enlarge Name: gbpaud_5m.gif Size: 21 KB
Click to Enlarge Name: nzdcad_1h.gif Size: 24 KB
Click to Enlarge Name: nzdjpy_5m.gif Size: 25 KB
  • #1,056
  • Nov 7, 2011 12:23pm Nov 7, 2011 12:23pm
Quoting zamfir
Posting some charts(mostly 5m, as i m practicing to pick levels).

Please analyze. Tell me which ones could be wrong and why and if correct , why ?

Thanks for your time and effort.

Always look to the left of your levels if your lines align with a low or high to the left it is a second or third touch. and can make what look like a good level a risky one.

Also when you look for level look for the higher lows or lower highs as they are the best. even when looking at drop,base,drop or rise,base.rise, the entry will be a lower high or higher low.

just as I showed on those two trade I posted.

A lot of your charts look real good . But one or two look like they are not fresh and even are trying to break the levels. maybe re post your charts looking at a 30 but leave your marked levels so we can see what they look like on the higher time frame.

Maybe your levels are better than they look to me . I am not perfect. I just don't have the time to build chart right now..

Thanks ken
Good Trading To All ; Ken Lee
  • #1,057
  • Nov 7, 2011 12:26pm Nov 7, 2011 12:26pm
concern
Attached Image (click to enlarge)
Click to Enlarge Name: chart 28.JPG Size: 75 KB
Good Trading To All ; Ken Lee
  • #1,058
  • Nov 7, 2011 12:42pm Nov 7, 2011 12:42pm
30 m charts uploaded.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd_30m.gif Size: 20 KB
Click to Enlarge Name: euraud_30m.gif Size: 22 KB
Click to Enlarge Name: eurgbp_30m.gif Size: 26 KB
Click to Enlarge Name: eurusd_30m.gif Size: 23 KB
Click to Enlarge Name: nzdjpy_30m.gif Size: 18 KB
  • #1,059
  • Nov 7, 2011 1:18pm Nov 7, 2011 1:18pm
Here is a 4 hour chart of the aud usd.

Is price closer to higher time frame supply or demand?

what is the higher probability: to go long or short?

(this does not mean the 5 mn level is not gonna work)
Attached Image (click to enlarge)
Click to Enlarge Name: Aud Usd 4h.jpg Size: 39 KB
  • #1,060
  • Nov 7, 2011 2:01pm Nov 7, 2011 2:01pm
Quoting Kenneth Lee
looks decent . also based on daily still a strong downtrend. my 2 cents

Should turn it for a bit , but looking a t daily it has been testing this area for a while maybe one to watch close and cover when you feel good about it
my PO was triggered, i have a second one on the upside of the supply...my target 100Pips

Attached Image (click to enlarge)
Click to Enlarge Name: eurchf.gif Size: 29 KB
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