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B.S. Trading with Kenneth Lee

  • #1,061
  • Nov 7, 2011 2:14pm Nov 7, 2011 2:14pm
Quoting Samikaze
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)
the 4H demand is not fresh i am looking for the 1.056 area to sell

Attached Image (click to enlarge)
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  • #1,062
  • Nov 7, 2011 10:13pm Nov 7, 2011 10:13pm
update to the 5M charts.

Woke up this morning and I can't believe my eyes. ALL of them worked!!!

I even took a trade on the audusd for 40 pips...yay!!!

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  • #1,063
  • Nov 7, 2011 11:08pm Nov 7, 2011 11:08pm
hi, i hope to join you guys on this wild supply and demand NO B.S. journey. I believe that trading is always a learning process. and i will always be a willing student.

i have live accounts with fxcm micro and oanda. with your help i hope to grow them steadily.

thanks
  • #1,064
  • Nov 8, 2011 2:19am Nov 8, 2011 2:19am
Quoting zamfir
update to the 5M charts.

Woke up this morning and I can't believe my eyes. ALL of them worked!!!

I even took a trade on the audusd for 40 pips...yay!!!

well done zamfir
  • #1,065
  • Nov 8, 2011 2:44am Nov 8, 2011 2:44am
just made my first 2 supply and demand demo trades... attached are my charts, 33 pip profit. but i am a newby so i may have taken my profits a little early?

please comment on anything, i would appreciate to learn from you guys. thanks
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usdchf nov8.jpg Size: 110 KB
  • #1,066
  • Nov 8, 2011 4:45am Nov 8, 2011 4:45am
Quoting Kenneth Lee
a loss
Ken, i'm aware that you have an aversion to showing losers and that I may have rattled your cage once or twice on the last thread by putting them up but - and this is purely my take on it - I think it's very healthy.

If traders following you only see winner after winner, they may take away a warped perception of what is and is not achievable with your approach and in the markets more generally. It helps to promote the idea that losing is all part of winning in trading and that you have to learn to deal with them somehow. What it'll also do it either demonstrate that they can happen, evne when all the ducks are in a row but also that they can happen when mistakes are made and people will see them and hopefully keep in mind to avoid the same trap. You can save people a lot of heartache and money that way.

I'm glad you had the balls to show your error and I personally would welcome more.
  • #1,067
  • Nov 8, 2011 4:56am Nov 8, 2011 4:56am
In line with what trotty have said.

I believe that I as a newby would also learn on the mistakes people make, especially if i could analyze why it went wrong.

I would like to also post some losing trades when I would have them and let others comment freely.

i am in the process of reading the whole thread, and i already find it a goldmine of information.

much thanks. and happy trading to you all.
  • #1,068
  • Nov 8, 2011 5:46am Nov 8, 2011 5:46am
Hey folks just wanted to say hi and thanks to all the contributors. This is an excellent thread and i will be following and hopefully making a meaningful contribution as i progress!
Cheers,
Neil.
Progress, not perfection
  • #1,069
  • Nov 8, 2011 6:01am Nov 8, 2011 6:01am
Quoting bullzeye
my PO was triggered, i have a second one on the upside of the supply...my target 100Pips

Attachment
my target was missed about 16 Pips trade was closed via trailingstop +55 Pips

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  • #1,070
  • Nov 8, 2011 7:00am Nov 8, 2011 7:00am
Quoting bullzeye
my target was missed about 16 Pips trade was closed via trailingstop +55 Pips

Attachment
what the difference time settings on platforms make. I have a spinning top right where that touched and zoomed into a 30 min a perfect level. But hey a 55 gains is great too.

Way to go..
Good Trading To All ; Ken Lee
  • #1,071
  • Nov 8, 2011 7:06am Nov 8, 2011 7:06am
Quoting Trotty
Ken, i'm aware that you have an aversion to showing losers and that I may have rattled your cage once or twice on the last thread by putting them up but - and this is purely my take on it - I think it's very healthy.

If traders following you only see winner after winner, they may take away a warped perception of what is and is not achievable with your approach and in the markets more generally. It helps to promote the idea that losing is all part of winning in trading and that you have to learn to deal with them somehow. What it'll also do it...
I agree but sometimes by error or just human nature people focus on the bad information , instead of the good and can find themselves looking at why a trade would fail. I would rather have them look for the correct entries.

Not every chart i post is a trade just showing the possibilities and the setups that did happen throughout the day. Basically doing the homework I try and get everyone to do. To look back and see how the idea your trying to trade worked or didn't.

Thanks for your advice and glad to see you stop by. Hope your trades are doing well. Please feel free to contribute if you feel like it.

Ken
Good Trading To All ; Ken Lee
  • #1,072
  • Nov 8, 2011 7:11am Nov 8, 2011 7:11am
Quoting bullzeye
my target was missed about 16 Pips trade was closed via trailingstop +55 Pips

Attachment
charts
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Good Trading To All ; Ken Lee
  • #1,073
  • Nov 8, 2011 7:23am Nov 8, 2011 7:23am
Quoting Kenneth Lee
charts
thanks Ken, much appreciate

I see clearly now a perfect exit area. I hope to learn a lot more from you
  • #1,074
  • Nov 8, 2011 7:34am Nov 8, 2011 7:34am
Quoting bullzeye
thanks Ken, much appreciate

I see clearly now a perfect exit area. I hope to learn a lot more from you

Your trade was excellent , Just your chart didn't show it as clear. I look for those doji's and spinning tops for swap levels. It wasn't on yours. might bee my time is wrong , . The key is you took the trade ,
Good Trading To All ; Ken Lee
  • #1,075
  • Nov 8, 2011 8:51am Nov 8, 2011 8:51am
Quoting Kenneth Lee
I agree but sometimes by error or just human nature people focus on the bad information , instead of the good and can find themselves looking at why a trade would fail. I would rather have them look for the correct entries.

Not every chart i post is a trade just showing the possibilities and the setups that did happen throughout the day. Basically doing the homework I try and get everyone to do. To look back and see how the idea your trying to trade worked or didn't.

Thanks for your advice and glad to see you stop by. Hope your trades...
Not advice mate, I know all too well you don't need that when it comes to organising a class thread

Just some food for thought maybe, a different look at things. I learn a great deal from looking where folk have gone wrong. Maybe not as much as where they have got it bang on but enough to make it worth me paying attention to. I analyse my own losing trades to death.

Anyway, all's well thanks and I have been following here. I am finding i'm using S+D in my trading more and more as time moves on so I will be sure to contribute at some point. I don't expect a free ride!
  • #1,076
  • Nov 8, 2011 10:20am Nov 8, 2011 10:20am
Hi all,
I m trading supply & demand as well. But I got a problem. I m doing analysis before doing any trades starting from higher TFs to lower TFs and more specific Daily,H4,H1,M30,M15,M5... the point is where you stop? Because when you overanalyse a graph then supply demand is EVERYWHERE!!!

Also I like trading lower TFs like 15M or lower but at these levels I have notices that demand&supply levels break very easily... is it just my idea?

Any thoughts?
  • #1,077
  • Nov 8, 2011 10:32am Nov 8, 2011 10:32am
Just came from work. Today morning before i left for office i took a trade on NZDJPY on the 5m.

attached are the results.

Note: all my trades are live.

I suggest all newbies, that once you get hang of S/D levels, you start small with live account. Demo can only take you so far.
Attached Image (click to enlarge)
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  • #1,078
  • Nov 8, 2011 10:53am Nov 8, 2011 10:53am
Quoting athan00
Hi all,
I m trading supply & demand as well. But I got a problem. I m doing analysis before doing any trades starting from higher TFs to lower TFs and more specific Daily,H4,H1,M30,M15,M5... the point is where you stop? Because when you overanalyse a graph then supply demand is EVERYWHERE!!!

Also I like trading lower TFs like 15M or lower but at these levels I have notices that demand&supply levels break very easily... is it just my idea?

Any thoughts?

You answered your question , There are levels everywhere. But the key is when they all align. that would be the perfect trade, Normally. Looking at different times is great. But it should be a task looking for a least risk entry based on your greater time frame charts.

If price action is slow then we can look at a faster chart for scalping opportunities, But this is a different function separate from the multi time frame analysis.

I would still recommend looking for levels on a slower chart even if your taking the entries off a fast one. maybe a time frame or two up , Like I look for areas on a 30 minute then if it is very slow may look at a 5 min for a entry. But use the 30 min for current trend, I say current trend a good deal . to me that is the trend that price action is showing me right now . it maybe be completely different than a long term trend.

like right now i would look for longs as i see higher lows. since this morning.

I also like the swap levels. They are not always clear on a given chart so some investigation is sometimes required. WE have all heard this a million times support becomes resistance and visa versa. With S/D we now just know why, Plus we can now find a level to trade form without waiting for candles and the such, A plus in my opinion.

A start when looking for a swap level is a straight line. Showing many turns both up and down . then if a level isn't visible on the current chart start looking the longer the chart the bigger the possible trade.
Good Trading To All ; Ken Lee
  • #1,079
  • Nov 8, 2011 10:55am Nov 8, 2011 10:55am
why didn't you exit to the red area? I suppose it was too close.
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  • #1,080
  • Nov 8, 2011 11:01am Nov 8, 2011 11:01am
Quoting athan00
why didn't you exit to the red area? I suppose it was too close.
lol , that red area didn't even exist when i took the trade. I just saw the next supply level when i took the trade and set my target there, which was about 20 pips.

Note this was a Pending order. I usually monitor my trades. But i have to start to learn to set POs other i won't get anywhere with monitoring trades all day + the day job..
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