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B.S. Trading with Kenneth Lee

  • #1,161
  • Nov 14, 2011 3:12pm Nov 14, 2011 3:12pm
Cable and USDCAD entries. Cable had been ranging

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USDCAD.....should have just left it to hit my TP, oh well.

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Firmly believe the best entries are when price returns to a supply or demand level the first time. I also consider the daily average pip range, looking at cable for today it has traded from hi to low 211 pips and the daily average is 161 so taking a long entry now I dont consider to be too risky. Similar with AUDUSD, Hi to Lo 180, daily avg 188, similar story on EURUSD, but I could and have been wrong more times than I care to remember in this game.
  • #1,162
  • Nov 14, 2011 3:29pm Nov 14, 2011 3:29pm
...EURUSD, EURCAD and CADJPY would have been more fantastic entries today, but I didn't have the balls or account to take these ones
  • #1,163
  • Nov 14, 2011 3:30pm Nov 14, 2011 3:30pm
closed for few pips down...
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TRADING IS SIMPLE BUT NOT EAZY
  • #1,164
  • Nov 14, 2011 3:47pm Nov 14, 2011 3:47pm
Quoting bullzeye
yes Ken, i was looking for that one, but my PO was not hit (see chart)...now i looking for demand levels with two orders

Attachment
Second demand level up not good as price has already dipped into it and hovered there for a while before continuing.
  • #1,165
  • Nov 14, 2011 11:02pm Nov 14, 2011 11:02pm
went short at 11:14 eastern after work at 11, on OZ and closed for 30 16 min later,

entry 1.0197 exit 1.0167

The 30 min was still sowing lower highs and had came off a level above a level at 1.0227

I didn't even blink at a 1 min chart but look at it and level 1.0198

Look at it on a 5 min and 15 and a 30 min. You will see a straight line. I look for entries at these straight lines. I will look for a s/d level near them
Good Trading To All ; Ken Lee
  • #1,166
  • Nov 14, 2011 11:03pm Nov 14, 2011 11:03pm
didn't post a chart because I feel you need to be able to find these levels on your own, to learn how to find them ..
Good Trading To All ; Ken Lee
  • #1,167
  • Nov 15, 2011 3:24am Nov 15, 2011 3:24am

I am look at these zones.. any view about it's strength?? just confuse abt present usdcad zone it seems weaker to me if i look left to some candles.


Sorry for underline

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  • #1,168
  • Nov 15, 2011 3:58am Nov 15, 2011 3:58am
[quote=Kenneth Lee;5133170]went short at 11:14 eastern after work at 11, on OZ and closed for 30 16 min later,

entry 1.0197 exit 1.0167

The 30 min was still sowing lower highs and had came off a level above a level at 1.0227

I didn't even blink at a 1 min chart but look at it and level 1.0198

Look at it on a 5 min and 15 and a 30 min. You will see a straight line. I look for entries at these straight lines. I will look for a s/d level near them

Shame I fell asleep would have jumped that again. ..
Good Trading To All ; Ken Lee
  • #1,169
  • Nov 15, 2011 4:05am Nov 15, 2011 4:05am
[quote=Kenneth Lee;5133861]
Quoting Kenneth Lee
went short at 11:14 eastern after work at 11, on OZ and closed for 30 16 min later,

entry 1.0197 exit 1.0167

The 30 min was still sowing lower highs and had came off a level above a level at 1.0227

I didn't even blink at a 1 min chart but look at it and level 1.0198

Look at it on a 5 min and 15 and a 30 min. You will see a straight line. I look for entries at these straight lines. I will look for a s/d level near them

Shame I fell asleep would have jumped that again. .....
lol Ken, you sleep in office?
  • #1,170
  • Nov 15, 2011 4:11am Nov 15, 2011 4:11am
Quoting Pip26

I am look at these zones.. any view about it's strength?? just confuse abt present usdcad zone it seems weaker to me if i look left to some candles.





Sorry for underline



Levels look good. Also watch the Dollar index. I placed PO's before leaving for office. Can't check the status.

if usd goes down, aud and eur should go up. levels on usd/cad and eur/usd , aud/usd seem to confirm this.
  • #1,171
  • Nov 15, 2011 4:11am Nov 15, 2011 4:11am
when I took it the first time it wasn't a level just a descending triangle that you can see even on a 30 min chart. The leading edge of the triangle had come off a level,1.0226 which was a level above a level 1.0206

But after the 40 pip drop it had formed a new one with the required 2:1 drop

Then you can see it tried to retrace towards it and pushed down this shows us that it is still looking short then it finally retest that 198 line. which is still fresh

I call a level fresh when price has headed toward that level but has been turned away either by another level or in this case just struggled to get back up to it. I am sure on a fast chart there was some type of level where it turned back at 1.0180 before it made it all the way to 198. But if I see price turn in my intended direction like that did before , Then when it makes it to my level of choice it is of great interest to me.
Good Trading To All ; Ken Lee
  • #1,172
  • Nov 15, 2011 4:14am Nov 15, 2011 4:14am
[quote=zamfir;5133887]
Quoting Kenneth Lee

lol Ken, you sleep in office?
Nope on couch . I am home
it is 4:30 am here
Good Trading To All ; Ken Lee
  • #1,173
  • Nov 15, 2011 4:16am Nov 15, 2011 4:16am
[quote=Kenneth Lee;5133930]
Quoting zamfir

Nope on couch . I am home
it is 4:30 am here
How long do you trade when you come home from work?. I m awake till 1 am, then i wake up @ 9 am.
  • #1,174
  • Nov 15, 2011 4:28am Nov 15, 2011 4:28am
Quoting zamfir
Levels look good. Also watch the Dollar index. I placed PO's before leaving for office. Can't check the status.

if usd goes down, aud and eur should go up. levels on usd/cad and eur/usd , aud/usd seem to confirm this.
UsdIx still has up room
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  • #1,175
  • Nov 15, 2011 4:32am Nov 15, 2011 4:32am
here is a chart on all that OZ stuff
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Good Trading To All ; Ken Lee
  • #1,176
  • Nov 15, 2011 4:34am Nov 15, 2011 4:34am
[quote=zamfir;5133937]
Quoting Kenneth Lee

How long do you trade when you come home from work?. I m awake till 1 am, then i wake up @ 9 am.
Depends on how well I can focus some times stay up all night. But then I miss the U.S session
Good Trading To All ; Ken Lee
  • #1,177
  • Nov 15, 2011 4:39am Nov 15, 2011 4:39am
Quoting Kenneth Lee
here is a chart on all that OZ stuff
If you were trading during Australia the the entry at the top of the triangle was very nice just shy of a level at 1.0228
Good Trading To All ; Ken Lee
  • #1,178
  • Nov 15, 2011 4:42am Nov 15, 2011 4:42am


Back to the couch ...
Good Trading To All ; Ken Lee
  • #1,179
  • Nov 15, 2011 8:33am Nov 15, 2011 8:33am
Good trades today. Missed a few.

Sometimes you get lazy to set PO when scanning many currencies.

Best was GBPCAD. Entered yesterday. Hit my TP of 100 pips.
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  • #1,180
  • Nov 15, 2011 8:46am Nov 15, 2011 8:46am
Quoting zamfir
Good trades today. Missed a few.

Sometimes you get lazy to set PO when scanning many currencies.

Best was GBPCAD. Entered yesterday. Hit my TP of 100 pips.
nice setups zamfir.. My usdcad short entered from upper zone. eurusd missed the buy by 5 pips i overall good today.
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