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Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: B.S. Trading with Kenneth Lee
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B.S. Trading with Kenneth Lee

kind of annoyed right now, I was in EU and AU shorts from m15 supply, moved my stop to BE when they hit 30 pips or so, got taken out at BE then price drops and I'm sitting here looking at 130 pips that I could have had.

Ken, or anyone else. What is your policy on moving stops to BE?
Quoting Osman
Hey Rufus,

Thanks for your answers mate, looking at the EU trade you took, i thought we would take the levels based on the body of the bar not the wicks, in that trade we would have missed the trade by taking just the body... do you take the wicks in order to place a PO ?

Thanks !!
To each his own...I take the wicks into consideration. On a faster time frame wicks become bodies. For me this usually means that I will have a bigger stop.
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Illegitimi non carborundum - Noli pati a scelestis opprimi.
Quoting Ultimatus
kind of annoyed right now, I was in EU and AU shorts from m15 supply, moved my stop to BE when they hit 30 pips or so, got taken out at BE then price drops and I'm sitting here looking at 130 pips that I could have had.

Ken, or anyone else. What is your policy on moving stops to BE?
I use BE when I can. My favorite though is to manually trail price 5-7 pips away from swing highs for shorts, swing lows for longs. The problem with this is that my time in front of the computer is often limited.

With pending orders of course we don't have this luxury. So it is primarily targets and the stop.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Hi guys,

This was a trade I was looking aton GU 15mins this morning, watching Samīs webinars he said he didnt liked levels with large wicks/shadows/tails.. what do you guys think about it ?

I passed on this trade due to this, do you guys pass on levels with large tails ?

Thanks !!
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Trade Smart
short OZ at m5 supply. I took it when UCAD at good demand and NU at supply

closed at the last point seen on my chart.
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I love PIE and RTP
Quoting Osman
Hi guys,

This was a trade I was looking aton GU 15mins this morning, watching Samīs webinars he said he didnt liked levels with large wicks/shadows/tails.. what do you guys think about it ?

I passed on this trade due to this, do you guys pass on levels with large tails ?

Thanks !!
I take the whole chart into consideration when looking at large tails. Also look at the time frame where the tail exists. It could be showing you an area of massive supply or demand. Or in the case of the Yen at times, intervention. I will still take the positions but also in respect of the tail.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Quoting Rufus
I take the whole chart into consideration when looking at large tails. Also look at the time frame where the tail exists. It could be showing you an area of massive supply or demand. Or in the case of the Yen at times, intervention. I will still take the positions but also in respect of the tail.

I have tried to make it a personal policy to try not to over think these things. The level is either there or it is not. Over thinking tends to talk your mind out of it at times. A great book on this phenomena is "Blink" by Malcomb Gladwell
Illegitimi non carborundum - Noli pati a scelestis opprimi.
Quoting Osman
Hi guys,

This was a trade I was looking aton GU 15mins this morning, watching Samīs webinars he said he didnt liked levels with large wicks/shadows/tails.. what do you guys think about it ?

I passed on this trade due to this, do you guys pass on levels with large tails ?

Thanks !!
Hi Osman,
As Rufus said look on whole picture.Wicks are ok they are telling some stories.Anyway I am sure you know that.
P.S. S's videos are very good but.......

Happy trading to everyone.
FX.
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Quoting hcristea
This is a GOLD demo trade.
Pending Order was placed yesterday and today I saw it activated.

I've identified the supply level from H4 & H1 and then droped down to M30 to fine tune it. That huge BEEB price action tells about the big supply there.

My final target is the demand zone from H4 (2nd chart) but lets see how price behaves at the intermediary demand levels. They are some and might reject price.

The level is the yellow zone. The PO was below it.
Now the SL is at BE and lets see how it goes.

P.S. @Lou thanks for the info ...
Sell Trade closed at 1673. Total profit is almost 7 times initial risk which IMO it's a great reward. This might go down and hit the initial target but 7R is enough for me.

P.S. The gap on the Gold chart is only on this FxPro demo account. Most probably the rest of brokers didnt show this gap.
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Quoting Kenneth Lee
The pdf is Below ,, Sorry not the highest quality but should be enough to start a dialogue.
respect Kenneth. great job
Not much movement today in forex, guess because of holidays.

managed to get one trade 30 pips
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Price is closing in to a demand level on H4 which is relatively fresh because the previous demand is the 1st touch of a swap level from Jan 13.

What I like is the strength of the bearish move straight into the demand. Also it has been awhile since price moved away from this level.

Kenneth, what do you think about that level I've highlighted on the chart? Is it fresh in your opinion?
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Quoting hcristea
Price is closing in to a demand level on H4 which is relatively fresh because the previous demand is the 1st touch of a swap level from Jan 13.

What I like is the strength of the bearish move straight into the demand. Also it has been awhile since price moved away from this level.

Kenneth, what do you think about that level I've highlighted on the chart? Is it fresh in your opinion?
level looks good because , you have D-B-R on 3rd oct. Also note that price is falling into the level absorbing a lot of supply. So when it hits your level, very high probability that price will shoot up.

Get ready to make some Good luck!!
Quoting hcristea
Price is closing in to a demand level on H4 which is relatively fresh because the previous demand is the 1st touch of a swap level from Jan 13.

What I like is the strength of the bearish move straight into the demand. Also it has been awhile since price moved away from this level.

Kenneth, what do you think about that level I've highlighted on the chart? Is it fresh in your opinion?
nice, that is a good level, DBR, origin, fresh, strong rally up price from there, and price haven't come back there again....
but as I see EU recently, it will cause a little bounce to go down further again.
good luck with that set up zones buddy...
happy trading
I love PIE and RTP
http://www.forexfactory.com/%3Ca%20h.../gbpchfmh4.gifI entered the trade as shown in the attached chart. I think it is self explanatory. The single red line i have included as an area to take partial profits if i see any difficulty penetrating that area, as to the left it shows a bit of sideways trading. I use trailing stops, as soon as practically possible in the event i get stopped out, at least its a free trade or at least a handful of pips!!

Any comments?

http://img638.imageshack.us/img638/9626/gbpchfmh4.gif

Uploaded with ImageShack.us
todays OZ trade
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Good Trading To All ; Ken Lee
Osman & Ultimatus,

For sure the higher time frames must be considered. I start with the Weekly, then Daily, 4H & 1H. Now, what is the trend? Within these higher tf's is the answer. Next drill down to a lower tf such as the 15M & see what the zones look like. I trade the 15M as it works better for me, but as you have noticed Ken like the 30M. Do what works for you.

My success rate @ counter trend trading is very poor, but I have caught some good ones. Not something I attempt very often. There are better ways.

Normally I do not trade during the holidays, but today I traded the E/$ & caught two good moves from S&D Zones. The market is slow today, but you still can find some worthwhile moves.

This is not trading advice, but just what works for me. I must admit for the yr I am up a small amount, but for the last half of the yr I have not traded fulltime as I have been somewhat busy with family matters. I am a fulltime trader, but had to scale back somewhat. Back fulltime in 2012.

I do not know you guys level of trading experience, but you are no doubt on the correct trading forum. Study what Ken & the other experienced traders are sharing & the pips should follow.

Just my views, hope they help.
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Quoting acetrader
Osman & Ultimatus,

For sure the higher time frames must be considered. I start with the Weekly, then Daily, 4H & 1H. Now, what is the trend? Within these higher tf's is the answer. Next drill down to a lower tf such as the 15M & see what the zones look like. I trade the 15M as it works better for me, but as you have noticed Ken like the 30M. Do what works for you.

My success rate @ counter trend trading is very poor, but I have caught some good ones. Not something I attempt very often. There are better ways.

Normally I do not trade during...

Acetrader,

I am trying to trade full time as well. I am considering switching from the spot market to the futures market as this is what Seiden trades for short-term day trades. I was wondering if you trade only the spot market or if you've dabbled in the futures market as well. Give me your thoughts if you don't mind. I am looking for any advice from people's opinions that I respect. Thanks in advance.
FTimeforex,

Tks for the kind words. I have no experience with the currency futures, but some says it is better than forex. I have heard the S&D Zones are better defined, but I not sure about that. Maybe there is a trader here than can better answer your questions. Currency futures has been on my mind over the last several months, especially since Sam seems to favor that market. I wish you the best in your quest to trade that market.

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Hi guys, can somebody (K.Lee) elobare more on how to consider the penetration of the level.50%- to wait could go deeper,or else,I missing the trades waiting that it woul go up/down higher/lower in the level and dont have or understand the rule based approch Thank you for the great posts
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