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B.S. Trading with Kenneth Lee

  • #1,401
  • Nov 28, 2011 10:46pm Nov 28, 2011 10:46pm
Quoting anthony_tzw
[font=Comic Sans MS]May I ask you guys some questions?

Which broker you guys prefer the most and 4decimals price broker is better or 5decimals price broker is better?

I'm using InstaFOREX, so far so good but the commission is quite high. It's a 4decimals price broker.

I also have some demo account in 5decimals price broker and what I found is the 4decimals price chart and 5decimals price chart have some different.

Sometimes I have spot a level in 4decimals price chart, but the level in 5decimals price chart is not that great as the...
I suggest you look at Oanda. You can adjust your trade size from 1 cent and up per pip. This gives you another way to manage your risk besides the stop loss.
  • #1,402
  • Nov 29, 2011 2:30am Nov 29, 2011 2:30am
Quoting Lou
I suggest you look at Oanda. You can adjust your trade size from 1 cent and up per pip. This gives you another way to manage your risk besides the stop loss.
Thanks Lou for your suggestion I'll take Oanda into consideration
  • #1,403
  • Nov 29, 2011 4:07am Nov 29, 2011 4:07am
Quoting zamfir
missed a good entry on usd/chf. Anyone caught it?
hi zamfir,

yes, i caught this one but a lil too late, so my profit wasn't as big as expected ...SL on BE

http://www.forexfactory.com/showthre...98#post5172698
  • #1,404
  • Nov 29, 2011 4:20am Nov 29, 2011 4:20am
my sell PO order was triggered on G/U

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  • #1,405
  • Nov 29, 2011 4:48am Nov 29, 2011 4:48am
Anybody bought that swap? 1.3317? Lovely run of 10 time the risk right there

Price is approaching a supply level. I have a sell PO but it wasn't triggered. The trend is bullish imo (HH-HL-HH...) so if the sell works I will TP early on the next demand level.
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  • #1,406
  • Edited 6:10am Nov 29, 2011 5:43am | Edited 6:10am
I took aud/usd @9932...basicly same trade as eur/usd....40pip profit...100 left on the table...I must work on confidence/patience of trades working out.. I see so much potential in this s/d zones trading...but there's just so much negative conditioning in me that keeps me making bad decisions.
  • #1,407
  • Nov 29, 2011 7:10am Nov 29, 2011 7:10am
thevortex, first thing is to identify what is the reason for that negative conditioning, then find out a way to overcome that barrier. Easy right? No, but is simple as that.
  • #1,408
  • Nov 29, 2011 10:33am Nov 29, 2011 10:33am
Quoting isold
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
I would like to suggest a strategy I use called "Scaling In". You can put on a partial position before you reach the zone, add more when it enters the zone and add again when you get near the end of the zone.

For example, say you want to risk $300, I would risk $100 on the 1st position, $100 on the second position and $100 on the 3rd position. Stops are all in the same place so 2nd position is bigger than the 1st and 3rd is bigger than the second because stops are closer to entry.

Lets say you have a zone that is 30 pips wide, you enter 1st position 10 pips before reaching the zone and put a stop 10 pips on the other side of the zone and you are doing 10¢ per pip that means you are risking $5 per lot so for $100 risk you put on 20 lots.

Now I like to divide the initial 50 pip risk by 3 and enter on the 1/3, and 2/3 points so the second position would be entered at 7 pips inside the zone risking 33 pips to the stop that means you are risking $3.30 per lot so for $100 risk you put on 33 lots.

For the 3rd position, enter 23 pips inside the zone, risking 17 pips to the stop that means you are risking $1.70 per lot so for $100 risk you put on 59 lots.

Lets look at the pluses and minuses of doing this.

1. You put on a small position early so you don't miss the move.
2. If you put on the 2nd and 3rd positions, you get a much better average price and much larger size (without risking more).

The only real downside is when the trade turns early and you put on a full position there you will make more.
  • #1,409
  • Nov 29, 2011 12:50pm Nov 29, 2011 12:50pm
Quoting BHReach
I would like to suggest a strategy I use called "Scaling In". You can put on a partial position before you reach the zone, add more when it enters the zone and add again when you get near the end of the zone.
Don't know why i didn't think of this earlier . Thanks for the input.
  • #1,410
  • Nov 29, 2011 2:05pm Nov 29, 2011 2:05pm
Quoting bullzeye
my sell PO order was triggered on G/U

Attachment
this was a good one +60 Pips
  • #1,411
  • Nov 29, 2011 2:10pm Nov 29, 2011 2:10pm
i made two trades today on E/U: the first one was not based on S/D but just after the beautiful pinbar...unfortunately a looser -30. The second one with an PO order in the 5m demand zone +60Pips...What we learn from it? Trade only the S/D stuff

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  • #1,412
  • Nov 29, 2011 2:52pm Nov 29, 2011 2:52pm
ohh dear...look this beautiful one on USD/CHF m30

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  • #1,413
  • Nov 30, 2011 8:36am Nov 30, 2011 8:36am
E/U cherry picking

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  • #1,414
  • Nov 30, 2011 8:37am Nov 30, 2011 8:37am
G/U also...

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  • #1,415
  • Nov 30, 2011 9:20am Nov 30, 2011 9:20am
Quoting bullzeye
G/U also...

Attachment
closed on BE
  • #1,416
  • Nov 30, 2011 9:21am Nov 30, 2011 9:21am
Quoting bullzeye
E/U cherry picking

Attachment
hit my TG + 60Pips
  • #1,417
  • Nov 30, 2011 11:24am Nov 30, 2011 11:24am
Nice Trading ,,,
Good Trading To All ; Ken Lee
  • #1,418
  • Nov 30, 2011 1:23pm Nov 30, 2011 1:23pm
Quoting Kenneth Lee
Nice Trading ,,,
Hey Ken,

one question: how big is your SL on m30 tf? Or is it dynamic-last high/low?

I use a hard stop of 30 Pips, but get often stoped out before the price go in the right direction

Thanks
  • #1,419
  • Nov 30, 2011 3:50pm Nov 30, 2011 3:50pm
I
Quoting bullzeye
Hey Ken,

one question: how big is your SL on m30 tf? Or is it dynamic-last high/low?

I use a hard stop of 30 Pips, but get often stoped out before the price go in the right direction

Thanks
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,420
  • Nov 30, 2011 4:00pm Nov 30, 2011 4:00pm
I
Quoting bullzeye
Hey Ken,

one question: how big is your SL on m30 tf? Or is it dynamic-last high/low?

I use a hard stop of 30 Pips, but get often stoped out before the price go in the right direction

Thanks
I think Ken covers this in his PDF. Stop is placed onbthe opposite side of the zone. I shoot for 7 or 10 pips. So if the zone is 30 pips wide my stop will be about 40. But still take into consideration other factors. Are you close to 00 if so maybe place it past there. Or maybe there is another swing high or low near your stop, in which case maybe place it beyond there. The point is, your stop should be placed technically so if price crosses the stop yopu know that the zone is no longer valid.

Hope this is some help

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
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