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B.S. Trading with Kenneth Lee

  • #1,441
  • Dec 1, 2011 12:28pm Dec 1, 2011 12:28pm
I got it, thanks a lot to Zamfir and Kenneth. I understand more now.

So, Kenneth, you won't consider to mark it as base if it's only a single candle (not doji & spinning top) before the unbalance, am I right?

And the other question is, if there's two supply level very near to each other which we call "level on top a level", where's the stop loss limit? The upper supply level or the lower supply level?

Thanks a lot, you guys really help me a lot
  • #1,442
  • Dec 1, 2011 12:50pm Dec 1, 2011 12:50pm
Quoting zamfir
Some action on the chf pairs.

Anythony , see chart to clear your doubts regarding bases.
hi zamfir, thank you. I just realize that DBD or RBR is good if we in the same direction with the trend.
I love PIE and RTP
  • #1,443
  • Dec 1, 2011 1:15pm Dec 1, 2011 1:15pm
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  • #1,444
  • Dec 1, 2011 1:16pm Dec 1, 2011 1:16pm
Quoting Good Lookin
I'll show you why i've chosen this as a base. This is what the chart looked like when i put in the PO.

Attachment

1. Candle wics are just as much of a movement of price as the body is so when looking at a base i always take them into account. Wic or body, someones order has been filled. It's just much better to use bodies because it keeps your profit targets in reach and thats partly why i used that brown body as my level top.

2. Price moved to 1.34682 and then shot up. 1.34682 was the origin of the move and since orders were...
Good Lookin, actually, I do not really understand what are you trying to tell maybe my English is poor But I guess and try my best to understand what you wrote. However, thank you so much for your explanation
  • #1,445
  • Edited 2:32pm Dec 1, 2011 2:19pm | Edited 2:32pm
Quoting anthony_tzw
Good Lookin, actually, I do not really understand what are you trying to tell maybe my English is poor But I guess and try my best to understand what you wrote. However, thank you so much for your explanation
Sorry, i may not have been clear. I'm gonna try to explain it here.

I'm talking about the basics only because it helps me explain it better so i hope not to offend you!


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A candle represents the price movement of a pair over a period of time.
In this case its 5 minutes.
The body of a candle is the movement inbetween the open and the close.
The wic of a bullish candle is the movement of price above the close and below the open.
The wic of a bearish candle is the movement of price below the close and above the open.

Because we all have been subject to the same ovewhelming body of trading information that works as much as it doesn't work we all tend to place separate values on a candle body and candle wic.
They both measure price movement but their 1 difference is only in how they're defined.
If you look at a candle you can't tell how long price stayed at the wic or the body unless you go to a lower timeframe.
So when I define a base I accept wics because to me they're no different than bodies.
My own testing and live results with this have been successful.

EDIT: I have more to say but i'm at work so i'll just have to see if i can squeeze in some time when i get home
  • #1,446
  • Dec 1, 2011 8:53pm Dec 1, 2011 8:53pm
Quoting anthony_tzw
I got it, thanks a lot to Zamfir and Kenneth. I understand more now.

So, Kenneth, you won't consider to mark it as base if it's only a single candle (not doji & spinning top) before the unbalance, am I right?

And the other question is, if there's two supply level very near to each other which we call "level on top a level", where's the stop loss limit? The upper supply level or the lower supply level?

Thanks a lot, you guys really help me a lot
Hi anthony

I think you are over thinking this a bit. If you have to look real hard to find a zone then it is probably not there. Keep it simple above all else. Previous price action will show you the zone, how far and how fast did it move away from the area you are looking at. 1 pin bar on an hour chart could be 4 "normal looking candles on a 15m, but it will still show you your zone.

As for levels that are stacked. This can be troublesome at times. I will evaluate them. At times i will just make it one big zone and adjust my position size accordingly if there is enough room for the proper R:R. Other situations I will just take the upper zone (This is usually the case for me). Or put on half the position on the lower zone the other half on the upper if price gets there. So it is all up to you. There are a lot of ways to do it as long as you keep your money management in order paying attention to your R:R.

Rufus
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #1,447
  • Dec 1, 2011 9:19pm Dec 1, 2011 9:19pm
Quoting Good Lookin
Sorry, i may not have been clear. I'm gonna try to explain it here.

I'm talking about the basics only because it helps me explain it better so i hope not to offend you!


Attachment

A candle represents the price movement of a pair over a period of time.
In this case its 5 minutes.
The body of a candle is the movement inbetween the open and the close.
The wic of a bullish candle is the movement of price above the close and below the open.
The wic of a bearish candle is the movement of price below the close and above the open....

Thanks Good Lookin for giving me a deeper explanation, really thanks a lot
Now I understand what you meant
  • #1,448
  • Dec 1, 2011 9:30pm Dec 1, 2011 9:30pm
Quoting Rufus
Hi anthony

I think you are over thinking this a bit. If you have to look real hard to find a zone then it is probably not there. Keep it simple above all else. Previous price action will show you the zone, how far and how fast did it move away from the area you are looking at. 1 pin bar on an hour chart could be 4 "normal looking candles on a 15m, but it will still show you your zone.

As for levels that are stacked. This can be troublesome at times. I will evaluate them. At times i will just make it one big zone and adjust my position size...

Thanks Rufus, looks like I really had over thinking about it
I'll try my best to make it simple to me.
And about the stacked level, I guess I know how I'm going to rock it right now!
Really thanks a lot to Rufus and also Kenneth, Zamfir, Good Lookin and all the others
  • #1,449
  • Dec 2, 2011 3:30am Dec 2, 2011 3:30am
these I found a nice RBD
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I love PIE and RTP
  • #1,450
  • Dec 2, 2011 3:45am Dec 2, 2011 3:45am
Quoting ennichisai
these I found a nice RBD
well yeah, a nice supply level. But beware it was already touched and not fresh now ...
  • #1,451
  • Dec 2, 2011 3:50am Dec 2, 2011 3:50am
Quoting bullzeye
well yeah, a nice supply level. But beware it was already touched and not fresh now ...
yup it was.
thank's for the warn. I have another one here...
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I love PIE and RTP
  • #1,452
  • Dec 2, 2011 4:12am Dec 2, 2011 4:12am
this one looks really nice lets see...
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  • #1,453
  • Dec 2, 2011 4:27am Dec 2, 2011 4:27am
G/U m5...nice reaction in supply area

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  • #1,454
  • Dec 2, 2011 5:51am Dec 2, 2011 5:51am
Quoting ennichisai
yup it was.
thank's for the warn. I have another one here...
nice call ennichisai ...A/U sold and moved my SL already to BE

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  • #1,455
  • Dec 2, 2011 6:21am Dec 2, 2011 6:21am
just amazing

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  • #1,456
  • Dec 2, 2011 6:26am Dec 2, 2011 6:26am
Quoting piotr-fx
this one looks really nice lets see...
thanks, looks good so far...

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  • #1,457
  • Dec 2, 2011 6:39am Dec 2, 2011 6:39am
Quoting bullzeye
just amazing

Attachment
It was Employment Change and Unemployment Rate news for CAD which came -ve, and made this shoot up. However, due to supply/demand strategy, I was able to be on right side of this trade.

As explained in the BS trading PDF.

"The players aren't trying to create some mosaic art
form building different patterns or pictures to compete
in some competition. They are exchanging one currency
for another based on the current market conditions. We as
outside the loop players may not have all the information
or power of persuasion that big guys have so we have to
learn to see their levels of interest on the charts and then
trade accordingly.
Supply, is a amount"

regards
Abhi
  • #1,458
  • Dec 2, 2011 6:42am Dec 2, 2011 6:42am
Quoting bullzeye
thanks, looks good so far...

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  • #1,459
  • Dec 2, 2011 7:41am Dec 2, 2011 7:41am
What if, you're already doing everything right, even though you're not sure?

And the surprises along the way have only sped things up, even though it felt like they slowed you down?

And all that you want is now barreling towards you, even though you can't see it?

And when it arrives it'll exceed your every expectation, even though your dreams were huge?

Wouldn't you be making some really weird noises about now? Whoohoo'ing, howling... maybe even whoohoo-howl-barking?

Well?
The Universe
Good Trading To All ; Ken Lee
  • #1,460
  • Dec 2, 2011 7:52am Dec 2, 2011 7:52am
Quoting Kenneth Lee
[font=Verdana, Geneva, Arial, Helvetica, sans-serif]What if, you're already doing everything right, even though you're not sure?[color=#000066]

And the surprises along the way have only sped things up, even though it felt like they slowed you down?

[size=2][font=Verdana, Geneva, Arial, Helvetica, sans-serif][color=#000066]And all that you want is now barreling towards...

Ken,

I think you sent that directly to me. I like it. Thanks for sharing.
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