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B.S. Trading with Kenneth Lee

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  • Post #1,681
  • Quote
  • Dec 18, 2011 3:59pm Dec 18, 2011 3:59pm
  •  ennichisai
  • | Additional Username | Joined Nov 2011 | 160 Posts
Quoting Kenneth Lee
Disliked
Not in key west , another Tourist council kinda day. Gets a bit boring actually.

http://www.accuweather.com/en/us/key...orecast/332323
Ignored
wow, hot coast
but nice view,,, I love the sea view there, cant imagine doing trade with blue ocean view in front of me....
lolz
I love PIE and RTP
 
 
  • Post #1,682
  • Quote
  • Dec 18, 2011 4:07pm Dec 18, 2011 4:07pm
  •  acetrader
  • Joined Feb 2006 | Status: Member | 1,705 Posts
anthony tzw,

We are all in a learning stage to some degree.....you are not alone in that.
With well over 20 yrs in the trading business I am still learning each day.
Before discovering Ken's thread I was trading a method that was working for me, but not working that great, then along comes Ken's S&D trading & now I am learning how to trade a different method & it is working for me.

I too close winning trades too soon at times, but I also cut the losers sooner. Your age should in some ways be a benefit to you. Young minds should be able to absorbe what Ken is sharing here. The benefits of youth are on you side. Oh, how I would have loved to had Ken to have shared this when I was 17.

Stop concerning yourself with how you think other traders feel about you & focus that energy on learning what is being shared on this thread. Ask your questions....KEN or someone will answer. Trying to follow too many social media sites can be a drain on your energy......use that time to hone your trading skills.

Correlations of pairs has its place in trading, but to keep things simple just focus on one or two pairs & trade them. The EUR/USD pair or the AUD/USD are two that gets my attention with EUR/USD being the front runner.

I try to live in "REALVILLE" & for me that is keeping my trading plans simple & trading the plan.

Now for my final suggesstions to you as a young trader.....Follow what has been shared here, adapt what has been shared to your style, focus on one or two pairs, studing the charts KEN & OTHERS are sharing, cut your losing trades short & let the winners run their course, re read the pdf & last but not least, keep following the thread & asking your questions. There are NO DUMB questions. They may not all get answered, but KEN is trying his best to answer everyones questions & concerns.

Please consider my views as only suggesstions to you in an effort to help & not trading advice. I do sincerely hope you can succeed in this great business of trading.
_____________________________
 
 
  • Post #1,683
  • Quote
  • Dec 18, 2011 5:16pm Dec 18, 2011 5:16pm
  •  Lou
  • Joined Mar 2004 | Status: Senior Member | 1,456 Posts
Quoting Kenneth Lee
Disliked
Not in key west , another Tourist council kinda day. Gets a bit boring actually.

http://www.accuweather.com/en/us/key...orecast/332323
Ignored

Going to Bonita Beach for Christmas/NewYear. Hoping for some of that warm weather you are enjoying. Although not bad here in Minnesnowta. 45 today (almost shorts and aloha shirt weather)
 
 
  • Post #1,684
  • Quote
  • Dec 18, 2011 9:00pm Dec 18, 2011 9:00pm
  •  anthony_tzw
  • | Joined Nov 2011 | Status: Member | 123 Posts
Quoting Kenneth Lee
Disliked
I never knew or care about your age , i apologize if you feel slighted in any way. I don't respond to all questions as I give others a chance to respond enhancing everyone's learning. Be careful about judging your performance against any one else s as you don't know their circumstances. They maybe working off demo a much easier way to make huge wins possible.

But in reality if a person is trading off 4 hr charts their target also off the 4hr will relate to that time frame. I trade primarily the 30 min and I tp AT BEST, right before the first opposing...
Ignored
Thanks Ken for your encouragement, I'll try to work harder and always be a part of this thread You had already done a great pdf. Really helps a lot.
 
 
  • Post #1,685
  • Quote
  • Dec 18, 2011 9:38pm Dec 18, 2011 9:38pm
  •  anthony_tzw
  • | Joined Nov 2011 | Status: Member | 123 Posts
Quoting Supernaut
Disliked
I really want to respond to this. First of all, I'm also still learning. I have been trading real account for like 4 months. Although I do have a lot of experience of bad demo trading with various systems. So I have been in and out of forex for 3 years or so.

I also perform better on higher timeframes (1h is the lowest). I have no problems with this. In fact it gives me better odds to survive in this game. Simply because spread is a smaller fraction of my risk and profit. Paying 2-pip spread, when your stop is 10 pips and target 20 pips is simply...
Ignored
1st of all, thanks for your comment, supernaut .
Actually I have a goal that making 20-40% profits a week, I counted in pips because of I read a book say that we should calculate in pips rather than $ Because different pair has different value per pip. But I do keep my goal as percentage. And I didn't take other traders achievement here to compare with mine, I just act them as (something like self-target) and learn from them. I do take a little concern on pips I made because if I just make 20pips per week, I think if I want to get to my 20% goal per week, I have to trade with a larger lot size which might not comfortable for me. But overall I still stick with percentage when calculating my profits.

For now, I trade with 0.02 lot with a 200$ account size, but for the past two weeks, I found that I just make around 8-10% per week, and with a maximum drawdown 5%. Normally I only risk 3% of my account per trade.As I read the posts that posted by Ken said that he trade with 2$ per pips for his 1000$ account and he trade within his comfort zone. I start to think that 0.04 lot per pips for a 200$ account is quite ok for me, and might be increase my risk to 6% per trade.

I trade only risk 3% per trade for me now is because of many books I read says that don't risk more than 5% per trade. Besides that, the famous free online trading school "babypips.com" suggest only trade 0.01 lot size with every 1000$, I didn't say they are wrong, but I think I have to change my money management according to my comfort zone, not according to those books or other traders suggest. But for now I don't compound my profits, I will just withdraw my profits every week and I might make compounding when I have a larger account.

Thanks for supernaut and kenn comments Happy trading!
 
 
  • Post #1,686
  • Quote
  • Dec 18, 2011 9:47pm Dec 18, 2011 9:47pm
  •  anthony_tzw
  • | Joined Nov 2011 | Status: Member | 123 Posts
Quoting acetrader
Disliked
anthony tzw,

We are all in a learning stage to some degree.....you are not alone in that.
With well over 20 yrs in the trading business I am still learning each day.
Before discovering Ken's thread I was trading a method that was working for me, but not working that great, then along comes Ken's S&D trading & now I am learning how to trade a different method & it is working for me.

I too close winning trades too soon at times, but I also cut the losers sooner. Your age should in some ways be a benefit to you. Young minds should be able to absorbe...
Ignored
Hi acetrader,

I think you are right, following too many forum will just let my energy drain and make things complicated. It's hard for me to let the winner runs Your suggestions are really appreciated. Happy trading.
 
 
  • Post #1,687
  • Quote
  • Dec 18, 2011 11:15pm Dec 18, 2011 11:15pm
  •  Kenneth Lee
  • Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Quoting Lou
Disliked
Going to Bonita Beach for Christmas/NewYear. Hoping for some of that warm weather you are enjoying. Although not bad here in Minnesnowta. 45 today (almost shorts and aloha shirt weather)
Ignored

We are actually going to see the Mouse over the xmas holiday . Disney World. Mickey Mouse for those not in the know. Meeting my son and his family there.
Suppose to be near 80 then as well but it is 400 miles north of here .

Hope you have a great holiday .. Ken
Good Trading To All ; Ken Lee
 
 
  • Post #1,688
  • Quote
  • Dec 18, 2011 11:23pm Dec 18, 2011 11:23pm
  •  shogeki
  • | Joined May 2011 | Status: Member | 52 Posts
Thanks Ken and all the traders on this thread. Been following from the start and appreciate all you have done.
Going to the beach for Xmas look forward to joining you all next year.
Be safe and God bless

Tony
From New Zealand
 
 
  • Post #1,689
  • Quote
  • Dec 18, 2011 11:24pm Dec 18, 2011 11:24pm
  •  Kenneth Lee
  • Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
cable trade
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Good Trading To All ; Ken Lee
 
 
  • Post #1,690
  • Quote
  • Dec 18, 2011 11:28pm Dec 18, 2011 11:28pm
  •  Kenneth Lee
  • Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
cable 2 forgot to mark level
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Good Trading To All ; Ken Lee
 
 
  • Post #1,691
  • Quote
  • Dec 18, 2011 11:31pm Dec 18, 2011 11:31pm
  •  Kenneth Lee
  • Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
I took that trade at 2:00 pm eastern about 3 hrs before real market open but Oanda is up and running then . But spread is high.
Good Trading To All ; Ken Lee
 
 
  • Post #1,692
  • Quote
  • Dec 18, 2011 11:35pm Dec 18, 2011 11:35pm
  •  Kenneth Lee
  • Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Lot of good levels across a bunch of pairs then. But high spread equates to higher risk so one was enough for me. .9990 on oz was stellar as well
Good Trading To All ; Ken Lee
 
 
  • Post #1,693
  • Quote
  • Dec 19, 2011 2:24am Dec 19, 2011 2:24am
  •  zamfir
  • Joined Oct 2011 | Status: Member | 835 Posts
Quoting Kenneth Lee
Disliked
We are actually going to see the Mouse over the xmas holiday . Disney World. Mickey Mouse for those not in the know. Meeting my son and his family there.
Suppose to be near 80 then as well but it is 400 miles north of here .

Hope you have a great holiday .. Ken
Ignored
Wow Ken, you have son. Hope you don't mind me asking how old are you?

Anyways , have a great christmas and new year!!
 
 
  • Post #1,694
  • Quote
  • Dec 19, 2011 3:27am Dec 19, 2011 3:27am
  •  Kenneth Lee
  • Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Quoting zamfir
Disliked
Wow Ken, you have son. Hope you don't mind me asking how old are you?

Anyways , have a great christmas and new year!!
Ignored

I am 52.
Good Trading To All ; Ken Lee
 
 
  • Post #1,695
  • Quote
  • Dec 19, 2011 5:02am Dec 19, 2011 5:02am
  •  acetrader
  • Joined Feb 2006 | Status: Member | 1,705 Posts
Kenneth,

I am slightly ahead of you in age & all is good. Age is a state of mind anyway. This thread & the info on trading S&D has really been a bonus to my trading account & opened my eyes to a much better way of trading. Thank you for sharing. Enjoy your trip to Disney World with your family.

"Merry Christmas" to you & your family & a "Happy New Year".

____________________________
 
 
  • Post #1,696
  • Quote
  • Dec 19, 2011 2:49pm Dec 19, 2011 2:49pm
  •  Kenneth Lee
  • Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
keep this in mind , i took some shorts last night one in e/u one in oz and watched them most the night for little gains. may not trade much this week , fresh touches on cable would have yield some but only if you tp'd quick.

Interesting statistics here.


http://www.babypips.com/blogs/pipono...tter%20Account

off to work Cheers, Ken
Good Trading To All ; Ken Lee
 
 
  • Post #1,697
  • Quote
  • Dec 19, 2011 3:11pm Dec 19, 2011 3:11pm
  •  ennichisai
  • | Additional Username | Joined Nov 2011 | 160 Posts
Quoting Kenneth Lee
Disliked
keep this in mind , i took some shorts last night one in e/u one in oz and watched them most the night for little gains. may not trade much this week , fresh touches on cable would have yield some but only if you tp'd quick.

Interesting statistics here.


http://www.babypips.com/blogs/pipono...tter%20Account

off to work Cheers, Ken
Ignored
thank's for the source Ken
I love PIE and RTP
 
 
  • Post #1,698
  • Quote
  • Dec 20, 2011 3:22am Dec 20, 2011 3:22am
  •  hcristea
  • | Joined Oct 2007 | Status: papa dragon | 293 Posts
There is a fresh supply level on GOLD.

GOLD is one of the instruments that respond very well on S&D levels. No large wicks, big moves, very good liquidity.
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  • Post #1,699
  • Quote
  • Dec 20, 2011 4:20am Dec 20, 2011 4:20am
  •  Ultimatus
  • | Joined Apr 2010 | Status: Member | 286 Posts
Quoting hcristea
Disliked
There is a fresh supply level on GOLD.

GOLD is one of the instruments that respond very well on S&D levels. No large wicks, big moves, very good liquidity.
Ignored
well spotted, watching this one myself. It might get there today...
 
 
  • Post #1,700
  • Quote
  • Dec 20, 2011 9:07am Dec 20, 2011 9:07am
  •  anthony_tzw
  • | Joined Nov 2011 | Status: Member | 123 Posts
Have 3 losses in a row, COMBO.
I might have to take a rest and refresh my mind what I have done wrong.. Sad christmas week.
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