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B.S. Trading with Kenneth Lee

  • #1,721
  • Dec 21, 2011 3:53am Dec 21, 2011 3:53am
Best to trade as little as possible for the next two weeks.

but the trader in us will not let us do that..isnt it?

This is a good time to test a trader's dicipline.

Good luck to all , for NOT taking trades...heheheeh
  • #1,722
  • Dec 21, 2011 4:06am Dec 21, 2011 4:06am
Quoting zamfir
Best to trade as little as possible for the next two weeks.

but the trader in us will not let us do that..isnt it?

This is a good time to test a trader's dicipline.

Good luck to all , for NOT taking trades...heheheeh
wakaka, yeah right zamfir.
hoho.
so you also pick holiday till early next year?
I love PIE and RTP
  • #1,723
  • Dec 21, 2011 5:09am Dec 21, 2011 5:09am
Quoting ennichisai
wakaka, yeah right zamfir.
hoho.
so you also pick holiday till early next year?
No, i don't think so . I will still be finding some market to trade, but that's just me..
  • #1,724
  • Dec 21, 2011 7:30am Dec 21, 2011 7:30am
Lol , good day today..230 pips.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur_cad_90pips.gif Size: 22 KB
Click to Enlarge Name: eur_usd_140pips.gif Size: 26 KB
  • #1,725
  • Dec 21, 2011 7:33am Dec 21, 2011 7:33am
Quoting zamfir
Lol , good day today..230 pips.
what pair and which tf were they?
I love PIE and RTP
  • #1,726
  • Dec 21, 2011 7:36am Dec 21, 2011 7:36am
Quoting ennichisai
what pair and which tf were they?
Sorry didn't realize. i have removed all info from the charts.

Eur/Usd = 140 pips
Eur/Cad = 90 pips

Both on H4 TF

edit : uploading charts again..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur_cad_90pips.gif Size: 20 KB
Click to Enlarge Name: eur_usd_140pips.gif Size: 23 KB
  • #1,727
  • Dec 21, 2011 5:42pm Dec 21, 2011 5:42pm
ZAMFIR,

GReat spot.

How do u identify those area as strong supply area?

ARe u directly put PO after draw the line or u wait for price retrace from the zone only open trade?

Quoting zamfir
Sorry didn't realize. i have removed all info from the charts.

Eur/Usd = 140 pips
Eur/Cad = 90 pips

Both on H4 TF

edit : uploading charts again..
  • #1,728
  • Dec 21, 2011 8:25pm Dec 21, 2011 8:25pm
How do u identify those area as strong supply area?
A. Lots of practice my friend. Lots of it..

ARe u directly put PO after draw the line or u wait for price retrace from the zone only open trade?
A. I directly put a PO after identifying the levels and then you wait.
  • #1,729
  • Dec 21, 2011 8:27pm Dec 21, 2011 8:27pm
Quoting zamfir
Sorry didn't realize. i have removed all info from the charts.

Eur/Usd = 140 pips
Eur/Cad = 90 pips

Both on H4 TF

edit : uploading charts again..
Awesome..
  • #1,730
  • Dec 21, 2011 9:06pm Dec 21, 2011 9:06pm
Quoting anthony_tzw
Awesome..
like usual and always, he come out with awsome charts and results.
amazed with this man.
I love PIE and RTP
  • #1,731
  • Dec 21, 2011 9:25pm Dec 21, 2011 9:25pm
Quoting ennichisai
like usual and always, he come out with awsome charts and results.
amazed with this man.
Your are right man. I think he really train hard and took a lot of training before he get this kind of results.
  • #1,732
  • Dec 21, 2011 9:36pm Dec 21, 2011 9:36pm
Hi guys, would like to ask you guys a question, will you guys quantify the movement that I circled in the chart below as a strong rally? It contain lots of candle.
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD 30minutes chart.jpg Size: 96 KB
  • #1,733
  • Dec 21, 2011 10:17pm Dec 21, 2011 10:17pm
Quoting anthony_tzw
Hi guys, would like to ask you guys a question, will you guys quantify the movement that I circled in the chart below as a strong rally? It contain lots of candle.
My comments..
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD 30minutes chart.jpg Size: 182 KB
  • #1,734
  • Dec 22, 2011 1:21am Dec 22, 2011 1:21am
Quoting zamfir
My comments..
Thanks Zamfir for your comments

What I mean is if next time I see this kind of rally, can I quantify it as a strong rally? In other charts.

And the number "4" the part you circled, you say that much demand absorbed. Can you explain more briefly about that? Why do you say much demand absorbed at there? Thanks a lot zamfir
  • #1,735
  • Dec 22, 2011 2:16am Dec 22, 2011 2:16am
Quoting anthony_tzw
Hi guys, would like to ask you guys a question, will you guys quantify the movement that I circled in the chart below as a strong rally? It contain lots of candle.

I would watch this level for another long . But would probably not set a po as it is not fresh now . the near miss to me was the first touch but had strong demand which is why it did not make it all the way to the level.
Attached Image (click to enlarge)
Click to Enlarge Name: chart 169.JPG Size: 167 KB
Good Trading To All ; Ken Lee
  • #1,736
  • Dec 22, 2011 2:29am Dec 22, 2011 2:29am
Quoting anthony_tzw
Thanks Zamfir for your comments

What I mean is if next time I see this kind of rally, can I quantify it as a strong rally? In other charts.

And the number "4" the part you circled, you say that much demand absorbed. Can you explain more briefly about that? Why do you say much demand absorbed at there? Thanks a lot zamfir

A lot of the long orders were used there at 4 to push it up , But as i mentioned those orders came into play before your marked level. so whomever placed them was worried they would miss the level or had so much they were willing to take a higher price to get filled. Just as in REAL commodities one person may sell cheaper than another to move his product while someone else may hold out for a better price.In this case maybe they didn't want to lose more as the price was dropping and they were afraid they wouldn't have the volume to get rid of it all. we don't consider that to much ourselves but the big guys also have to find enough counter orders to get filled or may lose on some of their trades because of it.

That is always a bit of a brain teaser as you make money both ways in trading.


Ed Ponsi , Goes over that in his book, Forex Patterns and Probabilities
That large trading concerns will have to enter in parts to keep price from completely moving away from a level. So they AT times will enter in partial parts then let the retail traders push it back into the level and enter more . this is what can form double tops and bottoms as well as head shoulder patterns. We don't trade the patterns we trade the levels that make up the patterns which are there because of those orders they are trying to get filled.
Good Trading To All ; Ken Lee
  • #1,737
  • Dec 22, 2011 4:29am Dec 22, 2011 4:29am
Quoting anthony_tzw
Thanks Zamfir for your comments

What I mean is if next time I see this kind of rally, can I quantify it as a strong rally? In other charts.

And the number "4" the part you circled, you say that much demand absorbed. Can you explain more briefly about that? Why do you say much demand absorbed at there? Thanks a lot zamfir
Well @ 4, if the price ever comes back, there aren't going to be much demand left there to push the price up, as the orders just above it have already been filled. So probability that the marked level will work is very low.

Best to look for fresh levels.
  • #1,738
  • Dec 22, 2011 5:22am Dec 22, 2011 5:22am
Quoting anthony_tzw
Hi guys, would like to ask you guys a question, will you guys quantify the movement that I circled in the chart below as a strong rally? It contain lots of candle.
Firstly, i've been following this thread for a short while now and find it very valuable, so thank you to all who contribute.

I would suggest you look at the 1 hr Kiwi chart and see the level is fairly well represented here (at work so cannot post a chart!). Would have got you in at 4 with low risk
Progress, not perfection
  • #1,739
  • Dec 22, 2011 5:41am Dec 22, 2011 5:41am
Quoting Kenneth Lee
I would watch this level for another long . But would probably not set a po as it is not fresh now . the near miss to me was the first touch but had strong demand which is why it did not make it all the way to the level.
Thanks Ken, great analysis, now I understand clearer
  • #1,740
  • Dec 22, 2011 5:49am Dec 22, 2011 5:49am
Quoting Kenneth Lee
A lot of the long orders were used there at 4 to push it up , But as i mentioned those orders came into play before your marked level. so whomever placed them was worried they would miss the level or had so much they were willing to take a higher price to get filled. Just as in REAL commodities one person may sell cheaper than another to move his product while someone else may hold out for a better price.In this case maybe they didn't want to lose more as the price was dropping and they were afraid they wouldn't have the volume to get rid of it...
Great explanation from a experienced people from all business aspect. I feel you are a businessman before. thanks a lot Ken.
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