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B.S. Trading with Kenneth Lee

  • #2,221
  • Edited 1:28pm Jan 26, 2012 12:53pm | Edited 1:28pm
I am not anywhere where I can upload a chart but this is so obvious you will not have any trouble seeing it......

Please look at the AUDUSD 5 M charts. This is a near perfect RISE/BASE/DROP. The demand zone is .0639 - .0632.

Price left this zone in near perfect fashion. Based, and then dropped back into the zone aggressively. This aggressive move back into the zone tells me that the set up has a high % of working. (Meandering PA back into a zone has a lower % of working) From that point there was a solid bounce long to .0659... So plenty of room for a 2:1 R/R

Picking the target on this trade you can see an area of support resistance around the .0658. Yes there is a definite difference between Support / Resistance and Supply / Demand. I think this chart shows that very clearly.

I have always been an S/R trader till I discovered Supply Demand. I will admit it took a while for me to get that there really is a difference. I have read some past reviews about this Sam Seiden's methods. There are some who will state that this is just a glorified view of Support Resistance...

“I could not disagree more!!!!” They are different.


Just some observations I thought I would share.



TSD
  • #2,222
  • Edited 5:11pm Jan 26, 2012 3:13pm | Edited 5:11pm
Anyone catch this small play on the USD/JPY????


http://i37.photobucket.com/albums/e8...8/asdfzxcv.gif
  • #2,223
  • Jan 26, 2012 5:23pm Jan 26, 2012 5:23pm
Quoting low_key321
Anyone catch this small play on the USD/JPY????


http://i37.photobucket.com/albums/e8...8/asdfzxcv.gif

See post #2216

TSD
  • #2,224
  • Jan 26, 2012 7:46pm Jan 26, 2012 7:46pm
ohh accidentally skipped that page

I'm also looking at the USD/CAD 1HR chart and see a very nice supply zone. Looking at the probability factor outline from the BS Trading pdf, its practically an 7-8.

http://i37.photobucket.com/albums/e8...usdcad1-26.gif
  • #2,225
  • Jan 26, 2012 8:03pm Jan 26, 2012 8:03pm
Quoting TraderinSD
I am not anywhere where I can upload a chart but this is so obvious you will not have any trouble seeing it......

Please look at the AUDUSD 5 M charts. This is a near perfect RISE/BASE/DROP. The demand zone is .0639 - .0632.

[color=black][font=Verdana]Price left this zone in near perfect fashion. Based, and then dropped back into the zone aggressively. This aggressive move back into the zone tells me that the set up has a high % of working. (Meandering PA back...
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,226
  • Jan 26, 2012 8:05pm Jan 26, 2012 8:05pm
Quoting low_key321
i've gone through a couple pages and i can't seem to find any videos regrading this exact method of trading. Could someone post something up?


thanks
There are a couple awesome PDF's on the first post of this thread. Read through those.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #2,227
  • Jan 26, 2012 8:55pm Jan 26, 2012 8:55pm
Quoting TraderinSD
Attachment

PO long on the USDJPY.. 1H.. Taking the trade on the top level as this is the swap level as the arrows indicate.


Attachment

We have levels on levels. PA is ranging so we should see a bounce at the PO area..

If you create a 4H chart...looking farther left you will see where price has rejected this area 77.31 multiple times.

TSD

Attached Image (click to enlarge)
Click to Enlarge Name: Forex Trade 1.26 USDJPY Long #1.JPG Size: 104 KB


Here was my entry on the 1H USDJPY. As you can see price came right down onto my SL. I was lucky and was not taken out. Price moved back up but we are now looking at multiple touches (3) at this level. PO was a 2 lot 77.315..SL 77.220..TP 77.429.. I'll take it as I was very lucky on my SL.

Attached Image (click to enlarge)
Click to Enlarge Name: Forex trade 1.26 USDJPY Long #2.JPG Size: 89 KB


Looking back over the trade, my entry level could have been placed better. GL's uses previous price levels ( were price has rejected ) contained within the zone to determine entry levels. As a previous S/R trader I would use the Open and Close instead of the High and Low to determine areas of Support / Resistance. The reasoning behind this: I view the wicks as probes or ropes hanging from a cliff. The ropes are the wicks and the cliffs are where the real support level is. Looking left ( a good distance back ) using this method ( yellow line ) ,we see significant touches of this price level for our PO placement..In hindsight we would had a better entry.. But that is hind sight.

At this point, still looking at which one will work better ... H/L or O/C.

Will see??

TSD
  • #2,228
  • Jan 26, 2012 9:28pm Jan 26, 2012 9:28pm
Attached Image (click to enlarge)
Click to Enlarge Name: Forex Trade 1.26 EU Short 15M #1.JPG Size: 87 KB


EU Asian session

PO short 2 lot @ 31502

TP @ 31352

SL @ 31554

Looking for just about 3:1 R/R

Will see ?

TSD
  • #2,229
  • Jan 26, 2012 9:51pm Jan 26, 2012 9:51pm
Sell at upper line targeting lower line. Buy at lower line targeting upper line. Pound already moving down.
Attached Image (click to enlarge)
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  • #2,230
  • Jan 26, 2012 9:54pm Jan 26, 2012 9:54pm
Pound already moving nicely. Late entry because this pair is a bastard and I wanted to make sure it was headed down before I got in.
Attached Image (click to enlarge)
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  • #2,231
  • Jan 26, 2012 9:59pm Jan 26, 2012 9:59pm
Looks like a good plan. I am short already, but I would expect to see some pull back, so maybe you will get it . You sure have some tight stops for that type of trade . You may have a good R:R, but would you consider it a good trade in terms of risk?

[quote=TraderinSD;5330648

Will see ?

TSD[/quote]
"Keep your eyes on the helpers" - Mr. Rogers
  • #2,232
  • Jan 26, 2012 10:09pm Jan 26, 2012 10:09pm
Attached Image (click to enlarge)
Click to Enlarge Name: pound trade.jpg Size: 115 KB
  • #2,233
  • Jan 26, 2012 11:18pm Jan 26, 2012 11:18pm
Hey guys been following through this thread and do much appreciate all input as with the other Supp/Dem threads.. Also tried to get a couple of my younger sisters (11/15) to read your pdf Ken as to get them into this stuff nice and early for their own benefit Anyways heres a trade that went off just recently on USDJPY off a 4HR zone.. not sure bout the big downbar into it but it stopped nicely in my zone which i had a PO in.. see what happens i spose..
Cheers
Josh
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 79 KB
nollej is power..
  • #2,234
  • Jan 27, 2012 3:43am Jan 27, 2012 3:43am
Quoting Seneca pilot
A chart for my last post if you like that sort of thing.
Missed by a whisker huh?

What I learned with this method is to be generous with entries & SL, especially when trading fast TFs.

Rewards of 4 times the risk are very common and if you pick the zones right, this method has a very high win rate. I've learned not to be greedy and not to expect/hope for big moves. I also learned that it is better for my account and for my mental comfort to have many wins like 3-4R than miss trades because of tight entries to gain 6-8R wins.

Be generous with your entry & SL and the market will reward you
  • #2,235
  • Jan 27, 2012 4:13am Jan 27, 2012 4:13am
Short triggered going to sleep.
Attached Image (click to enlarge)
Click to Enlarge Name: euro short.jpg Size: 95 KB
  • #2,236
  • Jan 27, 2012 4:19am Jan 27, 2012 4:19am
another buy triggered while at gym..see how she goes..
josh
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.jpg Size: 77 KB
nollej is power..
  • #2,237
  • Jan 27, 2012 4:23am Jan 27, 2012 4:23am
Quoting hcristea
Missed by a whisker huh?

What I learned with this method is to be generous with entries & SL, especially when trading fast TFs.

Rewards of 4 times the risk are very common and if you pick the zones right, this method has a very high win rate. I've learned not to be greedy and not to expect/hope for big moves. I also learned that it is better for my account and for my mental comfort to have many wins like 3-4R than miss trades because of tight entries to gain 6-8R wins.

Be generous with your entry & SL and the market will reward you ...
Yes on my feed the zone started at 1.29285 and I just rounded the entry to 300. In hind site I should have gone with 29350. Low price on my feed was 312. Happens I guess but I was a little greedy with the entry.
  • #2,238
  • Jan 27, 2012 4:46am Jan 27, 2012 4:46am
Quoting Seneca pilot
Short triggered going to sleep.
where will uplace your target?
Simplicity Is The Ultimate Sophistication ~LDV~
  • #2,239
  • Jan 27, 2012 4:48am Jan 27, 2012 4:48am
TradingSD\

I ref to supply & demand being different from S&R.....your are correct & it took be sometime to get the diffence. I got it now & am trading on with it. Again, tks Ken for sharing.
  • #2,240
  • Jan 27, 2012 5:03am Jan 27, 2012 5:03am
Quoting alterchristo
where will uplace your target?

Half off at 3050 target is 2975. Now truly going to bed.
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