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B.S. Trading with Kenneth Lee

  • #2,341
  • Feb 1, 2012 3:05pm Feb 1, 2012 3:05pm
Pending order on EURUSD

Buy limit: 1.3142
SL: 1.3115
TP: 1.3199

Any comments would be appreciated.
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  • #2,342
  • Feb 1, 2012 6:59pm Feb 1, 2012 6:59pm
Quoting oblo
Bad day. Got stopped on Gbp/Jpy, Gbp/Chf, Aud/Usd, Usd/Chf
Still +4.8% this week
Stopped on 4 trades and still up 4.8% for the week. Nice.
  • #2,343
  • Feb 2, 2012 12:41am Feb 2, 2012 12:41am
Hi Ken and All,

First thanx alot for your great system and comments.

Are you LIVE trading with Oanda? If so how about there service and the platform. Im also using Oanda(still only for test), but recently I've read some bad comments about them, that's why I want to clarify.


Thanx in Advance,
-Ishara
  • #2,344
  • Feb 2, 2012 5:32am Feb 2, 2012 5:32am
Quoting Pirabuji
Pending order on EURUSD

Buy limit: 1.3142
SL: 1.3115
TP: 1.3199

Any comments would be appreciated.
Hey Pirabuji. Looks like you got quite a decent bounce off this one. How did you get on?
  • #2,345
  • Feb 2, 2012 6:57am Feb 2, 2012 6:57am
Quoting isharasjc
Hi Ken and All,

First thanx alot for your great system and comments.

Are you LIVE trading with Oanda? If so how about there service and the platform. Im also using Oanda(still only for test), but recently I've read some bad comments about them, that's why I want to clarify.


Thanx in Advance,
-Ishara
I use Oanda as well as GFT, They all have there issues , GFT slips entries, stops and TP's during high volume moves, Oanda widens spread. I prefer Oanda as you know when they are going to do it. I Like there speed of execution and I can always get in and out. GFT also does some re-quoting which is very annoying if your trying to exit a trade you want out of badly.
You can avoid that mostly if you agree to a certain amount of slippage which you can set yourself. but basically your telling them to go ahead and take your money.

Normally with the re-quotes I can be patient and try again and get where i want. but overall for order placement and low spreads I like Oanda, I do like GFT's charting package. I have never used meta trader 4. But as it is a generic bit of software used by many. it does have lots of bells and whistles. But have heard from many that the feed to it can be a bit slow at times depending on your broker.

Just my two cents. Ken
Good Trading To All ; Ken Lee
  • #2,346
  • Feb 2, 2012 7:22am Feb 2, 2012 7:22am
Quoting isharasjc
Hi Ken and All,

First thanx alot for your great system and comments.

Are you LIVE trading with Oanda? If so how about there service and the platform. Im also using Oanda(still only for test), but recently I've read some bad comments about them, that's why I want to clarify.


Thanx in Advance,
-Ishara
I have been happy with Oanda. If you use them live I suggest using the MT4 for charting only. The execution is much faster with FXtrade. Never had an accounting issue with them. No requotes, only the widened spreads for news etc. The wide spreads usually only last five minutes or less then back to normal. E/U usually ranges .9 to 1.4 typically 1.2 in normal trading.
  • #2,347
  • Feb 2, 2012 7:25am Feb 2, 2012 7:25am
Today is the first day this week the one hour levels have held in E/U. Still in short from 1.3205 four hour supply holding for 29.75 demand. Hasn't been easy and news in six minutes may change my plan.
  • #2,348
  • Feb 2, 2012 7:44am Feb 2, 2012 7:44am
Quoting Seneca pilot
Today is the first day this week the one hour levels have held in E/U. Still in short from 1.3205 four hour supply holding for 29.75 demand. Hasn't been easy and news in six minutes may change my plan.
Stop moved to BE+20 if it comes back up again it probably won't stop. Supply probably used up at this point. I don't know if the claims number was good enough to start risk on today but it has been a wild week.
  • #2,349
  • Edited 9:31am Feb 2, 2012 8:36am | Edited 9:31am
Quoting isharasjc
Are you LIVE trading with Oanda? If so how about there service and the platform. Im also using Oanda(still only for test), but recently I've read some bad comments about them, that's why I want to clarify.
For what it's worth, my $0.02, I'm pretty happy with Oanda:
1) Deposits generally quick. (I'm UK based.)
2) Withdrawals also decently quick.
3) The ability to use arbitrary orders sizes down to one unit is a great advantage IMHO, especially for smaller accounts. (It means you can apply proper position sizing and aren't forced to up your effective leverage due to minimum lot sizes.)
4) Spreads widen during news time, I guess this is par for the course, but they are generally very competitive.
5) The ability to have sub accounts in alternate base currencies are similarly useful, and sub-accounts is also one way to somewhat work around the US no-hedging rule.
6) Directly opposing trades in the same currency pair are not possible in the same account, even in non-US jurisdictions. (But as implied before, you can do this via sub-accounts, or indeed in the same account if you know how to construct a synthetic pair. That of course uses margin, but it's an alternative way to open opposing trades or hedge that's not blocked or blockable by the US no-hedge rule.)
7) Metatrader support is limited to trading with a $1000 lot size.
8) The default Java platform is arguably limited. But for someone that wants a simple no-nonsense platform that is accessible most places without requiring a conventional install, it's actually really rather good IMHO.
9) Basic text based/HTML based interaction with your account is also possible via m.fxtrade.com (intended for mobile phones but works in any browser also.)

Hope that helps.
  • #2,350
  • Feb 2, 2012 8:42am Feb 2, 2012 8:42am
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Went short 2 Lots on the 5M in the Asian session.


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19 + pips each on 2 Lots

TSD
  • #2,351
  • Feb 2, 2012 8:57am Feb 2, 2012 8:57am
I'm trying to decide which cross pairs to follow as I don't want to watch them all, anyone have an opinion on the best ones?
  • #2,352
  • Feb 2, 2012 9:10am Feb 2, 2012 9:10am
Another bonus of Oanda is the fact you can open the platform on many computers at once. You can even open two on one computer if you use two different browsers I use Firefox and internet explorer so you can have your regular account open on one and your sub account open on another on the same machine.
Good Trading To All ; Ken Lee
  • #2,353
  • Feb 2, 2012 9:21am Feb 2, 2012 9:21am
Quoting Ultimatus
I'm trying to decide which cross pairs to follow as I don't want to watch them all, anyone have an opinion on the best ones?
I don't like giving trading advice such as this because one that is good for one may not be clear to another.

But that being said look to trade pairs that aren't always correlated this will limit risk on it's own to some extent. But I find if you just look for the AAA+ entries this is what you trade not the pairs.

But there is many factors involved in each persons trading. A pair not related to the gbp or dollar may be cheaper to trade for a person with a small equity.

I try and not have to many dollar or gbp positions open at once as big news from either really can make it move against you quick. Better to increase your position size on one than have two in my view.

I like OZ and Loonie as they seem to be pretty calm. The oz has become a good mover over the last couple of years as they are one of the few paying any interest.

But at the end of the day it is your choices you must live with , Though it would be easier to blame me or anyone else for bad choices .. LOL

Take some time during off hours to REALLY examine the charts and you should spot the ones that show you the best entries that you look for .

A lot of times we only look at charts when we are trying to trade, But weekend research is some of the best times to really study what is going on . We need to learn to analysis the market like any other job you don't go do a job without putting in the time to put together a contract or bid first. the work is the easiest part the prep-work or home work is what no one likes to do. But makes the difference between a pro and a amateur.

Nothing pointing at you personally just some thoughts. Ken
Good Trading To All ; Ken Lee
  • #2,354
  • Feb 2, 2012 9:25am Feb 2, 2012 9:25am
Hi Ken, I mean which CROSS pairs do you like? I am following all the majors and comms + gold and silver at the moment, but looking around at a few of the crosses, just wondered which are considered the 'best', (big ranges, not as spikey etc)

EG, ECad, EA look pretty good...
  • #2,355
  • Feb 2, 2012 9:38am Feb 2, 2012 9:38am
Quoting Ultimatus
Hi Ken, I mean which CROSS pairs do you like? I am following all the majors and comms + gold and silver at the moment, but looking around at a few of the crosses, just wondered which are considered the 'best', (big ranges, not as spikey etc)

EG, ECad, EA look pretty good...
By most standards there are only 4 majors e/u , g/u, u/j. and swizzy. The orhers are considered cross pairs. I don't see looniie or oz as crosses but most believe the dollar moves them .

As far as the ones you listed i don't trade or look at them much I find the 7 I watch plenty and only trade one or two at most at one time .

I watch a/u, a/j e/j , e/u gbp/u, g/j and u/cad. I watch the Aussie and yen's to be able to trade their sessions as well. I find i get more entries with this than I can safely manage so enough for me. Ken
Good Trading To All ; Ken Lee
  • #2,356
  • Feb 2, 2012 10:37am Feb 2, 2012 10:37am
It is when we see things like this that make all this S/D trading worth the effort to keep working on it . If you played all those levels as only fresh you would have a weeks worth of gains in one morning.
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Good Trading To All ; Ken Lee
  • #2,357
  • Feb 2, 2012 10:42am Feb 2, 2012 10:42am
Current AU trade. Entered short at 1.0741. Would be good to run to Demand, target at 1.0669. Currently up 20 pips. Moved to BE. Will keep watching
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  • #2,358
  • Feb 2, 2012 11:14am Feb 2, 2012 11:14am
stuff
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Good Trading To All ; Ken Lee
  • #2,359
  • Feb 2, 2012 11:36am Feb 2, 2012 11:36am
Quoting Kenneth Lee
Another bonus of Oanda is the fact you can open the platform on many computers at once. You can even open two on one computer if you use two different browsers I use Firefox and internet explorer so you can have your regular account open on one and your sub account open on another on the same machine.
Great thread Kenneth, big thanks for it have you tried oanda desktop? no need for browsers
  • #2,360
  • Feb 2, 2012 11:46am Feb 2, 2012 11:46am
Quoting kvhutch
Current AU trade. Entered short at 1.0741. Would be good to run to Demand, target at 1.0669. Currently up 20 pips. Moved to BE. Will keep watching
Looking at the chart, I chose to close the trade at the outer BB for 48 pips. Subsequently bounced at the BB but may continue down. Still, happy with a 50 pip trade.
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