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Day Trading vs. Swing Trading vs. Position Trading 84 replies

Attachments: B.S. Trading with Kenneth Lee
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B.S. Trading with Kenneth Lee

Quoting paulr

there was a demand level at 1.3110
Entered at 1.3105 when a doji appeared on 30 min.

.
Good entry. Did u ride it all the way up?
unfortunately no
took about 75 pips, that was my plan .
didnt expect it keep going up to be honest lol
Hi Ken,,

Can you please explain why you took the short highlighted in blue? The nearest supply I can see is boxed in pink but price seems far from it. Was this the zone you were trading?

Also you trade on point A, how do you know when to stop using a level? It looks like this level has been hit a few times from the original demand zone, marked in pink as well.


Quoting Kenneth Lee
last trade
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Hi Ken,,

Can you please explain why you took the short highlighted in blue? The nearest supply I can see is boxed in pink but price seems far from it. Was this the zone you were trading?

http://www.forexfactory.com/showthre...27#post5362027


Also you trade on point A, how do you know when to stop using a level? It looks like this level has been hit a few times from the original demand zone, marked in pink as well.

I have know clue when a level will fail but I do watch PA and try and read as much from the charts as I can. the last swing high on this chart had printed higher, than the last TWO swings and any movement down was minimal.

I was taking chance entering when I did due to the pending news release
Put after weighing the price action. I decided to enter early to get around paying the high spread.
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Good Trading To All ; Ken Lee
Kenneth,

On the attached chart I have drawn a demand zone in pink and it also shows the demand zone you used for your entry at A in white. Would you treat your white demand zone as fresh and ignore the pink one one now?

To explain better I've attached a current AUDUSD 1H hour. The area marked in D, is that a fresh demand zone that you would trade or is it not a fresh level because it is close / overlaps C demand zones?
On the same chart is B a fresh / independent zone or is it just a bounce from demand zone A?

Final question, you say you don't place PO at zone and watch PA. How do you do this? Do you drop to a lower time frame and look for rejection bars i.e. pins or engulfing bars? Or do you wait for a close of a bar that hits the zone and then enter on break of the high of that bar if you are trading long from a demand zone?

Thanks
P




Quoting Kenneth Lee
Hi Ken,,

Can you please explain why you took the short highlighted in blue? The nearest supply I can see is boxed in pink but price seems far from it. Was this the zone you were trading?

http://www.forexfactory.com/showthre...27#post5362027


Also you trade on point A, how do you know when to stop using a level? It looks like this level has been hit a few times from the original demand zone, marked in pink as well.

[b][color=Blue]I have know clue when a level will fail but I do watch PA and try and read as much...
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On the attached chart I have drawn a demand zone in pink and it also shows the demand zone you used for your entry at A in white. Would you treat your white demand zone as fresh and ignore the pink one one now?

No it has been hit many times it is a level off to the left. I would watch PA as it aproaches and see if I can get a entry after a couple of touches i like to get a entry DEEP inside the level close to the stop this way it is less risk and a smaller loss if it does fail.

To explain better I've attached a current AUDUSD 1H hour. The area marked in D, is that a fresh demand zone that you would trade or is it not a fresh level because it is close / overlaps C demand zones?
On the same chart is B a fresh / independent zone or is it just a bounce from demand zone A?

I see D as a fresh level it is a higher low formed from your A level, I see B as just a touch of A and should be treated so. It is hard to say things in definite ways as we see many times a level may form just a few pips above a old level and turn price very strong. this is how we build levels on levels. the safest trade of course is to wait for price to hit the last level in the group in your chart that would be A. it has been hit a good deal but by the time price approaches it again it will full fill a good many of the odds enhancers.

Final question, you say you don't place PO at zone and watch PA. How do you do this? Do you drop to a lower time frame and look for rejection bars i.e. pins or engulfing bars? Or do you wait for a close of a bar that hits the zone and then enter on break of the high of that bar if you are trading long from a demand zone?

I want to move more into PO trading but I have traded manually so long it is hard to do at this point. I do just what i say I watch rice Action but no i don't switch time frames there is no need and I never wait for any signal candles. You can see a lot if your really watch as the price is moving you can see momentum falling off or gaining . by the speed in which the price is moving forward . you can see price hesitating and stopping all together and the orders start to swap as price stalls . Then we can see the imbalance of orders at our levels as price starts to move away in our trade direction. After you watched price move for a few years and can see the good levels you will know with a good chance what will happen next . You for sure should know the two different scenarios. Because there are only two the right way or the wrong way .

I really do just stay on my 30 min chart 99% of the time i do post some faster charts to let people understand what i was watching as price was moving, ( The price Action)
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Good Trading To All ; Ken Lee
Weekly chart impacting some heavy supply and we can see price action rejecting higher price for the time being...might consider a short as a scalp for now from an intraday perspective


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EurUsd

We are now impacting that weekly supply level and we can see how price is reacting to that supply level by leaving long wicks showing selling pressure. If you can also notice many traders probably took the break long of yesterdays high so it would be great if we can profit once those long traders get stopped out turning them into sellers since them closing their long trades will be the order flow needed to push price lower.

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hey Ken,

Could inform me where I can see all the odds enhancers SS uses?


thanks
EURUSD

Here is an update from my perspective earlier this session...I am currently short and will watch price action develop to decide when to move my stops and when to profit take...I have already reduced some of my risk in my trade. Looking forward for some profit taking to take place from the earlier longs in the market...

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Quoting FOURX
hey Ken,

Could inform me where I can see all the odds enhancers SS uses?


thanks
They are in the pdf on the first page of this thread.
cc
Quoting Shermenator
EURUSD

Here is an update from my perspective earlier this session...I am currently short and will watch price action develop to decide when to move my stops and when to profit take...I have already reduced some of my risk in my trade. Looking forward for some profit taking to take place from the earlier longs in the market...

Attachment 893911
Hi Shermenator,

Nice short on the 1H based of the weekly Supply level?

Looks good so far
hi Ken:

thanx for the thread.
would luv to hear what when wrong with my trade here.
I thought it follow quite closely to this http://www.forexfactory.com/showthre...83#post5338483

Did I misinterpret swap?
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I am now short in the GBP/USD

Small risk good reward

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Quoting Shermenator
I am now short in the GBP/USD

Small risk good reward

Attachment 894655
Heya Shermenator. Was trying to see what you have used as your Supply area. I see where you went short but can't see what levels you've used.

Cheers

Hutch
Quoting kvhutch
Heya Shermenator. Was trying to see what you have used as your Supply area. I see where you went short but can't see what levels you've used.

Cheers

Hutch
You might be able to see a small supply area in M5.
I took the same trade based on the 5 minute chart, out now for a quick scalp.
Hey Ken (and all)

Is it me or does the market appear to be pretty volatile of late. Looking at the charts the wicks seem to be pretty long for both Bulls and Bears. Accumulation and Distribution phases seem to be shorter lived with more rapid swings to Mark Up and Mark Down.

Of course, volatity only signals collective trader psychology and can be great for trading. I know a few have been trading the methodology for a while now and was wondering how todays conditions compare.
Quoting kvhutch
Heya Shermenator. Was trying to see what you have used as your Supply area. I see where you went short but can't see what levels you've used.

Cheers

Hutch
Sorry did not have enough time to put the pic since I was trying to post it fast....

Here is why I am short....

If you look at GBPUSD weekly we are now impacting supply and price has been slowing down over the past couple of weeks as we approached this area...

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Now once you drop it to the next time frame you can see how demand is failing at this prices due to the fact price is now not being able to maintain above this months high showing me weakness to the upside since you can see that order flow is now slowly tilting towards the bears...we have also been able to trap long traders at the top of the market by having a false break.


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Now that I drop down to my trading time frame....We have a very key supply level at the top but I don't see price testing it due to the amount of weakness shown in demand after yesterday so too see a 70 percent retracement or so seems to deep after so much weakness in demand yesterday.

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So then you can see the supply level I saw from the 1 hour chart but you can see it clear in this time frame...(Hope I made sense in all this writing ) I suck at writing so forgive me lol

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Quoting Shermenator
So then you can see the supply level I saw from the 1 hour chart but you can see it clear in this time frame...(Hope I made sense in all this writing ) I suck at writing so forgive me lol
Actually that's an excellent explanation. Fully see your reasoning and looks like the trade is working out fine.

Nice trading mate :-)
Quoting Shermenator
Sorry did not have enough time to put the pic since I was trying to post it fast....

Here is why I am short....
..(Hope I made sense in all this writing ) I suck at writing so forgive me lol
Thank you.
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