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B.S. Trading with Kenneth Lee

  • #2,621
  • Feb 16, 2012 11:41am Feb 16, 2012 11:41am
short E/U M15, I know we are up on H4, someone with me on this one?
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Profit Margin is the King!
  • #2,622
  • Feb 16, 2012 1:50pm Feb 16, 2012 1:50pm
Ouch!!!
Bad misses on both H4 EURUSD & USDCHF.

I put limit order for both before going to sleep...both missed by few pips..and lost opportunity to earn 200pips....
  • #2,623
  • Feb 16, 2012 2:51pm Feb 16, 2012 2:51pm
Quoting magelan
short E/U M15, I know we are up on H4, someone with me on this one?
For different reasons than the system features in this thread, I was buying a bit below your short (I trend scalp mostly.) Made 30 pips out of it.

The area just above the zone you marked as supply had a much higher probability of being tested. Not sure if you're still in the trade or not but the trend in general is still up. Looks to be setting up a base here to push off from, consolidation zone wise, so you might get a push down (or push against you again) after the coil springs.


Edit: Without proper supply and demand zones marked it can be hard to pick a top/bottom. Try to think of them as 'trapped' order zones, and if one zone is more juicy than the others, the market might roll over the ones in between as it gets there... so in this case, I went with the trend.

http://i.imgur.com/HxjNz.png
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  • #2,624
  • Feb 16, 2012 3:36pm Feb 16, 2012 3:36pm
Thanks for the input Jack_Larkin,

yes I am still in the trade with small profit, but that's not important
and may I ask why do you think "the zone above has much higher probability"
than the marked one. Because in my view the reaction from the marked zone is much stronger than the reaction from the zone above in M15 timeframe. Maybe you're looking the PA on H1 timeframe? When I switch to H1 I think I see your point.. but does this mean that the higher timeframe is always superior.. Please could you clarify a litle bit. I am tying to learn.

Thanks in advance Good Luck!
Profit Margin is the King!
  • #2,625
  • Feb 16, 2012 4:00pm Feb 16, 2012 4:00pm
Quoting Osman
Hey Sherm,

First of all congrats for you trades, ure doing great and please keep on posting them.

Question: On the euro short you took, we are very near daily demand (posted a daily chart above) should we only be looking for longs as we are down the curve ?

Thx.
Well both trades are correct ...thats why the key thing is money management. For example I got stopped out on the eurusd but I still liked the investment. All that matters is winning the week .
  • #2,626
  • Feb 16, 2012 5:24pm Feb 16, 2012 5:24pm
I will be buying the dips on this move

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  • #2,627
  • Feb 16, 2012 7:01pm Feb 16, 2012 7:01pm
Quoting ezpmee
thanks, it help develop my S/D trading experience . Here is my chart uc with Odds Enhancers.
@ezpmee,

Can you share your Odds Enhancers indicator?

Thank you.
  • #2,628
  • Feb 16, 2012 7:18pm Feb 16, 2012 7:18pm
Quoting magelan
Thanks for the input Jack_Larkin,

yes I am still in the trade with small profit, but that's not important
and may I ask why do you think "the zone above has much higher probability"
than the marked one. Because in my view the reaction from the marked zone is much stronger than the reaction from the zone above in M15 timeframe. Maybe you're looking the PA on H1 timeframe? When I switch to H1 I think I see your point.. but does this mean that the higher timeframe is always superior.. Please could you clarify a litle bit. I am tying to learn.

Thanks...
Well, if it works it works. I only made mention of it because the higher zone would have been a good entry without as much risk. You were nearly stopped out after all.

You could always split up your orders next time a higher timeframe S/D zone is so near. Put half your position on first, then the other half as if the higher timeframe S/D zone would trigger... If the higher zone takes preference, you'll be in at a blended rate and slightly reducing your risk. If not, then you still got something out of it as your initial position moves in your favour.

Of course, the combined size will be slightly less than the size you normally trade to make sure you're keeping the same risk profile.. but that's math you'll have to do on your own for the trade. Just don't double up, that's not what I'm suggesting.
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  • #2,629
  • Feb 16, 2012 11:09pm Feb 16, 2012 11:09pm
Quote
Well, if it works it works. I only made mention of it because the higher zone would have been a good entry without as much risk. You were nearly stopped out after all.

You could always split up your orders next time a higher timeframe S/D zone is so near. Put half your position on first, then the other half as if the higher timeframe S/D zone would trigger... If the higher zone takes preference, you'll be in at a blended rate and slightly reducing your risk. If not, then you still got something out of it as your initial position moves in your...

Thank You for the explanation, I think I see your point.
I may be have to consider this "splitting the orders" technique (I have to backtest). And what about closing 1/2 of the order at R:R 1:1 and leaving the rest ride (to next S/D or according to higher timeframe)
Do You use it Mr. Jack_Larkin? and others?

Thanks. Have a nice day!
Profit Margin is the King!
  • #2,630
  • Feb 17, 2012 12:31am Feb 17, 2012 12:31am
Do any of you guys that trade this system have skype?
  • #2,631
  • Feb 17, 2012 1:25am Feb 17, 2012 1:25am
Quoting Shermenator
Do any of you guys that trade this system have skype?
Hi Shermenator,

I have skype, but I am not very experienced - only about five live trades so far. However if you'd like send me PM.
Profit Margin is the King!
  • #2,632
  • Feb 17, 2012 1:34am Feb 17, 2012 1:34am
Quoting Shermenator
Do any of you guys that trade this system have skype?
I have PM me.
  • #2,633
  • Feb 17, 2012 1:39am Feb 17, 2012 1:39am
Did not have enough time to post my trade

I am now moving my stop to break even...up almost 2 to 1

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  • #2,634
  • Feb 17, 2012 2:37am Feb 17, 2012 2:37am
EU Trade.

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  • #2,635
  • Feb 17, 2012 3:29am Feb 17, 2012 3:29am
For example, the price is back to a Supply base on D1 chart, with good odds enhancers for a Sell trade. A Demand level on D1 chart is quite far, that promises a good profit.

But on this way down there will be 2-3 demand levels on H1 charts. Should they be taken into consideration as the reversal zones? Should my Sell trade be stopped there and changed for a Buy trade? Or should I wait, may be these demand levels on H1 will be through and the Sell trade will continue?
  • #2,636
  • Feb 17, 2012 3:53am Feb 17, 2012 3:53am
I like this simple and exactly thread.
Many Thanks to you, Ken!
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  • #2,637
  • Feb 17, 2012 5:38am Feb 17, 2012 5:38am
Hi there!

Here is one trade I made today on AUD/USD H4
One question for whoever want to answer. Do you consider this level "fresh" having in mind that the price missed it by 5-6 pips two times (see the yellow triangles). Thanks.

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Profit Margin is the King!
  • #2,638
  • Feb 17, 2012 6:57am Feb 17, 2012 6:57am
Current trade I am in

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  • #2,639
  • Feb 17, 2012 7:00am Feb 17, 2012 7:00am
Price near Demand. I have a buy order but is not filled yet.

The demand is a Drop-Base-Rise.
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  • #2,640
  • Feb 17, 2012 7:07am Feb 17, 2012 7:07am
Quoting hcristea
Price near Demand. I have a buy order but is not filled yet.

The demand is a Drop-Base-Rise.
The aud is the weakest currency today against the US...I will proabbly be looking for long if anything from the euro
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