B.S. Trading with Kenneth Lee

I have now brought my stop down to break even

Closed this the trade

Fortunately I saw this also and closed half of my short position based on AUD/USD H4 posted 2-3 post above.

hcristea,
we just bounced from supply on H4 and now you want to take long trade against it, is this wise, or it;s going to be just quick scalp?

Been a bit busy this tax season so i haven't been able to contribute or trade as much as i'd like but here's my trades for the week. Set these trades around lunch time (12:30p est) on thursday. I knew i probably wouldn't be able to be around to watch the trade unfold so i was willing to accept a 2:1 trade.

All i did was check the daily trend, look for drops in the direction of the trend on the H4, then go down to the 1h and 30m for base setting.

Another thing that was working in my favor was that news release. Remember what Sam says about who buys after a rally or sells after a drop. Is that a high probability or a low probability trade? If you're on the other side of that trade are you high or low probabilty? Simple stuff.

+8%









Happy Friday!

youtube lesson SWAP / Line Trade

Thanks Ken that makes it so much more clearer. Please do more.
cheers
Alex

There is another good job video about item.
Click here.

Firstly thank you Ken I have followed your posts after seeing Sam’s work as a newbie which has been totally logical and just seen that you have uploaded your first YouTube clip (i think) which to me makes the understanding even better, please upload more clips with a bit of commentary which will help us all out.

Thank you again Ken for your support!!!!

Cheers
Stew

Ken,

I have read your post and the PDF and have to say that it has been a real "Duh" moment for me. I have been trying to pick up the method that Sam Seiden is teaching for the last several years. Now that I see your post it makes much more sense. One thing I wanted to ask you about is the swap levels and the "rejection" that you look for. I know Sam does not put emphasis on wicks.

On your levels for swaps I know you are looking for a wick just before price breaks past the previous support or resistance. Is that right? I am asking because depending on the time frame that wick can go away. In some cases on larger timeframes price blows right past a previous level of support and there is no wick at all. Of course you can still go down time frames and see levels at those areas, but on the larger time frames there might be nothing. Does this make sense? Do you understand what I am asking?

Thanks for the help!

This week major pari open with gap. What do you think is this novice or expert gap? I will call this expert gap because i think EU & AU break supply to further go up.

there was some euro news Iran cutting odd oil and some ECB action regarding Greek bonds i believe . so another reason to avoid holding over the weekend , I was glad i closed that Oz swap trade in the video. might have been ugly, other wise,

I will be looking to buy the euro today on a pullback

I am now long eurusd

I use the oanda charts to see price for sunday open

Thanks for the nice tutorial Ken!

Looking back at that swap and my trade I can see now that the spike through the demand level (even if my SL was not hit) was a warning sign that the long might not make it and I should have looked to exit if not to sell.

I was confused by that Hammer on the M30 and kept my trade open. If price goes through a level, the chances for that level to hold are slim even if the PA (like the hammer on M30) say otherwise. I've seen this many times.

Wise or not, the trade ended up in a loss In the past I also had some stupid trades very profitable, so this is not really a good metric in trading.

My bet was on the bullish momentum & a fresh demand level on M30. The bulls seems to be in control, as you can see, the price is making HHs and HLs and went back in the supply level on H4.

What I should have done is exit when saw the price went lower than my demand zone. And maybe scalp until the end of day.

Alright I am over 1 to 1...

I will now start watching price action

Alright I am now approaching my target I have moved up my stop to protect profits....

Good morning guys,

new trade taken on e/u m15, grades according to me:
- strength of the move 2
-reward/risk 2
-big picture 2
-retracement/tests 2
-time at a level 1

TTL - 9 (my only concern is that the price came to the level too early, I mean too soon but..)

Please comment.

Alright I have Closed my trade got well over 2 to 1