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Day Trading vs. Swing Trading vs. Position Trading 86 replies

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B.S. Trading with Kenneth Lee

  • #2,661
  • Feb 20, 2012 3:22am Feb 20, 2012 3:22am
Quoting Shermenator
Alright I have Closed my trade got well over 2 to 1

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I wont be taking many trades after this due to low volume due to holiday in US...will take it slow and very conservative when I fire again
  • #2,662
  • Feb 20, 2012 3:41am Feb 20, 2012 3:41am
Shermenator, can you explain what was the reason to open that long on EU?

Best regards,
Roman
  • #2,663
  • Feb 20, 2012 3:59am Feb 20, 2012 3:59am
Quoting magelan
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.

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UPDATE - PA hits my SL .. may be these long consolidation BASE is not so good ..
Profit Margin is the King!
  • #2,664
  • Edited 4:26am Feb 20, 2012 4:12am | Edited 4:26am
Quoting magelan
UPDATE - PA hits my SL .. may be these long consolidation BASE is not so good ..
I think the key thing is you are focusing on the correction being todays down move (lower odds)...the entire push up from sunday open is the current sentiment in the market.
  • #2,665
  • Feb 20, 2012 4:33am Feb 20, 2012 4:33am
Quoting RomSunZ
Shermenator, can you explain what was the reason to open that long on EU?

Best regards,
Roman
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Huge amount of demand here ....in the smaller timframe. I am also entering with the current uptrend
  • #2,666
  • Feb 20, 2012 4:52am Feb 20, 2012 4:52am
Hi Sher!
How many instruments are you watching in same time?
Sorry about my English
  • #2,667
  • Feb 20, 2012 4:56am Feb 20, 2012 4:56am
Quoting Shermenator
I think the key thing is you are focusing on the correction being todays down move (lower odds)...the entire push up from sunday open is the current sentiment in the market.
Yes HH LL we are in uptrend, I got confused because we was very near supply on H4 so I wa supposing a trend change.. Thanks for the input I appreciate it.
Profit Margin is the King!
  • #2,668
  • Feb 20, 2012 5:13am Feb 20, 2012 5:13am
Quoting ruten
Hi Sher!
How many instruments are you watching in same time?
Sorry about my English
Np man...dont worry my writing skills are bad haha...

Mainly 3... EUR,GBP,and AUDUSD
  • #2,669
  • Feb 20, 2012 5:16am Feb 20, 2012 5:16am
Quoting magelan
Yes HH LL we are in uptrend, I got confused because we was very near supply on H4 so I wa supposing a trend change.. Thanks for the input I appreciate it.
Its better to get caught at the top of a trend and take the hit. Then trying to figure out when it ends. Just keep pushing in that direction (thats what I try and do) very rarely will I stand in front of it. And If I do I am very very very picky...because if I take it and loose that means I broke my first theory of simply continuing pushing lol
  • #2,670
  • Feb 20, 2012 5:43am Feb 20, 2012 5:43am
Quoting Shermenator
Its better to get caught at the top of a trend and take the hit. Then trying to figure out when it ends. Just keep pushing in that direction (thats what I try and do) very rarely will I stand in front of it. And If I do I am very very very picky...because if I take it and loose that means I broke my first theory of simply continuing pushing lol
So my actions are wrong?....
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  • #2,671
  • Feb 20, 2012 5:47am Feb 20, 2012 5:47am
Quoting ruten
So my actions are wrong?....
Well I would not go as far as saying your action are wrong just different preferences. I would tend more to focus on what currently has the market in no balance being the buyers are in control, they are the current trend.
  • #2,672
  • Feb 20, 2012 6:27am Feb 20, 2012 6:27am
Quoting Shermenator
Well I would not go as far as saying your action are wrong just different preferences. I would tend more to focus on what currently has the market in no balance being the buyers are in control, they are the current trend.
I understand. Thank you.
I'll study...
  • #2,673
  • Feb 20, 2012 6:59am Feb 20, 2012 6:59am
Here is another trade I took...this was a scalp though. 1 to 1 trade got 9 pips

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  • #2,674
  • Feb 20, 2012 7:08am Feb 20, 2012 7:08am
Quoting Shermenator
Here is another trade I took...this was a scalp though. 1 to 1 trade got 9 pips

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Red line was my exit point
  • #2,675
  • Feb 20, 2012 7:16am Feb 20, 2012 7:16am
Quoting Shermenator
Attachment

Red line was my exit point
Nice with the trend. Don't try to stop the train ahh
Profit Margin is the King!
  • #2,676
  • Feb 20, 2012 7:26am Feb 20, 2012 7:26am
Quoting Shermenator

Red line was my exit point
Hurrah! I've got it! Level of Take profit was broken.
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  • #2,677
  • Feb 20, 2012 7:34am Feb 20, 2012 7:34am
Quoting magelan
Nice with the trend. Don't try to stop the train ahh
Watch out with them ...since they normally don't offer as good risk to reward. I am extremely picky about these...they can crush your account due to the poor return on investment so I have to be more of a sniper. With the higher time frame I can use a machine gun and get away with it due to the risk to reward. I also watch candle by candle to make fast decisions and adjust my stops very fast to minimize risk. I normally enter the the trade and don't stop starring at it lol (thats why I don't get them live here) usually with a lag lol. Since I only get 1 to 1 usually I need to try and minimize my risk so that in reality the trade is a little over 1 to 1.
  • #2,678
  • Feb 20, 2012 8:21am Feb 20, 2012 8:21am
Quoting Shermenator
Watch out with them ...since they normally don't offer as good risk to reward. I am extremely picky about these...they can crush your account due to the poor return on investment so I have to be more of a sniper. With the higher time frame I can use a machine gun and get away with it due to the risk to reward. I also watch candle by candle to make fast decisions and adjust my stops very fast to minimize risk. I normally enter the the trade and don't stop starring at it lol (thats why I don't get them live here) usually with a lag lol. Since I only...
Yeah, Got it. Profit margin is king - it can turn method with negative expectancy into wining method, the opposite is also true

Shermenator, share more on how do you manage trades after entry. In your previous trades I often see that you were moving SL to BE. When do you usually do that after reaching 1:1 R:R or maybe you watch out for different traits of the PA?
Profit Margin is the King!
  • #2,679
  • Feb 20, 2012 8:36am Feb 20, 2012 8:36am
Quoting magelan
Yeah, Got it. Profit margin is king - it can turn method with negative expectancy into wining method, the opposite is also true

Shermenator, share more on how do you manage trades after entry. In your previous trades I often see that you were moving SL to BE. When do you usually do that after reaching 1:1 R:R or maybe you watch out for different traits of the PA?
Well I don't move my stop based on pip movement or such. I moved my stop based on that if it is to go back to the new point chosen as stop the direction of the market should change. I also don't take partial profits unless I am pushing for 6 to1 or 9 to 1 type of trade (And usually I just move stop up not take profits). And if I take profits its always based where I believe opposite order flow should come into the market . Hope it made sence ( I also watch bar by bar to make decisions)
  • #2,680
  • Feb 20, 2012 10:53am Feb 20, 2012 10:53am
Ken (or anybody)

Do the swap levels always have to have a wick? I am guessing not, but am curious what others have to say. Also, with pivot highs and lows do we only take them when they have not penetrated the swap level too far? I am asking because Sam always says that we only take pivots when it is a shallow pullback to a level. He has also stated that pivots are only there because of a level first. Does this make sense? I am new so I am trying to put this together. I have watched the videos by Sam for years and am still trying to put this together.
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