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B.S. Trading with Kenneth Lee

  • #2,901
  • Mar 2, 2012 2:46am Mar 2, 2012 2:46am
CADJPY in a strong uptrend, waiting for a pullback to Demand at M5.
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  • #2,902
  • Mar 2, 2012 2:52am Mar 2, 2012 2:52am
Quoting bullzeye
this biatch i am out on BE...looks like the demand will consumed
E/U on the way down...

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  • #2,903
  • Mar 2, 2012 3:45am Mar 2, 2012 3:45am
EURUSD
Is this demand level?
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  • #2,904
  • Mar 2, 2012 3:47am Mar 2, 2012 3:47am
Quoting bullzeye
E/U on the way down...

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Like the fact you can stop and reverse ...not many people can do that. That took me a while to get it good.
  • #2,905
  • Mar 2, 2012 4:40am Mar 2, 2012 4:40am
EURAUD sold.
It should be Demand, really. But taking into consideration the general down mood of EUR I decided to wait. The candle #2 could not close above the body of the candle #1. And the candle #3 went down again. So, I sold, the risk was small. +1 pip protected now.
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  • #2,906
  • Mar 2, 2012 5:14am Mar 2, 2012 5:14am
EURUSD

Currently long in this trade
Scalping the market

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  • #2,907
  • Mar 2, 2012 6:49am Mar 2, 2012 6:49am
I cancelled Buy PO in CADJPY (#2901).
The price touched the level three times, every time a bit lower, but still missing PO. I'm afraid, the forth touch may be a break down.

Sold NZDUSD instead. It is a very similar situation, already the forth touch of Demand level on H1.
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  • #2,908
  • Mar 2, 2012 7:53am Mar 2, 2012 7:53am
some oz charts and idea , If your just watching a single chart for each pair so you can watch many on your screens make sure you do yourself a favor and mark them to show important details off the higher time frame charts. A color coding scheme will make it so you can glance and in a moment know that your within a major level and so a faster chart entries will become easy to take .
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Good Trading To All ; Ken Lee
  • #2,909
  • Mar 2, 2012 8:03am Mar 2, 2012 8:03am
If you just have to have a base to look at to trade. Just zoom down deeper in to your charts there is a base on 10 and 5 min , But the trade is off the 4hr your just looking for a entry off those faster times. I do trade the 30 min chart. but the best safest entries coincide with the levels off the higher time frames .

This is by know means any kind of new idea it is what you should have been learning and doing all your trading life.
Good Trading To All ; Ken Lee
  • #2,910
  • Mar 2, 2012 8:04am Mar 2, 2012 8:04am
Quoting Kenneth Lee
some oz charts and idea , If your just watching a single chart for each pair so you can watch many on your screens make sure you do yourself a favor and mark them to show important details off the higher time frame charts. A color coding scheme will make it so you can glance and in a moment know that your within a major level and so a faster chart entries will become easy to take .
Hi Ken,

Same here, its what i do, also for resistance (red) support (green) i use lines with different thickness (depend of the importance of the R/S Monthly, Daily weekly and so on...) and after like you, easy to zoom in H1 or M30.
Trade with the momentum
  • #2,911
  • Mar 2, 2012 8:13am Mar 2, 2012 8:13am
Quoting o990l6mh
Reading through your thread Ken, and liking it quite a bit. You've stayed with Seiden's concepts. They're the basis of my understanding of the markets as well.

Nowadays trading a trend following multiple timeframe approach and I'm going to spend this weekend trying to merge that with Seiden's/your approach.

Glad to have some old friends along with their views. I am by no means a expert but have always been on the search for the ideas that tend to make some common sense and have a simple approach. This one meets those criteria.

I was always really good at marking Support and resistance lines on my charts . But then failed miserably in taking the trades just couldn't see the why of it all. But with this even if it is a false sense I can see why and then the pinpoint spot of the levels.

I have always said that the true learning about trading is in SEEING, and we all tend to see a bit differently, But in the beginning we have no clue as what we are looking at so we start by listening to others and trying to see what they do. It isn't until we each start to clearly understand what we personally are making choices off of that we can truly grow and make our own trading ideas.

This is one reason i tend to show more a broad approach and not try and make trading calls . Most wouldn't take them anyway. I have seen that over and over . It is better for us each to learn to trust our choices anyway. What would happen if you started trading for a living off others calls and they up and quit ?

Sorry for the rant. ,, Just like folks to understand the direction of the thread as it is a learning tool. But like everything in life if we don't apply ourselves we really never grow.


But Welcome and look forward to your input. Ken
Good Trading To All ; Ken Lee
  • #2,912
  • Mar 2, 2012 8:20am Mar 2, 2012 8:20am
Quoting sailor68
Hi Ken,

Same here, its what i do, also for resistance (red) support (green) i use lines with different thickness (depend of the importance of the R/S Monthly, Daily weekly and so on...) and after like you, easy to zoom in H1 or M30.
I have actually left one chart alone that has support and resistance lines on it that are over a year and a half old now. That I like to compare Supply and Demand too.

They are close but not always. But old levels tend to always come back into play , I guess kinda of a comfort zone for price to migrate to. or just a mental block in people placing orders they just see the same number in their minds eye.

I am sure the mental aspect is known by most by now and how the bigger guys use every edge to their advantage , just think of any marketing you have ever seen, It is there for every aspect of our lives and to think it isn't involved in trading would be a mistake. Our job is to see what they are trying to sell to the masses and make better choices.

Cheers Ken
Good Trading To All ; Ken Lee
  • #2,913
  • Mar 2, 2012 9:20am Mar 2, 2012 9:20am
Quoting bullzeye
E/U on the way down...

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closed all positions here, enough for me

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  • #2,914
  • Mar 2, 2012 9:22am Mar 2, 2012 9:22am
USD/CHF will try this one now...

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  • #2,915
  • Mar 2, 2012 9:25am Mar 2, 2012 9:25am
A/U missed my buylimit so i went manually in, lil late but lets see...

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  • #2,916
  • Mar 2, 2012 9:42am Mar 2, 2012 9:42am
here is a small scalp I took , and the why. I was only looking for 20 pips to complete my weekly goal. These small trades can be found almost anytime of the day. Just take care and look closely.

I had typed about 4 paragraphs and then it closed by itself and I lost it oh well. Ken
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Good Trading To All ; Ken Lee
  • #2,917
  • Mar 2, 2012 9:47am Mar 2, 2012 9:47am
Quoting bullzeye
A/U missed my buylimit so i went manually in, lil late but lets see...

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Nice, I passed on this and it wasn't long before I was regretting it.
Good Trading To All ; Ken Lee
  • #2,918
  • Mar 2, 2012 11:27am Mar 2, 2012 11:27am
Quoting bullzeye
E/U on the way down...

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It's a super trade, man! Congrats, good luck!
  • #2,919
  • Mar 2, 2012 12:34pm Mar 2, 2012 12:34pm
hi kenneth
i have been following this thread since first day. I must say thank you because you make me feel like a trader. My question. The 50 ma you always use on your chart is for what? It might have been ask in the past but i have not seen any post about it. I wil be happy to hear from you.

Thank you
  • #2,920
  • Mar 2, 2012 12:45pm Mar 2, 2012 12:45pm
Quoting dortFX
hi kenneth
i have been following this thread since first day. I must say thank you because you make me feel like a trader. My question. The 50 ma you always use on your chart is for what? It might have been ask in the past but i have not seen any post about it. I wil be happy to hear from you.

Thank you

It is just a quick trend reference, On a lot of my charts their are a bunch of ma's from different ideas, Guess i need to clean house , i really never use ma's anymore .

I thought sam had mentioned the 50 MA , but I looked at all my saved files and don't see it.

I use swing highs and lows to determine trend in my trading.

Higher lows look for a long

Lower Highs look for a short.

But always look to the overall picture for a better edge.

The swings will start to flatten out as they start to turn.

Everyone have a great weekend. Ken
Good Trading To All ; Ken Lee
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