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B.S. Trading with Kenneth Lee

  • #2,981
  • Mar 7, 2012 2:09am Mar 7, 2012 2:09am
Trade triggered this morning, reaction from the zone was muted so closed for a small loss.

Looking for a swap level on the lower time frame for a scalp up into supply around 1.0595 where will short.
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  • #2,982
  • Mar 7, 2012 2:12am Mar 7, 2012 2:12am
5 min swap level identified, lets see what happens!
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  • #2,983
  • Mar 7, 2012 2:54am Mar 7, 2012 2:54am
Swap level failed to hold and stopped out. Perhaps the earlier activity to the left weakended the zone and being counter to the main trend did not help either.

Anyhow, must not dwell on it.
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  • #2,984
  • Mar 7, 2012 3:30am Mar 7, 2012 3:30am
Quoting Rees
5 min swap level identified, lets see what happens!
Hi Rees,

I'm not sure why do you consider that as a swap. Why do you think so?
  • #2,985
  • Mar 7, 2012 3:50am Mar 7, 2012 3:50am
Hi, I am not an expert myself and at the early stages of testing the swap concept.

Following previous examples on this post: The failed 30 minute supply became demand and in order to capitalise on the immediate surge in price I went down to a lower time frame (in this case 5 minutes) to identify a set up that is at or near the break of the zone with a strong move away in price.

Although the overall trend is down, larger time frame supply is not close by and price had yet to hit the next 30 minute supply zone - so I took the trade.

If anyone believes I am talking absolute codswallop please let me know.
  • #2,986
  • Mar 7, 2012 4:21am Mar 7, 2012 4:21am
E/U one trade i made yesterday, a nice level on H4...the pair forming a nice cluster, my target is 90 Pips, SL on BE

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  • #2,987
  • Mar 7, 2012 4:59am Mar 7, 2012 4:59am
Quoting Rees
Hi, I am not an expert myself and at the early stages of testing the swap concept.

Following previous examples on this post: The failed 30 minute supply became demand and in order to capitalise on the immediate surge in price I went down to a lower time frame (in this case 5 minutes) to identify a set up that is at or near the break of the zone with a strong move away in price.

Although the overall trend is down, larger time frame supply is not close by and price had yet to hit the next 30 minute supply zone - so I took the trade.

If anyone...
Hi Rees,

thanks, I see what you mean know. I have to work on swaps, but I give you my vision on this. I think that what makes me feel strange about this swap is that I would look for it over the swap line, but not under the swap line. I mean, price breaks the base, and return there to that base to be rejected. But in this case, the price returns greatly and goes under the base. I have to investigate this deeply, although, 'cause are just almost intuitions.
Anyway, what I see more clearly is that the base you choose was not so much a base, but a first or second touch of other base, that even could be considerate also a touch of another hidden base.

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  • #2,988
  • Mar 7, 2012 5:31am Mar 7, 2012 5:31am
Hi Ken/others..

hope you all doing good and making pips...

just dropped in to say hi..

Cheers
Zamfir
  • #2,989
  • Mar 7, 2012 6:24am Mar 7, 2012 6:24am
Hi Okami,

I see exactly what you mean.

As you stated, my thought process was similar in that the base below the one I took had already been hit (so I discounted it). One could say the base I took was a first touch of the level on the left, although given the strength of the move away, price making a new high and the failure of 30 minute supply was enough in my analysis to take the trade.

Further testing of such set ups is needed but any advise/discussion regarding my trades is also very welcome.

Everyday's a school day, just gotta keep moving forward!
  • #2,990
  • Mar 7, 2012 7:26am Mar 7, 2012 7:26am
Quoting zamfir
Hi Ken/others..

hope you all doing good and making pips...

just dropped in to say hi..

Cheers
Zamfir
Hey Zamfir !!

Long time.. how r u doing ? hope your trading is going well

Tc mate !
Trade Smart
  • #2,991
  • Mar 7, 2012 7:33am Mar 7, 2012 7:33am
Quoting zamfir
Hi Ken/others..

hope you all doing good and making pips...

just dropped in to say hi..

Cheers
Zamfir
hey zamfir,

nice to read you again! I hope everything is all right and you squeeze the market out , we miss your wonderful charts
  • #2,992
  • Mar 7, 2012 8:07am Mar 7, 2012 8:07am
here is my latest struggle.. LOL sorry was asleep when i typed it up. so pretty messy.
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Good Trading To All ; Ken Lee
  • #2,993
  • Mar 7, 2012 8:15am Mar 7, 2012 8:15am
Quoting zamfir
Hi Ken/others..

hope you all doing good and making pips...

just dropped in to say hi..

Cheers
Zamfir

Nice to see you , hope all is well.. Cheers Ken
Good Trading To All ; Ken Lee
  • #2,994
  • Mar 7, 2012 8:45am Mar 7, 2012 8:45am
Quoting Kenneth Lee
here is my latest struggle.. LOL sorry was asleep when i typed it up. so pretty messy.
Ken, thanks for the analysis. I did take the lower level at 1.5708 and was hoping it would go up to the H1 supply zone around 1.5770. It spiked up to around 1.5760 then headed down so I bailed out for +10p before news today.

Seems like shorts are in control this week on the EU/GU/AU pairs. Been tough to catch a nice R:R trade at a good supply level as the retraces have been very shallow.

If prices bounce up off their respective round numbers here I am looking to short EU in the 1.3180-1.3200 supply zone.
  • #2,995
  • Mar 7, 2012 10:00am Mar 7, 2012 10:00am
Quoting Kenneth Lee
here is my latest struggle.. LOL sorry was asleep when i typed it up. so pretty messy.
By 'lower level', would you expect demand at 1.5700 to 1.5650 (4 hr chart)?

Thanks
  • #2,996
  • Mar 7, 2012 10:36am Mar 7, 2012 10:36am
Quoting ARW05
By 'lower level', would you expect demand at 1.5700 to 1.5650 (4 hr chart)?

Thanks

5670 is NOW the lower level, best rejection should be seen there. 5717 was the lower one I marked on the chart and was talking about yesterday .
Good Trading To All ; Ken Lee
  • #2,997
  • Mar 7, 2012 6:49pm Mar 7, 2012 6:49pm
Oz trade for today
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Good Trading To All ; Ken Lee
  • #2,998
  • Edited 7:27pm Mar 7, 2012 6:57pm | Edited 7:27pm
if anyone is wondering the way i figure my pips needed each week is simple math. For me it is nice to see how few i really need to achieve this goal. plus 4 20%'s a month doubles a account.

equity X 1.20 = ????
????? - current equity = gain goal
gain goal divide by what risk you can tolerate = pips needed

This weeks was 75 . kinda small risk is greater than normal.
normally hoovers around 100 pips. so 20 a day

Cheers Ken
Good Trading To All ; Ken Lee
  • #2,999
  • Mar 7, 2012 9:04pm Mar 7, 2012 9:04pm
another tiny trade , I may not post them all. but the key is that all trading revolves around supply and demand levels.
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Good Trading To All ; Ken Lee
  • #3,000
  • Mar 7, 2012 10:10pm Mar 7, 2012 10:10pm
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Waiting to be filled

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Waiting to be filled

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Took a MO on this long

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I missed the Yen short

Snap shot of my screen set up

TSD
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