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B.S. Trading with Kenneth Lee

  • #3,021
  • Mar 8, 2012 6:52am Mar 8, 2012 6:52am
There is a small level at 1.0626 had a decent move away from it and with this strong long move might be worth a shot , but could give way easy so be prepared to bail.
Good Trading To All ; Ken Lee
  • #3,022
  • Mar 8, 2012 6:57am Mar 8, 2012 6:57am
I will almost 100% of the time will take a entry off the 4 hr levels as they will almost always at least bounce , especially when with the trend . Oz had made a lower low and this would be the spot for a great lower high. it has already BOUNCED over 30 pips. would have finished my week.

Woulda Coulda , Didn't
Good Trading To All ; Ken Lee
  • #3,023
  • Mar 8, 2012 7:00am Mar 8, 2012 7:00am
Forgot to add in my previous post that price has sold off having rallied up to daily supply. Perhaps this may be a signal for downtrend resumption (on the daily) or maybe a short-term sell off before continuation of the intraday bullish bias?

Either way will monitor price action to decide.
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  • #3,024
  • Mar 8, 2012 7:00am Mar 8, 2012 7:00am
The lower entry line on oz was 1.0665 was hit almost spot on , If you look at a fast chart you can see how it had to STRETCH to hit it then fell back quickly and price couldn't get there again. YET , But each attempt will use up more of that supply
Good Trading To All ; Ken Lee
  • #3,025
  • Mar 8, 2012 7:12am Mar 8, 2012 7:12am
Closed the remainder of GBP/USD long for +12 as momentum waning
  • #3,026
  • Mar 8, 2012 9:53am Mar 8, 2012 9:53am
Quoting TraderinSD
Attachment

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

3 Set ups ... 3 losses.. Surprising, all these set ups looked good.

Any thoughts ???

Just one of those days.

TSD
  • #3,027
  • Mar 8, 2012 10:46am Mar 8, 2012 10:46am
Thursday scalp. I have posted all my trads this week except for one I took like 2 pips in the middle of that oz news candle went short and it started back up so bailed . I did not count that or show it because it wasn't S/D trading

I now only need 9 pips to finish the 20% gain for this week . This is what i try and tell folks it doesn't have to be stressful , I trade when i have time try and trade when I am not tired and normally can find something at almost any time of day. yes bigger trades would be great but , I can't complain about this either.

Sometimes I am glad I miss the London Frankfurt opens as I might have been trying to turn back the pairs as well. Sometimes you have to think the 4hr guys know better. If I could get past that stop size.. LOL.

Cheers ken
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Good Trading To All ; Ken Lee
  • #3,028
  • Mar 8, 2012 11:13am Mar 8, 2012 11:13am
The above trade a stop could have been moved to BE and you might get the break higher. At this pint in my trading I am still building equity to start trading for a living again very soon . So my main focus is a steady percent gain each week. I know it is all relevant but i also know from experience once the account gets to the size that i don't feel like i need every trade i will hold more and move to BE. But right now i need to get done working for others again.

I may not show many of my trades going forward as it maybe counter productive to others . But I think doing this for myself is good thing I have a journal showing all the trades and any common thing will show up quickly, Then I can focus on that one set up or entry that is troubling.
Good Trading To All ; Ken Lee
  • #3,029
  • Mar 8, 2012 11:37am Mar 8, 2012 11:37am
Hi guys!
Today was a naughty women's day!
  • #3,030
  • Mar 8, 2012 12:08pm Mar 8, 2012 12:08pm
Quoting Kenneth Lee
I may not show many of my trades going forward as it maybe counter productive to others . But I think doing this for myself is good thing I have a journal showing all the trades and any common thing will show up quickly, Then I can focus on that one set up or entry that is troubling.
I, for one, appreciate the charts you post wether they are past trades or examples of trades. It's always good to see how you trade and choose your levels. For every one person that would be affected negatively in whatever way by seeing your trades there is another person that will be affected positively to the same degree. Do it for yourself. Others will see your growth and grow along side you if their at a place in there lives which makes it possible.
  • #3,031
  • Mar 8, 2012 1:04pm Mar 8, 2012 1:04pm
Quoting okami
SL touched. -32pips (-2.5%)

Maybe it was not a good level?
Maybe should I cut the trade when it hesitates so much time in the zone, or when it started to get high momentum?

Or it was a good level, and it was well managed, but being a probability game, just some levels have to not hold?

What do you think? how would you trade this?

Attachment
It was not a good level. Why, you were too low on the higher time frame supply and demand curve. The trend changes at higher time frame supply and demand. You were trying to sell at a supply level right after price had reacted to a Daily demand level. In other words you were selling into larger time frame demand. That is financial suicide.

This is a great thread and Ken has put a lot of work into it. But what I don't see time and time again is enough analysis of higher time frame supply and demand used to know how well you are positioned on the higher time frame curve. If you don't you will drain your account, its as simple as that.
  • #3,032
  • Mar 8, 2012 3:57pm Mar 8, 2012 3:57pm
Quoting Kenneth Lee
Thursday scalp. I have posted all my trads this week except for one I took like 2 pips in the middle of that oz news candle went short and it started back up so bailed . I did not count that or show it because it wasn't S/D trading

I now only need 9 pips to finish the 20% gain for this week . This is what i try and tell folks it doesn't have to be stressful , I trade when i have time try and trade when I am not tired and normally can find something at almost any time of day. yes bigger trades would be great but , I can't complain about this either....
What kind of R/R are you averaging with these small scalps and low number of pips for 20%?
  • #3,033
  • Mar 8, 2012 4:59pm Mar 8, 2012 4:59pm
Quoting grooler
What kind of R/R are you averaging with these small scalps and low number of pips for 20%?
A lot is said about risk reward, But you rarely if ever hear me say much at all about it. I like to see the min. 2to 1 drop out of a level. but a Planned risk reward doesn't alway7s workout. Normally i do look for my trade to go to the opposing level off my 30 min chart which is normally at least 2 to1.

As seen this week I have not averaged that. But my mentality of trading is different to what others will be as will be yours . if I was trading as a investment and not trying to live off it . I am sure my ideas of profit taking would change.

Though not trying to get what you can per week , would seem silly. I guess i am not answering your question, but just think if you needed 20 pips a day and you can see 40 pip 2:1 trades easily why not close a bit soon and guarantee the 20.

I never claimed to be a great trade just to understand what needs to be done and seen to take good entries. One of those tri8ple a entries i got this week would have completed the week in one trade. That is always the goal and it will come . I am a lot better at profits than I used to be.

That is why i am downloading all my trades once i see in black and white that 90% could produce double the gains i think it will help light a fire under my butt, to do better . at least that is the thinking.

Cheers Ken
Good Trading To All ; Ken Lee
  • #3,034
  • Mar 8, 2012 5:05pm Mar 8, 2012 5:05pm
Just another thought on the above I look and normally find a stop of about 15 to 20 pips , This is what i am thinking about when I take a trade . That I can lose that much. it is also what i think about when i pick my trading per pip risk. I have said in the past I normally trade 2 dollars per thousand of my account balance my percentage hit rate is high enough for me to feel safe about doing that ..

I look to be able to loss about 100 pips before I would reduce that risk which would be 5 losers in a row . not likely trading this way. Now this is how I do it , maybe right maybe wrong but we each have to live with our own choices . mine is a bit tough for most . I also know as i get into more lots per pip i will scale this back and probably set my risk per pip on automatic so it is adjusted after every trade. I have seen so many hit different walls to increase their risk and want to try and avoid it. Will probably scale back to 1.5 per thousand. then.
Good Trading To All ; Ken Lee
  • #3,035
  • Mar 8, 2012 10:06pm Mar 8, 2012 10:06pm
Thanks for the response, been following this thread for a while now and getting better at finding the right set up but still not sure about the money management part. Something i completely failed at last attempt at trading stock options, would have a lot of small gains then one big loss. Been demoing this for a little while but want to make it as real as possible before I go live so it is more stress free.......Plus if i can show the wife I am profitable in demo it will be much easier getting the money to open an account
  • #3,036
  • Mar 9, 2012 12:13am Mar 9, 2012 12:13am
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Currenly long on a MO

TSD
  • #3,037
  • Mar 9, 2012 8:08am Mar 9, 2012 8:08am
That's it Folks..
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Good Trading To All ; Ken Lee
  • #3,038
  • Mar 9, 2012 8:14am Mar 9, 2012 8:14am
I was collecting Short positions in GBPUSD today, after the price went deep down through the Swap level and came back to it from below. To tell the truth, I absolutely forgot about NPF. Could be bad luck, but was a good one. Two trades already closed at TP, two running with trailing stops.

SHort EURUSD was opened because price was dancing close to the Demand level. When H1 candle closed lower, I sold the pair. TP was hit, even didn't have a possibility to move TP lower.
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  • #3,039
  • Mar 9, 2012 8:16am Mar 9, 2012 8:16am
Charts above are messed up the bottom should be top.
Hope everyone has a great weekend .. New goal next week.

Cheers Ken
Good Trading To All ; Ken Lee
  • #3,040
  • Mar 9, 2012 8:24am Mar 9, 2012 8:24am
Quoting Shaltay
I was collecting Short positions in GBPUSD today, after the price went deep down through the Swap level and came back to it from below. To tell the truth, I absolutely forgot about NPF. Could be bad luck, but was a good one. Two trades already closed at TP, two running with trailing stops.

SHort EURUSD was opened because price was dancing close to the Demand level. When H1 candle closed lower, I sold the pair. TP was hit, even didn't have a possibility to move TP lower.

Awesome
Good Trading To All ; Ken Lee
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