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B.S. Trading with Kenneth Lee

  • #3,061
  • Mar 11, 2012 4:23pm Mar 11, 2012 4:23pm
Quoting alterchristo
sorry okami, I borrow your pic.
hehehe

and nice job there, Okami.

here's my sight about EU's PA.
this patter i found very often.

first price make a demand, then rally,
next, price retest to that demand and form a new demand before it go rally and make a higher high... (this higher high is a "must" condition for me)

the position I took is when the price retest to the newest demand..

this also work in any tf any pair... with good probability of sucess

do not forget to see the bigger picture to flow with the trend

AC
I wish there was a ''Like'' button. Nice walk-through on higher-time frame. Without taking anything away from Ken, to whom I'm grateful for this thread and all his work (pdf et all), I do agree that there is a lack of analysis and understanding of trades in the context of higher time-frame: it is the issue I am struggling most with at the moment, so, welcome this [relevant] contribution in particular.

peace
  • #3,062
  • Mar 11, 2012 4:32pm Mar 11, 2012 4:32pm
Quoting livindaylite
I wish there was a ''Like'' button. Nice walk-through on higher-time frame. Without taking anything away from Ken, to whom I'm grateful for this thread and all his work (pdf et all), I do agree that there is a lack of analysis and understanding of trades in the context of higher time-frame: it is the issue I am struggling most with at the moment, so, welcome this [relevant] contribution in particular.

peace
Spend some time watching some Sam Seiden Videos. Here is the latest. I consider it a gem. He shares some things in here about swing highs and lows that can be an eye opener for some.

"Pivot high or low can never be a fresh level, can certainly get a turn at those prices and we do, but that's not the fresh supply or demand, those are pull backs into the origin of levels."

http://www.fxstreet.com/webinars/ses...9-ad35e901734e

The latest
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,063
  • Mar 11, 2012 4:34pm Mar 11, 2012 4:34pm
Quoting alterchristo
sorry okami, I borrow your pic.
hehehe

and nice job there, Okami.

here's my sight about EU's PA.
this patter i found very often.

first price make a demand, then rally,
next, price retest to that demand and form a new demand before it go rally and make a higher high... (this higher high is a "must" condition for me)

the position I took is when the price retest to the newest demand..

this also work in any tf any pair... with good probability of sucess

do not forget to see the bigger picture to flow with the trend

AC
Thanks AC,

no problem with the chart. Use them when you want.

Yeah, very interesting what you explained! I tried to find some other occurrences of the pattern. I found something similar looking the audusd. They're examples from 2003 and 2007, but not cherry picked. Just started to look the historical from the start and was not very difficult to find them.
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  • #3,064
  • Mar 11, 2012 6:50pm Mar 11, 2012 6:50pm
Three more. Last one a short.
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  • #3,065
  • Mar 12, 2012 4:31am Mar 12, 2012 4:31am
I hope that this sell zone on M30 is high enough on the supply/demand curve to be considered high-probability. About half-way on the 4hourly swing high/low. And seems there are a couple M30 supply zones that fall into those 50 and 62 fib retracements.

I have to go to MT4 to see demand zone around 1.3050
Still new to OANDA and while there is much I appreciate about it; its charting capacity is not one of them. Finding it VERY hard to identify zones on smaller timeframes looking left as most falls off the screen. Any tips and suggestions in that regard that could be helpful, welcomed too.
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  • #3,066
  • Mar 12, 2012 5:20am Mar 12, 2012 5:20am
Quoting okami
Three more. Last one a short.
hee hee,
thank you for the examples...

AC
Simplicity Is The Ultimate Sophistication ~LDV~
  • #3,067
  • Mar 12, 2012 10:31am Mar 12, 2012 10:31am
Well that e/u long did not do what i was thinking. i did babysit it till 5 am and closed with 5 pips , Not counting that for anything,

The thought on e/u was that at open it would move up about 20 or 30 pips letting me move my stop up. But it didn't. So closed it since it just seems to be meandering without much direction .

Goal this week is around 100 pips pretty normal. but after 12 or so will increase my position size have set spots where i do that. So just under a 100 might make it to 20%. We will see
Good Trading To All ; Ken Lee
  • #3,068
  • Mar 12, 2012 12:57pm Mar 12, 2012 12:57pm
well only took e/u a extra day to do what i was thinking ..
Good Trading To All ; Ken Lee
  • #3,069
  • Mar 13, 2012 12:43am Mar 13, 2012 12:43am
Quoting Kenneth Lee
well only took e/u a extra day to do what i was thinking ..
So what do you think about it? will it go higher than 1.3290 ?
  • #3,070
  • Mar 13, 2012 12:55am Mar 13, 2012 12:55am
here are my first small trade of the week, i now have raised my position size so don't really need to 78 to achieve 20% only 68 or so, but we will leave it be. A 100 Pips is a good goal.
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Good Trading To All ; Ken Lee
  • #3,071
  • Mar 13, 2012 12:57am Mar 13, 2012 12:57am
Quoting YouGee
So what do you think about it? will it go higher than 1.3290 ?
well it made a lower low on the 4hr it was during low volume so could have just drifted out of bounds. i will watch price action when i am around, may look to enter long
Good Trading To All ; Ken Lee
  • #3,072
  • Mar 13, 2012 2:51am Mar 13, 2012 2:51am
sorry but what do u mean about 95 pips to 20% after -17 pips and = 78 pips. is it profit u calculate or what. can u tell me. thank
  • #3,073
  • Mar 13, 2012 3:35am Mar 13, 2012 3:35am
Anybody got this one?

First decent base on that drop from March 9th. Visible on M5.
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  • #3,074
  • Mar 13, 2012 4:22am Mar 13, 2012 4:22am
Quoting hcristea
Anybody got this one?

First decent base on that drop from March 9th. Visible on M5.
Yes, see my post yesterday 09:31

I like how you put close up of demand in your picture. Nice idea!
(have to think how you did that )
  • #3,075
  • Mar 13, 2012 6:29am Mar 13, 2012 6:29am
Quoting livindaylite
I like how you put close up of demand in your picture. Nice idea!
(have to think how you did that )
I use a screen capture software called SnagIt. Captured the M5 chart, crop + copy + paste over the M30 capture. Then I put a red rectangle around the M5 crop for better visibility
  • #3,076
  • Edited 7:18am Mar 13, 2012 6:33am | Edited 7:18am
Long EURUSD from 1.3117.
The level is a mess, but more demands than supplies, hope it will hold the price.

On D1 it looks like testing again a Swap level in a widening channel. The price is close to the very bottom of the channel now, so it may be a decisive moment - either definitely up, or definitely down.

Oops, goes quickly. Long stopped, Short opened.
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  • #3,077
  • Mar 13, 2012 6:39am Mar 13, 2012 6:39am
Quoting hcristea
I use a screen capture software called SnagIt. Captured the M5 chart, crop + copy + paste over the M30 capture. Then I put a red rectangle around the M5 crop for better visibility
That makes sense and the result is worth it.

Thx
  • #3,078
  • Mar 13, 2012 8:16am Mar 13, 2012 8:16am
quote of the day.

If you could take a daily pill that would profoundly speed-up the manifestation of all your dreams, would you take it without fail?

I thought so.

What if it was a big, ugly pill that took 5 minutes to dissolve on your tongue, and it tasted like medicine. Would you still do it?

Yes, all of your dreams...

Thought so.

But what if during those 5 minutes each day you couldn't watch TV, or talk with friends, or distract yourself in any way from your chore?

Wow, you must really want a fabulous riches, and all those other awesome life changes!

OK, what if you could skip the pill bit entirely, but instead you had to set aside 5 minutes a day to visualize, in a dark and quiet room, seeing your life unfold as if all your dreams were coming true, and for good measure you had to say or do something, each day, that implied the same?

No, you can't go back to the pill idea.

Yours,
The Universe
Good Trading To All ; Ken Lee
  • #3,079
  • Mar 13, 2012 8:37am Mar 13, 2012 8:37am
Quoting ratibor
sorry but what do u mean about 95 pips to 20% after -17 pips and = 78 pips. is it profit u calculate or what. can u tell me. thank

I have started a project for myself that i am also sharing here for the time being. Each week i calculate what a 20% increase in equity is. Then based on how much per pip I am willing to risk. I come up with a amount of pips to reach that goal. So now i need 78 to hit my 20%.

I am doing this more to identify certain trading errors that i need to correct , i have decided i will do this going forward as a normal event. like a trading journal but out of screen shots.

We each have to come up with a way to move forward on our own, Sharing information is great but ultimately we have to learn to develop ourselves and our own style of trading. I can get my needs met by scaloing these small trades but in reality these scalps are a lot larger than in the past. i have moved to a 30 min chart which has helped.

Plus i do let some run a decent distance. But seeing the truth printed in my journal will give a need boost in trying to hold longer.

Plus i hope it helps peole to see my entries and I am trying to add comments as to what i was thinking to take trades and why i closed.

Damn what caused all these waste of cyber space. Lol Ken
Good Trading To All ; Ken Lee
  • #3,080
  • Mar 13, 2012 9:01am Mar 13, 2012 9:01am
Guess i could feel badly about closing my shorts to soon last night , but the entries i took and the profits as well were solid. The new bases and levels they formed were tested later and that was the true entries for the longer down swing.

It is clear to me on the 30 min . this is what happens again and again on our charts. The first turn of price and the first level to support that turn.

This is what some look to faster charts to see but it is just as clear on slower charts as well.
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Good Trading To All ; Ken Lee
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