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B.S. Trading with Kenneth Lee

  • #3,201
  • Edited 10:39pm Mar 22, 2012 10:28pm | Edited 10:39pm
been using your teachings this week.

I don't believe I've had even one loss for this week. As you can see, for this week, it's been great.

I don't scale down or anything like that. i Just do 30 minute charts. using something like a 30->60 pip TP and a 30->60 pip SL. I only take the obvious long, long candle trades when price returns.

as per the picture i am attaching, some may be able to guess where I am looking to get in at the moment, and my stop losses and take profits (depending on which side price goes to first). as you can see, i hold on to the bitter end with the stop losses. i want to make sure I can survive any wick of any size. I only want to be stopped out if it's truly over and done...

edit: and one thing i want to add is, it is actually MUCH easier to trade this LIVE than it is to show a picture in hindsight. this is COMPLETELY opposite to a strategy full of indicators, where when you explain to someone in hindsight, everything seems easy enough, but LIVE trading sucks shit (as most of you already know). Trading this way is completely different. It's actually much easier to trade it LIVE than to explain to someone after the fact why you did what you did and when through a picture.
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  • #3,202
  • Mar 22, 2012 11:03pm Mar 22, 2012 11:03pm
My EU Level

Any suggestion need?
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  • #3,203
  • Mar 23, 2012 1:32am Mar 23, 2012 1:32am
bought a few YEN pairs

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  • #3,204
  • Mar 23, 2012 5:20am Mar 23, 2012 5:20am
A/U a small swapline-trade

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  • #3,205
  • Mar 23, 2012 6:50am Mar 23, 2012 6:50am
Quoting bullzeye
A/U a small swapline-trade

Attachment
target hit...nice weekend wish you all
  • #3,206
  • Mar 23, 2012 5:36pm Mar 23, 2012 5:36pm
Quoting save2008
My EU Level

Any suggestion need?
This is how I saw the level. I traded it as well, using the M30 because I liked the looks of it better on this time frame.

I lost but would do it again, it was a good trade.
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  • #3,207
  • Mar 23, 2012 5:36pm Mar 23, 2012 5:36pm
Quoting bullzeye
bought a few YEN pairs

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Hey Bullzeye,

I like your use of trend lines. Appears to help determine the correct level of were price may turn. Would this be a fair assumption ??

TSD
  • #3,208
  • Mar 23, 2012 6:26pm Mar 23, 2012 6:26pm
hi frank,

Yes, i lost that trade too. although i put in a 50 pip Tp and SL. I was unwilling to abandon the trade unless it made a higher high and then some. which it ultimately did. but you're right, i think regarding supply and demand trading, all of us absolutely would have taken this trade.

Quoting frankkn
This is how I saw the level. I traded it as well, using the M30 because I liked the looks of it better on this time frame.

I lost but would do it again, it was a good trade.
  • #3,209
  • Mar 23, 2012 6:31pm Mar 23, 2012 6:31pm
Quoting chiba_san
hi frank,

Yes, i lost that trade too. although i put in a 50 pip Tp and SL. I was unwilling to abandon the trade unless it made a higher high and then some. which it ultimately did. but you're right, i think regarding supply and demand trading, all of us absolutely would have taken this trade.
My stop was roughly 18 pips. When you close half at break even (or enter two positions, one with a target of 18 pips) you can hang in there for better RR

Everyone's different, but I feel that having a better RR makes dealing with the losers much more manageable.
  • #3,210
  • Mar 24, 2012 12:06pm Mar 24, 2012 12:06pm
Got the new computer , Now doing all the stuff you have to do before actually using it .. Downloading virus ware and such and setting up all the bits and pieces.

Finding new drivers for windows 7 ,, blah,blah,BLAH.............

Plus windows is new to me been using xp forever. But seems simple enough.


Hope everyone is having a great weekend. cheers Ken
Good Trading To All ; Ken Lee
  • #3,211
  • Mar 24, 2012 3:15pm Mar 24, 2012 3:15pm
Anyone here have experience trading mt4 from an Android smart pad?

I am looking for ways to trade from my truck while working. :nerd:
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,212
  • Mar 24, 2012 5:02pm Mar 24, 2012 5:02pm
Quoting Rufus
Anyone here have experience trading mt4 from an Android smart pad?

I am looking for ways to trade from my truck while working. :nerd:
lol hopefully not while driving at the same time
  • #3,213
  • Mar 24, 2012 5:16pm Mar 24, 2012 5:16pm
I have a DroidX and use Trade Interceptor for charting and Oanda's app for order entry
  • #3,214
  • Mar 24, 2012 5:22pm Mar 24, 2012 5:22pm
hi kenneth,

near the end of your pdf, you mention, you know of no one who makes money trading afternoon, and that trading in the first 45 minutes to one hour gives the best chance. do you mean USA open? Because not all of us are in usa or uk...
  • #3,215
  • Mar 24, 2012 6:28pm Mar 24, 2012 6:28pm
Quoting frankkn
I have a DroidX and use Trade Interceptor for charting and Oanda's app for order entry

Does it work well for you? Is charting any issue for laying out simple S/D?

I spend so much time at work or home tired out from work lately. Considering this as an alternative to desk time. Possibly lay out zones and orders when the work day is finished then head home........Just for the record no trading and driving .

Also moving from pair to pair on the charts. Easy?
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,216
  • Mar 24, 2012 6:32pm Mar 24, 2012 6:32pm
Quoting chiba_san
hi kenneth,

near the end of your pdf, you mention, you know of no one who makes money trading afternoon, and that trading in the first 45 minutes to one hour gives the best chance. do you mean USA open? Because not all of us are in usa or uk...
I believe he is refering to US, UK, and sometimes Tokyo. Just means you trade weird hours. 5pm, 12pm, 5am for me. That is when I have computer time
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,217
  • Mar 24, 2012 6:39pm Mar 24, 2012 6:39pm
Quoting Rufus
Does it work well for you? Is charting any issue for laying out simple S/D?

I spend so much time at work or home tired out from work lately. Considering this as an alternative to desk time. Possibly lay out zones and orders when the work day is finished then head home........Just for the record no trading and driving .

Also moving from pair to pair on the charts. Easy?
I trade nothing but SD, and have no prob.

I draw my weekly/daily SD map and set sms alerts using DailyFX's free thing.

TradeInterceptor allows you to choose from a bunch of brokers for your feed, I go with FXCM.

Other than that all I use is a pen and paper for writing down specific levels from TI to input into Oanda. I always use two orders when doing this (something I've been posting a lot recently) so I can take half at 1R because if I'm entering orders like this I won't be around to babysit.

So basically I don't really lay out new zones, aside from my entry time frame, using the apps. Not like you really need to draw them anyway. A crosshair cursor does the trick for me.
  • #3,218
  • Mar 24, 2012 6:59pm Mar 24, 2012 6:59pm
Quoting frankkn
I trade nothing but SD, and have no prob.

I draw my weekly/daily SD map and set sms alerts using DailyFX's free thing.

TradeInterceptor allows you to choose from a bunch of brokers for your feed, I go with FXCM.

Other than that all I use is a pen and paper for writing down specific levels from TI to input into Oanda. I always use two orders when doing this (something I've been posting a lot recently) so I can take half at 1R because if I'm entering orders like this I won't be around to babysit.

So basically I don't really lay out new zones,...
Thanks a lot

I will continue to look into it.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #3,219
  • Mar 24, 2012 9:25pm Mar 24, 2012 9:25pm
Quoting chiba_san
hi kenneth,

near the end of your pdf, you mention, you know of no one who makes money trading afternoon, and that trading in the first 45 minutes to one hour gives the best chance. do you mean USA open? Because not all of us are in usa or uk...
''

That is weird, Because I rarely trade any session opens. and I trade anytime i get a chance.

Knowing the Supply and Demand levels you can normally get a trade almost anytime of day . the size just isn't as big. , You can at time get ina trade before a sesion starts and maybe be in it before the initial move starts .

This is one reason My trades are small in the scheme of things.


Cheers Ken
Good Trading To All ; Ken Lee
  • #3,220
  • Mar 24, 2012 10:41pm Mar 24, 2012 10:41pm
Quoting chiba_san
trading in the first 45 minutes to one hour gives the best chance.
Think about what SD represents.

Only a shit load of orders can cause one. The best zones are those that have outstanding unfilled orders in addition to being obvious points of reference to all kinds of PA traders.

So with this in mind, the smaller TF zones that appear around market opens (not just the US) are easily the most valid, as banks and institutions are busy putting on their orders as well as those of clients.

Edit

But remember this is in context of the larger TF S/D structure
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