B.S. Trading with Kenneth Lee

loss / oz 3 pips

Did you enter by market? Looks like you would have profited if you had left a pending order.

yes i entry almost 100% on market. Need to do more PO trading. I think that would be the ultimate life making money absently. So you have more time for living.

You'll have to be overly confident though to leave a PO, if you are away from your PC

Well, there are well defined rules for placing a PO. Ken's pdf summarizes those "odd enhancers". Minimum score of the setup should be more than 8 for a PO.

Y'day I used a CAD/JPY PO and I didn't follow the PO rules and was stopped out.
I also lost few pips in EUR/USD. No winner y'day. One of those days when mind is not focused enough.

small Oz trade

While listening to ::

follow up.

Trying to learn some of your technic
TQ

May be tough as i trade when i have time , I get off at 10 pm eastern why i take these trades. Then try and get a couple more on my days off. But rarely trade what most folks consider prime trading times.

Good Luck Ken

update

have a "feeling" yen pairs are going to drop big time..

Appears that level was good for over 200 pips.

Is the attached EURGBP Daily Demand around 0.8250 on anybodys Watch List?

Caught +40 on USDJPY long from H1 demand zone at 82.143, there was two level so I combined them as one, but the first level held just fine.

ARW, you got that one absolutely right!

Cheers

Nice trade. I missed it and hesitated to enter late, so just watched it hit the target at the opposing M30 level. The fade from there would have been profitable too.

chart

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when trading levels on levels . like 3 behind 2, the safest play is always the last level. but you can also be left at the starting gate if 2 had been a runner. You could incorporate both into one trade entering partial or adjusting the trade to allow for a bit greater stop. Or splitting the difference on your entry to be above 2 a bit but below 3. Many ways to attack this issue just need to find the one your comfortable with .

Everyone have a great weekend.. cheers Ken

This was a post responding to trading times of day. Just thought I would share as it got overwhelming. LOL

Sure it would be.. But keep in mind the other times of days and look over your charts history. Late in the sessions as volume starts to slow down . and by volume i mean more and more traders are ending their day . so less trades are going on . This times of day we can start to see price consolidate and start to form flags and or triangle patterns which are nothing more than showing price action . Plus if you look you can see that price is turning at supply and demand levels. They just may be closer in ones we wouldn't normally consider.

Just like if we get a massive move the next entry might be a very shallow pullback to a very small base that many may not consider. But during HIGH volume busy times trends can be in high speed and and only during a speed bump can we join.

This is what I mean by time of day, You have heard it in the past try and trade the same time of day everyday, this way you can learn the particulars of that time. But I think it is better and will come to you to learn how the price action unfolds throughout the entire 24 hr cycle. This is what will allow you to trade when YOU have time.

Because most folks goal is to gain some freedom from this thing called trading.

I have studied only a few different trading ideas, All revolving around watching price actually unfold on the charts. This is has been a plus to me. As I moved from idea to another , I wasn't switching my overall idea but was able to see how the next idea was incorporated into the last.

If your personal trading idea isn't becoming clearer with your own studies of a trading system or idea. maybe your not on the right track for you. I have said many times that the key to this and most anything in your life revolves around the ability to truly SEE. But has to be what you see not what I or anyone else is trying to make you believe.

This is why I don't comment on indicators or such when people post them if it helps them to SEE more clearly more power to them. But if it raises more doubt or cripples them in anyway. What is the positive.

Sorry a bit of topic. But the main key is to try and see how orders could be moving during different times of the daily cycle , just as price movement tends to take a rest after large moves and the market adjust to the new levels. Or the erratic behavior after news releases, showing clearly the different views and abilities of different traders.

You can almost see the people that wrongly interpret the news followed by the correction then the bailing out by the ones wrong. if you watch it on a fast time frame and just try and think about what your seeing it is pretty clear. Then at long last it will settle into the true direction and can move for up to 12 or 24 hrs.

This is because as each session comes on they might continue with the trend the news started.

Try and put yourself into these moments and think about what your seeing price do. The more you do it the better at really seeing price action you become.

Just as when price moves near one of our levels. We can watch as price REACHES into the level and how it is aggressively pushed back , Then all of a sudden you can see price try to make a herculean attempt to go deeper. This is the price action we Love as then we enter as it has moved deeper into the stack of orders and the rejection maybe the best. It is also normally the closest to where we would place our stop so less risk. Also the last attempt was also what could have used up the last bit of the counter sides orders. Allowing the greater rejection we so desire.

This is what I mean when I say "I will be watching price action at certain levels."

Plus you can see this on any time frame chart. It is the price moving so it shows everywhere it isn't some entry signal.

Cheers Ken