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B.S. Trading with Kenneth Lee

  • #3,721
  • Jun 21, 2012 7:59am Jun 21, 2012 7:59am
chart.
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Good Trading To All ; Ken Lee
  • #3,722
  • Jun 21, 2012 8:09am Jun 21, 2012 8:09am
chart
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Good Trading To All ; Ken Lee
  • #3,723
  • Jun 23, 2012 11:14am Jun 23, 2012 11:14am
Is there an indicator which gives you the strong zone areas?
  • #3,724
  • Jun 23, 2012 11:21am Jun 23, 2012 11:21am
Quoting hariusa72
Is there an indicator which gives you the strong zone areas?
I don't use indicators ,, maybe someone else has a idea.. ken
Good Trading To All ; Ken Lee
  • #3,725
  • Jun 23, 2012 10:49pm Jun 23, 2012 10:49pm
Inserted Video


nice , award winning ad.
Good Trading To All ; Ken Lee
  • #3,726
  • Jun 24, 2012 10:05am Jun 24, 2012 10:05am
[quote nice , award winning ad.[/quote]

Very touching, loved it. Thanks for sharing.
The purpose of knowledge is action, not knowledge
  • #3,727
  • Jun 24, 2012 10:06pm Jun 24, 2012 10:06pm
Quoting hariusa72
Is there an indicator which gives you the strong zone areas?
Actually Ken uploaded a great indicator in this thread a while back that will give you the strongest levels that you can make a trade plan around. After he uploaded it he shows us how to use it.

I think he uploaded it in post #1. Try reading it then try reading the thread from that point till here. Might help a bit.
  • #3,728
  • Jun 25, 2012 11:09am Jun 25, 2012 11:09am
Hi Ken and all,

I need to know when considering the BIG PICTURE before enter to a trade, how it should be. Lets say when checking the daily charts, overall trend is up(for last month) but for last few days or last week the daily trend is down. So in this case what should be the trend that we consider(overall trend which is up or last week's trend which is down).


Thanx in Advance,
Ishara
  • #3,729
  • Jun 25, 2012 12:52pm Jun 25, 2012 12:52pm
Consider both yet neither.
Long term traders need the trend.
Shorterm traders don't need it as much.

Forex moves in waves. Even trends are in waves. Sell high buy low.
Getting a supply zone thats low on the curve is weaker than getting a demand zone thats low on the curve. Doesn't matter what the trend is.

The Odds Enhancer which speaks of how price arrives to the zone covers this partially. You want price to shoot towards your zone and become "overextended". If price travels far pretty quickly then theres a good chance that the your demand is low or your supply is high and thus are more likely to have a trade go positive early.

If you pick good zones and trade in the direction of the immediate trend then you will find that those trades will have larger payoffs.
If you pick good zones and trade in the opposing direction of the immediate trend then you will find those zones have smaller payoffs.

The most important thing is to pick a good zone.

Ken always said he watches PA before he takes a zone. If your zone is good then there will be resulting PA at which point you can decide what to do. I know for a fact this works on the 1h and lower TF. I don't know entry specifics for 4h and above because i never really looked into it.
  • #3,730
  • Jun 25, 2012 1:02pm Jun 25, 2012 1:02pm
something to consider :
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Good Trading To All ; Ken Lee
  • #3,731
  • Jun 25, 2012 1:05pm Jun 25, 2012 1:05pm
Quoting isharasjc
Hi Ken and all,

I need to know when considering the BIG PICTURE before enter to a trade, how it should be. Lets say when checking the daily charts, overall trend is up(for last month) but for last few days or last week the daily trend is down. So in this case what should be the trend that we consider(overall trend which is up or last week's trend which is down).


Thanx in Advance,
Ishara
What pair u talking about ... we will look

Plus every trend ends or stalls
Good Trading To All ; Ken Lee
  • #3,732
  • Jun 26, 2012 8:33pm Jun 26, 2012 8:33pm
Hi,

Could someone explain what is the difference between a pivot and a true supply/demand level? Because, sometimes I encountered from some Sam that he is indicating levels though it is a pivot.

TIA!
  • #3,733
  • Jun 26, 2012 11:10pm Jun 26, 2012 11:10pm
Quoting rivac7
Hi,

Could someone explain what is the difference between a pivot and a true supply/demand level? Because, sometimes I encountered from some Sam that he is indicating levels though it is a pivot.

TIA!
Chicken or the egg. There will be supply and demand without a pivot, and vice versa.

Supply and demand around a pivot could be stronger, but honestly just straight supply and demand works.
  • #3,734
  • Jun 27, 2012 12:26am Jun 27, 2012 12:26am
Quoting Verto
Chicken or the egg. There will be supply and demand without a pivot, and vice versa.

Supply and demand around a pivot could be stronger, but honestly just straight supply and demand works.
Appreciate your reply - great! one more thing, you are saying that a level in a pivot is what do they call rally base drop or drop base rally whilst level not in a pivot is the rally base rally and drop base drop which the former is the strongest,right?
  • #3,735
  • Jun 27, 2012 9:07am Jun 27, 2012 9:07am
Quoting rivac7
Hi,

Could someone explain what is the difference between a pivot and a true supply/demand level? Because, sometimes I encountered from some Sam that he is indicating levels though it is a pivot.

TIA!

Sometimes i think we have a problem of communication as . Pivots can be a apex of a swing or they can be the sum of the pivot indicator algorithm.

I personally don't believe the distinction of a term, indicates a supply or demand level.

I would look for S/D levels at the apex or edge of a swing . Top or Bottom during a ranging or slower market<

When we are seeing large candles and the price action is moving fast in one direction , Then catching a entry at a swap level or minor re-tracement at time is all we can do. Personally i like these as they seem a bit saver

But can be a bit allusive to see for many at first but with time and effort in veining become more clear.

Plus The time frame a person uses for picking levels will greatly affected what they see as quality levels.

I may be way of point with my thinking , But I just find terminology can cripple as well as help. it more important to understand and see Price Action than it is to label it.
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  • #3,736
  • Jun 27, 2012 8:54pm Jun 27, 2012 8:54pm
Quoting Kenneth Lee
Sometimes i think we have a problem of communication as . Pivots can be a apex of a swing or they can be the sum of the pivot indicator algorithm.

I personally don't believe the distinction of a term, indicates a supply or demand level.

I would look for S/D levels at the apex or edge of a swing . Top or Bottom during a ranging or slower market<

When we are seeing large candles and the price action is moving fast in one direction , Then catching a entry at a swap level or minor re-tracement at time is all we can do. Personally i like these...
Ken, so you are saying that commonly, peaks or generally term pivots are not a good level to put your entry, but it seems to me that the best level happens after a drop of price from a peak which usually formed between a drop or between a rally?
  • #3,737
  • Jun 28, 2012 3:10am Jun 28, 2012 3:10am
Quoting rivac7
Ken, so you are saying that commonly, peaks or generally term pivots are not a good level to put your entry, but it seems to me that the best level happens after a drop of price from a peak which usually formed between a drop or between a rally?

No I didn't say that ,, I think I said for different Price Action , you might look for different levels at different spots on the swing. again everyone wants a positive this or that . it doesn't exist. Sometimes one is better than the others.


I can't understand why folks don't use the odds enhancers to help decide their levels then practice . it will not take long for u to see what you personally see that works out. I am trying to help each to see . But ultimately we have to trust ourselves. They only way to achieve that is practice.

I look for the best move away from a equilibrium level as a good starting point. I personally also do very well trading during low volume slow periods . But only because i am good at knowing how Price action unfolds during those times. I understand when volume dries up price tends to consolidate and go into tight ranges that might make the levels that look unattractive workout.

Also knowing classic patterns such as triangles, flags and the such as these are just residual results of S/D levels coming into play. but they are a good measure of where price is heading, As they show good Price Action.

I use Supply and Demand levels for tighter entry spots than any other type of entry i have used in the past. But I never forsake the classic Price Action others look for either . This gives me a edge .
Good Trading To All ; Ken Lee
  • #3,738
  • Jun 28, 2012 3:13am Jun 28, 2012 3:13am
Quoting Kenneth Lee

I can't understand why folks don't use the odds enhancers to help decide their levels then practice . it will not take long for u to see what you personally see that works out. I am trying to help each to see . But ultimately we have to trust ourselves. They only way to achieve that is practice.
Well said. It seems like a lot of people at Forex Factory think that they will just magically become amazing traders overnight.

You need to practice. You need to put in the effort. You need to get your mindset in the proper place.

Someone can give you the golden key, but you still have to turn the lock.
  • #3,739
  • Jun 28, 2012 4:23am Jun 28, 2012 4:23am
Quoting Kenneth Lee
No I didn't say that ,, I think I said for different Price Action , you might look for different levels at different spots on the swing. again everyone wants a positive this or that . it doesn't exist. Sometimes one is better than the others.


I can't understand why folks don't use the odds enhancers to help decide their levels then practice . it will not take long for u to see what you personally see that works out. I am trying to help each to see . But ultimately we have to trust ourselves. They only way to achieve that is practice.

I look...
Appreciate... thanks for the reply..
  • #3,740
  • Jun 29, 2012 4:20am Jun 29, 2012 4:20am
hi ken, thank you so much for you posts on here,

i was wondering , with regards to the swap zones, when they are clean break through like below(even on lower time frames) how do we go about trading them
do we use previous support as our zone? or do we not trade them?
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