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B.S. Trading with Kenneth Lee

  • #3,861
  • Edited 11:27am Jul 24, 2012 11:21am | Edited 11:27am
When you are seeing to much to process . search your chart time frames for a clearer picture . with screen time you start to see longer time Price Action because you know a 2 hr chart is 4 30 min candles . But it takes practice and time. But never feel rushed this is what you should spend your time doing not . searching for porn .... .. Sorry couldn't help myself..
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Good Trading To All ; Ken Lee
  • #3,862
  • Jul 24, 2012 9:52pm Jul 24, 2012 9:52pm
Hey can anyone point me to a post where it is described how to draw the width of a supply and demand levels? Would really appreciate it
  • #3,863
  • Jul 24, 2012 10:21pm Jul 24, 2012 10:21pm
Here you go:

Go to post # 1 in the thread. Look at the BS Trading pdf. Then look at the Romancing the Stop pdf.
  • #3,864
  • Jul 25, 2012 8:27am Jul 25, 2012 8:27am
Thank you Kenneth Lee for you pdf, really helpful. I mean Supply/Demand is a good thing but with your method I can get better entries and reduce my SL.

I try to trade it here on the 5min EURUSD but my pending order did not get triggered...
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  • #3,865
  • Jul 25, 2012 10:01am Jul 25, 2012 10:01am
Hi Ken, may I know what's your thought and what will you do when you see this kind of sloppy price action as I circled just above your level?

This is GBP/USD H4 chart. What do you think about the demand level?

Thanks a lot
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  • #3,866
  • Jul 25, 2012 12:21pm Jul 25, 2012 12:21pm
I just took a similar trade on Oz and got 20 should have held put i closed after it popped some supply that was holding it down 30 Min chart/ Entry was around 1.0265
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Good Trading To All ; Ken Lee
  • #3,867
  • Jul 25, 2012 12:22pm Jul 25, 2012 12:22pm
and the fact it stalled so long at that swap line would make very interested in the next level

Levels on Levels.
Good Trading To All ; Ken Lee
  • #3,868
  • Jul 25, 2012 9:25pm Jul 25, 2012 9:25pm
another small scalp i just closed on OZ, basically same trade as a/j but had some draw down.
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Good Trading To All ; Ken Lee
  • #3,869
  • Jul 25, 2012 11:08pm Jul 25, 2012 11:08pm
Quoting Kenneth Lee
I just took a similar trade on Oz and got 20 should have held put i closed after it popped some supply that was holding it down 30 Min chart/ Entry was around 1.0265

Hey Kenneth, what is the significance of the wicks in the chart pic that you circled "upper wick and lower wick at the swap level?
  • #3,870
  • Jul 25, 2012 11:39pm Jul 25, 2012 11:39pm
Quoting dappa
Hey Kenneth, what is the significance of the wicks in the chart pic that you circled "upper wick and lower wick at the swap level?
That there was a bit of equilibrium there. The same as if there had been a spinning top printed on the chart. We are always looking for the places where equilibrium breaks.

Because for price to move away from such a point . There has to be excess of supply or demand

This is how i see it anyway.. Just me 2 cents.
Good Trading To All ; Ken Lee
  • #3,871
  • Jul 25, 2012 11:53pm Jul 25, 2012 11:53pm
ok thanks. I read some where that wicks mean unfilled orders, is that true?
  • #3,872
  • Jul 26, 2012 3:47am Jul 26, 2012 3:47am
Quoting dappa
ok thanks. I read some where that wicks mean unfilled orders, is that true?

Thae I don't know
Good Trading To All ; Ken Lee
  • #3,873
  • Jul 26, 2012 9:21am Jul 26, 2012 9:21am
Quoting Kenneth Lee
and the fact it stalled so long at that swap line would make very interested in the next level

Levels on Levels.
Thanks for your reply Ken, got a clearer thought now. By the way, would you consider to pick the lower level if you see price stalled there? Although there's level on level, I often get rid of my pending order if this kind of situation shows up. In my opinion, a level will become weaker if price stalled or dance above the level.

What do you think? Will you pick that level?
  • #3,874
  • Jul 26, 2012 9:41am Jul 26, 2012 9:41am
Quoting antaly
Thanks for your reply Ken, got a clearer thought now. By the way, would you consider to pick the lower level if you see price stalled there? Although there's level on level, I often get rid of my pending order if this kind of situation shows up. In my opinion, a level will become weaker if price stalled or dance above the level.

What do you think? Will you pick that level?
I think it is stronger that is the idea behind levels on levels , as price pushes lower it takes some of the opposite side to get there being used up. so when it hit that new lowwer level where more demand orders are sitting they hey have less to overcome to turn price back . I always like where I can see a fresh level that price has been making samll turns beoe it hits it.
Good Trading To All ; Ken Lee
  • #3,875
  • Jul 26, 2012 9:53am Jul 26, 2012 9:53am
Quoting dappa
ok thanks. I read some where that wicks mean unfilled orders, is that true?
Wics do NOT mean unfilled orders.

A basic understanding is that wics are filled orders that were above the close and below the open of a bull candle/bar and below the close and above the open of a bear candle/bar.

Keep in mind that your chart will only be based on either the bid, the ask, or some calculation of the two (the average) so your candles don't actually represent exactly where price is or has been. This is where spread comes into play.
  • #3,876
  • Jul 26, 2012 10:27am Jul 26, 2012 10:27am
Quoting Kenneth Lee
I think it is stronger that is the idea behind levels on levels , as price pushes lower it takes some of the opposite side to get there being used up. so when it hit that new lowwer level where more demand orders are sitting they hey have less to overcome to turn price back . I always like where I can see a fresh level that price has been making samll turns beoe it hits it.
Thanks a lot for your reply, Ken.
Helps a lot.

Greatly appreciate.
  • #3,877
  • Jul 26, 2012 5:24pm Jul 26, 2012 5:24pm
Hi Ken and every body else.


Thank you for your pdf.
But sometimes i get wired how big should be the Supply and Demand Level.
I think i must read the pdf.s again because english is not my mother language.
I understand that the size of the S/D Level is big as the candle before the Rally or the Drop is that Right?


Here is a Trade i took on the 1H Chart NZDUSD i took him a little late but ithink it can be High Reward trade.
Please give me some Statement.


Thank you
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  • #3,878
  • Jul 26, 2012 9:28pm Jul 26, 2012 9:28pm
Quoting Rifouly
Hi Ken and every body else.


Thank you for your pdf.
But sometimes i get wired how big should be the Supply and Demand Level.
I think i must read the pdf.s again because english is not my mother language.
I understand that the size of the S/D Level is big as the candle before the Rally or the Drop is that Right?


Here is a Trade i took on the 1H Chart NZDUSD i took him a little late but ithink it can be High Reward trade.
Please give me some Statement.


Thank you
I understand that the size of the S/D Level is big as the candle before the Rally or the Drop is that Right?

No i is not the size of the candle it is the size of the area. That you can see where price moved back and forth, Because supply and demand are pretty equal. it is when this equilibrium is broken that we see the moves away from these areas and a level we are interested in forms.
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Good Trading To All ; Ken Lee
  • #3,879
  • Jul 27, 2012 12:42pm Jul 27, 2012 12:42pm
Quoting Kenneth Lee
I understand that the size of the S/D Level is big as the candle before the Rally or the Drop is that Right?

No i is not the size of the candle it is the size of the area. That you can see where price moved back and forth, Because supply and demand are pretty equal. it is when this equilibrium is broken that we see the moves away from these areas and a level we are interested in forms.

The pic where you created the square, shouldn't that be from high to low of the zone? Second is that what we should be looking for to identify a supply or demand zone?
  • #3,880
  • Jul 27, 2012 3:03pm Jul 27, 2012 3:03pm
One thing I could never understand Kenneth is when these levels are created , how is it that you can assume that there will be additional sell orders for supply orbuy orders for demand when price moves back to these levels?
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