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B.S. Trading with Kenneth Lee

  • #3,941
  • Aug 14, 2012 8:15am Aug 14, 2012 8:15am
I'm still in this trade as well. Not sure why OANDA spreads go so crazy during news events.

Banked 2/3 and keeping 1/3 on the table with the daily bias, just in case we get a runner.
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  • #3,942
  • Aug 14, 2012 8:17am Aug 14, 2012 8:17am
Quoting C-12
I'm still in this trade as well. Not sure why OANDA spreads go so crazy during news events.

Banked 2/3 and keeping 1/3 on the table with the daily bias, just in case we get a runner.

Every broker has their own way of dealing with auto click traders
automated entry systems during news
i prefer the widening of spreads verses slipping or re quoting orders . at least with Oanda u can get out or in when you want to.
Good Trading To All ; Ken Lee
  • #3,943
  • Aug 14, 2012 8:23am Aug 14, 2012 8:23am
Quoting Kenneth Lee
Every broker has their own way of dealing with auto click traders
automated entry systems during news
i prefer the widening of spreads verses slipping or re quoting orders . at least with Oanda u can get out or in when you want to.
Yes good point. The only downside I remember was that the spreads were kept wide long after the news event. Although that was a while ago now. Not used my account for a while.
  • #3,944
  • Aug 14, 2012 8:34am Aug 14, 2012 8:34am
Quoting C-12
I'm still in this trade as well. Not sure why OANDA spreads go so crazy during news events.

Banked 2/3 and keeping 1/3 on the table with the daily bias, just in case we get a runner.
Hey C , help me out here a bit ... I have been struggling with how to put that upper and lower line around the particular level ... In this chart , you have drawn two demand zones ... What are the rulez to put those lines ??? The indi you referred to me for practice was not good ... Did not draw many major levels ...
Human
  • #3,945
  • Aug 14, 2012 8:52am Aug 14, 2012 8:52am
Quoting Chanya
Hey C , help me out here a bit ... I have been struggling with how to put that upper and lower line around the particular level ... In this chart , you have drawn two demand zones ... What are the rulez to put those lines ??? The indi you referred to me for practice was not good ... Did not draw many major levels ...
Chanya, the first thing I look for is how price moved away from the area. You want to see it move away with power.

You can then wrap your lines around the candle bodies and upper wicks (for supply) and candle bodies and lower wicks for demand.
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  • #3,946
  • Aug 14, 2012 8:59am Aug 14, 2012 8:59am
Then you want to see the area as fresh as possible (Untested ideally) but the 2nd test can be good. Here's the daily GBPUSD
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  • #3,947
  • Aug 14, 2012 9:11am Aug 14, 2012 9:11am
Lastly, watch your higher time frame levels to the one you are trading off.

The best trades are when you are aligned. A H4 supply level inside a weekly and a daily supply level is a great place to be going short for example.

Here's what my charting setup looks like so I can always keep an eye on what's going on higher time frames.
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  • #3,948
  • Aug 14, 2012 9:34am Aug 14, 2012 9:34am
Quoting C-12
Then you want to see the area as fresh as possible (Untested ideally) but the 2nd test can be good. Here's the daily GBPUSD
Where would you take profit if you took profit based on this untested Demand ??? Plus , how do we know if a level is still valid after first test ??? I have seen lame zones hold more then thrice at a time and awesome ones broken even the first time ...
Human
  • #3,949
  • Edited 10:00am Aug 14, 2012 9:47am | Edited 10:00am
Quoting Chanya
Where would you take profit if you took profit based on this untested Demand ??? Plus , how do we know if a level is still valid after first test ??? I have seen lame zones hold more then thrice at a time and awesome ones broken even the first time ...
You can never know how much demand is still left but Sam Seiden recommends only taking the first and second times. Fresh is best.

You also can't really plan a target until closer to your order level. You need to know if any fresh levels have formed above / below.

Definitely recommend watching all Sam's videos and it will be clearer.
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  • #3,950
  • Aug 14, 2012 12:39pm Aug 14, 2012 12:39pm
close in levels work in low volume times of day.
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Good Trading To All ; Ken Lee
  • #3,951
  • Aug 14, 2012 9:11pm Aug 14, 2012 9:11pm
Quoting Kenneth Lee
close in levels work in low volume times of day.
good trades,Ken
one bird in hand is better than two birds in wood
  • #3,952
  • Aug 14, 2012 9:15pm Aug 14, 2012 9:15pm
my plan today
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  • #3,953
  • Aug 14, 2012 9:55pm Aug 14, 2012 9:55pm
//
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Good Trading To All ; Ken Lee
  • #3,954
  • Aug 14, 2012 11:55pm Aug 14, 2012 11:55pm
Quoting Kenneth Lee
//
Great words and chart,Ken
i'll stick to this strategy
thanks again
and happy pips.
  • #3,955
  • Aug 15, 2012 2:37am Aug 15, 2012 2:37am
AUDUSD at D1 and H4 at a demand level. Also D1 oscillator oversold (if you're into that kind of thing).
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  • #3,956
  • Aug 15, 2012 2:58am Aug 15, 2012 2:58am
Quoting C-12
AUDUSD at D1 and H4 at a demand level. Also D1 oscillator oversold (if you're into that kind of thing).
C-12,
i long aud at 1.0458 sl 20pips
any problems ?

thanks and happy pips
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  • #3,957
  • Aug 15, 2012 3:04am Aug 15, 2012 3:04am
Quoting chye
C-12,
i long aud at 1.0458 sl 20pips
any problems ?

thanks and happy pips
Looks like a good level to me.
  • #3,958
  • Aug 15, 2012 3:07am Aug 15, 2012 3:07am
eur 30min ,maybe a good trade.
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  • #3,959
  • Aug 15, 2012 3:58am Aug 15, 2012 3:58am
  •  gil
  • | Joined Jan 2012 | Status: try to master himself first | 63 Posts
Hi guys would like some thought about this trade, obviously now it is a bit late but want to make sure to understand it.

1) How would you have traded this one?

2) Swap level or wait level on the bottom?

Thanks
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  • #3,960
  • Aug 15, 2012 8:49am Aug 15, 2012 8:49am
Well that daily and H4 demand level seemed to work.
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