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B.S. Trading with Kenneth Lee

  • #4,221
  • Sep 26, 2012 9:22pm Sep 26, 2012 9:22pm
Quoting Rufus
Add 78.6 fib to your tool. See what happens
Yes a lot of folks swear by that deep retracement level.

Just closed a oz and e/u long , left a bit on oz to add to . not sure it is headed back up but possibility. so will look for a long spot to add to later .

OZ looked like a long with more possibilities than euro. Had a ugly head and shoulders . Will look for a higher low now to add to. But will gauge with Price action as it has a long way to go ,to not be a CT trade.

got 50 of e/u . . trying to hold more and get back into managing trades instead of in or out options.

Hope your doing well with your balancing act, work verses trading

Learning to trade is a good asset for a working man. as we can only do hard manual labor so long.

Cheers trade well. Ken
Good Trading To All ; Ken Lee
  • #4,222
  • Sep 27, 2012 1:33am Sep 27, 2012 1:33am
Attached Image (click to enlarge)
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Set up this short on the 15M. RR is just a smig shy of 2:1 .. Price took a couple of stabs at my stop. As you will notice I have various time levels plotted. I do this to help me determine where I think the best enrty to be. I tend to step down on the 15 M in this session looking for a clearer picture. Given that we do not have the volume that is associated with the London / US session the smaller TF with smaller TP seem to work better. I use KL's trading between the levels as the basis for these trades.


Attached Image (click to enlarge)
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Price now moving in our favor.. Will see

TSD
  • #4,223
  • Sep 27, 2012 1:40am Sep 27, 2012 1:40am
Quoting TraderinSD
Set up this short on the 15M. RR is just a smig shy of 2:1 .. Price took a couple of stabs at my stop. As you will notice I have various time levels plotted. I do this to help me determine where I think the best enrty to be. I tend to step down on the 15 M in this session looking for a clearer picture. Given that we do not have the volume that is associated with the London / US session the smaller TF with smaller TP seem to work better. I use KL's trading between the levels as the basis for these trades.

Price now moving in our favor.....
I'm still long Aussie with a trailed stop but I was aware of that nice looking M15 supply level.
  • #4,224
  • Sep 27, 2012 1:45am Sep 27, 2012 1:45am
Attached Image (click to enlarge)
Click to Enlarge Name: AUD Short 9.26 #3 Exit.JPG Size: 91 KB



Exited trade with 18.9 pips.

Good trading to all

TSD
  • #4,225
  • Sep 27, 2012 1:55am Sep 27, 2012 1:55am
Quoting C-12
I'm still long Aussie with a trailed stop but I was aware of that nice looking M15 supply level.
Very nice.. Did you start back around that 1.0333 level from the 4HR Demand?..Sweet trade from that level long to be sure..

Good stuff C-12

TSD
  • #4,226
  • Sep 27, 2012 1:56am Sep 27, 2012 1:56am
I wanted to share a little low risk scalping technique I'm working on. Basically I watch the M1 chart as price arrives into a higher TF level.

Entry is on the close of the M1 rejection bar (pin, doji, beeb)

Stop moves to BE + spread after a few pips. You need a low spread ECN broker for this.

I then aggressively trail my stop behind any swing points or new M1 S&D levels that form and do this until stopped out.
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  • #4,227
  • Sep 27, 2012 2:01am Sep 27, 2012 2:01am
Quoting C-12
I wanted to share a little low risk scalping technique I'm working on. Basically I watch the M1 chart as price arrives into a higher TF level.

Entry is on the close of the M1 rejection bar (pin, doji, beeb)

Stop moves to BE + spread after a few pips. You need a low spread ECN broker for this.

I then aggressively trail my stop behind any swing points or new M1 S&D levels that form and do this until stopped out.
I like that.. very cool

TSD
  • #4,228
  • Sep 27, 2012 2:03am Sep 27, 2012 2:03am
Quoting TraderinSD
Very nice.. Did you start back around that 1.0333 level from the 4HR Demand?..Sweet trade from that level long to be sure..

Good stuff C-12

TSD
Yeah still in this. Just trailing it now. I may get stopped out soon but I'm practicing holding to target without giving back too much.
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  • #4,229
  • Sep 27, 2012 3:06am Sep 27, 2012 3:06am
Quoting C-12
I wanted to share a little low risk scalping technique I'm working on. Basically I watch the M1 chart as price arrives into a higher TF level.
Caught another one. Closed this one out rather than running it. Using standard lots and already $300 up today. Not bad for 2 hours work.

Time to call it a day.
Attached Image (click to enlarge)
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  • #4,230
  • Sep 27, 2012 4:27am Sep 27, 2012 4:27am
Quoting C-12
Time to call it a day.
.... Or not.

Again, just using higher time frame levels to find 1 minute pockets of supply. This one was levels on top of levels.
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  • #4,231
  • Sep 27, 2012 4:38am Sep 27, 2012 4:38am
Which broker are you using?

Quoting C-12
.... Or not.

Again, just using higher time frame levels to find 1 minute pockets of supply. This one was levels on top of levels.
  • #4,232
  • Sep 27, 2012 4:42am Sep 27, 2012 4:42am
Quoting bali2002
Which broker are you using?
This is a pepperstone razor account. You pay a small commission on trades but the spreads are the best I've seen.
  • #4,233
  • Sep 27, 2012 5:13am Sep 27, 2012 5:13am
chart showinng the e/u trade and a set of points I placed on chart before bed to see if they would have worked , Knew euro didn't look longish , But see Oz still is, still the oz long .
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Good Trading To All ; Ken Lee
  • #4,234
  • Sep 27, 2012 5:15am Sep 27, 2012 5:15am
You can see in the above chart the yellow arrow for the short is sitting on a big number oo and a swap line. why I choose that spot.
Good Trading To All ; Ken Lee
  • #4,235
  • Sep 27, 2012 5:18am Sep 27, 2012 5:18am
I might have set the PO's on it last night , But for the fact a clear tp area wasn't really there .
Good Trading To All ; Ken Lee
  • #4,236
  • Sep 27, 2012 5:34am Sep 27, 2012 5:34am
Quoting Kenneth Lee
You can see in the above chart the yellow arrow for the short is sitting on a big number oo and a swap line. why I choose that spot.
It was a great level. I've just been using the same level to pick out little pockets of fresh supply that form on the M1. I've been able to catch some nice trades risking between 3-5 pips that have run from 10-20 pips and more.

I have my screen setup like this so I can keep an eye on bigger picture levels.
Attached Image (click to enlarge)
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  • #4,237
  • Sep 27, 2012 6:31am Sep 27, 2012 6:31am
Ok this is the last of the day. On the 1 minute level you can see the origin of this move still had some supply remaining. The level wasn't taken out by more than 50%

Also I think it's worth paying up the 2 pips for the confirmation pin.

I actually got stopped out at BE for $8 profit, re-entered and just locked in $60.
Attached Image(s) (click to enlarge)
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  • #4,238
  • Sep 27, 2012 6:53am Sep 27, 2012 6:53am
kenneth would u plz direct me to a post where u explain about swap levels ? need to understand that concept clearly
  • #4,239
  • Sep 27, 2012 6:58am Sep 27, 2012 6:58am
Quoting extremerrage
kenneth would u plz direct me to a post where u explain about swap levels ? need to understand that concept clearly
A swap is where a previous demand level fails and then it becomes a supply level. They are very powerful levels. Here's a chart.
Attached Image (click to enlarge)
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  • #4,240
  • Sep 27, 2012 7:00am Sep 27, 2012 7:00am
Quoting C-12
A swap is where a previous demand level fails and then it becomes a supply level. They are very powerful levels. Here's a chart.
thx c-21 appreciate ur help , i was always enticed by ur knowledge about SD know u from james16 well done bro
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