B.S. Trading with Kenneth Lee | Page 213 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: B.S. Trading with Kenneth Lee
Exit Attachments

B.S. Trading with Kenneth Lee

  • #4,241
  • Sep 27, 2012 5:04am Sep 27, 2012 5:04am
Quoting extremerrage
thx c-21 appreciate ur help , i was always enticed by ur knowledge about SD know u from james16 well done bro
Cheers, I have tried to show the J16 regulars the way with S&D but have now given up. Glad to see you on board this thread.
  • #4,242
  • Sep 27, 2012 5:17am Sep 27, 2012 5:17am
Quoting C-12
Cheers, I have tried to show the J16 regulars the way with S&D but have now given up. Glad to see you on board this thread.
well because SD is the logic behind whats happening , been folowing these threads for a lot of time but no body can tell what is behind a pattern or why it is forming, that was when i stumbled here, and lj forex group so it open my mind that SD is every thing , any way thx again
  • #4,243
  • Sep 27, 2012 5:21am Sep 27, 2012 5:21am
Quoting extremerrage
well because SD is the logic behind whats happening , been folowing these threads for a lot of time but no body can tell what is behind a pattern or why it is forming, that was when i stumbled here, and lj forex group so it open my mind that SD is every thing , any way thx again
Yes these days I just view a chart like a treasure map to show me the location of potential unfilled buy and sell orders. Nothing else.
  • #4,244
  • Sep 27, 2012 5:51am Sep 27, 2012 5:51am
Quoting extremerrage
kenneth would u plz direct me to a post where u explain about swap levels ? need to understand that concept clearly

C-12 chart shows it clearly. I just coined the term SWAP to stay in tune with Supply and Demand trading . In his chart it has swapped from a buy to a sell level , Or demand to supply. Everyone else would say support becomes resistance. But we are looking for the Demand level now not a area but a precise KNOWN level where a abundance of supply caused this demand level to fail.

Anyway my two cents.. Cheers
Good Trading To All ; Ken Lee
  • #4,245
  • Sep 27, 2012 6:14am Sep 27, 2012 6:14am
Hi C-12,

Great trades you have there. What triggers you have for M1 to enter the trade?

So far I have only been entering on limit orders on the first touch back to the SD zones with stops at the other side of the stack.
Occasionally price goes off ahead of the PO or missed by the spread. Missing some trades is fine but occasionally price may blow through one or two levels first before holding. Thus there is a need for wide stop, most often would upset the RRR.

Was thinking of how to have better probability that my chosen SD levels are holding? And to achieve better RRR
Attached Image (click to enlarge)
Click to Enlarge Name: gold.png Size: 83 KB
  • #4,246
  • Edited 7:11am Sep 27, 2012 6:50am | Edited 7:11am
Quoting ax3l
Hi C-12,
Great trades you have there. What triggers you have for M1 to enter the trade?
I'll be honest and say that I was really struggling with swing trades and pending orders. Some weeks were great where others I was waking up to being stopped out or sometimes price got a few pips before my target and then reversed!

About 2 weeks ago I made a thread on AG regarding trading the M1 time frame and was shocked to find the cleanest levels with the best Risk / Reward ratios.

http://www.acegazette.com/en/forum/s...-charting.html

The secret with this time frame is trade management. I watch for any kind of rejection (Engulfing bar, doji or Pin) from the level. You don't even need to wait for the bar to fully form. You can see the rejection take place. I then take the trade and then get my position to BE + spread after a few pips.

If I get stopped out for BE then I'll take the trade once again if I get another rejection. Again, stop at BE after a few pips.

  • #4,247
  • Sep 27, 2012 6:57am Sep 27, 2012 6:57am
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.
So I went out to the gym and came back in to find that top level had been hit. lol

That's almost a 10:1 R
Attached Image (click to enlarge)
Click to Enlarge Name: level2.jpg Size: 86 KB
  • #4,248
  • Sep 27, 2012 7:00am Sep 27, 2012 7:00am
Quoting C-12
I'll be honest and say that I was really struggling with swing trades and pending orders. Some weeks were great where others I was waking up to being stopped out or sometimes price got a few pips before my target and then reversed!

About 2 weeks ago I made a thread on AG regarding trading the M1 time frame and was shocked to find the cleanest levels with the best Risk / Reward ratios.

http://www.acegazette.com/en/forum/s...-charting.html

The secret with this time frame is trade management. I watch...
I see. Being aggressive on the trade management. Thanks C-12!!
  • #4,249
  • Sep 27, 2012 7:42am Sep 27, 2012 7:42am
Quoting ax3l
I see. Being aggressive on the trade management. Thanks C-12!!
This EA is helpful. Basically you can drag your stop loss and tp level around on Metatrader. Absolutely essential tool.

http://en.luktom.biz/Page/447/luktom...l-order-editor
  • #4,250
  • Edited 8:10am Sep 27, 2012 7:56am | Edited 8:10am
Quoting C-12
I'll be honest and say that I was really struggling with swing trades and pending orders. Some weeks were great where others I was waking up to being stopped out or sometimes price got a few pips before my target and then reversed!

About 2 weeks ago I made a thread on AG regarding trading the M1 time frame and was shocked to find the cleanest levels with the best Risk / Reward ratios.

http://www.acegazette.com/en/forum/s...-charting.html

The secret with this time frame is trade management. I watch...
This is pretty much what i do on the higher time frames. I like to wait for price to show me there's interest in my levels.

EDIT: I think i deleted half my post by mistake before i posted it.

It makes sense that SD levels would be very clear on the 1min timeframe. People say it's a lot of noise but they're not looking at the charts from a SD standpoint. No such thing as noise when it comes to the market.
  • #4,251
  • Sep 27, 2012 7:57am Sep 27, 2012 7:57am
Quoting C-12
I'll be honest and say that I was really struggling with swing trades and pending orders. Some weeks were great where others I was waking up to being stopped out or sometimes price got a few pips before my target and then reversed!

About 2 weeks ago I made a thread on AG regarding trading the M1 time frame and was shocked to find the cleanest levels with the best Risk / Reward ratios.

http://www.acegazette.com/en/forum/s...-charting.html

The secret with this time frame is trade management. I watch...
Excellent stuff C-12..and with proper position sizing one could do very well. I will start stepping down into th 1M on the Asain session. You know I like the smaller TF...

Thanks

TSD
  • #4,252
  • Sep 27, 2012 8:04am Sep 27, 2012 8:04am
Quoting TraderinSD
Excellent stuff C-12..and with proper position sizing one could do very well. I will start stepping down into th 1M on the Asain session. You know I like the smaller TF...

Thanks

TSD
I've done very very well with this today using just 1 standard lot ($10 per pip). Just make sure you're in sync with the higher timeframe and the levels will stick out like a sore thumb.
  • #4,253
  • Sep 27, 2012 8:12am Sep 27, 2012 8:12am
Quoting Kenneth Lee
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...
The 78.6 is my number.

The balancing act is coming along. Working on a way I can trade hourly charts with my phone while working. Being the boss and all helps.

Drives me nuts to see my employees staring at their cell phones or talking while on the clock. I know for a fact I would not have made it in the office environment with alll the usless chit chat that goes on. So to continue to set the example, checking the charts durring breaks and lunch.

As for the hard manual labor...Been doing it for years and it has taken its toll. Trading will be my way out.
Illegitimi non carborundum - Noli pati a scelestis opprimi.
  • #4,254
  • Sep 27, 2012 8:22am Sep 27, 2012 8:22am
Quoting C-12
This EA is helpful. Basically you can drag your stop loss and tp level around on Metatrader. Absolutely essential tool.

http://en.luktom.biz/Page/447/luktom...l-order-editor
Thanks C-12, trading on Oanda's Java presently. MT4 to chart my levels.
  • #4,255
  • Sep 27, 2012 8:22am Sep 27, 2012 8:22am
More M1 madness both long and short. Get your stop to BE after a few pips and the winners will take care of themselves.
Attached Image (click to enlarge)
Click to Enlarge Name: eur5.gif Size: 31 KB
  • #4,256
  • Sep 27, 2012 8:25am Sep 27, 2012 8:25am
Quoting C-12
More M1 madness both long and short. Get your stop to BE after a few pips and the winners will take care of themselves.
You made M1 chart look so nice.
  • #4,257
  • Sep 27, 2012 9:00am Sep 27, 2012 9:00am
Quoting C-12
I've done very very well with this today using just 1 standard lot ($10 per pip). Just make sure you're in sync with the higher timeframe and the levels will stick out like a sore thumb.

When you say higher TF which ones are looking? H1, H4, daily?
  • #4,258
  • Sep 27, 2012 9:16am Sep 27, 2012 9:16am
Quoting C-12
I've done very very well with this today using just 1 standard lot ($10 per pip). Just make sure you're in sync with the higher timeframe and the levels will stick out like a sore thumb.
I'm liking this.. I trade the smaller TF's (1M, 5M ) when trading the Mini's.. Hopefully this will fit right in

Will definitely be following

Thanks again

TSD
  • #4,259
  • Sep 27, 2012 9:30am Sep 27, 2012 9:30am
Quoting bali2002
When you say higher TF which ones are looking? H1, H4, daily?

http://www.forexfactory.com/showthre...31#post6047431


need to pay attention if your serious about this stuf. it is real money by the way ...
Good Trading To All ; Ken Lee
  • #4,260
  • Sep 27, 2012 9:39am Sep 27, 2012 9:39am
Just in the live webinar now with Sam Seiden and he's marked off a really strange level I've never seen before. His logic made sense.

Worth watching the video later.
Attached Image (click to enlarge)
Click to Enlarge Name: sam.jpg Size: 111 KB
3 traders viewing now