B.S. Trading with Kenneth Lee | Page 221 | 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

  • #4,401
  • Oct 5, 2012 3:19am Oct 5, 2012 3:19am
Another awesome little level on the GBP also.
Attached Image (click to enlarge)
Click to Enlarge Name: gb.gif Size: 27 KB
  • #4,402
  • Oct 5, 2012 3:23am Oct 5, 2012 3:23am
Exactly, GBPUSD had a similar setup.

And notice the 2nd trade immediately after ... a short based on the retracement of the breakout box.

Double wammy
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 85 KB
  • #4,403
  • Oct 5, 2012 3:27am Oct 5, 2012 3:27am
Keeping an eye out for USDCAD.

With NFP out today, we'll probably see some volatility.
Attached Image
  • #4,404
  • Oct 5, 2012 3:30am Oct 5, 2012 3:30am
Quoting EuroPipper
Good morning C-12 ! Awesome trade
That trade was such a no brainer for 10 pips (I'd say probability was over 95% certainty). These trades show up every multiple times a day without fail.

Now my thinking is this. I'm currently trailing my stop in the hope that it runs.

If I can trade this with 3-5 lots for a 10 pip move I could take full profits and never even have to worry if its a runner.

I know Sam Seiden day trades this way with 6-8 standard contracts at $12 per pip and he never looks for a runner.

  • #4,405
  • Oct 5, 2012 3:41am Oct 5, 2012 3:41am
Morning

http://s7.postimage.org/vktda4k7v/Ch...s_snapshot.png

Quote
If I can trade this with 3-5 lots for a 10 pip move I could take full profits and never even have to worry if its a runner.

That's what I'm starting to think too.
  • #4,406
  • Oct 5, 2012 3:45am Oct 5, 2012 3:45am
It's all about the large position size, getting in, getting out and job done. That's trading.

I got stopped out for 6 pips. Back in again but this wasn't the low risk entry like above and it makes me a little bit nervous.

Although it did work out.
Attached Image (click to enlarge)
Click to Enlarge Name: eu3.gif Size: 27 KB
  • #4,407
  • Oct 5, 2012 3:47am Oct 5, 2012 3:47am
Quoting C-12
That trade was such a no brainer for 10 pips (I'd say probability was over 95% certainty). These trades show up every multiple times a day without fail.

Now my thinking is this. I'm currently trailing my stop in the hope that it runs.

If I can trade this with 3-5 lots for a 10 pip move I could take full profits and never even have to worry if its a runner.

I know Sam Seiden day trades this way with 6-8 standard contracts at $12 per pip and he never looks for a runner.

Hi C-12 & PeterFX,

I agree, on such a time frame, I'd say max 10pips.

More advanced would be: take half off at 10pips, then break-even stop on the other half. If it's a runner (like EURUSD this morning - have a look - it's making new lows as we speak) then you're in the trade for another 10pips or the next demand level.
  • #4,408
  • Oct 5, 2012 3:50am Oct 5, 2012 3:50am
Quoting EuroPipper
Hi C-12 & PeterFX,

I agree, on such a time frame, I'd say max 10pips.

More advanced would be: take half off at 10pips, then break-even stop on the other half. If it's a runner (like EURUSD this morning - have a look - it's making new lows as we speak) then you're in the trade for another 10pips or the next demand level.
Yeah you're right. Will probably try splitting my positions up. Sometimes these M1 levels are good for 30 pips or more. I guess you do want to leave a position out there since these moves can seriously build your account.
  • #4,409
  • Oct 5, 2012 3:56am Oct 5, 2012 3:56am
Quoting C-12
Yeah you're right. Will probably try splitting my positions up. Sometimes these M1 levels are good for 30 pips or more. I guess you do want to leave a position out there since these moves can seriously build your account.
That's right, exactly how I see it. Now, of course this changes money management a little, because sometimes you may have to accept half of the profits with a full set of losses, BUT this will adjust itself when you get those big winners.

It's all up to your own style and approach to the market. I like to do the half-half approach on long term trades (1-hour and up) because that's where the mega-pip trades are
  • #4,410
  • Oct 5, 2012 4:07am Oct 5, 2012 4:07am
If someone wasn't watching, this is Sam's cable level from yesterdays session (I'm not sure if I'm precise with SL )

http://s16.postimage.org/vmxkt67c5/C...s_snapshot.png
  • #4,411
  • Oct 5, 2012 4:29am Oct 5, 2012 4:29am
Aussie

http://s9.postimage.org/55xs1qf5r/Ch...s_snapshot.png
  • #4,412
  • Oct 5, 2012 4:48am Oct 5, 2012 4:48am
Who's in on the retest?
Attached Image (click to enlarge)
Click to Enlarge Name: round 2.gif Size: 29 KB
  • #4,413
  • Oct 5, 2012 5:11am Oct 5, 2012 5:11am
Quoting C-12
Who's in on the retest?
I,m still in, my TP was missed by few pips, was thinking about getting out but this break-out into supply looks promising.

http://s8.postimage.org/78dvwlc79/Ch...s_snapshot.png
  • #4,414
  • Oct 5, 2012 5:17am Oct 5, 2012 5:17am
Quoting Peter_FX
I,m still in, my TP was missed by few pips, was thinking about getting out but this break-out into supply looks promising.
Yep. I think today must be the slowest London session I've ever seen. The daily range is about 20 pips!

Took a shot at the GBP also.

Sooner or later something has to give way for a big move. Obviously NFP will do it.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu7.gif Size: 25 KB
Click to Enlarge Name: gb7.gif Size: 26 KB
  • #4,415
  • Oct 5, 2012 5:26am Oct 5, 2012 5:26am
Quoting C-12
Yep. I think today must be the slowest London session I've ever seen. The daily range is about 20 pips!

Took a shot at the GBP also.

Sooner or later something has to give way for a big move.
Lol yea its like Asian session, I actually have time to draw on my chart .

Waiting for the news i guess...
  • #4,416
  • Oct 5, 2012 5:55am Oct 5, 2012 5:55am
Pullback from daily level left this untouched 1h level on Swissy (upper one) It should work as magnet on price, its 110 pips away, getting there would also mean about 150 pip drop on eur (this is the "good news" scenario of course.. good for USD whatever that means)

http://s13.postimage.org/zf9nbrmif/C...y_snapshot.png
  • #4,417
  • Oct 5, 2012 6:17am Oct 5, 2012 6:17am
C-12, why did you trade against up trend on daily EUR/USD?
You can control your emotions
  • #4,418
  • Oct 5, 2012 6:36am Oct 5, 2012 6:36am
Quoting Sztukmistrz
C-12, why did you trade against up trend on daily EUR/USD?
The daily is up but the H4 chart showed a bearish setup which prompted me to look lower for pockets of supply to short against.

I'm only looking to collect pips though. 20 a day is my target. I'm not trying to get on board the bigger picture move.
Attached Image (click to enlarge)
Click to Enlarge Name: eu9.gif Size: 28 KB
  • #4,419
  • Oct 5, 2012 6:51am Oct 5, 2012 6:51am
Finally some movement. Took 50% off at FTA and left a runner.

Another nice days work then.
Attached Image (click to enlarge)
Click to Enlarge Name: eu10.gif Size: 21 KB
  • #4,420
  • Oct 5, 2012 7:02am Oct 5, 2012 7:02am
Quoting Peter_FX
If someone wasn't watching, this is Sam's cable level from yesterdays session (I'm not sure if I'm precise with SL )
Hi PeterFX,

Thank you for that signal from the session. Indeed it seems to be an important level for GBPUSD - there is a 61.8% Fibo retracement off the 4-hour/1-hour down move from the short-term high.

Also, GBPUSD is coming down off the major double top on the daily-chart.

Ditto AUDUSD, but this time on the 5-min chart.

Could be good ones!
0 traders viewing now