I had to go out earlier and came back to see this.
I just have to laugh when I see a level I mark off runs for 40....
And I'm not in it!
I just have to laugh when I see a level I mark off runs for 40....
And I'm not in it!
B.S. Trading with Kenneth Lee
- #4,506
- Oct 10, 2012 1:08pm Oct 10, 2012 1:08pm
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Good Trading To All ; Ken Lee
- #4,507
- Oct 10, 2012 1:29pm Oct 10, 2012 1:29pm
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Good Trading To All ; Ken Lee
- #4,509
- Oct 10, 2012 2:18pm Oct 10, 2012 2:18pm
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Good Trading To All ; Ken Lee
- #4,510
- Oct 10, 2012 2:41pm Oct 10, 2012 2:41pm
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Good Trading To All ; Ken Lee
- #4,513
- Oct 10, 2012 4:22pm Oct 10, 2012 4:22pm
- Joined Jun 2012 | Status: Signed In | 5,309 Posts
Hi C12
Thanks for sharing your approach. I am going to demo something similar in between my higher t/f trading. I would be very interested to know your average R result and your win%...maybe a quick synopsis of your last 20 trades for example? I like your entries and even though you say your trade management is aggressive...to me it just looks smart beacuse you are waiting for swings or SD levels to form to hide behind. Good stuff.
thx
L
Today's result was an account gain of $280 but that included 3 small losers which were silly mistakes. I always cut these trades instantly and never try and salvage them by widening the stop etc...
I'd really like to see myself become more disciplined over time but this method offers R ratios like no other. Looking forward to seeing some charts.
- #4,515
- Oct 10, 2012 5:26pm Oct 10, 2012 5:26pm
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
dont you just love these ones that miss your limit orders by 0.5 of a pip... the joys of trading hey
Have a similar one sitting on e/u .. But left it there next test bit higher .
Good Trading To All ; Ken Lee
- #4,517
- Oct 10, 2012 5:34pm Oct 10, 2012 5:34pm
- Joined Nov 2008 | Status: Trade Inspiration Not Despiration . | 4,827 Posts
Good Trading To All ; Ken Lee
- #4,518
- Oct 10, 2012 5:46pm Oct 10, 2012 5:46pm
Might slide it up, make them come to me and lower risk
1.2817 is looking pretty good tho
Yes looking at it does seem like something is sure to go down at the level.. Daily chart shows a big pivot area and looking at the hourly there is definately some nice demand down there. Lets see how good our prediction powers are
nollej is power..
- #4,519
- Oct 10, 2012 7:58pm Oct 10, 2012 7:58pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
I have notice a fair amount of questions lately regarding direction and picking of levels. KL and C-12 both speak to a top down approach and trading with the overall trend. Secondly KL has mentioned many times about trading between the levels. The following screen shots should help those still having some difficulty with levels and directional bias. I purposely took this only to the 30M TF. I.. like KL.. believe that once you can master this method at the 30M level.. then and only then ..should you attemp to trade the more exotic levels like the 1M. C-12 does this very well yet his top down approach is the same. I will take liberty here and say he probably mastered the 30M level before moving the 1M.
This screen shot above shows both a Demand and Supply level. As you can see the Demand level has been touch 3 time as indicated by the arrows 1, 2 and 3. This is text book regarding what KL has talked about in the past. How each time a level is revisited, the subsequent revisits tend to be deeper into the level. The white support lines help see this as well. This is also prime for a potential swap level as each time the level is revisited there is less and less ( in this case ) Demand. That is not to say this will happen but the odds are good as we are in a down trend. What is also interesting is the 1.0333 - 1.0634 level. Looking left, the previous month, you will see a previous Demand level. There was a bounce at a Demand level.. Then price trade through to its current level. If?? Price returns this level we have the potential for another swap trade on the fresh daily Supply level.
What we seen now...........
1) We have spotted 2 levels in the higher TF. 1 supply ( fresh ) 1 Demand level ( touched 3 times )
2) Directional bias is down. Lower Highs / lower Lows as the relate to the daily TF. Remember this !!!!!!! ( this will make a HUGE difference in your trading )
3) The establishment of the 2 levels gives us the ability to trade BETWEEN the levels.
This screen shows the 4HR level, both Supply and Demand. Levels within levels. Again, we are trading between the levels.
See next post
This screen shot above shows both a Demand and Supply level. As you can see the Demand level has been touch 3 time as indicated by the arrows 1, 2 and 3. This is text book regarding what KL has talked about in the past. How each time a level is revisited, the subsequent revisits tend to be deeper into the level. The white support lines help see this as well. This is also prime for a potential swap level as each time the level is revisited there is less and less ( in this case ) Demand. That is not to say this will happen but the odds are good as we are in a down trend. What is also interesting is the 1.0333 - 1.0634 level. Looking left, the previous month, you will see a previous Demand level. There was a bounce at a Demand level.. Then price trade through to its current level. If?? Price returns this level we have the potential for another swap trade on the fresh daily Supply level.
What we seen now...........
1) We have spotted 2 levels in the higher TF. 1 supply ( fresh ) 1 Demand level ( touched 3 times )
2) Directional bias is down. Lower Highs / lower Lows as the relate to the daily TF. Remember this !!!!!!! ( this will make a HUGE difference in your trading )
3) The establishment of the 2 levels gives us the ability to trade BETWEEN the levels.
This screen shows the 4HR level, both Supply and Demand. Levels within levels. Again, we are trading between the levels.
See next post
- #4,520
- Oct 10, 2012 9:12pm Oct 10, 2012 9:12pm
- Joined Feb 2011 | Status: Probabilities, Not Absolutes | 1,246 Posts
We have now arrived at the 30M level. We can still see our Daily and 4HR TF's. We also see were price has been and potentialy where price may be going.
Arrow #1 .. A 30M Supply level formed on 10.05. See how price move sideways for 3 candles prior to moving short sharply. This move was a strong move into the Daily. Odds Enhancer = How far did price decline before returning back to supply level?
If you look a little more left ( from our 30M level )you will see a smaller, previous level earlier in the day. See how pice previously dropped, based, rise.. back up into our level. Then price really took off short from this level. Much stronger that the previous. What does this tell us. That this level has high potential. Price did not spend alot of time there. Odds Enhancer = How much time did price spend at the level?
Arrow #2 .. Price has returned to our High Potential 30M Supply level. Two things are happening here. 1) Price has been away from this area for a good amount of time relative to the TF. Odds Enhancer = How much time did price stay away from this level?
2) We are trading in the direction of the overall trend. Odds Enhancer = Are we trading with the overall trend?
This screen shot shows a great TP area for the 30M short. Candles 1,2 and 3 show a solid fresh Demand level.
I'm not saying that 3 candles is the magic number but I like to see between 2 and 4 ( as a general rule ). That's just me but, this fits in with what is considered god levels = A short amount of time, then a strong move away from this type of area. Levels are not alway picture perfect but this may be a good start if you are having difficulty.
In closing...
1) We determined our levels from the Top Down..Daily, 4Hr, and 30M.
2) We determined the overall Trend/Directional Bias.
3) We are trading at the 30M TF from a Quality Level.
4) We are trading with the TREND.
5) We have a good amount of Odds Enhancers associated with this set up.
Hope this helps
Good trading to all
TSD