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B.S. Trading with Kenneth Lee

  • #4,761
  • Oct 30, 2012 10:24pm Oct 30, 2012 10:24pm
Quoting toktok
Hi Toktok, where do you usually look for the calendar?
I was only looking at Oanda's news, which was about 6 hours ago for JPY news.

Well, just on this side. Next to forums.
http://www.forexfactory.com/calendar.php
Good Trading To All ; Ken Lee
  • #4,762
  • Oct 31, 2012 12:13am Oct 31, 2012 12:13am
Quoting Kenneth Lee
yes but when we have issues like this storm a lot of large players stay out , so then any moron with a bit of cash can move the market why during holidays and between sessions you see price drift around a level not always staying inside. Not sure what the new was during asia that caused that move but . spikes can take out your stop. Then drop right back down going the way you wanted . As it wasn't a scheduled event . Not much you can do . During scheduled events If i am confident of my trade plan I will adjust stop anyway as spread will change...
Ahh... understand it now.

Quoting Kenneth Lee
I just looked and that complete 80 pip move on that candle happened in 1 min and price has settled almost right back where it left. The only plan for events as these are to hold your stop . a small loss is better than a huge one. It could have just as well kept going up .
I never move my stop further, only to BE if it has reached certain level.

Quoting Kenneth Lee
But yes trading the asian session and even OZ . is normally a continuation of the days action . If price has been heading towards a longer term level I will try and get in if I am not already. I do try and get a entry as the u.s session is slowing down as this normally can get you the best entry as others close positions. But if i get home from work at 10 eastern I can normally find a entry as well.
Will try to see this one, but in between US closing & AU open the spread was larger in Oanda. That's why I'm not really keen on it.

Quoting Kenneth Lee
The key is to not over complicate things. Find your trend using Higher lows or lower highs . I use the 30 min chart. also keep in mind you are trading a less active time so the huge moves aren't common. It can take a long time for price to even really start moving . so patience is the key . I can't even count the times I have bailed from a crawling trade just to watch it POP just as I do.
Yep, always had a feeling that the market know what I'm about to do next.
When I just closed a trade it'll go my way,if I decided to leave it, it goes and hit my SL.... LOL

Quoting Kenneth Lee
I did that yesterday was short OZ and the darn price had tested that 1.0340 ish low 4 times . So the last time I was done riding the ride and closed , it then finally pushed thru. , But that is just trading . If we could really tell the future I wouldn't be here chatting with you guys.. LOL
Are you able to show it on a picture?
I've looked at it but couldn't really find a good supply to enter last time.
  • #4,763
  • Oct 31, 2012 12:23am Oct 31, 2012 12:23am
Thanks Ken & Toktok for the Calendar.
Do you always check each one of the news?
Seems a bit too much if you are not a full time trader.
And not sure if I understand most of the news.
I think I might stick with Oanda's news on the bottom of the chart and only use the FF calendar every now and then for now.
  • #4,764
  • Oct 31, 2012 2:46am Oct 31, 2012 2:46am
Quoting yoshipau
Thanks Ken & Toktok for the Calendar.
Do you always check each one of the news?
Seems a bit too much if you are not a full time trader.
And not sure if I understand most of the news.
I think I might stick with Oanda's news on the bottom of the chart and only use the FF calendar every now and then for now.
Make it a habit to look first at the calendar. The red ones are important
  • #4,765
  • Oct 31, 2012 8:14am Oct 31, 2012 8:14am
Short EURUSD. I'm taking Ken's advice and looking to the higher time frames for target guidance since my entries are usually quite tight.
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  • #4,766
  • Edited 2:32pm Oct 31, 2012 9:27am | Edited 2:32pm
Quoting yoshipau
Anyone know what just happened with the JPY?
I had this PO on AUDJPY, hit my SL then dropped really quick.
Same thing happened on EJ UJ GJ, up and down in less than a minute.
yoshipau I don't think it was about news or even Sandy, solid levels are news resistant

http://s16.postimage.org/9zhedywkl/C...y_snapshot.png

I did enter long USD/JPY on that spike and today short term short USD/JPY and AUD/JPY.

btw. I had a great trading day today, +20% of my depo and it's my birthday
  • #4,767
  • Nov 3, 2012 5:59pm Nov 3, 2012 5:59pm
I just tried trading the last few months EURCAD on Forex Tester 2 with S&D, and found it almost impossible. Ended up about BE because of a couple of 'home runs', but only about a 40% success rate. I've done much better than this with other pairs, and I'm doing better in my demo account, but I just wondered whether anyone trades this pair live, and with what kind of success over recent months?
  • #4,768
  • Nov 3, 2012 9:27pm Nov 3, 2012 9:27pm
Quoting tzkennedy
I just tried trading the last few months EURCAD on Forex Tester 2 with S&D, and found it almost impossible. Ended up about BE because of a couple of 'home runs', but only about a 40% success rate. I've done much better than this with other pairs, and I'm doing better in my demo account, but I just wondered whether anyone trades this pair live, and with what kind of success over recent months?

I would say try trading 1/2 the position size on e/u and usd /cad


I trade majors mainly with a couple yens thrown in for a good mix. but the key for me anyway is to take the cleanest and clearest trades . if your straining to see it it is normally a toss up.
Good Trading To All ; Ken Lee
  • #4,769
  • Nov 4, 2012 12:17am Nov 4, 2012 12:17am
Quoting tzkennedy
I just tried trading the last few months EURCAD on Forex Tester 2 with S&D, and found it almost impossible. Ended up about BE because of a couple of 'home runs', but only about a 40% success rate. I've done much better than this with other pairs, and I'm doing better in my demo account, but I just wondered whether anyone trades this pair live, and with what kind of success over recent months?
I did trade it once but it was generally sloppy trade, yea I know one time is not a good statistical measurement.

Anyway I don't see why would eur/cad be any different from other pairs.
  • #4,770
  • Nov 4, 2012 6:16pm Nov 4, 2012 6:16pm
Thanks Ken/Peter.

Now, I've been toying with the idea of getting an EA coded that will help with PO trade management when I'm unable to watch the charts. Obviously, it's better to manage things manually by watching PA, but I'm talking about when setting a PO for a potentially good level and going to work or whatever. Here are my thoughts:

1) You set a 'stall zone', perhaps based on the pip size of the PO from entry to SL - e.g. 2 x size of entry to stop. When price enters this zone, the EA monitors how many closed candles form here before the order is triggered. If it lingers here for too long (5 candles??), the order is cancelled.

2) Similarly, if a trade passes the above criteria (and therefore hopefully has a decent RR), if price doesn't make the first PT within x candles, it is closed, or perhaps SL moved above the highest candle since entry (in a supply zone).

3) Could also be used to move SL to BE or other designated spot after first PT is hit.

4) Various money management options (% to close at each PT etc.) could be incorporated.

5) Could use trend lines to set the PO, like Snagmane's 'Easy Order' script elsewhere on FF.

Anyone have thoughts on this, including ways to make it more useful? Anyone interested in splitting the cost of having it coded? I've worked with a programmer before who isn't expensive and does good work.

Thanks for your thoughts.
  • #4,771
  • Nov 5, 2012 1:24am Nov 5, 2012 1:24am
Quoting Peter_FX
yoshipau I don't think it was about news or even Sandy, solid levels are news resistant

http://s16.postimage.org/9zhedywkl/C...y_snapshot.png

I did enter long USD/JPY on that spike and today short term short USD/JPY and AUD/JPY.

btw. I had a great trading day today, +20% of my depo and it's my birthday
HAPPY BIRTHDAY PETER, that was a pretty nice gift from the market. lol

Great picture, I was busy trying to find what my mistake was and didn't realize that price was hitting the demand level below.
  • #4,772
  • Nov 6, 2012 3:13am Nov 6, 2012 3:13am
I should add to my last post, sorry if it seems off topic. But I mean for it to be used with S&D trading only, and therefore might be a useful exercise to discuss what automatic management settings would be best. It might even help to think this through to develop rules about when to bail while watching the charts. Anyway, I hope you see where I'm coming from.

Have a good day all.
  • #4,773
  • Nov 7, 2012 4:51am Nov 7, 2012 4:51am
hope some took any of these trades. the Sunday open line, lower line is a common available trade. think of the Friday's closing price as a equal area and then the move away as when the price becomes unbalanced which is what we are always looking for. The two previous wicks where price tested a bit lower also shows there is some demand in this area.
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Good Trading To All ; Ken Lee
  • #4,774
  • Nov 7, 2012 4:56am Nov 7, 2012 4:56am
here is e/u with similar setup. some good trades to be had even in this messed up climate . elections .
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Good Trading To All ; Ken Lee
  • #4,775
  • Nov 7, 2012 5:12am Nov 7, 2012 5:12am
Hey Ken, working my way through all the old posts and just discovered you're a fellow boat dweller! I live on a Dutch barge in Bristol, UK. Let's make sure our accounts stay afloat during these markets! (Sorry, that was poor!)
  • #4,776
  • Nov 7, 2012 5:22am Nov 7, 2012 5:22am
Quoting tzkennedy
Hey Ken, working my way through all the old posts and just discovered you're a fellow boat dweller! I live on a Dutch barge in Bristol, UK. Let's make sure our accounts stay afloat during these markets! (Sorry, that was poor!)

Very Nice
.. I will have to look up some photos , don't have any on this machine ..
yes we have thought of having our boat shipped to Europe one day, and do a bit of the canals. Yes keep your head above water is key.

rule 1 always have enough left to take the next trade
rule 2 never let a winner become a loser
rule 3 accept the planned loss and move on
rule 4 add to winners not losers
rule 5 close the losing trades not the winners when more than one trade is on


simple ... Cheers Ken
Good Trading To All ; Ken Lee
  • #4,777
  • Nov 7, 2012 5:23am Nov 7, 2012 5:23am
Quoting tzkennedy
Hey Ken, working my way through all the old posts and just discovered you're a fellow boat dweller! I live on a Dutch barge in Bristol, UK. Let's make sure our accounts stay afloat during these markets! (Sorry, that was poor!)
This is the kind of boat I live on not mine, but a internet listed one.


http://www.yachtworld.com/boats/1989.../United-States
Good Trading To All ; Ken Lee
  • #4,778
  • Nov 7, 2012 5:24am Nov 7, 2012 5:24am
Quoting Kenneth Lee
rule 1 always have enough left to take the next trade
rule 2 never let a winner become a loser
rule 3 accept the planned loss and move on
rule 4 add to winners not losers
rule 5 close the losing trades not the winners when more than one trade is on


simple ... Cheers Ken
Awesome advice as always.
  • #4,779
  • Nov 7, 2012 5:31am Nov 7, 2012 5:31am
Quoting Kenneth Lee
This is the kind of boat I live on not mine, but a internet listed one.


http://www.yachtworld.com/boats/1989.../United-States
Very cool! You can see ours on our production company website (although this was taken when it was in Amsterdam):

http://Www.boatyardproductions.co.uk
  • #4,780
  • Nov 7, 2012 6:53am Nov 7, 2012 6:53am
Quoting tzkennedy
Very cool! You can see ours on our production company website (although this was taken when it was in Amsterdam):

http://Www.boatyardproductions.co.uk

Nice I prefer the Dutch style boats .. over other canal boats . Had a Link to a company that had a nice 45 or 50 footer with a collapsible pilot house amid-ship. nice idea for low bridges.
Good Trading To All ; Ken Lee
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