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B.S. Trading with Kenneth Lee

  • #4,781
  • Nov 7, 2012 7:01am Nov 7, 2012 7:01am
oh long OZ for anyone interested in trading .. ..

this 440 area as been played many times in the past and is a demand level right now
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Good Trading To All ; Ken Lee
  • #4,782
  • Edited 7:15am Nov 7, 2012 7:05am | Edited 7:15am
the gbp . [8:03:15 AM] Kenneth Lee: I would like to buy about 1.5950 4 hr
[8:03:32 AM] Kenneth Lee: after these attempts to go long
[8:03:49 AM] Kenneth Lee: the lower the buy the better even if it fails should deliver something

this is how i thunk ..
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Good Trading To All ; Ken Lee
  • #4,783
  • Nov 7, 2012 7:24am Nov 7, 2012 7:24am
Quoting Kenneth Lee
here is e/u with similar setup. some good trades to be had even in this messed up climate . elections .
Hi Ken, entered long from the same supply level that you drawn, was up by about 15 pips then moved SL to BE and got out with nothing.
Had another trade from demand level below, but stopped pretty quick.
Also saw another level just below it, didn't take it but would also be a loss if taken.
Do you think I had the wrong levels?
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  • #4,784
  • Nov 7, 2012 10:51am Nov 7, 2012 10:51am
Gentelman

I've been looking over Sam Seiden's trading materials and found this thread eventually. I see what you guys do here and I think it's awsame.
Kenneth Lee - respect !!

Don't know if anybody has taken this trade today? GBP/CAD. Perfect setup A+++. Pic attached.

For some reason I my broker didn't execute my trade set to 1.58200. I've set this up as pending order this morning. Price went down as low as 1.5812. Does anybody know why my trade wasn't executed? (Demo Account with IronFX).

Overall great trade.

Regards to all you folks here. Hope to post here more often.
  • #4,785
  • Nov 7, 2012 10:53am Nov 7, 2012 10:53am
There is a screenshot
Quoting bolo
Gentelman

I've been looking over Sam Seiden's trading materials and found this thread eventually. I see what you guys do here and I think it's awsame.
Kenneth Lee - respect !!

Don't know if anybody has taken this trade today? GBP/CAD. Perfect setup A+++. Pic attached.

For some reason I my broker didn't execute my trade set to 1.58200. I've set this up as pending order this morning. Price went down as low as 1.5812. Does anybody know why my trade wasn't executed? (Demo Account with IronFX).

Overall great trade.

Regards to all you folks...
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  • #4,786
  • Nov 7, 2012 11:14am Nov 7, 2012 11:14am
Hi Bolo,

Could you show your setup with lines enclosing the level, on the trading timeframe? It's not quite clear to me from your screenshot what you've seen as an A+++ level.

Thanks.
  • #4,787
  • Edited 6:56pm Nov 7, 2012 4:51pm | Edited 6:56pm
Quoting yoshipau
Hi Ken, entered long from the same supply level that you drawn, was up by about 15 pips then moved SL to BE and got out with nothing.
Had another trade from demand level below, but stopped pretty quick.
Also saw another level just below it, didn't take it but would also be a loss if taken.
Do you think I had the wrong levels?
Small advice, if u are counter-trading search for levels far on the left side of the chart.

http://s15.postimage.org/6v8ma5qkr/C...y_snapshot.png

That level is not perfect but its only an example.

Also, don't do counter D1/h4 trading unless there is strong level on weekly

Quoting Kenneth Lee
the gbp . [8:03:15 AM] Kenneth Lee: I would like to buy about 1.5950 4 hr
[8:03:32 AM] Kenneth Lee: after these attempts to go long
[8:03:49 AM] Kenneth Lee: the lower the buy the better even if it fails should deliver something

this is how i thunk ..
I'm skipping GDP for now, cant find anything clear there, I will start putting longs somewhere between 1.5630-1.5800
  • #4,788
  • Nov 7, 2012 7:04pm Nov 7, 2012 7:04pm
Quoting Peter_FX
Small advice, if u are counter-trading search for levels far on the left side of the chart.

http://s15.postimage.org/6v8ma5qkr/C...y_snapshot.png

That level is not perfect but its only an example.

Also, don't do counter D1/h4 trading unless there is strong level on weekly
Can you elaborate more about the picture?
Why that level would not work?

I pick long trades because I thought price are turning from D1 demand level.

It seems like most of my trades are Counter Trends, but I'm still having so much troubles looking at proper trends.
I'm not really sure what to do when H4 or D1 are close to a supply/demand level.
It's getting really frustrating for me since most of my trades are losers and the winners are not big also
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  • #4,789
  • Edited Nov 8, 2012 2:04am Nov 7, 2012 7:42pm | Edited Nov 8, 2012 2:04am
Quoting yoshipau
Can you elaborate more about the picture?
Why that level would not work?

I pick long trades because I thought price are turning from D1 demand level.

It seems like most of my trades are Counter Trends, but I'm still having so much troubles looking at proper trends.
I'm not really sure what to do when H4 or D1 are close to a supply/demand level.
It's getting really frustrating for me since most of my trades are losers and the winners are not big also
There was a chance it will work for short term scalp but counter trend trading is always risky, if u really must go counter look for solid level on at least 1h and scalp it on 5/10 m chart.

http://s17.postimage.org/408pqjvgv/C...s_snapshot.png

That level was also very crappy on h4 chart.

Quote
I pick long trades because I thought price are turning from D1 demand level.

Don't think, trust me I lost enough money by thinking to much

Wait for traditional confirmation - higher low.

Quote
I'm not really sure what to do when H4 or D1 are close to a supply/demand level.

Scalp it on lower TF then wait for eventual trend reversal confirmation. Trend wont change on one big candle its almost always some kind of complex reversal (rounded bottom/top formation)

Quote
It's getting really frustrating for me since most of my trades are losers and the winners are not big also

Patience, It's much, much harder then it looks and sounds when Sam's talk about it
  • #4,790
  • Nov 7, 2012 7:54pm Nov 7, 2012 7:54pm
Patience, It's much, much harder then it looks and sounds when Sam's talk about it






Well Said...Peter..... above post
  • #4,791
  • Nov 8, 2012 4:54am Nov 8, 2012 4:54am
1h Timeframe

Added the zone which was the demand zone.

Quoting tzkennedy
Hi Bolo,

Could you show your setup with lines enclosing the level, on the trading timeframe? It's not quite clear to me from your screenshot what you've seen as an A+++ level.

Thanks.
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  • #4,792
  • Nov 8, 2012 1:29pm Nov 8, 2012 1:29pm
Quoting bolo
1h Timeframe

Added the zone which was the demand zone.
Thanks Bollo. It looks to me as though the level you marked was touched almost immediately after it formed, which would mean demand was at least partly used up there. Am I on the right lines Ken/anyone?
  • #4,793
  • Nov 9, 2012 3:08am Nov 9, 2012 3:08am
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  • #4,794
  • Nov 9, 2012 4:50am Nov 9, 2012 4:50am
Quoting negi_29
http://www.forexfactory.com/attachme...1&d=1352452087
Upper one is not fresh on this and higher time frames, lower one is a pullback to upper one, good for scalp maybe.

Also I don't draw my levels like that anymore, most of the time price wont get there and if does its going to be after few pullbacks.

http://s11.postimage.org/atd2irvtv/C...s_snapshot.png

This is how i roll, Higher tf zones and entry from small tf if that zone is to big.

btw. I will tell you a secret, best small TF level is the one on the bottom line of higher tf zone, especially if we are trying to get into a trend.
  • #4,795
  • Nov 11, 2012 4:38pm Nov 11, 2012 4:38pm
Quoting yoshipau
Hi Ken, entered long from the same supply level that you drawn, was up by about 15 pips then moved SL to BE and got out with nothing.
Had another trade from demand level below, but stopped pretty quick.
Also saw another level just below it, didn't take it but would also be a loss if taken.
Do you think I had the wrong levels?
Hey, I can't speak for Ken but I can give you my thoughts on this since I was trading that day. The higher time frames were massively bearish so this was counter higher time frame trend.

Although you would expect a bounce from nice clean looking M30 level, if you managed to grab some pips plus a break even out of a failed level then I would call that a success.
  • #4,796
  • Nov 11, 2012 6:22pm Nov 11, 2012 6:22pm
Quoting C-12
Hey, I can't speak for Ken but I can give you my thoughts on this since I was trading that day. The higher time frames were massively bearish so this was counter higher time frame trend.

Although you would expect a bounce from nice clean looking M30 level, if you managed to grab some pips plus a break even out of a failed level then I would call that a success.
You're right C-12, larger time frame is bearish. but I took the long based on D1 demand level.
Price was just going out from the level and I thought my entries would be the pullback for a rally.
Looks like I was wrong, will be more careful about the larger TF.

On to the next one,
USDCHF - Higher TF is bullish, demand level on M30 (Looks like a swap level?)
Was only up by less then 10 pips.
Saw another demand (Swap) level just under it, looks to be a much better level.
Maybe should've entered the trade, but spread was kinda large at that time and just turned on the computer to see what happened.

EURJPY - Higher TF is bearish, supply level on M30 but took it from M15 to get tighter SL.
Works pretty well, should've gotten at least 25 pips but set wrong TP.
TP was just above a demand level on M30, but on M15 it was on the demand level.
At least SL have been moved to BE so no losses were made on this one.

All in all another not profitable day.
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  • #4,797
  • Edited Nov 12, 2012 7:20am Nov 11, 2012 6:34pm | Edited Nov 12, 2012 7:20am
What do you guys think about this one?
Looks to be a very good swap level?
Higher TF is bearish, price only touched the level, so still a good place for short.
I have a PO but didn't get filled, missed by about 1 pip only.
TP would be at around 1.2705 (~30pips).

EDIT: PO executed and TP hit
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  • #4,798
  • Nov 11, 2012 6:39pm Nov 11, 2012 6:39pm
Quoting yoshipau
EURJPY - Higher TF is bearish
I'm already long this off the D1 demand level. Caught a nice entry last Friday. I'm not expecting too much however since the weekly is firmly down.

Here's the H1 as I left it on Friday. Already took 3/4 off and leaving this to run at BE.
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  • #4,799
  • Nov 11, 2012 11:51pm Nov 11, 2012 11:51pm
Quoting C-12
I'm already long this off the D1 demand level. Caught a nice entry last Friday. I'm not expecting too much however since the weekly is firmly down.

Here's the H1 as I left it on Friday. Already took 3/4 off and leaving this to run at BE.
Saw the level on D1 also, but could not find a proper entry on the smaller TF.
How did you enter? How large was your SL?

This is my take on the EURJPY demand level
D1 was too large so look into M30 and M15 to find a smaller level.

There were 2 M30 level, the first one was right above D1 level, so I rather pass it.
Second one was way on the bottom, but it's not first touch anymore so may also pass it.

Found 2 M15 level also, the first one would be great if taken, but when I look into the level it's also not a fresh level for me.
The lower M15 level was the best one for me, but it was right above the M30 level??

When I look all of these levels I couldn't find any levels that I would comfortably take.
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  • #4,800
  • Nov 12, 2012 3:33am Nov 12, 2012 3:33am
Quoting yoshipau
When I look all of these levels I couldn't find any levels that I would comfortably take.
Nice work on pin pointing entries on a lower time. I did the same but averaged into the position. Took some drawdown on the first few positions but EJ was well past the daily ATR and in D1 demand so I was ok with doing this.
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