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B.S. Trading with Kenneth Lee

  • #4,801
  • Nov 13, 2012 5:23pm Nov 13, 2012 5:23pm
A good example on why you need to move SL to BE or lock in some profit when you had the chance.
I set the PO before I left the office, supposed to go home and back to the monitor.
One thing lead to another, ended up in the movies watching Liam Neeson rescuing his family and came back home to see the damage has been done.

Profit was up by ~25 pips then come back to hit SL.
The other supply levels on top of it also didn't work, had PO on one of it with tighter SL.
Trend on either H4 and D1 is down.
Quite frustrating looking at this, especially when your trades are mostly losses than profits
At least I got some of it back on AUD/USD.
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  • #4,802
  • Nov 13, 2012 5:33pm Nov 13, 2012 5:33pm
Quoting yoshipau
A good example on why you need to move SL to BE or lock in some profit when you had the chance.
I set the PO before I left the office, supposed to go home and back to the monitor.
One thing lead to another, ended up in the movies watching Liam Neeson rescuing his family and came back home to see the damage has been done.

Profit was up by ~25 pips then come back to hit SL.
The other supply levels on top of it also didn't work, had PO on one of it with tighter SL.
Trend on either H4 and D1 is down.
Quite frustrating looking at this, especially...
I am a worry pot and never have the guts to trade an extended move, ie sell at lows and buy at highs. I always worry a bigger pull back will come in the next candle or just around the corner. But I admire those who really don't think so much and simply jump in.

On your chart, that's a textbook 3-push for a reversal (in fact, 4-push here). One of the safest patterns.

http://i48.tinypic.com/2m5cvgy.jpg
  • #4,803
  • Nov 13, 2012 7:29pm Nov 13, 2012 7:29pm
Quoting Oshawa
I am a worry pot and never have the guts to trade an extended move, ie sell at lows and buy at highs. I always worry a bigger pull back will come in the next candle or just around the corner. But I admire those who really don't think so much and simply jump in.

On your chart, that's a textbook 3-push for a reversal (in fact, 4-push here). One of the safest patterns.

http://i48.tinypic.com/2m5cvgy.jpg
Okay this is new for me, I didn't know about the 3-push for a reversal thing.
All I did was trade following the higher TF trend, which is to short in this case, and enter at the supply zones.
I may still need to work on my zones, but lower low and lower high actually tells me that trend on current TF also down.
  • #4,804
  • Nov 13, 2012 7:57pm Nov 13, 2012 7:57pm
Wonderful stuff Ken, thank you as always
All systems of divination, like music itself,work through patterns.
  • #4,805
  • Nov 14, 2012 6:46am Nov 14, 2012 6:46am
Quoting yoshipau
A good example on why you need to move SL to BE or lock in some profit when you had the chance.
I set the PO before I left the office, supposed to go home and back to the monitor.
One thing lead to another, ended up in the movies watching Liam Neeson rescuing his family and came back home to see the damage has been done.

Profit was up by ~25 pips then come back to hit SL.
The other supply levels on top of it also didn't work, had PO on one of it with tighter SL.
Trend on either H4 and D1 is down.
Quite frustrating looking at this, especially when...

My thought ,,
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Good Trading To All ; Ken Lee
  • #4,806
  • Nov 14, 2012 7:17am Nov 14, 2012 7:17am
bit more
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Good Trading To All ; Ken Lee
  • #4,807
  • Nov 15, 2012 1:29am Nov 15, 2012 1:29am
Quoting Kenneth Lee
bit more
Hi Ken, Thanks for the explanations. Everything looks clearer now.

Not that I'm ignoring the news but with PO it's quite difficult to know between when the order executed and news release.

As for the price action I still need a lot to learn. but your post #919 back in page 62 was a really great example.

Also have another PO on EU that didn't get filled.
Price went through the order but due to news the spread became 10 pips and did not meet the Bid Price.
Would you cancel the PO if it were you Ken?
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  • #4,808
  • Nov 15, 2012 9:49pm Nov 15, 2012 9:49pm
Following previous PO... didn't work.
Was not a fresh level anymore, should've cancelled the PO.

Got on the long after that.
Didn't reach the TP, but locked in some profit here and there then moved SL ~+7.
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  • #4,809
  • Nov 16, 2012 8:39am Nov 16, 2012 8:39am
Hi Kenneth and others,

I found another Sam Seiden. He is really good and offers a free trial also. It is the same as you teach Kenneth, but here you can find also a lot of video's. I like the way you explain demand and supply, and I hope that this side will go a long way. I'm arrived at page 120, so I have a long way to go.
Here is the link.
( http://www.purefinancialacademy.com/...ding-blog-main
  • #4,810
  • Nov 17, 2012 2:30pm Nov 17, 2012 2:30pm
Quoting Kenneth Lee
The pdf is Below ,, Sorry not the highest quality but should be enough to start a dialogue.
hi Kenneth,

just to say thanks .. your "BS Trading pdf" is nicely done.

Maybe just one small feedback.

page 32: Putting The Plan Together

you write:
Quote
4. Make sure it traveled at least 2:1 level width to it's
farthest point......
5. Find where your first TP would be look for at least 3:1...
which seems to be a slight contradiction ... (except one enters the trade in the middle of the base or even close to the SL)

Anyway I think you did it nicely

regards
R
  • #4,811
  • Edited 7:52pm Nov 17, 2012 6:23pm | Edited 7:52pm
Quoting Ratatuia
hi Kenneth,

just to say thanks .. your "BS Trading pdf" is nicely done.

Maybe just one small feedback.

page 32: Putting The Plan Together

you write:
which seems to be a slight contradiction ... (except one enters the trade in the middle of the base or even close to the SL)

Anyway I think you did it nicely

regards
R

two totally different aspects of the plan..

good hunting Ken
Good Trading To All ; Ken Lee
  • #4,812
  • Edited 1:46pm Nov 18, 2012 4:03am | Edited 1:46pm
Hi Ken,

this thread was started on Aug 23, 2011 but you obviously have much more trading experience being a member since: Nov 2008
also I saw you are a Master Contributor at babypips.com since: Aug 2007


May I ask you kindly:

1.
you have a lot of past experience and seen, read, tried many things ...you also seem to be a kind and honest person ... so no point for someone like me to re-do all the unnecessary stuff (I know experience is never unnecessary even mistakes .. but I hope you get my point ...why not focus on something an experienced person has tried, tested and found to be the working solution for him...)

I'm sure you must be satisfied with your current trading method to some degree (it seems you had that also at the other threads you were involved for some time: Trade what you see NOT what you expect and Ken's Continuing Successes with EO's system)

at your other thread you wrote:
Quoting Kenneth Lee
My progression in my trading has fundamentally changed , .......
The new information is just a lot diffeerent than the past .. But great trading to all . I hope everyone finds what they need to trade well. ken

*do you feel that you have now "arrived" at your trading style ... (basically not looking for many new changes, tweaks ect. ect.. )
*or are still hoping for major improvements... maybe expect .. like before that you will say in the near future: My progression in my trading has fundamentally changed
I guess with your trading experience you will have some ideas....if it is just any good method or maybe the "real thing" for you....

if it's not too personal (otherwise just skip it): do you make a living by trading or still have a day job....

2.
you mention you trade mainly the M30 ... do you have an estimate how many trades you will have per day (or weekly) .. on average.. Thanks so much

3.
over the 1 1/2 year of this thread .. do you feel (your own assessment) that your trading style did evolve a lot or is it basically just the same ..
I know when I have read through the thread I should know what I think .. but I would be interested what is your own assessment of it.


kind regards
R
  • #4,813
  • Nov 19, 2012 12:59am Nov 19, 2012 12:59am
Quoting toktok
Hi Kenneth and others,

I found another Sam Seiden. He is really good and offers a free trial also. It is the same as you teach Kenneth, but here you can find also a lot of video's. I like the way you explain demand and supply, and I hope that this side will go a long way. I'm arrived at page 120, so I have a long way to go.
Here is the link.
( http://www.purefinancialacademy.com/...ding-blog-main
Just finished page 120 too was actually at page 116 when I read your post.
Thanks for the link toktok, I'll watch the videos when I have the time, always happy to learn from anyone who use the same teaching as Sam & Ken.
But at the moment I'm still trying to find the time to watch Sam's latest webinar.
  • #4,814
  • Nov 19, 2012 6:15pm Nov 19, 2012 6:15pm
Hi Guys, what do you think about this one?
Has been in it since ~9 hours ago and not moving much.
at the moment is -2.5pips, but have been ranging to +4pips.
  • #4,815
  • Nov 19, 2012 6:17pm Nov 19, 2012 6:17pm
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  • #4,816
  • Nov 20, 2012 2:52pm Nov 20, 2012 2:52pm
1.
you have a lot of past experience and seen, read, tried many things ...you also seem to be a kind and honest person ... so no point for someone like me to re-do all the unnecessary stuff (I know experience is never unnecessary even mistakes .. but I hope you get my point ...why not focus on something an experienced person has tried, tested and found to be the working solution for him...)

I'm sure you must be satisfied with your current trading method to some degree (it seems you had that also at the other threads you were involved for some time: Trade what you see NOT what you expect and Ken's Continuing Successes with EO's system)

at your other thread you wrote:
Quote:
Originally Posted by Kenneth Lee http://images.forexfactory.net/buttons/viewpost.gif
My progression in my trading has fundamentally changed , .......
The new information is just a lot diffeerent than the past .. But great trading to all . I hope everyone finds what they need to trade well. ken



*do you feel that you have now "arrived" at your trading style ... (basically not looking for many new changes, tweaks ect. ect.. )
*or are still hoping for major improvements... maybe expect .. like before that you will say in the near future: My progression in my trading has fundamentally changed
I guess with your trading experience you will have some ideas....if it is just any good method or maybe the "real thing" for you....

Those were just two of the threads, You found That i was involved in. I Migrated from Babypips as well. But my total focus in trading was also " The simplest ideas always seem to be the best" As is anything in live most everything has underlying basic ideas or structure which if you can find it and understand what your looking at, is the root or foundation to everything that follows.

Most people are always on that quest looking for that bullet proof Signal that says "Jump ! NOW !!" But I have never seen anything that worked so well that you would take those blind fate trades 100% of the time. As I have tried to say over and over . The signals that most are looking for are normally formed after you should have gotten in the trade. In almost every trading I idea i have seen or tried to learn from others , I found that for the most part their best trades and trading normally even varied from their trading ideas of a entry signal and was more of taking trades at levels they picked off charts of higher time frames 4 hr and daily and they didn't wait for a signal they took the trade then managed it like a pro.

That is the sole idea most never come to understand the difference from a expert at this and us that try and become even adequate is the management issue . First Money management not over risking , over trading , or over losing. The trade management learning to take as much as you can from each trade and knowing the difference between when you should take the small gains overed or hold for massive ones.

So taking the idea that the best entries are the ones just taking from levels of interest, Me stumbling upon Sam's webinars opened my eyes to what I have done over the years for businesses I ran for others , Buying and Selling. Which no matter how you cut it is all we are doing. Buy low sell high and hold the winners and close those that cross your swing . That IS trading in 15 words. But even knowing what we are suppose to do, it doesn't come easy for most I believe as we are mentally different and most of us live our life's from a position of thinking we are poor and lacking . So we tend to grab for every little gain and fear any lose making them bigger. Those that know that losing is but a part of the game arrive sooner than the rest. Some can never shift their thinking and struggle till they give up in despair beaten once again in life.

So Find what YOU CAN SEE as a core element and build on it . If you need a signal to take a trade then see why that signal is built . The Price Action always comes first. Not after. Then make your main focus on winning and let the losers get stopped and move on . The guys that were trading the 1 min chart had the right idea . But I see they have gotten askew somewhere letting trades go against them and saying they are trying to build bigger trades . The entry no matter where it is or what time frame should always be the beginning . if you want to hold a trade as a swing trade then hold the winners don't build on the losers. EVER !!!!!!!!!

So for me anyway this Supply and Demand trading , has become my core style . I do still take trades based of Classic core ideologies that I know a large group might focus on as the knowing that a sizable amount of money may enter the market almost always gives opportunity even if it just a scalp. A few would be Fading zeros (with the trend) large fib numbers off a longer time chart. But key is for me is watching Price Action and looking for price to become exhausted near a spot I have a interest in and then taking the risk . 4 hr and daily levels are almost always taken without hesitation as even if they fail they provide some gains.

I still look for small gains pip wise but rather large precentage per week. But trading a idea that gives you strong rules as far as risk goes this is not as dangerous as some think. But living by the rules is paramount even if you tweak them a bit or take trades off say a 1 min chart but place a stop off a 15 min. But you must develop rules you will use or you will always struggle ultimately failing.


if it's not too personal (otherwise just skip it): do you make a living by trading or still have a day job....

I traded for a living for about two years then had some obligations that came up that made me liquidate most of my account and had me start from ground zero. Plus this was before I found this style of trading which if for no other reason i have become very comfortable with.

2.
you mention you trade mainly the M30 ... do you have an estimate how many trades you will have per day (or weekly) .. on average.. Thanks so much

I will have a trade almost anytime I sit down at my computer anytime of the day. The difference is I don't limit myself to only taking trades with guaranteed results of a certain ratio or dollar value i take trades that have the ability to make me more to add to my equity. The key for my trading this way is being able to see where price is coming from and going. Just keep in mind that price is always moving between those levels we search for and that as trading volume falls off so does the ability for price to make drastic changes and break major areas. So when trading OFF hours look for the entries that happen and the newer levels not so much the best oldest ones. Price doesn't have the mass to move int those then , a lot of times.

These days with all the bad economies around the globe and the breaking news all the time . it is even more important to protect your equity. with realistic stops. but in that same token it also provides some fantastic trading gain chances. You will see i don't respond to many questions regarding levels being good or bad, As that is not what i am doing here. The focus of this thread is to teach others how to SEE for themselves. You pick a level you watch Price Action and come back and you will see if you picked right or not . Keep track and take notice and you will all figure out what to look for.

Sorry I get of topic a lot .... i take about 6 to 10 trades on a normal full day. trading u.s, OZ and Asia . I also get a trade almost every morning before the U.S. opens

3.
over the 1 1/2 year of this thread .. do you feel (your own assessment) that your trading style did evolve a lot or is it basically just the same ..
I know when I have read through the thread I should know what I think .. but I would be interested what is your own assessment of it.

I think my trading is basically the same as always, but i now think about what i see differently in a more basic simple fashion. Not looking for the cow to jump over the moon before entering a trade. if you go back to my beginnings at Babypips. My thinking has always been geared towards simple.

I guess my personal growth intrading has mainly come in the form of trading management, I have set things in place to first protect equity so i can always trade tomorrow. and I also now take bigger trades than i used to. The bigger trades are a normal issue of trading the 30 min verses the 15 min. charts as of course the levels are further apart. i remember times i thought i couldn't get more than 7 pips on any trade. i am still not making the hundreds or thousands they did on EO's thread but I also don't open a lot of trades at once being happy with slow and steady.

Hope this answered some of your queries. Cheers Ken
Good Trading To All ; Ken Lee
  • #4,817
  • Nov 20, 2012 3:00pm Nov 20, 2012 3:00pm
Quoting yoshipau
Clicked Post new reply instead of upload attachments

Yes nice level and hope you let it TP at your mark. here is a interesting chart showing how combining ideas can work in your favor as long as the ideas mesh together and don't cause conflicting thoughts in your mind. a clear head is very important.

the chart is a Loonie chart the lines are S/R lines from at least 2 or 3 years ago. Red daily Whit 4 hr . I just have never removed them and it just always amazes me how they continue to come into play . but of course now days i can tweak them a bit if i wanted and the turns would be more spot on . This is the only chart i have like this . and sometimes price moves out of the lines . but like moths to a candle it always comes back.
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Good Trading To All ; Ken Lee
  • #4,818
  • Nov 20, 2012 4:57pm Nov 20, 2012 4:57pm
Quoting Kenneth Lee
Yes nice level and hope you let it TP at your mark. here is a interesting chart showing how combining ideas can work in your favor as long as the ideas mesh together and don't cause conflicting thoughts in your mind. a clear head is very important.

the chart is a Loonie chart the lines are S/R lines from at least 2 or 3 years ago. Red daily Whit 4 hr . I just have never removed them and it just always amazes me how they continue to come into play . but of course now days i can tweak them a bit if i wanted and the turns would be more spot on...
Hi Ken, woke up to find this.
0.5 pip!!! After waiting for so long to see TP missed by 0.5 pip.
Oh well, at least I know that this was the trade that 'work' and I was in it.
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  • #4,819
  • Nov 20, 2012 5:12pm Nov 20, 2012 5:12pm
Quoting yoshipau
Hi Ken, woke up to find this.
0.5 pip!!! After waiting for so long to see TP missed by 0.5 pip.
Oh well, at least I know that this was the trade that 'work' and I was in it.

yes i tend to place my TP's a bit lower than even my entries. I would have probably placed closer to the low on the 12th of november.
Good Trading To All ; Ken Lee
  • #4,820
  • Nov 21, 2012 11:48am Nov 21, 2012 11:48am
Hi Ken...great thread thank you for your efforts.

Looking at the eurusd would I be correct in assuming that we are in a possible swap scenario based off the daily levels? Secondly if you have answered previously then my apologies: what is the role of the 50ema?
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