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B.S. Trading with Kenneth Lee

  • #5,241
  • Apr 2, 2013 2:48am Apr 2, 2013 2:48am
Quoting keroro0o0o
Does demo practice count?
Oops, I should have been more careful with my wording. I mean real-time practice, not backtesting. Demo is fine, I'm still doing this on demo myself. Good results but I still don't quite trust myself.
  • #5,242
  • Apr 2, 2013 4:03am Apr 2, 2013 4:03am
Quoting Kanzler
Oops, I should have been more careful with my wording. I mean real-time practice, not backtesting. Demo is fine, I'm still doing this on demo myself. Good results but I still don't quite trust myself.
That's good to hear. Don't trust yourself, trust supply and demand will do.

All da best bud!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #5,243
  • Apr 2, 2013 5:40am Apr 2, 2013 5:40am
Quoting Kanzler
Oops, I should have been more careful with my wording. I mean real-time practice, not backtesting. Demo is fine, I'm still doing this on demo myself. Good results but I still don't quite trust myself.
Kanzler,

I encourage you to go live with a small $risk per trade like 5$ or 10$. You have proven that you understand how to read the market, at least to brake even. Now, you need to learn how to control your emotion and, this is not learn in demo. Demo is good to familiarized yourself with the platform and to understand how to at least brake even.

You will learn the greed and fear that others experience. The adrenaline rush when your stop is targeted or your profit objective is reach as nothing to do in demo compare to the real life.

I know because I had experience it. I was reaching for the perfection in demo trading. Once I taught that I understand it, I went live. Not the same game as I had to learn how to deal with my emotion. When I was in demo, a friend told to me, what I'm telling you now. Demo emotion is nothing compare to real live experience. I was not believing him at that time.

Start low, but start now. Don't increase your Risk$ before you are confident with your emotion. Your learning skill as been acquired, now it's time to feel the real thing.

Good luck and best wish for your live trading career.

Martin
  • #5,244
  • Apr 2, 2013 8:57am Apr 2, 2013 8:57am
today my gbpusd trade. i see price was turned back by the previous weekly level then i zoom in to day one chart an find a base at the breakout point.
  • #5,245
  • Apr 2, 2013 9:02am Apr 2, 2013 9:02am
here are my charts
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  • #5,246
  • Apr 2, 2013 9:08am Apr 2, 2013 9:08am
my another trade euraud time frame 4hour
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  • #5,247
  • Apr 2, 2013 12:49pm Apr 2, 2013 12:49pm
Quoting arjfca
Kanzler, I encourage you to go live with a small $risk per trade like 5$ or 10$. You have proven that you understand how to read the market, at least to brake even. Now, you need to learn how to control your emotion and, this is not learn in demo. Demo is good to familiarized yourself with the platform and to understand how to at least brake even. You will learn the greed and fear that others experience. The adrenaline rush when your stop is targeted or your profit objective is reach as nothing to do in demo compare to the real life. I know because...
I should, but as I'm jobless right now I'm really trying to play it rationally safe. My savings are small and burning money isn't something I can afford to do right now as the bill collectors don't really care if you have income or not.

While I've seen good results (last week I pulled 3% risking 1% per trade, this week I have a couple more risk-free trades going that could perform similarly or better), I'd like to repeat this for several more months to make it a good habit and to become truly trusting of the trading methodology. Even with a demo it's easy to become discouraged in a minor drawdown, and this is one thing I'm concerned about. I know it's coming, but I don't know how I'll handle it - to tell the truth, I do cut my losers short but it still burns me up to do it. If I can experience that kind of event and pull through on demo, when I put my real cash behind it the amplified emotions that cause problems trading live won't be as bad and I'll be able to deal with it. I appreciate the post though, just wanted to be honest. I may have some good trade results but I'm just as big a wannabee as most people here until I can show statistically significant, longer term returns.
  • #5,248
  • Apr 2, 2013 6:23pm Apr 2, 2013 6:23pm
Quoting Kanzler
I should, but as I'm jobless right now I'm really trying to play it rationally safe. My savings are small and burning money isn't something I can afford to do right now as the bill collectors don't really care if you have income or not. While I've seen good results (last week I pulled 3% risking 1% per trade, this week I have a couple more risk-free trades going that could perform similarly or better), I'd like to repeat this for several more months to make it a good habit and to become truly trusting of the trading methodology. Even with...
EXACTLY!! Guess we're on the same page, except for the jobless part.

Keep it up buddy!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #5,249
  • Apr 2, 2013 10:01pm Apr 2, 2013 10:01pm
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We got long on a 2 lot @ 92.84

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Price moving nicely towards our TP. Moved stop up a bit just in case price decided to come back down.

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Price hit our TP

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4HR TF view showing why I picked this level.


Total pipage for the 2 lots 120 plus


Good trading to all

TSD
  • #5,250
  • Apr 3, 2013 6:05am Apr 3, 2013 6:05am
A skype group should be welcome to new one like me . I have a question: swap levels can be used in RBD and DRB only? Some swap levels form RBR DBD zones cant work.
  • #5,251
  • Apr 3, 2013 7:18am Apr 3, 2013 7:18am
Quoting bobyv87
A skype group should be welcome to new one like me . I have a question: swap levels can be used in RBD and DRB only? Some swap levels form RBR DBD zones cant work.
Swap levels are generally RBR or DBD . Then the entry from them will become a RBD or DBR because price tunrs forming the top or bottom of a swing.

Don't have a Skype group just me and my sister now and again .. Cheers
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Good Trading To All ; Ken Lee
  • #5,252
  • Apr 3, 2013 7:29am Apr 3, 2013 7:29am
10 min view of the above swap and formation of the first Supply level the Drop Base Drop
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Good Trading To All ; Ken Lee
  • #5,253
  • Apr 3, 2013 10:30am Apr 3, 2013 10:30am
Hi Kent Lee,

Just want to say thanks for the information, you really explain the trade step by step, which is easily understand by a newbie like me.

I have been looking for PA info, but you give it out freely in your pdf.

You are the truly a teacher who is not asking for return, Wish you have a great trade Kent Lee..
  • #5,254
  • Apr 3, 2013 10:47am Apr 3, 2013 10:47am
Thank you Ken! I realy apreciate your work. If i missing a swap level RBD, and DBR wich is formed from a swap level can be a valid level? If yes ...until when?

Levels above the swap level can be considered valid if i took a swap level?
  • #5,255
  • Apr 3, 2013 12:35pm Apr 3, 2013 12:35pm
Quoting bobyv87
Thank you Ken! I realy apreciate your work. If i missing a swap level RBD, and DBR wich is formed from a swap level can be a valid level? If yes ...until when? Levels above the swap level can be considered valid if i took a swap level?
There has to be some way to measure your risk, if there really was some supply or demand where price cut through then there will be a level but it may take some dialing down to see it clearly depending on how strong the move was (and thus how long it took to eat through it).
  • #5,256
  • Apr 3, 2013 2:20pm Apr 3, 2013 2:20pm
Quoting bobyv87
Thank you Ken! I realy apreciate your work. If i missing a swap level RBD, and DBR wich is formed from a swap level can be a valid level? If yes ...until when? Levels above the swap level can be considered valid if i took a swap level?

All Levels are valid until they are broken or price passes in front of them . The more times Price approaches a level the higher the risk it will fail.
Good Trading To All ; Ken Lee
  • #5,257
  • Apr 3, 2013 2:36pm Apr 3, 2013 2:36pm
One thing I really remember from a very awesome trader, (infinity) was the statement that a entry signal is always good until it is broken.

So if we know all the classic trading entries IB's . Pins and all the other then use those as confluence. It can take some of the edge off as far as being scared to take trades. This is why i take some trades that aren't to this s/d 100% Is there are many really good trading ideas and when you know a few 100% it is never wrong to incorporate. Just keep in mind To me Supply and Demand is hands down the best thing i have seen . it uses only one set of rules across all the time frame charts making it easier to see.
Good Trading To All ; Ken Lee
  • #5,258
  • Apr 4, 2013 6:20am Apr 4, 2013 6:20am
Quoting TraderinSD
Sorry for the delay... When looking at the spread of a candle, it is the spread of the candle, in reference to the tick volume, that can help you determine if price will continue or there may be a turn coming up. The spread is the distance between the high and low... (not the open or close or bid/ ask) So for example:.. When we see a strong move into an level. The candles have a good spread/distance between the high and low, we know that the SM's are behind this move. How?? They are they only ones that can create this type of move in the market......
Hi Tsd,

I would interprete your explanation as following;

"When we see a strong move into an level. The candles have a good spread/distance between the high and low, we know that the SM's are behind this move. How?? They are they only ones that can create this type of move in the market... Ideally, we should see a succession of increasing volume bars that accompany the high spread activity of the candles moving into our level. Once price reaches our level..3 things will happen.. 1) Price just keeps on going - blowing right through our level (happens all the time) 2) Price stalls out.. the spread get narrow..volume dries up ( IN THE CONTEX ON THE PRECEDING VOLUME ).. Price may range and go down or it may range and continue on...here is were you have to look at the candle action/spread and volume with in the contex. 3) Price may slam into our level and bounce back hard in the direction it came from. ( This is why I tend to step down in TF .. A look inside so to speak.. To see if PA and Volume will give me a better picture as"

Once price reaches our level..3 things will happen..

1) SM is buying, absorbing
2) if price ranges and go down, SM is selling, distributing. If price ranges and continue on, SM is buying.
3) SM is selling, distributing.

Would like to hear your comments..

Thank you in advance.
  • #5,259
  • Apr 4, 2013 1:32pm Apr 4, 2013 1:32pm
Quoting Kenneth Lee
One thing I really remember from a very awesome trader, (infinity) was the statement that a entry signal is always good until it is broken. So if we know all the classic trading entries IB's . Pins and all the other then use those as confluence. It can take some of the edge off as far as being scared to take trades. This is why i take some trades that aren't to this s/d 100% Is there are many really good trading ideas and when you know a few 100% it is never wrong to incorporate. Just keep in mind To me Supply and Demand is hands down the best...

This is a VERY important statement here. The beauty of this method as KL has stated ' it uses only one set of rules across all the time frame charts making it easier to see ' Additionally you have the ability to add to this method in various way that allow you you to fit it to your trading style..Confluence levels, PIN's, S/R's, Volume , etc ( as KL has stated ) The basic foundation is EXCEPTIONALLY strong. You can trade is all TF's very profitably.. Yes, some TF's may be harder that others.. Requiring more capital or setting smaller targets or, simply adjusting position size. One can trade both trending and range markets very effectively... Very few methods allow for this. Most are either trend or range.

Once you have solid understanding of the basic foundation.. You can decide to stay with what you have or add something " it is never wrong to incorporate "

As always thanks KL

TSD

"
  • #5,260
  • Edited 2:31pm Apr 4, 2013 2:12pm | Edited 2:31pm
Quoting Kenneth Lee
if your looking to enter a longer chart time level. 4hr or above. Look to enter on the flip off a fast chart. Which is the first formed level after the larger level was hit. This is what Sam is talking about when looking for his daily trading entry every am. he looks for levels on the 30 min or 1 hr chart then looks for a entry on a 2 min or 5 min chart. looking for a flip . I know I got of topic but a bit of info folks have asked me about.. Also for the record I never look for a entry indicator my indicator is Supply and demand and how price is...
Could you reference that Sam Seiden video Ken? as I have never heard him talk about flips. As a rule he always states he never cuts through candles. If its the video I am thinking 'Forex Trading for Short Term Income', then I got a different interpretation. He's looking for momentum moves off the higher time frames 240-30 min, identifying 15 min levels and then making sure they are fresh by refining these levels down to the 5min. Not being pedantic just just seeking clarity. Perhaps it was another vid that I haven't seen.

With regards the purple line swap level -more of an support resistance level by the looks of it(?), that's an interesting concept. But wouldn't it be more likely that it is just reacting to that failed weak demand level just above the origin of the tradable supply level, rather than a reaction to the swap/sr level that caused the supply?
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