B.S. Trading with Kenneth Lee | Page 295 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Day Trading vs. Swing Trading vs. Position Trading 86 replies

Attachments: B.S. Trading with Kenneth Lee
Exit Attachments

B.S. Trading with Kenneth Lee

  • #5,881
  • Jul 12, 2013 5:09am Jul 12, 2013 5:09am

Hi Ken!

Recently checked your chart and compared with my broker.

Interesting thing for so huge candles at 4 Hr.

You marked by green lines a swap zone. Which created a supply zone. But at your chart where were a couple of candles in my case it was just one bearish candle.. Sense the same.


Attached Image(s) (click to enlarge)
Click to Enlarge Name: 246.jpg Size: 320 KB
Click to Enlarge Name: audusdh4.png Size: 41 KB
  • #5,882
  • Jul 12, 2013 5:29am Jul 12, 2013 5:29am
Quoting Kenneth Lee
opportunity exists at all times.. {image}
Hi ken,
I am just interested in knowing why you considered shorting as there is an uptrend in place. Isnt the risk of the zone being violated higher for this trade?

Thanks
  • #5,883
  • Jul 12, 2013 6:25am Jul 12, 2013 6:25am
Since begining this new journey of SD trading i make a few observations. The placing of a limit order so that we can set and forget seems attractive at first but i think in terms of risk this is more than placing a market order which means looking at the chart during the time(not so attractive).This point is made in the recent trade i made on eurusd 1hr, a supply zone was identified as shown and whilst the down TL was still intact.

As can be seen the trendline was breached and the price shot through the zone, had i waited for placing a market order this would have been noticed and trade avoided- Unless the zone i had originally identified was wrong in the first place.
Anyone please forward your suggestions.
Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh1.png Size: 28 KB
  • #5,884
  • Jul 12, 2013 6:56am Jul 12, 2013 6:56am
Quoting Gxp1
{quote} Hi ken, I am just interested in knowing why you considered shorting as there is an uptrend in place. Isnt the risk of the zone being violated higher for this trade? Thanks

Doesn't look very upish to me ... Think it is either near or spot on 50 or 61.8 fib as well a good retracement spot. and the 30min had stalled and started back down
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 38 KB
Good Trading To All ; Ken Lee
  • #5,885
  • Jul 12, 2013 7:06am Jul 12, 2013 7:06am
Quoting Gxp1
Since begining this new journey of SD trading i make a few observations. The placing of a limit order so that we can set and forget seems attractive at first but i think in terms of risk this is more than placing a market order which means looking at the chart during the time(not so attractive).This point is made in the recent trade i made on eurusd 1hr, a supply zone was identified as shown and whilst the down TL was still intact. As can be seen the trendline was breached and the price shot through the zone, had i waited for placing a market order...


FOMC statements and big Ben speeches tend to move the markets. So learn what are the big movers for the pairs you trade and avoid PO's before they come out. AS marked on the chart I tried a short there as well scalped 10 but bailed . So many times the failures are due to news and avoidable. So then folks think the idea is flawed. Os they start adding more to bring in safety when the more is less in trading in my opinion.

Look at Oz and NZD/USD after I closed my longs there were two shorts one was a flip the other a fresh level, So depending on what your favorites are they were there waiting on you.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Image1.png Size: 36 KB
Click to Enlarge Name: Image2.png Size: 34 KB
Click to Enlarge Name: Image3.png Size: 41 KB
Good Trading To All ; Ken Lee
  • #5,886
  • Jul 12, 2013 7:59am Jul 12, 2013 7:59am
Quoting Kenneth Lee
{quote} Personally I keep a eye on the spreads , at times they seem to have a mind of their own, But it is pretty common of when they jump so keep it in mind , hate to give away 10 or 20 pips to broker when waiting a second and it drops back to 1.8.

Ok. Thanks!
  • #5,887
  • Jul 12, 2013 8:54am Jul 12, 2013 8:54am
Another small trade.. swap level can't see it on the 30 min but is clear on 1 hr. was where my tp was originally on the short but closes it early.

P.S> closed because news was due out in 5 min.

Everyone have a great weekend.. Cheers Ken
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 35 KB
Good Trading To All ; Ken Lee
  • #5,888
  • Jul 12, 2013 9:04am Jul 12, 2013 9:04am
Last chart
Attached Image (click to enlarge)
Click to Enlarge Name: 247.jpg Size: 507 KB
Good Trading To All ; Ken Lee
  • #5,889
  • Jul 12, 2013 9:28am Jul 12, 2013 9:28am
Quoting TraderinSD
{quote} Hey Lou, Having not seen this particular video.. What I can say is that I would agree with Sam ( for the most part ) in this area. I tend to look at the Pattern within the Pattern to help determine direction. ( see my previous posts on this thread ). What I have learned along the way ( most important ) when trading 1-5min that one's TP must be smaller :: Agreeing with the 1:1, 1.5:1 or maybe ??? a 2:1..maybe..? SL are always smaller .. but the beauty is we can increase our position size ( I trade a 2 lot most of the time) moving to 4 lots...

Dear traderinsd
What does pattern within pattern to determine trend?
Thanks
  • #5,890
  • Jul 12, 2013 9:34am Jul 12, 2013 9:34am
Quoting 4Xfactor
{quote} Ken, thanks for the information. I am very new to this :-) But was recently watching a Webinar by Sam Seiden in which he talked about the difference between Spot and Futures. In Spot he especially spoke about widening spreads at S/D zones. This occurs because the banks get paid no matter what, and because there is so much activity at these zones they widen spreads etc . To account for this he uses slightly wider stops when trading Spot. I was wondering if this phenomena explained the spiking you are talking about? Regards,
Do you have the link of that video

Martin
  • #5,891
  • Jul 13, 2013 4:06am Jul 13, 2013 4:06am
Hi Ken,

Thanks for the trade examples, always good to see.

Just had a quick question about the AU flip level, I know you pay a lot of attention to market structure (highs and lows etc) as do I so was curious about your thinking on this one. I would have been slightly put off by the higher lows leading up to the trade, even though we also have a significant lower high in our favour. Any particular reason it didn't bother you in this trade?

Attached Image (click to enlarge)
Click to Enlarge Name: ex.png Size: 11 KB
  • #5,892
  • Jul 13, 2013 5:31am Jul 13, 2013 5:31am
Just hwat is BS trading? By the creators definition may I ask?
Time hides Nothing
  • #5,893
  • Jul 13, 2013 9:22am Jul 13, 2013 9:22am
Hi Ken.., 1st i want to say thanks alot for all the member of this thread.. especially for ken. u help me alot. im from indonesian and im almost give up to this trading.. 2 years in this trading and still lose a lot of money. Now i just want to said after i read ur pdf and practice, my equity is growth amazing.. even im still have a 50% accuracy but my reward is bigger than my lose... im keep learning this snd.. keep it simple,stick with the plan. im practice this for 1 month.. and now im using leverage 1:5. thx Ken.. i dont know how to say this but really.. thx alot...God bless you!!!
  • #5,894
  • Jul 13, 2013 2:06pm Jul 13, 2013 2:06pm
Quoting caj1986
Hi Ken, Thanks for the trade examples, always good to see. Just had a quick question about the AU flip level, I know you pay a lot of attention to market structure (highs and lows etc) as do I so was curious about your thinking on this one. I would have been slightly put off by the higher lows leading up to the trade, even though we also have a significant lower high in our favour. Any particular reason it didn't bother you in this trade? {image}
Chart
Attached Image (click to enlarge)
Click to Enlarge Name: 249.jpg Size: 704 KB
Good Trading To All ; Ken Lee
  • #5,895
  • Jul 13, 2013 2:07pm Jul 13, 2013 2:07pm
Quoting CindyXXXX
Just hwat is BS trading? By the creators definition may I ask?

Buying and Selling
Good Trading To All ; Ken Lee
  • #5,896
  • Jul 14, 2013 5:32am Jul 14, 2013 5:32am
Quoting sariya
{quote} Dear traderinsd What does pattern within pattern to determine trend? Thanks

Got it Traderinsd, Sorry didn't read thread completely. By the way thanks for explanation
  • #5,897
  • Jul 14, 2013 5:08pm Jul 14, 2013 5:08pm
Little Sunday afternoon scalp to start the week Low volume time so I don't risk it and take what is offered pretty quick . a nice 25 pip cushion for start of week is OK with me.
Attached Image (click to enlarge)
Click to Enlarge Name: 250.jpg Size: 282 KB
Good Trading To All ; Ken Lee
  • #5,898
  • Jul 15, 2013 12:50pm Jul 15, 2013 12:50pm
I made a little over 1k on a 6J trade I took this morning on a reaction to the 0830 news.

I did not know that currency reacted to US retail news. Can some one help me out here?

I took the trade on a 10 minute 6J chart.

TIA

DM
Trade smart. OR JUST DON'T TRADE!!!
  • #5,899
  • Jul 16, 2013 8:48am Jul 16, 2013 8:48am
Quoting detroitmoney
I made a little over 1k on a 6J trade I took this morning on a reaction to the 0830 news. I did not know that currency reacted to US retail news. Can some one help me out here? I took the trade on a 10 minute 6J chart. TIA DM
Hi DM, good staff!
You mentioned you trade 6J. Do you try to use volume for the strategy?
  • #5,900
  • Jul 16, 2013 9:29am Jul 16, 2013 9:29am
Hi bisecom

I do not use volume or any indicators in my trading. S&D and PA.
Attached Image (click to enlarge)
Click to Enlarge Name: 6J trade 7-15.JPG Size: 139 KB
Trade smart. OR JUST DON'T TRADE!!!
4 traders viewing now