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B.S. Trading with Kenneth Lee

  • #5,901
  • Jul 16, 2013 5:05pm Jul 16, 2013 5:05pm
Took out 1247.50 today over several trades and kept it.

This 6E one was a nice one.
Attached Image (click to enlarge)
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Trade smart. OR JUST DON'T TRADE!!!
  • #5,902
  • Jul 17, 2013 1:45pm Jul 17, 2013 1:45pm
Took out 2472.50 today.

Made some nice money on this chart, the rest was in CL.
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Trade smart. OR JUST DON'T TRADE!!!
  • #5,903
  • Edited 5:29pm Jul 17, 2013 4:03pm | Edited 5:29pm
Here's one on 6E I still have cooking. I entered this position late in the day to see what will happen in the Asian session with it. When it gets to $150 I will move it to BE+1 as those are my rules on that. I do not let a winner turn into a loser. WHEN I take a loss it is because I had my zone wrong and no other reason. I try not to have but one losing day a month. Hey it happens right? When I say losing day I mean not make ANY money and giving them some of mine. NOT losing 1-2 trades. That happens daily just about. Below is a shot of today's blotter for my sim account not including this 6E position I am managing currently.

EDIT: I was stopped out of the position at BE+1.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: sim blotter 7-17.JPG Size: 86 KB
Click to Enlarge Name: 6E 09-13 (5 Min) 7_17_2013.jpg Size: 88 KB
Trade smart. OR JUST DON'T TRADE!!!
  • #5,904
  • Jul 18, 2013 6:08am Jul 18, 2013 6:08am
Quoting detroitmoney
Hi bisecom I do not use volume or any indicators in my trading. S&D and PA. {image}
Hi DT!
its interesting but its difficult to find at your trades any of S&D and PA. But the main if its work for you, u should trade it.
  • #5,905
  • Jul 18, 2013 7:14am Jul 18, 2013 7:14am
Quote
Hi DT!
its interesting but its difficult to find at your trades any of S&D and PA. But the main if its work for you, u should trade it.

I didn't understand a word of this. Could you rephrase perhaps?
Trade smart. OR JUST DON'T TRADE!!!
  • #5,906
  • Jul 18, 2013 8:23am Jul 18, 2013 8:23am
Quoting detroitmoney
{quote} I didn't understand a word of this. Could you rephrase perhaps?
Ok.
Earlier you mentioned that dont use volume but use S&D and PA only. I checked your charts you sent after the message and as for me, its difficult to find at them any of techniques you mentioned (S&D and PA).

The most importent its works for you!
  • #5,907
  • Jul 18, 2013 8:53pm Jul 18, 2013 8:53pm
Thanks for checking.

I have almost tripled my account this month
Trade smart. OR JUST DON'T TRADE!!!
  • #5,908
  • Jul 18, 2013 9:50pm Jul 18, 2013 9:50pm
Quoting detroitmoney
Thanks for checking. I have almost tripled my account this month

Nice going. Live or Demo ?
  • #5,909
  • Jul 18, 2013 10:34pm Jul 18, 2013 10:34pm
I know what your thinking Lou. This trader is FOS. It's why I posted the blotter. I have doubled my sim account every month for the last 3 months and tripled it this month so far. Going live again with real money as soon as I cash out of VPIG. My dough is tied up in that one right now. I have some size in that one and am looking for a 5:1 on it. I'm in at 1.30

If I've said it once I've said it 100 million times. I don't care WHY they are doing it, I only care about WHEN they are doing it. SO I CAN DO IT WITH THEM!!!

I got wrecked today in NG BTW
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Trade smart. OR JUST DON'T TRADE!!!
  • #5,910
  • Jul 19, 2013 9:01am Jul 19, 2013 9:01am
Quoting detroitmoney
I know what your thinking Lou. {image}
Maybe. Real money vs demo money = no comparison.
  • #5,911
  • Jul 19, 2013 9:23am Jul 19, 2013 9:23am
Quote
Real money vs demo money = no comparison.

Totally Lou.

LOL cuz my mentor has been telling me that since we started together. He trades his live account in multiples of 18. I guess he likes that number for whatever reason.

Still I have to keep up my edge while my capital is working elsewhere. Granted the probability of how I am trading right now may not transfer to the live market however that RBD. I strive to only be in the market when the liquidity providers are providing and that is on open in what I trade. I try not to stay long to long.. Most days I am done before the market even opens.

Made back almost everything from yesterday today. I might be doing something right. I started this month with 10K in the account. I get paid to take risk so I take risk.

DO you trade live in real money Lou? If so, how long have you been trading real money and what is your equity curve since you began? What instruments do you trade live?
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Trade smart. OR JUST DON'T TRADE!!!
  • #5,912
  • Jul 19, 2013 11:30am Jul 19, 2013 11:30am
Quoting detroitmoney
{quote} Totally Lou. LOL cuz my mentor has been telling me that since we started together. He trades his live account in multiples of 18. I guess he likes that number for whatever reason. Still I have to keep up my edge while my capital is working elsewhere. Granted the probability of how I am trading right now may not transfer to the live market however that RBD. I strive to only be in the market when the liquidity providers are providing and that is on open in what I trade. I try not to stay long to long.. Most days I am done before the market...
Only traded demo at times where I was learning the mechanics of methods. Then I would jump in live with small positions. Always Forex. Unfortunately, for a long time I tried a lot of different methods and systems. So my curve is ranging. Finally settled on Price Action as the way to go. Using the higher TF s. Your thread, Strat's thread here on FFF (and especially his private membership) and Ken Lee (for much shorter TFs )are the best I have found on FFF for Price Action. Read The Market forum is also a great place to study price action.
  • #5,913
  • Jul 19, 2013 12:49pm Jul 19, 2013 12:49pm
Quote
Unfortunately, for a long time I tried a lot of different methods and systems.
. No worries there Lou. Every professional trader I know including myself have all been there. It's just part of it.

That said I had to UNLEARN 90% of all the things I had learned over my career and I am at this now 4 years. Once I had settled on what what I LIKED and what worked for ME. I became consistently profitable on a daily basis.

What I do is simplistic at best. I just look for where the unfilled orders are on the price chart when PA gets to where I need it to be I just push the button. Yes there is slippage however I liken it to paying the cover charge at the tittie bar. You wanna see titties? You pay the cover!! You wanna make money in the market when the liquidity providers are providing you pay the cover/slippage!! Hell I don't even draw in the lines anymore. I have just trained my eye to see it on the price chart and trust me it's there everyday.
Trade smart. OR JUST DON'T TRADE!!!
  • #5,914
  • Jul 23, 2013 4:44am Jul 23, 2013 4:44am
Well; They have finally called , and we are moving our boat back to our now new dock. But unfortunately they haven't ran cable or phone lines yet so will be very sporadic internet again for awhile.

There are many on here with great knowledge of this trading style and patience to help . so good luck and happy trading back soon .

Cheers Ken
Good Trading To All ; Ken Lee
  • #5,915
  • Jul 23, 2013 4:53am Jul 23, 2013 4:53am
Have a safe trip Ken
Trade smart. OR JUST DON'T TRADE!!!
  • #5,916
  • Edited 12:46pm Jul 23, 2013 12:23pm | Edited 12:46pm
Good flip opportunity?

Edit: Shifted the zone a little.
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  • #5,917
  • Jul 23, 2013 4:00pm Jul 23, 2013 4:00pm
Quoting Kanzler
Good flip opportunity? Edit: Shifted the zone a little. {image}

Chart
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Good Trading To All ; Ken Lee
  • #5,918
  • Jul 23, 2013 11:08pm Jul 23, 2013 11:08pm
Quoting Kenneth Lee
{quote} Chart {image}
I would like add to this if I may. Notice that KL is using various forms of price action observations adding to the SD Method.

1) Support and Resistance
2) Big round numbers
3) Fib's

This is confluence.

FIB's.. A tool that defines price action and it's movement. The structure of price movement, not a buy or sell signal. Using a FIB in conjunction with SD offers a different perspective.

Support Resistance vs Supply Demand. SR defines were price is turning. SD define why price turning. Again, confluence.. Adding the "were" to the "why".

Adding these elements together will, in many cases but not all cases, help you see the market and price movement.

Learning to see the basic pattern of Drop-Base-Rise or Rise-Base-Drop.. then adding the additional tools.. can add greatly in your ability to be profitable.

Excellent chart as always KL

TSD
  • #5,919
  • Jul 24, 2013 2:13am Jul 24, 2013 2:13am
Quoting TraderinSD
{quote} I would like add to this if I may. Notice that KL is using various forms of price action observations adding to the SD Method. 1) Support and Resistance 2) Big round numbers 3) Fib's This is confluence. FIB's.. A tool that defines price action and it's movement. The structure of price movement, not a buy or sell signal. Using a FIB in conjunction with SD offers a different perspective. Support Resistance vs Supply Demand. SR defines were price is turning. SD define why price turning. Again, confluence.. Adding the "were" to the "why"....
Hi all,

First thanks for sharing that. I am a newbie and i was looking for a more realistic professionnal view of what the forex is. You opened my eyes : this is supply / demand !

I must learn all that ideas. I feel the supply/demand zones can be described with some graph tree (nodes, arcs, forest), with probably connected forests between currency pairs.

Most common example : The price is falling, making a bounce at support one, the second "wave" is falling again (with lower high than previous one) at the support zone then the support zone is broken down and the price makes a wave in the opposite direction. The price is like "rolling around" the price level. This is the equilibrium point. And i feel the equilibrium point is the most important one. Sometimes the price doesn't make the bounce, but this is the same maths : damped sinus. Only the phase of the signal changed. Sometimes the phase doesn't change : converging triangle.

And i see now that the "waves" idea, the "support/resistance" idea, the "pivot" idea, the "converging triangle" ideas are all right ! These are only the visible artefacts of a higher level dimension / force. Maybe we have to think the market with another dimension.

I feel more and more this is only math. Not pattern recognition but at a higher level of abstraction, meta-pattern recognition. Not curve fitting but theorem fitting.

And i feel that the more we can learn from opponents, the more we can put things altogether.

Many thanks for that.
  • #5,920
  • Jul 24, 2013 2:47am Jul 24, 2013 2:47am
Quoting Kenneth Lee
{quote} Chart {image}
Only pulled about 40% of this move but still a good trade.
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