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  • Post# 5,461
  • Quote
  • Dec 2, 2012 9:48pm
  • zusch
    Joined Feb 2011 | 392 Posts | Status: Trade the hot hand.
Simply clicking CTRL + repeatedly will zoom in as well.

VEE -- how about EURAUD? Ugly looking close...
Twitter: @zusch_fx -- Preselecting trending pairs on a weekly basis.
  • Post# 5,462
  • Quote
  • Dec 2, 2012 10:29pm
  • scalpz
    Joined Oct 2008 | 426 Posts | Status: Target 1: SL in the green
Quoting zusch
Simply clicking CTRL + repeatedly will zoom in as well...
Oh you spoiler
Cheers scalpz
Target 2 : Stoploss in the green
  • Post# 5,463
  • Quote
  • Dec 2, 2012 11:49pm
  • fxpig
    Joined Jul 2006 | 33 Posts | Status: Member
Quoting VEEFX
It is amazing how one chooses to complicate their lives and the other doesn't want to spend a few minutes thinking out of the box

Step1: Go here... http://www.forexfactory.com/showthre...85#post5105285. Folks just like to ask questions rather that using the paperclick feature to pull up all attachments on the thread!
Step2: Download and open the zip file. I put all the posts made just by Graeme in the zip file to help new readers.
Step3: Open the html in IE browser by doubleclicking on the html file
Step4: Do...

Many thanks to both Scalpz and Vee,

With forex one would never fail to find the answer from great effort putting up by those kind heart individuals. Such as you both, Graeme and many others on FF Forums, thank to FF as well which provides such great service.

BTW which time frame did you find, would give you least fault trade on IB and Long pin bar with consideration of PA?

pigfx
  • Post# 5,464
  • Quote
  • Dec 5, 2012 1:25pm | Edited at 5:11pm
  • timos
    Joined Sep 2012 | 46 Posts | Status: Member
3 positions on euro usd.All be. 1H FB
Pips lost to build these positions 50. 16 pips per position average.

Update All positions died at be :/
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  • Post# 5,465
  • Quote
  • Dec 5, 2012 8:30pm | Edited Dec 6, 2012 2:53am
  • VEEFX
    Joined Jun 2006 | 664 Posts | Status: Member
Quoting timos
3 positions on euro usd.All be. 1H FB
Pips lost to build these positions 50. 16 pips per position average.

Update All positions died at be :/


Candid feedback:

- you are not following the stringent H4>H1>M15 TF rules that Joe implements in order to replicate his success.
- stall on M5 should indicate profit taking on half positions per Joe (looks like you were watching M5 per your screenshot)
- don't expect 100+ legs to grow when trading FB on H1. Hint: reset your expectation based on the scale of your chosen TF.
- Look at PA on H4, it would be nuts to expect any long positions to survive based on H1/FB. Hint: engulf with 5/10 ema cross
- pinbar and several FBs on H4. Hint: downward direction
- ask yourself why is there a pinbar on H4? Hint: draw a fib retracement on Weekly TF as you will see a 38.2% FIB bounce @ 1.3135.
- Hindsight? Draw downward trendline on Monthly TF and it clearly broke that TL by a mere 80+ pips. For TLs on MN, I like to wait for WK candle to close above/below the broken TL for long term confirmation of change in trend (just my rule!)

hope this helps.

EDIT: here's my long term play... hoping to break out of the nagging daily/weekly range away from 200ema and penant triangle on weekly TF... 3 shorts averaging 46 pips and 2 took off @ BE.
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Best Regards, - Vee (I delete most of my posts within 24 hours)
  • Post# 5,466
  • Quote
  • Dec 6, 2012 3:38am
  • timos
    Joined Sep 2012 | 46 Posts | Status: Member
Quoting VEEFX
Candid feedback:

- you are not following the stringent H4>H1>M15 TF rules that Joe implements in order to replicate his success.
- stall on M5 should indicate profit taking on half positions per Joe (looks like you were watching M5 per your screenshot)
- don't expect 100+ legs to grow when trading FB on H1. Hint: reset your expectation based on the scale of your chosen TF.
- Look at PA on H4, it would be nuts to expect any long positions to survive based on H1/FB. Hint: engulf with 5/10 ema cross
- pinbar and several FBs on H4. Hint: downward...
Thanks for your input VEE.
Still learning,with real money though.
  • Post# 5,467
  • Quote
  • Dec 9, 2012 6:57am
  • futurespec
    Joined May 2011 | 724 Posts | Status: If you think I'm mad, I must be mad
Hello all,
At the risk of being shot down in flames....
Apologies if the question has been asked/answered previously.

Is Graeme still around at all?
I have only just started reading this thread (< p20)and it will obviously be a mammoth task :-(
Love the concept as I am sure you all do.

One thing that I have not yet managed to understand is the diversification..
Assuming we take 1 lot/trade and we build up say a total 10 short positions and are in a downtrend in whatever pair.
We now get a retrace .. and start to add lots long ... are those lots always 1 lot??
When we add 1 lot long do we always close one of the short lots or is that discretionary or what do we do??

Is it possible to point me in the direction of the most relevant posts in this very long thread?

Thanks,

M.
  • Post# 5,468
  • Quote
  • Dec 9, 2012 12:31pm
  • zusch
    Joined Feb 2011 | 392 Posts | Status: Trade the hot hand.
Quoting futurespec
Hello all,
At the risk of being shot down in flames....
Apologies if the question has been asked/answered previously.

Is Graeme still around at all?
I have only just started reading this thread (< p20)and it will obviously be a mammoth task :-(
Love the concept as I am sure you all do.

One thing that I have not yet managed to understand is the diversification..
Assuming we take 1 lot/trade and we build up say a total 10 short positions and are in a downtrend in whatever pair.
We now get a retrace .. and start to add lots long ... are...
All of them are relevant and everything Graeme says is for a reason. Hope this helps!
Twitter: @zusch_fx -- Preselecting trending pairs on a weekly basis.
  • Post# 5,469
  • Quote
  • Dec 9, 2012 7:16pm
  • atharmian
    Joined Sep 2012 | 68 Posts | Status: Member
futurespec,

As a reader of the Jacquemate thread where you have been nice enough to post an EA and take subsequent abuse, I guess you are looking for that Flying Buddha method and Volatility breakouts

See attached. The pdf has the relevant link at the start...

Good luck,'
Athar.


Quoting futurespec
Hello all,
At the risk of being shot down in flames....
Apologies if the question has been asked/answered previously.

Is Graeme still around at all?
I have only just started reading this thread (< p20)and it will obviously be a mammoth task :-(
Love the concept as I am sure you all do.

One thing that I have not yet managed to understand is the diversification..
Assuming we take 1 lot/trade and we build up say a total 10 short positions and are in a downtrend in whatever pair.
We now get a retrace .. and start to add lots long ... are...
Attached Files
File Type: pdf Flying Buddha trading system-1.pdf   183 KB | 592 downloads
File Type: zip Graeme Posts Only.zip   657 KB | 356 downloads
File Type: mq4 smFlyingBuddha Signals_v2.mq4   7 KB | 227 downloads
File Type: mq4 smMilliped VolaBreakoutLines_v1.mq4   5 KB | 203 downloads
  • Post# 5,470
  • Quote
  • Dec 10, 2012 4:52am
  • futurespec
    Joined May 2011 | 724 Posts | Status: If you think I'm mad, I must be mad
Hi Athar (and zusch)
thanks for replies.

Athar ... no was not looking for the Buddha but thanks for the links (still loads of reading to catch up on).

What I wanted...
Quote
One thing that I have not yet managed to understand is the diversification..
Assuming we take 1 lot/trade and we build up say a total 10 short positions and are in a downtrend in whatever pair.
We now get a retrace .. and start to add lots long ... are those lots always 1 lot??
When we add 1 lot long do we always close one of the short lots or is that discretionary or what do we do??
Thanks,
M.
  • Post# 5,471
  • Quote
  • Dec 10, 2012 1:25pm
  • Paradox
    Joined Sep 2010 | 215 Posts | Status: Member
Quoting futurespec
Hi Athar (and zusch)
thanks for replies.

Athar ... no was not looking for the Buddha but thanks for the links (still loads of reading to catch up on).

What I wanted...


Thanks,
M.
Graeme is not around. Perhaps you could say the thread is controversial and strange of late so you could try reading backwards a few pages.

diversification has nothing to do with opening opposite positions or with what the word normally means in the rest of the trading world.

If you understand that you never in the short term close a position you just set it to BE and forget about it. You then move on to more trading completely un influenced by your current position.

So now all these open positions mean you are a long term position trader. "Diversification" is the activity of looking at the long term picture and using your discretion to close open exposure. This is done on a periodic ie weekly and longer basis.
  • Post# 5,472
  • Quote
  • Dec 10, 2012 2:11pm
  • futurespec
    Joined May 2011 | 724 Posts | Status: If you think I'm mad, I must be mad
Paradox,
Thanks for response.
It is sad to hear that the thread has gone what appears to be the inevitable way of all threads eventually. The contribution from Graeme both in time and wisdom should not be under-estimated.

Just a shame that I did not happen on the thread earlier.

Thanks for your explanation of 'diversification' ... it has helped a little.... but I fear that I have a long way to travel.

M.
  • Post# 5,473
  • Quote
  • Dec 10, 2012 9:36pm
  • atharmian
    Joined Sep 2012 | 68 Posts | Status: Member
Paradox and futurespec,

Great insight below, and a confirmation of what I have been doing successfully as a newbie with more than a dozen trades in the last few weeks (except the sell AUDUSD one that doesn't seem helpful still.)

The whole idea of setting losing trades to BE (i.e., TP= BE) seemed counter intuitive to me first, but works well in practice.

Also the fact that hedging trades is not merely canceling them out, or just capping your losses. In a similar vein, with markets retracing all the time, you can statistically come out a winner on both sides. Too bad US accounts were not allowed to hedge, but recently some US brokers have exploited regulatory loopholes to allow hedging by taking the opposite side themselves ("locally" as opposed to going into the market.)

A paradox- theory v. practice So I must have missed Greame's wisdom a lot too.

Athar.

Quoting Paradox
Graeme is not around. Perhaps you could say the thread is controversial and strange of late so you could try reading backwards a few pages.

diversification has nothing to do with opening opposite positions or with what the word normally means in the rest of the trading world.

If you understand that you never in the short term close a position you just set it to BE and forget about it. You then move on to more trading completely un influenced by your current position.

So now all these open positions mean you are a long term position trader....
  • Post# 5,474
  • Quote
  • Dec 11, 2012 1:17am
  • VEEFX
    Joined Jun 2006 | 664 Posts | Status: Member
Quoting atharmian
futurespec,

As a reader of the Jacquemate thread where you have been nice enough to post an EA and take subsequent abuse, I guess you are looking for that Flying Buddha method and Volatility breakouts

See attached. The pdf has the relevant link at the start...

Good luck,'
Athar.
pure price action interpretation with no fancy indicators. She took a couple of probes out at BE before I could get this leg to survive for the next 200 pips. Down at 70 pips at the moment after taking out 3 legs @ BE on Friday

Quoting Graeme.... FB are the "Apex of change" as clearly evident on the weekly chart... much higher success rates when price levels are at extremes, S/R or 00 lines.

EDIT: I forgot to mention the reason which prompted me to respond to your post. In 'my' experience with FBs, one has to WATCH price action in real time while FB is being formed and the candle after FB to make an informed judgement whether it is going to be a false positive. Indicators like these in my opinion will just cause a lot of frustration as noobs will simply follow the mechanical 'rules' outlined in the pdf and cause drawdowns. Trading FBs "in the moment" can be very powerful and that happens only by watching the charts in real time (similar to watching volatile breakouts atleast 50-100 times to get better at gauging the strength of each breakout). Just reiterating what Graeme has mentioned a dozen times in this thread :-
Attached Image (click to enlarge)
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Best Regards, - Vee (I delete most of my posts within 24 hours)
  • Post# 5,475
  • Quote
  • Dec 11, 2012 8:10am
  • atharmian
    Joined Sep 2012 | 68 Posts | Status: Member
VEEFX,

Thanks for your EDIT note.

So shouldn't we then change the FB entry rules to include the next candle formation,
e.g., bias short entry on whether the next candle is down when FB is sitting above
5ma and 5 ma is over 10ma ?

Greame actually only mentioned the BUY in passing... so does BUY entry stem from FB
hanging below a 5ma, with 10 ma over 5ma? Never got that clarified.

Greame I remember mentions in the pdf in passing toward the end ("forgot an important point")
that for FB to sit atop 5ma, we also require the 5ma to be atop 10ma.

Spyderman in his FB thread says that one good test (for BUY or SELL?) is if the 5ma crosses
over 10ma after a FB is observed sitting atop the 5ma. But then if the 5ma is already on top
of the 10ma, all it can do is cross down the 10ma next...

IMHO, the FB Guide needs updating, whether or not you want FB price action in real time !

Regards,
Athar.

Quoting VEEFX
pure price action interpretation with no fancy indicators. She took a couple of probes out at BE before I could get this leg to survive for the next 200 pips. Down at 70 pips at the moment after taking out 3 legs @ BE on Friday

Quoting Graeme.... FB are the "Apex of change" as clearly evident on the weekly chart... much higher success rates when price levels are at extremes, S/R or 00 lines.

EDIT: I forgot to mention the reason which prompted me to respond to your post. In 'my' experience with FBs, one has to WATCH...
  • Post# 5,476
  • Quote
  • Dec 18, 2012 2:05am
  • VEEFX
    Joined Jun 2006 | 664 Posts | Status: Member
Quoting atharmian
VEEFX,

Thanks for your EDIT note.

So shouldn't we then change the FB entry rules to include the next candle formation,
e.g., bias short entry on whether the next candle is down when FB is sitting above
5ma and 5 ma is over 10ma ?

Greame actually only mentioned the BUY in passing... so does BUY entry stem from FB
hanging below a 5ma, with 10 ma over 5ma? Never got that clarified.

Greame I remember mentions in the pdf in passing toward the end ("forgot an important point")
that for FB to sit atop 5ma, we also require the 5ma to...
From Schwager's Market Wizards book... "As long as you stick to your own style, you get the good and bad in your own approach. When you
try to incorporate someone else's style, you often wind up with the worst of both styles.
".
Best Regards, - Vee (I delete most of my posts within 24 hours)
  • Post# 5,477
  • Quote
  • Dec 21, 2012 2:52pm
  • kimis
    Joined Mar 2011 | 426 Posts | Status: Member
Hi all

all my 2 years experience at fx I was thinking about something oposite to martingale - making piramyd of profitable orders. this thread finalysed all my thoughts at last. it is pitty that author is not writing here any more. but maybe other more experienced can answer some my questions.

pipeasy was mentioning that he had few positions lasting from 2008 and so on. I think it would be worhtless to keep em for ever, as price sooner or later will come back to BE and will hit it. so there should be day X to close all one direction orders, and start building piramyd to another direction. what is ther best practice for you to get U-turn signal?

second question is regarding partial close of profit. It was written that as soon as an candle closes higher/lower than last main direction candle, it is good practice to close half of profit. how it is best to do that? close 1/2 of all open order, or lets say fully close last 1/2 of open orders, keeping oldest (and most profitable) alive.

regards.

kimis
  • Post# 5,478
  • Quote
  • Dec 21, 2012 4:04pm
  • Olu ● Online
    Joined Jun 2009 | 3,233 Posts | Status: Trend Trader
Quoting kimis
Hi all

all my 2 years experience at fx I was thinking about something oposite to martingale - making piramyd of profitable orders. this thread finalysed all my thoughts at last. it is pitty that author is not writing here any more. but maybe other more experienced can answer some my questions.

pipeasy was mentioning that he had few positions lasting from 2008 and so on. I think it would be worhtless to keep em for ever, as price sooner or later will come back to BE and will hit it. so there should be day X to close all one direction orders, and...
Hi K

I am in no way a guru concerning this system. However I also aim to 'millipede' a position into a position trade milking any trend for all its worth. I agree with you that a trade cannot be held forever but it can be held for a long time if the trend is moving in the right direction.

I am a fan of the FB strategy and the manner the author added to positions. It is quite aggressive but it the trend is string there is no easier way to rack up pips.

I also believe in taking partial profits. With me when the premise of my entering trades is threatened I protect profits. For example the FB if the high of the tending candles is taken out to the upside and I am short immediately half of all the positions come off and the stops are tightened on all the rest. If those stops are taken out it is back to square 1. If not then the adding continues...Practically this means the older ones in profit are closed as they are getting mature. I will not hesitate to kill the millipede at any time and try and grow another one though.
  • Post# 5,479
  • Quote
  • Dec 25, 2012 11:50am
  • Mjolnir17
    Joined May 2011 | 58 Posts | Status: Member
I try to write an excel sheet, where i can input my trades, therefore can calculate net profit, largest win, largest loss, win percentage etc.
however i messed up with such statistics like average gain and loss, expectancy, largest number of consecutive wins/losses etc.

Someone can help with these excel things, or perhaps fancy sharing their own statistic-maker excel file?

Happy X-mas for all, zol.
  • Post# 5,480
  • Quote
  • Dec 25, 2012 9:50pm
  • oathbreaker
    Joined Jan 2012 | 257 Posts | Status: Member
Hi all

I will like to sincerely thank "pipeasy" for his contribution in this thread.Without him my attitude towards trading will be entirely different.I want to be really humble and stay focused in my pursuit for riches.
I have been reading this thread for last one year and was demo-trading.I blew one of my small accounts.Then i kept on practicing and practicing.

I don't like to open one more thread for my approach but i want to share my experience with this system on this thread.I know it will clutter this thread but i don't find any other like minded group sharing there systems.

The three ingredients of any long term trading are
1)Participation
2)Low-risk entries
3)Growth

Participation: "If market says up then buy and if market says down then sell"."Trend is your friend".My suggestion is be in the market all the time either with one leg or multiple legs. Practice your entries.

Low-risk entries: Keep your risk at a limit and let your profit run.if you loose u will risk few pips.But if you win your equity growth will be exponential.Most 1:1 risk:reward systems doesn't work in long run.

Growth:Let your profits run to great extend and limit your risk.Grow as many legs you can and if you think trend is changing then diversify.

Here i will start with my charts with genuine interest to help others and also help myself.
I am a hunter...i kill both bulls and bears...:)
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