DislikedHI AdamO, first of all I think you manage to properly read the trend of the pairs, the "trick" of the millipede is to open many small positions rather than a one all-in trade, so that they are all important but not all "hopes" only rely on one and this let you close unprofitable positions with nonchalance and let profit run on good ones... but only because your trades are not random but wisely chosen. I need to look better into the signal that triggers your trades, I like your strategyIgnored
I would pinpoint one important fact and demonstrate why this method works that easily for me and most likely for many other folks here. Let me use the example of my last NZDCAD trade.
The move that I caught was about 120 pip big. Which you can consider a small movement in the market that happens quite often. The trick is that I caught it with 5 trades but risked only with one. So basically I have risked 30 pips for catching around 500 pips. I could not achieve that by taking one big trade because I would still risk 30 pips but would go for 120 only.
This method is very forgiving. You can make many mistakes, open many bad trades with quite wide SL and still profit quite easily. That's the beauty of the system. I do not think that my trigger signal is interesting at all. It is important that when I am wrong, I am wrong with one position. When I am right, I am right with 2-10 positions.
I actually can not imagine how someone could be a losing trader this way. If I would be taking RRR 1:1, 1:2 or even 1:3, I would not be a profitable trader. So actually I can be pretty bad at opening the trade and choosing the direction of the trade because when I am wrong I lose R. But when I am right I might win 20R easily.
I know that entry trigger is important for you at the beginning and it is definitely an important part of the trading but believe me that my entry signal might be much worse than yours and I could make more money, or vice versa.
I remember when I was reading building equity millipede that I was craving for entry signals too. I can definitely help you with that, but do not expect something super complex and successful. I just enter in the direction of the trend.
Do you want me to describe entry signals in more detail?
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