Forex Factory (https://www.forexfactory.com/forum.php)
-   Trading Journals (https://www.forexfactory.com/forumdisplay.php?f=49)
-   -   Build an Equity Millipede with the filtered Flying Buddha (https://www.forexfactory.com/showthread.php?t=339192)

BatmanXXL Feb 21, 2012 1:14pm | Post# 41

Hello Spyderman

Why is stop at 79.44 for U/J. Is that stop from H4 or D1 hindsight? On D1 on my chart is going through wick of yesterday..

spyderman Feb 21, 2012 1:29pm | Post# 42

Hello Spyderman

Why is stop at 79.44 for U/J. Is that stop from H4 or D1 hindsight? On D1 on my chart is going through wick of yesterday..
It was just below the low of the previous H4 at the time of entry. Of course H4's will vary from broker to broker so your's may show different. You'll have to adjust your entries accordingly, but over all it should balance out.

BatmanXXL Feb 21, 2012 2:17pm | Post# 43

I forget to ask Spyder one more thing. On your U/J picture attachment, few posts back I saw on Daily chart that there was almost 3 red candles which according to our strategy you should to diversify 3 times(by halfing opened positions). Do you ignore that rule sometimes or you did as that?
However, nice stacking...and all best to you...

spyderman Feb 21, 2012 2:27pm | Post# 44

1 Attachment(s)
I forget to ask Spyder one more thing. On your U/J picture attachment, few posts back I saw on Daily chart that there was almost 3 red candles which according to our strategy you should to diversify 3 times(by halfing opened positions). Do you ignore that rule sometimes or you did as that?
However, nice stacking...and all best to you...

Batman,

Those charts are on the H4. All our reads for starting a series and exiting will come off the Daily. Here's the daily for the past few weeks. No daily bars closing below a previous day's open so we haven't closed any yet.
Click to Enlarge

Name: uj initial.jpg
Size: 172 KB

spyderman Feb 21, 2012 11:08pm | Post# 45

1 Attachment(s)
Stop on U/J moved to BE + 3 pips at 79.70
Click to Enlarge

Name: uj initial.jpg
Size: 147 KB

spyderman Feb 22, 2012 7:26am | Post# 46

New entry
 
1 Attachment(s)
We have a new entry this morning (for me ) on the U/J. On the H4 I've entered at about 50% fib (80.26) with a stop below the previous H4 low at 79.98. I went a few pips lower with my stop on this one to get under the 80.00. That should provide some additional support.

You'll notice too in the chart that had we been awake we would have had a nice 50% entry on the previous bar that would be in profit now.
Click to Enlarge

Name: uj initial.jpg
Size: 148 KB

spyderman Feb 23, 2012 10:11am | Post# 47

We have a new entry this morning (for me ) on the U/J. On the H4 I've entered at about 50% fib (80.26) with a stop below the previous H4 low at 79.98. I went a few pips lower with my stop on this one to get under the 80.00. That should provide some additional support.

You'll notice too in the chart that had we been awake we would have had a nice 50% entry on the previous bar that would be in profit now.
Our entry from yesterday has retraced to the Daily 50% fib and now is moving back up. It didn't hit our H4 stop, so that's good. Let's hope it continues to climb now that it tested and bounced off that fib.

spyderman Feb 23, 2012 4:21pm | Post# 48

Stopped out
 
We just had our stop hit on the U/J. We'll have to wait for another entry.

BatmanXXL Feb 23, 2012 4:21pm | Post# 49

Hello Spider...From when did you start wit this strategy? From February?

Can you please once more quickly repeat strategy...Is it correct like this??

1. We look for FB on D1 (for first entry)
2. Then we confirm it with 5/10 ema cross (at the day end)
3. Then we enter immediately at open of new daily candle (after cross 5/10)
4. SL is under previous daily candle wick (for buy), and we move to BE after it goes our way for about 25pips
5. Than...we starting with stacking at H4 by using Joe Buddas(only H4 or we still use D1?). Stacking is only performed by Buy Limit pending orders at 50% of previous candle, with SL a bit under wick of previous bar (for buys)
6. Again we move SL to BE after about 25pips.
7. Exit of half positions is when we get first opposite candle on D1 which is closed under open of previous candle. (We close half positions, and if is next day again against us we close another half, and so on)
8. If trend continues we continue to stack by 50%Fib only on H4

I am sure I forget something or something is wrong .. Please correct me...

You have really nice trades...I see your millipede started to stretching its legs .

spyderman Feb 23, 2012 5:09pm | Post# 50

Hello Spider...From when did you start wit this strategy? From February?

Can you please once more quickly repeat strategy...Is it correct like this??

1. We look for FB on D1 (for first entry)
2. Then we confirm it with 5/10 ema cross (at the day end)
3. Then we enter immediately at open of new daily candle (after cross 5/10)
4. SL is under previous daily candle wick (for buy), and we move to BE after it goes our way for about 25pips
5. Than...we starting with stacking at H4 by using Joe Buddas(only H4 or we still use D1?). Stacking is only performed...
Batman,

You've get the gist of it...just a couple of adjustments.

2. Then we confirm it with 5/10 ema cross (at the day end)
3. Then we enter immediately at open of new daily candle (after cross 5/10)
Typically the cross shows at the start of a daily candle. There are times when price action brings a cross mid day. Depending on how it looks I will enter at that point with the stop based on the previous bar.

5. Than...we starting with stacking at H4 by using Joe Buddas(only H4 or we still use D1?). Stacking is only performed by Buy Limit pending orders at 50% of previous candle, with SL a bit under wick of previous bar (for buys).
I also use the D1 for stacking. I would use a buy limit if price is above the 50%. If price is below the 50 but close then I would enter at market for a bargain price. If price is so low that it would be too close to the stop loss then I would place a buy stop at the 50.

Review the PDF in post 1 as I follow that pretty close. You'll always need to tweak any strategy to meet your own needs and trading style/schedule.


spyderman Feb 23, 2012 6:10pm | Post# 51

New stop order
 
I'm placing a new stop order at the beginning of the daily at the 50% fib. As price is below, I'm using a stop which will help signify price is continuing upward. Buy stop is at 80.08 with a s/l at 79.78

spyderman Feb 23, 2012 10:30pm | Post# 52

I'm placing a new stop order at the beginning of the daily at the 50% fib. As price is below, I'm using a stop which will help signify price is continuing upward. Buy stop is at 80.08 with a s/l at 79.78
Buy stop has been hit and we're back in the trade.

spyderman Feb 23, 2012 11:13pm | Post# 53

2 Attachment(s)
Just for a little fun, I've zoomed out to the monthly on the U/J.
Could this be the reversal of a 4 year downtrend. Let's hope so.

But whichever...we'll follow the market.
Click to Enlarge

Name: uj initial.gif
Size: 28 KB
Click to Enlarge

Name: uj monthly.gif
Size: 32 KB

spyderman Feb 23, 2012 11:18pm | Post# 54

Gotta hit the sack...I've moved the stop on U/J to BE +2.

spyderman Feb 24, 2012 7:26am | Post# 55

New entry
 
1 Attachment(s)
Good morning all. I've placed a new entry this morning on the U/J. I caught it just a little late as it actually hit the 50 fib while I was asleep, but I think it's a good entry. I entered at 80.545 with my stop at 80.31.
Click to Enlarge

Name: uj initial.gif
Size: 20 KB

rgrace Feb 24, 2012 7:38am | Post# 56

Good to see some are still trading the millipede, I have recently started, this week actually. Looking at my positions they have been very similar to your entries, I currently have 2 long USD/JPY positions. Been adding slowly only a couple attempts a day. Also have started the 3x20 exercise as outlined in Graeme's thread, looking forward to the "related discoveries". Now back to your thread to read, as I have no clue how you are entering just find it odd that my two survivors are almost exactly the same as yours heh.

EDIT: Interesting, I see how you are entering now, my entry method is different. I do not take FB's into account at all, or MA's for that matter. Still is interesting that my entries and yours are almost exactly the same. Have you ever ran the numbers to see what the result would be if you instead held the positions, like for instance, the first daily candle closes below previous daily candle. Sell the last couple positions, enough to recover any drawdown and add a small realized profit, hold the rest?

spyderman Feb 24, 2012 8:12am | Post# 57

Welcome rgrace. You should find the PDF in post 1 a good read, if you haven't already.

rgrace Feb 24, 2012 8:16am | Post# 58

Welcome rgrace. You should find the PDF in post 1 a good read, if you haven't already.

I went back and read the thread, will read the pdf as well when I get a chance. This is a very interesting method, and would work with anything not just a flying buddha. Hammer on daily, engulfing bar, bounce off of support, the key it appears is not so much in the initial setup but the stacking at every .50 fib on 4h and daily.

EDIT: Nice PDF, interesting way to trade.

spyderman Feb 24, 2012 8:34am | Post# 59

I went back and read the thread, will read the pdf as well when I get a chance. This is a very interesting method, and would work with anything not just a flying buddha. Hammer on daily, engulfing bar, bounce off of support, the key it appears is not so much in the initial setup but the stacking at every .50 fib on 4h and daily.

Absolutely. And Graeme mentions that in the PDF. The FB is just another indicator as to what might happen next. Like you say, no matter how we get on the horse, we just want to ride it all the way.

One good run (like the U/J right now hopefully ) will take care of all the false entries and then some.

maaj Feb 24, 2012 9:28am | Post# 60

Absolutely. And Graeme mentions that in the PDF. The FB is just another indicator as to what might happen next. Like you say, no matter how we get on the horse, we just want to ride it all the way.

One good run (like the U/J right now hopefully ) will take care of all the false entries and then some.

Good job guys.

For this week, my GB is doing well for me. Started with 4hr FB, then added one more stack. I may close one the positions, if 1h or 4hr UP candle closes below the open price of previous Down candle.


© Forex Factory