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Building an equity millipede

  • #7,241
  • Apr 10, 2017 1:12pm Apr 10, 2017 1:12pm
Is anyone trading the millipede in Darwinex? I would be interested to follow a Darwin based on this great trading approach.
  • #7,242
  • May 20, 2017 12:28am May 20, 2017 12:28am
Everyday i love more and more this thread...
  • #7,243
  • May 24, 2017 8:08pm May 24, 2017 8:08pm
Hello Fellow Members,
I've just started reading this thread and have made it up to page 7 where Graeme started to post screenshots of his method. These image links no longer work. Has anyone got access to these? I'm interested to know how many following this thread have implemented this long term strategy.
Thanks in Advance...Back to reading the 363 pages.
  • #7,244
  • May 25, 2017 12:22am May 25, 2017 12:22am
Quoting 5GCapital
Hello Fellow Members, I've just started reading this thread and have made it up to page 7 where Graeme started to post screenshots of his method. These image links no longer work. Has anyone got access to these? I'm interested to know how many following this thread have implemented this long term strategy. Thanks in Advance...Back to reading the 363 pages.
Hi, see the attached files in the post.
there you will have .PDF files with all the available content.
  • #7,245
  • Jul 3, 2017 8:20pm Jul 3, 2017 8:20pm
Hi. Have read all of pipeasy's posts. Really helpful for a beginner like me. I can't help but wonder what has happened to Graeme. Does anyone know why did he abruptly disappear? Hope he is fine.
  • #7,246
  • Jul 4, 2017 9:37am Jul 4, 2017 9:37am
As others have said, this method works great on paper, not so well in practise.

No method works forever on a pair, this method is particularly dangerous at times too.

Just my opinion
  • #7,247
  • Jul 4, 2017 10:17am Jul 4, 2017 10:17am
Quoting MCRotter
As others have said, this method works great on paper, not so well in practise. No method works forever on a pair, this method is particularly dangerous at times too. Just my opinion
hello MC
I do agree with you.It is dangerous and I got burn well once but not because of the method.


If you read it well,the core of this method is to master low risk entries.I was noob then doing that.

Now that I've got good at getting entries this is a gold mine.

I wouldn't call it method but rather a good psychological way to approach the markets.
  • #7,248
  • Jul 5, 2017 12:25am Jul 5, 2017 12:25am
Quoting VEEFX
{quote} "low risk entries" = Razor Sharp Entries + Move to BE > Hold them for x20+ Reward. The irony of this "method" is... once you have practiced razor risk entries, you really don't need to hold them long(er) with added risk of exposing your equity curve to market fluctuations. But how many out there can really develop such a skill? It takes years of practice ! On the flip side, ignoring the emphasis on razor sharp entries and focusing on exits could also work in trending markets :-)
Hello my old Friend.

This is so true. I've come to a point to make decent entries and indeed I don't need to hold them for weeks.
Most of the time I hold them for days.

Razor sharp entries=As low as 1.5pips sl but as you said it took me years,since 2012 actually to get at this point.

Another thing I do instead of moving sl to be is to close 50% of the amount at TP1 which is usually at least 1:2 R:R and leave the rest run or die at be.This has saved me a lot of times getting out of good moves.
  • #7,249
  • Jul 5, 2017 5:22am Jul 5, 2017 5:22am
Quoting VEEFX
{quote} Yep. Glad we still have some millipede veterans among us lol. Hope you are doing well bro. The absolute power of moving SL to BE (for those who still don't realize this!) is not just minimizing risk... it empowers us to "follow the price whereever the trend takes us" and freezing profits via nedging until long tern weekly/monthly trends move out of consolidation/range. Unfortunately, I cannot use this awesome power of freezing with mini-diversification being in USA (with relative ease as balancing the books via spreadsheets gets tiring after...
I know.
I use Sierra Charts now as platform and I can't hedge either but I use 2 accnts which can be connected to 1 single SC platform.
1 for long and 1 for shorts.
Try it on demo,you might like it and find a solution.
  • #7,250
  • Edited 9:43am Jul 5, 2017 9:26am | Edited 9:43am
Quoting VEEFX
{quote} Yep. Glad we still have some millipede veterans among us lol. Hope you are doing well bro. The absolute power of moving SL to BE (for those who still don't realize this!) is not just minimizing risk... it empowers us to "follow the price whereever the trend takes us" and freezing profits via nedging until long tern weekly/monthly trends move out of consolidation/range. Unfortunately, I cannot use this awesome power of freezing with mini-diversification being in USA (with relative ease as balancing the books via spreadsheets gets tiring after...
Hi Vee. Its amazing you are still here. May I ask, did the "method" bring good results? I remember reading the exercise you did with Graeme, it seems you have come a long way.

What are some good ways to practice razor sharp entries? Did the 3x20 practice work?

Also, do you focus on a few amount of pairs at first?
  • #7,251
  • Jul 5, 2017 10:20am Jul 5, 2017 10:20am
Also (and I went thru this emotion reading success of others on this thread), try and understand your comfort level with letting the legs run and for how long. if you are loosing sleep for profitable legs then trading is just not worth it (to me!). For me, anything over 500 pips and I start looking for ringing the register but again, let your own stat drive such decisions. after 500, there is a typical 200+ retrace :-)

Don't let anyone be the judge of your own performance. It is perfectly OKAY to not have 1000+ legs.
Staying in my lane...
  • #7,252
  • Jul 5, 2017 10:24am Jul 5, 2017 10:24am
Quoting VEEFX
Also (and I went thru this emotion reading success of others on this thread), try and understand your comfort level with letting the legs run and for how long. if you are loosing sleep for profitable legs then trading is just not worth it (to me!). For me, anything over 500 pips and I start looking for ringing the register but again, let your own stat drive such decisions. after 500, there is a typical 200+ retrace :-) Don't let anyone be the judge of your own performance. It is perfectly OKAY to not have 1000+ legs.
Thanks a lot, Vee. I guess this is the start of my journey. Will keep practicing on my demo account and try to find the things that work for me, while using the information in this thread as a sort of map or guide.

Once again, thanks for your reply. Wish you the best of luck.

Marcos
  • #7,253
  • Jul 5, 2017 11:17am Jul 5, 2017 11:17am
Hi,

I personally enjoyed the success of this method. I rode through the huge trend during Euro commencement of QE as well as Greek exit crisis; vs the consistently strong NFP data by US, which prompted the Fed to talk about rate hiking. I remember I get onboard the train around EURUSD 1.27 and rode to 1.05. I actually built a lot of legs aggresively (a method introduced by Fezmar called tsunami method, try look for his profile). From there my account growth almost 20 fold. I owe this to Graeme but am not able to reach him anymore.

However, as Graeme said, this method will cause a lot of long profiting run to breakeven, some from 300- 400 pips. I was lucky as my leg building did not retrace much. Managing expectation is very important, it really takes a lot of patient to get this to work. Graeme did not specify the entry method, (though he mentioned some like flying buddha, but is only due to too many questions on entry); he believed that the method is more than perfect entry but more towards letting winners run.

For my own trading, I treated leg building like a project which I allocate 10-20% of total risk to my account. It will most likely cost some in losing trade/ swap during the beginning stage. Meantime I will still continue my other short term trading.
  • #7,254
  • Jul 5, 2017 4:42pm Jul 5, 2017 4:42pm
Quoting VEEFX
{quote}
I have been around and posting here and elsewhere and deleting my posts in 24 hours to avoid chit chatting due to limited time to spare on forums. My journey has been quite interesting actually. Don't get hung up on the 3 or 20 aspect of the exercise. The key for this exercise is to ingrain in your mindset and thought process to ALWAYS think about risk first before profit as it is of enormous importance to continuously participate in the market and to understand what SPACE you should give yourself in-between probes. Without that core understanding, you would be jumping here and there and get super frustrated to see a drain in your account with frequent SLs. This process will also inadvertently reveal to you (as an outcome) how to avoid manipulation/stop hunt zones, how to quickly understand when a pair is in range or breaking out etc.
In order for 20 pip SL to avoid taken out, we need momentum to force our entries into profitability. For my life style, I could not trade anytime I want so I ended up trading news and events on a "scheduled" bases and got very good in aggressively stacking. some last for few hours and then get out completely leaving one or 2 to grow.... or some stacking episodes lasted for days. These are the moments when the account grows into profitability (while stragglers sit there going up and down and nowhere for days and weeks).
All this took too much of my time and effort so now I have fully automated this overall strategy. It took me 2+ yrs of learning how to code, build a multipair, multi-timeframe backtesting framework to trade setups that have only worked 80+% of the time in my stats.
I make very decent income from my primary job so my professional career will remain my priority for next 5 yrs. This automation is in preparation for my retirement as an objective for passive income and to travel and trade from anywhere in the world... donate some and pass on 'my' version' of this strategy to my kids and their kids :-)
Long term strategy has to meet your long term objectives. Find yours instead of following every little detail from this thread.
Hope this helps.
Hi Vee,

If you hope this helps (and I think it would to those in the right mindset) why delete your posts? There's no need for chit chat as you put it so your time is free to spend as you wish. Surely deleting your posts takes time from your schedule so it's a choice you make without a clear objective. You're free as we all are to post what you wish when you wish and not return to respond to anyone that may respond to your posts.

Good to hear you've made something of your efforts as that's more than most by far.

Cheers.
  • #7,255
  • Jul 5, 2017 6:45pm Jul 5, 2017 6:45pm
Quoting VEEFX
{quote} Thanks man. I will be moving towards being my own broker and trade via API outside of MT4 environment. It's been a year now that I have traded on charts and the freedom that comes with it is simply exhilarating. No more starring and waiting for setups. My automation now has the ability to scan literally millions of trade setups using the approach of "Market is Universal and Neutral". I could not understand the real meaning of this until I dealt with data mining all my signals across 28 pairs (I started with 76 pairs but it got too much for...
From where did you learn how to code? It seems really interesting and by coding you have to perfect your strategy even better by understanding why is everything happening
  • #7,256
  • Jul 5, 2017 11:03pm Jul 5, 2017 11:03pm
Quoting VEEFX
{quote} Thanks man. I will be moving towards being my own broker and trade via API outside of MT4 environment. It's been a year now that I have traded on charts and the freedom that comes with it is simply exhilarating. No more starring and waiting for setups. My automation now has the ability to scan literally millions of trade setups using the approach of "Market is Universal and Neutral". I could not understand the real meaning of this until I dealt with data mining all my signals across 28 pairs (I started with 76 pairs but it got too much for...
Hi VEEFX,

Thanks for the details. Nice one.

Benz
  • #7,257
  • Jul 6, 2017 12:33am Jul 6, 2017 12:33am
Quoting VEEFX
{quote} Perhaps no one would question why I posted the screenshot within the context of 3x20 exercise. Here's why.... for those we are still attempting the 3x20 exercise, tt is designed to make you realize that without compelling momentum, a hard 20-pip SL is not enough to build legs. It is designed to make you realize the hard truth about where NOT to put your stop losses. It is designed when not to probe if your SLs fall within the range of broker manipulation, it is designed to help you understand that losses will ALWAYS happen in trend following...
Hi VEEFX,

Got it. I'm using daily time frame, Getting minimum orders. You're correct. Hard 20 pip SL is not suited for me. I think, I will try 4h.

Benz
  • #7,258
  • Jul 6, 2017 1:16am Jul 6, 2017 1:16am
Quoting VEEFX
{quote} Thanks man. I will be moving towards being my own broker and trade via API outside of MT4 environment. It's been a year now that I have traded on charts and the freedom that comes with it is simply exhilarating. No more starring and waiting for setups. My automation now has the ability to scan literally millions of trade setups using the approach of "Market is Universal and Neutral". I could not understand the real meaning of this until I dealt with data mining all my signals across 28 pairs (I started with 76 pairs but it got too much for...
Good luck
If you become the next Citadel, hire me to analyze charts and I will find the best setups
  • #7,259
  • Edited 9:39am Jul 6, 2017 9:16am | Edited 9:39am
Quoting VEEFX
{quote} Perhaps no one would question why I posted the screenshot within the context of 3x20 exercise. Here's why.... for those we are still attempting the 3x20 exercise, tt is designed to make you realize that without compelling momentum, a hard 20-pip SL is not enough to build legs. It is designed to make you realize the hard truth about where NOT to put your stop losses. It is designed when not to probe if your SLs fall within the range of broker manipulation, it is designed to help you understand that losses will ALWAYS happen in trend following...
What I can see from your screenshot: (I may be REALLY wrong)

 

  1. If your win rate is lower than 55%, then you lose money.
  2. The amount of trades you take doesn't change how much profit you make ultimately by a lot. You take less trades in higher timeframes, like monthly and weekly, but the pip ratio is better than on lower timeframes. Still, you prefer to take all opportunities.
  3. You take trades by analyzing the hindsight relative between two and four time frames. For example: You may look at monthly trend and daily trend and see if they are both going down. Or weekly and daily. But you always follow the main monthly, weekly or daily trend.
  4. The average PnL is a low amount, so you probably diversify early most of your trades. But you also keep some as legs.
  5. On some crosses, your strategy works much better than on others.

Maybe you missed this question from before: "From where did you learn how to code? It seems really interesting and by coding you have to perfect your strategy even better by understanding why is everything happening"


If you didn't miss it and don't want to answer just ignore it.

  • #7,260
  • Jul 6, 2017 10:49am Jul 6, 2017 10:49am
Quoting VEEFX
{quote} I have no doubt you are good with charting. I am desperate to find someone who can prove me wrong https://www.forexfactory.com/showthr...0#post10041180 single pair, single timeframe any indicator/PA setup/etc
I will not argue with that.
I use at least 2-3 timeframes to find "hot spots" and that has worked well for me.
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