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Building an equity millipede

  • #7,381
  • Edited 4:27pm Jul 22, 2020 4:03pm | Edited 4:27pm
Quoting dodomir
To find low risk entries is not so difficult, the difficult part of this strategy is not to close profitable positions when the market is against you. The entry is not a big problem, the question is when to exit. If I may summarize the strategy, low risk entries on lower time frame (5 minute) for example, exits on daily or weekly chart.
Hi, its not a question of finding good entries. easyPips gave an example where entry does not matter... Well it does but he basically setup a couple of exercises in which there are no brainer entries. But anyhow ones you select your "ENTRY" of choice then its just a matter of the repetitive execution that matters.

1. decide what your entry you will use.
2. Execute the entry religiously
3. Set SL/TP/BE religiously
4. KEEP doing the same NO MATTER DD or GAIN

After several months you will have such HUGE millipedes that you can then start closing out branches to cover for any loses or commission...
Our AWESOME IMAGINATION is the true holy grail!
  • #7,382
  • Jul 22, 2020 4:25pm Jul 22, 2020 4:25pm
Quoting Swnlobo
{quote} Hi xmess7 Can you point to the horizontal line exercise? Thanks All the best Swnlobo
I'll point you to two simple exercises:

The 00 line:
https://www.forexfactory.com/showthr...96#post3899196

The Asian Open:
https://www.forexfactory.com/showthr...39#post3888639
Our AWESOME IMAGINATION is the true holy grail!
  • #7,383
  • Jul 22, 2020 5:48pm Jul 22, 2020 5:48pm
Quoting xmess7
{quote} I'll point you to two simple exercises: The 00 line: https://www.forexfactory.com/showthr...96#post3899196 The Asian Open: https://www.forexfactory.com/showthr...39#post3888639
"Kewl"



Many Thanks

Regards
Swnlobo
  • #7,384
  • Edited 1:58pm Jul 23, 2020 12:06pm | Edited 1:58pm
Quoting xmess7
{quote} Hi, its not a question of finding good entries. easyPips gave an example where entry does not matter... Well it does but he basically setup a couple of exercises in which there are no brainer entries. But anyhow ones you select your "ENTRY" of choice then its just a matter of the repetitive execution that matters. 1. decide what your entry you will use. 2. Execute the entry religiously 3. Set SL/TP/BE religiously 4. KEEP doing the same NO MATTER DD or GAIN After several months you will have such HUGE millipedes that you can then start closing...
I have read this thread many times, i know what i'm talking about, look at this post #7,325. Good entries are very important, they can reduce losses (more losses more stress), you cannot short on support or long on resistance for example and expect to be very successful trader (you can if the breakout is high likely).

The market is not a casino (at least for me), you have to participate in high probability setups only. I prefer brainer entries (and pipEASY too i think), not just mechanical "exercises". These exercises that pipEASY gave us was just examples that anybody can trade this strategy, but they will increase the number of losing trades, if somebody want mechanical trades, there are many indicators to use.

I suppose we are price action traders, not a mechanical traders.
The trader have to be a range trader in range bound market and trend trader in trending market, in narrow range is difficult to trade but not impossible.

I prefer trending market of course but the market does not care what i want and i have to adapt to different conditions as they occur.
  • #7,385
  • Sep 4, 2020 8:13am Sep 4, 2020 8:13am
Is anybody in the US doing this strategy and what broker are you using?
  • #7,386
  • Sep 12, 2020 11:50am Sep 12, 2020 11:50am
Quoting dodomir
To find low risk entries is not so difficult, the difficult part of this strategy is not to close profitable positions when the market is against you. The entry is not a big problem, the question is when to exit. If I may summarize the strategy, low risk entries on lower time frame (5 minute) for example, exits on daily or weekly chart.
not sure if anyone still following this thread
about when to exit, trailing stop is one alternative, could be to D1 last low if long/last high if short, to D1 PSAR, to D1 MA etc, the old Turtle system use it too
basically entering from Low TF to try to get into High TF movement and holding on until the Trailed SL hit, probably not perfect but then again nothing is perfect in trading
In the end its just a stupid numbers game
  • #7,387
  • Oct 7, 2020 5:13pm Oct 7, 2020 5:13pm
Hello,

Is there anyone using this method on a crypto exchange ?
If yes, which ones still allow to have multiple separate positions with different SLs on a same future pair ?

Many thanks to all of you
Benoit
  • #7,388
  • Oct 19, 2020 5:59am Oct 19, 2020 5:59am
I am just returning to trading after a long illness and major family problems .I am very interested in this method and have read all pipEASY posts , but I cannot open the image shack charts to study then , can anyone help please ?
  • #7,389
  • Oct 24, 2020 8:49pm Oct 24, 2020 8:49pm
Thank you Graem and everybody,

I have learnt a lot. Graem said Flying Buddha gets 40% right, so then, the opposite is 60% wrong. A system/strategy has 60% win rate is remarkable
  • #7,390
  • Dec 10, 2020 1:53am Dec 10, 2020 1:53am
Quoting robuk
I am just returning to trading after a long illness and major family problems .I am very interested in this method and have read all pipEASY posts , but I cannot open the image shack charts to study then , can anyone help please ?
There is a pdf here
Attached File(s)
File Type: pdf pipEASY Posts Only With All Charts Part 1.pdf   8.9 MB | 2,280 downloads
  • #7,391
  • Dec 10, 2020 4:35pm Dec 10, 2020 4:35pm
Quoting dommech2
{quote} There is a pdf here {image}
A million thanks for that PDF! It would be amazing if somebody has the rest. I found this thread while I was searching in reddit for trading techniques. A person posted a link to this thread. May I mention that I started learning/educating myself on trading for the last 3 weeks. I would have never imagined that somewhere far away in a random reddit post, lies a link to the Aladdin's Cave. Although I am new in the field, having reached page 145 (sadly the chart pictures are deleted), i can safely say that Graeme's detailed and thoughtful explanations opened many people's eyes and minds , including mine.
Mr. Graeme, wherever you are , I hope you are living a happy , healthy life full of joys, and know that this thread is still impacting traders 10 years later, and for the decades to come. I hope you return one day to this forum.

Indeed, market is universal, and so is Graeme.
  • #7,392
  • Edited 1:23am Dec 11, 2020 1:09am | Edited 1:23am
A million thanks for that PDF! It would be amazing if somebody has the rest.

Here you go buddy

maybe use the paper clip at the top of the page to find it next time
Attached Image (click to enlarge)
Click to Enlarge Name: paperclip.PNG Size: 68 KB
Attached File(s)
File Type: pdf pipEASY Posts Only With All Charts Part 2.pdf   8.9 MB | 2,961 downloads
File Type: pdf pipEASY Posts Only With All Charts Part 3.pdf   8.8 MB | 1,903 downloads
File Type: pdf pipEASY Posts Only With All Charts Part 4.pdf   9.0 MB | 1,554 downloads
File Type: pdf pipEASY Posts Only With All Charts Part 5.pdf   3.8 MB | 1,432 downloads
File Type: pdf pipEASY Posts Only With All Charts Part 6.pdf   5.6 MB | 1,597 downloads
File Type: pdf pipEASY Posts Only With All Charts Part 7.pdf   5.7 MB | 1,531 downloads
File Type: pdf pipEASY Posts Only With All Charts Part 8.pdf   6.0 MB | 1,625 downloads
File Type: pdf pipEASY Posts Only With All Charts Part 9.pdf   2.1 MB | 1,715 downloads
  • #7,393
  • Jan 1, 2021 2:29am Jan 1, 2021 2:29am
Hello,

I am a new trader, this is a great read and I want to try the system. The only thing I don't understand is how to deal with the overnight fee?

Thanks
  • #7,394
  • Feb 23, 2021 3:53am Feb 23, 2021 3:53am
Hi guys,
I have a question if any of you would be kind enough to respond.
When PipEasy took entries based on 4hour, Daily hindsight, do you know if he still used the 5min chart to assess momentum? There was talk of hard stops for these timeframes but I think this may have related to those rare times he had to leave his trading desk for a while.
Many thanks
  • #7,395
  • Feb 23, 2021 12:17pm Feb 23, 2021 12:17pm
Quoting wombles
Hi guys, I have a question if any of you would be kind enough to respond. When PipEasy took entries based on 4hour, Daily hindsight, do you know if he still used the 5min chart to assess momentum? There was talk of hard stops for these timeframes but I think this may have related to those rare times he had to leave his trading desk for a while. Many thanks
From my understanding, that is correct. It allows him to close a position with a much smaller loss if he doesn't think it's going to work out.
  • #7,396
  • Feb 23, 2021 12:51pm Feb 23, 2021 12:51pm
Thanks MrBeef. I think PipEasy used the 5min as "real time" price action and it told him whether a given move had momentum or not. He was only interested in those moves that went directly into profit.
  • #7,397
  • Feb 23, 2021 5:16pm Feb 23, 2021 5:16pm
Is anyone still trading this approach? I hesitate to say "method" as there is so much more here.
Thanks again to Pip Easy's generosity.
  • #7,398
  • Feb 23, 2021 8:21pm Feb 23, 2021 8:21pm
Quoting wombles
Is anyone still trading this approach? I hesitate to say "method" as there is so much more here. Thanks again to Pip Easy's generosity.
I’ve read the thread quite a few times now over the years. Dabbled here and there with a demo account. Went live less than a month ago after having some conversations with a professional trader. It’s too early to tell for me, but with a very small account I’m up 35%. A few markets are moving right now so I’m hesitant, but with a decent entry method and ability to cut losses small I don’t see any reason why it can’t work. Most difficult part for me at the moment is that since my account is small I don’t have the margin to continually stack. Only enough room for 7 or 8 positions at a time. This makes deciding when to “diversify” a little more difficult because I have so few positions to choose from. Again, my results are too soon to tell. However, every book I’ve read and every piece of advice I’ve been given outside of this thread seems to say the same thing. Keep losses small, let winners run. Now, the decision to hold indefinitely is what makes Graeme’s approach special
  • #7,399
  • Feb 23, 2021 8:45pm Feb 23, 2021 8:45pm
Quoting nqhuy183
Hello, I am a new trader, this is a great read and I want to try the system. The only thing I don't understand is how to deal with the overnight fee? Thanks
I think Graeme addressed it in a post. Not sure where, but I can assure you that if you are successfully adding positions to a trending pair of currency the “finance fee” is a drop in the bucket. Assuming you’re using a reputable broker with a reasonable fee structure. Also, by having positions on the buy and sell side some of those fees are recouped. If you’d like to see Graeme’s response to that question it’s in here somewhere.
  • #7,400
  • Edited 9:47pm Feb 23, 2021 9:32pm | Edited 9:47pm
Good to hear that you are trading the Millipede MrBeef and congrats on the very respectable return. I am trading a version of the 3x20 pip exercise at the mo. I hear you re the account size and ability to stack multiple times especially across different currency pairs. Pip Easy did mention that even one or two stacks at the beginning of the move can make the world of difference.
Early days for me using this approach...
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