Building an equity millipede | Page 53 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Thegman's Journal (Equity Millipede Concept) 102 replies

Trading an Equity Millipede 23 replies

Equity millipede & Flying Buddha trading journal 9 replies

Build an Equity Millipede with the filtered Flying Buddha 171 replies

Application Development - Journal of Building an equity millipede 14 replies

Attachments: Building an equity millipede
Exit Attachments

Building an equity millipede

  • #1,041
  • Aug 18, 2010 5:07am Aug 18, 2010 5:07am
i only have 2 positions left, an aud/usd, and a aud/jpy.
but hey i only lost 0.002%, wont take much to catch that up.
sooooooo NEXT!!!!

i found today's action good, it was satisfying to be in the trades at the right place, but doesn't bother me too much that most are now closed,the market decided where it wasn't going,its all good,most where at BE, and now i'm closer to getting in on a good move.

btw
i am live trading.
  • #1,042
  • Edited 5:36am Aug 18, 2010 5:11am | Edited 5:36am
From 6 positions, only 1 audusd left from 0.9059.

Graeme
Regarding line charts: will you take order from the information of a line chart or a candle chart?

On eurusd H4 on the line chart high price is 1.2890 and on the candle chart is 1.2914.
And what will be your SL?

Thank you
  • #1,043
  • Edited 6:28am Aug 18, 2010 6:13am | Edited 6:28am
All the EU positions I entered after the FB have closed out now - tough.
Doesnt worry me as much as I thought it would.
Felt good being able to push it to get all 4 entries in at reasonable spaces, even though I started a bit late.
1st was definately at the wrong time, given the close SL I was trying.
2nd turned good profit early, which allowed me to use that to cover the next 2 sells. Saved my capital being risked.
This progressed to leave the 3 on board at their BE's, till the euro session retrace up.

Next aim, is to plan to do it with half TP's. That may allow better SL's on the remaining trades, as I like to think of the retests.

cheers scalpz
Target 2 : Stoploss in the green
  • #1,044
  • Aug 18, 2010 8:33am Aug 18, 2010 8:33am
I think today was a hard lesson for some people. The lesson continues because the market is still trying to sort out sentiment on e/u, g/u.

My plan is to keep throwing stuff at the wall until something sticks.
  • #1,045
  • Aug 18, 2010 8:51am Aug 18, 2010 8:51am
Managed to get about 30 positions on 5 pairs.
Pruning and adding at stallng points netted 130 pips.
Still 2 double positions running - about 120 pips plus.
Interesting to see explosion in profitability when stacking. More than 700 pips over a 25 pip spread and most positions at BE; entered all with 6 pip SL only 3 losses!
Thanks for heads up - was just going to bed!
  • #1,046
  • Aug 18, 2010 9:01am Aug 18, 2010 9:01am
nice job traderray!!!

I took 1 EU, 1 GU, 1 NU on FB. Hope now it work.
1 AU position is still alive from the morning.

All are at BE.
  • #1,047
  • Aug 18, 2010 9:09am Aug 18, 2010 9:09am
Quoting traderray
Managed to get about 30 positions on 5 pairs.
Pruning and adding at stallng points netted 130 pips.
Still 2 double positions running - about 120 pips plus.
Interesting to see explosion in profitability when stacking. More than 700 pips over a 25 pip spread and most positions at BE; entered all with 6 pip SL only 3 losses!
Thanks for heads up - was just going to bed!
Nice trading traderray! Any chance of a chart or two from anyone to see how you guys traded the FB today? Would be very much appreciated.

Cheers,
Bak
  • #1,048
  • Aug 18, 2010 10:06am Aug 18, 2010 10:06am
Quoting traderray
Managed to get about 30 positions on 5 pairs.
Pruning and adding at stallng points netted 130 pips.
Still 2 double positions running - about 120 pips plus.
Interesting to see explosion in profitability when stacking. More than 700 pips over a 25 pip spread and most positions at BE; entered all with 6 pip SL only 3 losses!
Thanks for heads up - was just going to bed!
'most' at BE? What percentage of your capital is at risk when you add up all your potential losses for positions not at BE?
  • #1,049
  • Aug 18, 2010 11:12am Aug 18, 2010 11:12am
Quoting pip_daddy
'most' at BE? What percentage of your capital is at risk when you add up all your potential losses for positions not at BE?
When adding a new position last was promoted to BE so on 5 pairs only 30 pips ever at risk, but given probs of focusing on 5 pairs of 5 min candles only focused on 2. I have to say I was aware of this or rather a very similar strategy which I used to work off a one minute chart.
  • #1,050
  • Aug 18, 2010 11:28am Aug 18, 2010 11:28am
As it's impossible for me to trade intraday due to my job and some precious family time, I'll give the "flying buddha stacking" approach a shot on the daily timeframe. Will have larger SL, probably more drawdown but over time this will hopefully work out positively as well...
  • #1,051
  • Aug 18, 2010 11:39am Aug 18, 2010 11:39am
Quoting pip_daddy
'most' at BE? What percentage of your capital is at risk when you add up all your potential losses for positions not at BE?
My money magement does not allow me to risk more than 1.5% per trade. In this case on the 5 new trades risk of 30 pips was less than 0.5% overall.
  • #1,052
  • Edited Aug 19, 2010 11:01am Aug 18, 2010 2:08pm | Edited Aug 19, 2010 11:01am
In respect of last nights FB this how it panned out for me on Eur/Usd and JPY.
The entries are not fantastic, but bear in mind if you are cycling through 5 ccy pairs at the same time all new candles start at same time!
If I had thought there was any/much more momentum in these I would have stayed in.
Also it was several hours after my late night cocoa.
  • #1,053
  • Aug 18, 2010 2:17pm Aug 18, 2010 2:17pm
Also, I hope the maestro will agree, but with respect to above, my conviction that this was not going to last was engendered by the long, (too long), wicks down on most of the down candles. It shows buyers still interested.
  • #1,054
  • Aug 18, 2010 5:04pm Aug 18, 2010 5:04pm
Here are mine. The only thing I would have probably done is have one more entry between my first and second see chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Euroflyingbuddah1.png Size: 64 KB
  • #1,055
  • Aug 18, 2010 5:39pm Aug 18, 2010 5:39pm
Hello Graeme,

have you ever considered applying the same strategy to commodites. If you enter a position which you intend to hold for 20 years if you have to I see the problem that currencies tend to range over that time period. Still you will have plenty of good trends (see EURUSD) but for EUR/USD to got to 4.000 or 7.000 the Dollar would have to lose value like crazy. If for the next 20 years the US and EU Economy developes similar (which is very likely) I belive that EU will trade within the already known range of 0.8 (altime low) 1.6 (all time high) for that time. If you look at commodities they experience a much bigger gain on a percentage basis Wheat went up from 300 to 1300 during 2005 to 2008. compare that to a movement in currency pairs.
  • #1,056
  • Aug 18, 2010 6:47pm Aug 18, 2010 6:47pm
Anyone on Eur this am???
  • #1,057
  • Edited 7:03pm Aug 18, 2010 6:59pm | Edited 7:03pm
Quoting leggo
Anyone on Eur this am???
Nope ...I hope you are though. I was going to start entering on 5m if it closed below 2835 which it did but I missed my planned entry and now I gotta go out.

Good trading.
  • #1,058
  • Aug 18, 2010 7:02pm Aug 18, 2010 7:02pm
Yeah got in early but was waiting for a retrace to add again!!! no retrace yet. now I know what compelling momentum is!!!!
  • #1,059
  • Aug 18, 2010 7:08pm Aug 18, 2010 7:08pm
Just very quickly.

Hope everyone noticed the first 1hr candle of eur/usd.

That is volatile breakout at best. 5 out 5 star.

Breaking 1.28500
Breaking 1.28440 (area, of the low wicks before)

No stalls, no resistance from buyers, just pure simple explosion.

Breakouts like this has the higest probability.

Hope you witnessed it live and see the difference between this type of excellent breakout to what we experienced yesterday.

I had 2 positions on 1.28500, just moved SL to BE as I have to leave the office for the day.

Sincerely,

Graeme
  • #1,060
  • Aug 18, 2010 7:13pm Aug 18, 2010 7:13pm
hi Graeme,
Great to watch I managed to get in early but waited for the retrace to add a position which has just happened. First entry is at B.E. let the gods decide!!
Regards,
Ben
11 traders viewing now