Building an equity millipede

Hi Ben,
Yours and previous posts show the variety of traders here and what we look at;
It would be interesting to know how many monitors Graeme is using; I found last week that I am too busy looking at two currency pairs on a 5 min TF to take in much else . Just looked at the stats on my positions and for the record have had 75 trades
Losses 37 - about 800 pips - too much!
BE - 21
I closed some fully and rest partially - (decided to diversify Friday closing time to keep my balance static.)
Currently 5 runners of half positions on 4 pairs - + 1200 pips. So could be +2400 with a drawdown of 800.
Learned much AND made some money - hopefully.

Have more than double that on my practice account, (using 'blind' daily technique on 12 pairs), with a drawdown of over 1000 pips.
If I remember Graeme mentioned in prior posts that he had 1400 and 2000 pip losses as a result of sloppy trading; so we must expect at least that at this stage.

Cheers

Ray

Good morning, all

Thank you for the continued interest and the compliments. It is greatly appreciated.

I have read all the posts and I would like to explain few things.

Currently, alot of the traders do not have a personal trading data on themselves yet.

This is very important information that you can reflect back to improve your future trading plan/method

For example:

For the last 2 weeks a trader took 80 entries.

40 losses @ 15 pip each (im being fair with this amount)
30 breakevens
10 still alive

Total realized loss is -600 pips

Average loss per position is 7.5 pips.

That is well below suggested 10-15 pips average loss per position.

You are doing well as a professional trader and keeping your risk to minimum.

-600 pips doesnt look pretty for now but it is only a dip before the volatile breakout on your equity curve.

For the last 2 weeks, alot of the discussion was about entries. More specifically how I do it on the lower timeframe. Hence, I explained mini s/r breakouts, momentum breakout, price action at .00 and so on.

If the last 2 weeks was focusing on lower timeframe entries, allow me to show all traders how to bend with the wind by using hindsight from higher timeframe and zooming in.

What do you do on the weekend?

I log into my platform and draw up a battleplan for the coming week. Looking for areas of interest before monday. Do you do this?

Alot of traders ask how I can focus on almost 20 pairs. I pre-select my interest on the weekend before monday.

This is a true story that happened only recently. Hope readers gain a new insight.

http://img163.imageshack.us/img163/645/aa1qk.png

Now I dont know what can happen after that flying buddha. However I do know that if the price after the flying buddha goes towards the preferred volatile breakout with change of direction that is huge potential for profit.

http://img265.imageshack.us/img265/9844/aa1q.png

Now use this hindsight gained from weekly chart into lower timeframe

http://img837.imageshack.us/img837/4514/aa1a.png

Now I zoom into next level down. Level 1. Has anyone seen the movie inception?

http://img101.imageshack.us/img101/258/aa1h.png

So lets stop here. Weekly candle (level 0) says down. 4hr chart (level 1) price setup also says down. Lets zoom into 5 minute chart (level 4) for a very very hardcore razor sharp entry. 1hr chart would be level 3.

http://img828.imageshack.us/img828/5286/aa1o.png

http://img413.imageshack.us/img413/1378/aa1z.png

thanks for putting it in place.
i've been trying to piece together what you've taught us for the last month and integrate it into my trading plan.

unfortunately i'm a longer TF trader and still prefer the higher TFs after some exercises that i've done for the past wk. i can see the risk reward improving on the lower TFs just that its very tedious on the body and a fulltime job doesnt allow active monitoring.

nevertheless what i've taken out from this thread so far that no other mentor has taught is how to stack effectively with min. risk and take double triple of what market wants to give with precise entries.

thanks graeme

looking forward to more of your future lessons and always keeping and open mind

greatly appreciated

So you gained hindsight from level 0 (weekly chart), entered level 1 (4hr chart) for a setup and then took it one step further and entered level 4 (5min chart).

The more you enter levels the less you are risking for a higher profit but more smaller losses.

http://img152.imageshack.us/img152/7070/aa1.png

You can use inception to any way you like.

You could even gain hindsight from level -1 (monthly chart) and then keep entering/filtering all the way until level 4. Risking less than 10 pips for few thousand pips.

This is level -1. Monthly chart. Very very large battleplan. Its a shame not many traders venture here when the biggest profit is here on the monthly chart.

http://img824.imageshack.us/img824/3734/aa2c.png

Can all traders see that the flying buddha 2 weeks ago on level 0 was all part of the plan from level -1????

Must understand this

May I request all traders to please re-read the last few charts I have done today.

I believe that is the final link to what most traders are looking for.

If your question is any of these:

1. 5min chart feels so aimless. All I can see is losses and drawdowns.

-- You know that just entries on 5min chart is fruitless without a proper bigger goal/expectations in mind.

2. How do you know when to trade and where to trade

-- Using battle plan on level -1 and level 0 into level 4

3. We can see how you enter but I still dont understand how we can profit in the long run

-- This is because you have no idea what to expect. Last 2 weeks I was hoping/expecting a volatile breakout after the flying buddha on weekly chart (level 0) on eur/usd. Sometimes it doesnt work out but if it does then you hit a very very very large jackpot that will last you more than enough for the next golden opportuntiy. My reward? +500 pips per position that I currently hold

4. So why all these entries on lower timeframe

-- Doesnt matter if you can shoot 3 point basketball shots when you cant dribble properly across the field.

I request that all traders use the last few charts to connect everything we have discussed in the last few weeks; entries, breakouts into what I have shown today. All part of the intended flow.

It should click now.

Sincerely,

Graeme

Thanks Graeme,

You last few posts have answered a lot of questions I have had at the back of my mind.

Kind regards,

michael

Hi Graeme,

Terrific stuff. Sincere thanks for all the pains you have taken to share.

Great place to learn.

All the very best.

Regards,
TS

Hi Graeme,

Going by your weekly plan last week's EUR/USD candle ( I mean a week prior) also would have prompted to us to look for potential break out to the down side with possibly some failed attempts

Is this understanding correct?
Thanks
TS

Thanks for going into the larger time frames.

At this point its just a matter of practice and perseverance to perfect the knowledge that you have given us.

I still find that you've left enough room to allow me to mold the techniques to suit my personality and strengths.

The live trades that you provided in the past few days have been tremendously helpful. It was worth staying up most of the night and witnessing market participation using a logical statistical approach.

That being said I think the USD/JPY is worth paying attention to because its reaching some important levels on the weekly and monthly charts.

Lets see if the market can provide us with a mega move.

Much respect, admiration and appreciation for you Graeme.

Thank you for the compliments wooli and great question.

I mentioned once before

"look inside of the inside of the inside"

Always anticipate then minimize your risk on entry and then let it play out.

Draw your battleplan on weekend on level 0 on all 20 pairs of currency marking all the pair that has interest. As the week plays out, zoom in for perfect entries.

Im just stepping out today and will return later on.

I have a final assignment for all the willing participants.

Sincerely,

Graeme

Interested

You mean TradeStar right?
Thanks for your response.

Regards,
TS

Hi Guys,

Here is another 5M entry showing multiple rejections followed with a FB and lower wick entry. One of the tricks I use is when I see several rejections around the same level on 5M chart (let's say to the up side) I go to 1hr chart. Typically you'll see a few candles with wicks on the long side of the candle. I use my shape object and draw a rectangle from the body of the candles to the tops of the wicks..again as close as you can get it. The attached 5M chart shows what it looks like. On the last attempt to go higher I noticed a FB followed by two lower wicks when price hit the bottom of the purple rectangle I entered. I've taken a 15 pip profit and used the 15 pips as my hard SL so the worst case for this trade will be break even.

Are you guys seeing what I am seeing right now? There is correlation on several pairs that something big is about to happen. Could be a false alarm but it looks like something is poised to break.

u/j is within a few pips of breaking very powerful support line around 84.70. e/u is strangely tight range even though g/u has been trucking south like crazy all during the Asian session. E/G and usdcad both appear to be forming flying buddha.

London open should be interesting.

Entered after the FB at 1.0412 on H4 time frame.
Risking 18 pips for maybe something big.
Will see how it goes.

Good afternoon all fellow traders

It has been 2months since I have started this thread and I appreciate the support and the care of the fellow traders out there.

I know how frustrating it is with so many information on how to trade but believe me when I say that trading effectively is far simpler than you think.

You will be amazed how complex yet simple our market is.

Some readers only need the small push in the right direction before they pick up momentum while some readers require a bigger re-conditioning of their perspective.

I never imply that my method/ideas are the only correct method however please acknowledge that I once too was sitting where you currently sit and what I do now has proven very successful over and over for myself.

Although I had benefits that Im fortunate enough to have when I started which is not the case to most. However, never let this be held against you as once the ball starts rolling your capital will grow faster than you think.

Currently, Im still working on the written material for all and will keep my promise. I can honestly say that I have contributed far and wide with enough details for any readers to use the pieces and the blueprint I have shown to form their very own juggernaut trading method.

I plan to push everyone who is willing to jump in faith and emerge what they have read and translate it into action in my next assignment. You do not need to participate if you do not want to.

My primary goal in this assignment is to prove that all readers are mostly ready to trade effectively. Im going to push you into depths that you have not experienced and hopefully it will be the first step on each traders personal juggernaut trading method.

All the reference needed to complete this assignment is in this thread and there is no need to ask other participants if your answer is right. There is no right or wrong answer as we will all inevitably meet at the final door of profits.

Continuing on..

I'm been watching silently this thread and stuck gold! Thanks again to Graeme for his wiliness to share and to help. This thread should be labeled "sticky".

As pip_daddy says, I noticed that GU also going to break support on the weekly chart on 1.5400 & UJ 85.00 - 84.70 (monthly, weekly)..my guess is that you'll going to see a Huge Movement on the G/J very soon.

my 2cts

I have been blessed by many readers to acknowledge my efforts and issue me with vouchers. They are greatly appreciated.

I feel obliged to also reward traders that I feel that are correctly interpreting and participating in the markets.

Plaese note I do not place myself higher authority to be a judge so please dont take it as an offence.

For the willing participants here is my next assignment for all.

We are going to use:

1. Drawing a battleplan on weekend using the recent completion of weekly candle to forecast the next 2 weeks of movement.
2. Inception into lower timeframe and the traders ability to pin-point tight entries.
3. Traders ability to minimize risk and safeguarding their capital
4. Managing the positions to stretch out the profits indefinitely
5. Using various position management tactic to ensure that your battleplan is working out as intended

If all the 5 points are ticked, I will guarantee you a big hefty profit after 2 weeks and my personal vouch for your efforts and positive outcome.

I have created an email address specifically for this project and its at pipeasy at yahoo.com

Just like any good assignment I wish to see a properly structured flow of thoughts in the next 2 weeks.

Starting from this weekend:

1. Going through each 20+ pairs of currency and pre-selecting just 1 pair of currrency that you deem to have a higher probability of intended movement. It could be a flying buddha, inside bar, engulf, ema crossover, pin bar or any you can think of. I want to see a clear valid reasons why

2. Once the monday opens after the weekend I want to see all traders using the hindsight gained from above point 1 and at least zoom into one level down. Preferably multi level down. I want to clearly see that your entries are respecting the hindsight you have chosen and you are also minimizing risk.

3. I do not want to see overexposure by revenge entries, thoughtless invalid entries or just for the sake entries.

4. I would prefer to see traders zoom in multi levels and finally use pure price action on 5mniute charts with average loss per position not exceeding 15 pips on any pair except jpy cross (for jpy 20-25 pips average loss per position). You can still multi level and draw battleplan from level 0 (weekly) and then price setup on level 1 (4hr) and then execute a precise low risk entry on level 3 (1hr)

5. I want to see effective position management. Profits should be maximised and risk should be minimized

6. I want to see full committment on your pre-selection that you did on 1st weekend until it 'clearly' doesnt work out.

7. If the pre-selected pair of currency does not work out as intended for the next 2 weeks, I want to see traders placing effort in minimizing their drawdowns.

8. I want to see more effective stacking when the movement is working as intended on battleplan from level 0 and when movement doesnt I want to see traders prodding with extra small scouts.

9. I want to see that you clearly understand the difference between guessing and anticipating.

10. All work needs to be submitted with trades taken from your mt4/oanda platform. It can be demo or live and ofcourse you can black out any sensitive personal id number.

Now for the template for you to work on

Continuing on..