Building an equity millipede | Page 85 | 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

  • #1,681
  • Aug 29, 2010 10:54pm Aug 29, 2010 10:54pm
EU 1 Hour chart. Anticipating a break at 1.27338. Hindsight is down from Daily, 4 hour, and 1 hour confluence. Entry was based on 1 minute.
http://img844.imageshack.us/img844/1958/eu4.png
  • #1,682
  • Aug 29, 2010 10:56pm Aug 29, 2010 10:56pm
Quoting muntu ntu
Hello,
Here are 2 yearly charts. True they aren't different from 5 min. ones, with some flying buddha's failing but the succeeding ones growing into huge legs.
Please , where can i find the flying buddha's failing explanation ? in wich page/post ?

Thx!
  • #1,683
  • Aug 29, 2010 10:57pm Aug 29, 2010 10:57pm
Quoting ozziedave
It's possible the yen pairs may retrace upto 50% of the weekly pin bars before they attempt another up move. Even though the USDJPY and EURJPY are in a downtrend the weekly pin bars and the fact they are FBs with the threat of BOJ intervention makes me very hesitant about taking short positions. I may wait until the weekly pin bars are broken to the downside before I think about shorting these pairs.

Again, just my opinion for what it's worth.
I agree Dave my hindsight is bullish on this pair but only after a retrace. I was tempted to take some short term profit on the ride down but keeping it simple for now. Only trade short if weekly support is broken.
Regards
Ben
  • #1,684
  • Aug 29, 2010 10:58pm Aug 29, 2010 10:58pm
pipEasy

Thanks a lot for all your time, I know that this was not something you had to do or needed to deal with.

Ive been shifting my entries to more longer term charts over the last month or so, and then I found this thread, which has helped clarify targets and strategy immensely.

I have been trading from extremes for a while now based on another mentors teachings and your posts have helped me switch from intraday (often intrahour) to a longer term, more stress free approach, using exactly the same entries I have been using on short tf's in the past.

I believe that one would have to be terminally stubborn or unrelentingly ignorant to not gain from your kind and generous postings.

G.
  • #1,685
  • Aug 29, 2010 11:22pm Aug 29, 2010 11:22pm
Quoting jdcabona
Please , where can i find the flying buddha's failing explanation ? in wich page/post ?

Thx!
I think a failed FB must be a FB that was (or could have been) entered and then was stopped out (SL hit at opposite side of FB) .

Also, i would like to add that it has been mentioned several times by OP (Graeme) that there are MANY signals which may be considered, not just FB, for example. . . engulphing bar, inside bars, pin bars etc. . . what is important is to recognize a 'signal' that your intended direction (gained by 'hindsight of larger TF) is being favoured (by price action on lower TF) and then to act upon that signal with the least amount of exposure possible (enter inception methods) in effort to enter the market with low risk.
  • #1,686
  • Aug 29, 2010 11:34pm Aug 29, 2010 11:34pm
Quoting andante9
I think a failed FB must be a FB that was (or could have been) entered and then was stopped out (SL hit at opposite side of FB) .

Also, i would like to add that it has been mentioned several times by OP (Graeme) that there are MANY signals which may be considered, not just FB, for example. . . engulphing bar, inside bars, pin bars etc. . . what is important is to recognize a 'signal' that your intended direction (gained by 'hindsight of larger TF) is being favoured (by price action on lower TF) and then to act upon that signal with the least amount...
Sorry , it was a copy-paste error.
I wanted to ask where I could find the explanation of FB.
  • #1,687
  • Edited Aug 30, 2010 12:06am Aug 29, 2010 11:41pm | Edited Aug 30, 2010 12:06am
Quoting jdcabona
Sorry , it was a copy-paste error.
I wanted to ask where I could find the explanation of FB.
JD if that is your question then I now will have to say. . .you should consider reading more of the thread. Now to answer your question - an FB (Flying Budda) would be a time frame bar that opens and closes completely above or below the 5 moving average. It is an example of a potential reversal 'signal' on a higher TF so you may form a bias on which to enter the market using lower TF.



Dan
  • #1,688
  • Aug 29, 2010 11:41pm Aug 29, 2010 11:41pm
In spite of daily and 4 hr candle. Not sure why; has this happened to you?

I have couple of long positions at 1.2735 with 10 pips SL

Will see

Regards,
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,689
  • Edited 11:50pm Aug 29, 2010 11:45pm | Edited 11:50pm
Quoting ozziedave
It's possible the yen pairs may retrace upto 50% of the weekly pin bars before they attempt another up move. Even though the USDJPY and EURJPY are in a downtrend the weekly pin bars and the fact they are FBs with the threat of BOJ intervention makes me very hesitant about taking short positions. I may wait until the weekly pin bars are broken to the downside before I think about shorting these pairs.

Again, just my opinion for what it's worth.
I am thinking along the same lines Ozzie. Too much going on in the news to affect JPY pairs. I would probably wait for daily candle to close below Friday's close before going 'counter-hindsight'. Attaching my trades for today... was quick to cut my loses

- Vee

Edit: Big mistake to double my position size to 40 lots @ 109.03!!! I was anticipating this to be just '00' level retrace.
Attached Image
Staying in my lane...
  • #1,690
  • Aug 30, 2010 12:19am Aug 30, 2010 12:19am
Quoting ozziedave
I know every one is waiting for Graeme's posts so I thought I'd show you how one might apply what Graeme has taught us.

Ok, so we start by determining the last weekly FB on the EURUSD. If you go back a few weeks you'll notice the last weekly FB was the week of 2 Aug to 6 Aug. Also notice this was an FB above the EMAs so we would be looking for trading opportunities on the short side. Now let's break this down into a real simple entry that every one can understand and combine it with a small enough time frame that almost every one can trade with...

Excellent work Dave.

I see 20 trades in total right? So how many BEs and how Losses out of it. I couldn't count on the graph

Thanks
TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,691
  • Aug 30, 2010 12:26am Aug 30, 2010 12:26am
Quoting jdcabona
Sorry , it was a copy-paste error.
I wanted to ask where I could find the explanation of FB.
Hi jdcabona,

You will find the explanations on FB from this page onwards.

http://www.forexfactory.com/showthre...83#post3947683

However, a friendly advise to new readers would be to read the thread from the start so you will reap the full benefits of the lessons within. Graeme has put in a lot of hard work in this thread and reveal much. It is now the responsibility of readers to educate themselves from the material within and it starts from reading it from page one. There are no shortcuts .

Bak
  • #1,692
  • Aug 30, 2010 12:37am Aug 30, 2010 12:37am
Master Graeme:

i remember somewhere back in the thread, it was mentioned, the candle has to be lower than 5ema, AND 5ema has to be lower than 10 ema, so that a FB is valid.

this EU weekly FB does not seem significant to me (not quite long-like), because

1. 5ema is higher than 10ema, and merged now...
2. candle body is too small

well, could you please comment if 5ema and 10ema's positions matter?

thanks a lot.

Quoting pipEASY
Good evening, Dave

Apologies. You are correct, I should have clearly indicated that last week candle is a FB.

My analysis still remains the same and I too will look for breakouts in either direction.

Graeme
  • #1,693
  • Aug 30, 2010 1:55am Aug 30, 2010 1:55am
Good morning from uk its 7:45 am.
Had coffee,and sugar puffs. Quick read of news,print out weekly news calender from front page.submitted my assessment to greame.

Could i ask a small favour when you post about your trades can you put on top line the pair.
sometimes i read posts an not sure which pair it is the post is refering to.
Ok think am ready now
mirror, indicate, manouver lol.
making green pips large and red pips small this is my goal.
  • #1,694
  • Aug 30, 2010 2:02am Aug 30, 2010 2:02am
Quoting Bakuli
Hi jdcabona,

You will find the explanations on FB from this page onwards.

http://www.forexfactory.com/showthre...83#post3947683

However, a friendly advise to new readers would be to read the thread from the start so you will reap the full benefits of the lessons within. Graeme has put in a lot of hard work in this thread and reveal much. It is now the responsibility of readers to educate themselves from the material within and it starts from reading it from page one. There are no shortcuts .

Bak
One of the thread members has posted a link to a file containing the main posts to cut out the small talk. Its a few pages back. If anyone got the link handy could you post please.
making green pips large and red pips small this is my goal.
  • #1,695
  • Aug 30, 2010 2:05am Aug 30, 2010 2:05am
Quoting TradeStar
In spite of daily and 4 hr candle. Not sure why; has this happened to you?

I have couple of long positions at 1.2735 with 10 pips SL

Will see

Regards,
TS
Closed all longs at BE. Being stubborn like this I missed putting on Short positions, in spite of seeing 3 wicks in 5 min chart.
Well, it's going to take a while to learn to be nimble !!!

TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,696
  • Edited 2:35am Aug 30, 2010 2:23am | Edited 2:35am
Quoting TradeStar
Closed all longs at BE. Being stubborn like this I missed putting on Short positions, in spite of seeing 3 wicks in 5 min chart.
Well, it's going to take a while to learn to be nimble !!!

TradeStar
TS,

Originally indicated hindsight Long. Current flow is indicating short so going with the near term trend as soldiers.

9 buy losses
10 sell losses

6 sell positions since 1.2741
5 currently surviving @ BE stacking
1 closed at +5 pips to grow equity when stall was noted at 1.2714

Nearing net recovered from starting capital

I have setup 2 instances from IBFX; trading one as short only and one as long only to get around the non-hedging issue and to assess if I am similar to Joe in that Short positions fare better than Long positions/mentality.

RDWatkins

edit: note that the 1.2726 area that once was support has now become resistance. additionally, 50% retrace down from 1.2746 is providing some resistance as well. Anticipating FB to form next candle and then push downward?
  • #1,697
  • Aug 30, 2010 2:28am Aug 30, 2010 2:28am
Quoting paul1
One of the thread members has posted a link to a file containing the main posts to cut out the small talk. Its a few pages back. If anyone got the link handy could you post please.

here you`ll find them:

http://www.forexfactory.com/showpost...postcount=1527

Kind Regards and thanks to flyer for his work

Forex37
  • #1,698
  • Aug 30, 2010 2:53am Aug 30, 2010 2:53am
Quoting rdwatkins
TS,

Originally indicated hindsight Long. Current flow is indicating short so going with the near term trend as soldiers.

9 buy losses
10 sell losses

6 sell positions since 1.2741
5 currently surviving @ BE stacking
1 closed at +5 pips to grow equity when stall was noted at 1.2714

Nearing net recovered from starting capital

I have setup 2 instances from IBFX; trading one as short only and one as long only to get around the non-hedging issue and to assess if I am similar to Joe in that Short positions fare better than Long positions/mentality.

RDWatkins

edit:...
Excellent execution Watkins. Getting ready to place orders both ways requires a skill, I guess.

TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #1,699
  • Aug 30, 2010 3:09am Aug 30, 2010 3:09am
Quoting Forex37
here you`ll find them:

http://www.forexfactory.com/showpost...postcount=1527

Kind Regards and thanks to flyer for his work

Forex37
Thankyou forex37 and flyer.
if i new how i'd do that upto graeme's last posts because we have i think got all the pieces now.
Cannot honestly see it getting better than" stopping time" lol.
But graeme never stops surprising me.
making green pips large and red pips small this is my goal.
  • #1,700
  • Aug 30, 2010 4:05am Aug 30, 2010 4:05am
Hi guys!

I was lurking in this thread from the start..and now I've decided to join Graeme's 2 weeks project...

I'm working on demo with EURJPY and this is my plan:

Pair: EURJPY

Realistic expectation: Weekly chart. 100+ pips minimum

Hindsight: Up, reversal after Flying Buddha / Pin Bar

Analysis: Last week was a typical reversal pattern. Good Pin Bar at a swing low. The week closed nearly the open price so this can be an indication that sellers are going away and new buyers are coming.

Anticipate: Price is opening at the high of the Pin Bar. If there is a retrace I'm expecting it to reach the 50% of the Pin Bar...the level coincides to the minimum of the 27 June weekly candle so it may be a good level. I will be flexible anyway because price may retrace more...or may not retrace and may instead break hard the high of the Pin Bar. I will watch closely Daily, 1H and 5 minutes in order to find some good entry level.
I give this 7 out of 10 for a bold candle up.


The following images are my first trades:

Trade 1: volatility breakout after sunday session open, I was late and trade closed for -11 pips

Trade 2: another try after a retracement, 5M flying buddha, trade closed at BE

Trade 3: 4H and 1H are still short but I was trying to anticipate, 5M flying buddha ona a 1H support, trade still opened, risk 14 pips. I think it will close as a loss...

My risk is a little bit over 10 pips but with a JPY pair and a 3 pips spread is the best I can do..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ej_01(-11pips).gif Size: 11 KB
Click to Enlarge Name: ej_02(breakeven).gif Size: 13 KB
Click to Enlarge Name: ej_03.gif Size: 11 KB
Market is like a puzzle, YOU have to fit the pieces!!
5 traders viewing now