Building an equity millipede

Hi Songbo,
Thanks for your indicator.
Would it be possible to have it as MTF?

Dilip

Hello,
Does anyone have an indicator which shows the candle position (up or down) for the various time frame. I have one attached but this shows the macd, schochastic and ema. Hope somebody can help.

Thanks,
chonghm

Look for the candlecolor multimeter.

Paul, I use MB Trading, but I haven't noticed that before. That being said, up until recently I've not been in the habit of having more than one position open on a pair at a time, so it wouldn't have come up 'til now. However, I did have several positions open last week (on demo account) on a single pair and did not notice any averaging taking place. I'll pay attention to it more closely now that you've brought it up and let you know what I find out over the next couple of days.

Kevin

50% fib of previous M5 candle. Goal should be to get SL on first position to BE before entering another to limit risk exposure to just the most recent position entered. Keep adding positions (as opportunities present) every 10-15 pips or so until you get one stopped out for a loss, then stop adding. Have to admit, this is all easier said than done, but should get easier with practice (at least, that's what I'm hoping). Somewhere a ways back, Graeme goes over this in great detail. I believe it was around the area where he introduced us to "Joe" and the flying buddha strategy.

Kevin

Cheers m8 let us know as i am new to mbtrading and its first live account.(still on demp at moment just need to know before placing live trades

Had 10 positions on 200 pip leg wen i closed some the others that were left were in the red .
the 5 i took off should have been the last 5 near end of move so i could leave the ones that were likely to survive on but dont think its possible.
got an e-mail to them at moment.

On live i want scale in with micro lots till am more confident.

Thank you Starvin4pips. It helps a lot.
Mel

I'll be curious to hear their response.

That's my plan as well.

Kevin

Thanks, tjfxtrader. Found the indicator.

chonghm

No problem.

Update to eurjpy trade.

http://i33.tinypic.com/9u0ymr.gif

The red line is the highest low of past price action.

Perfect Songbo. Just what I was looking for.

Thanks

Hey Paul,

I just took a series of test trades on my MBT demo account and can confirm that there is NO averaging taking place at my end, regardless of which order I remove positions. Hopefully, the good folks at MBT will help you get to the bottom of it.

Kevin

Hi Fugly,

I don't think Graeme or Joe enters a position just because they see a FB. What I did was in an up trend I called the FB a No Trade if price didn't break the low of the FB candle and when in down trend if the price doesn't break the high of the FB candle.

http://gyazo.com/bff11e3b0c7cc142274d4f9e2a6da7ad.png

T_T really, sometimes i think long and hard about moving to Australia or China, not only can i trade at the right times but i can be closer to wisdommm!!!

do you use the price ladder?
when i add positions it shows on the ladder the average entry price and on the p/l dispay based on the average.
can you exit individual entries.
Also in the commissions tab what figure you put in i used 2.95/100000 but the figures in the p/l come out at 59000 per 10000 lot lol

Are you using MT4 platform? Or are you using MBT Desktop? I'm guessing it's the latter. I'm using MT4 and don't have anything called a 'price ladder' that I'm aware of. And, yes, I can exit any individual positions with no problem. Also, the commission price calculates automatically for me on MT4. I don't have the ability to enter it anywhere, it's just appears in my 'Commission' column.

Kevin

ok thanks kevin I've been using ninja trader platform so i should be able to exit individual positions if you can.

Hello all,

I have finally read through the entire thread. I just happened to stumble on this last Tuesday. I have been reading much of the day and evening since to catch up. I am a member of FF but I don't come here much at all. This is only the third thread I have read through completely in two years. Like many I started my trading experiment scalping on the 1M. From influence from the James16 thread I started looking at the daily, for the last year or so. I have not gone to live trading yet because I want to feel like I can actually do what I'm starting to understand.

But I have to say thanks to Graeme. This is the most complete and in depth exploration into the thought process of trading market action I have ever come across. It just makes sense. And that is what has kept me reading through all of these pages. I think the reason a couple people have had trouble grasping what is being presented is they are used to seeing a system that tells you what to do when. But that is not how things work, not only trading but many things in life. We have to learn to see what is happening and go with it. The market behaves like a living organism. Systems that are cut and dried only work on the past of the chart, which is dead.

I am a voice trainer and much of what I read from Graeme is similar to what I have found necessary when teaching someone how to use their voice. You first have to understand the behavior of what you are dealing with. Then you can learn to go along with it. Most people just want the answer. But even if you get the answer it won't help. That is where the belief that there is some kind of secret originates. You have to discover the experience yourself in order to see the truth of what is happening.

That is why I think what is presented here is the perfect system. Because it is NOT a system per se. It is how to actually see and "hear" what the market is telling you. Much like I try to guide people to "hear" what their body is telling them when they use their voice, and then take that feedback to improve. It doesn't happen quickly. It is a gradual process. Much slower than we would hope.

I am starting to see the market as a foreign language of sorts. We need to learn to understand this language in real time. Just like learning French or Italian. (For us English speakers) Many ask why more people don't learn a foreign language, even though many would like to. The simple answer is IT IS HARD. It's not easy and takes time. Our brains just don't have the pliability they did when we were young. And market action is just the same, it is a foreign language. And we must learn to understand it if we hope to be consistently profitable over the long term.

Someone criticized Graeme for all of his examples being after the fact. What do you expect? That is how we learn, initially. Then we move into real-time, looking at both as we go along. Same as with a language. We read texts designed to help us grasp the basics and gradually move into simple conversations. If we just dropped ourselves into the outreaches of a foreign country we would be very frustrated because the language would be unintelligible. Much like the market when we first look at a chart. It just goes by too quickly if we don't know what we are listening for. When we know what to look/listen for we can have a fluid conversation. Either with a person speaking or with the market on a lower time frame.

I guess this is a long introduction. Sorry. Hopefully we all can learn the language of the market and become fluent. Then it will just be a matter of listening and letting it tell us what to do. Thank you again Graeme, and to all of you participating and making it worthwhile to him.

Michael

Today I've made 5 attempts with eurjpy:

1 loss (15 pips)
3 Breakeven
1 still surviving for the moment...

If this position goes stopped I will start to doubt my weekly hindsight...

Sorry guys, this might be a dumb question...

... but when we're talking about those 50% Fib levels, do we calculate that 50% level from the high and low of the BODY of the previous candle or do we include eventuell wicks as well in that calculation?