Building an equity millipede | Page 110 | 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

  • #2,181
  • Sep 9, 2010 9:00am Sep 9, 2010 9:00am
Quoting pipEASY
Good evening, all

Just a quick message from myself.

Earlier on, I promised to post some charts to further clarify FBs.

Unfortunately I was too strung out to make out to my desktop tonight. Hope this doesnt sound like an excuse.

Without any notion of ignoring any responsibilities, I ask for your understanding.

Im also still answering many PMs.

Sincerely,

Graeme

P.S Geoff - I would like to work closer with you as you only need a small nudge towards the right direction. Thank you.

P.PS - Trust me when I say that...
Only a humble soul could view this as a 'responsibility' instead of doing us all a huge favor. My dad always used to say "Take care of your health and happiness will follow". What we have going in this thread is going to last for a very long time so please take a break and recover
Staying in my lane...
  • #2,182
  • Sep 9, 2010 9:13am Sep 9, 2010 9:13am
Quoting zebulon
Unfortunately, i was not on my computer for this entry at 1.0135, but as says Graeme, the market will give plenty of opportunities.

Let's zoom on 15 min to find another good entry.
The break at 1.0153 gave me the opportunitie to go long, maybe for a huge movement, maybe for a little loss.
I will let the market doing his job, and i will come back later, i hope to move my SL to BE.
failed, SL hit !

Price has retraced to 1.01, but not below. I keep an eye on this pair and looking around for other opportunities.
  • #2,183
  • Sep 9, 2010 9:56am Sep 9, 2010 9:56am
Quoting VEEFX
Hi Tommbstone,
2 trading platforms with two screens will only work with two separate trading accounts and some trading platforms won't let you run twice on the same computer. There is no charting software I know that will organize your trades based on timeframe they were taken....
I just discovered another way to 'group' trades by each timeframe. Instead of using same position size (like Marion) across all TFs, one could use 2 lots in 4H, 1 lot in 1H and 0.5 lot in 15M TF and then sort open position window in your trading platform by date/time column. This could affect the outcome in terms of overall performance but also a little better (I think!) in minimizing risk/drawdown as 15M positions would whipsaw more often than 1H and 4H positions.
Staying in my lane...
  • #2,184
  • Sep 9, 2010 10:13am Sep 9, 2010 10:13am
Finally finished this thread, not sure when i will be able to participate fully however i would like to give my basic interpretation. Entry and Participation is the key ... the you can master the 20/20 exercise along with the .00 exercise you can build a nice retirement fund. Note, the .00 exercise is about participation, 20/20 is about entry. Now imagine doing this for 5-10 pairs/day. I have read about position trading, read about let you profit runs, read about candle interpretation, read about breakouts .... but this is the most complete methodology yet. Really like the hindsight idea. After 4 years on and off, I have no excuse if 6mths - 1yr down the line i am not profitable.

Greame, not sure what brought you to this forum ... but glad that you are here.

I am in no way taking anything from other great thread starters here, i guess this is just another way of doing. Again, participation, whether in the markets or in the forum is key.
  • #2,185
  • Sep 9, 2010 10:47am Sep 9, 2010 10:47am
Quoting zebulon
Unfortunately, i was not on my computer for this entry at 1.0135, but as says Graeme, the market will give plenty of opportunities.

Let's zoom on 15 min to find another good entry.
The break at 1.0153 gave me the opportunitie to go long, maybe for a huge movement, maybe for a little loss.
I will let the market doing his job, and i will come back later, i hope to move my SL to BE.
Been long the USDCHF with a 1.0100 cost basis. Think it will have some legs? Went as high as 1.0166 while I was sleeping.
  • #2,186
  • Sep 9, 2010 10:52am Sep 9, 2010 10:52am
Quoting johnsund
tfxtrader asked: "Looks like it was worth about 40 pips or so. Is that enough profit for you? Or are you trying to grow legs?"

At this point I am not trying to grow legs - only improve entry skills using the 00 cross as a guide. In the case of USD/CHF entry at 1.0100 I would have been stopped out for -100 since price did not reach 1.000 and the automatic TP at 100 pips in MB Navigator.

The exercise calls for growing legs one to 2 weeks after entering several 00 crosses and being successful with them. Hope this answers your question.
JOHNSUND, didn't you let a winner turn into a loser? At 100:1, you gave back a 40% return on your money.
  • #2,187
  • Sep 9, 2010 10:55am Sep 9, 2010 10:55am
I was just looking at the 4hr EURUSD chart and I happened to zoom out and noticed something that I might not have noticed if I would have left my chart zoomed in.

First chart is my typical view and sometimes I have it zoomed in closer so I can see the price action.

Second chart I have zoomed way out so you can see a good 6 months of price action. One thing that I've started to do is go back and look for the last weekly FB and mark that week with an indigo rectangle, if the price action moves, in this case, below the weekly FB then I should be looking for areas to short. That's not what this chart is about what I wanted to point out is with the chart zoomed out you can plainly see that the Eur has been in a ranging market about the last 5 weeks.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 4hr wfb 09.09.10.gif Size: 40 KB
Click to Enlarge Name: eurusd 4hr wfb zomed out 09.09.10.gif Size: 41 KB
  • #2,188
  • Sep 9, 2010 11:07am Sep 9, 2010 11:07am
Graeme,
it would be possible to have Marion (alias Joe) or you or someone who understand completely his method (Veefx ?) to open another thread where we can talk about his strategy moore deeply ?
I'm very interested to code some tools at least to open positions based on Marion's strategy then it will be up to the trader to manage them but I don't want to mess this thread!

Cheers,
Giacomo
  • #2,189
  • Sep 9, 2010 11:24am Sep 9, 2010 11:24am
Quoting tjfxtrader
Been long the USDCHF with a 1.0100 cost basis. Think it will have some legs? Went as high as 1.0166 while I was sleeping.
good ! We will see if we have some legs
  • #2,190
  • Sep 9, 2010 11:48am Sep 9, 2010 11:48am
My Money Management.

0.1 minilot per $100 account balance.

0.1 minilot times 100 pips is $10 or 10% return. ( Soon to be $5 in the USA )
  • #2,191
  • Sep 9, 2010 11:56am Sep 9, 2010 11:56am
tfxtrader - yes I did. Like a DUMMY.
  • #2,192
  • Sep 9, 2010 12:03pm Sep 9, 2010 12:03pm
Quoting skyline
Graeme,
it would be possible to have Marion (alias Joe) or you or someone who understand completely his method (Veefx ?) to open another thread where we can talk about his strategy moore deeply ?
I'm very interested to code some tools at least to open positions based on Marion's strategy then it will be up to the trader to manage them but I don't want to mess this thread!

Cheers,
Giacomo
Good idea skyline but perhaps a bit premature at this point IMHO. I think I/we have all the details nailed down to create a more logic-driven/robust/pseudo-mechanical trading plan out of this strategy and then practice as per it's rules. My list of questions continues to grow after another round of firsthand practice this morning :-)

For now, I personally want to leverage Graeme's effort to focus on (1) getting this 100% baked on paper and in my head first (2) Practice and prove to myself that this viable strategy fits my personality and that I am successful in limiting risk, reducing drawdowns, keeping the equity curve smooth etc.
It would just bring a lot of distraction to this thread if we don't go though the process of learning via practice. We also don't know what Graeme has left in his bag of 'infinite wisdom' yet to share with all of us.

Hope I am not offending anyone.

Best Regards,

-Vee
Staying in my lane...
  • #2,193
  • Sep 9, 2010 12:12pm Sep 9, 2010 12:12pm
Quoting tjfxtrader
0.1 minilot times 100 pips is $10 or 10% return. ( Soon to be $5 in the USA )
tjfxtrader,

The soon-to-be-implemented 50:1 leverage cap won't affect the value per pip, just the margin requirement. Current 100:1 margin for a mini lot is $100 ($10 on micro lot) on USDXXX crosses. That will go up to $200 ($20 on micro lot) on 10/18. However, value per pip will not change and the number of lots per position a trader can trade will still be at the mercy of account balance (now reduced due to reduced leverage) and broker's policy.

If I misunderstood your comment 'Soon to be $5 in the USA,' please disregard this post, but I took it to be suggesting that pip value will be halved as a result of the new rule, and that's not correct.

Kevin
  • #2,194
  • Sep 9, 2010 12:25pm Sep 9, 2010 12:25pm
Quoting Starvin4Pips
tjfxtrader,

The soon-to-be-implemented 50:1 leverage cap won't affect the value per pip, just the margin requirement. Current 100:1 margin for a mini lot is $100 ($10 on micro lot) on USDXXX crosses. That will go up to $200 ($20 on micro lot) on 10/18. However, value per pip will not change and the number of lots per position a trader can trade will still be at the mercy of account balance (now reduced due to reduced leverage) and broker's policy.

If I misunderstood your comment 'Soon to be $5 in the USA,' please disregard this post, but...
I think he meant value of USD to drop by 50%. Thanks to Uncle Ben, it could happen
Staying in my lane...
  • #2,195
  • Sep 9, 2010 12:27pm Sep 9, 2010 12:27pm
Quoting Starvin4Pips
tjfxtrader,

The soon-to-be-implemented 50:1 leverage cap won't affect the value per pip, just the margin requirement. Current 100:1 margin for a mini lot is $100 ($10 on micro lot) on USDXXX crosses. That will go up to $200 ($20 on micro lot) on 10/18. However, value per pip will not change and the number of lots per position a trader can trade will still be at the mercy of account balance (now reduced due to reduced leverage) and broker's policy.

If I misunderstood your comment 'Soon to be $5 in the USA,' please disregard this post, but I took...
It appears I made a mistake when I typed. Thank you for catching it, Kevin. My point was the reduced leverage will reduce your percent return on your account balance.
  • #2,196
  • Sep 9, 2010 12:40pm Sep 9, 2010 12:40pm
Here is something that may help with the trading approach being discussed here. It shows multiple pairs and multiple timeframes when a flying buddah has formed. You can add and delete timeframes and add and delete which pairs to observe.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf 09 09 10.gif Size: 15 KB
  • #2,197
  • Sep 9, 2010 12:44pm Sep 9, 2010 12:44pm
Quoting tjfxtrader
It appears I made a mistake when I typed. Thank you for catching it, Kevin. My point was the reduced leverage will reduce your percent return on your account balance.
If you require more than 50:1 to get the 'theoretical' return you want you are probably not exercising proper money management for the amount of capital you have IMHO.

I have heard all the arguments for higher leverage and it all comes back to poor money management and under capitalization. That includes the argument to keep the majority of trading money elsewhere on standby where it can earn interest. If you are properly capitalized that should not be much of an issue.

Oanda is already 50:1 and a lot of the serious traders on this site use them. That should tell you something. Just my opinion.
  • #2,198
  • Sep 9, 2010 12:53pm Sep 9, 2010 12:53pm
50:1 leverage is MORE than you need. Sheesh.
  • #2,199
  • Sep 9, 2010 4:16pm Sep 9, 2010 4:16pm
The EURJPY came close to its yearly low but didn't break it. A 23% fibonacci retrace would occur at 112.36 and a 38% retrace at 116.47. My entry at 106 would have some huge legs at either of those levels. From this point on it is just a matter of time.

http://i56.tinypic.com/108bb55.gif
  • #2,200
  • Sep 9, 2010 4:50pm Sep 9, 2010 4:50pm
Quoting johnsund
Here is something that may help with the trading approach being discussed here. It shows multiple pairs and multiple timeframes when a flying buddah has formed. You can add and delete timeframes and add and delete which pairs to observe.
Hi johnsund,

Can you post the mql file for the indicator?

Thanks
9 traders viewing now