Building an equity millipede | Page 135 | 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

  • #2,681
  • Sep 22, 2010 3:00am Sep 22, 2010 3:00am
Quoting Accumulation
Update +49 pips
Out +60 pips, thank you EASY for sharing the hindsight entry method, getting a handle on it.
  • #2,682
  • Sep 22, 2010 3:01am Sep 22, 2010 3:01am
Quoting pipEASY
Just before VEEFX takes control again something important has come up.

Cameron1st has just hinted this which also happened when I was helping Marion.

What makes most of you think usdjpy 4hr/1hr is currently too late...?

I would sincerely like to know why.
Hi Graeme,

I'm anticipating usd/jpy to go sharp down or down at least and IMHO it's not too late to make a short trade... as what you always teaching us for a 50% retrace.

so i'm waiting for a retrace of more or less 50% on 4h/1h window.

regrads,

actually i am already in @ 84.90 x 1 position (0.1 lot) just to feel the market
Success consists of going from failure to failure without loss of enthusiam
  • #2,683
  • Sep 22, 2010 3:04am Sep 22, 2010 3:04am
Quoting VEEFX
Just took a short position at 50% of M15 candle
On U/J H4 there is a FB and candles with small body indicating price would go up (at least for a short while).
  • #2,684
  • Sep 22, 2010 3:05am Sep 22, 2010 3:05am
Quoting pipEASY
Just before VEEFX takes control again something important has come up.

Cameron1st has just hinted this which also happened when I was helping Marion.

What makes most of you think usdjpy 4hr/1hr is currently too late...?

I would sincerely like to know why.
Hi Graeme,

Thank you for sharing and trying to inpart some knowledge to us.

I think we are not too late on the UJ is because of the strong up candle last week, then for the next 4 days the bulls could not push it up any higher and in fact the bears were pushing just as hard, evidence by the 2 small body candles. Then yesterday we had the volitile break to the downside with very little wick below the body, showing the bears were in firm control. Today's candle just continue with the monentum (no upper wick). So the train is rolling down hill with no brakes on.
  • #2,685
  • Sep 22, 2010 3:10am Sep 22, 2010 3:10am
Quoting thx1139
You appear to be trading the 'anticipation' when you should be waiting for a confirmation (trigger) first. Whatever you decide the confirmation should be. 50% fib retrace or breaking s/r of previous candle or ?
Ok... I posted my last entry on 50% FIB of M15 candle. Now that a new H1 candle is formed, my entry is still at 50% of the previous H1 candle as in the image below
Attached Image


I think, early entries is also relative to scale. I could have a valid entry confirmation on lower TF and yet appear to arrive 'early' on higher TF. Graeme mentioned H4 is our profit ground. To me, that means we anticipate the direction and interpret PA on H4 and then look for entries in lower TF.

I guess, we all will be on the same page in regards to early entries if we agree on which TF we should be taking entries??? Otherwise, 'early entries' is a relative term and is simply associated with scale imho.

Graeme - Just trying to prevent THIRD occurrence of the same mistake so need further clarity on this please.
Staying in my lane...
  • #2,686
  • Sep 22, 2010 3:12am Sep 22, 2010 3:12am
Quoting fxtrader2k7
Hi Graeme,

Thank you for sharing and trying to inpart some knowledge to us.

I think we are not too late on the UJ is because of the strong up candle last week, then for the next 4 days the bulls could not push it up any higher and in fact the bears were pushing just as hard, evidence by the 2 small body candles. Then yesterday we had the volitile break to the downside with very little wick below the body, showing the bears were in firm control. Today's candle just continue with the monentum (no upper wick). So the train is rolling down hill...
Correct. And 4hr price movement has broken every support buyers managed to create.

Movement like that just doesnt disappear.

FB? Daily chart is FB + a volatile breakout

You would be worried when price tests a new support and struggles to break it.

At the moment its either 1 or 2 -10 pips or few hundreds/thousands pips profit.

In regards, to JPY intervention. That is nothing new. It happens more times than it is publically announced. It makes the japanese goods more attractive when lowering the yen and then tempered to make imports cheap. BOJ tries its best for the benefit of the countrys trade requirements. In other words you wont see long sharp bold candles magically happen when someone from BOJ pushes a button. That announcement has no intrinsic value to consider.

Let us all look forward to VEEFX next trades.

Sincerely,

Graeme
  • #2,687
  • Sep 22, 2010 3:14am Sep 22, 2010 3:14am
Quoting Accumulation
Out +60 pips, thank you EASY for sharing the hindsight entry method, getting a handle on it.
I thought that you should have left this as a 'leg' instead of closing it.
That is the whole point of this thread, isn't it?

But of course you are right this time, as mine just closed BE.
  • #2,688
  • Sep 22, 2010 3:20am Sep 22, 2010 3:20am
Quoting pipEASY
FB? Daily chart is FB + a volatile breakout
Sorry, when I said FB on H4 this is what I meant... obviously not the right call.
Attached Image
  • #2,689
  • Sep 22, 2010 3:32am Sep 22, 2010 3:32am
Sorry about the black background.

My short looking at U/J, M15. Entered at 84.84. SL at 85.03
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 43 KB
  • #2,690
  • Sep 22, 2010 3:39am Sep 22, 2010 3:39am
Quoting pipEASY
Correct. And 4hr price movement has broken every support buyers managed to create.

Movement like that just doesnt disappear.

FB? Daily chart is FB + a volatile breakout

You would be worried when price tests a new support and struggles to break it.

At the moment its either 1 or 2 -10 pips or few hundreds/thousands pips profit.
OK (i am learning )


Quoting pipEASY
In regards, to JPY intervention. That is nothing new. It happens more times than it is publically announced. It makes the japanese goods more attractive when lowering the yen and then tempered to make imports cheap. BOJ tries its best for the benefit of the countrys trade requirements. In other words you wont see long sharp bold candles magically happen when someone from BOJ pushes a button. That announcement has no intrinsic value to consider.

Let us all look forward to VEEFX next trades.

Sincerely,

Graeme
I shouldn't have brought it up
Agreed to move forward

Cheers
  • #2,691
  • Sep 22, 2010 4:12am Sep 22, 2010 4:12am
Update: going 20+ pips strong
Attached Image (click to enlarge)
Click to Enlarge Name: SnapShot035 2010-09-22.jpg Size: 253 KB
Staying in my lane...
  • #2,692
  • Sep 22, 2010 4:14am Sep 22, 2010 4:14am
Graeme

I am still watching GBP/CAD.

Per your advise, I think "waiting" is good

If the next (3rd/4th) candle closes below 2nd candle
then a call for short is more appropriate?

I see 2nd candle is bearish engulf and closed below the white (1st) candle.
This met your criteria?

I am not sure should I go down 5M to make entry?
The reason is I am very nervous in lower time frame

Your comment on the above is appreciated.

Thanks and Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: z g-cad.gif Size: 22 KB
  • #2,693
  • Sep 22, 2010 4:14am Sep 22, 2010 4:14am
Quoting VEEFX
Update: going 20+ pips strong
Superb.

Great work.

Please join me to pass on our gratitude to VEEFX.

Currently it is very late for VEEFX in his timezone.

I admit that I have half forced VEEFX into usdjpy and I will continue to let him trade more and more and more on its own.

I hope VEEFX and others are learning together live.

If yesterday lesson was about 'respecting the hindsight of the higher timeframe' then today is ?
  • #2,694
  • Sep 22, 2010 4:22am Sep 22, 2010 4:22am
Quoting pipEASY
Superb.

Great work.

Please join me to pass on our gratitude to VEEFX.

Currently it is very late for VEEFX in his timezone.

I admit that I have half forced VEEFX into usdjpy and I will continue to let him trade more and more and more on its own.

I hope VEEFX and others are learning together live.

If yesterday lesson was about 'respecting the hindsight of the higher timeframe' then today is ?
YES!
I do appreciate both your times and guidance, Graeme & Veefx.

Cheers
  • #2,695
  • Sep 22, 2010 4:27am Sep 22, 2010 4:27am
Quoting pipEASY
If yesterday lesson was about 'respecting the hindsight of the higher timeframe' then today is ?
Uhm.. we are never late in Forex market, always early ?

Also, thank you very much Graeme and Vee for the lessons.
  • #2,696
  • Sep 22, 2010 4:30am Sep 22, 2010 4:30am
Quoting VEEFX
Update: going 20+ pips strong
Moved 1st position to breakeven and took another trade at 50% FIB of current H1 candle which also happens to be at 50% FIB of M15 candle. Let's see if these two survive overnight. It's 2:28am pacific. Time to catch some sleep.
Attached Image (click to enlarge)
Click to Enlarge Name: SnapShot036 2010-09-22.jpg Size: 259 KB
Staying in my lane...
  • #2,697
  • Sep 22, 2010 4:40am Sep 22, 2010 4:40am
To all readers,

Thank you for your participation today.

Today we have discussed some very important topics.

It is selecting your pairs.

VEEFX has chosen gbpcad near london open, and Im sure he has valid reasons.

However, there are pairs that are moving 'nicely' and there are pairs that are 'nasty.' And it very simple to tell.

Also answering tradpat while continuing to explain.

gbpcad had a messy price action. Too messy with long wicks everywhere.

gbpcad 4hr

http://img251.imageshack.us/img251/2...10100143pm.png

now compare to usdjpy 4hr

http://img818.imageshack.us/img818/8937/aa2x.png

Can you feel/see the difference. Its so much cleaner with 50% fib retrace everywhere and most importantly none of the up candle closes above the open price of down candle. Nice smooth sail.

Now I know why alot of traders thought it was too late. They have just seen a large movement of 50+ pips and think large part of profit is already taken. But its the opposite and Cam said it right. You are never late but always too early.

I assure all traders a large clean movement that is volatile is not going to stop suddenly just because you have finally arrived on the scene. It will most likely continue on or at the very worst stall. Either case its a win win situation.

Now usdjpy 1hr is looking like this

http://img828.imageshack.us/img828/2...10100143pm.png

Nice and easy trade today. Moved stop loss to breakeven and its over for that one.

There are many many pairs of currency. I have over 20 on my platform. Always trade the pair that is moving for you and there are always a better pair to trade.

I will leave it here for today and continue tomorrow 2 hours before london open again with VEEFX.

Well done everyone

Sincerely,

Graeme
  • #2,698
  • Sep 22, 2010 4:47am Sep 22, 2010 4:47am
Quoting pipEASY
To all readers,

Thank you for your participation today.

Today we have discussed some very important topics.

It is selecting your pairs.

VEEFX has chosen gbpcad near london open, and Im sure he has valid reasons.

However, there are pairs that are moving 'nicely' and there are pairs that are 'nasty.' And it very simple to tell.

Also answering tradpat while continuing to explain.

gbpcad had a messy price action. Too messy with long wicks everywhere.

gbpcad 4hr

http://img251.imageshack.us/img251/2...10100143pm.png...
Thanks Graeme for your help and guidance tonight. Excellent explanation on how to choose a pair. I certainly will be applying this concept in choosing tomorrow's pair.

Have a good night everyone and thanks for your patience in following my trade setups.

See you all tomorrow same place same time :-
Staying in my lane...
  • #2,699
  • Sep 22, 2010 4:53am Sep 22, 2010 4:53am
Hello Graeme,

I have a question. Since you are looking at 20 pairs.... how many monitors do you use ?? I'm asking because I have three but sometimes I think I want more like 10. I like to see everything in front of me so I can compare them all side by side.

Thank you, by the way, for the thread and all of your tireless work. I have certainly picked up some new gems in here. In fact... I used to not look at GBP/AUD and GBP/CHF... figuring that I already have enough to watch with 4 or 6 pairs. Now I can see that they are great pairs to trade.

But I'd love to add a few more monitors and was curious how many you use.
  • #2,700
  • Sep 22, 2010 4:58am Sep 22, 2010 4:58am
Quoting pipEASY
But its the opposite and Cam said it right. You are never late but always too early.
Thank you Graeme, but to set the records straight, you said it in one of the previous posts and I only remembered what you wrote and usually use it when I trade, but for U/J I just couldn't see it before you enlightened us.

Kindest Regards,

Cam
7 traders viewing now