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Building an equity millipede

  • #2,721
  • Edited 10:15am Sep 22, 2010 9:54am | Edited 10:15am
Quoting VEEFX
Preparing myself to move my 3rd position to BE and take my 4th and final position. Anticipation: Price will touch 84.'00' level and bounce upwards ending with an sharp green engulf H1 candle.

EDIT: My account balance is back to starting balance of $5000. Fighting my old habit of closing out all trades to net out on my account balance. Should I ?

EDIT2: Big sellers are still going strong. No long wicks on either side of the past 8-12 H1 candles
Retest of daily descending wedge upper trendline around 84.00 fom breakout on 9/14, 9/15.

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy daily.jpg Size: 65 KB
  • #2,722
  • Sep 22, 2010 9:55am Sep 22, 2010 9:55am
Quoting VEEFX
Preparing myself to move my 3rd position to BE and take my 4th and final position. Anticipation: Price will touch 84.'00' level and bounce upwards ending with an sharp green engulf H1 candle.

EDIT: My account balance is back to starting balance of $5000. Fighting my old habit of closing out all trades to net out on my account balance. Should I ?
Vee, hello I wouldnt want you to lose any money.
So as long as you realise the only long term survivors will be the ones that stay below or above the intial breakout,dependent on long/short. and as long as your confident price is in no danger of coming back then hold onto the earliest entries.

But as graeme has already stated only a very small percentage survive long term these are what makes the bulk of the money.

Also realise that in a ranging market only the extreme high/ low entries are ever going to survive again dependent on breakout direction.
or your latest entry before breakout.
making green pips large and red pips small this is my goal.
  • #2,723
  • Sep 22, 2010 10:00am Sep 22, 2010 10:00am
Quoting the novice
Is it one of anticipation that price will bounce strongly at 84.00 because it is a key level? Or do you base it on other considerations?

It is a strong urge to close out profitably, isn't it? I have had 2 legs that were up considerably, closed out BE during the London session. Hurts but this is what Graeme preaches, so going to give it a try at not closing!
it is purely a physiological bounce i.e. fear of further intervention etc. It is a strong urge to close not because of floating profits but due to recovery of lost trades from eurnzd and gbpcad and to replenish my account balance.

I guess this is based on my live trading style to break-even/recover from my losses that occurred as the week progresses. Mental PostIT: I HAVE to break this habit.
Staying in my lane...
  • #2,724
  • Sep 22, 2010 10:01am Sep 22, 2010 10:01am
First sign of exhaustion occurring on H1. Downslide might be approaching to an end soon.

EDIT: This is validated by wick on last H1 candle and FB surfacing on on M15 candle
Staying in my lane...
  • #2,725
  • Sep 22, 2010 10:04am Sep 22, 2010 10:04am
Quoting paul1
Vee, hello I wouldnt want you to lose any money.
So as long as you realise the only long term survivors will be the ones that stay below or above the intial breakout,dependent on long/short. and as long as your confident price is in no danger of coming back then hold onto the earliest entries.

But as graeme has already stated only a very small percentage survive long term these are what makes the bulk of the money.

Also realise that in a ranging market only the extreme high/ low entries are ever going to survive again dependent on breakout...
Good point paul. Contrary to Graeme, I have NOT bought into the fact that price will continue to drop some 100s of pips south. I just don't see that happening so I will take profit off the table at 84 as price is beginning to stall a bit.

EDIT: Total floating profit from 3 trades approaching 73 pips... R:R is 80 pips... lets see
Staying in my lane...
  • #2,726
  • Sep 22, 2010 10:04am Sep 22, 2010 10:04am
Quoting VEEFX
First sign of exhaustion occurring on H1. Downslide might be approaching to an end soon.

EDIT: This is validated by wick on last H1 candle and FB surfacing on on M15 candle
Vee,

Looks the same on the GBPJPY, stalling at H1 but, very near the H4 200EMA... looks similar to the retrace in U/J from last week's intervention spike.

Edit: If it were to break through on G/J daily looks like it might support a real strong surge downward
  • #2,727
  • Sep 22, 2010 10:07am Sep 22, 2010 10:07am
Quoting rdwatkins
Vee,

Looks the same on the GBPJPY, stalling at H1 but, very near the H4 200EMA... looks similar to the retrace in U/J from last week's intervention spike.

Edit: If it were to break through on G/J daily looks like it might support a real strong surge downward
Yep RD... Still hoping for another mini drop
Attached Image (click to enlarge)
Click to Enlarge Name: SnapShot040 2010-09-22.jpg Size: 383 KB
Staying in my lane...
  • #2,728
  • Sep 22, 2010 10:08am Sep 22, 2010 10:08am
Please advice if I am cluttering this thread with frequent posts.

EDIT: moved 3rd to BE and entered 4th position at 50% fib on current H1 candle
Staying in my lane...
  • #2,729
  • Sep 22, 2010 10:08am Sep 22, 2010 10:08am
Hi Graeme & Vee
This is so much fun, really enjoying it....thanks.

Looking forward I think the best is yet to come and think you know that already Graeme. If fact I don't think! .....I know you know it. Why? because you know your stuff buddy and I take my hat off to you.

Once we get some of them legs going....boy oh boy is this gonna get interesting....can we really do it? 100/200 300pips profit left with no parachute overnight? (hee hee or maybe no sleep?) Ha Ha...Vee maybe we can do shifts to baby sit your pips through the different time zones so you get some shut eye?

Vee, your a star for doing this for the team, I think you might need to start going the physiological gym and get some brain /mind press up's in.

I think Graeme is gonna give you the most amazing workout soon , I think it will be tuff but I also think you are gonna feel pretty drained and feeling fantastic at the same time. Be ready for it buddy and good luck.

Keep it going boys...awersome!

NE
  • #2,730
  • Edited 10:25am Sep 22, 2010 10:12am | Edited 10:25am
eur/usd has had a great 2 day surge upwards my coin flip entry method worked a charm 3 stopped out ,3 runners .Entering open of one hour candle if it turns green with 10 pip stop . dont enter red candles wait till they go green. It worked today anyway . best i done since going live.

I also noticed on hourly green candle with pin on top next candle starts red and red candle with pin on bottom next candle starts green just helps me not enter immediately on open but wait for the desired colour . wait for candle close to set stop at b.e. also stops me taking to many trades .

I'll stick with green candles till signs of reversal on eur/usd.
If it did retrace. 1.3010 is 50% from todays price hope it goes to the moon tho lol.
making green pips large and red pips small this is my goal.
  • #2,731
  • Sep 22, 2010 10:15am Sep 22, 2010 10:15am
Quoting paul1
Vee, hello I wouldnt want you to lose any money.
So as long as you realise the only long term survivors will be the ones that stay below or above the intial breakout,dependent on long/short. and as long as your confident price is in no danger of coming back then hold onto the earliest entries.

But as graeme has already stated only a very small percentage survive long term these are what makes the bulk of the money.

Also realise that in a ranging market only the extreme high/ low entries are ever going to survive again dependent on breakout direction.
or...
Unless I miscontrued Graeme's method.
As long as Vee has his positions at BE, he does not lose money. In fact, that is what Graeme meant by 'dropping' soldiers to test the ground.
He did say that usually the entry that was first initiated at the extreme survives and brings in the bulk of the profit, but it was also mentioned that there is no way to know if the soldiers dropped along the way would survive other than to participate.

I am finding it hard to stack first of all.
Secondly I am finding it extremely difficult to see my profit disappear when BE is hit.
But this is the crux of Graeme's method.
  • #2,732
  • Sep 22, 2010 10:18am Sep 22, 2010 10:18am
Quoting the novice
Unless I miscontrued Graeme's method.
As long as Vee has his positions at BE, he does not lose money. In fact, that is what Graeme meant by 'dropping' soldiers to test the ground.
He did say that usually the entry that was first initiated at the extreme survives and brings in the bulk of the profit, but it was also mentioned that there is no way to know if the soldiers dropped along the way would survive other than to participate.

I am finding it hard to stack first of all.
Secondly I am finding it extremely difficult to see my profit disappear...
I understand the frustration of BEs taken out. keep an eye out on wicks. If you keep seeing a lot of wicks surfacing, better to close and take profit off the table than to move to BE and let the market take them out... just my 2 cents

TOTAL PIPS=103 on U/J
Attached Image (click to enlarge)
Click to Enlarge Name: SnapShot042 2010-09-22.jpg Size: 407 KB
Staying in my lane...
  • #2,733
  • Sep 22, 2010 10:19am Sep 22, 2010 10:19am
Quoting rdwatkins
Vee,

Looks the same on the GBPJPY, stalling at H1 but, very near the H4 200EMA... looks similar to the retrace in U/J from last week's intervention spike.

Edit: If it were to break through on G/J daily looks like it might support a real strong surge downward
Yep, might be the one to watch, testing 132 now.
  • #2,734
  • Sep 22, 2010 10:22am Sep 22, 2010 10:22am
Quoting Accumulation
Yep, might be the one to watch, testing 132 now.
132.035 is the H4 EMA on top of the 132 handle. If it confirms a break, it may run a good bit as is the GJs nature.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ Daily.png Size: 29 KB
Click to Enlarge Name: GJ H4.png Size: 26 KB
Click to Enlarge Name: GJ H1.png Size: 28 KB
  • #2,735
  • Sep 22, 2010 10:22am Sep 22, 2010 10:22am
Quoting VEEFX
I understand the frustration of BEs taken out. keep an eye out on wicks. If you keep seeing a lot of wicks surfacing, better to close and take profit off the table than to move to BE and let the market take them out... just my 2 cents

TOTAL PIPS=103 on U/J
4th position triggered. chart Illustration to highlight this trade
Attached Image (click to enlarge)
Click to Enlarge Name: SnapShot042 2010-09-22.jpg Size: 177 KB
Staying in my lane...
  • #2,736
  • Sep 22, 2010 10:24am Sep 22, 2010 10:24am
Guys, I am not familiar with MT4. I don't see a 'Close All Trades' feature. Please help!
Staying in my lane...
  • #2,737
  • Sep 22, 2010 10:25am Sep 22, 2010 10:25am
Quoting VEEFX
4th position triggered. chart Illustration to highlight this trade
Keep on stacking them like pancakes with syrup on each layer, yummm!!
  • #2,738
  • Sep 22, 2010 10:27am Sep 22, 2010 10:27am
Quoting VEEFX
Good point paul. Contrary to Graeme, I have NOT bought into the fact that price will continue to drop some 100s of pips south. I just don't see that happening so I will take profit off the table at 84 as price is beginning to stall a bit.

EDIT: Total floating profit from 3 trades approaching 73 pips... R:R is 80 pips... lets see
I haven't posted much, but I want to give my $0.02 and encouragement. You're doing great, VEE. One of the big things I've gotten from Graeme is to let the market tell you what it is doing. I try to remind myself that even thoug we can anticipate, we don't know what is going to happen. So be open to whatever that might be.

I often feel like you are letting your anticipation be more important than the market. You learned that lesson on your entries. Maybe you are now experiencing that on the question about your exit. But you are correct that you stated for this exercise you would exit at 80 pips. My feeling would be to encourage you to let the market tell you when it makes sense to get out, like with a close above or something of that nature.

Again, you're doing great and giving us all an opportunity to learn that is very rare. Thanks.

Michael
  • #2,739
  • Sep 22, 2010 10:27am Sep 22, 2010 10:27am
Quoting VEEFX
Guys, I am not familiar with MT4. I don't see a 'Close All Trades' feature. Please help!
Place this in the /experts/scripts/ folder and restart your MT4 platform to compile it. Then double click it. Please note, it will close all pending and open trades. true emergency script, WARNING!
Attached File(s)
File Type: mq4 A_ECA Emergency close all.mq4   7 KB | 480 downloads
  • #2,740
  • Sep 22, 2010 10:28am Sep 22, 2010 10:28am
Quoting VEEFX
Guys, I am not familiar with MT4. I don't see a 'Close All Trades' feature. Please help!
if you are with FXCM UK, go to trading, open positions, then close all
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