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Building an equity millipede

  • #2,901
  • Sep 24, 2010 6:15am Sep 24, 2010 6:15am
Thanks fellow "millipeders" for confirming my thoughts.
  • #2,902
  • Sep 24, 2010 6:33am Sep 24, 2010 6:33am
Quoting tjfxtrader
Thanks fellow "millipeders" for confirming my thoughts.
Thought G also said that he will take a position on 'any' daily open if it is confirming his weekly anticipation, and has the same ability between daily and 4 hour, Four hour and 1 hour etc.
  • #2,903
  • Sep 24, 2010 6:37am Sep 24, 2010 6:37am
EURUSD price is in the weekly ATR zone. Also, price broke a major psychological at 1.3400. Reversal coming??? Will have to wait and see what happens.
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  • #2,904
  • Sep 24, 2010 6:53am Sep 24, 2010 6:53am
Quoting johnsund
EURUSD price is in the weekly ATR zone. Also, price broke a major psychological at 1.3400. Reversal coming??? Will have to wait and see what happens.
I'am anticipating yesterdays red candle to be the reversal looking at the red candle lower down in the leg.
and today looks to be a strong push up if it can stay above 1.3400 may see more upside at the moment it doesnt seem to want to go down.
After the 2 big green candles today i thought it would retrace but it doesnt seem to want to wait for break above the high.

Just got filled at 1.3411 as thats the hour candle open its going red ,green ,red. green lol.
making green pips large and red pips small this is my goal.
  • #2,905
  • Sep 24, 2010 7:09am Sep 24, 2010 7:09am
Finally,the price has closed above 1.3355 and exit out of the range.

Going on trend continuation....
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  • #2,906
  • Sep 24, 2010 7:38am Sep 24, 2010 7:38am
Quoting zebulon
Finally,the price has closed above 1.3355 and exit out of the range.

Going on trend continuation....
coin toss method strikes again another juicy green candle break above now.
stop moved to + 6 see what happens

Eur/usd is in perfect shape for greames method as its making new highs more chance of survivors.
making green pips large and red pips small this is my goal.
  • #2,907
  • Sep 24, 2010 9:44am Sep 24, 2010 9:44am
This is my first post on this thread. I have read from the start of this thread to about post #900 and am very enthusiastic about grahams method as it offers to simplify the hardest part about trading; what to do with open positions.

Perceptions deceive and if you watch a chart long enough you will switch from bull to bear and vice versa. graham says relax and let the market decide as the markets are not predictable. come back and look again in a couple of weeks time. The ones that should of been left open are still open the others were closed at BE. Thats brilliant if you haven't made a 100 entries and lost 3,000 pips to get one surviving leg.
.
These markets rarely move much more than 20 pips before retracing (even with breakouts) that's why closing half for 20 pips is a good idea IMHO. It gets you to BE with minimal order management and leaves the trade with room to breathe which means more legs will survive. When price repeatedly hits S/R you can stack positions.
.
Personally I think that an effective entry strategy that limits your loses when building positions is vitally important. IMHO 20 pips is too tight a stop unless scalping momentum and exiting at the first sign of a stall. I prefer to use a stop from 35 to 125 pips. I limit myself to one failed entry per day per pair. Stacking is still possible.
.
The first chart I look at is a simple weekly line chart (no bars) with ema(10,5,close) as per grahams post. I call this my long term trend which is the only one I try to catch. each weekend i choose my one direction to trade for each pair.
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My medium term trend uses a 4hr chart and the slope of two smoothed MAs(20,40, hlc/3). I only trade when the slope agrees with these as well.
.
For a short term chart i use a 30min chart with an overbought oversold channel. This allows me to use limit orders for entries when the market kindly retraces for me. When trading I scan through my charts once every 30mins looking for entries.
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I also use fractals on daily charts to tighten my stops. By posting here what I do I clarify my method to myself. Giving is receiving.

steve
Don't kill your dreams - execute them.
  • #2,908
  • Sep 24, 2010 10:32am Sep 24, 2010 10:32am
templates
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Don't kill your dreams - execute them.
  • #2,909
  • Sep 24, 2010 10:51am Sep 24, 2010 10:51am
A TRIBUTE TO GRAEME'S WAY, and Fyj(?) PDF Summary

it took one month, initial balance is $2000+; $1000+ is paid for building these positions.

everything essential is already said by Graeme, he is just so kind that he wished to convey even his refined entry experience and technique to you recently.

however, essentials are already there, you just need to re-read, and re-think. not here discussing entries, not quite efficient.

this is my sincere thanks and answers (to my following your way), also appreciate Fyj(? who made the pdf summary), it helps a lot.
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  • #2,910
  • Sep 24, 2010 11:38am Sep 24, 2010 11:38am
Am I seeing this correctly?
Will someone please post a link to the pdf?
Thx.

http://i53.tinypic.com/2h55e92.gif
  • #2,911
  • Sep 24, 2010 1:46pm Sep 24, 2010 1:46pm
http://i56.tinypic.com/3539kwy.gif

H4 FB on GBP/USD.
  • #2,912
  • Sep 24, 2010 7:00pm Sep 24, 2010 7:00pm
Quoting Mightyzoner
Am I seeing this correctly?
Will someone please post a link to the pdf?
Thx.

The easiest way to find an attachment is to click the paperclip above.
And see the list of attachments.

Bruce
Attached Image
  • #2,913
  • Sep 24, 2010 7:07pm Sep 24, 2010 7:07pm
Quoting charvo
A TRIBUTE TO GRAEME'S WAY, and Fyj(?) PDF Summary

it took one month, initial balance is $2000+; $1000+ is paid for building these positions.

everything essential is already said by Graeme, he is just so kind that he wished to convey even his refined entry experience and technique to you recently.

however, essentials are already there, you just need to re-read, and re-think....
Hi Charvo,

Very impressive results. It sure looks like you've learned your lessons well.
  • #2,914
  • Edited Sep 25, 2010 3:36pm Sep 24, 2010 7:32pm | Edited Sep 25, 2010 3:36pm
Charvo, you give inspiration to the common folk. My compliments to you sir. Will you or any of the veteran posters in Graeme's thread please help me understand the below?


Edit: I answered my own question, with help from others here. Thanks,
T
  • #2,915
  • Sep 24, 2010 9:25pm Sep 24, 2010 9:25pm
Quoting tmanbone
Charvo, you give inspiration to the common folk. My compliments to you sir. Will you or any of the veteran posters in Graeme's thread please help me understand the below?

So I choose:

Taking only 1 trade per day

$50 = x8 $5 pips + 2 pip spread

Risk 10 pips for the reward of.... 1000 pips? Sounds good.

1:100 is good. Now...

1:100 is only viable IF 1000 pip rewards happen more often that 1 per 100 cycle.

100 rounds in trading is 5 months of trading if I only take x1 trade per day. 5 per week, 20 per month,...
I am of the same opinion as you.

TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #2,916
  • Sep 25, 2010 1:24am Sep 25, 2010 1:24am
Quoting brucech
The easiest way to find an attachment is to click the paperclip above.
And see the list of attachments.

Bruce
Yes, I clicked and looked through all 7 pages, did not see it.
  • #2,917
  • Sep 25, 2010 1:37am Sep 25, 2010 1:37am
One other thing on using Daily bars for hindsight. You should determine daily direction based on start of London session if you are mostly trading London IMHO.

So if your brokers daily candle starts at a different time all you need to do is mark or make a mental note of the start of London on your hourly chart and you will know the direction. The method that talks about this is called DIBS and is on this site.

With the DIBS method the direction as explained above is determined then hourly inside bar candles are used as triggers to trade in the direction of the daily. It's an entry method that works well with the millipede system IMHO. It's one of several triggers I look for.
  • #2,918
  • Sep 25, 2010 2:17am Sep 25, 2010 2:17am
Quoting charvo
A TRIBUTE TO GRAEME'S WAY, and Fyj(?) PDF Summary

it took one month, initial balance is $2000+; $1000+ is paid for building these positions.

everything essential is already said by Graeme, he is just so kind that he wished to convey even his refined entry experience and technique to you recently.

however, essentials are already there, you just need to re-read, and re-think. not here discussing entries, not quite efficient.

this is my sincere thanks and answers (to my following your way), also appreciate...
Sorry i can' read the pdf if some one can can you tell me the information please
making green pips large and red pips small this is my goal.
  • #2,919
  • Edited 3:16am Sep 25, 2010 2:50am | Edited 3:16am
Quoting tmanbone
Charvo, you give inspiration to the common folk. My compliments to you sir. Will you or any of the veteran posters in Graeme's thread please help me understand the below?

So I choose:

Taking only 1 trade per day

$50 = x8 $5 pips + 2 pip spread

Risk 10 pips for the reward of.... 1000 pips? Sounds good.

1:100 is good. Now...

1:100 is only viable IF 1000 pip rewards happen more often that 1 per 100 cycle.

100 rounds in trading is 5 months of trading if I only take x1 trade per day. 5 per week, 20 per month, 100 in 5 months....
Ok Hello the first bit :-
A) $50= (8@ $5 pip= $40)+(2 pip spread @$5= $10)= $50 Can you see that? basically saying 8 pip stop 2 pips spread = 10 pips risk

B) 10 pips risk =$50 as above calculated in (A)

c) 1000 pips is what graeme is aiming for in profit and says happens
anywere from weeks to months.

D) now b= risk 10 pips c= reward 1000pips r/r= 10:1000 or 1:100

E) Ok now a cycle =100 entries. assume you lost every entry risking 10 pips thats your target profit 1000 pips .

This says you can lose 100 times before you reach 1000 pips.
But if you for example

lost 99 you would lose 99 @ 10 pips = 990 pips
won 1 you would win 1 @ 1000 pips = 1000 pips

profit 1000 minus 990 pips = 10 pips

example 2

lost 98 you would lose 98 @ 10 pips = 980 pips
won 2 you would win 2 @ 1000 pips = 2000 pips
profit 2000 pips minus 980 pips = 1020pips

win 3 = 2030
win 4 = 3040
win 5 = 4050

Can you imagine having a success rate equal to flipping a coin say 60/40 . 40 being the winners lol
lose 60 @10 pips= 600 pips
win 40 @1000pips 40,000 pips
profit 40,000 pips minus 600= 39,400 @ $5 =$197,000
40000 @ $5 pips =$200,000 minus 600 @$5 pips = $3000 =$197,000

Ok got to go yatch salesman at door lol

maybe instead of win replace with survivors.
As you can see entries arent as important as you thought
2% successful entries can bring big profit
has this made it clearer?
making green pips large and red pips small this is my goal.
  • #2,920
  • Sep 25, 2010 4:17am Sep 25, 2010 4:17am
Quoting paul1
Ok Hello the first bit :-
A) $50= (8@ $5 pip= $40)+(2 pip spread @$5= $10)= $50 Can you see that? basically saying 8 pip stop 2 pips spread = 10 pips risk

B) 10 pips risk =$50 as above calculated in (A)

c) 1000 pips is what graeme is aiming for in profit and says happens
anywere from weeks to months.

D) now b= risk 10 pips c= reward 1000pips r/r= 10:1000 or 1:100

E) Ok now a cycle =100 entries. assume you lost every entry risking 10 pips thats your target profit 1000 pips .

This says you can lose 100 times before you reach 1000 pips.
But...

Paul, nice explanation there. That should help a lot of people who haven't yet been able to see the bigger picture yet.

Cheers,
Bak
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