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Building an equity millipede

  • #3,161
  • Oct 4, 2010 4:58am Oct 4, 2010 4:58am
Quoting VEEFX
Good Evening/Morning Graeme and fellow traders,

Hope you all had a wonderful weekend. A quick update on where I stand on continuing my participation in the 200ema project that I volunteered for Graeme two weeks back. I am a bit concerned that no one raised their hand (either publicly or privately) to my previous request to get confirmation of a successful outcome in their objective of meeting 80 pips TP. However, I did receive a tremendous response and kudos from most of frequent participants to continue my participation of posting trades for...
I too feel it best to wait for greame because without guidance we may go off track.
Meanwhile lets focus on getting comfortable with entries so were ready for greames return.
Lets share whats working and our difficulties.
making green pips large and red pips small this is my goal.
  • #3,162
  • Edited 6:13am Oct 4, 2010 5:34am | Edited 6:13am
Quoting paul1
I too feel it best to wait for greame because without guidance we may go off track.
Meanwhile lets focus on getting comfortable with entries so were ready for greames return.
Lets share whats working and our difficulties.
Hi V et all,
My own take on what has happened is that Graeme has been introducing a way of approaching the market and the disciplines necessary to achieve success, once Graeme had introduced FB's and there just happened to be a good one - 18th Aug - everybody latched onto FBs like headless chickens as though FB's were the holy grail of trading; they are not! Again I believe the object of this exercise was to get readers to focus on another of the many methods that can be profitable, but as V has so ably demonstrated success is not so easy to achieve. The exercise is one of discipline and choosing entry points that can be successfull for minimal loss.

It is the discipline associated with any entry method whether it be FBs, volatile breakouts, whatever that will ultimately lead to success.
As Tradestar said in an earlier post Graeme does not use stops - or not often on initial entries, because he knows when he will close the position if it goes against him - above the top of a wick, a retracement from a 00, whatever, and he is disiplined enough to do this. Most of us are not, but V's exercise is - or should be - helping us towards that discipline - it is just unfortunate that it has yet to prove fruitful, but again the losses are inevitable, but there will be winners.

I have always thought, but not practised too well that a trader should 'marry' a strategy NOT a position - for better or for worse; only when the strategy consistently fails get a divorce and find another!
  • #3,163
  • Oct 4, 2010 10:58am Oct 4, 2010 10:58am
Here's a screen shot of my 10K demo account which is now +12%.
The oldest position is on the eur from 15th of sept.
The trend is pretty easy to see on these pairs except the CAD (on the weekly chart last fridays close now makes a breakout lower probable maybe.)

The thing i like best about the millipede method is that it doesn't matter that i can't see into the future. So long as i keep my position sizes small (and i'm not sure i'm doing that) and i keep participating (but not too frequently to keep costs down) eventually i'm going to get lucky and have a position survive for a couple of weeks.

Going with a trend as a friend also helps so look at the WEEKLY charts every weekend and take notes.
The yellow indicator here on my daily charts is called i-Regr. I think i found it here on FF for free. Imho the tighter the lines are the stronger the trend. This one helps my confidence to buy a 24 hr pullback. You have to maintain perspective which is the biggest trap in going down to a smaller timeframe. It's why i used to pick a top 30 times a month on a trend that never ended : )

hopefully i didn't do that again on eurchf. On the WEEKLY chart it looks like a reaction from a descending trendline. will find out later from the market.
steve
Attached Image (click to enlarge)
Click to Enlarge Name: mt4 demo 101004.jpg Size: 361 KB
Don't kill your dreams - execute them.
  • #3,164
  • Oct 4, 2010 12:09pm Oct 4, 2010 12:09pm
Quoting mjaymay
Paul1, I think we are looking to accomplish the same thing. I have been practicing trading the daily for the past several months and have combined that with Graeme's principles. What I like to do is have a daily perspective and then use the 1H chart for the details. I like the brokers who have 00:00 start time correspond with the end of New York session. This gives some time at the start of the new candle to make decisions because the market is more quiet (usually) after 5:00 Eastern.

The way I figure it we can add another micro lot as the initial...

Great observation.
  • #3,165
  • Oct 4, 2010 11:16pm Oct 4, 2010 11:16pm
Quoting VEEFX
Good Evening/Morning Graeme and fellow traders,

Hope you all had a wonderful weekend. A quick update on where I stand on continuing my participation in the 200ema project that I volunteered for Graeme two weeks back....
VEEFX I would love to volunteer for the 200ema project
  • #3,166
  • Edited 11:56pm Oct 4, 2010 11:47pm | Edited 11:56pm
Quoting Pips Fari
VEEFX I would love to volunteer for the 200ema project
Please don't take any offense. You (or anyone) is free to do whatever seems fit in the other millipede thread. Go for it! I would love to see others take a stab at this project.

I prefer to keep this main thread free of clutter with all your trading activity... just to prevent Graeme from further frustration.

EDIT: Please post your trades or discuss other relevant topics in the other millipede thread. Here's the link.. http://www.forexfactory.com/showthread.php?t=255481
Staying in my lane...
  • #3,167
  • Oct 5, 2010 5:15pm Oct 5, 2010 5:15pm
Could Graeme be testing us? Waiting for someone to grab hold of the reins. I recall reading something about sheep. If we wait for Graeme, then what are we?
  • #3,168
  • Oct 5, 2010 7:00pm Oct 5, 2010 7:00pm
Quoting tjfxtrader
Could Graeme be testing us? Waiting for someone to grab hold of the reins. I recall reading something about sheep. If we wait for Graeme, then what are we?
I don't think anyone should wait for Graeme. We all should continue practicing this trading approach and refine our entries and eventually go live. I am still participating/volunteering in this 200ema project but not posting my trades on this thread.

Update: I took several short positions last night on AUDCHF and came VERY close to TP of 80 pips. Unfortunately, I tried used the 'close all open positions' script posted on this thread but could not make it to work in time and within 10 minutes, price came back up wiping out all my floating profits as shown in the chart. I eventually was able to close all my positions at BE+2pips.

PS. Here's the chart illustration. I posted it briefly last night and then deleted it as it did not turn into 80 pips of profit.
Attached Image (click to enlarge)
Click to Enlarge Name: 10-5-2010 12-24-54 AM.png Size: 86 KB
Staying in my lane...
  • #3,169
  • Oct 5, 2010 7:05pm Oct 5, 2010 7:05pm
we should all practice using this broker
Attached Image


What a joke !
Staying in my lane...
  • #3,170
  • Oct 5, 2010 8:21pm Oct 5, 2010 8:21pm
Quoting VEEFX
we should all practice using this broker
Attachment

What a joke !
Hi V,
I did sign up for a demo some time ago with this group, but would caution anyone to read how they appear to operate first if they contemplate a live account, e.g. (as I understand the process) you have to say whether you are buying or selling before they confirm the price which could be the high or low of the spread - depending on your trade, but probably not on demo so they could get the spread and plus commission on winning trades. Not a bad way to do business. Also as a US company they cannot hedge - or can they?
Just a note of caution!

Cheers

Ray
  • #3,171
  • Oct 6, 2010 3:36am Oct 6, 2010 3:36am
Looks like I missed the place where Graeme said not to post trades here. Anyway, if I cannot post my trade here, what remains for me to do? sit and watch, and wait for hours, and go look elsewhere for action. Imho posting charts and commenting them is THE way to keep this thread alive, because that is the only way to illustrate an idea, and there is almost always some body to react to it. I can't realy understand what is wrong with that
Muntu
Patience is magic
  • #3,172
  • Oct 6, 2010 3:59am Oct 6, 2010 3:59am
Quoting VEEFX
I don't think anyone should wait for Graeme. We all should continue practicing this trading approach and refine our entries and eventually go live....
Hi VEE,

If you want to close all positions at one price, do following:

you have 7 sell positions, so send an order to buy 0.70.
you will have 7 sells (0.10 x 7) and one buy 0.70. total hedge.

then in MT4 platform there is an option to close all positions at one price.
  • #3,173
  • Oct 6, 2010 7:12am Oct 6, 2010 7:12am
Quoting VEEFX
I want to add one more consideration related to this topic....
I trade with MIG; I can modify orders, set trailing stops etc, anytime, no need to have 5+pips profit. Their spreads are relatively good.

regards

Carlos
  • #3,174
  • Oct 6, 2010 8:18pm Oct 6, 2010 8:18pm
Hello all,

I had started reading this thread about 2 months ago and I'm currently on page 100 so I thought I should come in and say my thank you's to Graeme. Unfortunately, for reasons that I'm sure are good Graeme has decided to leave the thread for now.

I had a question about the general type of trading and if anyone who's read through the entire thread and has a good grasp of Graeme's method could answer this for me it would be greatly appreciated.

I am having trouble at seeing how Graeme stack's his position. I know he reiterated this many times but there are some things, at least in my mind, that don't fir in together.

He said, in one of the posts between page 90 and 100 that he'll find a good opportunity that the trend may be reversing and he analyzes price action then starts stacking, in some cases he stacks them after every 15 minutes or 5 minutes.

In another example, farther back, he mentioned how it's good to space your entries out when a new 4 hour chart is forming. I know this seems like a trivial question but stacking is something I've been having trouble with.

It could be that I have not gotten any good trends but in theory this method and idea sounds like the way to go if you want to do it for more than fun but in practice...well, for me at least it's just getting to be a little frustrating.

Once again, if Graeme does read this, I would like to say Thank you because information is still information and this seems like the type that, if taken into effect, will have amazing outcomes for the participants.

I'm just sad that I discovered it too late.

Anyways, my apologies for the prolonged message.

All the best,
Ardi
  • #3,175
  • Oct 6, 2010 10:46pm Oct 6, 2010 10:46pm
Quoting VEEFX
Please don't take any offense. You (or anyone) is free to do whatever seems fit in the other millipede thread. Go for it! I would love to see others take a stab at this project.

I prefer to keep this main thread free of clutter with all your trading activity... just to prevent Graeme from further frustration.

EDIT: Please post your trades or discuss other relevant topics in the other millipede thread. Here's the link.. http://www.forexfactory.com/showthread.php?t=255481

What are you talking? why we need another thread to something that is been taught here? Pipeasy has been sharing his knowledge in this thread and we need to discuss and clarify the matters here with charts if needed.

Do you think this thread is for the theory then the other thread is for Charts and discussion? First of all, you guys should not have created another 100 threads. Can't you see what is happening now? all the threads are sleeping..non of them is active.
  • #3,176
  • Oct 7, 2010 12:30am Oct 7, 2010 12:30am
Quoting zamzen
What are you talking? why we need another thread to something that is been taught here? Pipeasy has been sharing his knowledge in this thread and we need to discuss and clarify the matters here with charts if needed.

Do you think this thread is for the theory then the other thread is for Charts and discussion? First of all, you guys should not have created another 100 threads. Can't you see what is happening now? all the threads are sleeping..non of them is active.
Hi,

No need to get upset. The idea is not to turn this thread into a journal of trades from the followers. Specific trade activity with a question / clarification / suggestion along with a chart is always welcome.

secondly, Graeme, himself suggested that the thread be the focal point for the conversation between him and Vee as that would be his way of teaching and hence avoid any additional distractions.

Hope this helps

Regards,
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #3,177
  • Oct 7, 2010 1:03am Oct 7, 2010 1:03am
Scripts for 3 x 20 pips exercise. To make things even easier, assign keyboard shortcuts, e.g. Easy Buy => CTRL + 1, Easy Sell => CTRL + 2

After first run, change "Easy.Lots" global setting to your preference. Default is 0.01 lots.

Regards,

Fifty
Attached File(s)
File Type: mq4 Easy Buy.mq4   2 KB | 756 downloads
File Type: mq4 Easy Sell.mq4   2 KB | 711 downloads
  • #3,178
  • Oct 7, 2010 2:59am Oct 7, 2010 2:59am
Quoting zamzen
What are you talking? why we need another thread to something that is been taught here? Pipeasy has been sharing his knowledge in this thread and we need to discuss and clarify the matters here with charts if needed.

Do you think this thread is for the theory then the other thread is for Charts and discussion? First of all, you guys should not have created another 100 threads. Can't you see what is happening now? all the threads are sleeping..non of them is active.
Definitely with Zamzen. Untill Graeme himself has clearly stated otherwise, I will be posting and commenting here.
Patience is magic
  • #3,179
  • Edited 4:24am Oct 7, 2010 4:12am | Edited 4:24am
Quoting zamzen
What are you talking? why we need another thread to something that is been taught here? Pipeasy has been sharing his knowledge in this thread and we need to discuss and clarify the matters here with charts if needed.

Do you think this thread is for the theory then the other thread is for Charts and discussion? First of all, you guys should not have created another 100 threads. Can't you see what is happening now? all the threads are sleeping..non of them is active.
Hi Zamzen,
Please don't take what Vee is suggesting in the wrong way. I am in agreement with Vee that we need to keep this thread clutter free. I wasn't going to post it publicly here but for the sake of the thread, I would like to say that, a while back, Graeme mentioned to me by pm (sorry Graeme) that all the random contributions is making it difficult for him to continue with the thread. Now his absence at the present time may not be related to that and could be because of his ill health (which he mentioned in his recent posts) but we just don't know till we hear from him. Please let's all make it easier for Graeme to continue with his teachings here uncluttered when he is well enough. In the meantime, let us all pray for his speedy recovery.
Graeme, if you are reading this, our thoughts are with you.

Bak
  • #3,180
  • Edited 7:22am Oct 8, 2010 6:58am | Edited 7:22am
Here's a custom indicator for MT4 to show the proximity of price to the 200 ema.
When price is within 40 pips a box appears on the lhs of the chart.
The height of the box is 40 pips to give some perspective to the chart volatility.
If price is below the ema, the top of the box is at the same level as the current ema level and it's color is red.
If price is above the ema, the bottom of the box is at the same level as the ema and it's color is green.

There is a user input for repaint
when true it updates with each tick.
when false it only updates when the bar completes.
at the top left corner of the chart it shows the proximity in whole pips.
when this is zero it draws both boxes.

I hope you find this useful.
PLEASE DON'T USE THIS THREAD TO COMMENT ON THIS INDICATOR.
SEND ME A PM (private message) INSTEAD.
steve
Attached File(s)
File Type: mq4 SABT_Proximity2MA.mq4   6 KB | 741 downloads
Don't kill your dreams - execute them.
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