Building an equity millipede | Page 177 | 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

  • #3,521
  • Nov 11, 2010 6:52pm Nov 11, 2010 6:52pm
Quoting dazzdude
...
Go back and read Graeme’s first posts. He was not planning on teaching any trading "rules", nor “entries systems”, etc. This only happened as he (was) asked so many times that through the kindness of a great man, he did. What his intentions were was passing on a trader’s mind-set and a winning trading philosophy. Think about how you can apply one, some or many of these ideas (in) your own trading style.
...
Darren,
Really awesome research and a great post.
Re-reading Graeme's 1st posts is a great way to reset the mind on what Greame has achieved in this great thread.

cheers scalpz

Eklavya - pdf is great - Thanks.
Target 2 : Stoploss in the green
  • #3,522
  • Edited 9:54pm Nov 11, 2010 7:27pm | Edited 9:54pm
Quoting MidKnight
Hiya,

Just something to think about. Everybody wants confirmation and we know what the majority get out of the markets. To succeed in the markets, one needs to do what the majority are not.

With kind regards,
MK
There is another thread where they are using astrology that you might want to check out.
  • #3,523
  • Nov 11, 2010 7:42pm Nov 11, 2010 7:42pm
Quoting hubbahubba
Best of luck with that. There is another thread where they are using astrology that you might want to check out. It's the holy grail I hear.
Its called VSA mate (aka f*** what "the herd" are doing)
  • #3,524
  • Nov 11, 2010 8:52pm Nov 11, 2010 8:52pm
Quoting hubbahubba
Best of luck with that. There is another thread where they are using astrology that you might want to check out. It's the holy grail I hear.
There is no need to be rude about it, my post was sincere. I guess I'll refrain from future comment in threads - good job.

As to iamboston, VSA is one of many possible choices. Using your experience and trusting your gut/intuition is just as valid if you have lots of experience and believe in yourself. The options are infinite.
  • #3,525
  • Nov 11, 2010 9:46pm Nov 11, 2010 9:46pm
Quoting MidKnight
There is no need to be rude about it, my post was sincere. I guess I'll refrain from future comment in threads - good job.

As to iamboston, VSA is one of many possible choices. Using your experience and trusting your gut/intuition is just as valid if you have lots of experience and believe in yourself. The options are infinite.
Yes. Infinite options to lose your money.
  • #3,526
  • Nov 11, 2010 10:01pm Nov 11, 2010 10:01pm
  •  acim
  • | Joined Jan 2010 | Status: I'd rather be stacking :-P | 46 Posts
Quoting hubbahubba
I'm personally not very comfortable with the word anticipation....

"jumping into a trade before you get confirmation"

- I feel more comfortable looking at the PA and anticipating a "bounce" close to e.g. previous high. If I "like" what I see from PA I will jump in, but with a small size e.g. 1 mini. I will add more if it moves in my favor. I prefer this oppose to waiting for a "confirmation" and going with larger size -e.g. 5 minis - (because I feel more confident it will go MY way). Even if you go with the same size your stop is much larger (but possibly less likely to be hit), and you will be more disappointed that your confirmation did you no good - if you hit SL. With small SL it's easier to get over it and try again.


"before we know which way the price will go"

- This implies that you KNOW where the market is going after your confirmation - you are or will be a billionaire !?! Wouldn't mind if you share with us this "confirmation" !?!

Please don't take this as any kind of attack on you, your method or your reasoning. I am myself very frustrated after years of looking into charts and trying to find some indicator (or their "special" combination), PA little known secret pattern, multiple timeframe "confirmation" or anything that will CONFIRM that my trade will be a winner - without a success.(And without patience to stick to anything - I might add). There is a lot of wisdom in Graeme's method, and whether you are profitable trader or not take a best advantage of it.

I am trying hard to get rid of many bad habits (I acquired in all those years) using Graeme's methodology as a guiding light. (See his post # 3346 - first two underlined words are underlined for a reason). So all you new traders out there reading this thread consider yourself lucky and stick with this ! It will save you bundle of cash you would waste on gurus, systems and robots, not to mention less blood, sweat and tears. (Still a lot of it is needed).

Thanks for reading

P.S. Some chart explanation in hindsight. (wish I am this good ... lol)
Attached Image (click to enlarge)
Click to Enlarge Name: scailing in - no sweat.jpg Size: 74 KB
  • #3,527
  • Nov 11, 2010 10:46pm Nov 11, 2010 10:46pm
Quoting acim
"jumping into a trade before you get confirmation"

- I feel more comfortable looking at the PA and anticipating a "bounce" close to e.g. previous high. If I "like" what I see from PA I will jump in, but with a small size e.g. 1 mini. I will add more if it moves in my favor. I prefer this oppose to waiting for a "confirmation" and going with larger size -e.g. 5 minis - (because I feel more confident it will go MY way). Even if you go with the same size your stop is much larger (but possibly less likely...
You can nibble away before confirmation. I don't see anything wrong with that. But to take a trade head first before you get confirmation is jumping in too early. Graeme himself tries to teach people not to do that. As does just about every other experienced trader on this board.

So don't shoot the messenger. Argue with them if you disagree. I'm just repeating what they say.
  • #3,528
  • Edited Nov 12, 2010 2:08am Nov 11, 2010 11:07pm | Edited Nov 12, 2010 2:08am
Quoting hubbahubba
You can nibble away before confirmation. I don't see anything wrong with that. But to take a trade head first before you get confirmation is jumping in too early. Graeme himself tries to teach people not to do that. As does just about every other experienced trader on this board.

So don't shoot the messenger. Argue with them if you disagree. I'm just repeating what they say.
Stop. Let it go.
  • #3,529
  • Nov 11, 2010 11:14pm Nov 11, 2010 11:14pm
Quoting MidKnight
There is no need to be rude about it, my post was sincere. I guess I'll refrain from future comment in threads - good job.

As to iamboston, VSA is one of many possible choices. Using your experience and trusting your gut/intuition is just as valid if you have lots of experience and believe in yourself. The options are infinite.
never refrain from posting/learning mate. If someone disses your opinion/trading, just do your best to take his/her money!!!!
  • #3,530
  • Nov 12, 2010 12:52am Nov 12, 2010 12:52am
so sad to see this thread is drifting from its course, and all because of some selfish and ego-centric people with so much high-esteem...

stop massaging your ego(s) and let's put this thread on the right track and move on...

so many people like myself who's learning of graeme's method and approach has just started... but so sad to see some people trying to prove that they're good and better to everyone here...

grow up guys... we're here to learn not to boast or massage your ego...

i can see and feel arrogance...

... be watchfull, for arrogance will kill your account

can we move on now?

p.s. why not open your own thread to continue your arrogance and bickering... just a thought. but whatever it is, don't do it here... have a respect to all here.
Success consists of going from failure to failure without loss of enthusiam
  • #3,531
  • Nov 12, 2010 1:28am Nov 12, 2010 1:28am
Quoting Eklavya
Folks..I am attaching all of PIPeasy's posts in a pdf file. Please PM me if you are unable to download the file...

http://www.mediafire.com/?nzhyiod0jk6b20c
Many many thanks ! been awhile since i read this should read it all again in the weekend
The universe seems neither benign nor hostile, merely indifferent.
  • #3,532
  • Nov 12, 2010 1:38am Nov 12, 2010 1:38am
Quoting dongsky
so sad to see this thread is drifting from its course, and all because of some selfish and ego-centric people with so much high-esteem...

stop massaging your ego(s) and let's put this thread on the right track and move on...

so many people like myself who's learning of graeme's method and approach has just started... but so sad to see some people trying to prove that they're good and better to everyone here...

grow up guys......
I hope you don't take it wrong when i some days ago posted some SS of 2 of my trades I did as I thought it was in context as Graeme talked about that pair and that he had missed it and only one of those trades went well.

I think we should keep this thread fairly clean to Graemes post BUT on the other hand I love and learn much to read other peoples trades using Graemes views of the market. I think it could help us all and that Graeme is the driving force of this mastermind (as the term used by Napoleon Hill) we can have the interacting opportunity to create a synergy effect from people from all walks of life from all over the world.

That said I think we should try and stick to Graemes teachings in this thread!
The universe seems neither benign nor hostile, merely indifferent.
  • #3,533
  • Nov 12, 2010 2:39am Nov 12, 2010 2:39am
Quoting dongsky
so sad to see this thread is drifting from its course, and all because of some selfish and ego-centric people with so much high-esteem...

stop massaging your ego(s) and let's put this thread on the right track and move on...
+1
  • #3,534
  • Nov 12, 2010 2:52am Nov 12, 2010 2:52am
hello everyone..
i posted some charts regarding my last trades in the link below (not only pinpoint entry but also a bad one too)
http://www.forexfactory.com/showpost...&postcount=102
and continues here with the update on eurusd trade
http://www.forexfactory.com/showpost...&postcount=103

good luck all..

p.s:hope Graeme is okay and will be back soon..
  • #3,535
  • Nov 12, 2010 3:53am Nov 12, 2010 3:53am
IMHO, every thing we do is because we anticipate an outcome. Only problem is the reasons, the tools that lead we to a particular conclusion, and how far we can go to test your preposition before stopping it or even taking its reverse side.
Patience is magic
  • #3,536
  • Nov 12, 2010 5:01am Nov 12, 2010 5:01am
Hi Graeme,

I am not sure I am cured yet of premature-trade-evacuation (which is about over coming my fear of losing pips gained), though the more I test holding onto trades longer, the more I see that over the long term (if I can overcome the emotional gut-wretching struggle of watching trades go from $$ back to BE and the associated drop in winning trades %) it does certainly appear that I can make more pips over the long haul from my on-going back testing. Example below. (contiuning from my stacking test some posts back).

Once again, thank you for your insights and generosity.

Kindest Regards,
Darren Poyner
Attached Image (click to enlarge)
Click to Enlarge Name: test.jpg Size: 273 KB
  • #3,537
  • Nov 12, 2010 5:32am Nov 12, 2010 5:32am
Hi Graeme,

I have been thinking about this question for a while now and would value the insight of your experience.

Using 5m candles, I am trying to guide myself by the 1h candles (and 4 hour candles as well).

Do you think it makes a difference "when" a potential trade setup occurs within the context of a larger candle? For example, my back testing using 5m candles seems to suggest that the best and more reliable signals happen within the first 15 or 20 mins (3 or 4 bars) within the hour candle.

For example, my observation after watching maybe 50 attempted entries (back testing - not live) on the 5m chart is that the trades entered at early within the 1 hour candle seem to do much better (better chance of surviving) than trades entered towards the tail end of the 1 hour candle.

It could be just conincidence, and I will do more testing as that sample range is rather small.

Have you noticed a similar pattern? Is their validity to my observation? How much weight would you place on this (if any)?

An example is in the picture below.

I have a sell / exit signal on the 5m chart at the open of the third 5m candle (now 11 minutes past the hour). I would also "anticipate" a good chance of getting an dn close outside bar on the 15 min chart - though bar does have 5 mins to go) Given this thesis, would you be more inclinded to act on this potential signal than if the signal occurred at the end of the 1 hour?

Kindest Regards,
Darren Poyner
Attached Image (click to enlarge)
Click to Enlarge Name: qu.jpg Size: 351 KB
  • #3,538
  • Edited 8:07am Nov 12, 2010 6:04am | Edited 8:07am
Hi Graeme,

I just wanted to follow up on my last post/qu as I am now very curious about my observation. I have stepped forward using 5m candles and marked off what I would consider to be some candles that display a some PA message to me (pin, flying budda, outside down close, etc) that ocurr on or close to the start of the hour (on average) and they do appear to be statically more reliable to mark the start of a move (whether it be a 20 pip move or 200 pip move).

Looking at other charts, I see the same general pattern repeating.

I am even more curious now to find out what your observation has been AND how you use do/would/could use this in your trading decisions (intra-day).

Kindest Regards,
Darren Poyner
Attached Image (click to enlarge)
Click to Enlarge Name: qu2.jpg Size: 327 KB
  • #3,539
  • Nov 12, 2010 8:14am Nov 12, 2010 8:14am
I spoke with a very accomplished trader several years ago, who at that time, had completed 476 positive trades in a row. Searching for insight, he agreed to give me a million-dollar tip - DON'T EVER TRADE AGAINST THE 1-HOUR CANDLE he replied. I personally have found that the 1-HR candle normally reverses direction, at least to some extent, on the hour - every hour. Although there is no way to know whether this is a pullback or reversal, I have learned to respect the one hour candle when choosing entries.
  • #3,540
  • Nov 12, 2010 8:25am Nov 12, 2010 8:25am
Thank you Warburg. I will study this further. If your time permits, would you be able/willing to expand further on this insight? Any examples of how you have sucessfully used this "edge"? I am intriguded about this at present.

Kindest Regards,
Darren Poyner
2 traders viewing now