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Building an equity millipede

  • #3,981
  • Jan 9, 2011 4:12pm Jan 9, 2011 4:12pm
Quoting pipEASY
There will be many readers dying to know how you trade only 2 hours per day.....[/b][/color]
Glad to see you back Graeme. Unfortunately, December wasn't a good month for me in regards to active market participation due to work and personal commitments. Feel bad to miss out on following your active market commentary these past few weeks on EU. Planning to devote myself back to this thread starting this week.

I would also like give a quick update on my current performance of trades I shared in this post http://www.forexfactory.com/showpost...postcount=3849

All my brief trades in late november/early december have still survived with a net 2967+ pips in unrealized profit. Of the trades I took, EURCAD mostly hit me with surprise as far as your teaching goes currently running at 1682+ pips. It was a full body bar breakout on daily that never came back to my entry point !!! Screenshot attached for reference.

p.s. All these trades were taken only spending an hour or two on daily+ timeframe which is quite inspiring for those who have full time jobs !!!

Attached Image (click to enlarge)
Click to Enlarge Name: Capture_020.jpg Size: 216 KB
Staying in my lane...
  • #3,982
  • Jan 9, 2011 5:03pm Jan 9, 2011 5:03pm
Quoting VEEFX
Glad to see you back Graeme. Unfortunately, December wasn't a good month for me in regards to active market participation due to work and personal commitments. Feel bad to miss out on following your active market commentary these past few weeks on EU. Planning to devote myself back to this thread starting this week.

I would also like give a quick update on my current performance of trades I shared in this post http://www.forexfactory.com/showpost...postcount=3849

All my brief trades in late november/early december have...
Good morning, all

Thank you for the continued interest.

Superb results. I read your post twice and it sounds like you have definitely gained new insights and experience over the last few months. Well done and I encourage you on forward.

It was wrong of me to assume there was no 1000+ pip traders amongst us. Words cant express how content I feel to see your results. I sincerely hope this is start of a strong foundation for everyone.

Stay defensive in the early stage of the week.
Use 1 probe early and if it fails, use another probe at new highs where there is stall.
Anticipate the best scenario.

The usual general cycle of actions that we perform on a constant frequency.

Looking forward to more results this week.

Im heading out to airport this morning. I will read your inputs throughout the week but I might not be able to answer. However, I will answer them all when I return.

And please use price alerts by VPS server or mobile4x.com.

Learn how not to stare at the charts

Sincerely,

Graeme

P.S Decided not to close eurusd positions. No special reason except for the fact that the size of my losses are currently insignificant to the greater goal I intend achieve.
  • #3,983
  • Jan 9, 2011 9:39pm Jan 9, 2011 9:39pm
Quoting VEEFX
Glad to see you back Graeme....
Hello VEEFX,

Wonderful results .
-happyTrading, maaj-
  • #3,984
  • Edited 11:18pm Jan 9, 2011 10:52pm | Edited 11:18pm
Quoting pipEASY
...
It was wrong of me to assume there was no 1000+ pip traders amongst us.....
Thanks Graeme. I believe the crown still goes to red-dragon for his outstanding achievement. I was just trying to shed some light on the sheer POWER of position/trend trading.

On 12/23 when I posted those two EURCAD trades, both trades had a unrealized profit of about 800+pips and in just 2 weeks since then, it doubled to 1682 pips. I cost me 7 probes @ -322 pips (3 @ SL and 4 @ BE). I guess I got lucky as other pairs were not too kind to me

For those who have concerns about trading during asian sessions, 7 out of 9 of my trades that have survived so far in my post were opened between 0 GMT and 7 GMT. The only catch imho is to NOT put tight stops (less than 50 pips) during low volatility... hence the significant drawdown caused by frequent probes. If trading on daily+ TF, I think, stack only when I have 100+ pips in profit (or atleast 1x or 2x the pair's two day trading range) along with a valid setup/justification might be a way to reduce drawdown and prevent overtrading... just my 2 cents.

Have a safe journey.
Staying in my lane...
  • #3,985
  • Jan 10, 2011 12:42am Jan 10, 2011 12:42am
Graeme,

Let me say thank you for starting this thread, and continuing to participate. I would also like to thank MephistoII and Eklavya for the pdf, and saving me countless hours of copying and pasting a word document that has all of your posts. I am attempting your 3x20 challenge, and am considering Joel Rensink's 1 pip challenge. I just want to thank you for steering me away from my "x pips per day" mentality. Last week I started demo trading your Equity Millipede. I'm up 218 pips on the AUD/USD, and 119 on the USD/JPY. I've also come to accept that both of these may get stopped out in the long term. You have eliminated much stress from my day trading mentality, even though it was demo. I can see the future. And it looks good.

I wish you all the best,
Bill
  • #3,986
  • Jan 10, 2011 12:50am Jan 10, 2011 12:50am
Quoting VEEFX
For those who have concerns about trading during asian sessions, 7 out of 9 of my trades that have survived so far in my post were opened between...
Thanks for that insight Vee, it may be that in trading the Asian session, I am trying to be a bit cute with my SL, all well under 50 pips. I''l have to look into it.

Cheers
SJB
  • #3,987
  • Edited 3:49am Jan 10, 2011 3:26am | Edited 3:49am
Hello All,

After 27hours, 4 pots of coffee, 12 cans of pepsi max and half of costco pizza, I have finally caught up.

I would like to say that it is my privilege to be a part of this thread with so many open-minded/professional individuals. Sadly, I really have nothing to contribute to this thread that hasnt already been posted by Graeme or answered by others.

With that being said,

It was an honor to read through this thread, it felt more like a journey than a thread. Graeme was able to consciously and concisely lay out what many pro-traders knew subconsciously and with that, he has my respect as a pro of the pro-traders.

Most importantly however, the effort and his willingness to help others and his urge for others to donate to charity have my deepest and sincere respect as a person.

Wish you all the best of luck this year in fx.

ps. definitely will buy the book just so i can get it autographed ^.^

and also quote Graeme (more or less -.-) "the only selfish thing I ask is that after xx amount of years that you let me know that you have donated xx amount to xx charity of your choice"

and that quote alone = all people who think Graeme does this for fame/money can gtfo in my perspective


edit: just a thought, but it could be have already been answered by others as i may have overlooked it:

i noticed many of the traders here are not full time, why not scan across different pairs using weekly/daily candles, use smaller lot size, bigger stop loss, that way, not only will you not have to stay glued to the computer 24/7, but at the same time spread your risk exposure. just a thought ^.^ hope it helped someone
  • #3,988
  • Jan 10, 2011 3:48am Jan 10, 2011 3:48am
Simply amazing.

This is my first week getting into forex and luckily I stumbled upon a true jewel. Guess my perseverance to finding financial freedom paid off. First off I would love to thank Graeme and all the other posters for participating in such a worldly conversation.

From the beginning I knew this information was transformational and started pasting the replies in my email so I can read it on my phone. (Luckily someone was brilliant enough to compile a pdf). Little to say that I have a ton of homework and catching up to do and I hope to join the party that is here.

Graeme,

I truly appreciate what you have done and if I ever do succeed, I will do what I originally intended and change the world to be givers, not takers.

Blessings and good fortune,

Arnie
  • #3,989
  • Jan 10, 2011 4:05am Jan 10, 2011 4:05am
Just a quick post to say I definitely would buy graemes book if he does produce one purely to put my money were my mouth is in showing greame my deepest appreciation.I honestly cant thank you enough sir.I am just quitely following the thread.
making green pips large and red pips small this is my goal.
  • #3,990
  • Jan 10, 2011 10:54am Jan 10, 2011 10:54am
Quoting TradeStar
Vee,

Today I closed my first (ever!) leg for 1000 pips.
It's a small position though and I opened it after reading Graeme and just left it.

I closed at 1018 pips this morning. But had I left it, this would have been 1125 pips by now. This says something about millipede strategy.

Regards,
TradeStar

Hi Graeme,

Happy New Year to you and the Team!!!

Back on Oct 1st I closed my first ever 1000 pips position after coming to this thread.

Got caught up with some personal stuff past few weeks. Need to catch up with the thread.

Let's begin the new year with a positive note under your guidance and inspiration.

May there be great success to everyone here!!!

Thanks
TradeStar
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #3,991
  • Jan 10, 2011 6:07pm Jan 10, 2011 6:07pm
Can we please NOT make this thread turn into one where people are only happy to post their profitable trades. It distorts the reality of trading this style where you will have have more losers and BE results than you will have winners. The only benefit is for the poster as they can get an ego pump.

If you are going to post your trades, post them in advance to them being profitable (such as shortly after the trade is taken) and follow up with how it is managed right up until its end. That would actually be beneficial to people. None of this hindsight only posting winners please.

With thanks,
MK
  • #3,992
  • Jan 10, 2011 6:33pm Jan 10, 2011 6:33pm
Quoting MidKnight
Can we please NOT make this thread turn into one where people are only happy to post their profitable trades. It distorts the reality of trading this style where you will have have more losers and BE results than you will have winners. The only benefit is for the poster as they can get an ego pump.

If you are going to post your trades, post them in advance to them being profitable (such as shortly after the trade is taken) and follow up with how it is managed right up until its end. That would actually be beneficial to people. None of this hindsight...

Agreed, MK.

I just thought Graeme would be happy to know some more 1000 pip winners from his followers.

I hardly post any trades, any comments for that matter. This 'ego' stuff is not my agenda.

Thanks and happy trading.

Regards,
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #3,993
  • Jan 10, 2011 11:32pm Jan 10, 2011 11:32pm
I did a compilation of all the posts in this thread so far, here is the link if anyone finds it useful.

http://www.mediafire.com/?v4m4x04ct0cbb7w


  • #3,994
  • Jan 11, 2011 1:56am Jan 11, 2011 1:56am
Quoting beckhamis619
I did a compilation of all the posts in this thread so far, here is the link if anyone finds it useful.

http://www.mediafire.com/?v4m4x04ct0cbb7w


THANKS A LOT
  • #3,995
  • Jan 11, 2011 3:16am Jan 11, 2011 3:16am
Quoting beckhamis619
I did a compilation of all the posts in this thread so far, here is the link if anyone finds it useful.

http://www.mediafire.com/?v4m4x04ct0cbb7w

appreciate the work but i guess it would have been more useful and easier if you made it with only Graeme's posts...
  • #3,996
  • Jan 11, 2011 8:52am Jan 11, 2011 8:52am
for what is worth,

I found reading Graeme's and other's post both very helpful, gives me a lot of different perspectives.


thanks wilkohsg for the program and beckhamis for the compliation
  • #3,997
  • Jan 11, 2011 12:20pm Jan 11, 2011 12:20pm
Quoting vanderpjer
[color=black][font=Verdana]Hello everyone! I must publicly thank Graeme for all his contribution here in FF. This...
Wondering if anyone here is aware of an indicator or an EA (or any other 3rd party tool or broker platform) that plots realized and unrealized profit and account balance/equity curve on a chart in real time ? I am having a hard time keeping track of 'floating equity' curve as MT4 statement only includes a curve on account balance. Perhaps there is a feature in MT4 that I am not aware of.

EDIT: Also looking for an alert indicator that is based on unrealized profit level. i.e. send me an SMS when weekly/monthly floating profit for a given pair drops by a certain percentage.
Staying in my lane...
  • #3,998
  • Edited 9:04pm Jan 11, 2011 6:42pm | Edited 9:04pm
Quoting MidKnight
If you are going to post your trades, post them in advance to them being profitable (such as shortly after the trade is taken) and follow up with how it is managed right up until its end. That would actually be beneficial to people. None of this hindsight only posting winners please.

With thanks,
MK
Great idea MK ... I'm attaching a trade log here for an AUDUSD millipede with charts, analysis, and positions. I'll attempt to update daily and post here ...

EZCurrency

Edit: update: SL moved to b/e on lower of the two positions ... looking to add more > 0.989
Attached File(s)
File Type: pdf AUDUSD trade millipede.pdf   404 KB | 1,048 downloads
  • #3,999
  • Jan 11, 2011 9:21pm Jan 11, 2011 9:21pm
Quoting MidKnight
Can we please NOT make this thread turn into one where people are only happy to post their profitable trades. It distorts the reality of trading this style where you will have have more losers and BE results than you will have winners. The only benefit is for the poster as they can get an ego pump.

If you are going to post your trades, post them in advance to them being profitable (such as shortly after the trade is taken) and follow up with how it is managed right up until its end. That would actually be beneficial to people. None of this hindsight...
I wholeheartedly agree although you will never get people to stop doing this. I have caught myself doing it on occasion.

I don't pay too much attention to those posts anyways. There is nothing to gain from it.
  • #4,000
  • Jan 12, 2011 1:18am Jan 12, 2011 1:18am
Quoting hubbahubba
I wholeheartedly agree although you will never get people to stop doing this. I have caught myself doing it on occasion.

I don't pay too much attention to those posts anyways. There is nothing to gain from it.
My apologies MK and hubbahubba... perhaps I misunderstood Graeme's request asking us to post our trading outcome in one of his earlier post.

Posting trades when taken would simply clutter this thread contrary to posting outcome of overall trading 'journey' of building a 1000+ pips millipede. It would add a lot of value to our readers by sharing the emotional hurdles (SLs, BEs), mental attitude over when to diversify etc. Those who wish to post their daily trades are free to start their own trading journal elsewhere.
Staying in my lane...
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