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Building an equity millipede

  • #4,421
  • May 3, 2011 6:17am May 3, 2011 6:17am
Quoting Pip_Pirate
I guess its a matter of finding a balance where you let your profits run but you diversify often enough to have a smooth equity curve.
Very Educating. Thank you.
  • #4,422
  • Edited 10:36am May 3, 2011 9:51am | Edited 10:36am
Hi,

How many candles do you consider for a good volatile breakout ?



[IMG]file:///C:/Users/Thijs/Desktop/Daily.jpg[/IMG]
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Inflation in things we need, Deflation in things we want.
  • #4,423
  • May 4, 2011 12:16am May 4, 2011 12:16am
Good afternoon, all

Thank you for questions.

Ardi55 - There are moments that are considered A, A+, A++, A+++. If a breakout is occuring that does not have momentum, it could be due to several factors. The breakout has not attracted enough attention (yet). Any prolonged 'stall' with a notion of a breakout; whether it is hot and fast or slow and questionable is still worth a probe. What happens thereafter leads to further appropriate actions.

Darrenlittle - Yes, that will ensure a 'smoother equity' curve by taking smaller wins whilst keeping the other for a run. It is the same as taking trades for both weekly and monthly hindsights. However, if you think about it carefully, the potential result will be similar/same to a trader taking just a single trade but diversifying a portion of his/her positions later on during mid growth.

Eiman - Thank you for sharing and wishing only the best with your trading career. In regards to equity fluctuating, pip_pirate has answered it correctly.

Ikanman - Thank you for your kind words.

Thijs - Good question however no specific answer. It could be 1 or it could be few. As long as the price closed towards your intended direction then you are still in play. Never trade against the closing price. If price closed below the open price of previous UP candle then you would not enter any BUYS (for that particular timeframe involved).

Bearish engulf and bullish engulf is a very simple way to test the general concensus of mass traders.

Sincerely,

Graeme
  • #4,424
  • May 4, 2011 1:49am May 4, 2011 1:49am
I have lost too many soldiers on this 100 pip battle ground. :-)
Now I see why you say we are always too early.
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Inflation in things we need, Deflation in things we want.
  • #4,425
  • May 4, 2011 2:58am May 4, 2011 2:58am
Quoting Thijs
I have lost too many soldiers on this 100 pip battle ground. :-)
Now I see why you say we are always too early.
I've also watched that range like a hawk since yesterday!
It will break out sooner or later I myself have not tried to to trades while it is in the range i will wait for a breakout and close above or below.

I do however have 3 long positions allready and my battleplan is to take another position long if it breaks north and diversify 1-2 positions if it breaks lower.

To make matters even more complicated is that i have noticed that eurusd very often does the headfake. Meaning that it breaks out in one direction to take out all the stops then it proceeds to break out in the other direction and resuming trending
The universe seems neither benign nor hostile, merely indifferent.
  • #4,426
  • May 4, 2011 3:48am May 4, 2011 3:48am
Hi to all of you millipedians,
Graeme asked me if I would like to share some of my results trading his way with everyone.
I am doing this a little apprehensively as I have seen others get shot down for so called grandstanding, not my intention, I am only doing this because Graeme ask me to.

Below is a copy of a PM I sent to Graeme the other day.

Hi Graeme,
really nice to hear from you.
things are going well, i have done exactely what you suggested before, that is closing some positions along the way. At this point i have 7 aud positions, 2 in the high 900 pip range, one in the 800, 700, 600, 2 in the 400 range.
i also have 3 e/u positions open, between 150 and 500 pips.
e/g i have a couple of positions, 1 at 300, and 1 at 150.
other positions i have are a couple of a/j both under 100 pips at the moment.
btw these are all long positions.
on the short side i only have a couple of positions at this moment, on the g/chf around 300 pips.

I also sent this to Graeme yesterday afternoon.
These are some stats for the AUD trades I was holding

93 trades total
lost 1370 pips
taken 1766 pips onn the way
still have 4637 pips in play
will probably close a few more soon
but will leave the most recennt onces open and leave 1 or 2 of the biggest open.

I have as of today closed a few of the aud positions

I only kept 2 positions on the aud, as some of the ones I closed where part positions left from previous diversifying.

I also closed 1 of the E/u positions, the e/g positions have grown a little more and I have added there as well with another 2 positions.
The a/j have closed at B.E.

The G/chf positions are growing nicely, another 3 positions have been opened, the fist 2 are at 640 and 580, with another at 210, 185, and a new one at 20, awaiting a stop at B.E.

I have some other new open positions as well in e/nz, 3 altogether, e/j, e/c, some of these positions are still not B.E trades, but we have to participate.

I have not done any indepth analysis of my trading, just watching my account creeping forward, and when you get to cashout some of those bigger trades, it makes you feel like things are working the way they should be.

I would like to also say that reading Nomask’s thread is a great companion to this one.

i hope this helps others in some way.

kind regards
Geoff
  • #4,427
  • May 4, 2011 3:56am May 4, 2011 3:56am
Hi Geoff,

Really nice work there, congratulations !

I have a question: how long was the period during which you took the 93 trades (like a week ? or two ?)

(also I thought you kept a journal thread somewhere..have you closed it ?)

Kindest Regards,

Cam
  • #4,428
  • May 4, 2011 3:59am May 4, 2011 3:59am
Quoting cameron1st
Hi Geoff,

Really nice work there, congratulations !

I have a question: how long was the period during which you took the 93 trades (like a week ? or two ?)

Kindest Regards,

Cam
Hi Cam,
thanks very much mate

thoses stats are from March20 up until yesterday afternoon.

cheers
Geoff
  • #4,429
  • May 4, 2011 4:00am May 4, 2011 4:00am
Thanks for the post Geoff. I can see that I'm trying to be too 'perfect' with this all. It has always been a problem with my trading and my character in general. I'm over thinking, over analyzing, and under trading. Thanks again.

All my best,
MK
  • #4,430
  • May 4, 2011 4:05am May 4, 2011 4:05am
Quoting Thijs
I have lost too many soldiers on this 100 pip battle ground. :-)
Now I see why you say we are always too early.
Hello Thijs,

If you don't mind me saying this: it doesn't seem like that EURUSD range is the right place to stack. I know you say "probing" ... but probing too often is actually more like "stacking". Perhaps it would be better to let this week close, to see some direction before trying to add more positions, your choice entirely, but either way rest assured you are not going to miss the bus: a good movement is going to last for several weeks, or months.

Kindest Regards,

Cam
  • #4,431
  • May 4, 2011 4:19am May 4, 2011 4:19am
I appreciate it. Looking back at my trades I was clearly "overprobing".
Learned a valuable lesson and I am now waiting for price to move in Buyzone or Sellzone territory.


Quoting cameron1st
Hello Thijs,

If you don't mind me saying this: it doesn't seem like that EURUSD range is the right place to stack. I know you say "probing" ... but probing too often is actually more like "stacking". Perhaps it would be better to let this week close, to see some direction before trying to add more positions, your choice entirely, but either way rest assured you are not going to miss the bus: a good movement is going to last for several weeks, or months.

Kindest Regards,

Cam
Inflation in things we need, Deflation in things we want.
  • #4,432
  • May 4, 2011 5:08am May 4, 2011 5:08am
Hello,
I was among those interested in the COT discussion here and I still believe it can well help filter trades picked with any method, included what is taught here. It might have escaped me Graeme saying anything is unrelated to HIS thread.
Greetings

[quote=hanselfx;4586177]Greetings Master Graeme and fellow traders

COT reports and unrelated ideas.
Patience is magic
  • #4,433
  • May 4, 2011 8:07am May 4, 2011 8:07am
Quoting geoffrod
Graeme asked me if I would like to share some of my results trading his way with everyone.
Geoff:

Congrats! What were your primary entry methods?
  • #4,434
  • May 4, 2011 9:50am May 4, 2011 9:50am
Quoting geoffrod
Hi to all of you millipedians,
Graeme asked me if I would like to share some of my results trading his way with everyone.
Geoff
Congrats Geoff. I have been busy all week reading Graeme's posts and I am hoping to start a millipede next week. May I ask what % of your account you use for each trade?

Thanks,

Rob
  • #4,435
  • May 4, 2011 1:42pm May 4, 2011 1:42pm
Quoting geoffrod
Hi to all of you millipedians,
Graeme asked me if I would like to share some of my results trading his way with everyone.
I am doing this a little apprehensively as I have seen others get shot down for so called grandstanding, not my intention, I am only doing this because Graeme ask me to.
Congratulations Geoff ! I am reading this thread since last week and I am amazed at the change in outlook that is happening since then. AND I am really glad that other traders show how they apply Graeme´s way of diversifying ( my biggest obstacle to embrace this way of trading until now ). So thank you Graeme and thanks to all other contributors.

I love post # 174, page 12 !

Good trading to all.



____________
michael
Be like water.
  • #4,436
  • May 4, 2011 3:33pm May 4, 2011 3:33pm
Quoting geoffrod
Hi to all of you millipedians,
Graeme asked me if I would like to share some of my results trading his way with everyone.
I am doing this a little apprehensively as I have seen others get shot down for so called grandstanding, not my intention, I am only doing this because Graeme ask me to.

Below is a copy of a PM I sent to Graeme the other day.

[color=red][font=Verdana]Hi...
Congratulations! Results like this really point to the strength and power of this strategy. I hope to have similar results some day.
  • #4,437
  • May 4, 2011 4:15pm May 4, 2011 4:15pm
Hi all,
Firstly a big thanks for all the congrats.
Whilst I am happy with how things are progressing, I realize I am just starting, and whilst nothing I do is rocket science, it can be grueling trying to stay patient and consistent.

“Thanks for the post Geoff. I can see that I'm trying to be too 'perfect' with this all. It has always been a problem with my trading and my character in general. I'm over thinking, over analyzing, and under trading. Thanks again.

All my best,
MK”

Hi MK,
I can assure you there is nothing perfect in what I do, in fact I would regard the majority of my trading as sloppy, with much room for improvement.


“Geoff:

Congrats! What were your primary entry methods?”

Location, my entries are sloppy, I use daily, 4hr, and 5min, not all of them at all times, mainly I am going with the flow of the weekly hindsight, looking for days that just charge forward from the open or there abouts, with some sort of sign on the 4hr or 5min time frame.
Recently I have liked the approach of nomask which can help to make entries much tighter.

“Congrats Geoff. I have been busy all week reading Graeme's posts and I am hoping to start a millipede next week. May I ask what % of your account you use for each trade?
Thanks,
Rob”

Rob
I would say I stay within Graemes guidelines well an truly, more like the extra extra safe ones

Start slow. $1 per pip is my recommendation for most starters. Trust me when I say that with a solid trading approach you will soon (2-4 years) find yourself cashing out extremely large cheques. Although you may groan now and wonder how long it will take, once you arrive you will most likely say that it was a quick journey. Keeping a day job is recommended.

x3000 of your pip value should be available in your trading account:

$3000 then $1 per pip
$6000 then $2 per pip
$30000 then $10 per pip
$60000 then $20 per pip

However, I place extra extra psychological padding by keeping the above figure as the 'bare minimum.' To be extra safe I recommend x9000 of your pip value to be available in your trading account or before upgrading your pip value to the next level. Increased pip value may increase your potential profit but it also increases the potential risk. To increase profit, you need to increase your 'exposure' by have interest in more pairs.


“Congratulations Geoff ! I am reading this thread since last week and I am amazed at the change in outlook that is happening since then. AND I am really glad that other traders show how they apply Graeme´s way of diversifying ( my biggest obstacle to embrace this way of trading until now ). So thank you Graeme and thanks to all other contributors.

I love post # 174, page 12 !

Good trading to all.

michael “

Thanks Michael.

Congratulations! Results like this really point to the strength and power of this strategy. I hope to have similar results some day. Jasonc1213

Thanks Jason
The power is in the patients.

Regards
Geoff
  • #4,438
  • May 4, 2011 5:52pm May 4, 2011 5:52pm
Congratulations on your efforts Geoff.

I'm in the process of creating my first milipeds.

Like you I'm entering on 4H and 1D (no 5 mins entries for me). Do you mind giving us some clues about you're stop loss strategy.

How do you choose what pairs to trade?

Thanks in advance
  • #4,439
  • May 4, 2011 6:10pm May 4, 2011 6:10pm
Quoting geoffrod
Hi to all of you millipedians,
[font=Times New Roman][size=3]Graeme asked me if I would like to share some of my results trading his way with everyone.....
Well done and long may it continue
It's a dirty job but someone's gotta do it!
  • #4,440
  • May 4, 2011 6:51pm May 4, 2011 6:51pm
Quoting geoffrod
Hi to all of you millipedians,
Graeme asked me if I would like to share some of my results trading his way with everyone.
I am doing this a little apprehensively as I have seen others get shot down for so called grandstanding, not my intention, I am only doing this because Graeme ask me to.

Below is a copy of a PM I sent to Graeme the other day.

[color=red][font=Verdana]Hi...
Good on ya Geoff...it takes alot of work and patience to do what you have done. If you could bottle that and sell it you'd be a millionaire because we all could use some of what you displayed.
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