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Building an equity millipede

  • #4,441
  • May 5, 2011 2:03am May 5, 2011 2:03am
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.

[font=Times New Roman][size=3]Below is a copy of a PM I sent to Graeme the other...
Well done and wish you all the best !
  • #4,442
  • May 5, 2011 3:12pm May 5, 2011 3:12pm
Today really hit hard on my open position

The Rise of the dollar all over has hit my positions hard thought im still net in profit and i still have surviving positions.

The days all your positions are rising and you keep stacking are the good days and doesnt really require much as a millipeeder.

You watch your positions slowly build up and then in a matter of hours they are reduced hard. THIS is where i as a trader have to make the right decisions not PANIk.

Millipeeding is profitable

I have my account showing me that BUT the open positions i gotten used to see, got taken out today, some going down from close to 400 pips. But i gotta keep in mind that thoose pips werent mine as long as they are in play they are at the markets mercy.
I have to keep in mind that the setback today was all profits not any losses. And the gain in my account is still awesome adn i wouldnt be there in the first place if i hadnt hold on to my trades!

I've looked over my positions during the day and those that havent stopped out at BE i have decided to keep!

Thru diversification my losses establishing those trades are allready offset so i will just try and forget the trades i have on and any bias i might have. On sunday I will go over the charts and set my battleplan for the next week.

Was just pepping myself thought id share
The universe seems neither benign nor hostile, merely indifferent.
  • #4,443
  • May 5, 2011 3:38pm May 5, 2011 3:38pm
Hey Pip, Good Pepping!!!

these moves just may signal change, which creates opportunities, as you say the pips are the markets until they are banked, so , NEXT, all we can do is continue to participate, have some control over our losses, and let the trend take us with its flow.

it will be an interesting week next week.

cheers
geoff

Quoting Pip_Pirate
Today really hit hard on my open position

The Rise of the dollar all over has hit my positions hard thought im still net in profit and i still have surviving positions.

The days all your positions are rising and you keep stacking are the good days and doesnt really require much as a millipeeder.

You watch your positions slowly build up and then in a matter of hours they are reduced hard. THIS is where i as a trader have to make the right decisions not PANIk.

Millipeeding is profitable

I have my account showing me that BUT the open positions...
  • #4,444
  • May 5, 2011 3:40pm May 5, 2011 3:40pm
Quoting ozziedave
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.
thanks for the kind word dave.
cheers
geoff
  • #4,445
  • May 5, 2011 7:58pm May 5, 2011 7:58pm
Hi Graeme,

Nice to have you back. Your continuing words of wisdom are absolutely appreciated.

I have been following your thread from day 1 and now after approximately 10 months of trying to fit your trading approach into my trading with a very small real money account I can tell you that I finally "see the light"!!!

Due to my day job the lowest timeframe I can go down to is the daily. As my sole entry method I have used the entry rules from the "legendary" Turtle Traders and even with those not even remotely razor-sharp entries I recognized the power of this style of trading.

Besides expressing my gratitude to you I was writing this post to let all other EOD traders in here know that you won't "miss the train" just because you´re not able to trade on the 5 min time frame.

So thank you again for your effort and I can´t wait for your book to be finished...

Take care,
sixx
  • #4,446
  • May 5, 2011 11:55pm May 5, 2011 11:55pm
Hi Geoff, amazing job for a couple of weeks! very well done, go ahead, I plan to seriously follow you.

Quoting geoffrod
Hi Cam,
thanks very much mate

thoses stats are from March20 up until yesterday afternoon.

cheers
Geoff
Patience is magic
  • #4,447
  • May 6, 2011 3:55am May 6, 2011 3:55am
After 2 failed probes of 20 pips each, I finally sold the eur/aud pair at market price 1.3744 before going to bed last night, as the European rate release and Mr Trichet's speech had occasioned a pin bar right at the conjunction of MA 200 and 38.2 fib, for me the must significant fib level. When I checked this morning I was 100+ pips in profit. My SL is now set at 13714. Will re-assess every thing over the week-end. I just hope the rates differential will have a more deeper effect than the falling gold prices to support the Aussie.

Good day,
Muntu
Attached Image (click to enlarge)
Click to Enlarge Name: Spot FX EUR_AUD060511.png Size: 13 KB
Patience is magic
  • #4,448
  • May 6, 2011 4:00am May 6, 2011 4:00am
Quoting sixx58
Hi Graeme,

Nice to have you back. Your continuing words of wisdom are absolutely appreciated.

I have been following your thread from day 1 and now after approximately 10 months of trying to fit your trading approach into my trading with a very small real money account I can tell you that I finally "see the light"!!!

Due to my day job the lowest timeframe I can go down to is the daily. As my sole entry method I have used the entry rules from the "legendary" Turtle Traders and even with those not even remotely razor-sharp entries I...
Hi Sixx,
could u explain how u trade EOD Daily charts?

I am on dayjob too so only can trade US session as during Asian and European session I am at work.
  • #4,449
  • May 6, 2011 10:52am May 6, 2011 10:52am
I'm in.
After a long reading I found it very interesting.

Thanks Graeme and all other contributors.

DV
  • #4,450
  • May 6, 2011 11:59am May 6, 2011 11:59am
Quoting willkohsg
Hi Sixx,
could u explain how u trade EOD Daily charts?

I am on dayjob too so only can trade US session as during Asian and European session I am at work.
Hi,

I just sent you a p.m. as I don't want to clutter Graeme's thread...
  • #4,451
  • May 8, 2011 1:34am May 8, 2011 1:34am
Hi there.

First of all thank you to Graeme and all the members for the contribution to this wonderful thread.

I'm trying to catch up starting from the beginning, and started experimenting the system with a real 500Eur account with 0.01 trades.

I was so lucky to get the EURUSD "almost" max when entering short on last week brekout, and added some more position (legs) to that.
Now, I don't whant to talk about how hard is to me keeping a >800Pips trade open (and fortunately it is 0.01....or I would have close it for sure ^_^) the reason why it is so tough for me to keep it opened is that is not clear to me what are the exit rules.

What am I supposed to do if tomorrow the EU bounces back to 1.45 or 1.47? Should I really stay there looking at my legs dying?
If yes, can please someone come here to twist my arms behind my back so that I can possibly do it

I'm pretty sure the answer is somewhere in this long thread, but despite my effort to read everything from the beginning I just did not found it clearly stated.

Graeme, in your first set of thread you mention somewhere you have som EURUSD legs opened from 1.60 (more or less)......EU went to 1.20, then went back to almost 1.50. What happened to that legs? Are them still opened or did you closed them somewhere along the way?

Best
Francesco
  • #4,452
  • May 8, 2011 4:58am May 8, 2011 4:58am
Hello Frankjibe,

There are a number of posts about exits, but here are two of them which might help clarify what we are aiming for:

http://www.forexfactory.com/showpost...postcount=3718

http://www.forexfactory.com/showpost...postcount=3721

Kindest Regards,

Cam
  • #4,453
  • May 8, 2011 2:09pm May 8, 2011 2:09pm
Hi Graeme,

After being somewhat losing / breakeven trader for a couple of years, last week I have experienced something I never thought possible - my equity was more than double than my balance! Usually I would have exactly the opposite, closing small profits and hoping to close remaining losses on breakeven (usually didn't happen). But now, thanks to you and things you laid out here, I'm able to enjoy some financial success. Its only the very beginning, my entries are sloppy as a wet mop, but still, I feel I am getting somewhere. Thanks a lot and see you at the profit door
  • #4,454
  • Edited 10:19am May 9, 2011 8:22am | Edited 10:19am
I have often found that having not respected 1 or more of the 4 cardinal rules of trading brought me problems:

1-trade with the trend
2-cut losses short
3-let profits run
4-never average down.

I agree , they are easier stated than followed, but maybe you should check if you really sticked to all.

All the best

muntu


Quoting frankjibe
Hi there.

First of all thank you to Graeme and all the members for the contribution to this wonderful thread.

I'm trying to catch up starting from the beginning, and started experimenting the system with a real 500Eur account with 0.01 trades.

I was so lucky to get the EURUSD "almost" max when entering short on last week brekout, and added some more position (legs) to that.
Now, I don't whant to talk about how hard is to me keeping a >800Pips trade open (and fortunately it is 0.01....or I would have close it for sure ^_^) the reason why it...
Patience is magic
  • #4,455
  • May 12, 2011 11:11pm May 12, 2011 11:11pm
Outstanding thread. Thank you.
  • #4,456
  • May 14, 2011 1:17pm May 14, 2011 1:17pm
In post #684 pipEasy wrote:

"Human perception and focal interpretation is very interesting. You will only believe what you choose to see. And you cannot do any type of ‘choosing’
in the markets, only follow it.
The dancing girl on the bottom revolves left or right?

http://img205.imageshack.us/img205/1036/braintest.gif
This is similar to what happens in traders focal interpretation. They use same indicators, trendlines, fibs but some days they see the dancing girl
spinning left and some days they see the dancing girl spinning right."

There should be no choosing the direction of the rotation. The girl clearly rotates left. http://www.forexfactory.com/images/icons/icon12.gif
  • #4,457
  • May 16, 2011 3:57am May 16, 2011 3:57am
This is a GREAT thread!!
I am currently still on page 37
Hope to finish all the posts on this thread soon
  • #4,458
  • May 16, 2011 8:02am May 16, 2011 8:02am
Quoting MephistoII
Thanks to you also, Pips Fari. I can't seem to get the current one to configure exactly as I had hoped, so will check out this version for comparison as well.

Regards ... meph

Edit: Now we're cookin' w/ gas! The 'dot' version provides the dashed daily bars, while the other paints the solid H4 bars, both overlaid on the H1 chart. Now very easy to view, and great for seeing previous days OHLC. Thanks again !
Hi Mephisto,

Could you pls be so kind and attach "candles_m-Candles.dot.mq4" indicator as the only web page which were keeping that indi is down and I'm not able to download it.

Thanks in advance.

Happy piping to All.

Cheers
Mike
  • #4,459
  • May 16, 2011 8:08am May 16, 2011 8:08am
Quoting pipEASY
Good afternoon, all

Thank you for the warm compliments.

From the recent messages, there are currently 3 traders with a firmly established portfolio of positions spread out across various pairs. All 3 traders currently hold at least 8 open positions each. Positions range from smaller 150 pips to larger at over 1000 pips. From the statement received one particular trader has settled most of his debt/losses incurred.

It does not matter if these accounts are live or demo. It is thrilling to see that traders are taking advantage of the main movement...
Good Afternoon Graeme,

I would like to say many, many thanks for your great thread which is leading us to new horizons in trading understanding and approach.

I stumbled on this thread few days ago and was reading it with great interest.

I wish you and your family all the best.

Have good day.

Kindest regards
Mike
  • #4,460
  • May 16, 2011 6:53pm May 16, 2011 6:53pm
Hello Graeme,

Thank you for the great thread. I have only read so far to page 58 but can already see so much potential in the small initial risk with large long term gain.
I will start demo trading asap, & look forward to finishing reading the thread & seeing more of your posts
Regards Bidgy
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