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  • #4,821
  • Aug 17, 2011 9:53am Aug 17, 2011 9:53am
Trades entered @ 1.64 stopped out @ BE
Trades entered @ 1.65 @ BE.
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  • #4,822
  • Aug 17, 2011 12:45pm Aug 17, 2011 12:45pm
I'd like to say "thanks" to Graeme for this excellent thread. Too bad he seemingly isn't active anymore. But still... it has been an inspiration.
  • #4,823
  • Aug 18, 2011 11:27am Aug 18, 2011 11:27am
After 3 days of trading using Graeme's guideline.

Total trades taken - 24
Total BE trades - 18
Total SL hit - 1
Total positions in profit that stayed open overnight - 5
Total growth of account - 26% (can't say exact pips since I trade commodities as well).

I am not using FBs or 200 ema or any of those for the matter of entry, but I've developed my own method of entry derived from trying 3 X20 exercise, which has been really successful.

I would like to thank Graeme for his wonderful teachings and his posts are inspirational not only in terms of trading but on many other aspects of live.

I have read the whole thread and it appears that too much of emphasis is given on understanding Flying Buddhas and 200 ema etc entry methods in the later part of the thread. I believe the real success comes from 3 X20 exercise and patience. Graeme always wanted people to find their own entry method using 3 X20 exercise but it looks hardly anybody bothered with it and since missed all the related discoveries he mentioned more than once.

Its too early to say I've achieved a mastery on razor sharp entry method but then I've discovered many interesting facts while doing 3X20 exercise and improved my focal interpretation exponentially.

The whole purpose of my post is to keep people's faith in long term growth and 3X20 exercise.

Sorry for the long post and I wish all good luck in your future.
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  • #4,824
  • Aug 18, 2011 11:29am Aug 18, 2011 11:29am
Under the present market conditions, especially Eur /Usd, many legs keep dying at BE. Perhaps this is the test of the time one has to withstand, I guess.

Anyone has any better luck? could you share your recent /current trading exercises with this approach.

Thanks
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
  • #4,825
  • Aug 18, 2011 12:32pm Aug 18, 2011 12:32pm
Quoting TradeStar
Under the present market conditions, especially Eur /Usd, many legs keep dying at BE. Perhaps this is the test of the time one has to withstand, I guess.

Anyone has any better luck? could you share your recent /current trading exercises with this approach.

Thanks
TS
Hi TS,

On E/U I have only a short since 1.4490, just a probe for now, might add more next week depending on the market conditions.

Kindest Regards,

Cam
  • #4,826
  • Aug 19, 2011 7:39am Aug 19, 2011 7:39am
Hey all,
have had a major issue with my laptop and my memory stick and everything I had cut and pasted was corrupted somehow so now I'm back to square one, was at page 250, I am a student so I was mainly going through Mr Pipeasys posts and other contributers with something decent to say and saving it all for when I have more spare time, so what I am getting at is has there been any news on the book or am I better off going through the cut paste cut paste scenario again, and how are you all getting on with the milipede lifestyle, thanks and peace..
"The probable is what usually happens." Aristotle
  • #4,827
  • Aug 19, 2011 9:07am Aug 19, 2011 9:07am
Quoting forex_fan
After 3 days of trading using Graeme's guideline.

Total trades taken - 24
Total BE trades - 18
Total SL hit - 1
Total positions in profit that stayed open overnight - 5
Total growth of account - 26% (can't say exact pips since I trade commodities as well).
Yeah, I hit about 40% in 4 days. But it's mostly luck, I don't expect to keep such success in time, not yet. Apart from the luck there is that monthly trend on the XAU chart...
  • #4,828
  • Aug 19, 2011 10:12am Aug 19, 2011 10:12am
Quoting Barbossa
Yeah, I hit about 40% in 4 days. But it's mostly luck, I don't expect to keep such success in time, not yet. Apart from the luck there is that monthly trend on the XAU chart...
It's luck and it always will be luck since no one knows for sure which direction market will go in next few minutes, hours or days.

Only thing we can do is to participate with low risk entries and that's what I meant in my post. I've been doing 3 X20 exercise for a while now and able to get almost above 70% BE, which helps me avoid any huge draw-down before I get those lucky long runs.

That way, I'm never in risk of more than 1% while my potential profits are 26%, 40% or 100%.
  • #4,829
  • Aug 19, 2011 5:29pm Aug 19, 2011 5:29pm
Quoting forex_fan
After 3 days of trading using Graeme's guideline.

Total trades taken - 24
Total BE trades - 18
Total SL hit - 1
Total positions in profit that stayed open overnight - 5
Total growth of account - 26% (can't say exact pips since I trade commodities as well).

I am not using FBs or 200 ema or any of those for the matter of entry, but I've developed my own method of entry derived from trying 3 X20 exercise, which has been really successful.

I would like to thank Graeme for his wonderful teachings and his posts are inspirational not only in terms...
Hi forex fan

I have been lurking on this thread for quite some time now and have been testing out this method on a very small Oanda account. I gained faith in this system when I managed to nail down a few trades that are now around the 3,000/ 2,000 pip area. This was done despite some very sloppy entries so your post was very timely for me. I will be returning to the 3 x 20 exercise next week to learn to improve my entries.

Thanks for the reminder
With wisdom comes humility. With humility comes wisdom!
  • #4,830
  • Aug 19, 2011 8:34pm Aug 19, 2011 8:34pm
Quoting forex_fan
It's luck and it always will be luck since no one knows for sure which direction market will go in next few minutes, hours or days.

Only thing we can do is to participate with low risk entries and that's what I meant in my post. I've been doing 3 X20 exercise for a while now and able to get almost above 70% BE, which helps me avoid any huge draw-down before I get those lucky long runs.

That way, I'm never in risk of more than 1% while my potential profits are 26%, 40% or 100%.
hi, forex_fan, would you please setup a new demo account and link it to FF's trade explorer? then everybody can watch your practice results and discuss based on that. that will improve each other.
  • #4,831
  • Aug 20, 2011 7:48am Aug 20, 2011 7:48am
Anybody in contact with Graeme? Hope he is in good health. Great teacher. Salute.
  • #4,832
  • Aug 20, 2011 3:52pm Aug 20, 2011 3:52pm
Quoting bobowang
hi, forex_fan, would you please setup a new demo account and link it to FF's trade explorer? then everybody can watch your practice results and discuss based on that. that will improve each other.
I normally trade on my live account and will share the outcomes of my trading from time to time if that's going to help.

I believe given the same method or system, every trader will have different results and therefore it is vital to develop your own trading strategy based on the principal of long term growth.

I still suggest to at least give 1 month if not 6 months for 3X20 exercise and after a month just calculate the total pips or profit if you didn't close those winning trades.

Good luck.
  • #4,833
  • Aug 20, 2011 4:40pm Aug 20, 2011 4:40pm
I have been following your tread for the past three years, and have found it immensely helpful. Graeme, you are a true gentlemen with principles. Your way of explaining in a simple language makes it very understandable. Thank you for sharing all this information with us.

Can I ask one question, Why don't you take the profit whilst it is there, instead of waiting for a millipede to develop. Sometimes the price retraces, and you lose all the profit that you may have accumulated. Also, do you have any favourite pairs that you tend to use for your trading.

Graeme, have you completed the book 'Building an equity millipede' yet? How can I get hold of this book?

Once again, thank you for all your selfless guidance and all the time you have spent for us.

Best wishes

Mytrader
  • #4,834
  • Aug 20, 2011 5:56pm Aug 20, 2011 5:56pm
good day guys ,, any news about Graeme. is he alright.? if some 1 has any updates about him just share plzzzz.
  • #4,835
  • Aug 23, 2011 4:31am Aug 23, 2011 4:31am
Graeme and all contributors to this thread

Thank you for all your input and help.

I have just finished reading the thread for the third time.

1st effort, off I shot thinking "great idea - this will be easy" - went down in flames.

Re-read, and started doing Graeme's exercises (3X20), but followed to literally, entering without understanding price movement, and then thought "I cant trade on 5 minutes so I can never make this work". So went off to other threads to find the perfect 5 minute entry method that would complement Millipeeding - couldn't find one.

Then this latest read through and and a number of things clicked into place (for me) - I DON'T need to be a 5 minute trading guru, and I DON'T need to rush in every 15 minutes of the day.

I do need to participate sensibly, and go with the lowest risk opportunity as best as I can see it - and using a close below a previous up candle / above a previous down candle is a simple and effective way it seems to enable participation.

Graeme's post #4289 then made me realise, "I am overcomplicating things, therefore getting frustrated, therefore getting nowhere!"

In essence what I believe Graeme was saying was "Keep It Simple".

Then Graeme's post #4379 cemented my thinking, with the excellent example of one of the thread followers using a controlled approach.

I therefore need to go away and work out the best approach for me.

Thank you once again for creating the pathway on which I can hopefully step along.

And if Graeme is looking to release the book he has mentioned, I would be more than happy to make a contribution to a charity of his choice.

Regards
  • #4,836
  • Aug 23, 2011 5:51am Aug 23, 2011 5:51am
Reading the last few posts makes me wonder
Will have to start from scratch, never mind
Hope Graeme is ok
"The probable is what usually happens." Aristotle
  • #4,837
  • Aug 23, 2011 2:48pm Aug 23, 2011 2:48pm
This is a very good thread. I like the idea of trading the longer term charts.
  • #4,838
  • Aug 26, 2011 1:25am Aug 26, 2011 1:25am
Quoting mytrader
I have been following your tread for the past three years, and have found it immensely helpful.
Mytrader

The thread has been around only for a little over an year !
  • #4,839
  • Aug 26, 2011 2:16am Aug 26, 2011 2:16am
Hi Emjay

I meant to write that I had read the thread three times. Thank you for pointing out my error.

Many thanks.
  • #4,840
  • Aug 27, 2011 12:28pm Aug 27, 2011 12:28pm
Quoting cameron1st
Hi Vee,

Not sure how the replies to this question are useful, but hey, since you want opinions:

The lagging comes from comparing the various instruments available at our disposal:

Price itself is just a number, so I would consider it the fastest information, Price action is the action of price (more commonly in the form of candles/bars/line), and then you have the indicators which are lagging behind the likes of candlesticks (because they need more information in order to show their signals, by comparison you can have a 1 candle signal...a...
Appreciate your response Cam... every bit of opinion is helping me think and finetune myself as a person and trader. I understand and agree that price action 'analysis' is far superior than analysis based on a bunch of indicators.

Having said that, if a entry 'system' is solely based on close of candle, then won't the lagging indicators have the same or similar effect on price action based entries (if we ignore everything and focus solely on entries for a moment) ??

p.s. This thought is provoked by Graeme's posts on using commonly used indicators to find areas to piggyback other traders.
Staying in my lane...
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