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Building an equity millipede

  • #4,981
  • Nov 3, 2011 11:32pm Nov 3, 2011 11:32pm
Quoting VEEFX
Here are my two millipedes (zero risk and all losses covered)
I did not stack aggressively due to current turmoil in euro zone.
Attachment
Wow, that's awesome! So you have 1 mini-lot on each trade, or have you built up multiple lots?
  • #4,982
  • Nov 4, 2011 12:30am Nov 4, 2011 12:30am
Quoting scottymoll
Wow, that's awesome! So you have 1 mini-lot on each trade, or have you built up multiple lots?
Just one mini lot for each pair. I diversified a few short term legs on both pairs to make this a net zero risk/loss position. I don't actively monitor these two at all as I am earning net positive swap also while I simply wait for these to grow or die at BE. CHF is still safe haven for me
Staying in my lane...
  • #4,983
  • Nov 4, 2011 1:03am Nov 4, 2011 1:03am
Quoting VEEFX
Just one mini lot for each pair. I diversified a few short term legs on both pairs to make this a net zero risk/loss position. I don't actively monitor these two at all as I am earning net positive swap also while I simply wait for these to grow or die at BE. CHF is still safe haven for me
Are you still actively trading then, or just letting those two positions run? My next step is to open a sub-account with MB Trading so that I can start taking both short and long positions. I really enjoy this strategy and see the HUGE potential it offers for those who are patient. I like the fact that each trade consists of risking such a small amount, but when stacked correctly with good price movement, the rewards can be staggering. Not to mention, I don't have to sit at my computer alllll day long.
  • #4,984
  • Nov 4, 2011 1:51am Nov 4, 2011 1:51am
Quoting scottymoll
Are you still actively trading then, or just letting those two positions run? My next step is to open a sub-account with MB Trading so that I can start taking both short and long positions. I really enjoy this strategy and see the HUGE potential it offers for those who are patient. I like the fact that each trade consists of risking such a small amount, but when stacked correctly with good price movement, the rewards can be staggering. Not to mention, I don't have to sit at my computer alllll day long.
I have been very selective in my trading this year (approx only about 20% of last year's $volume) as my goal is to end this year with green pips for the first time since I began trading FX. Thanks to Graeme, I am on my way to success

If I freeze my floating pips, I could end this year in profit.
Staying in my lane...
  • #4,985
  • Nov 4, 2011 1:57am Nov 4, 2011 1:57am
Quoting VEEFX
I have been very selective in my trading this year (approx only about 20% of last year's $volume) as my goal is to end this year with green pips for the first time since I began trading FX. Thanks to Graeme, I am on my way to success

If I freeze my floating pips, I could end this year in profit.
Congrats! I have realized that "less is more" with this method. No need to trade all day, every day. I have made 6 trades this past week. 2 trades are still open and have a profit of about 300 pips, 2 stopped at b/e, and 2 stopped at -20 pips each. This is so different from how I've tried to trade in the past. I probably would have been in and out of positions all week long and racked up a lot of small gains, small losses, and b/e's. It's not worth the stress to me anymore. I'm content with watching my positions grow and add to them when I can (with extremely small risk of course). I'm so excited to put the power of compounding to work and take my account to dazzling new heights!
  • #4,986
  • Edited 7:09pm Nov 5, 2011 9:57am | Edited 7:09pm
I am going to start the weekly project that Graeme encouraged us on and would post the progress on the project. If there is interest among others to also participate in this project, please feel free to post your analysis, trades and performance.

Pair - EURUSD.

Realistic Expectation - Weekly Chart. 150+ pips as minimum.
HindSight - Downtrend after englufing candle.

Analysis - Last week candle was good momentum right from the open. The price did retrace and close at around 50%. This was also the first week of the month and price has closed last month at 50% of the down candle after bouncing off the monthly open.

Anticipate - Since price is at 50% of the candle, I anticipate price to continue south with a volatile breakout. However I also anticipate price to somewhat retrace before exploding south with a volatile force. This being the start of the month, I anticipate price to close the month as a big bold red candle.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Weekly 2011.11.05.jpg Size: 110 KB
  • #4,987
  • Edited 11:07pm Nov 5, 2011 12:55pm | Edited 11:07pm
Dear Fellow traders,

I plan to slow down my participation in this thread/forum. I still have several portions of my trading plan that I need to solidify in regards to implementing this approach but they will come to me eventually with my own hard work and devotion. I have learnt a lot from this thread and fellow participants and thanks to everyone who took the time and patience to address all my questions and discuss topics of interest.

I am attaching a complete log of Graeme's posts in this thread for the convenience of new readers. These posts have helped my mindset significantly in becoming a better trader and most importantly a better human being.

I feel a bit responsible for cluttering this thread so here's my gift to all who are lost or don't have the patience to read the entire thread. I wish you all good luck in your journey. Mine began late last year since I ran into this thread and will go on for a very long time to come.

Feel free to email/PM me if you wish to stay in touch.

Good Luck !!!

p.s. - download the zip file, open each html file in your browser and save it on your local drive as a .webarchive or .mht file. This step will remove dependency on the imageserver that Graeme used.
Attached File(s)
File Type: zip Graeme Posts Only.zip   657 KB | 2,459 downloads
Staying in my lane...
  • #4,988
  • Nov 5, 2011 2:41pm Nov 5, 2011 2:41pm
Quoting VEEFX
Dear Fellow traders,

I plan to slow down my participation in this thread/forum. I still have several portions of my trading plan that I need to solidify in regards to implementing this approach but they will come to me eventually with my own hard work and devotion. I have learnt a lot from this thread and fellow participants and thanks to everyone who took the time and patience to address all my questions and discuss topics of interest.

I am attaching a complete log of Graeme's posts in this thread for the convenience of new readers. These posts...
Thanks Veefx and good luck in your journey too.

Regards
Bak
  • #4,989
  • Edited 3:32pm Nov 5, 2011 3:09pm | Edited 3:32pm
Quoting Eklavya
I am going to start the weekly project that Graeme encouraged us on and would post the progress on the project. If there is interest among others to also participate in this project, please feel free to post your analysis, trades and performance.
Very good initiative, Eklavya. This wonderful, full of wisdom thread needs to live. Suppose Graeme would have encouraged us to continue and progress as traders with his system.

Awaiting further posts. Good luck!
  • #4,990
  • Nov 6, 2011 2:42am Nov 6, 2011 2:42am
[quote=Eklavya;5105118]I am going to start the weekly project that Graeme encouraged us on and would post the progress on the project. If there is interest among others to also participate in this project, please feel free to post your analysis, trades and performance.

I am in agreementwith what you say.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurusd mp.gif Size: 34 KB
  • #4,991
  • Edited 9:03pm Nov 6, 2011 4:56pm | Edited 9:03pm
Eur/Usd
I'm paying attention to these ascending wicks on the daily chart. I'd like to see a volatile breakout below this line in the near future, though I anticipate a move higher in the short term. I'm a little confused as to how to approach it right now as far as entries, being that the daily and weekly disagree somewhat. I know Graeme wrote of this, though I can't seem to find it right now. Any thoughts?
Attached Image (click to enlarge)
Click to Enlarge Name: e:u daily.jpg Size: 188 KB
  • #4,992
  • Nov 6, 2011 9:35pm Nov 6, 2011 9:35pm
Quoting farmerellis
Eur/Usd
I'm paying attention to these ascending wicks on the daily chart. I'd like to see a volatile breakout below this line in the near future, though I anticipate a move higher in the short term. I'm a little confused as to how to approach it right now as far as entries, being that the daily and weekly disagree somewhat. I know Graeme wrote of this, though I can't seem to find it right now. Any thoughts?
Hi Farm,
If I may, I would recommend to keep it simple. Yes, there are ascending wicks on the daily and is in conflict with the weekly. I would suggest pick one hindsight and stick with it for a few candles.
So lets look at your daily chart. if you choose daily to be your battleground, then your hindsight is long. If hindsight is long, and you have wicks, your entries will need to be in the areas of the lower wicks or once the price breaks out higher of the top wicks.

Here is the Graeme post I believe you are talking about.
http://www.forexfactory.com/showthre...42#post4000242
  • #4,993
  • Nov 6, 2011 9:48pm Nov 6, 2011 9:48pm
Thanks Eklavya,
That makes a lot of sense. Thanks for pointing me to Graeme's post on this. I may look for some long entries at the base of these daily wicks, but I think the weekly engulfing candle trumps it for now, so my hindsight is short for the longer term. I appreciate the idea of keeping it simple, though it is often easier said than done.
  • #4,994
  • Nov 6, 2011 10:37pm Nov 6, 2011 10:37pm
What can I say... I am in the mood to share today!

http://technet.microsoft.com/en-us/s...rnals/cc817881

Here's a nifty tool published by the techies @ Microsoft which creates four virtual desktop spaces on your laptop. It should come handy to those like me who don't like to clutter the screen with applications that cause distraction while trading. You can also use this tool to run multiple instances of the same MT4.

Caution: Use at your own risk! It works well on Vista running on Intel core 2 duo and 4GB RAM... not sure about OS versions.
Staying in my lane...
  • #4,995
  • Nov 6, 2011 10:43pm Nov 6, 2011 10:43pm
[quote=RED-Dragon;5105845]
Quoting Eklavya
I am going to start the weekly project that Graeme encouraged us on and would post the progress on the project. If there is interest among others to also participate in this project, please feel free to post your analysis, trades and performance.

I am in agreementwith what you say.
Hey Red,

If I recall, you were the first to reach the 1000 pip milestone earlier this year. You should really start a journal and share the wealth of experience you have gained from this thread.
Staying in my lane...
  • #4,996
  • Nov 7, 2011 12:43am Nov 7, 2011 12:43am
[quote=VEEFX;5107521]
Quoting RED-Dragon

Hey Red,

If I recall, you were the first to reach the 1000 pip milestone earlier this year. You should really start a journal and share the wealth of experience you have gained from this thread.
Hi Vee
At some point, I will share what has and has not worked for me.
I can definately say for me the keys are:
Participation,
and even more so 80 20 rule, 20% method and 80% psychological.
I only focus on two or 3 pairs and seem to easily to be able to get 4000- 7000 pips up, and I am still working on how is best for ME to diversify.
I had been swayed out of my EURAUD and GBPJPY positions from november last year, in hindsight I would still have those legs open and in good profit, My EURUSD I would have no legs still alive.

Trading like this with PA is definately the way to go.
  • #4,997
  • Nov 7, 2011 8:55am Nov 7, 2011 8:55am
Quoting Eklavya
I am going to start the weekly project that Graeme encouraged us on and would post the progress on the project. If there is interest among others to also participate in this project, please feel free to post your analysis, trades and performance.
Here is my first update. 5 Attempts. 2 BE. Total loss 20 pips.
Hindsight still in place. Would look for shorts at 3850 area.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Update 1.jpg Size: 100 KB
  • #4,998
  • Nov 7, 2011 12:28pm Nov 7, 2011 12:28pm
Quoting Eklavya
Here is my first update. 5 Attempts. 2 BE. Total loss 20 pips.
Hindsight still in place. Would look for shorts at 3850 area.
Hindsight, anticipation, price interpretation is all just subjective to your own descretion. What you see, I may not see and that is what makes this market so unique and challenging to trade. please ignore my comments if you have a strong conviction or if they cause distraction to your weekly plan.

Aren't we range trading on H4??? I see about 8 engulf bars on your chart and 5/10 ema just hugging/making out. Price is going no where... a strong indication to wait for price to break out of the outside bands highlighted in your screenshot!!!

4-5 trades on the first day of the week (regardless of how small losses or BEs you had) is simply over trading! It is just Monday so take a break! IMHO, you are trying to suck blood out of stone.

I am staying out of E/U regardless of what the weekly hindsight says. There are better pairs to focus this week i.e. GBPCHF.. already locked in 200+ pips on H4 when price reached to new high for the week about an hour ago.

Happy trading!
Staying in my lane...
  • #4,999
  • Nov 7, 2011 1:03pm Nov 7, 2011 1:03pm
Quoting VEEFX
I am staying out of E/U regardless of what the weekly hindsight says. There are better pairs to focus this week i.e. GBPCHF.. already locked in 200+ pips on H4 when price reached to new high for the week about an hour ago.

Happy trading!
Good trade VEE. CHF pairs look ready to push higher. I will be focusing on AUDCHF should the daily candle close where it is now or higher.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #5,000
  • Nov 7, 2011 2:03pm Nov 7, 2011 2:03pm
Quoting VEEFX
Hindsight, anticipation, price interpretation is all just subjective to your own descretion. What you see, I may not see and that is what makes this market so unique and challenging to trade. please ignore my comments if you have a strong conviction or if they cause distraction to your weekly plan.

Aren't we range trading on H4??? I see about 8 engulf bars on your chart and 5/10 ema just hugging/making out. Price is going no where... a strong indication to wait for price to break out of the outside bands highlighted in your screenshot!!!

4-5...
Thanks for the feedback Vee. Here is what the 5 min chart looked like when I was trading. We were just coming from a 4 Hr Pin Bar right from resistance. We just had a 1 hr engulf bar. There was strong momentum south. It is unfortunate that we ended up making a higher low and that was the end of my stacking for the day. The price did however break the flag on the 4 hr after I went to bed but it bounced back up again which made me attempt once more that went +35 pips before BE.

My hindsight for the first 4 trades was 1hr and for the 5th was 4 hr. If the price had carried on down from the EU session, we would have had a classic breakdown. Didn't happen and I controlled my losses.

After Monday's action, I will now wait for price to break out. But again depending on how price behaves, I might again probe a couple at the top edge of the band. I will however not enter short at the bottom edge of the band anticipating an upward bounce. Once it breaks down, I will enter with flow.

You rightly said, this is all subjective. The best one can do is control losses and enter tightly and logically.

Very good job on the GBPCHF. What entry method did you use? What is your goal from those entries? When you say locked in you mean Floating profit with all at BE right?
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD Day 1.jpg Size: 202 KB
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