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  • #5,041
  • Nov 23, 2011 1:33am Nov 23, 2011 1:33am
Hi,

I would like know, does anyone uses the Swingman Flying Buddha? If yes, how is the performance so far?

Thanks and Regards,
Judy
  • #5,042
  • Edited 7:10am Nov 23, 2011 6:36am | Edited 7:10am
Guys,

I know many of us are struggling with entries. I know I still am. It is one thing to believe that losses are okay and they truly are. What is not okay is unnecessary losses. The one thing that I think will help make better entries is telling yourself that IT IS OKAY TO MISS AN ENTRY. YOU MISS IT YOU MISS IT. THERE WILL BE MORE. Graeme has also mentioned this a few times. This is helping me a lot.

Please try this out and see if it helps in you entries.

PS. We need to be careful here as well. The above should not make us fearful at the time of pulling the trigger but should make us think if we are chasing an entry or if we are entering too early or if this is truly an entry we want to take.
Some of the things that can help decide -
1. Am I comfortable with the stop loss size in pips relative to the timeframe I am trading?
2. Will I enter again if my stop loss gets hit? If so, under what condition. The answer to this will usually be NO if you have a higher timeframe confirmation and your stop size on the current timeframe is small.
3. Do I have a higher timeframe confirmation for the entry. If not, do i still want to enter at this given stop size.
4. Can I reasonably expect a better entry. If I don't get one, I will have to wait but its okay to do so.
  • #5,043
  • Nov 23, 2011 8:39am Nov 23, 2011 8:39am
I have lurked for long eenough!!! just wanted to pitch in and say hello and contribute..

I noticed people saying they struggle with entry I have found quite the opposite. I have found it too to easy to enter trades. Allow me to explain. when i first tested some of the principles I knew they would work so I tried them on every mkt on every pair and guess what??

A Blown demo account, this however was a really good thing as it taught me some of the characteristics of the methods used. But this was and still is time and practice. lots of it… 4 years in my case.

Now I have learned a few things I know these methods work, however I must use them in a strategic way so:

First pick the best trending pair (see my chart) then use simple technique such as flying B, daily open, .00 entry, 4 hour break out to participate

Second, adapt, modify these methods to make them work for you. (see my gbp.jpy) this was a combo, 4 hour range break out, price below daily open. In addition the maxim that Graeme provided us with buy if its up & sell if its down. Simple

Thirdly, I should say that i am finding it difficult to have trades in both directions i find it easier just being short on one pair ratehr than short and long. but this is an aspect i am practising.

Finally, this is just my interpretation and just wanted to thank Graeme for taking time and effort to explain to us..

thanks
RS
Attached Image(s) (click to enlarge)
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  • #5,044
  • Nov 23, 2011 9:22am Nov 23, 2011 9:22am
I have just re-entered this mkt , please see chart. some might spot why i entered. just on the issue of stacking i try and stack over days rather than hours or minutes, just cause it feels more comfortable for me.
best
RS
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  • #5,045
  • Edited 4:05am Nov 24, 2011 3:51am | Edited 4:05am
This is my attempt at a long, it was based on a mechanical entry method...
not sure if this is the prescribed way of diversifying...
best
RS
Attached Image (click to enlarge)
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  • #5,046
  • Nov 24, 2011 4:19am Nov 24, 2011 4:19am
Quoting Revstar
This is my attempt at a long, it was based on a mechanical entry method...
not sure if this is the prescribed way of diversifying...
best
RS
Eh...what are you doing ? It seems to me like you are writing your trade journal in this thread
  • #5,047
  • Nov 24, 2011 4:47am Nov 24, 2011 4:47am
I was under the impression, most probably wrongly, that people are sharing their trading experience with Greames methods. I just wanted to illustrate some of my trades with this method for critique or comment for the good of everyone.
best
RS


Quoting cameron1st
Eh...what are you doing ? It seems to me like you are writing your trade journal in this thread
  • #5,048
  • Nov 24, 2011 6:58am Nov 24, 2011 6:58am
Quoting Revstar
I was under the impression, most probably wrongly, that people are sharing their trading experience with Greames methods. I just wanted to illustrate some of my trades with this method for critique or comment for the good of everyone.
best
RS
Well don't stop on my account, I was only trying to understand what is going on. If you expect feedback on those charts, in my opinion it would only matter if Graeme replied himself, whatever me or anyone else would say this method was brought to us by Graeme and only him knows the full extent of it. The rest of us use elements of the method, but not 100%.

Besides, the best review you can have is by yourself, keep a journal, look at your stats, think how you could have done better, write stuff down, remember it for next time. That is how you improve as a trader, empirical observation, not by watching other people's charts and comments.
  • #5,049
  • Nov 24, 2011 7:14am Nov 24, 2011 7:14am
Agreed about not using methods in a matter of fact type way.
I always find, i'm not sure about others, that actually seeing charts helps me to understand the mechanics of a thought that went into the trade/s. I may interpret somethin slightly different from the next person. I dont 'expect' feedback, but to merely provoke thought and discussion.
best
RS


Quoting cameron1st
Well don't stop on my account, I was only trying to understand what is going on. If you expect feedback on those charts, in my opinion it would only matter if Graeme replied himself, whatever me or anyone else would say this method was brought to us by Graeme and only him knows the full extent of it. The rest of us use elements of the method, but not 100%.

Besides, the best review you can have is by yourself, keep a journal, look at your stats, think how you could have done better, write stuff down, remember it for next time. That is how you improve...
  • #5,050
  • Nov 24, 2011 7:19am Nov 24, 2011 7:19am
Quoting Revstar
I dont 'expect' feedback, but to merely provoke thought and discussion.
best
RS
That's really appreciated. Otherwise in Graeme's absense thread looks dull and dead. Keep good provoking method discussion.

Rgds,
Alexander
  • #5,051
  • Nov 25, 2011 4:05am Nov 25, 2011 4:05am
Quoting AlexanderSV
That's really appreciated. Otherwise in Graeme's absense thread looks dull and dead. Keep good provoking method discussion.

Rgds,
Alexander
Thanks for the encouragement/feedback Alexander.

I will keep posting charts as I trade, so long as they maintain integrity to the thread and its creator.

The market tanked this morning, now recovered and its so so pleasing not to have to chase the market, once a few positions are in place working as per previous charts.

One aspect i am grapling with is entering near the open of the daily candle (london) as per Greame post 4 .
Quote
It is at the near the top… Near the open of the daily candle. This insures that you catch the major move of the day + highest probability that the position will survive the pullbacks of next day (and the next 2-3 years hopefully).
.

I will post my experiences soon, I have been stopped out the times i have tried.
best
RS
  • #5,052
  • Nov 25, 2011 5:05am Nov 25, 2011 5:05am
Quoting Revstar
One aspect i am grapling with is entering near the open of the daily candle (london) as per Greame post 4 .
Hi, RS.

On that tactics of entering right at the start of Daily/Weekly/Monthly open, with certain small SL dependent on pair, I remember Graeme wrote he is using 15pp SL for EURUSD, and at those times when candle forms with little or no opposite wick return rate can be awesome.

At this time I don't employ this particular tactics for myself.
However looking at EURUSD D1 chart I can easily find at least 2-3 D1 bars (in a month) with wick less than 15 pp, bars, which ended as solid directional candles of 130+ pips range.

Finding viable settings for each pair using this method would require extensive testing and statistics analysis. But one thing is for sure - entering either two opposite positions right at the start of D1 candle (not London session start, but start of D1 candle) with small SL, or entering at the start of D1 with only one position in direction of hindsight with small SL, at times able to produce enough pips to be a worthwhile practice for all previous and future attempts.

And knowing statistics that there are on average say 2-3 such bars in a month, if one such bar has already happened, second happened right today, when third will have happened - there is no point to make more attempts of this tactics in this same month afterwards.

Keep posting on your implementation of method, it's for good of all of us.

Rgds,
Alexander
  • #5,053
  • Nov 25, 2011 10:26am Nov 25, 2011 10:26am
Quoting AlexanderSV
Hi, RS.

On that tactics of entering right at the start of Daily/Weekly/Monthly open, with certain small SL dependent on pair, I remember Graeme wrote he is using 15pp SL for EURUSD, and at those times when candle forms with little or no opposite wick return rate can be awesome.

At this time I don't employ this particular tactics for myself.
However looking at EURUSD D1 chart I can easily find at least 2-3 D1 bars (in a month) with wick less than 15 pp, bars, which ended as solid directional candles of 130+ pips range.

Finding viable settings...
my 2 pips on this comment..."entering either two opposite positions right at the start of D1 candle". I have deployed this 'strategy' on weekly and Monthly open candles several times and results were quite promising. The real question is what you would do next when one position is in profit and second in loss. What I do is keep both sides open and wait for a confirmation of a retrace in daily/H4 for tip of wick to form on monthly/weekly and then close the position that is in profit and against the main trend and start placing a couple of stacks in the main direction of the trend/hindsight.

KISS.... We humans keep looking to explore edges that happen so infrequently trying to beat the market. I look for things that almost ALWAYs happen in the market. Regardless of what style of trader you are and regardless of what TF you are trading, you are either trading a BOUNCE or a BREAKOUT and these two happen on each and every candle.

I just stay humble, nimble and go with the flow (buy/sell if it is up/down AND sell/buy if it is up/down. No need to over-analyze and look for unique patterns.

Risk/Trade/Money/Account/Position management is my holy grail !!!
Staying in my lane...
  • #5,054
  • Nov 25, 2011 1:24pm Nov 25, 2011 1:24pm
Quoting VEEFX
The real question is what you would do next when one position is in profit and second in loss.
Hi, Vee.
This one is easy to address - both positions have 15pp SL.
Position in loss will be simply closed at SL automatically, or both positions could be closed by SL in case of messy PA at D1 start.

Rgds,
Alexander
  • #5,055
  • Nov 25, 2011 2:53pm Nov 25, 2011 2:53pm
Some great points there.

To be honest this week has worked out well for range break and daily open entries. I will be setting up my trade plan on Sunday for the week ahead. I will be looking to implement the following.

4 hour range breaks
Entry on daily candle with 30-40 pip stop
Flying B's

defintely think i could have stacked more on gbp.usd (see chart and arrows), especialy near the round numbers..... always easier seeing it after! why is that
best
RS

Quoting AlexanderSV
Hi, Vee.
This one is easy to address - both positions have 15pp SL.
Position in loss will be simply closed at SL automatically, or both positions could be closed by SL in case of messy PA at D1 start.

Rgds,
Alexander
Attached Image (click to enlarge)
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  • #5,056
  • Nov 25, 2011 3:23pm Nov 25, 2011 3:23pm
Quoting VEEFX
my 2 pips on this comment..."entering either two opposite positions right at the start of D1 candle". I have deployed this 'strategy' on weekly and Monthly open candles several times and results were quite promising. The real question is what you would do next when one position is in profit and second in loss. What I do is keep both sides open and wait for a confirmation of a retrace in daily/H4 for tip of wick to form on monthly/weekly and then close the position that is in profit and against the main trend and start placing a couple of stacks...

Vee,

This sounds interesting. Could you demonstrate on a chart, especially when you close the one side.

Thanks,
  • #5,057
  • Edited 11:58am Nov 27, 2011 11:57am | Edited 11:58am
Quoting spyderman
Vee,

This sounds interesting. Could you demonstrate on a chart, especially when you close the one side.

Thanks,
I do this failry often on the daily chart, I set my stop @ 40 pips or @ latest swing high low on the 1HR chart, which ever is the lesser of the two.
One my trade that is gaining and has made up my 40 pip loss I then close 50% and the the leg run. Not ideal as far as losses, but it does bring profits and you are participating. This has worked well for me @ 7am GMT+2.
  • #5,058
  • Edited Nov 28, 2011 11:34am Nov 27, 2011 11:23pm | Edited Nov 28, 2011 11:34am
Quoting spyderman
Vee,

This sounds interesting. Could you demonstrate on a chart, especially when you close the one side.

Thanks,
I am afraid it will cause distraction away from the core philosophy of this method. Most of it is subjective with no set rules so even if I mention a step by step process, it won't work for most.

(deleting the rest of this post as it is not relevant to this thread)
Staying in my lane...
  • #5,059
  • Nov 30, 2011 10:28pm Nov 30, 2011 10:28pm
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...
First of all...sir Graeme... I am absolutely amazed at the amount of untiring effort you have put into this thread and in sharing so unselfishly with this community. Your unfailing acknowledgement of each person's contributions and the patient answering of redundant questions has been a complete joy to read and experience. It would be an understatement to say that I am simply in awe of your generosity here. Quite simply....thank you, sir!

I just found this thread a few days ago and have been reading with nothing less than exponentially growing interest. I really wish I had taken notes about the various things I wanted to comment on as I read the many posts. I read about the first 80-100 pages of this thread entirely and then I have skimmed the majority of the rest. I have one of the .pdf files and will do some focused re-reading before I actually begin getting involved with action. At this point, I'm not entirely certain I want to commit to building my own millipede, but I am seriously considering it, no doubt.

As an outsider to this thread, I just wanted to quickly say that forex_fan really nailed what I have been wanting to post about on several occasions as I've been reading this thread. From my perspective, it seems to me that many of the problems that participants are facing stem from having altogether skipped the 3X20 exercise that Graeme has laid out. Maybe I'm wrong and you just haven't posted about your experiences with it overtly, but for the most part, very FEW have said anything about what their results were with 3X20. Much, if not most of the dialogue in this thread has been about finding the right "tweaks" to apply to compensate for your areas that I'm very certain the 3X20 exercise was given to take care of.

I cannot recall the specific post, but I am quite certain that Graeme has said that he attributes much of his current success in building his millipede DIRECTLY to the things he learned by doing 3X20. That statement made a significant impression on me as I read it. Forex_fan's post is a solid confirmation of the validity and necessity of doing this exercise without compromise. I would suggest any of you who are currently having difficulties with your entries to go back and complete 3X20 if you didn't...or maybe go back and do it AGAIN until you get positive results. Graeme wouldn't have wasted your time or HIS with posting about this if it were not of solid importance to getting you where you need to be. Don't short-cut your required learning.

Anyway, I'm sorry to impose my opinions as I'm yet an "outsider" to this thread, but I thought perhaps you might benefit from my current "read" of it. I am very impressed at the results and participation by many of the members here. It has been one of the most enjoyable reads I've ever experienced at FF.

On a side note, I recall Graeme mentioning the James16 thread early on, but have not seen much mention of it since then. Does anyone use any of the J16 techniques for their entries? I'm not knowledgeable regarding J16, but have wanted to look into it for some time now, just haven't made the time yet.

Again, thank you all for a great FF thread, especially YOU, sir Graeme!
  • #5,060
  • Nov 30, 2011 10:36pm Nov 30, 2011 10:36pm
Forgot to mention... I would LOVE to have a copy of your book when it comes out, Graeme! Please let us know when and where to purchase. I know you've been missing from this forum for several months, so I also wanted to express my wishes for your good health. I trust you are well and will return as soon as your time allows.

I recall seeing some posts about you having some medical issues, but could not see exactly what the trouble was/is. I'm praying that is resolved completely though. Take care and God bless!
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