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Building an equity millipede

Quoting VEEFX
Final Destination in my journey - ACHIEVE CONSISTENCY!
Impressive ! your efforts paid off, no doubt. Poster child for the method Graeme presented throughout the thread :-)

Cheers,

Cam
Hi Guys, finally signed up. I am currently trading G's method and trying to make it work for me personally. I would like to make sure of one thing that has been bugging me and that is when he talks about 100 pips or 300 pips he means pips and not points right, so it is actually 1000 or 3000 points.

Thanks, Chris.
I used to penny trade without stoplosses back in mid 2010 and I was averaging over 800 pips a day, and then I jumped to a dime and could almost live off of it, but my brother pointed out over and over again from looking at daily charts, that drawdown including swap fees can go for many years and take out an entire account.
I still trade mostly EURJPY 5m on days off and I don't use stops but I watch it like a hawk and sometimes use alerts.
Quoting jgray110
I used to penny trade without stoplosses back in mid 2010 and I was averaging over 800 pips a day, and then I jumped to a dime and could almost live off of it, but my brother pointed out over and over again from looking at daily charts, that drawdown including swap fees can go for many years and take out an entire account. I still trade mostly EURJPY 5m on days off and I don't use stops but I watch it like a hawk and sometimes use alerts.
Here's how my E/J looks at the moment.
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Staying in my lane...
Vee

If you've got the short term trading skills then why not just stick to that as route is probably far better and easier than trying to build millepedes with all the hassle and heartache that involves.

Or to put it another way - take the profits and run
Road To Wisdom? To err and err and err again, but less and less and less...
Quoting VEEFX
Another Mission Accomplished ! Bagged another 1400+ pips today (monday). {image} {image} {file}
nice one.
Was this research done on your real account?
thanks for posting
Quoting dboy365
nice one. Was this research done on your real account? thanks for posting
On Live account. I try new strategies quite often in my Live accounts when I have some profits booked and willing to lose some to help me gain confidence and experience.
Staying in my lane...
Quoting VEEFX
who's going to try this with me on N/J I used this often during my 3x20 TP exercise... as a break out and bounce off 00 resistance. I got some 23 positions going today on E/J, G/J and U/J... surprising U/J is lagging a bit so not sure if another sharp reversal is in order or not... for now, let's participate instead of being on the side lines EDIT: Unless I mention demo, these are all live trades in a real account {image} {image} {image}
Another stacking episode successful today.... UJ was not clean so had to do a bit of recovery but net risk was contained as I have floating profits from other pairs. (not proud of myself and definitely not recommended!)
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Staying in my lane...
Pretty nice FB setting up on A/U H4
hi vee,

perhaps my understanding of the FB is insufficient. i assumed it was just any bar that is not touching the 5ema.

also as you mentioned, i liked it because of the pinbar and resistance that was hit twice already previously
Hi diDc, I did not trade the AUDUSD today as I believe, like you, it is going to come back down. How much I don't know but I will wait till tomorrow to see. Maybe you could place a buystop... Chris
Hello,

I have read the first 50 pages or so of this thread. It all sounds very nice. But something seems wrong here. It is all based on the assumption that 80% of the entry will produce at least a 40 pip gain and the 20 % of losers will be at minimal cost. Well! Give a way to be right 80% of the time for a 40 pip gain and it does not matter if I hold the position fot 3 hours or thirty years. I wil make a ton of money no matter what. I will just trade more often if it is short term.
you absolutely get it, dude!

Graeme is not a real person, to me. but i am amazed that the theory/method do make success stories like Vee's.

Quoting insider999
Hello, I have read the first 50 pages or so of this thread. It all sounds very nice. But something seems wrong here. It is all based on the assumption that 80% of the entry will produce at least a 40 pip gain and the 20 % of losers will be at minimal cost. Well! Give a way to be right 80% of the time for a 40 pip gain and it does not matter if I hold the position fot 3 hours or thirty years. I wil make a ton of money no matter what. I will just trade more often if it is short term.
Maybe you should read a bit more of the thread as it's longer than 50 pages and you don't seem to have understood it...
Quoting insider999
Hello, I have read the first 50 pages or so of this thread. It all sounds very nice. But something seems wrong here. It is all based on the assumption that 80% of the entry will produce at least a 40 pip gain and the 20 % of losers will be at minimal cost. Well! Give a way to be right 80% of the time for a 40 pip gain and it does not matter if I hold the position fot 3 hours or thirty years. I wil make a ton of money no matter what. I will just trade more often if it is short term.
GSSINTOKYO,

I stopped after 50 pages because the person that had started the thread seemed to have finished with the basic teaching. I am seldom interested in all the tweaks that come afterwards. Either the basic is good or it is not.

Now I am not saying the Milipede idea is not good. All I am saying is that the basic assumption is to be right 80% of the time and then go to BE after 40 or so pips. This is what I find curious. Of course you will be way ahead if you are right 80% right off the bat!

You can use all sort of methods beside Milipede and become a millionaire very quickly IF you are right 80% of the time...

Now tell me what I did not understand so far?

Insider
  • #5,816
  • Quote
  • Apr 11, 2013 11:59am Apr 11, 2013 11:59am
Quoting insider999
GSSINTOKYO, I stopped after 50 pages because the person that had started the thread seemed to have finished with the basic teaching. I am seldom interested in all the tweaks that come afterwards. Either the basic is good or it is not. Now I am not saying the Milipede idea is not good. All I am saying is that the basic assumption is to be right 80% of the time and then go to BE after 40 or so pips. This is what I find curious. Of course you will be way ahead if you are right 80% right off the bat! You can use all sort of methods beside Milipede...
dude... 50 pages means you stopped at post# 736 where Graeme starts explaining wick interpretation and supply/demand principles of price action. If what you mentioned is all you could get from the first 50 pages, I am speechless! Your mind is blocked and you are not letting the related discoveries come to you. You are choosing to take the easy route of complaining rather than devoting yourself to finding the ONE thing that fits your personality.

I can pretty much write a book on my journey of ups and downs since 2010 and the only thing that got me here is the devotion, passion and commitment to achieve what I wanted to achieve. Just for the record, I am NOT doing everything that Graeme advises here on this thread and that WAS his intention in the first 10 pages. It is up to us to figure out how to make it all work. I have had my fair share of negative emotions seeing my 500 pip long leg disappear in weeks.

I am NOT using "Move SL to BE" after every probe. There are MANY ways to limit risk and increase profit potential. For US based traders, moving SL to BE is a disaster due to FIFO restriction. My edge in stacking aggressively is around FIFO and it is a blessing in disguise. For all those who whine about FIFO and NFA regulations (I was one of those in the past!). I suggest you think hard why that regulation was put in place. NFA is not stupid to wake up one fine day and fart from their asses to make our lives difficult. Pick an obstacle and commit yourself to overcoming it!!! You will be AMAZED what your mind can achieve if you allow it to do some thinking for you :-

I have read each and every post from Graeme atleast 10 times over the period of 33 months and I still have my AHA moments !

My journey is soon coming to it's final destination and so would my participation on this thread as my focus is now to achieve consistency and that is phase2 of my journey for next 3-5 yrs.

For those who think Graeme is not for real, take a look in the mirror and ask yourself the same question. Apart from his questionable personal stories, not a word he has mentioned is misleading. He never came here to make friends and create a cult of followers so give him some credit for all the long hours he has put on this thread. Take what you can and leave the rest is all I got to say. For me. hedging, diversification, freezing of profits, trading statistics, risk/reward, predefined setups, rule-based entries candlestick patterns, etc is all BS and roadblocks in achieving success. What I do, you will be amazed even a 4th grader good at playing any video game can do without having any understanding of the financial markets. I know this as I have a 4th grader at home watching me trade all the time. He's even got a demo account on his Ipod Touch !!! My very first conversion with him when I showed him a chart back in 2010 and asked him "Should I buy or sell"? He said "Last candle is going up daddy so Buy".... I knew I was on the right path committing myself to this thread.

Stay inspired, focussed and motivated and unveil that hidden passion within you. GodSpeed.
Staying in my lane...
Sorry but my mind is not <<blocked>> as you put it.

You simply have no argument when I say that being 80% right from the start is primordial to his method.

I simply summit that ANY method where you are 80% of the time right from the very start will produce awesome results. This is ALL I am saying. This is NOT complaining. It is just stating a fact. Now if I got this very fact wrong, please point to how I got it wrong.

That you worked very hard at this is completely irrelevant.

Insider
Quoting insider999
Sorry but my mind is not <<blocked>> as you put it. You simply have no argument when I say that being 80% right from the start is primordial to his method. I simply summit that ANY method where you are 80% of the time right from the very start will produce awesome results. This is ALL I am saying. This is NOT complaining. It is just stating a fact. Now if I got this very fact wrong, please point to how I got it wrong. That you worked very hard at this is completely irrelevant. Insider
I rather stack than have this conversation! If you are a trend follower, you won't be asking this as it is the key ingredient to cut your losses short and one way to avoid drawdown is to upskill your entries and that takes hard work and patience and screen time. It does not take a rocket scientist to understand that if you prefect your entries, you can be a successful scalper, swing trader or any other type of trader and you don't necessarily have to be a position trader. Graeme has mentioned this several times in his post. May I suggest you download the zip file of posts by Graeme that I posted a long time back and ignore the rest of the clutter on this thread (including this post!).


Perfecting entries is the key to reducing drawdowns with typical trend following systems.
Staying in my lane...
VEEFX,

I appreciate your comments. You are probably going to say that I should read this entire thread ten times like you did, But if you don t say that, what zip file are you talking about? Under what post do I get this? Also, from your experience, where does Pipeasy give HIS way of getting the better entries? Where do you find yours? I dont want specifics, just general idea of what you took from his teaching regarding entries.

I will try to read the thread again. it is just all the <<clutter>> that bugs me. Everybody means well, I know. But it get so far from the original idea that it all seems pointless after a while. Pretty sure you know what I mean.

insider
Quoting insider999
VEEFX, I appreciate your comments. You are probably going to say that I should read this entire thread ten times like you did, But if you don t say that, what zip file are you talking about? Under what post do I get this? Also, from your experience, where does Pipeasy give HIS way of getting the better entries? Where do you find yours? I dont want specifics, just general idea of what you took from his teaching regarding entries. I will try to read the thread again. it is just all the <<clutter>> that bugs me. Everybody means well, I know. But it...
Now we are getting somewhere with this discussion. Here's the zip file I posted http://www.forexfactory.com/showthre...85#post5105285
Follow the instructions, use a smartphone, install Opera browser, save the page on your microSD card and have fun with it. This will allow you to read when you don't have wireless connectivity.

Read with an open mind, let the enlightenment come to you and play with all the possible scenarios. There is a LOT of clutter every other participants most of whom have moved on. This is a best way to focus only on the posts that you want to read.

Good Luck!

EDIT: took me 2 seconds to use the paperclip feature and find all the attachments in this thread. You could do that for all of Graeme's screenshots also which have wealth of information.

EDIT1: I am here because JPY pairs have stalled looking for direction upon NYSE close

EDIT2: This is a perfect scenario to stay out of the market. Not one currency (not pair!) is showing a clear direction at the moment.
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Staying in my lane...
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