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Building an equity millipede

  • #5,821
  • Apr 11, 2013 2:44pm Apr 11, 2013 2:44pm
and proof that scalping is possible with low risk entry techniques learnt from this thread... bagged 717 pips from 99 closed trades in the last 24 hours with position size = 1x account balance.
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Staying in my lane...
  • #5,822
  • Apr 11, 2013 3:10pm Apr 11, 2013 3:10pm
Quoting VEEFX
and proof that scalping is possible with low risk entry techniques learnt from this thread... bagged 717 pips from 99 closed trades in the last 24 hours with position size = 1x account balance. {image}
I second that--
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I am using a millipede-like approach to aggressively add to winning trades in micro-trends on the 1min and 5min time frames. 90 pips in 30min. Explosive--no, satisfactory--yes. I am still very, very early in trading this, my final/penultimate, strategy.

Funny how people try to box in strategies, approaches, ideas. pipEasy went for huge trends, I look for tiny ones. In the end--if the markets move, pips can be extracted. Make it your own--own your destiny--participate.
  • #5,823
  • Apr 11, 2013 3:23pm Apr 11, 2013 3:23pm
For those who are looking fro Greaeme posts,here is a mediafire link : http://www.mediafire.com/?gglre12h0y8tlrh
All credits to Greaeme and VEEFX for the extracted posts.

Best regards,
Tim
  • #5,824
  • Apr 11, 2013 4:00pm Apr 11, 2013 4:00pm
Insider 999, where did you get the idea that Greame wants 80% correct trades. My understanding is that he said 80% of his trades either closed at BE or hit SL.
I think it is a good idea to use a SL when starting to millipede as it allows you to only have positive pip counts open and not waiting for price to come back down if you got it wrong. Veefx, I think you are doing great but not exactly what G was doing which is the beauty of this way of trading it is so personal. Likewise I have read all G's posts 4 to 5 times since just before Christmas which was when I discovered this thread. I am part of another forum where we have started our own long term trading thread and even have a demo acct for multiple traders to trade off. It is very exciting to see this thread continuing on as it is. Great community, not much infighting, keep it up guys. Chris
  • #5,825
  • Apr 11, 2013 4:13pm Apr 11, 2013 4:13pm
Quoting VEEFX
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.
Amazingly, trading is really that simple!
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #5,826
  • Apr 12, 2013 11:46am Apr 12, 2013 11:46am
Any thoughts on JPY pairs whether we are seeing reversal or retracement today? I should have stayed out last night but tried a 5-6 short and dozen long probes and they all caused me several hundred pips!

It is moments like these that millipede strategy becomes a nerve-wrecking experience for those who have long legs (or realized profits-same thing).

My hindsight is still long though but quite surprised that the market did not move at all last night when BOJ governor was scheduled to speak at 8.10pm! Not sure what happened. I was expecting some renewed compelling momentum :-(
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Staying in my lane...
  • #5,827
  • Apr 12, 2013 5:41pm Apr 12, 2013 5:41pm
Quoting VEEFX
Any thoughts on JPY pairs whether we are seeing reversal or retracement today?
Nobody knows Vee, you can only participate in both directions, and eventually the market will reveal its hand.

Cheers,

Cam
  • #5,828
  • Apr 12, 2013 5:52pm Apr 12, 2013 5:52pm
VEE,

Weekly USDJPY is a small range pinbar flying buddah. 50% retrace of last week's range & 99.0 are in perfect confluence. Possible that we don't get back to 99 and 98.80 (38.2% Fib of weekly range) ends up being next week's high.
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Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #5,829
  • Apr 12, 2013 9:47pm Apr 12, 2013 9:47pm
Quoting cameron1st
Nobody knows Vee, you can only participate in both directions, and eventually the market will reveal its hand. Cheers, Cam
I knew I would get a familiar response :-

Last year, I did great in short-only probes/stacks. This year my focus was to show significant improvement on my Long-only probes/stacks and I am doing great.
What works for me is that I avoid changing long/short direction in the middle of the day to help with my focus and mindset on the direction.

I did faced some internal daemons today while trying to go short on JPY pairs in fear of going back to the old way of being a short-only trader. Looking at my blotter tonight, I feel I got out my short positions too early and kept my long positions for too long (and still have a few running in loss but contained within my risk parameters).

Just to be maintain my integrity, I had some losses today which I should share. Folks think only profitable trades are posted on forums and I agree so here you go...

HanselFX - I respect your opinion. You make a good observation that this thread goes quiet during range and excitement builds when market trends. That's exactly the kind of crowd behavior we should be seeing as this is a trend following method.

ciao

(This post will disappear in next 24 hours like most of my posts....)
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File Type: xlsx Thursday+ Friday Closed JPY Trades.xlsx   19 KB | 436 downloads
Staying in my lane...
  • #5,830
  • Apr 13, 2013 1:45am Apr 13, 2013 1:45am
Hi Vee,
Many congrats on your excellent results and thanks for your fulsome posts. Very interesting about the differences in long/short stacking-- could I ask you to maybe expand a little about how the differences in your approach when stacking southbound and northbound or about what kind of thing you are doing differently in long stacks than previously?

Thanks again,
Greg
  • #5,831
  • Apr 13, 2013 1:06pm Apr 13, 2013 1:06pm
My apologies to all who PMed me this week. This site used to instantaneously prompt me of any new PMs and looks like they have removed that feature. I feel like my exit from this thread is long overdue.

I kept participating in this thread to keep folks energized, motivated and inspired for those hoping for Graeme to return. I don't think he is ever returning here so time has come for me to exit from this thread.

I will be working on my final post this weekend.... stay tuned!
Staying in my lane...
  • #5,832
  • Apr 14, 2013 8:26am Apr 14, 2013 8:26am
Quoting VEEFX
I knew I would get a familiar response :- Last year, I did great in short-only probes/stacks. This year my focus was to show significant improvement on my Long-only probes/stacks and I am doing great. What works for me is that I avoid changing long/short direction in the middle of the day to help with my focus and mindset on the direction.
Hi Vee,

The strategy employed should depend on the goals:

During a day, there are multiple short term trends, and if your interest is to trade short term, you would align your entries with those short term trends, but if you want to trade longer positions, you align yourself with the larger timeframes.

When someone asks "what's the trend ?", there is no answer unless they specify a timeframe to go with it, maybe it's uptrend on an hourly chart and on the daily or weekly it looks like a retracement in a downtrend.

For myself, when I see a setup that I recognise, I take it regardless of whether I think there might be a trend change or not.

About entries, everyone should choose a setup that they recognise, and when that happens place a trade... it could be something as random as "everyday at 10 AM, if the price is above the open of the day, go long, otherwise short ... place one trade, SL 20 pips, TP 100 pips". Repeat for six months, analysing each trade, maybe you will discover that if you used 25 pips as SL instead of 20, you would have made twice the profit after the six months trial. Or maybe you discover that TP 200 pips would work even better.

And this is how a method evolves, from a seed into a full blown profitable trader. Then, if you start a thread in a forum, giving out the method "everyday at 10 AM, if the price is above the open of the day, go long, otherwise short ... place one trade, SL 20 pips, TP 100 pips", you will get in return hundreds of questions like "10 AM is that GMT or US Eastern ?" and most won't be able to be profitable with the respective method because they are not you.

This is one of the biggest misunderstandings or secrets about trading... everyone have to make their own rules, that they feel comfortable with, no matter how crazy and random those rules would seem. If you are not comfortable with your way of trading, how will you do it for 30 years ? It is important that you don't force your personality, if every cell in your body feels good when trading short term... then do exactly that as your main source of income. Of course you can always experiment with long term, options, futures whatever... but the method you spend most of the day with has to fit like a glove... a personality glove.

Cheers,

Cam
  • #5,833
  • Apr 15, 2013 10:48pm Apr 15, 2013 10:48pm
Quoting cameron1st
Hi Vee, The strategy employed should depend on the goals: During a day, there are multiple short term trends, and if your interest is to trade short term, you would align your entries with those short term trends, but if you want to trade longer positions, you align yourself with the larger timeframes. When someone asks "what's the trend ?", there is no answer unless they specify a timeframe to go with it, maybe it's uptrend on an hourly chart and on the daily or weekly it looks like a retracement in a downtrend. For myself, when I see a setup...


You said it so well Cam.
Staying in my lane...
  • #5,834
  • Apr 16, 2013 12:38am Apr 16, 2013 12:38am
Quoting VEEFX
My apologies to all who PMed me this week. This site used to instantaneously prompt me of any new PMs and looks like they have removed that feature. I feel like my exit from this thread is long overdue. I kept participating in this thread to keep folks energized, motivated and inspired for those hoping for Graeme to return. I don't think he is ever returning here so time has come for me to exit from this thread. I will be working on my final post this weekend.... stay tuned!
After a few pages of typing over the weekend and judging from some of the PMs, I realized what I have to say will only cause confusion. I consider a ton of possible scenarios, macro-economical factors, MTF scenarios, currency strength, news releases etc into my trading and few trade mgmt techniques specific to FIFO and non-hedging accounts for US traders.

As Cam said, what works for me will only work for me and sharing them would just make matters worse for our millipede followers. Although tiny bit profitable for past two years, my journey to become a consistent trader has just begun so it would be unfair to misguide anyone with my recent success (which could just be a stroke of luck for being at the right place at the right time!). This road is supposed to be travelled on my own from here on.

My apologies for cluttering this thread with my recent live trades

I have made a lot of friends here and would love to stay in touch... Email is the best way to reach me instead of PM.

Good Luck !!!
Staying in my lane...
  • #5,835
  • Apr 19, 2013 2:53am Apr 19, 2013 2:53am
Hi
It saddens to know that one of the great contributor (Vee) decided to discontinue from this thread. My sincere request is please reconsider your decision. Also help us newbies learn the first step i.e. precision short term entry/exit. Regards. Roy
  • #5,836
  • Apr 20, 2013 1:25am Apr 20, 2013 1:25am
Quoting dadadada
Hi It saddens to know that one of the great contributor (Vee) decided to discontinue from this thread. My sincere request is please reconsider your decision. Also help us newbies learn the first step i.e. precision short term entry/exit. Regards. Roy
Hi friend,

With respect, I think you missed the point expressed by Graeme and Vee throughout the thread ... precision short term entry/exit cannot really be transferred from one trader to another, you have to put in the work and find your own entries. Vee has spent years working on finding a way that works for his personality and beliefs and every one of you has to do the same if you are to find success trading. Start with pin bars, or flying buddhas, or whatever else you fancy.

In the beginning of the thread Graeme posted some of his entry criterias, charts full of indicators, but he never explained them in detail because this sort of information does not transfer from one trader to another.

Regards,

Cam
  • #5,837
  • Apr 20, 2013 11:20am Apr 20, 2013 11:20am
Quoting cameron1st
Hi friend, With respect, I think you missed the point expressed by Graeme and Vee throughout the thread ... precision short term entry/exit cannot really be transferred from one trader to another, you have to put in the work and find your own entries. Vee has spent years working on finding a way that works for his personality and beliefs and every one of you has to do the same if you are to find success trading. Start with pin bars, or flying buddhas, or whatever else you fancy. In the beginning of the thread Graeme posted some of his entry criterias,...
Thanks a lot Vee ( I never think you are scalper) and Cam. A thread is great because of its participators,and it shows. I am not good at expressing my expression,so try not to write and cause clutter. It is only that Vee's decision I had to write. After Graem few traders write up is keeping this thread interesting. I look at it for hope of getting much needed relief from unspeakable hardship of life. Best regards. Roy
  • #5,838
  • Apr 20, 2013 2:14pm Apr 20, 2013 2:14pm
Quoting dadadada
Thanks a lot Vee ( I never think you are scalper) and Cam. A thread is great because of its participators,and it shows. I am not good at expressing my expression,so try not to write and cause clutter. It is only that Vee's decision I had to write. After Graem few traders write up is keeping this thread interesting. I look at it for hope of getting much needed relief from unspeakable hardship of life. Best regards. Roy
Relief can only be found inside you, rather than in other people. Everything is an illusion ... truth, lies.. who defined what is what ? You do. What is a lie for me, it might be the truth for you. Lost loved ones ? Maybe, but life is change ... a flowing river, why expect that things would be the same forever ? Always treasure the time spent with them and move on to new challenges.

What does this have to do with trading ? Well, behind those candles there are millions of people trading, each of them with their own problems and emotions and beliefs. Looking at the charts and trying to think what other traders think when they see an interesting price point (be that support or resistance, pin bar etc), could give you an edge.
  • #5,839
  • Apr 22, 2013 12:36am Apr 22, 2013 12:36am
Quoting VEEFX
I found it on another member's profile: "Goku is a saiyan warrior. His life was met with unbelievable and tremendous challenges. He was faced with great obstacles endlessly, but his spirit to succeed could never be defeated. He learned new techniques, honed his skills and pursued to achieve his highest capabilities as a Saiyan Warrior. His story is like David and Goliath, but it wasn't as rosey. He was always the little underdog. He didn't win the battle in an instant, infact he always lost the first encounters because the Goliath enemy would flick...
A good example from King, Warrior, Magician, Lover book and a perfect one at showing one's strength of being able to get up while knocked back. This also oozes from Rocky character and is the essence of change through trial and error.
Those that can't, teach, and those that can, do.
Star Ribbean Return This Year: 0.1%
  • #5,840
  • Apr 22, 2013 2:23am Apr 22, 2013 2:23am
Quoting VEEFX
{quote} 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...
Hi Veefx,

Movers and Shakers - is it MT4 indiacator?

Have a nice day
miekra
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