Building an equity millipede | Page 303 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Thegman's Journal (Equity Millipede Concept) 102 replies

Trading an Equity Millipede 23 replies

Equity millipede & Flying Buddha trading journal 9 replies

Build an Equity Millipede with the filtered Flying Buddha 171 replies

Application Development - Journal of Building an equity millipede 14 replies

Attachments: Building an equity millipede
Exit Attachments

Building an equity millipede

  • #6,041
  • Aug 27, 2013 7:22am Aug 27, 2013 7:22am
Vee,this chart for u Will this trade at the monthly wick be my next wallpaper?
Time will show
Attached Image (click to enlarge)
Click to Enlarge Name: 27-8-2013 3-19-29 nzd usd vee.jpg Size: 427 KB


Tim
  • #6,042
  • Aug 27, 2013 9:37am Aug 27, 2013 9:37am
The advantage with Cam's varying size strategy is that sometimes the market sets up with a nice small stop and when those positions work they really pile on the profit. And if they don't work the risk is the same as a trade with a larger stop (in ticks).

I admit though that what is good for one maybe won't fit with another.

==============================================================

First day back at work (took most of Aug off) and guess what - got hit with 9 losses straight away! The 10th was a nice profit on EUR-JPY.

I was down around 180 basis points but the one profit pulled back 140 basis points to stand at a respectable negative 40 basis points.

There's real power in the 7:1 risk/reward ratio. So many times this happens to me, bad morning, lose-lose-lose etc then BAM, a winner, and if another one turns up (remember: the 5m chart is a never ending series of opportunity) it will be a great day. Personally though I think today will be a loser, but you never know what's just around that corner
Road To Wisdom? To err and err and err again, but less and less and less...
  • #6,043
  • Aug 28, 2013 7:26am Aug 28, 2013 7:26am
Quoting timos
(when you see a full bold candle,out of nowhere without retrace,most likely is a fake out) etc.Watching clean charts is more easy spotting good momentum,where price may breakout,how does usually breaks (hint,when price breaks out,most of the time,it will retest the breakout before continuing)
I little correction for my grammar here,instead of bold i meant blood but cant edit the original post
Tim
  • #6,044
  • Sep 2, 2013 5:35am Sep 2, 2013 5:35am
Usd Jpy 4h overview
2 minor losses of 10 total to esablish these positions.Today momentum was aaa+ for this pair.Missed aud usd

Attached Image (click to enlarge)
Click to Enlarge Name: 2-9-2013 1-30-49 μusd jpy 4h overview.jpg Size: 532 KB
  • #6,045
  • Sep 2, 2013 5:17pm Sep 2, 2013 5:17pm
Euro usd Positions

Attached Image (click to enlarge)
Click to Enlarge Name: 3-9-2013 1-13-27 eur usd 1h overview 3-9-2013.jpg Size: 429 KB
  • #6,046
  • Edited 6:42pm Sep 2, 2013 6:06pm | Edited 6:42pm
guys,all jpy positions in profit,is one of those rare days when you stack and it goes directly into profit.See 1h candles,some big fat fingers are in action here,is not going to end that fast,keep watching this pair.
Tim

Update: added 2 more,1 already at be and the other with sl 10 pips,cheappp prices here!!
  • #6,047
  • Sep 6, 2013 5:40pm Sep 6, 2013 5:40pm
Focused pair: Euro Gbp . Reason: Great daily/weekly Demand/Resistance
Watch this pair.

Attached Image (click to enlarge)
Click to Enlarge Name: 6-9-2013 11-47-12 euro gbp daily.jpg Size: 318 KB


Tim
  • #6,048
  • Sep 7, 2013 8:39am Sep 7, 2013 8:39am
How is the rollover cost managed with this method? I can't seem to find any details about it. Thanks.
  • #6,049
  • Sep 7, 2013 3:29pm Sep 7, 2013 3:29pm
Timos, do you see EUR/GBP going further down ?
  • #6,050
  • Sep 7, 2013 3:57pm Sep 7, 2013 3:57pm
Quoting kavinsky
Timos, do you see EUR/GBP going further down ?
I don't have any specific view.In order for eur/gbp to continue down,either euro must continue down or gbp/usd break and go up.This level may hold and reverse up to 0.85. However,this is just my view.Only market and time will show the truth
Tim
  • #6,051
  • Sep 9, 2013 10:00am Sep 9, 2013 10:00am
A question, is 4000 doller enough to use mini contracts for this method?
  • #6,052
  • Sep 15, 2013 3:15pm Sep 15, 2013 3:15pm
I thank God I found this thread. After a few re-reads with the helpful pdf someone compiled, my outlook on trading has evolved.
Has anyone been enjoying the great down momentum on USD/CAD this last week? Through pipEASY's knowledge, and using timos, veefx, and others users/contributors charts and posts as inspiration, I have a few legs growing.

Thanks, guys!
  • #6,053
  • Sep 23, 2013 8:59am Sep 23, 2013 8:59am
Quoting JakeB
I have a few legs growing.
I don't mean to sound like a party pooper, but more often that not get ready for all that lovely mark-to-market profit to be given back.

When things work out for this strategy it can be great, but like any good trend they don't happen that often which means most of the time you'll be trading in some sort of chop. So build a good leg, get knocked out, build another, get knocked out, build another, this time full of lots of juicy positions only to be knocked out on a small spike before the market moves 500 ticks in your direction with you probably having no position on.

I'm not knocking this thread, there are some excellent take-aways, but to call it a thread of broken dreams might not be too far from the truth.

Still, anyone that gives it a shot has to be respected.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #6,054
  • Sep 23, 2013 9:46am Sep 23, 2013 9:46am
Quoting Calculus
{quote} I don't mean to sound like a party pooper, but more often that not get ready for all that lovely mark-to-market profit to be given back. When things work out for this strategy it can be great, but like any good trend they don't happen that often which means most of the time you'll be trading in some sort of chop. So build a good leg, get knocked out, build another, get knocked out, build another, this time full of lots of juicy positions only to be knocked out on a small spike before the market moves 500 ticks in your direction with you...
I am currently reading this thread. Are you saying this strategy is not worth the hassle?
  • #6,055
  • Sep 23, 2013 10:21am Sep 23, 2013 10:21am
Is it worth the hassle?

Yes, if you're already an excellent short term trader, or about to become one.

No, if you're not.

However, as others have said in the thread, if you're an excellent short term trader then you don't really need this strategy as you've got all the skills neccesary to make good returns in the market.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #6,056
  • Sep 23, 2013 10:46am Sep 23, 2013 10:46am
Quoting Calculus
Is it worth the hassle? Yes, if you're already an excellent short term trader, or about to become one. No, if you're not. However, as others have said in the thread, if you're an excellent short term trader then you don't really need this strategy as you've got all the skills neccesary to make good returns in the market.
Many thanks for the reply Calculus. What a shame, another thread/method that looked so promising in the begining, not sure now whether it's worth my while reading through the 300+ pages!
  • #6,057
  • Sep 23, 2013 11:26am Sep 23, 2013 11:26am
definitely worth your time. but you may just read till Graeme left. that's about 100s pages, if i remember right.

for me, this thread is not about 'i follow graeme's way', but about 'now i know there's this way', and 'this way' help shaping your mindset as a trader with an indispensable part.

it did turn out that i cannot 100% (or even 70%) follow graeme's way, but the concepts are so well conveyed include:

let profit run, cut losers short,
control risk
and last and most important: an EDGE is all and only thing you need!

Quoting danjuma
{quote} Many thanks for the reply Calculus. What a shame, another thread/method that looked so promising in the begining, not sure now whether it's worth my while reading through the 300+ pages!
  • #6,058
  • Sep 23, 2013 11:29am Sep 23, 2013 11:29am
Quoting charvo
definitely worth your time. but you may just read till Graeme left. that's about 100s pages, if i remember right. for me, this thread is not about 'i follow graeme's way', but about 'now i know there's this way', and 'this way' help shaping your mindset as a trader with an indispensable part. it did turn out that i cannot 100% (or even 70%) follow graeme's way, but the concepts are so well conveyed include: let profit run, cut losers short, control risk and last and most important: an EDGE is all and only thing you need! {quote}
Many thanks for your advice.
  • #6,059
  • Sep 23, 2013 8:37pm Sep 23, 2013 8:37pm
this way of trading is only worthwhile if you have a looooooooooooooong trend and I`m talking about years.

so now you just wait..........
  • #6,060
  • Sep 24, 2013 3:15am Sep 24, 2013 3:15am
There are always long trends in the markets. By the way, even "short" trend, lasting a couple of months still produces decent growth. And these are here virtually all the time. For example the cable had several since the start of the year - 1500p downtrend, 700p uptrend, 600p downtrend, 700p uptrend, 900p downtrend, 1300p uptrend. If you are able to "follow the flow" and stack effectively, each of these could have produced thousands of pips of profit. Easy? No. Worthwhile? Definitely.
4 traders viewing now