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Building an equity millipede

  • #6,381
  • Apr 1, 2014 5:20am Apr 1, 2014 5:20am
If you go into battle and want to win you better have a good weapon, one that can both kill and perhaps more importantly can scare people just by looking at it.

So what's the weapon of choice for the boys?

It's THRUST. Thrust can both kill and scare.

So when you see thrust happening, try to work out who's being killed and/or scared, if so, that's your que to get very interested in the markets. But this will also be the time where the markets look the most daunting. The perverse fact though is that whereas the markets look so risky because of the thrust, that risk is normally just an illusion. My take is that these areas turn out to be the safest and least risky places to look for entries.

I don't know who said it but they said this - if you want to be a success in this business you have to screw your head on backwards.....
Road To Wisdom? To err and err and err again, but less and less and less...
  • #6,382
  • Apr 1, 2014 5:20am Apr 1, 2014 5:20am
Quoting Calculus
Steve The name of the game is profit but at the same time to make a profit you need to accept risk. The boys know where/how many people trade and therefore know that if price moves in a trader's direction when/where he will likely move the stop to breakeven. The boys therefore target these areas, ie go get the breakeven stops before the market makes the real move. I trade these setups all the time and they're great, plus they happen A LOT because human emotion doesn't change that much, especially when FEAR is bought into the equation. Here's an...
With respect C I don't think a 5m chart of EU is a good example of sl placement.
  • #6,383
  • Apr 1, 2014 5:31am Apr 1, 2014 5:31am
Steve

It's not about setups on the 5m, these setups happen in ALL timeperiods. If I traded the daily chart, they would be there as clear as a blue sky.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #6,384
  • Apr 1, 2014 5:32am Apr 1, 2014 5:32am
Quoting VEEFX
{quote} That is simply not the case with most reputable' brokers like FXCM, Interactive Brokers, CitiFXPRo etc. Perhaps Oanda is the only broker to bypass FIFO with varying position sizes found here http://fxtrade.oanda.com/help/close-trades-fifo. I already have a live account with Oanda and good luck making any money with them if your entries are momentum based. Anyways, I am wasting my time here thinking you have some magic pill Adios Amigos ! I am outta here. EDIT: Regarding your Trade Explorer, I have zero respect for those...
Well, the fact you are looking for some "magic pill" sort of says it all.

It's quite a shame that two individuals cannot agree without one of them turning into a twelve year old girl.

As far as my TE goes, it is not there for your respect, what have you done to earn anyone's respect besides bang your head against a wall all these years?

Momentum entries involves slippage, perhaps you should stop doing that.
If you are good at something, never do it for free--Joker
  • #6,385
  • Apr 1, 2014 5:33am Apr 1, 2014 5:33am
Quoting Calculus
Steve The name of the game is profit but at the same time to make a profit you need to accept risk. The boys know where/how many people trade and therefore know that if price moves in a trader's direction when/where he will likely move the stop to breakeven. The boys therefore target these areas, ie go get the breakeven stops before the market makes the real move. I trade these setups all the time and they're great, plus they happen A LOT because human emotion doesn't change that much, especially when FEAR is bought into the equation. Here's an...
Great post, Calculus.
If you are good at something, never do it for free--Joker
  • #6,386
  • Apr 1, 2014 5:45am Apr 1, 2014 5:45am
Quoting Calculus
Steve It's not about setups on the 5m, these setups happen in ALL timeperiods. If I traded the daily chart, they would be there as clear as a blue sky.
I actually think I agree with you but it is easier on the daily charts to identify area's where your sl will probably not get hit - then it's all about timing and MM.
  • #6,387
  • Apr 1, 2014 5:55am Apr 1, 2014 5:55am
Steve

If I took away both the price scale and the time scale on a series of say 6 charts (so all you could see were the bars) and then asked you or anyone else to tell me which was the 5m, the 20m, the 240m, the daily, weekly, monthly it's odds on nobody would get them right. You might say that chart 1 is the weekly whereas it would be the 240m etc. And if you created this exercise for me, I wouldn't get them right either.

I admit though that the examples would have to be carefully chosen because often something like a 5m chart looks like 5m chart action but still, the test is a good one.

What works on the daily should work on all the other time periods and vice-versa with perhaps a touch of tweaking. Whatever the case the markets are very fractal.
Road To Wisdom? To err and err and err again, but less and less and less...
  • #6,388
  • Apr 1, 2014 3:02pm Apr 1, 2014 3:02pm
Quoting Calculus
Steve The name of the game is profit but at the same time to make a profit you need to accept risk. The boys know where/how many people trade and therefore know that if price moves in a trader's direction when/where he will likely move the stop to breakeven. The boys therefore target these areas, ie go get the breakeven stops before the market makes the real move. I trade these setups all the time and they're great, plus they happen A LOT because human emotion doesn't change that much, especially when FEAR is bought into the equation. Here's an...
Hi Calculus,

This chart is very good example but I'm not so surprised that price on EUR/USD, March 31 got as low as 1.3720. I would have expected it at 1.3726 (at least). Let me explain. I observed an interesting thing which I've been playing with for a while. I am not very well educated in trading, maybe you guys all know it already, but I have not seen it anywhere. This is what I noticed:
Let's say, price goes down and I'm looking for an oportunity to buy, so I want to find the lowest candle (let me call it candle 1). I can find the lowest candle if next candle, or next next candle closes above the high of the candle 1. Let me call it candle 2. Usually, but not always, after candle 2, there is a pullback to the high of candle 1, the price bounces off the level and continues up.
This is what I mean.
example 1.JPG

Let me show your 5 min chart in 1 hour chart. You can see candle 1 followed by candle 2. But there is no pullback to the high of the candle 1 after candle 2 close, but it happened later as you can see on the next chart. The high of the candle 1 is at 1.3726, and price got a little lower than that, to 1.3720. Sometimes the price get exactly to that level and sometimes it goes lower. That can give us a chance to buy or sell with very small risk at these levels.

example 2.JPG
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  • #6,389
  • Apr 1, 2014 3:08pm Apr 1, 2014 3:08pm
Another examples:
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  • #6,390
  • Apr 3, 2014 8:30am Apr 3, 2014 8:30am
Rodrigo, that's a very old and powerful 2-candle pattern. I read about it in "Scientific Interpretation of Bar Charts" from the 1970s and couldnt believe I had never noticed it.

It works best if the pull back happens on next candle (candle 3).

On the daily, works great in a good trend with most pairs. I have tested it over past few years it works great on EURUSD, GBPUSD, USDJPY, EURJPY and AUDUSD and AUDJPY. Area between high of candle 1 and low of candle 2 is a good "buy zone" and drop down to lower chart to find entry on lower timeframe. If there was resistance flipping into support within buy zone already, even better.
  • #6,391
  • Apr 3, 2014 2:12pm Apr 3, 2014 2:12pm
I am going to follow Cameron1st who have been with us since the beginning. Smart fellow...
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Staying in my lane...
  • #6,392
  • Apr 3, 2014 2:58pm Apr 3, 2014 2:58pm
Quoting VEEFX
I am going to follow Cameron1st who have been with us since the beginning. Smart fellow... {image} {image} {image} {image}
Shame Vee... Can't blame you, I've moved over to the journal section, far fewer grievances over there

I have a 900 pip short on EA H4... just picking tops and waiting
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Got 500 pip longs on GJ and EJ also
tradewith60
  • #6,393
  • Apr 3, 2014 3:22pm Apr 3, 2014 3:22pm
The simple elegance of trend trading is an amazing thing in the markets. Wait for a pull back, enter and hold.. no predictive technical analysis is needed, why do people think that is the only way, it's beyond me? You just need to trade the chart.
tradewith60
  • #6,394
  • Apr 3, 2014 5:29pm Apr 3, 2014 5:29pm
Quoting VEEFX
I am going to follow Cameron1st who have been with us since the beginning. Smart fellow... {image} {image} {image} {image}
This, ladies and gentlemen, is a classic example of passive aggressive behavior. It doesn't make you a better trader, it just makes you soft.

Thinking about it, it is proper that you should follow someone else. Your inability to lead here has been well documented.
If you are good at something, never do it for free--Joker
  • #6,395
  • Apr 3, 2014 5:50pm Apr 3, 2014 5:50pm
Quoting 60minuteman
The simple elegance of trend trading is an amazing thing in the markets. Wait for a pull back, enter and hold.. no predictive technical analysis is needed, why do people think that is the only way, it's beyond me? You just need to trade the chart.
I agree, and a point comes where even a chart is not really required.
If you are good at something, never do it for free--Joker
  • #6,396
  • Apr 3, 2014 6:01pm Apr 3, 2014 6:01pm
Quoting jmn5611
{quote} I agree, and a point comes where even a chart is not really required.
yes... as long as you can accept losses and as long as you can wait for the big wins: most people will never make it over those hurdles and remain forever going sideways

Inserted Video
tradewith60
  • #6,397
  • Apr 3, 2014 7:28pm Apr 3, 2014 7:28pm
Quoting 60minuteman
{quote} yes... as long as you can accept losses and as long as you can wait for the big wins: most people will never make it over those hurdles and remain forever going sideways https://www.youtube.com/watch?v=lzTFNxPXZbw
A bigger part is also learning how to get your legs to survive as long as possible. As Gramae said, setting hard stops is just giving money to your broker.

"I stopped looking for daily/weekly profits. Traders focus too much on instant fulfilment. I also stopped using stop losses for most part of my trading. During my unsuccessful periods, I find that stop losses confirms my loss and just giving money to the brokers. I still use stop losses (sometimes) but they are much further apart. I can do this cause im comfortable and confident with my trades. " -- Samuel Gramae
If you are good at something, never do it for free--Joker
  • #6,398
  • Apr 4, 2014 12:07am Apr 4, 2014 12:07am
Quoting VEEFX
I am going to follow Cameron1st who have been with us since the beginning. Smart fellow... {image} {image} {image} {image}
This thread has been dead for a long time. What I know for certain is that G will never return and have good reasons not to. Professionals have a good reason not to actively participate in forums. Even if they did, their participation is short lived. I mean think about it. If you had to sweat tears and blood and finally reach a point where you become consistently profitable, would you be willing to share specifically what you are doing?

Even if a professional does attempt make some contribution in forums out of curiosity and amusement, it leads to nothing more but losing traders asking questions like "can you specifically tell me this?" and "can you specifically tell me that?" either by a public response or most likely a private message. This alone is very time consuming and is one of the very reasons why G told me this thread was one of his biggest regrets and ended up leaving.

Most importantly, the ultimate message G was trying to portray just falls deaf ears to most and this is a good thing to profitable traders because this will ensure they will continuously remain profitable in the times ahead.

The only thing you will end up having left in a forum like this will most likely be one of 2 categories:

1. Real new traders googling for answers in forums such as these, even though the ultimate answer is found within themselves. It just takes time for the enlightenment to reach them.
2. Non profitable self promoters who are focused on post count trying to reach super duper contributor status. These will cherry pick and post charts (most likely demo) of positions currently in profits and show others how good they are, gaining attention in the process. These are the kind that think they are something when in reality they are nothing. Ironic because they seem to help others when they can't even help themselves.

There is a good reason why popular threads for newbies like Sonic R. System will be laughed at by G and other professionals. You need losers following those kind of threads and being mislead so that professionals can take their money with greater ease.

This being said, despite the fact that this thread has been up almost 4 years, I still doubt anyone trying to grow their account trying to follow this approach actually hit big home runs and compounded their account such that they have actually reached professional status of being able to make a living out of trading.
  • #6,399
  • Edited 1:22am Apr 4, 2014 1:07am | Edited 1:22am
Quoting yonseo
{quote} This thread has been dead for a long time. What I know for certain is that G will never return and have good reasons not to. Professionals have a good reason not to actively participate in forums. Even if they did, their participation is short lived. I mean think about it. If you had to sweat tears and blood and finally reach a point where you become consistently profitable, would you be willing to share specifically what you are doing? Even if a professional does attempt make some contribution in forums out of curiosity and amusement, it...
Something Cameron posted a while ago is worth reposting now.


http://www.forexfactory.com/showthre...71#post4031871

"I will not elaborate any further in the above 2 theorems as I know this will lead to no progress in your learning phase. What works for me is for me."


There is a paradox in all of this ... Pipeasy's posts can be really understood, only after you become consistently profitable and happy with your trading ... the irony is that at that stage you don't need the information he presented anymore, because you have your own theorems.

Cheers,
  • #6,400
  • Apr 4, 2014 1:37am Apr 4, 2014 1:37am
Quoting stewrigh
{quote} Something Cameron posted a while ago is worth reposting now. http://www.forexfactory.com/showthre...71#post4031871 "I will not elaborate any further in the above 2 theorems as I know this will lead to no progress in your learning phase. What works for me is for me." There is a paradox in all of this ... Pipeasy's posts can be really understood, only after you become consistently profitable and happy with your trading ... the irony is that at that stage you don't...
Very valuable words indeed.
If you are good at something, never do it for free--Joker
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