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Building an equity millipede

  • #6,501
  • Aug 27, 2014 6:57am Aug 27, 2014 6:57am
Quoting SmoothTrader
{quote} Excellent summation. Two additional words: participation & patience help to sum it up as well. GREEN pips to you always
Thank you Smooth Trader. Glad to hear I'm on the right track GREEN PIPS to you always as well!
Entities should not be multiplied without necessity - Occam's razor
  • #6,502
  • Aug 27, 2014 8:18am Aug 27, 2014 8:18am
Quoting frosty85
{quote} Thank you Smooth Trader. Glad to hear I'm on the right track GREEN PIPS to you always as well!
Hi Frosty,

I really appreciate your Summary.

I am a complete noob to this method and have recently begun to re-read Graeme's posts. The sense that I have is that he does not necessarily take a position everyday on his pairs of interest, so that his sense of trend would be determined firstly by price flow on higher TFs then later confirmed by his order book which might take a month or more to be really clear - at least in the beginning. Early in the thread he gives a daily work example, but later with his chart exercises he emphasizes spacing orders and trading less rather than more. Not exactly Swing trading but more so than Day trading. However, if and when momentum appears, he will stack aggressively on the H4/H1 TFs with razor sharp Entries and close SL.

I have chased a lot of rabbits. This approach I can relate to.

Best, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #6,503
  • Aug 28, 2014 1:52am Aug 28, 2014 1:52am
Quoting AlbinaGrande
{quote} Hi Frosty, I really appreciate your Summary. I am a complete noob to this method and have recently begun to re-read Graeme's posts. The sense that I have is that he does not necessarily take a position everyday on his pairs of interest, so that his sense of trend would be determined firstly by price flow on higher TFs then later confirmed by his order book which might take a month or more to be really clear - at least in the beginning. Early in the thread he gives a daily work example, but later with his chart exercises he emphasizes spacing...
Hi AG,

I'm also still in the learning process and actually made the summary for my learning purposes, but I'm glad to hear from an expert that the summary was on the right track I am currently applying Graeme's method on EUR/USD since downtrend can be clearly seen in that pair for the last month or so. Still in the process of perfecting my entry methods. Since this is still my learning phase, I'm using only 0.01 lots instead of 0.1 lots to reduce my risks significantly

I wish you and everyone abundant positive pips
Entities should not be multiplied without necessity - Occam's razor
  • #6,504
  • Sep 1, 2014 1:04am Sep 1, 2014 1:04am
Hi all,

I want to ask also about the brokerage risk, i.e. the risk of something happening to the broker that makes it go out of business. I'm pretty sure Graeme mentioned this already in some of his posts, but I can't seem to find any details on possible solutions.

Is there a way to ensure something bad doesn't happen to our broker when we are building up our legs? maybe splitting our account in to a few different brokers is a solution? Just want to hear the seniors' experience and/or suggestions Thanks!
Entities should not be multiplied without necessity - Occam's razor
  • #6,505
  • Sep 1, 2014 3:48pm Sep 1, 2014 3:48pm
Quoting frosty85
Hi all, I want to ask also about the brokerage risk, i.e. the risk of something happening to the broker that makes it go out of business.
Hi Frosty, this question is called "counter party risk" and it's extremely important. You need to know/check that your broker is well capitalised and fully regulated. A lot will not disclose their capital (hint that means it's tiny) and a lot will give the impression of being regulated but if you dig deeper into their country's regulations you can find they only have the bare minimum and dress it up as something impressive.

Another dead give away is if they are new and offer zero spreads of some other too good to be true enticement. The last broker to offer zero spreads in Australia went bust last year and their clients are finding it very hard to get their money out from my understanding.

Lastly look at who the owners are. I saw someone asking about a new firm in NZ a few weeks ago, a small amount of digging revealed it was just a virtual office and the owners lived in Canada wearing some pretty foreign names. I'm not saying anything about Canada or foreign names but surely if you want to run a business properly you don't have to hide behind other countries easy regs and be living elsewhere?

Longevity is the key. How long have they been doing business? Have they survived through all the volatility of the last 20 years?

Hope that helps.
  • #6,506
  • Sep 1, 2014 4:51pm Sep 1, 2014 4:51pm
Quoting chiba_san
{quote} Edit: Based on this post (which was one of Graeme's last ones) and Peter Crowns 41 posts (a trader Graeme has made reference to in the past)... I have come to the following conclusion: Enter 2 positions. Exit half at 1:1 or 2:1 or 3:1 NEVER change the Stop Loss Let the other position run forever or until it gets stopped out AT the SL originally set for it. No "diversification" whatsoever (Graeme initially talked about this and so many hours and questions revolved around this, but in the end, he admitted this could be abandoned). You don't...







hey man i thin thats a even better good way of see the things but another thing when you said first that put two positions do you meant hedge at buy and sell with both sl and breackeven thanks in andvance??
  • #6,507
  • Sep 2, 2014 12:21am Sep 2, 2014 12:21am
hello all,

thank you for sharing the 2 pdfs previously with pipEasy's posts.
I have noticed that there are more posts by pipEasy, beyond the ones accumulated in the pdfs.
images are sadly gone as they were apparently hosted by imageshack.
If anyone has saved the posts with images I, for one, would be greatful.

thank you in advance,
aristides.
  • #6,508
  • Sep 2, 2014 8:52pm Sep 2, 2014 8:52pm
Quoting Hyperion
{quote} Hi Frosty, this question is called "counter party risk" and it's extremely important. You need to know/check that your broker is well capitalised and fully regulated. A lot will not disclose their capital (hint that means it's tiny) and a lot will give the impression of being regulated but if you dig deeper into their country's regulations you can find they only have the bare minimum and dress it up as something impressive. Another dead give away is if they are new and offer zero spreads of some other too good to be true enticement. The...
Hi Hyperion,

I really appreciate you taking the time to share this insight with us. I'll try to research more about the brokers and their reputations before putting money in them Thanks for your helpful insight!
Entities should not be multiplied without necessity - Occam's razor
  • #6,509
  • Sep 2, 2014 9:02pm Sep 2, 2014 9:02pm
Quoting aristid
hello all, thank you for sharing the 2 pdfs previously with pipEasy's posts. I have noticed that there are more posts by pipEasy, beyond the ones accumulated in the pdfs. images are sadly gone as they were apparently hosted by imageshack. If anyone has saved the posts with images I, for one, would be greatful. thank you in advance, aristides.
Hi Aristid,

I think one of the .zip attachments (I think it was called "graeme's posts only.zip) contains 2 PDFs with the pics in them. In case you didn't know, please click on the clip with the number 964 on the top right hand corner of the thread to find the attachments.

Hope that helps
Entities should not be multiplied without necessity - Occam's razor
  • #6,510
  • Sep 4, 2014 6:37am Sep 4, 2014 6:37am
Hello all. Still reading this long thread (not had much time of late), and I believe I am begining to grasp the essence of this method. If I am correct, it''s basically take trades based on your own entry methods with tight stop loss and a high probablity to at least reach breakeven, in the dirtection of the main trend (mainly the weekly trend). Once a trade survives - reaches breakeven (now a leg) and still in survival after at least a couple of weeks, stack on the trade (leg).
However, there is something I am still a bit confused about (may be this will become clearer or I will find the answer the futher I go in the thread). Greame mentioned quite a number of times about taking trades in both directions (i.e. buy and sell trades). If we are meant to take trades in the direction of the main trend, let's say in this case the trend (weekly/monthly) is up, should we not then be taking just buy trades, as opposed to taking both buy and sell trades? Your assistance here will be greatly appreciated.
  • #6,511
  • Sep 4, 2014 11:45pm Sep 4, 2014 11:45pm
Quoting danjuma
Hello all. Still reading this long thread (not had much time of late), and I believe I am begining to grasp the essence of this method. If I am correct, it''s basically take trades based on your own entry methods with tight stop loss and a high probablity to at least reach breakeven, in the dirtection of the main trend (mainly the weekly trend)....
Hi danjuma

I can assure you that you will find your answer in first 10 pages of this thread.
  • #6,512
  • Sep 5, 2014 3:00am Sep 5, 2014 3:00am
Hi rew2k7,

I have actually read more than 10 pages, in fact I think up to 200 pages (in the pdf of just Greame's posts). Must have missed it. Will go back and read the first 10 pages in this thread like you suggested. Thanks
  • #6,513
  • Sep 6, 2014 1:27am Sep 6, 2014 1:27am
Quoting frosty85
{quote} Hi Aristid, I think one of the .zip attachments (I think it was called "graeme's posts only.zip) contains 2 PDFs with the pics in them. In case you didn't know, please click on the clip with the number 964 on the top right hand corner of the thread to find the attachments. Hope that helps
thank you for your reply frosty85.

I am very familiar with the 2 pdfs you are talking about.
I am also familiar with pipeasy's further posts (beyond the pdfs). Some good points there also.
The pictures are not massively important, I am just wondering if anyone has a record.

thanks again,
aristides.
  • #6,514
  • Sep 6, 2014 12:13pm Sep 6, 2014 12:13pm
Quoting danjuma
... I am still a bit confused about (may be this will become clearer or I will find the answer the futher I go in the thread). Greame mentioned quite a number of times about taking trades in both directions (i.e. buy and sell trades). If we are meant to take trades in the direction of the main trend, let's say in this case the trend (weekly/monthly) is up, should we not then be taking just buy trades, as opposed to taking both buy and sell trades? Your assistance here will be greatly appreciated.
Hi danjuma

But you never know what will happen next hour, tomorrow, next week. As Graeme said - you have to participate. Even in down trend, you never know your long entry might be the beginning of a retrace or trend change. But you have to be in.
There is a great post by therealthing in one of the threads, where he tells his story about long entry in downtrend (which he was sure it will fail but took it anyway).Here is the link. http://www.forexfactory.com/showthre...687#post220687
  • #6,515
  • Sep 6, 2014 4:03pm Sep 6, 2014 4:03pm
Quoting rew2k7
{quote} Hi danjuma But you never know what will happen next hour, tomorrow, next week. As Graeme said - you have to participate. Even in down trend, you never know your long entry might be the beginning of a retrace or trend change. But you have to be in. There is a great post by therealthing in one of the threads, where he tells his story about long entry in downtrend (which he was sure it will fail but took it anyway).Here is the link. http://www.forexfactory.com/showthre...687#post220687
Thank you.
  • #6,516
  • Sep 6, 2014 9:48pm Sep 6, 2014 9:48pm
Quoting AlbinaGrande
{quote} Hi Frosty, I really appreciate your Summary. I am a complete noob to this method and have recently begun to re-read Graeme's posts. The sense that I have is that he does not necessarily take a position everyday on his pairs of interest, so that his sense of trend would be determined firstly by price flow on higher TFs then later confirmed by his order book which might take a month or more to be really clear - at least in the beginning. Early in the thread he gives a daily work example, but later with his chart exercises he emphasizes spacing...
Hi Ag,

Graeme does enter the market everyday, because that is the power of participation. As no one is sure where the market will go, he just participates and let the market decide the fate of his entries. Many of this entries die a natural death at break even. In post # 8, Graeme notes that many of his entries that he has entered on the same day has survived nearly a year.

He does point out that it is important to not try to enter too many times on the same day (Post #4). Also in post #8, Graeme points out that he will re-enter at a maximum of 2-3 times based on S/R, price patterns and break outs.

Hope this helps in your understanding.
  • #6,517
  • Sep 7, 2014 9:50am Sep 7, 2014 9:50am
Quoting markgrejaldo
{quote} Hi Ag, Graeme does enter the market everyday, because that is the power of participation. As no one is sure where the market will go, he just participates and let the market decide the fate of his entries. Many of this entries die a natural death at break even. In post # 8, Graeme notes that many of his entries that he has entered on the same day has survived nearly a year. He does point out that it is important to not try to enter too many times on the same day (Post #4). Also in post #8, Graeme points out that he will re-enter at a maximum...
Many Thanks, AG
Do not dwell in the past, do not dream of the future, concentrate the mind.
  • #6,518
  • Sep 12, 2014 9:43pm Sep 12, 2014 9:43pm
Quoting pipEASY

http://www.forexfactory.com/showthre...96#post3899196
I am curious if anyone had long term success with this entry method.
  • #6,519
  • Sep 13, 2014 3:15am Sep 13, 2014 3:15am
Quoting Sherpa
{quote} I am curious if anyone had long term success with this entry method.
I don't follow it, religiously but I have picked up a few useful pointers. I think we all need to develop our own style with trading and I found the concept of a millipede useful but don't really trade it.

there are facts embedded in my posts which will be of great help.

Take what you find useful from this and build your own method.

If its up then BUY, if its down then SELL. You would be amazed at what secrets are behind that sentence.


Or basically follow the trend
  • #6,520
  • Sep 19, 2014 1:26am Sep 19, 2014 1:26am
Is anyone able to see the charts that are posted on pages 7 and 8. I ask because for some reason I do not see the charts at all. Any help would be greatly appreciated.

Thanks,

AB
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