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Building an equity millipede

  • #6,521
  • Sep 19, 2014 8:26am Sep 19, 2014 8:26am
Hi all,

I do not know if posting those charts again would be a violation of any of the forum rules. Can any one please confirm. Especially the experts and those who have been with and are aware of the rules of the FF forum rules. If it would not be a violation, I will repost the charts. I have those charts saved in my system.

Awaiting your feedback. Thanks.
  • #6,522
  • Sep 19, 2014 9:20am Sep 19, 2014 9:20am
Quoting Fxx Trader
Hi all, I do not know if posting those charts again would be a violation of any of the forum rules. Can any one please confirm. Especially the experts and those who have been with and are aware of the rules of the FF forum rules. If it would not be a violation, I will repost the charts. I have those charts saved in my system. Awaiting your feedback. Thanks.
Can't see why it would be a problem - posting charts is what we all do - please repost.
  • #6,523
  • Sep 19, 2014 12:16pm Sep 19, 2014 12:16pm
Quoting zusch
Hello Millipede'ers! Been a while since I last dropped into the thread that taught me how to trade. Last time I posted here I was talking about how I found stocks to be much easier to trade using this method. I haven't taken a FX trade in a 3-4 months and really haven't thought twice about it. Just flicked through 20+ pairs and there really hasn't been anything trending except for GBPUSD and AUDUSD. The great USDJPY trend (the only pair I currently follow on a weekly basis) has been on pause the last 4 months. Trading stocks gives you so much more...
Hello zusch. Your advice will be greatly appreciated please. My questions are:
1) How do you go about selecting the stocks to watch. Do you consider all US stocks from all the exchanges or do you just concentrate on one exchange (like the NASDAQ)? What is the minimum trading volume the stock should have? What price range stock do you consider?

2) Iam in the UK and I was consideraing trading these via a spread betting broker like IG Index. I know the spreads can be high, but I do not have the $25000 minimum deposit required to trade US stocks with US brokers, and also like the fact that I do not need to pay tax or CGT (yes I know one still pays these indirectly through the spreads). What do you think about using a spread betting broker? Will this method work with such (i.e. holding positions for long term growth), or will there be too much price manipulation by the spread betting broker to the detriment of my positions?

I await your reply, and many thanks.
  • #6,524
  • Sep 19, 2014 2:50pm Sep 19, 2014 2:50pm
Hi to all,

These are the charts.
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  • #6,525
  • Sep 19, 2014 9:36pm Sep 19, 2014 9:36pm
Anyone knows where did the original author go? Seems to have stopped posting since 2011. Hope he's doing OK.
  • #6,526
  • Sep 19, 2014 10:55pm Sep 19, 2014 10:55pm
You don't "hope" the author is doing well. Forex, as with any market is cyclic.


There is is a way the market can move where this millipede method will not work. Up 100. Down 200. Up 300. Down 500.

forex is all about trend. It is supposed to trend better than any other vehicle. YOU CANNOT MAKE A LIVING from forex. You can be UP huge for 9 months only to be down for four, back and forth.


That is why people come and go on this website. This website is very deceptive to guys like me who already make a good living. Forex is NOt better than stocks . The fact it is extremely liquid is NOT a good thing. That increases it randomness.
  • #6,527
  • Sep 22, 2014 7:03am Sep 22, 2014 7:03am
Quoting Sherpa
{quote} I am curious if anyone had long term success with this entry method.
Graeme described a number of entry methods on that 1 post alone.
Try some small careful sell stacking on EU - has been very good to me for a few months now.
Some sell stacking on AG & or AU & or EG
Some buy stacking on GU & or G...

Keep watching your margin levels as you stack. Do your sums to stretch your margin out to last for 8 - 12 mths.

cheers scalpz
Target 2 : Stoploss in the green
  • #6,528
  • Edited 9:58am Sep 22, 2014 9:24am | Edited 9:58am
Quoting chiba_san
You don't "hope" the author is doing well. Forex, as with any market is cyclic. There is is a way the market can move where this millipede method will not work. Up 100. Down 200. Up 300. Down 500. forex is all about trend. It is supposed to trend better than any other vehicle. YOU CANNOT MAKE A LIVING from forex. You can be UP huge for 9 months only to be down for four, back and forth. That is why people come and go on this website. This website is very deceptive to guys like me who already make a good living. Forex is NOt better than stocks . The...
Of course this isn't true. Not only have you proved a lack of understanding of Peter Crown's DIBS and Greg Wilson's compelling momentum strategy, but also a lack of understanding of G's milipede.

If the market moves according to your sequence:

up 100
down 200
up 300
down 500

While it is true that all the BUY/SELL breakeven positions on the 100 move up will be taken out by the 200 move down, and then the positions on the 200 move down get taken out by the 300 move up, with the last 500 move down you should have surviving SELL positions with some almost 500 pips in size.

Now let's say this pattern goes on:

up 600
down 700
up 800 and so forth

Even if this was the case its not a problem unless you NEVER exit any of your positions. So even if such movements occur, if you take profits based on previous highs or lows where your biggest positions is 500+ or 1000+ pips in size, the strategy still works.

The only real reason why NEARLY everyone fails at this strategy is due to the lack of patience to let your position grow (more so if you are trading VERY small size), as well as oversizing your trade position which creates drawdowns beyond what your account can handle. Of course there are other factors like unable to handle strings of 10 losses or more, as well as losing faith in the approach when positions hundreds of pips in size goes back to breakeven.
  • #6,529
  • Sep 22, 2014 11:32am Sep 22, 2014 11:32am
Quoting yonseo
{quote} Of course this isn't true. Not only have you proved a lack of understanding of Peter Crown's DIBS and Greg Wilson's compelling momentum strategy, but also a lack of understanding of G's milipede. If the market moves according to your sequence: up 100 down 200 up 300 down 500 While it is true that all the BUY/SELL breakeven positions on the 100 move up will be taken out by the 200 move down, and then the positions on the 200 move down get taken out by the 300 move up, with the last 500 move down you should have surviving SELL positions with...
i think ink he is closer to the truth than most would dare admit. I think it is possible to be a full time trader, but methods do work on and off. This particular method goes through periods of not working so well
  • #6,530
  • Oct 4, 2014 12:42pm Oct 4, 2014 12:42pm
Hi GUYS

Does any one have entire pdf of this thread???

If you do,Please upload.

Regards
Prakash
I am a hunter...i kill both bulls and bears...
  • #6,531
  • Oct 4, 2014 1:04pm Oct 4, 2014 1:04pm
Quoting chiba_san
You don't "hope" the author is doing well. Forex, as with any market is cyclic. There is is a way the market can move where this millipede method will not work. Up 100. Down 200. Up 300. Down 500. forex is all about trend. It is supposed to trend better than any other vehicle. YOU CANNOT MAKE A LIVING from forex. You can be UP huge for 9 months only to be down for four, back and forth. That is why people come and go on this website. This website is very deceptive to guys like me who already make a good living. Forex is NOt better than stocks . The...
That is why people come and go on this website

The other reason ppl come and go might be that their trading reaches a level where FF has nothing more to offer.
  • #6,532
  • Oct 4, 2014 1:16pm Oct 4, 2014 1:16pm
It been a long time since i visited this thread.I just want to read once again some of the posts but those posts are missing in this thread.

Am i alone facing this problem or else the posts which i want to read are deleted.
I am talking about some of the posts in 233 page.(ya,i still remember the page because i read this at least 12 times)

I lost the pdf of the entire thread.So,if some has it.Please, Upload it.

Regards
Prakash
I am a hunter...i kill both bulls and bears...
  • #6,533
  • Oct 4, 2014 1:20pm Oct 4, 2014 1:20pm
Quoting oathbreaker
It been a long time since i visited this thread.I just want to read once again some of the posts but those posts are missing in this thread. Am i alone facing this problem or else the posts which i want to read are deleted. I am talking about some of the posts in 233 page.(ya,i still remember the page because i read this at least 12 times) I lost the pdf of the entire thread.So,if some has it.Please, Upload it. Regards Prakash
I noticed it on a few other threads too I think it might bee= FF doing a cleanup.
  • #6,534
  • Oct 4, 2014 2:09pm Oct 4, 2014 2:09pm
Hi Vee

How r u?

It been a long time.

Do have this entire thread .pdf?


Regards
prakash
I am a hunter...i kill both bulls and bears...
  • #6,535
  • Oct 4, 2014 2:38pm Oct 4, 2014 2:38pm
Quoting VEEFX
I have stopped coming here as most of you know. Since I am already here, post any questions anyone might have and I will reply tonight (and then delete them tomorrow just like I have done in the past). You all have until midnight Pacific time zone
I see you first posted in this thread in 2010, I assume you have been and are still using this strategy?

If so have you been successful?

Additionally, do you 'day trade' like so many others on this website or do you feel that most of the day trading is a gambling?

Thanks
  • #6,536
  • Oct 4, 2014 11:52pm Oct 4, 2014 11:52pm
Quoting VEEFX
{quote} Those who say this thread is not profitable have got it all wrong!!!
I am learning from the same thread for many years.I am using my strategy based on this thread.I don't see any problem with this thread.

Thanks for your help.

Regards
prakash
I am a hunter...i kill both bulls and bears...
  • #6,537
  • Oct 5, 2014 10:26am Oct 5, 2014 10:26am
Quoting oathbreaker
{quote} I am learning from the same thread for many years.I am using my strategy based on this thread.I don't see any problem with this thread. Thanks for your help. Regards prakash
Perfect. That's the right approach!

Here's my mission statement:

A diversified Multi-Timeframe, Multi-Pair, Multi-Strategy Currency Portfolio using TA, FA, PA, Market Sentiment, Economic Events, Money/Order Flows, COT, Currency Strength, global stock market indeces and overal Macro Economic Analysis to achieve long term capital growth and quarterly income/dividend. Each strategy is driven by currency strength, Movers+Shakers and Money Flows. Flexible trading style incorporating scalping, swing, trend-following, trending momentum breakouts/bounces off S/R, supply/demand zones, pivots, major/minor lines, double/triple wick, tip of wick contrarian etc with guidance from Yearly, Monthly and Weekly price levels using price interpretation techniques from the "Building an Equity Millipede" thread. A combination of mostly market and some limit orders are used with varying SL, TP and risk levels spanning over a dozen trade setups at any given time in an attempt to keep the equity drawdowns under 15%.
Staying in my lane...
  • #6,538
  • Edited 11:25am Oct 5, 2014 11:09am | Edited 11:25am
Quoting VEEFX
{quote} Perfect. That's the right approach! Here's my mission statement: A diversified Multi-Timeframe, Multi-Pair, Multi-Strategy Currency Portfolio using TA, FA, PA, Market Sentiment, Economic Events, Money/Order Flows, COT, Currency Strength, global stock market indeces and overal Macro Economic Analysis to achieve long term capital growth and quarterly income/dividend. Each strategy is driven by currency strength, Movers+Shakers and Money Flows. Flexible trading style incorporating scalping, swing, trend-following, trending momentum breakouts/bounces...
Thought the essence of the millipede method was just participate and let the market decide the fate of your probe trades (low risk high probability to at least BE set-ups). What's with all these micro & macro analysis etc?
  • #6,539
  • Oct 5, 2014 11:35am Oct 5, 2014 11:35am
Quoting VEEFX
{quote} I assume you have been and are still using this strategy? YES If so have you been successful? YES do you 'day trade' like so many others on this website - NO but I do trade on most days and only when I am certain of price movements in either direction. do you feel that most of the day trading is a gambling? - for most of retail traders and wanabe professional traders, it is gambling if they have not taken the time to understand how markets work. If there is any kind of 'hope' or dependance of luck involved, then you are borderline Gambler....
Nice.

Couple more questions:

1- before you started following the methods in this thread were you profitable?

2- what currencies do you have open positions on that are profitable, and could you give us a breakdown of what that profit is in pips?

Thanks
  • #6,540
  • Edited 2:32pm Oct 5, 2014 2:02pm | Edited 2:32pm
Quoting VEEFX
{quote} 1- before you started following the methods in this thread were you profitable? I was absolutely a failure with a handful of blown accounts from 2007 thru 2010 and I attribute those failures to all the stupid threads out here on FF and my lack of looking at the big picture. It's mind boggling how much deceptive junk is created and followed in these threads. I have been trading stocks since 98 and only those stocks I am VERY VERY familiar with. Removing the stock market crashes, I could say I was beating the snp index with pure common sense...

Thanks for that.

I only ask about profits because I want to know what is achievable, for example, I have two small positions on USDJPY which both have 400-500 pips in profit, inspired by this thread.

It is interesting hearing from guys like you, because the more and more I trade and dig, the more I believe that day trading does not work, at least not in the manner practiced by 99% of the people on this board. So I have been moving to longer term approaches, position trading and using fundamentals to get a bias, using stop orders to ensure I am only buying when price is up and selling when price is down, and technicals to manage my leverage.

I just keep observing and asking people who are making money what they are doing, and I am consistently finding similarities in what they say. Don't day trade, use technicals to get you in and out and to manage risk, know your instruments well.

Thanks again - I saved your post, you made it into 'keepers' folder, only a few people in there
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