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ADX Engulfing Millipede

  • #21
  • Aug 20, 2014 2:25pm Aug 20, 2014 2:25pm
Hi HH Agree, whatever way you rationalise the take profit issue is correct as it is only your brain which suffers the torment of the ifs and buts. I find the most rewarding part with this type of trading is the luxury of time to properly take stock of the scenario and any decision made is not rash. So many times when trading the 5 & 1m the torment of "Shoulda, Coulda, If Only" crept in for me ! Anyway good luck with the thread & your endeavours. Cheers Stu[/quote]

I agee Stu - having time on your side allows you to plan, which is something so many traders don't do.

Also, I can honestly say the rush of seeing the compound effect of a 100 pip impulse move when you have a number of trades in place that are at BE and safe is way beyond anything I ever expereinced scalping.
  • #22
  • Aug 20, 2014 3:53pm Aug 20, 2014 3:53pm
This method seems very solid and I shall be testing it out over the next week or so.

Which pairs do/dont you trade?

Thanks for sharing!
  • #23
  • Aug 21, 2014 2:09am Aug 21, 2014 2:09am
Quoting Ty-
This method seems very solid and I shall be testing it out over the next week or so. Which pairs do/dont you trade? Thanks for sharing!
Hi Ty

Thanks for dropping by. This works with all instruments. What I do is find something that is trending, look for a reasonable pullback and start building positions from the pullback. Good trading and remember there's no rush.

Cheers

Steve
  • #24
  • Nov 1, 2014 6:29am Nov 1, 2014 6:29am
I reckon that anyone trading any kind of millipede method, whatever entry mode has a had a good week. I just takes participation, discipline and patience.
  • #25
  • Nov 1, 2014 7:38am Nov 1, 2014 7:38am
Hi Steve,
Can I ask how often you look to re-enter and build a millipede.
Do you enter using the h1 or higher.

Great thread btw and your explanation of Graemes approach is spot on IMHO
  • #26
  • Nov 1, 2014 8:47am Nov 1, 2014 8:47am
Quoting stewrigh
Hi Steve, Can I ask how often you look to re-enter and build a millipede. Do you enter using the h1 or higher. Great thread btw and your explanation of Graemes approach is spot on IMHO
Thanks - I pretty much try and enter as often as I can. I have a lot of work commitments and struggle to trade on lower TF, so I pretty much use the 4h. I have mt4 on a VPS, with push notifications for engulfing, outside and pin bars across 26 instruments. I try and just take the trade to get in, move it to BE a few bars later or let it stop out. I am focussing on using weekly and monthly S/D areas to take sme profit (diversify).
  • #27
  • Nov 1, 2014 8:52am Nov 1, 2014 8:52am
Quoting hollowhead
{quote} Thanks - I pretty much try and enter as often as I can. I have a lot of work commitments and struggle to trade on lower TF, so I pretty much use the 4h. I have mt4 on a VPS, with push notifications for engulfing, outside and pin bars across 26 instruments. I try and just take the trade to get in, move it to BE a few bars later or let it stop out. I am focussing on using weekly and monthly S/D areas to take sme profit (diversify).
Thanks Steve,
Yeah I like the H4 mainly cos it gives fewer and more reliable signals - I use the H1 and 15m to fine tune the entry.
  • #28
  • Nov 1, 2014 10:57pm Nov 1, 2014 10:57pm
Can u tell me more about the Abonacci Template, I cant get it to cover past candles.. Are the 100 marks take profits.
  • #29
  • Nov 2, 2014 1:21am Nov 2, 2014 1:21am
Quoting stewrigh
{quote} Thanks Steve, Yeah I like the H4 mainly cos it gives fewer and more reliable signals - I use the H1 and 15m to fine tune the entry.
I think using the 4h signal with a 15m entry point & SL is the best way to go, unfortunately work pressure stops me being able to spend the chart time to get the entry that tight.
  • #30
  • Nov 2, 2014 1:23am Nov 2, 2014 1:23am
Quoting 12hrman
Can u tell me more about the Abonacci Template, I cant get it to cover past candles.. Are the 100 marks take profits.
Hi 12hrman - everything you need to know is at http://www.forexfactory.com/showthread.php?t=449489, this is the not the right thread to discuss it.
  • #31
  • Nov 2, 2014 4:14am Nov 2, 2014 4:14am
Personally, I perfer Wilder's original ADX. MT4's ADX is somewhat choppy.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #32
  • Nov 20, 2014 12:48pm Nov 20, 2014 12:48pm
Since there are many trades at the same time...how much % do you risk per setup? I am not sure if this was mentioned anywhere and I aplogize in advvance if I missed out...
  • #33
  • Nov 20, 2014 12:56pm Nov 20, 2014 12:56pm
Quoting joe12345
Since there are many trades at the same time...how much % do you risk per setup? I am not sure if this was mentioned anywhere and I aplogize in advvance if I missed out...
Hi Joe

I don't have a fixed percentage. To be honest I don't think in percentage terms, I try to go with 0.1 lot per £5000. But it also depends on the pair, the setup and to be honest how disciplined I am at the time. Over staking a trade is my achilles heel - when I lose discipline it costs me.
  • #34
  • Nov 24, 2014 6:55pm Nov 24, 2014 6:55pm
Quoting hollowhead
{quote} Thanks - I pretty much try and enter as often as I can. I have a lot of work commitments and struggle to trade on lower TF, so I pretty much use the 4h. I have mt4 on a VPS, with push notifications for engulfing, outside and pin bars across 26 instruments. I try and just take the trade to get in, move it to BE a few bars later or let it stop out. I am focussing on using weekly and monthly S/D areas to take sme profit (diversify).

Hi Hollowhead,
What kind of SL do you set on the H4 that you trade with the ADX entries?
Thanks, Kash
  • #35
  • Nov 24, 2014 11:31pm Nov 24, 2014 11:31pm
Hi kashTrader - I ususally use the last swing low/high or the other side ofr the last supply/demand area. If they're too far away I might use those area on the H1 or 15min. Hope that helps.
Steve
  • #36
  • Nov 25, 2014 2:44am Nov 25, 2014 2:44am
For me, the best system for FF

thank Hollowhead
  • #37
  • Nov 25, 2014 9:33am Nov 25, 2014 9:33am
Quoting hollowhead
Several people have sent me PMs to ask about my ADX Engulfing Millipede Trade Explorer and the system, so I thought I’d post it in a thread. First off – there is nothing really new in it – it is several jigsaw pieces that I have put together to make a picture that works for me. Thanks and ackledgement must go to pipEasy for revealing so much. Bobi Abonacci for showing me (inadvertently) how to find some great long-term targets and be patient and wait, HDA for demonstrating how to stick to your plan, and FXDayTrader for helping get the indicators...
Hi Steve,

Thanks for sharing ADX. Nice template. Keep it up.
  • #38
  • Nov 28, 2014 1:42pm Nov 28, 2014 1:42pm
Quoting hollowhead
Hi kashTrader - I ususally use the last swing low/high or the other side ofr the last supply/demand area. If they're too far away I might use those area on the H1 or 15min. Hope that helps. Steve

Hey buddy could you possibly post another chart or two to show an example of how you entered on your recent cable trade. I know Graham strongly insists on picking your own entry method and I do agree with that, however I just want to see how you entered and moved to be. I have a engulfing reversal method of entry but I do not use the ADX and don't really believe in using any indicators, but I think our methods are somewhat similar despite the indicator. Would love to see some examples from your recent trades.
  • #39
  • Dec 1, 2014 12:33am Dec 1, 2014 12:33am
Hi hollowhead,

I'm using your template. It's working fine.
ADX is Ok.
can u explain about supply and demand zones?
Quote
NB

Other things to bear in mind are daily/weekly/monthly supply and demand zones – and support and resistance levels - these are areas I am watching for good action to start building positions.

Bendz
  • #40
  • Dec 1, 2014 2:50am Dec 1, 2014 2:50am
Quoting hollowhead
{quote} Thanks - I pretty much try and enter as often as I can. I have a lot of work commitments and struggle to trade on lower TF, so I pretty much use the 4h. I have mt4 on a VPS, with push notifications for engulfing, outside and pin bars across 26 instruments. I try and just take the trade to get in, move it to BE a few bars later or let it stop out. I am focussing on using weekly and monthly S/D areas to take sme profit (diversify).
Hi hollowhead, thanks for sharing the method. Was just wondering if it's an indicator that sends you the notifications for engulfing, outside and pin bars? Do you mind telling me where to get it or share it here? Thanks a bunch!
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