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  • #521
  • Nov 29, 2014 3:13pm Nov 29, 2014 3:13pm
Find 1000 people each with $1000. Half enter long, half short. Lever the positions so 200 pips will double the money. After a day or two, 500 people will be twice as rich. Repeat the process ten times. By the end, one person will be a millionaire, think he's a trading genius, and win a crowd of devotees who hang hopefully on his every word. Quite a few of the losers will lament that they got *this* close to success, but disobeyed their rules, or lost discipline, or were attacked by a black swan. Many will be back studying their charts for a better entry. But those with any sense at all will get a real job and recover their money.

Consider the "diversification" claptrap. The aim of the millipede strategy is to hold on to winners for the long term, except, of course, when you don't. By some magic insight, we only hold on to those trades in line with the main trend (which we magically discern) and we sell off counter-trend trades at the (magic) point where the retracement stops.

That sounds easy. What could possibly go wrong?
  • #522
  • Nov 29, 2014 3:40pm Nov 29, 2014 3:40pm
Quoting Stu Effex
Allan please share what is on both arguments (homeopathy and millipede trading)
Both are based on hope and supported by anecdote. If this strategy was supported by hard, repeatable evidence, it would be so widely used it would cease to be effective. (No one in their right mind would broadcast a successful trading strategy, no more than you would publish a genuine treasure map.)

No doubt many who trust in homeopathy will get better. That's because most people get better whatever they do. In the same way, no doubt many millipede devotees will make money for a time. That's because, beginning with a large number of traders, a (dwindling) proportion will make money whatever they do.
  • #523
  • Nov 29, 2014 3:40pm Nov 29, 2014 3:40pm
Quoting srt
{quote} Keep making entries. Never know when the next 500-1000 pip move will start.
SRT in simple terms yes. Please explain to that dipshit Allan. He still hasn't offered what works in his eyes but continues with his bullshit. Why do these type of idiots want to be the protector of the realm when they offer no valid argument.

On a happier note England beat Autralia today 26 -17 not the finest of displays but a win is a win.

Forex Factory ban me if you like but up to the back teeth with you letting people assassinate other members without substantiating their bullshit
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #524
  • Nov 29, 2014 3:49pm Nov 29, 2014 3:49pm
Quoting AllanS
{quote} Both are based on hope and supported by anecdote. If this strategy was supported by hard, repeatable evidence, it would be so widely used it would cease to be effective. (No one in their right mind would broadcast a successful trading strategy, no more than you would publish a genuine treasure map.) No doubt many who trust in homeopathy will get better. That's because most people get better whatever they do. In the same way, no doubt many millipede devotees will make money for a time. That's because, beginning with a large number of traders,...
If you feel this way why don't you simply fuck off and leave others to decide their fate. . What you have offered isn't hard facts.
Just who are you trying to protect ?

Please sensible minded readers here please come forward and put this dip shit in his place.

FF I have asked nicely on more than one occasion but there comes a point when clicks won't matter. I have been in touch with the advertisers as you well know. Please take out the trash !!
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #525
  • Nov 29, 2014 3:49pm Nov 29, 2014 3:49pm
Quoting AllanS
{quote} Both are based on hope and supported by anecdote. If this strategy was supported by hard, repeatable evidence, it would be so widely used it would cease to be effective. (No one in their right mind would broadcast a successful trading strategy, no more than you would publish a genuine treasure map.) No doubt many who trust in homeopathy will get better. That's because most people get better whatever they do. In the same way, no doubt many millipede devotees will make money for a time. That's because, beginning with a large number of traders,...
Isn't it true of any method that only a few that try it will make it work? There are many methods of trading but few have the discipline to follow it as taught so fail to make it work. Look @ the "Turtle Traders". Only the ones that follow specific rules were able to make it work. Same with the method shown here by Fez. How many can hold a position for 500-1000 pips without taking the profit? Very few I'm guessing. Doesn't mean the method doesn't work.
  • #526
  • Nov 29, 2014 3:53pm Nov 29, 2014 3:53pm
The one thing that struck me most about Fez's trading style, right from the outset, it is very time intensive.

If you were to choose a student of History, or maybe Politics, even Media Studies, possibly Sociology then there is a reasonable prospect of having or creating such time.

Even a student of psychology, undertaking a particular study.

Then again maybe that's why Fez has paid just a fleeting visit, time is scarce for a medical student...
  • #527
  • Nov 29, 2014 3:59pm Nov 29, 2014 3:59pm
Quoting srt
{quote} Isn't it true of any method that only a few that try it will make it work? There are many methods of trading but few have the discipline to follow it as taught so fail to make it work. Look @ the "Turtle Traders". Only the ones that follow specific rules were able to make it work. Same with the method shown here by Fez. How many can hold a position for 500-1000 pips without taking the profit? Very few I'm guessing. Doesn't mean the method doesn't work.

SRT "NAIL ON HEAD" comes to mind. If you think it is something that fits your persona they try it, if not move on !!!!! Come on be vocal here readers who needs the amateur detective to protect them ? Or can you form your own conclusions ? Please speak up.
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #528
  • Edited 4:19pm Nov 29, 2014 4:04pm | Edited 4:19pm
Quoting epson
The one thing that struck me most about Fez's trading style, right from the outset, it is very time intensive. If you were to choose a student of History, or maybe Politics, even Media Studies, possibly Sociology then there is a reasonable prospect of having or creating such time. Even a student of psychology, undertaking a particular study. Then again maybe that's why Fez has paid just a fleeting visit, time is scarce for a medical student...
I disagree with this.
If you pick 10 pairs & only watch the daily timeframe, you could spend less than 30 minutes a day.
Wait for a new high/low and mark the swing-point that was broken.
Let price go a distance away from the S/R line.
Place a pending buy/sell @ the S/R line with a 30 pip SL.
If entry is made, let price get to +30 pips & move SL to BE.
Nothing to do now except check it daily.

Keep repeating the process with all 10 pairs. Shouldn't happen more than 1-2 times a week that you get an entry & need to act.

I think too many are stuck on the 5 pip SL. He's using the lower time-frames to get those entries. If you look @ the GU daily chart I posted above & only made attempts @ good S/R areas, there weren't too many "obvious", well defined areas. If you made 10 other attempts & had a 30 pip SL, you'd still have 3,300 pips minus 300 pips (10x30 if none moved to BE) so 3,000 pips.
  • #529
  • Edited 4:20pm Nov 29, 2014 4:08pm | Edited 4:20pm
Quoting Stu Effex
{quote} SRT "NAIL ON HEAD" comes to mind. If you think it is something that fits your persona they try it, if not move on !!!!! Come on be vocal here readers who needs the amateur detective to protect them ? Or can you form your own conclusions ? Please speak up.
  • #530
  • Nov 29, 2014 4:20pm Nov 29, 2014 4:20pm
Quoting Stu Effex
that dipshit Allan.
I thought you disliked character assassination?

Given 1000 traders and random entry/exit, a few will end up wildly successful. Reading your passionate defense, I presume you have evidence that millipede traders do significantly better than this, or are you simply an enthusiastic believer living in hope?

At the time, I looked closely at "Graeme's" claims and strategy, and decided he was lucky, lying or delusional. I've presented evidence that Fez is much the same. I don't trust luck, liars or lunatics. Who and what you trust is entirely your concern.
  • #531
  • Nov 29, 2014 4:27pm Nov 29, 2014 4:27pm
Maybe you are right SRT, maybe this old brain just doesn't work as fast as it used to do - 10 pairs in half an hour, then make maybe around half million dollars.

You guys call this trading!

Oh to be young again
  • #532
  • Nov 29, 2014 4:39pm Nov 29, 2014 4:39pm
Quoting AllanS
{quote} I thought you disliked character assassination? Given 1000 traders and random entry/exit, a few will end up wildly successful. Reading your passionate defense, I presume you have evidence that millipede traders do significantly better than this, or are you simply an enthusiastic believer living in hope? At the time, I looked closely at "Graeme's" claims and strategy, and decided he was lucky, lying or delusional. I've presented evidence that Fez is much the same. I don't trust luck, liars or lunatics. Who and...

Allan you are correct I don't. However patience wears thin and I have tried to reason with you but you seem to be insistent upon causing argument ?

How many system threads have you looked at ? You are obviously not profitable but do you spout the same bullshit in them all because it is beyond something you can comprehend ? No ? Then why do it here just move on. The burden of protecting poor misguided souls does not have to be at your feet.
This is getting stupid and I don't want this to detract from the good work FEZ has done. Allan PM me with how you trade and I will assist you to become profitable, I don't harbour grudges. This is a genuine man to man offer, up to you. I won't be responding any further here.
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #533
  • Nov 29, 2014 5:27pm Nov 29, 2014 5:27pm
Quoting AllanS
{quote} I thought you disliked character assassination? Given 1000 traders and random entry/exit, a few will end up wildly successful. Reading your passionate defense, I presume you have evidence that millipede traders do significantly better than this, or are you simply an enthusiastic believer living in hope? At the time, I looked closely at "Graeme's" claims and strategy, and decided he was lucky, lying or delusional. I've presented evidence that Fez is much the same. I don't trust luck, liars or lunatics. Who and...

Allan this is not something I take pleasure in doing, but as you asked this is the kind of thing you can achieve. This is nothing out of the ordinary for the people who have this approach, notice this is without stacking ! Just give it a go and quit the talk.

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Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #534
  • Nov 29, 2014 5:46pm Nov 29, 2014 5:46pm
For Allan & others.

Not saying it will work for everyone or even most...just saying it can work.
These are from my PI thread.
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PS...entries were taking off of break of high...not at support & resistance.
  • #535
  • Nov 29, 2014 6:09pm Nov 29, 2014 6:09pm
Quoting spyderman
For Allan & others. Not saying it will work for everyone or even most...just saying it can work. These are from my PI thread. {image} {image} PS...entries were taking off of break of high...not at support & resistance.
Nice stackin' there Spyder
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #536
  • Nov 29, 2014 8:31pm Nov 29, 2014 8:31pm
Think like a farmer who planted the seed. Good seed will grow, bad seed will die. Until later the farmer harvest the result....
  • #537
  • Nov 29, 2014 8:31pm Nov 29, 2014 8:31pm
Quoting spyderman
For Allan & others. Not saying it will work for everyone or even most...just saying it can work. These are from my PI thread. {image} {image} PS...entries were taking off of break of high...not at support & resistance.
MT4/MT5 EAs/Indicators/Alerts coder
  • #538
  • Nov 29, 2014 9:13pm Nov 29, 2014 9:13pm
Quoting AllanS
{quote} I thought you disliked character assassination? Given 1000 traders and random entry/exit, a few will end up wildly successful. Reading your passionate defense, I presume you have evidence that millipede traders do significantly better than this, or are you simply an enthusiastic believer living in hope? At the time, I looked closely at "Graeme's" claims and strategy, and decided he was lucky, lying or delusional. I've presented evidence that Fez is much the same. I don't trust luck, liars or lunatics. Who and what you trust is entirely your...
This chart is straight out of Graeme's thread on one way to millipede. Keep participating until you get that run. I have to ask Allan, just how hard did you look at building an equity millipede?
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If you are good at something, never do it for free--Joker
  • #539
  • Nov 29, 2014 10:23pm Nov 29, 2014 10:23pm
"central banks and big players" thread by tony + "building equity millepede" by graeme = Tsuname Style

it is like tony's 5 pip SL on steroids or maybe millipede on steroid is better?
  • #540
  • Nov 29, 2014 10:54pm Nov 29, 2014 10:54pm
Quoting spyderman
Not saying it will work for everyone or even most...just saying it can work.
Of course it will work for some. Of the many thousands who have tried the millipede method, a few punters will still be active, and some will be successful. It's a statistical artifact. The same would be true of a perfectly random entry/exit strategy.

Anecdotes are not evidence. If a simple strategy really is better than random (eg: buy the break of highs and wait for the miracle run), then every man and his dog would be using it. Dead easy to program. Truth is, over different market conditions, a simple strategy like this not only doesn't work, it *cannot* work. In the same way, a few simple chess moves cannot win, in the long run, against a Grand Master, let alone against automated players like Deep Blue.

I recall "Graeme" telling us he got 80% of his trades to BE. At the news, no doubt, every hedge fund on the planet sent him generous offers of employment... In Fantasy Land, I dare say he also played chess with Kasparov and won four games out of five.
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