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Building an equity millipede

  • #6,921
  • Jan 1, 2015 8:21am Jan 1, 2015 8:21am
Quoting arvindeept
{quote} Pls provide the details of initial investment you are looking at to get into this mode of trading........and then how much risk are you willing to take ........not in terms of no. of pips but $ per trades..............lets discuss it
Arvindeept,
in this early stage of my approach to this method I have no details so far. It depends on the hard numbers the backtests will show concerning entry and exit. Sorry that I use this post to also write to other traders.
If anyone interested has hard numbers of the monthly and weekly candles I invit him to share.
As I have a fulltime job and only a few hours of time per week any help is appreciated.
All pairs without the exotic ones with spreads of 10 pips and more are in interest.
As the data of each candle contains open, high, low and close there can be derivated
- extent of the candle body
- extent of the wicks
- retrace to previous candle
- duration of trends
- duration of rangings
- behaviour at pivot points/-zones
- ??? surely I missed further possible measurements ( I`m no prof in this)

I know that proffessional traders/institutions don`t look to charts so much. In fact they calculate probabilities
to get the advantage to their side! So why not acting in similar way?
Look at the screen please. By doing this effort I want to elaminate needless entries in areas where the probability is high that my positions are stopped out. Thus avoiding a lot of lost pips. I want to focuss out these areas there the advantage is on my side with a higher %-chance.

Any thoughts?

Greetings
Attached Image (click to enlarge)
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Have a nice day
  • #6,922
  • Jan 1, 2015 8:42am Jan 1, 2015 8:42am
Quoting ProsteJa
{quote} I think those 3-4 days are worth spending. Maybe you find something interesting.
Maybe ? This answer doesn`t satisfy me. Did you read it? Is there something specific which wasn`t discussed in the first 260 pages?

Quote
I personally love weekly chart but my capital is not big enough to trade it for now. I mean SL size would be much bigger, but hopefully one day...
I have an account of about 500 €. Trading with microlotsize. (1pip= 0,08 €). Setting a stop of about 100 pips (8,00 €) means there are more than 50 chances to get into a move.....should be enough, don`t you think so? If my account has doubled I intend to enter with 0,02 lots each trade....

Quote
I have seen your method description and I think it could work very well but would be very difficult mentally. I'd appreciate your journal to see results and mainly your emotions descriptions.
I surely will put my first positions in the early days of Januar and no problem to show journal after a time. But first before entering with full steam I will do the math.

Quote
Demo trading would be enough (forextester as well) to see what your idea may do in long term...
As I am fully convinced by Graeme`s concept - as it has the mathematical advantage on its side - I don`t trade DEMO anymore.

Feel free to PM me, I'd like to discuss it ...[/quote]
Let me do my/ our(?) homework first....

greetings
Have a nice day
  • #6,923
  • Jan 1, 2015 9:51am Jan 1, 2015 9:51am
Quoting doerpn
{quote} Maybe ? This answer doesn`t satisfy me. Did you read it? Is there something specific which wasn`t discussed in the first 260 pages? {quote} I have an account of about 500 €. Trading with microlotsize. (1pip= 0,08 €). Setting a stop of about 100 pips (8,00 €) means there are more than 50 chances to get into a move.....should be enough, don`t you think so? If my account has doubled I intend to enter with 0,02 lots each trade.... {quote} I surely will put my first positions in the early days of Januar and no problem to show journal after...
Let me do my/ our(?) homework first.... greetings[/quote]


I don't know how to quote multiple times in one post so I'll put it all together.

Maybe ? This answer doesn`t satisfy me. Did you read it? Is there something specific which wasn`t discussed in the first 260 pages?

I didn't read whole thread. I've found all info needed in first 30 pages and one pdf with the most important posts. Idea is simple and I followed Graeme's
advises.

I have an account of about 500 €. Trading with microlotsize. (1pip= 0,08 €). Setting a stop of about 100 pips (8,00 €) means there are more than 50 chances to get into a move.....should be enough, don`t you think so? If my account has doubled I intend to enter with 0,02 lots each trade....

you dont have to be afraid of overtrading then no worries


As I am fully convinced by Graeme`s concept - as it has the mathematical advantage on its side - I don`t trade DEMO anymore.

No need to use demo at all if you have experience in market.

The best of luck mate. I believe you'll succeed with your thinking....
Lose small, win BIG
  • #6,924
  • Jan 1, 2015 10:14am Jan 1, 2015 10:14am
Quoting ProsteJa
I don't know how to quote multiple times in one post so I'll put it all together.
Just put in brackets all the words you want to quote with quote at the beginning and /quote
at the end......both in brackets

Quote
No need to use demo at all if you have experience in market. The best of luck mate. I believe you'll succeed with your thinking....

I`ll do my best.....
Have a nice day
  • #6,925
  • Jan 1, 2015 1:46pm Jan 1, 2015 1:46pm
Quoting doerpn
For me it doesn't make much sense to have rasor sharp entries on 5 min TF if statistics proof that 80% of a candle is followed by a x-% retrace of the candle following....
Everyone sees things differently and if it works/makes sense to you and you can do it profitably, then what I have to say means nothing. However, just let me point out that your statement sets aside a major element of what Graeme was trying to show everyone and why he eventually spent so much time offering and teaching focal entry methods like Flying Buddha, IB's, volatile breakouts down on smaller TF. That major element is the fact that by having your entry risk tied to a smaller TF than your potential reward, you are creating a natural, mathematical leverage in your favor which, when combined with his position management strategy, offers exponential growth instead of linear growth. And...he showed us that anything he did on the higher TF was duplicated on the lower TF. Using his approach and focal interpretations of price action, it then makes the technical aspects of trading on M5 or the Monthly ON PAR with each other. The only difference is the price/time scale. I think the naturally positive leverage is worth it. Others are free to differ.
  • #6,926
  • Jan 2, 2015 8:50am Jan 2, 2015 8:50am
Quoting Pipskateer
{quote} Everyone sees things differently and if it works/makes sense to you and you can do it profitably, then what I have to say means nothing. However, just let me point out that your statement sets aside a major element of what Graeme was trying to show everyone and why he eventually spent so much time offering and teaching focal entry methods like Flying Buddha, IB's, volatile breakouts down on smaller TF. That major element is the fact that by having your entry risk tied to a smaller TF than your potential reward, you are creating a natural,...
Thanks for your competent answer. I see the tighter stopps on tf5......only I am doubting if it makes sense to send soldiers as long as a bigger TF (here daily)is moving against the main direction(monthly). Sure its to everyones liking how to come into the game. I for myself try to find areas with higher possibility for a volatile trendchange into the main direction. Once having built some legs I will also look for contra trades to be in the game in any direction the trend takes.....wish you the best.
Hope I don`t disturb this thread to much but think that a picture tells more than 1000 words.
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Have a nice day
  • #6,927
  • Jan 2, 2015 2:18pm Jan 2, 2015 2:18pm
Actually, Doerpn, now that I understand your reasoning more fully, looking to take positions in the direction of the higher trends ONLY seems like a good way to approach it for getting started. That may help reduce the startup costs and then later, when some progress has been made towards establishing a few solid legs, you could phase into trying to establish some contratrend legs. My current testing involves finding FB's and IB's on H4/D1/W1/MN and then finding all entries from M5. So, I still prefer to keep the great natural RR by taking short TF entries on longer TF setups, but as Graeme would say, it's all relative. Every trader must do as he/she sees fit. Thanks for sharing your ideas!
  • #6,928
  • Jan 2, 2015 6:51pm Jan 2, 2015 6:51pm
For me it is too hard to build counter trend legs, personally I don't have the skill set yet. In fact I'm still in the process of getting my head around it as I have only ever went in the direction of the current trend.

Nevertheless, the usdjpy seems to be moving in a way that suggests it might be fruitful to build up some short legs, just in case. However I don't have a good entry method up here at these levels so am being forced to sit on my hands.
  • #6,929
  • Jan 3, 2015 7:05am Jan 3, 2015 7:05am
Quoting Pipskateer
Actually, Doerpn, now that I understand your reasoning more fully, looking to take positions in the direction of the higher trends ONLY seems like a good way to approach it for getting started. That may help reduce the startup costs and then later, when some progress has been made towards establishing a few solid legs, you could phase into trying to establish some contratrend legs. My current testing involves finding FB's and IB's on H4/D1/W1/MN and then finding all entries from M5. So, I still prefer to keep the great natural RR by taking short...
Hi Pipskateer,
now we are in line with our thoughts.....
Have a nice weekend.
Have a nice day
  • #6,930
  • Jan 4, 2015 8:59am Jan 4, 2015 8:59am
Dear fellow traders,

How do you synchronize trading this method while working? I know you dont have to trade all day and some of the days/weeks are not tradeable with this millipede method but there are times when you should stack positions in the movement which is happening.

Can you please list your suggestions?

Thank you.
  • #6,931
  • Jan 4, 2015 12:40pm Jan 4, 2015 12:40pm
Quoting Mjolnir17
Dear fellow traders, How do you synchronize trading this method while working? I know you dont have to trade all day and some of the days/weeks are not tradeable with this millipede method but there are times when you should stack positions in the movement which is happening. Can you please list your suggestions? Thank you.
I personally trade higher TF (H1, H4, D1) when I'm not able to follow markets and small TF when I have some time (M5, M15)...
Lose small, win BIG
  • #6,932
  • Jan 4, 2015 7:53pm Jan 4, 2015 7:53pm
I've determined that the PDF files which contain the remnants of Graeme's charts are missing approximately 48 posts that had charts attached since the last PDF file in mypossession thru Graeme's last post #4646 made on July 11th, 2011. His words are still there in the posts, but he put a lot of information on the many charts he posted too. It would be a shame if those were completely lost, but it appears they may be. This amounts to about 5% of his total posts.

If anyone has or knows of any PDF files or other archive docs which may contain copies of his actual charts from his last posts #3485 (Nov 7, 2010) thru #4646 (July 11, 2011), then please let me know so we can archive them with the others for the benefit of all. Thanks!
  • #6,933
  • Jan 4, 2015 10:18pm Jan 4, 2015 10:18pm
When reading through the thread I registered this as well but thought its due to a time limited access to this provider. Sadly I have no solution to this problem beeing sure that these charts of Graeme I never saw included much much very useful stuff .....
Thanks for your efforts.
Have a nice day
  • #6,934
  • Jan 5, 2015 2:53am Jan 5, 2015 2:53am
Quoting Pipskateer
I've determined that the PDF files which contain the remnants of Graeme's charts are missing approximately 48 posts that had charts attached since the last PDF file in mypossession thru Graeme's last post #4646 made on July 11th, 2011. His words are still there in the posts, but he put a lot of information on the many charts he posted too. It would be a shame if those were completely lost, but it appears they may be. This amounts to about 5% of his total posts. If anyone has or knows of any PDF files or other archive docs which may contain copies...
Dec 21 2010 to Jan 15 2011

https://www.dropbox.com/s/2jhszcy2a9...y%203.pdf?dl=0
  • #6,935
  • Jan 5, 2015 5:27am Jan 5, 2015 5:27am
Quoting danjuma
{quote} Dec 21 2010 to Jan 15 2011 https://www.dropbox.com/s/2jhszcy2a9...y%203.pdf?dl=0
Thanks a lot, Dan
Have a nice day
  • #6,936
  • Jan 5, 2015 7:39am Jan 5, 2015 7:39am
Quoting doerpn
{quote} Thanks a lot, Dan
U r welcome
  • #6,937
  • Edited 10:50am Jan 5, 2015 10:37am | Edited 10:50am
Thanks Dan!
That was a good chunk of them.

Maybe someone else will post the rest.

EDIT: The last post Graeme made with charts was on April 29th, 2011, post #4378. With only a couple missing in between, I have archived all charts through post #4034 which is the last post in the PDF that Danjuma so graciously made available. Just a few more and we'll have a complete archive.
  • #6,938
  • Jan 6, 2015 2:49pm Jan 6, 2015 2:49pm
Ok, this is the second day of my 3X20 exercise. Has anyone actually done this for the entire 6 months as prescribed by Graeme? Would love to hear your comments as to what benefits/difficulties you experienced.
  • #6,939
  • Jan 6, 2015 2:57pm Jan 6, 2015 2:57pm
Quoting Pipskateer
Ok, this is the second day of my 3X20 exercise. Has anyone actually done this for the entire 6 months as prescribed by Graeme? Would love to hear your comments as to what benefits/difficulties you experienced.
Have you taken a look at this thread?
http://www.forexfactory.com/showthread.php?t=514127
It is by a person who followed Graema"s ideas somewhat and seemed to have raving success. The main point I took from it was the "non importance" of a perfect entry. It is definitely worth a read and should add inspiration to the fire.
Lisa
  • #6,940
  • Jan 6, 2015 3:09pm Jan 6, 2015 3:09pm
Quoting Pipskateer
Ok, this is the second day of my 3X20 exercise. Has anyone actually done this for the entire 6 months as prescribed by Graeme? Would love to hear your comments as to what benefits/difficulties you experienced.
I did something similar. Not exactly the same exercise because I have found this thread only couple of weeks ago but I had been learning how to trade with very low risk on S/R. I had been doing this exercise for around 3 years and what I learned due to this exercise? A lot.

1. how to enter with low-risk with good win rate
2. small risk is not a real risk
3. patience
4. being able to take loss very quickly and admit it
5. accept that market is right all the time and I make small bets and not nuclear physics
6. discipline
7. different thinking about risk in general
8. i learned that i don't need to monitor my positions 24/7
9. that making money can be ridiculously simple
10. that I will always break my own rules and i'm not able to follow them
11. that I will always angry when I do stupid mistake
12. I will be always doing stupid mistakes
13. that analysis sucks and who analyzes markets most probably is not trader

And much more...

It was greatest war. Me versus I. Very difficult battles....

and i still experience those same battles (ok, slightly different) when trading...

Good luck Pipskateer

You will learn how to be kicked in your ass many times but you will stand up again and again. It will make you strong.
Lose small, win BIG
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