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ADX Engulfing Millipede

  • #41
  • Dec 1, 2014 3:44am Dec 1, 2014 3:44am
Quoting mforex08
{quote} 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.
Hi - I can't at the moment - but will as soon as I get a chance.
  • #42
  • Dec 1, 2014 3:46am Dec 1, 2014 3:46am
Quoting Bendz
Hi hollowhead, I'm using your template. It's working fine. ADX is Ok. can u explain about supply and demand zones? {quote} Bendz
Supply and demand zones are just as the name implies. I use them as areas of interest particulalry on the weekly and monthly charts. They show zones where price has reversed before and bulls have taken over from bears or bears have taken over from bulls. For me they are just areas to look at more closely - either to close out some profitable legs, or look to start stacking from.
  • #43
  • Dec 1, 2014 3:49am Dec 1, 2014 3:49am
Quoting imrich
{quote} 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!
There are indicators in zip file in the first post that will do the job for you.

steve
  • #44
  • Dec 1, 2014 4:03am Dec 1, 2014 4:03am
Quoting hollowhead
{quote} Supply and demand zones are just as the name implies. I use them as areas of interest particulalry on the weekly and monthly charts. They show zones where price has reversed before and bulls have taken over from bears or bears have taken over from bulls. For me they are just areas to look at more closely - either to close out some profitable legs, or look to start stacking from.
Hi hollowhead,

Thanks. Now I've got it.

Bendz
  • #45
  • Dec 7, 2014 6:26am Dec 7, 2014 6:26am
Quoting mforex08
{quote} 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.
Hi - finally got round to it - sorry for the delay. Below shows some AJ entries that are still alive. I've marked entry areas - can't remember the exact signals, but when using ADX I'm generally looking for compression where the lines are together, and then a stong blue and white line pointing up with and engulfing bar. Hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy-h4-071214.png Size: 95 KB
  • #46
  • Dec 8, 2014 8:41pm Dec 8, 2014 8:41pm
Quoting hollowhead
{quote} Hi - finally got round to it - sorry for the delay. Below shows some AJ entries that are still alive. I've marked entry areas - can't remember the exact signals, but when using ADX I'm generally looking for compression where the lines are together, and then a stong blue and white line pointing up with and engulfing bar. Hope it helps. {image}
Thanks Hollowhead. Here is the issue I have been having trading the engulfing: the stop size, which could be from 50 to 100 pips on the 1 hour and 4 hours charts, as I always risk the same amount on all trade and adjust lot size based on the size of the engulfing bar. Also at what point do you move your stops to BE?

Hope you had a nice vacation.
  • #47
  • Dec 8, 2014 11:35pm Dec 8, 2014 11:35pm
Quoting mforex08
{quote} Thanks Hollowhead. Here is the issue I have been having trading the engulfing: the stop size, which could be from 50 to 100 pips on the 1 hour and 4 hours charts, as I always risk the same amount on all trade and adjust lot size based on the size of the engulfing bar. Also at what point do you move your stops to BE? Hope you had a nice vacation.
You could tring using the same lot size for every trade - say 0.1 lots for every £10k (I'm British). If the engulfingis huge, making the risk too big for my appetite, I might set a pending at a 50% pullback (big engulfings often pull back 50% before moving on). I tend to move to BE one or two candles later or when the R:R has reached about 1:1. If I took the trade in the morning then I will normally put it to BE when I go to sleep if I can.
  • #48
  • Dec 9, 2014 11:15am Dec 9, 2014 11:15am
Quoting hollowhead
{quote} You could tring using the same lot size for every trade - say 0.1 lots for every £10k (I'm British). If the engulfingis huge, making the risk too big for my appetite, I might set a pending at a 50% pullback (big engulfings often pull back 50% before moving on). I tend to move to BE one or two candles later or when the R:R has reached about 1:1. If I took the trade in the morning then I will normally put it to BE when I go to sleep if I can.
Here is something I have been tinkering with but will require more entries for me to really have a say on. I close half the position every time I reach 2X risk or greater but don't move the SL to BE, the reasoning behind this is because many times moving the SL to BE will stop you out and the position continues in the direction but never hitting your initial SL.

I hope you keep posting here as you build your positions.
  • #49
  • Dec 9, 2014 11:38am Dec 9, 2014 11:38am
Quoting mforex08
{quote} Here is something I have been tinkering with but will require more entries for me to really have a say on. I close half the position every time I reach 2X risk or greater but don't move the SL to BE, the reasoning behind this is because many times moving the SL to BE will stop you out and the position continues in the direction but never hitting your initial SL. I hope you keep posting here as you build your positions.
Most testing i have done myself, and also other peoples testing i have seen for most systems show that it is most profitable to not move the SL so you are probably correct about that.
But most tests/systems also show that it is better to add to winning positions so it is probably not a good idea to take off part of the positions like you are talking about if i understand you correct..?
The tests i am talking about is not for this system but for trend trading systems (and some other) in general. I have not tested this system.
But some systems / markets / marketconditions show different result so nothing is set in stone. Only testing will tell for sure...


Arctic4x
  • #50
  • Dec 9, 2014 1:36pm Dec 9, 2014 1:36pm
Quoting mforex08
{quote} Here is something I have been tinkering with but will require more entries for me to really have a say on. I close half the position every time I reach 2X risk or greater but don't move the SL to BE, the reasoning behind this is because many times moving the SL to BE will stop you out and the position continues in the direction but never hitting your initial SL. I hope you keep posting here as you build your positions.
Graeme (AKA PIPeasy) mentions an alternative is to enter two trades. Close one at 1 R:R and leave the other with the original SL. The DD is greater (depending on how good your entries are). If you have good entries your equity will increase slightly. However, only having a couple survive, that would have been taken out at BE, probably more than makes up for it. Arctic4x is correct in that it is the stakcing positions that produces the profit. Getting past worrying about small loses and BEs dying is the biggest hurdle, then settling on when to close profitable trades is the second.
  • #51
  • Jan 8, 2015 10:03am Jan 8, 2015 10:03am
Quoting hollowhead
{quote} Supply and demand zones are just as the name implies. I use them as areas of interest particulalry on the weekly and monthly charts. They show zones where price has reversed before and bulls have taken over from bears or bears have taken over from bulls. For me they are just areas to look at more closely - either to close out some profitable legs, or look to start stacking from.
Hello Steve,

I'm a BIG fan of Graeme's Millipede and I'm currently working on my own version, now about 3 years later than I should have started. Anyway... I was looking to see if you did any stacking of your positions and I see you mention it here. I feel this is a vital element, both in terms of short term profits and in positive psyche-value for the trader. Can you give any details about how you go about it with your particular trading style? I'm now on my second restudy of Graeme's posts where he discusses stacking on the Flying Buddhas, but I want to get some alternative ideas on how to go about it.

Also, on your opening post, you have a bold heading called "NB" where you talk about supply/demand zones. But what is NB? I'm sure it's going to be something painfully obvious, but I can't figure out what.

Thanks for sharing your path here!
  • #52
  • Jan 8, 2015 11:53pm Jan 8, 2015 11:53pm
Quoting Pipskateer
{quote} Hello Steve, I'm a BIG fan of Graeme's Millipede and I'm currently working on my own version, now about 3 years later than I should have started. Anyway... I was looking to see if you did any stacking of your positions and I see you mention it here. I feel this is a vital element, both in terms of short term profits and in positive psyche-value for the trader. Can you give any details about how you go about it with your particular trading style? I'm now on my second restudy of Graeme's posts where he discusses stacking on the Flying Buddhas,...
Hi Papskateer - I'm not sure there's any real detail to give. It's simple really - I see a signal, enter a trade move it to BE and leave it. I subscribe to the importance Graeme placed on participation. I can't win anything if I'm not in the market. It really is a simple as 'Find or develop a method that gives you a half decent chance of getting to break even. Take the trade wihtout question, get it to BE, and then forget about it.

Best of luck

Steve

Oh - NB is a latin abbreviation. It means Nota bene, translated as "Note Well' or "don't miss this bit"
  • #53
  • Edited 8:55am Jan 9, 2015 8:12am | Edited 8:55am
Quoting hollowhead
{quote} Oh - NB is a latin abbreviation. It means Nota bene, translated as "Note Well' or "don't miss this bit"
Ahh...got it, thanks!

On your primary signal entries, I understand how you do those. I was referring to the stacking part. I probably should have asked specifically about "aggressive" stacking. Do you do anything differently for stacking than your primary entries? Graeme said that his friend "Joe" would stack his positions aggressively, I think on H1 after an H4 flying buddha signal. Do you do anything like that or do you prefer to keep them spaced further apart? I think you mentioned 100-200 pips or so, but I wasn't sure that was what you called "stacking."
Thanks!

EDIT: Sorry, I guess that 100-200 pip spread between "stacks" was something I transposed from another thread. So, I'm still interested in knowing how you go about spacing your stacked positions.
  • #54
  • Jan 9, 2015 12:41pm Jan 9, 2015 12:41pm
Quoting Pipskateer
{quote} Ahh...got it, thanks! On your primary signal entries, I understand how you do those. I was referring to the stacking part. I probably should have asked specifically about "aggressive" stacking. Do you do anything differently for stacking than your primary entries? Graeme said that his friend "Joe" would stack his positions aggressively, I think on H1 after an H4 flying buddha signal. Do you do anything like that or do you prefer to keep them spaced further apart? I think you mentioned 100-200 pips or so, but I wasn't sure that was what you...
Hi Pipskateer
I have several entry methods which include ADX, Fractal breaks, S/R break and retest, Pin bars, Engulfing bars, momentum, volume spikes.

While I agree with Graeme that we need to find our one thing, I like the variety and possibilites of having a few tools in my box - I will pretty much take any trade I see if I think it has a chance of getting to break even. I don't think about spacing because that would limit my possibilities. If I see strong momentum I might try and catch several entries on 1 bar and move to BE really quick other times I can see that price is consolidating and will forget about that pair for a while. I subscribe to 'the market will decide' - I just want positions and don't care much about where they are or how I got them (I'm exaggerating a little.... but only a little!). Sometimes thinking too much hinders the possibilities.
  • #55
  • Edited 2:33pm Jan 9, 2015 2:12pm | Edited 2:33pm
Quoting hollowhead
{quote} Hi Pipskateer I have several entry methods which include ADX, Fractal breaks, S/R break and retest, Pin bars, Engulfing bars, momentum, volume spikes. While I agree with Graeme that we need to find our one thing, I like the variety and possibilites of having a few tools in my box - I will pretty much take any trade I see if I think it has a chance of getting to break even. I don't think about spacing because that would limit my possibilities. If I see strong momentum I might try and catch several entries on 1 bar and move to BE really quick...
Great, thanks for the reply, Steve. I'm looking to develop a defined procedure for adding to winning positions when momentum is present. (Similar to Graviton's approach here: http://www.forexfactory.com/showthre...35#post7350535 ) This would be part of the leg establishment process. I would leverage signals from higher TF setups, but look for multiple "stacked" entries placed from a lower TF. I see this as a way to maximize what Graeme called those "golden opportunities" that the market sometimes offers. Was just wondering if you did anything along those lines. Thanks again, will keep watching your progress. Keep it up!
  • #56
  • Mar 11, 2015 7:03am Mar 11, 2015 7:03am
Hi mate.

Good thread.I was looking for that are there any thread about millipedes and i found this.Common sense.Not good for trading decisions but good for anything beside from it.

I wish you the succes
  • #57
  • Feb 11, 2016 10:07am Feb 11, 2016 10:07am
So, I've been round the houses lately, tried some new things, explored some others. In the end, I keep coming back to ADX and Engulfing Bars... The MM has changed, there are a few tweaks and adaptations I've picked up from others, but in essence - I'm back to ADX Engulfings. I should really just stick with what I know works for me and settle down...
  • #58
  • Feb 13, 2016 12:26pm Feb 13, 2016 12:26pm
Quoting hollowhead
So, I've been round the houses lately, tried some new things, explored some others. In the end, I keep coming back to ADX and Engulfing Bars... The MM has changed, there are a few tweaks and adaptations I've picked up from others, but in essence - I'm back to ADX Engulfings. I should really just stick with what I know works for me and settle down...

I am just after reading this and Fez thread and jumping now on to the Graeme's one. Nice job lads! If you would let us know what tweaks you have done would appreciate that too.
The only thing that will make us successful is if we can control ourselves!
  • #59
  • Mar 24, 2016 11:37am Mar 24, 2016 11:37am
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  • #60
  • Last Post: Apr 15, 2017 9:13am Apr 15, 2017 9:13am
This is admirable effort.
I am doing on manual basis the millipedes. It needs lot of participation, really lot of participation.
I have just come across this, if this works.

I would still see if I sustain through the volatility.
Thank you so much for nice posts.
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