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Building an equity millipede

  • #7,061
  • Aug 6, 2015 10:48pm Aug 6, 2015 10:48pm
Quoting artmat
Hello. Anyone keeping this thread updated? I am currently looking for long tem sell NZD, sell JPY, sell AUD?, buy GBP, buy USD... Arne
That's the way. Find nice regular entries and keep your lot size down.

I watch my margin verses my balance. Not verses equity like MT4 is set for. OTY

I also only run 2 or 3 trades at a time, when 1st can be set to BE+ then ok to take another trade. This gives me my trade spacing and only 1% of balance at risk max.

cheers scalpz
Target 2 : Stoploss in the green
  • #7,062
  • Aug 10, 2015 1:09pm Aug 10, 2015 1:09pm
I've read all of what Pipeasy has said. Perhaps someone could help me. At the start of the thread he is saying that finding the direction of the weekly/monthly trend is the most important thing. You trade in this direction. But after , I think, 11 pages or so, he is saying that he both buys and sells?? So why would the main trend direction be important? I fully understand why a method like this will make profits of enormous dimensions. But could someone throw some light on the buy/sell main trend direction please? Thank you in advance.
  • #7,063
  • Aug 10, 2015 5:28pm Aug 10, 2015 5:28pm
Come on marypippins, I'm interested to know what you
think of my question.
  • #7,064
  • Aug 10, 2015 5:41pm Aug 10, 2015 5:41pm
Anyone? please say something. I'm as lost as most people in this fx nonsense.
  • #7,065
  • Aug 10, 2015 6:23pm Aug 10, 2015 6:23pm
No one want to talk about " main trend is the direction you trade in" but hey I trade in both directions, to catch those trend changes early? no? ok then
  • #7,066
  • Aug 10, 2015 7:14pm Aug 10, 2015 7:14pm
Since I am in the US I cannot hedge so I never paid too much attention to that part of the process. All I can tell you is my interpretation of the general theme of the thread and that is to build multiple positions in the durection of the trend and ride that as long as possible...weeks..months even years. Where I believe this thread got bogged down was in entry methods. Pipeasy would say ad naseum not to dwell on the entry but its how you handle the position once you are in. Did this stop question after after entry question..no.
  • #7,067
  • Aug 10, 2015 8:07pm Aug 10, 2015 8:07pm
I have been down that hedging road - not good. So US peps aren't missing anything there, maybe missing out on the 1st in 1st out rule though.

As far as trading with the weekly or monthly trend - may be safer that way, but it has to change at some stage. Most likely as soon as you have a nice set of trades loaded and running to reasonable pnl

I prefer to do my assessment on fundies to indicate the "future direction" and then target opportunities to load trades in that direction.
Pigheadedness also helps to keep loading trades at regular intervals once the 1st few are + pnl. The more + pnl, the easier it is to be pigheaded and just load them in.
Also catching a good trend really helps, see UJ from Oct2014 or EU from Sep2014.
Although my EU trades are now gone/banked cause I let myself get suckered in to closing way too early - like March and May2015.

Currently building AU shorts. Problem is that they are interest negative, GA longs though may be interest +ve.

Some of CJ's threads at SHF make for interesting reading on getting in at the extremes / turning points.
Another easy entry is M5 charts with a trend/trade line applied just (say an hour) before LO or NY open and take the break if its your direction.

cheers scalpz
Target 2 : Stoploss in the green
  • #7,068
  • Edited 11:00pm Aug 10, 2015 10:04pm | Edited 11:00pm
Quoting TheGreatMilenko
I've read all of what Pipeasy has said. Perhaps someone could help me. At the start of the thread he is saying that finding the direction of the weekly/monthly trend is the most important thing. You trade in this direction. But after , I think, 11 pages or so, he is saying that he both buys and sells?? So why would the main trend direction be important? I fully understand why a method like this will make profits of enormous dimensions. But could someone throw some light on the buy/sell main trend direction please? Thank you in advance.
Hey - not 11 pages, its on the 1st page !

I hate it when people say this - but...
Maybe read 1st page again, especially post 18. Explains it pretty good.

I found it interesting to re-read what PipEasy posted a long time ago (just over 5 years).

cheers scalpz
Target 2 : Stoploss in the green
  • #7,069
  • Aug 11, 2015 4:02am Aug 11, 2015 4:02am
AS i understood this, when u trade a leg in major downtrend, there usually comes a huge correction also, that is when you start a opposite trade while keeping your original, and when correction/retracement is over you take profit off correction, and continue to profit on original trend.

Arne
  • #7,070
  • Aug 11, 2015 4:47am Aug 11, 2015 4:47am
Quoting scalpz
{quote} Hey - not 11 pages, its on the 1st page ! I hate it when people say this - but... Maybe read 1st page again, especially post 18. Explains it pretty good. I found it interesting to re-read what PipEasy posted a long time ago (just over 5 years). cheers scalpz
Thanks everyone for taking time to answer me.You're right about the first page sscalpz. He also says on the first page that entry is not important then goes on to tell everyone to practice their entries!! Any thoughts? thank you
  • #7,071
  • Aug 11, 2015 5:15am Aug 11, 2015 5:15am
Entry is not important if you open a trade in correct trend direction on a major scale, but for equity and safety of your capital it is best to have a good entry to be able to move stop loss to BE and be able to start a new trade/leg.

Imagine yourself open a trade in a trend direction, but first thing market dose is retrace/correct before continuing in trend direction. Your trade could be negative for days, weeks, months before going positive, or even get margin call if you have low equity.

So best to start safe trade in trend direction and move SL to BE. then you can have safe risk free trading.

Arne
  • #7,072
  • Aug 11, 2015 5:18am Aug 11, 2015 5:18am
Quoting artmat
Entry is not important if you open a trade in correct trend direction on a major scale, but for equity and safety of your capital it is best to have a good entry to be able to move stop loss to BE and be able to start a new trade/leg. Imagine yourself open a trade in a trend direction, but first thing market dose is retrace/correct before continuing in trend direction. Your trade could be negative for days, weeks, months before going positive, or even get margin call if you have low equity. So best to start safe trade in trend direction and move...
Thank you. I sort of thought that anyway. Are you having any success with this method by the way?
  • #7,073
  • Aug 11, 2015 5:39am Aug 11, 2015 5:39am
I see great potential, and I am trying. Have made some nice entries but closed them to early to increase balance, then blew the acc Now im on demo and looking to improve entries and keeping them for this type of trading. Im still very new to trading but im sure I will succeed.

Many pairs are currently in range or at great resistance/support as i see them, so its not easy

Arne
  • #7,074
  • Aug 11, 2015 7:03am Aug 11, 2015 7:03am
Quoting artmat
I see great potential, and I am trying. Have made some nice entries but closed them to early to increase balance, then blew the acc Now im on demo and looking to improve entries and keeping them for this type of trading. Im still very new to trading but im sure I will succeed. Many pairs are currently in range or at great resistance/support as i see them, so its not easy Arne
Thanks for your reply. The concept behind this method is very similar to DIBS, I can see why both would make a lot of money . Best of luck with your trading.
  • #7,075
  • Aug 22, 2015 6:36am Aug 22, 2015 6:36am
Quoting scalpz
{quote}I had 6 groups of 5 or 6 trades each short on EU from mid October. Was feeling the risk of a retrace so 1 from each group had the sl shifted down to the latest resistance. Of course retrace/bounce came in March and "banked me my money". Diversified again in April with more positions from each group.......
Hi Scalpz,

How do you define your groups? Do you use specific criteria? Just interested....

You also mentioned that you use FXCM. I'm currently in the process of choosing a broker and would welcome your thoughts on them?


Thanks in advance
Chorlton
  • #7,076
  • Aug 22, 2015 12:08pm Aug 22, 2015 12:08pm
Hi Graeme,

All I can say is WOW! THANK YOU for giving your time and helping all the Traders out there! Its been 5 years 1 month and 13 days since your first post (July 10, 2010)! Happy 5 years anniversary to your Equity Millipede thread!!!

I have been reading and absorbing yours and everybody's post for the last 2 weeks! I've also already started the 20pip game challenge. I have to say my success rate is 20% wins so far...I have a lot of work in improving! Already 2 weeks into this game challenge, I have a strategy that I am testing that seems promising!!!

For all the Traders out there: Graeme have spent a lot of time giving all his ideas. One of his main recommendation was for you to do the 20 pip game challenge. You may not know how it will help your trading...but his words are gold. He used it himself personally to be the Trader he is today. Thats how he became awesome!

I am testing strategies out now with the Equity Millipede idea. I do hope one of them will lead me to great success! I do have strong hopes that my latest strategy will win. I will share with everyone once I get more results, with statistics.

Thank you Graeme and everyone else that have contributed into this thread! You have all opened my mind to the great power of successful trading.
Truth is out there
  • #7,077
  • Aug 23, 2015 11:22pm Aug 23, 2015 11:22pm
Quoting Chorlton
{quote} Hi Scalpz, How do you define your groups? Do you use specific criteria? Just interested.... You also mentioned that you use FXCM. I'm currently in the process of choosing a broker and would welcome your thoughts on them? Thanks in advance Chorlton

I had paused in placing my trades after 5 or 6 were placed, this formed the groups visually on the chart.
I started placing more trades when I noticed a bit more momentum in price, thus making the next group.


From memory I had 5 or 7 groups in my EU trades.


If I had maintained placing my trades at regular intervals, would have worked out better, but quite a load on margin being used and maybe account balance.


cheers scalpz
Target 2 : Stoploss in the green
  • #7,078
  • Aug 27, 2015 6:52pm Aug 27, 2015 6:52pm
Quoting scalpz
...
Also catching a good trend really helps, see UJ from Oct2014 or EU from Sep2014. Although my EU trades are now gone/banked cause I let myself get suckered in to closing way too early - like March and May2015. Currently building AU shorts. Problem is that they are interest negative, GA longs though may be interest +ve. Some of CJ's threads at SHF make for interesting reading on getting in at the extremes / turning points. Another easy entry is M5 charts with a trend/trade line applied just (say an hour) before LO or NY open and take the break...
Missed a really nice run from GU. Too busy reading AUD charts and fundie reports.
3 days for 1000 odd pips of my stacked trades would have kept me happy as.
TFL now from here it could be catch a knife material. Now there's a thought, is it likely to bounce heaps or only a little
This is were I am not keen to trade both ways. Not that I have any GU shorts though.

Hey sebas1987 put a post up of how you read things so far.

cheers scalpz
Target 2 : Stoploss in the green
  • #7,079
  • Aug 29, 2015 6:49am Aug 29, 2015 6:49am
This thread is gold, I am looking for someone to talk about this thread information. IF there is someone who understands that this thread is pure gold and is willing to speak about trades/legs/etc msg me please.


regards,
  • #7,080
  • Aug 29, 2015 12:33pm Aug 29, 2015 12:33pm
Quoting dreamt1me
This thread is gold, I am looking for someone to talk about this thread information. IF there is someone who understands that this thread is pure gold and is willing to speak about trades/legs/etc msg me please. regards,
I monitor this thread.
If you are good at something, never do it for free--Joker
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