Nobody knows Vee, you can only participate in both directions, and eventually the market will reveal its hand. Cheers, Cam

Building an equity millipede

Impressive ! your efforts paid off, no doubt. Poster child for the method Graeme presented throughout the thread :-) Cheers, Cam

Building an equity millipede

Vee is laughing all the way to the bank ;-) Well done, Cam

Building an equity millipede

Hi Kayn, Things are really simple: try to trade when there is activity in the market, not when the price is not moving much. Also, when you see those long candles, you sort of have to be positioned in the market with your probes before that price ...

Building an equity millipede

Hi Starry, Actually... sometimes I see elephants on the charts in the way candles shape up. I place trades when I see elephants, and sometimes my trades work, that leads me to believe that when elephants show up on my charts it is a good setup. I ...

Building an equity millipede

Hi, Well I am talking about real life, my own experiences rather than a theoretical assumption. Cam

Building an equity millipede

Hi Vee, That is a good point you are making, I am in favour of razor sharp entries, some of my reasoning: As a human being, do I feel better if 70% of my entries end up as wins or breakeven, or if instead only 20% of my entries end up as wins or ...

Building an equity millipede

Hi Calculus, You will have to find your own reasoning for not being affected when the market is going against your will, however the way to make 1 million in the markets, is to have 5 million profit, and only 4 million losses. In the grand scheme of ...

Building an equity millipede

Hi Calculus, I usually have no interest in closing positions opened in the same day, so I would leave both long and short running, the stronger will survive. :-) Cheers, Cam

Building an equity millipede

TS, Actually, you don't have to work against your temperament, trade short term as you feel, but keep some stats that will show you the way: To give you some idea, I use a simple Excel sheet, and besides the standard entry, exit, profit etc ... I ...

Building an equity millipede

Hi TS, When it comes to diversification there is no absolute right or wrong in my opinion, there is only what feels right to you. Please, for your own sake, stop trying to find definitions in other people's trading, what you need to do, is to trade ...

Building an equity millipede

Hi Vee, I have actually closed few of my short positions on GBPAUD, I do that when Weekly/Daily charts show consolidation and when there is some uncertainty about the direction. The way I reached the conclusion was like this: one evening, I was ...

Building an equity millipede

Hi Nizdraw, Taking by what you are writing, that you are still working on "getting your millipede on", I wonder ... how can you give advice that "entries don't really matter in this method" and "please don't get too hung up on how razor sharp an ...

Building an equity millipede

Hi, A lot has been written about the 20x3 exercise already, here are my thoughts: The thing is, the 20x3 exercise tests much more than your ability to see setups on the chart: if you keep to it, it develops discipline, infinite patience and ...

Building an equity millipede

Hi Vee, I can trade longs and shorts in the same account, but if I were to live in US, I would keep different accounts for longs/shorts. About mentality, and keeping large legs and floating profits, you have to be happy with your current life and ...

Building an equity millipede

Hi Vee, You have quite a different vision regarding risk management compared to the majority and that might turn out to be revolutionary and pay off, it might be your edge. For myself, floating profit is something that I do not think about, in the ...

Building an equity millipede

Hi Vee, Thank you, I thought your millipede was very impressive as well. All my open positions are worth 2.8 times the account balance in this moment; my stats are very simple, mainly related to entries, how many wins, losses, break-even, and I keep ...

Building an equity millipede

Thank you Vee, I haven't left, just that there is not much I can add to the on-going discussions, or to what Graeme taught us. EURUSD Weekly chart attached... for me it's up, there was a correction, positively ended with that bullish run last week ...

Building an equity millipede

Hi tokyotrader, Nobody knows what the market will do next, and there is a tendency for people having an open short position to see more arguments of why the market would go lower than higher. Hopefully the risk you are taking on is part of a plan ...

Building an equity millipede

My understanding of this is: if you lost $600 whilst establishing a set of legs (not $600 in total in the account ever, maybe you have a total of $5000 loss in the account) ... when you diversify which means closing some of your positions ... don't ...

Building an equity millipede