Murrey Math Daily System

mer071898 · #**376** Nov 3, 2009 3:11pm

Quote:

Although I will test according to original rules... "if bar closes 2/3 into next level.. no trade..." Most trades taken, according to images posted here ignore that rule...

(I realize they are with smaller lots... but with risk:reward SO out of wack... I wonder if the few pips are worth the risk)

If you read post #4 again, I never said you couldn't take the trade, just use lower lots and be cautious. What I said was:

"This is not to say you can't make money on these, just be cautious and use common sense. I always use a lower Breakeven Point and Shift on these."

pipimo88 · #**377** Nov 3, 2009 4:01pm

I understand.. thank you... I have 2 years worth backtested in "real" conditions and it's.. ummm... looking gooooood

. I actually want to go back 5 years. Just to make sure it covers all types of market cycles/conditions. Will post later.

stevegee58 · #**378** Nov 3, 2009 6:54pm

It's show time, folks!

I'm still using my old list and haven't added any of Scott's new ones yet.

My broker's daily bar closes at midnight GMT in a few minutes.

InterMania · #**379** Nov 3, 2009 7:41pm

Open Trades

GBP/NZD -174 pips

Closed Trades

EUR/USD +79 pips

Trades of 4 November 2009

I trade only pairs that fulfill the main rules. So if a candle breaches one Murray Level with his real body and another Murray Level with his wick, I personally don't trade it.

kellera6 · #**380** Nov 3, 2009 8:07pm

Quote:

Originally Posted by InterMania

Open Trades

GBP/NZD -174 pips

Closed Trades

EUR/USD +79 pips

Trades of 4 November 2009

I trade only pairs that fulfill the main rules. So if a candle breaches one Murray Level with his real body and another Murray Level with his wick, I personally don't trade it.

I'm still paper trading this so forgive me but how did you guys make a profit with EURUSD lastnight?

From what I can see, it didn't make it to BE.
Also isn't AUDUSD a sell tonight or you passed because it almost breached 2 levels lastnight?
thanks

InterMania · #**381** Nov 3, 2009 8:27pm

Quote:

Originally Posted by kellera6

I'm still paper trading this so forgive me but how did you guys make a profit with EURUSD lastnight?

From what I can see, it didn't make it to BE.
Also isn't AUDUSD a sell tonight or you passed because it almost breached 2 levels lastnight?
thanks

Hi kellera6,
I traded EUR/USD on 2009.10.28 when it breached 5/8 mm level down.
I didn't trade AUD/USD because my candle opened just above the 6/8 level tonight.
Anyway even if it opened below it I wouldn't have traded it because yesterday's candle(2009.11.03) already touched the 5/8 level (as a support). But this is just a feeling, not a rule of mer071898

kellera6 · #**382** Nov 3, 2009 8:35pm

Quote:

Originally Posted by InterMania

Hi kellera6,
I traded EUR/USD on 2009.10.28 when it breached 5/8 mm level down.
I didn't trade AUD/USD because my candle opened just above the 6/8 level tonight.
Anyway even if it opened below it I wouldn't have traded it because yesterday's candle(2009.11.03) already touched the 5/8 level (as a support).

That explains your EURUSD profit on a sell. Nice one! Some people here have been closing a trade like that if the trade goes the opposite way and closes beyond the breached level where they entered. I think what you did worked because it's stuck in a range but probably would have turned into a bigger loss if it started a new trend. Interesting on your AUDUSD candle opening above the 6/8 when mine opened below it. Thanks for the scoop!

mer071898 · #**383** Nov 3, 2009 11:00pm

Sorry about the late post but here is what I've taken tonight:

AUD/USD-Short- TP-116, SL-130, BE-58, BES-29, and TS-15, 2 lots

NZD/USD-Long- TP-104, SL-140, BE-52, BES-26, and TS-13, 2 lots

CAD/JPY-Long- TP-46, SL-110, BE-23, BES-12, and TS-6, 4 lots

CHF/JPY-Short- TP-46, SL-114, BE-23, BES-12, and TS-6, 2 lots

USD/CHF-Long- TP-110, SL-136, BE-55, BES-28, and TS-14, 4 lots

USD/CAD-Short- TP-44, SL-204, BE-22, BES-11, and TS-6, 8 lots

EUR/CAD-Short- TP-68, SL-182, BE-34, BES-17, and TS-9, 2 lots

GBP/CAD-Short- TP-156, SL-340, BE-78, BES-39, and TS-20, 8 lots

AUD/CAD-Short- TP-100, SL-146, BE-50, BES-25, and TS-13, 4 lots

EUR/NZD-Short- TP-124, SL-370, BE-62, BES-31, and TS-16, 8 lots

AUD/NZD-Short- TP-58, SL-190, BE-29, BES-15, and TS-8, 8 lots

***UPDATE***

My AUD/USD trade has already closed out @ BES with 29 pips for a profit of $580.00 with 2 lots.

My CHF/JPY trade has already closed out with 18 pips (BES-12 pips + TS-6 pips x1) for a profit of $399.33 with 2 lots.

I still have 9 active trades from today plus 1 from still going from yesterday (GBP/NZD).

pipimo88 · #**384** Nov 3, 2009 11:18pm

I thought I'd join in with the pip festivities. Here are my live trades (although using only micros until my backtest is done). My entries are all using limit orders. Daily bars have enough of a range to retrace a bit and trigger. Make for lower risk and greater gain. Just my way of entering... same concept though. 7 orders. 4 triggered so far and all 4 positive.

AUD/USD - Long (.9012) - SL (-122) TP (138)
(This pair has been riding the 50% Fib for 4 days now.. tried to break yesterday and failed miserably... On my broker I have a close above MM level + Fib support... hence my long)

NZD/USD - Long (.7190) - SL (-125) TP (130)

EUR/JPY - Long (132.75) - SL (-160) TP (160)

EUR/AUD - Short (1.6345) - SL (-145) TP (105)

Pending entries:
GBP/USD - Long
EUR/GBP - Short
AUD/CAD - Short

mer071898 · #**385** Nov 3, 2009 11:19pm

I am a little miffed why my AUD/NZD didn't close out as the price hit the target Murrey Level and even went past a little. Same thing on AUD/CAD, it should have moved to BES of 25 pips, but didn't. Anyone else have this issue?

tazmaan · #**386** Nov 4, 2009 1:15am

Quite confusing to try to trade this method along with you.
There are multiple pairs you have listed such as nzdusd, eurnzd, usdcad and some others that are completely opposite of what I see on my onecorp demo with freshly loaded template.
That's a pretty frustrating aspect of this, how even on the same broker we can't seem to get the MM levels showing the same.
Wish there was a way around this issue.

fewhills · #**387** Nov 4, 2009 1:34am

Quote:

Originally Posted by mer071898

I am a little miffed why my AUD/NZD didn't close out as the price hit the target Murrey Level and even went past a little. Same thing on AUD/CAD, it should have moved to BES of 25 pips, but didn't. Anyone else have this issue?

Maybe the spread was too large at that moment.

fed · #**388** Nov 4, 2009 1:47am

Quote:

Originally Posted by mer071898

I am a little miffed why my AUD/NZD didn't close out as the price hit the target Murrey Level and even went past a little. Same thing on AUD/CAD, it should have moved to BES of 25 pips, but didn't. Anyone else have this issue?

Those pairs usually have high spreads about 9-10 pips that is why I don't trade them.

fed · #**389** Nov 4, 2009 1:48am

Quote:

Originally Posted by mer071898

Sorry about the late post but here is what I've taken tonight:

AUD/USD-Short- TP-116, SL-130, BE-58, BES-29, and TS-15, 2 lots

did you meant aud/usd long?

mer071898 · #**390** Nov 4, 2009 2:59am

***UPDATE***

My USD/CAD trade has closed with 29 pips (BES-11 pips + TS-6 pips x3) for a profit of $2180.72 with 8 lots.

My CAD/JPY trade has closed out @ Target with 47 pips for a profit of $2063.88 with 4 lots.

9 trades are still active.

Quote:

Quite confusing to try to trade this method along with you.
There are multiple pairs you have listed such as nzdusd, eurnzd, usdcad and some others that are completely opposite of what I see on my onecorp demo with freshly loaded template.
That's a pretty frustrating aspect of this, how even on the same broker we can't seem to get the MM levels showing the same.
Wish there was a way around this issue.

tazmaan, I've mentioned it numerous times, you're confused because you are using a different broker than I am and you are receiving different data. It gets frustrating trying to get people to understand that every broker's data is different! I can only give you the trades I take that I see on my broker. That's why I suggest you use the same demo as I do so you will see what I see. I can't make it any more plain and simple as that, sorry.

Quote:

Those pairs usually have high spreads about 9-10 pips that is why I don't trade them.

fed and fewhills, The Collective FX spreads on AUD/NZD and AUD/CAD are never more than 5-7 pips on my platform, even during low liquidity (because I've checked). Even if it was a big spread increase, the AUD/NZD still should have moved the stop to BES at least.

Quote:

did you meant aud/usd long?

No, it was a short, look at the stats page. I took a short trade because my candle closed below the Murrey Level.