Trading using Murray Maths and Price Action

cool mate....

Can you explain how you entry is?
1.4648 or 1.4648 +++ how many pips.

Hi,
i closed my long at 1.4710.....which makes it 62 pips...i am sorry but its difficult for me to keep posting all my entries and exits over here.....

What I like to know is how do I enter the trade.
Do I enter on the 4/8 mm or 4/8mm + 5 pips.
Can you give an example how to enter and what TF is the best to use for GBP/USD with this methode of trading.

i had demonstrated this live yesterday...i use 1H for GU....what i do is wait for the price to hit a support or resistance...then i wait for around 10 mins to confirm whether the support or resistance is broken or not.....if the S or R is broken, then i wait for 10 mins to confirm the break and then i enter accordingly....so it is not at S or R or + 5 pips that the entry is done.....

i enter when the break or hold of a S or R is confirmed...its all abt developing a feel for the market...

Hi Guys,

Just closed EJ with +70 pips. Good trading guys.

-myfx-

WOW! there are very good down movements in eurusd though most eur news positive.Movement can halt at this bottom of 1.3474 below 3/8mm top trading line not strong enough to do so. Immediate relatively strong sr is H4 6/8MM, pivot major reverse at 1.3423.
At about positive US news PA starts retracement or just news reaction and now trying to break H1 6/8MM pivot major reverse at 1.3550 , I see it breaks but if fails to stay above can again easily come down to previous SR levels and if stays up will get support here to go up.again this the area of H4 7/8MM weak,stall & reverse ,if not cross fast then can move up & down in this area again.

Just watching PA in the view of MM.
fontu

As spected PA only get support from some strong SR , next big 1.3441 or 1.3426 can be minimum more safe below 1.3360 & UP,may further go 1.3184 or even 1.2939 if break that line
fontu

Went short on G/Chf at 1.6600. We have some strong R hope this goes down.

Hi Guys,

No posts today hah? any good trading?

sorry guys....i have really got quite busy with my trading nowadays...hence am unable to post....hope i will find time soon....but u guys can keep posting and i will answer as many queries as i can....

Hi Karthik,

Thank you man. I am doing good with my demo trading and going to apply the same thing in real account. By the way, my real account is with Oanda, so I may have to refer my entry and exit with MT4.

-myfx-

ok guys....still waiting for a direction....hope u guys made good money on the way down....

Thanks u got some time , yes good enough .Am able to take both up & down in EU & now close all ,spikes ..
fontu

GJ and GC seem to have found good supports at 142.2 and 1.6420 resp. so going long whenever price comes near support...scalping....

as expected GJ making a good upward move from support at 142.2....i expect the upmove to continue...

Just closed my G/C trade at 1.6395 & made over 200 pips. Now i just got to take care i don't lose it all back on the next trades. lol

well done ,congratulation! I check it now there was good movements too.
I got 240pips in eurusd during news time, but was simply luck & that I was brave enough & able to entry-exit fast and about 100 pips by scalping this evening taking 2-20 pips at a time even sometimes 1 pip without any failure so far & all from M1,M5 tf with MM indicator.

if try any more most likely may loose everything again. so not any more today.
fontu

that was a nice move down to 38.2 of the last move up for GJ....after hitting 38.2 , i can see that the price is moving upward and will continue upwards...i also see EJ more bullish than GJ and EU also abt to burst out....i could be wrong...anyway time will tell...and i am a scalper....so it really does not matter to me which way it goes....

Hi All,I started out trading blindly like many other traders. I did not know what to buy, what to sell. All i understood was to buy pairs which went up and sell pairs which went down. This worked for sometime but later on the law of averages caught up with me and i started losing. Then slowly i started learning system trading. I went around forums and other parts of the net and tried to find trading systems which worked for me and which made money for me.
I found many systems, some which worked, some which did not. But there was something wrong in all the systems that i tried out. They refused to work under some circumstances. There was no system which said that if this happens, price would rise or if this happens, price would fall.There was something in there which led to whipsaws, wrong calls etc. which made me lose money and also which made implementation of the system difficult as well as subjective.
Also, many trading systems looked very complicated to me. There are systems which ask to use 10 ema, 15 ema, 39 ema, wait till one crosses another, wait till red becomes blue and black becomes yellow or whatever. But does a country's economy (on which currency is based on) depend on indicators? Do they depend on a indicator turning blue from red? Does Bernanke say 'ok 10 ema has crossed 15 ema, lets make a statement to make it cross back again'. No...So things cannot be so complex or cumbersome. There must be something straightforward.
And that straightforward stuff is price action. Everything that happens in the market is based on price action. Indicators are based on price action. All the indicators, colors etc. are merely a reflection of the price action.
And price action is a reflection of history. It is based on history. Why do trading systems stop working under some situations? Its because of the price action. Once we understand price action and how it relates to history and how to interpret all these, then we should be able to make money consistently. Indicators tell you what has happened. No indicator will tell you what is going to happen. Indicators tell you that when lot of people buy something and the price goes up, it tells you that it is overbought. It does not tell you why it is overbought nor does it tell you where and when it will stop.
If EURJPY goes from 165 to 170 without any rectracement, its obvious that its overbought. You dont need an indicator to tell you that. What concerns you at that point is whether the rise will stop, if yes, when and where. Not that the price has risen very much which is something that you can see from the chart itself and is common sense.
Where and when it will stop will be given by price action. The speed of rise will slow down, price action and history will tell you probable points of resistance and support which in turn give points where price will reverse. These tell you when and where the rise will stop. No indicator or systems based on indicators can tell you that. They always tell you what has happened and not what is going to happen. Only price action and history can tell you those. Fibos and elliot are based on price action and history and that is why they succeed so much. They are simple and straightforward. They are based on price action and that is why they are so effective.
So learn to analyse price action. This is the best way to make money in trading.