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Trading using Murray Maths and Price Action

  • #161
  • Mar 26, 2009 1:20am Mar 26, 2009 1:20am
good to see this thread in interactive trading again.FF people working behind the scene then .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #162
  • Mar 26, 2009 3:18am Mar 26, 2009 3:18am
good...i believe this thread is back in the forum where it should be....hopefully, more people will see it and will have more interaction going forward...

GC has broken its resistance at 1.6357 and is making good progress so far....EJ and GJ should follow suit...
  • #163
  • Edited 5:25am Mar 26, 2009 4:28am | Edited 5:25am
Quoting ns_karthik
good...i believe this thread is back in the forum where it should be....hopefully, more people will see it and will have more interaction going forward...

GC has broken its resistance at 1.6357 and is making good progress so far....EJ and GJ should follow suit...
Just see GC & place one long there for the first time in this pair.TP1 1.6479 , sl 1.6313, is this safe?
fontu

seems safe, sl change to ensure minimum profit at 1.6370 .
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #164
  • Mar 26, 2009 7:50am Mar 26, 2009 7:50am
Hi all, playing with this for now, see for which side will break
Attached Image
Non sunt multiplicanda entia preater necessitaem
  • #165
  • Mar 26, 2009 8:10am Mar 26, 2009 8:10am
Quoting Zaka
Hi all, playing with this for now, see for which side will break
Hi Zaka , good chart ,which indicator u use for those colored shades ?
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #166
  • Mar 26, 2009 8:20am Mar 26, 2009 8:20am
Quoting Zaka
Hi all, playing with this for now, see for which side will break

zaka,
ur chart seems very colorful and pleasing....anyone would want to trade using that...:-))...

all pairs seem to be ranging for now...which is good for us scalpers...as long as u r patient to wait for entry near supports and resistances.....made loads of pips from morning.....
  • #167
  • Mar 26, 2009 8:22am Mar 26, 2009 8:22am
Asian/Europe/USA session, got it from someone here in FF cant remember who?
Attached File(s)
File Type: ex4 i-Sessions.ex4   6 KB | 628 downloads
File Type: mq4 i-Sessions.mq4   6 KB | 795 downloads
Non sunt multiplicanda entia preater necessitaem
  • #168
  • Mar 26, 2009 8:22am Mar 26, 2009 8:22am
GU near small support...long at 1.4588.....SL 30 pips.....
  • #169
  • Mar 26, 2009 8:35am Mar 26, 2009 8:35am
Quoting ns_karthik
GU near small support...long at 1.4588.....SL 30 pips.....
Hi Karthik, do you put limit order at the price of s/r ? + - spread? or do you just buy/sell at market price?

Thanks for your efforts here
Non sunt multiplicanda entia preater necessitaem
  • #170
  • Mar 26, 2009 8:46am Mar 26, 2009 8:46am
Quoting Zaka
Hi Karthik, do you put limit order at the price of s/r ? + - spread? or do you just buy/sell at market price?

Thanks for your efforts here
S and R are not stuff which r exact prices.....always S and R are a band of prices...so u just cant put in limit orders and hope that it would be hit....so i just sell and buy at market price...
  • #171
  • Mar 26, 2009 9:06am Mar 26, 2009 9:06am
Quoting ns_karthik
GU near small support...long at 1.4588.....SL 30 pips.....

hit SL.... GU at important support at 1.4526...breaks, down we go...will have to wait and see....looks like it might hold...i am playing the GJ though...nice range...
  • #172
  • Mar 26, 2009 12:05pm Mar 26, 2009 12:05pm
GJ and UJ closed below supports...they could go down now...
  • #173
  • Mar 26, 2009 12:10pm Mar 26, 2009 12:10pm
Hi karthik..thanks for sharing your insights to us..really helpful to newbies... btw i've got a ques.. I've been trying out your method but seem to be only breaking even. Need ur guidance. I cant b in the asian sessions as I am working..

1) do u only make trades from MM levels or the other S&R as displayed on the charts as well?

2) how long do you usually wait before u take profit? I see that sometimes u take profit at lower than ur usual 20-30 pips why so? is it because its a countertrend trade? These few days was quite hard 2 actually determine a trend for some pairs as it has been ranging.

3) u said that when a pair breaks, say a R line, wait 10-15 mins to confirm the break. A lot of times it stays broken in the first 10-15mins then i enter a long trade. After that it goes bck below the S&R and stays there for another say 20 mins. Is there any other way you judge a break of a S&R or purely just wait 10-15mins? I know i have a lot to learn about PA but could you give a more insights into actually what PA is?

sorry 4 de long ques

thanks and regards

EL
  • #174
  • Mar 26, 2009 12:27pm Mar 26, 2009 12:27pm
Quoting Zaka
Hi all, playing with this for now, see for which side will break
Hey Zaka so how do you trade these shapes?
  • #175
  • Mar 26, 2009 12:37pm Mar 26, 2009 12:37pm
Quoting ns_karthik
GJ and UJ closed below supports...they could go down now...
glad to see u here.. can trade alongside -)

for GJ., u will go short at ard 142.94 if it retest that level based on 1 hr chart?

for UJ, short at ard 98.5 based on 1hr chart?

ok..price retest 98.5 ..i'm short at 98.5.. did i make a correct trade based on your view?

TQ!
  • #176
  • Mar 26, 2009 12:47pm Mar 26, 2009 12:47pm
Quoting everlearning
Hi karthik..thanks for sharing your insights to us..really helpful to newbies... btw i've got a ques.....


hi,
nice of u to have that willingess to learn....and i am previleged that ur first post in FF is in my thread....thanks for that...now to ur questions:

1. i trade MM and i also trade using the S & R that i see on the charts...i dont draw too many lines on the chart....i draw only the MM lines using the indicator...rest of the S and R , i just notice it by having a overall look at the charts in various timeframes and seeing where price reverses....

2. as for profit taking, it just depends on my mood....i dont have any fixed TP in mind...of course, if the trade is a counter trend trade, i go for smaller TP....as i said, i just go for 50 pips a day...anything more that i get (i usually get more), is a bonus for me....so if i take 5 trades a day for 10 pips each, i am done.....i am a scalper and so the trend does not matter to me...i usually take 15-20 trades day and my drawdown (and hence my SL) is only abt 30-40 pips.....so even if i make 5 pips per trade, i get 100 pips a day...its just a question of having the discipline...

3. this is a tough question actually....this is where the market 'feel' comes in....this market feel is developed only with experience...nothing else....there are several intricate things which u need to understand, all of which i cannot remember now....but one thing...whenever a S or R is broken and price runs away up or down, 80% of the time, within 5-10 mins,price will come back to the S or R....the PA at this point is the one which will tell u whether the S or R is truly broken or not....during this re-visit, if price again stalls or continues with its initial move, then we can assume that the S or R is broken.....but, if during the re-visit, if price continues the move of the re-visit, then we can assume that the S or R is not broken....watch PA very closely and u will be amazed how true this is....there is reason behind these moves which i will explain some other time...

hope i have said something of use...
  • #177
  • Mar 26, 2009 12:57pm Mar 26, 2009 12:57pm
now as an example GJ has broken support at 142.20 and now at 141.95...lets see if it gets back to its broken support of 142.20...

edit - hope it does not make me look like a fool...:-)...
  • #178
  • Mar 26, 2009 1:02pm Mar 26, 2009 1:02pm
Quoting ns_karthik
now as an example GJ has broken support at 142.20 and now at 141.95...lets see if it gets back to its broken support of 142.20...

edit - hope it does not make me look like a fool...:-)...

there u go...its at 142.20....:-)))...it may move slightly higher as well to reach the small support at around 142.35...but u can clearly see that the trend is down....and u can also see that the price will slow down and start stalling at around 142.35....if it does not stall and keeps going up quickly, then u know that its a false break...and u can go long....

edit - if it stalls or continues down, then u can add more shorts as this is a confirmation of the break...
  • #179
  • Mar 26, 2009 1:27pm Mar 26, 2009 1:27pm
Quoting ns_karthik
hi,
nice of u to have that willingess to learn....and i am previleged that ur first post in FF is in my thread....thanks for that...now to ur questions:

1. i trade MM and i also trade using the S & R that i see on the charts...i dont draw too many lines on the chart....i draw only the MM lines using the indicator...rest of the S and R , i just notice it by having a overall look at the charts in various timeframes and seeing where price reverses....

2. as for profit taking, it just depends on my mood....i dont have any fixed TP in mind...of course,...

Thanks for the quick reply and yes.. you did say something of use... for the first answer.. if u are using he 1hr chart, do u zoom down only to the SMALLER TFs to draw ur reversal S&R lines or go up to the higher TFs like 4hr and daily to do so?

tx again.. and the price for gj did stall.. i went short at 142.26.. lets wait n c what happens.. might b a genuine break..
  • #180
  • Mar 26, 2009 1:35pm Mar 26, 2009 1:35pm
Quoting everlearning
Thanks for the quick reply and yes.. you did say something of use... for the first answer.. if u are using he 1hr chart, do u zoom down only to the SMALLER TFs to draw ur reversal S&R lines or go up to the higher TFs like 4hr and daily to do so?

tx again.. and the price for gj did stall.. i went short at 142.26.. lets wait n c what happens.. might b a genuine break..

i took another short at 142.32 (piling on) and tp at 13pips.

original short at 142.26 still waiting to see if can reach 141.99. will tp at that level.
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