Hey folks
Love the MM thread. When I started trading a couple of years ago I was introduced to MM. It was very logical and straight forward and ez for a newbie. I did very well without knowing anything. Then I decided to educate myself more ...thats where the problems began. Trying to many indicators and systems messed me up and I could really never get a feel like I did with MM. Now I do much better using MM, channels, PA and Volume.
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..
Ignored
when i trade the 1H charts, i look for S and R in 1H, 4H and daily...
tough support at 140.6.....could try low risk longs from there....those who are caught up with longs from higher price can try some more longs when price gets near 140.6 to average out....
tough support at 140.6.....could try low risk longs from there....those who are caught up with longs from higher price can try some more longs when price gets near 140.6 to average out....
Ignored
Averaging out?
So you think we are in a up trend? and it will come back if it goes lower?
So you think we are in a up trend? and it will come back if it goes lower?
Ignored
as i said, i am a scalper and so the direction does not matter to me....as i said, the support is at 140.60....so if someone had entered longs at around 142 - 142.5, they could try averaging from 140.60 - 141.1 as the price will bounce from the support of 140.6 atleast once or twice and move up for abt 80-100 pips by which time, people who had longed from 142 and again from 140.80 (say) could get out with little to no loss....to be honest, thats what i did and have got out of my longs already...
Thank you for starting this thread. I too like to trade using support and resistance levels. I found the murry math indicator on another thread and applied it to my charts for the last month. Basically, I was trying to figure it out on my own as I could not find any material online. I wanted to learn what the different levels meant and how price would react at these levels.
I will read through the thread and post questions.
Hi All,
I am Karthik from India. I have been trading forex for the past 4-5 years (never realised that i was trading for so long until i checked my records today !!). Anyway, as the title suggests, i trade mainly using Murray Maths and Price Action. Before i go any further, a little history about my forex career.
As stated, i started out about 4-5 yrs back. I have lost a lot of money and i have also gained a lot of money. But most importantly for me, i have learnt a lot during the journey. As my experience grew, i also started managing accounts....
Thank you for starting this thread. I too like to trade using support and resistance levels. I found the murry math indicator on another thread and applied it to my charts for the last month. Basically, I was trying to figure it out on my own as I could not find any material online. I wanted to learn what the different levels meant and how price would react at these levels.
I will read through the thread and post questions.
50 pips a day, as i said, should be easy as long as ur patient and are not greedy...some people just walk off from trading after they have made 50 pips for the day...maybe u could try that for sometime just to learn that self-control...
anyway, as for Murray Maths, it is quite a complicated topic where price and time are divided into multiples of 1/8 and each level is assigned a specific importance....i could do into details but it could get very complicated....i have a PDF for those who might be interested....lemme know if u need it...from trading...
Trading using Murray Maths and Price Action
