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Trading using Murray Maths and Price Action

  • #381
  • Mar 30, 2009 11:31pm Mar 30, 2009 11:31pm
Quoting 4xleader_82
EJ shorted the 129.70 break as well. (1h 3/8th mm confirmed) exit for 30 pips.
(5min 3/8th level was touched ) long for the retrace 15 pips.

The MM levels change from each time frame. except 1hr and 4hr they seam to be the same.(IM new to this Indicator but not the S/R entries) It sounds like you enter On 1hr SR breaks only... Your either playing it safe or you have a lot of success so why risk any pips.

I like your interactive forum and i like your persistence. Your trades are profitable and quick. I too am a scalper of some sort.

I'd like...

thanks for ur comments...as for exits, my target is just 50 pips a day....so if i see a stall or even a small retrace and if i get enough profits (even if as low as 5-6 pips), i just exit....
  • #382
  • Mar 30, 2009 11:37pm Mar 30, 2009 11:37pm
Quoting ns_karthik
shorted Gj again from 140.55....am i persistent or what....
another disaster...exited with 38 pips loss....
  • #383
  • Mar 30, 2009 11:39pm Mar 30, 2009 11:39pm
I use basically the same strategy. As a scalper, a pip is a profit worth saving. I place a lot of trades a day and I'm happy with any profit. Greed will only get you in the red. It's a turtles race in the game. Keep up the good work.
  • #384
  • Mar 30, 2009 11:44pm Mar 30, 2009 11:44pm
Quoting ns_karthik
another disaster...exited with 38 pips loss....

I use a hedge in these unpredictable markets. If its not going in my favor, place an equal opposite trade. In ranging markets and high volitility this works great. Ride the wave both ways, I can elaborate more but this is your forum and your strategy. (hedging sounds crazy but with some experience and the right tools. pips just flow in)
  • #385
  • Mar 30, 2009 11:47pm Mar 30, 2009 11:47pm
i agree with u karthik. gbp/jpy is going crazy right now. lol
GreedIsGood?
  • #386
  • Mar 30, 2009 11:48pm Mar 30, 2009 11:48pm
Quoting 4xleader_82
I use a hedge in these unpredictable markets. If its not going in my favor, place an equal opposite trade. In ranging markets and high volitility this works great. Ride the wave both ways, I can elaborate more but this is your forum and your strategy. (hedging sounds crazy but with some experience and the right tools. pips just flow in)

i have tried hedging b4 but it was not of much use to me...maybe i did not know how to handle hedging...maybe i was not good at it....would love to hear what u have as ur strategy....
  • #387
  • Mar 31, 2009 12:06am Mar 31, 2009 12:06am
Quoting 4xleader_82
I use a hedge in these unpredictable markets. If its not going in my favor, place an equal opposite trade. In ranging markets and high volitility this works great. Ride the wave both ways, I can elaborate more but this is your forum and your strategy. (hedging sounds crazy but with some experience and the right tools. pips just flow in)

maybe i should have taken ur advice and taken a hedge rather than the loss...anyway, this is fun as well...all the way up and down...took a short at 140.72 again and rode it down to 140.20....so i am overall positive for the day again....
  • #388
  • Mar 31, 2009 12:10am Mar 31, 2009 12:10am
heres a very basic example using your strategy: you enter( short), when support breaks, price moves down 10 pips, but you want more, you wait for more pips... while you wait place an entry (long) above that support level. if price goes down to your goal, exit out at a profit. IF not, like many situations, a support is broke than reverse(whiplash) happens entering your entry at the support level (or slightly above).

Now you have to relax and plan your exit points for both.
Many times over again. the whipsaw will enter the entry pull up from the support and then follow back down to your support level or the goal of your first Planned trade.

Exit that Entry once it stalls or hits the last R/S level and then proceed forward (this method must be done quickly and precisely)

I use FIB retraces to exit that Entry order and I place another entry above the exit of my 1st entry order just in case the trade is still against you.

This is tedious, a pain in the ass, and always time consuming, but very little pips are lost and you gain extra pips once the cluster **** is over.

Its saved me many of times.
Practice it first. and once again I use a TICK chart on fxcm platform to perform this system.

good luck
  • #389
  • Mar 31, 2009 12:37am Mar 31, 2009 12:37am
hi this my new system
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  • #390
  • Mar 31, 2009 12:50am Mar 31, 2009 12:50am
Quoting 4xleader_82
heres a very basic example using your strategy: you enter( short), when support breaks, price moves down 10 pips, but you want more, you wait for more pips... while you wait place an entry (long) above that support level. if price goes down to your goal, exit out at a profit. IF not, like many situations, a support is broke than reverse(whiplash) happens entering your entry at the support level (or slightly above).

Now you have to relax and plan your exit points for both.
Many times over again. the whipsaw will enter the entry pull up from the...

hmmm...seems interesting...though i need to look into it a bit more to give my fair comments....
  • #391
  • Mar 31, 2009 12:50am Mar 31, 2009 12:50am
Quoting riskyachtar
hi this my new system

i guess an explanation is in order ??!!
  • #392
  • Mar 31, 2009 12:56am Mar 31, 2009 12:56am
this yo yo ranging is fun...been raking in the pips...
  • #393
  • Mar 31, 2009 1:02am Mar 31, 2009 1:02am
and it does drive us crazy right? lol
GreedIsGood?
  • #394
  • Mar 31, 2009 1:09am Mar 31, 2009 1:09am
Quoting shahru98
and it does drive us crazy right? lol
lol it does.....but guess u just have to remove ur brains , stop thinking and just trade the charts.....for eg. J has been ranging between 140.1 and 140.9....so just short from 140.8 or so and long from 140.1 or so....forget fundamentals, forget bullish or bearish....just trade...
  • #395
  • Mar 31, 2009 1:14am Mar 31, 2009 1:14am
Hello all,is very late on the West Coast of Canada .I make my 50 in green and wish You great pipin.
Good Night.
Zuzia9
  • #396
  • Mar 31, 2009 1:19am Mar 31, 2009 1:19am
Quoting zuzia9
Hello all,is very late on the West Coast of Canada .I make my 50 in green and wish You great pipin.
Good Night.
Zuzia9

thanks zuzia...nice of u to wish us...though i would wish GJ would take a direction...
  • #397
  • Mar 31, 2009 1:25am Mar 31, 2009 1:25am
whats the spread on th GJ and EJ for your brokers. its getting late, Cant wait til I move out of the FAlling United states.
  • #398
  • Mar 31, 2009 1:28am Mar 31, 2009 1:28am
EJ hit my FIB .500 level. @ 130.40looking for a quick long
  • #399
  • Mar 31, 2009 1:29am Mar 31, 2009 1:29am
Eur news seem very bad specially when german unemplyment raised so high , there will be very dificult & may take long time for the Up movements perhaps and good retracement again on the way & bad US news may be due -sideways to go UP channel with PA. thinking small shorts at times in 15Mtf .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #400
  • Mar 31, 2009 1:30am Mar 31, 2009 1:30am
Quoting 4xleader_82
whats the spread on th GJ and EJ for your brokers. its getting late, Cant wait til I move out of the FAlling United states.

GJ 4 pips and EJ 1.5 pips...
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