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Trading using Murray Maths and Price Action

  • #641
  • Apr 2, 2009 2:36am Apr 2, 2009 2:36am
Quoting zuzia9
Hi Fontu whayt TF are You working with E/U?
Zuzia9

zuzia, werent u supposed to go to sleep ?? now be a good girl and go to sleep....
  • #642
  • Apr 2, 2009 2:38am Apr 2, 2009 2:38am
Quoting myfx
Hi,

One silly question. Can someone tell me how to calculate pip earned or lost in MT4? I traded for 1 lot with the deposit of $5,000 (Demo) and I just closed GJ with profit of $253. I am wondering 253 represents how many pips.

-myfx-
Point your mouse to click the trade tab to bring up the area where your current active trades are displayed. Find the the column with the header 'profit' and right click on it. Point to the context menu 'profit' and click on 'as point'. That should display your profit as number of pips won or lost.
  • #643
  • Apr 2, 2009 2:40am Apr 2, 2009 2:40am
Quoting samba6
Point your mouse to click the trade tab to bring up the area where your current active trades are displayed. Find the the column with the header 'profit' and right click on it. Point to the context menu 'profit' and click on 'as point'. That should display your profit as number of pips won or lost.

another first time poster....congrats and welcome to the thread...and thanks for ur answer....
  • #644
  • Apr 2, 2009 2:41am Apr 2, 2009 2:41am
Yes I am going.... I made some on the pull back .
By
Zuzia9
  • #645
  • Apr 2, 2009 2:48am Apr 2, 2009 2:48am
Hey Karthik,

Good to see you around man... I've been gone since yesterday taking care of some family matters... I can see that you got a nice pip shower today... Congrats on that

I'll be trading lightly today as I consider most of the movements will be based on fundamentals... In fact I just had a nice ride up and down on E/U thanks to the HPI m/m news...

See ya around,
  • #646
  • Apr 2, 2009 2:57am Apr 2, 2009 2:57am
Quoting samba6
Point your mouse to click the trade tab to bring up the area where your current active trades are displayed. Find the the column with the header 'profit' and right click on it. Point to the context menu 'profit' and click on 'as point'. That should display your profit as number of pips won or lost.

Wow..thank you man...I did not expect answer for that post, coz, i posted it almost a week back.

Thank you.

-happyTrading- myfx.
-happyTrading-myFx.
  • #647
  • Apr 2, 2009 2:59am Apr 2, 2009 2:59am
Quoting zuzia9
Hi Fontu whayt TF are You working with E/U?
Zuzia9
H1 with daily trend confirmation & target in mind from H4 but fine tuning from lowest Tf very often during scalping short pips.
Thanks
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #648
  • Apr 2, 2009 3:07am Apr 2, 2009 3:07am
gbpjpy is at 144.53, the 1/8 overshoot. Is this a good time to short?
  • #649
  • Apr 2, 2009 3:17am Apr 2, 2009 3:17am
Quoting ns_karthik
attached is a 4H chart of EURUSD...just watch how price responded to each murray math level...all u had to do was to be patient, wait for price to reach each level and trade accordingly....if u did, u could make quite a bit of pips...

for eg....see the long candle which took price beyond 1.3428....usually, strong resistances are broken by such long candles...if strong resistances are broken by small candles, then it means that the move is weak and it is very likely that the price may go down below the resistance soon...but since this time it was...
sorry for my newbie question. does support and resistance have to be at one of the mm levels? I noticed that the 1.3428 you talked about is at the 6/8ths pivot while the 1.3500-50 is around 7/8ths weak, stall and reverse. and those descriptive texts at the murray levels (i mean like weak, stall and reverse, bottom of trading range, major support and resistance etc), do i have to consider them when reading the support and resistances. this is as par your post on march 22nd. thanks
  • #650
  • Apr 2, 2009 3:24am Apr 2, 2009 3:24am
Quoting toafdawg
gbpjpy is at 144.53, the 1/8 overshoot. Is this a good time to short?
Just with london open most pairs reacted to UP though I do not trade GJ now still I see it also in uptrend in H4 & H1 . So U should not think shorts just by moved up , overshoot in M30 only.

As I see H1 chart ,when if it will reach one SR at 144.52 inbetween 4/8 and 5/8MM ( actually this sr resides in the lower tf ) it will react by few pips down , can risk short for few pips & will try again to break this level , can take one small long here , and lastly it will either break up this level & go up next for the next sr 144.89 , here also UP & down for some pips & finally may head for 5/8MM to test . One should think good shorts again if fail to break any MM level & back after conform failure for the next MM level.

Just try explain , Karthik already explained about breaking level before & may give more .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #651
  • Apr 2, 2009 3:28am Apr 2, 2009 3:28am
but doesnt the +1/8 overshoot on the 1hr typically retrace down? I guess im just confused on when to enter at certain levels or when to wait for the breakout.
  • #652
  • Apr 2, 2009 3:35am Apr 2, 2009 3:35am
Quoting JFXtrader
Hey Karthik,

Good to see you around man... I've been gone since yesterday taking care of some family matters... I can see that you got a nice pip shower today... Congrats on that

I'll be trading lightly today as I consider most of the movements will be based on fundamentals... In fact I just had a nice ride up and down on E/U thanks to the HPI m/m news...

See ya around,

cool maan....was wondering where u were....
  • #653
  • Apr 2, 2009 3:37am Apr 2, 2009 3:37am
Quoting samba6
sorry for my newbie question. does support and resistance have to be at one of the mm levels? I noticed that the 1.3428 you talked about is at the 6/8ths pivot while the 1.3500-50 is around 7/8ths weak, stall and reverse. and those descriptive texts at the murray levels (i mean like weak, stall and reverse, bottom of trading range, major support and resistance etc), do i have to consider them when reading the support and resistances. this is as par your post on march 22nd. thanks

Samba,
the odd numbered SR levels are the weakest ones and the even numbered are the strongest levels...the descriptive texts are just a guidance for u in case u forget...once u start trading using this method, those texts become immaterial to you....actually the texts just tell u that the odd numbered ones are the weak ones...thats all....

hope i answered your question...
  • #654
  • Apr 2, 2009 3:41am Apr 2, 2009 3:41am
Quoting toafdawg
but doesnt the +1/8 overshoot on the 1hr typically retrace down? I guess im just confused on when to enter at certain levels or when to wait for the breakout.
It retrace down a little for every MM line for most time , also in Overshoot levels ,actually they are +-1/8MM or -+2/8MM levels in red of the next cycle .

trend does not follow MM ,it can go either direction as with PA .we just trade following MM line & with trend where ever it go ,much UP after overshooting or down by Undershooting & follow new MM levels & forget the past.

Hope it will help.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #655
  • Apr 2, 2009 3:44am Apr 2, 2009 3:44am
Quoting toafdawg
but doesnt the +1/8 overshoot on the 1hr typically retrace down? I guess im just confused on when to enter at certain levels or when to wait for the breakout.

as pointed out, SR are not levels where price will definitely reverse or such...SR levels are just levels wherein price is more likely to reverse than at any other level...so, it is not that price should reverse at some point...the +1/8 and so on levels just tell u that the market is overbought and as price moves to more and more + levels, the market is likely to reverse more and more....this usually happens during strong trends and at lower TFs....but even in such cases, it is not a given that price should reverse....they might just wander at this point forever or they might just continue in the same direction....

so if price reaches +1/8 or any other resistance level, there will be some pull back...will the pull back lead to a retrace or a correction is something that the market will decide...we shall not assume that....we will try to be logical and just follow the market and not try to predict the market...

predicting the market is the toughest thing to do and very dangerous as well...so when it reaches a MM level, consider the overall trend....expect some pull back but price will continue to move in the overall direction...so if the pull back is against the overall trend, take a small trade , as it is in the opposite direction, for a few pips and wait for the trend to break the MM level...when the MM level is broken, enter a bigger trade in the assurance that the trade will be in the direction of the trend and also with the fact that the MM level has been broken and hence will act as strong SR...
  • #656
  • Apr 2, 2009 3:46am Apr 2, 2009 3:46am
So in this case, you would look to go long at say 144.70?
  • #657
  • Apr 2, 2009 3:57am Apr 2, 2009 3:57am
Quoting ns_karthik
cool maan....was wondering where u were....
Hey Karthik

I've been reading the thread off line... so I don't miss any of the action...
  • #658
  • Apr 2, 2009 3:59am Apr 2, 2009 3:59am
I closed GJ with +30 pips...

-happyTrading- myfx.
-happyTrading-myFx.
  • #659
  • Apr 2, 2009 4:00am Apr 2, 2009 4:00am
Quoting toafdawg
So in this case, you would look to go long at say 144.70?
yes , if there was a proper break and if the break holds....but pls also note that the last highs are also nearby...so it could be a dangerous place to go long...
  • #660
  • Apr 2, 2009 4:02am Apr 2, 2009 4:02am
Quoting ns_karthik
yes , if there was a proper break and if the break holds....but pls also note that the last highs are also nearby...so it could be a dangerous place to go long...

So how do you determine what constitutes a proper break, and what constitutes a hold? Thanks for your help.
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