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Trading using Murray Maths and Price Action

  • #1,181
  • Apr 8, 2009 8:10am Apr 8, 2009 8:10am
Looking GJ 5/8MM breaking down & successfull will relieve a little for trades I suddenly opened just opening the computer without seeing the whole picture.
PA at the top of the downtrend may come back to the bottom again but seems little hope seeing traders posts.

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,182
  • Apr 8, 2009 8:15am Apr 8, 2009 8:15am
Quoting myfx
Hello,

MM = MurreyMath level / lines
MT4 = MetaTrader4 (Trading station)
Thanks for your info.
  • #1,183
  • Apr 8, 2009 8:27am Apr 8, 2009 8:27am
Quoting ns_karthik
cool mate...JPY crosses have broken thru resistances...we might be looking at a change of trend....
The bears are hiding, and the bulls haven't come out to play. Time to sit on my hands for a bit. Only pair that look reasonable for a short is EUR/GBP if we see a retracement to 5/8th 1hr MML around 0.9064.
non si dimentichi mai
  • #1,184
  • Edited 9:22am Apr 8, 2009 8:55am | Edited 9:22am
PA tested break the GJ ,EJ top of the channel or 6/8MM again but seem failing , if true then we to go down the channel again. I did not close loss trades even when the loss come down to half,I want it test for long time & then only resume normal trading .

fontu

Yes it worked & halfof trades closed with profit & rest let go anywhere .I am sure they will be positive & will add more shorts in sets.
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,185
  • Apr 8, 2009 9:26am Apr 8, 2009 9:26am
55pips on GJ short from 5/8th 1hr MML, now looking for good retracement before re-entering. Good call Fontu, I would have missed the tired looking up move without your post.
non si dimentichi mai
  • #1,186
  • Apr 8, 2009 9:32am Apr 8, 2009 9:32am
Hi karthik,

nice thread. trying to learn a bit from here.

Could you or anyone explain how this recent move of EJ from 132.81 to 132.23 would have been played? On the 1Hr, the 132.81 broke on the downside again (after being above the level for sometime).. So what would determine the level being broken and how would you have traded it?

Just trying to understand, so help would be great!

Thanks
  • #1,187
  • Apr 8, 2009 10:37am Apr 8, 2009 10:37am
Karthik,

I'm sure it depends on each and every trade as to how much you might let one go against you but, on average, about how many pips at a loss do you close trades that lose? Does that make sense?
  • #1,188
  • Apr 8, 2009 10:45am Apr 8, 2009 10:45am
Today market is extremely crazy, full of bull-bear battle , no one is loosing yet .No clear direction yet.Simply open a trade is inviting trouble . Eurusd trying the lead the party bulls & break the top of channel already.Ej followed but other hesitative .

fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,189
  • Apr 8, 2009 10:47am Apr 8, 2009 10:47am
Quoting fontu
Today market is extremely crazy, full of bull-bear battle , no one is loosing yet .No clear direction yet.Simply open a trade is inviting trouble . Eurusd trying the lead the party bulls & break the top of channel already.Ej followed but other hesitative .

fontu
I just want my GAP filled... has not given me in 2 days... O_O

I am perfectionist, want to see every H1 major level revisited before we can decide where to go...
  • #1,190
  • Apr 8, 2009 10:51am Apr 8, 2009 10:51am
Quoting smjones
The inverted H & S won out
I for one much appreciate your posts with diagnosis . You are teaching a lot
I am learning to walk in forex so your wisdom from years of screen time really
help the learning process . If you don`t mind , it would be valuable to know
how you manage a trade like this one . Did you enter as soon as the break
out above the T/L ? There then was a pullback , how do you manage that ?
It looks like you use a take profit type EA ? Do you scale out of trades ?
I am at the point of being able to identify trades but make mistakes entering
and exiting , either too late , too soon . Don`t know if learning that will ever
stop . If this subject has been discussed on one of your other threads please let me know so you don`t need to repeat it .
Thank you
glass
  • #1,191
  • Apr 8, 2009 10:53am Apr 8, 2009 10:53am
Quoting b-rice
Karthik,

I'm sure it depends on each and every trade as to how much you might let one go against you but, on average, about how many pips at a loss do you close trades that lose? Does that make sense?
which time frame do you trade? and what position size vs acc size right now?

just help clarify so some auth could jump on answer it... I'm secretary...
  • #1,192
  • Apr 8, 2009 10:54am Apr 8, 2009 10:54am
Quoting glass
I for one much appreciate your posts with diagnosis . You are teaching a lot
I am learning to walk in forex so your wisdom from years of screen time really
help the learning process . If you don`t mind , it would be valuable to know
how you manage a trade like this one . Did you enter as soon as the break
out above the T/L ? There then was a pullback , how do you manage that ?
It looks like you use a take profit type EA ? Do you scale out of trades ?
I am at the point of being able to identify trades but make mistakes entering
and exiting , either...
I am still hacking this scott the ATM machine... wait in line for him to be passing the key or find out yourself...
  • #1,193
  • Apr 8, 2009 10:55am Apr 8, 2009 10:55am
Quoting smjones
Yes, if you look at the index futures, this is the first day in many wher the sell off is not even reaching 1 % I can not decalre a negative bias unless the futures are more negative than 1% and they must not be mixed. So something is in the wind LOL
another pearl of wisdom from experience
glass
  • #1,194
  • Apr 8, 2009 10:57am Apr 8, 2009 10:57am
Quoting topdogg
Hi karthik,

nice thread. trying to learn a bit from here.

Could you or anyone explain how this recent move of EJ from 132.81 to 132.23 would have been played? On the 1Hr, the 132.81 broke on the downside again (after being above the level for sometime).. So what would determine the level being broken and how would you have traded it?

Just trying to understand, so help would be great!

Thanks
well, break of support and staying below that level for some time would confirm the break...hence u could then short....or price could break support, run down for 20-30 pips, then stall and then slowly retrace back to support, then stall at support for sometime without breaking back and running away...this confirms the break and u can short there as well...
  • #1,195
  • Apr 8, 2009 10:58am Apr 8, 2009 10:58am
Quoting b-rice
Karthik,

I'm sure it depends on each and every trade as to how much you might let one go against you but, on average, about how many pips at a loss do you close trades that lose? Does that make sense?
i look for a risk reward ratio of atleast 1:1....so if TP is 30, i look for SL of 30 pips....as long as u take trades close to SR, this is easily achievable...
  • #1,196
  • Apr 8, 2009 11:00am Apr 8, 2009 11:00am
Quoting ns_karthik
well, break of support and staying below that level for some time would confirm the break...hence u could then short....or price could break support, run down for 20-30 pips, then stall and then slowly retrace back to support, then stall at support for sometime without breaking back and running away...this confirms the break and u can short there as well...
hi karthik! my GAP is coming... GAP I asked for days. P_Q

the pivot reverse - major level has any difference than other levels?

why it is named reverse is there a list to explain what each level's meaning is, thanks...
  • #1,197
  • Apr 8, 2009 11:03am Apr 8, 2009 11:03am
Good afternoon to you all,

Firstly great thread and I thank Karthik for starting it. I would also like to thank the many great posters in here.
I am a part time trader of 12 months and after doing all the newbie things, building an account, blowing my profits to grow it again to blow the profits once more, I am now back to my original investment. I did the usual, blew some money on an automated system (I know, stupid mistake), it worked then it didn;t and so it goes on. I then find this thread and it has been a god send to me in helping to clear my mind of all that junk and this time start again but learning the right ways, S/R, PA etc...

So if I may a few questions;

1) Do any of you use any other Pivot S/R tools or is it just the Murrey maths indicator? (I am using the one that shows the 1 hr levels on lower timeframes)

2) I have noticed a few people saying that they take entries off M5 or M15 using the 1 hour level. In the experience of people, which would you say is more helpful?

3) Do you look for a preicse entry around the MM levels or is it a range around these levels?

I know I have goen on a bit but I thank you all for your input here and again to Karthik for starting the thread.

Best wishes to you all

Wayne - UK
  • #1,198
  • Apr 8, 2009 11:06am Apr 8, 2009 11:06am
Quoting billye
I just want my GAP filled... has not given me in 2 days... O_O

I am perfectionist, want to see every H1 major level revisited before we can decide where to go...
well do not expect or instruct the market to move as u want it to...learn to go wit the markets...
  • #1,199
  • Apr 8, 2009 11:10am Apr 8, 2009 11:10am
Quoting billye
I just want my GAP filled... has not given me in 2 days... O_O

I am perfectionist, want to see every H1 major level revisited before we can decide where to go...
Do not understand what u r talking about .

The leader of the bull EU may bounc from 2/8MM level as no other pair followed it to break channel & UP .If so again bear to win.

just my idea.
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,200
  • Apr 8, 2009 11:12am Apr 8, 2009 11:12am
Quoting billye
hi karthik! my GAP is coming... GAP I asked for days. P_Q

the pivot reverse - major level has any difference than other levels?

why it is named reverse is there a list to explain what each level's meaning is, thanks...
the even number MM levels are stronger than the odd numbered ones....esp. 4/8 , 8/8 and 0/8 are very strong levels of SR...
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