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Murrey Math Daily System

  • #241
  • Oct 28, 2009 10:15pm Oct 28, 2009 10:15pm
I also took gbp/aud buy since it is still not late....
  • #242
  • Oct 29, 2009 4:33am Oct 29, 2009 4:33am
Did someone say watch for retrace?
  • #243
  • Oct 29, 2009 10:16am Oct 29, 2009 10:16am
Quoting fed
4 out of 4 last night , here are my entries tonight e/u sell, a/u sell, chf/usd buy. gbp/aud, eur/gbp and eur/cad are also great entries as well.

Fed,

What is your status on your current trades?

I opened three trades on my demo account last night with V1.2...had EURGBP close as BES for about 17 pips, but the EURUSD and USDCAD are down around -100 pips each currently.

US Unemployment Claims and Advance GDP Price Index being negative for the USD might have set us up for a big hit for these pairs.
  • #244
  • Oct 29, 2009 10:54am Oct 29, 2009 10:54am
Quoting fxmaverick
Fed,

What is your status on your current trades?

I opened three trades on my demo account last night with V1.2...had EURGBP close as BES for about 17 pips, but the EURUSD and USDCAD are down around -100 pips each currently.

US Unemployment Claims and Advance GDP Price Index being negative for the USD might have set us up for a big hit for these pairs.

I took a 50 pip hit on the usdcad and my gbpaud is around -120 pips right now. However, I did get over 60 pips on the gbpcad and 36 pips on the eurgbp!
  • #245
  • Oct 29, 2009 10:57am Oct 29, 2009 10:57am
Quoting hello
I took a 50 pip hit on the usdcad and my gbpaud is around -120 pips right now. However, I did get over 60 pips on the gbpcad and 36 pips on the eurgbp!
Did you manually close the USDCAD trade? What price was your stop set to?
  • #246
  • Oct 29, 2009 11:36am Oct 29, 2009 11:36am
Edit** Nope. My stoploss was at 64 pips which was hit
  • #247
  • Oct 29, 2009 11:53am Oct 29, 2009 11:53am
First thanks for getting the correct files to me, now have them loaded all seem to be working except the Stealth EA. I can load either one, both show in the upper right corner but with a frown rather than a smile, any ideas, please help.
  • #248
  • Oct 29, 2009 11:58am Oct 29, 2009 11:58am
mer, did you take any trades today ? im asking because i dont see any open positions in your metatrader stats.
consistency wins
  • #249
  • Oct 29, 2009 12:07pm Oct 29, 2009 12:07pm
177 pips lost on the gbpaud. No big deal, I will get it back.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud102909.gif Size: 17 KB
  • #250
  • Oct 29, 2009 12:13pm Oct 29, 2009 12:13pm
Quoting rim47
First thanks for getting the correct files to me, now have them loaded all seem to be working except the Stealth EA. I can load either one, both show in the upper right corner but with a frown rather than a smile, any ideas, please help.
rim,

Have you enabled EA's in your MT4 platform? That might be the problem.
  • #251
  • Oct 29, 2009 12:21pm Oct 29, 2009 12:21pm
Hi Everyone new MM guy here, but looks great so far

Ok I can see there quite a few potential trades looming for later here. But one question, looking at the GBPCHF would that be considered a bit risksy due to the fact that PA as made it way up from just above 3/8, gone through 4/8 to 5/8 ? or will anyone be taking that looking for it to go to 6/8

cheers


ab1
  • #252
  • Oct 29, 2009 12:22pm Oct 29, 2009 12:22pm
Quoting hello
177 pips lost on the gbpaud. No big deal, I will get it back.

Hello, Hello.

I assume you placed your SL on the 5/8 ML (green). Well, this is not the way MER is placing his emergency stops. The correct stop would be the 4/8 (blue) line, so there's plenty of time and space for the trade to run into profit.
Only wanted to let you know.
OR, if I'm wrong about this - tell me, please.
42
  • #253
  • Oct 29, 2009 12:25pm Oct 29, 2009 12:25pm
Quoting Freewheelin
Hello, Hello.

I assume you placed your SL on the 5/8 ML (green). Well, this is not the way MER is placing his emergency stops. The correct stop would be the 4/8 (blue) line, so there's plenty of time and space for the trade to run into profit.
Only wanted to let you know.
OR, if I'm wrong about this - tell me, please.
you are right
consistency wins
  • #254
  • Oct 29, 2009 12:26pm Oct 29, 2009 12:26pm
Quoting Freewheelin
Hello, Hello.

I assume you placed your SL on the 5/8 ML (green). Well, this is not the way MER is placing his emergency stops. The correct stop would be the 4/8 (blue) line, so there's plenty of time and space for the trade to run into profit.
Only wanted to let you know.
OR, if I'm wrong about this - tell me, please.
Hey Free,

Your probably correct! I just recognize that I did that I made a lot of trades since last night using diff strategies, so I made an error.

Thanks for pointing out to me.
  • #255
  • Oct 29, 2009 12:36pm Oct 29, 2009 12:36pm
Quoting ab1
Hi Everyone new MM guy here, but looks great so far

Ok I can see there quite a few potential trades looming for later here. But one question, looking at the GBPCHF would that be considered a bit risksy due to the fact that PA as made it way up from just above 3/8, gone through 4/8 to 5/8 ? or will anyone be taking that looking for it to go to 6/8

cheers


ab1

Hi,

If you mean the bar that broke 5/8 and was going to 6/8 (see attachment) i personally didnt take it, not because of price action but because it closed to near to the next murray level so R/R is not good anymore ... if it closes today over 6/8 im in, im not seeing any major resistance in the area between 6/8 and 7/8 , so trend could go on.

happy trading
Attached Image (click to enlarge)
Click to Enlarge Name: pic27.gif Size: 19 KB
consistency wins
  • #256
  • Oct 29, 2009 12:36pm Oct 29, 2009 12:36pm
Quoting Freewheelin
Hello, Hello.

I assume you placed your SL on the 5/8 ML (green). Well, this is not the way MER is placing his emergency stops. The correct stop would be the 4/8 (blue) line, so there's plenty of time and space for the trade to run into profit.
Only wanted to let you know.
OR, if I'm wrong about this - tell me, please.
Hey Free,

In my chart I posted, Do you know if todays candle would close back under the 5/8 ML would that signal a sell? Would we close the buy for a lost and open a sell?
  • #257
  • Oct 29, 2009 12:42pm Oct 29, 2009 12:42pm
Quoting rim47
First thanks for getting the correct files to me, now have them loaded all seem to be working except the Stealth EA. I can load either one, both show in the upper right corner but with a frown rather than a smile, any ideas, please help.
Hi

Have you turned on the Expert Advisor Button. Ive marked it with a Black arrow?

Attached Image (click to enlarge)
Click to Enlarge Name: daily 1.jpg Size: 177 KB



ab1
  • #258
  • Oct 29, 2009 1:00pm Oct 29, 2009 1:00pm
Well, well, well. Did I tell you or did I tell you we were going to have some retraces! That's why I warned everyone to use lower lots because the market will have to correct itself at some point. Let's catch up 11 out of 12 pairs had trades last night, the lone one who didn't was Gbp/Chf. Over half have had big retraces back over the original breach. Now don't get too panicky as some of these may still close back into safe territory, some won't. Stick with the rules and it will all work out.

First off Stevegee, I like the spreadsheet but I had one question. Does the "current price" column indicate the actual current price or the price the candle closed at?

Quote
First thanks for getting the correct files to me, now have them loaded all seem to be working except the Stealth EA. I can load either one, both show in the upper right corner but with a frown rather than a smile, any ideas, please help.

rim47, Either the Expert Advisor is turned off or it's not enabled under your tools>options (see pics).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: trade.gif Size: 103 KB
Click to Enlarge Name: trade2.gif Size: 100 KB
  • #259
  • Oct 29, 2009 1:04pm Oct 29, 2009 1:04pm
Quoting hello
Hey Free,

In my chart I posted, Do you know if todays candle would close back under the 5/8 ML would that signal a sell? Would we close the buy for a lost and open a sell?
As far as I'm concerned it would be a valid short trade.

And there's the weakness of this strategy - if the market decides to oscillate around one ML you can get into a lot of trouble. BUT: Chances are that other trades are real huge "homeruns".
42
  • #260
  • Oct 29, 2009 1:10pm Oct 29, 2009 1:10pm
Quote
mer, did you take any trades today ? im asking because i dont see any open positions in your metatrader stats.

itrader, read through the thread! I told everyone just yesterday that I will be on a plane and will not be able to post any trades.

Quote
177 pips lost on the gbpaud. No big deal, I will get it back.

hello, Freewheelin is correct you were up one level too far for your stop. You must always double check you settings. You are on a daily timeframe so there is plenty of time to go back and double check everything.

Quote
Ok I can see there quite a few potential trades looming for later here. But one question, looking at the GBPCHF would that be considered a bit risksy due to the fact that PA as made it way up from just above 3/8, gone through 4/8 to 5/8 ? or will anyone be taking that looking for it to go to 6/8

ab1, this would've been a no trade for me because the candle did not breach either the 5/8 or the 6/8.

Quote
In my chart I posted, Do you know if todays candle would close back under the 5/8 ML would that signal a sell? Would we close the buy for a lost and open a sell?

hello, yes, in a normal setup you would close the bad trade and open a short trade if it closes below the 5/8.
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