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Murrey Math Daily System

  • #281
  • Oct 29, 2009 4:04pm Oct 29, 2009 4:04pm
feel free to post it if you'd like. I'm all for it if someone feels it will be helpful.
  • #282
  • Oct 29, 2009 4:20pm Oct 29, 2009 4:20pm
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.
hi, I have opened total of 4 trades and I have also got the BES with eur/gbp about 30 pips, the other 3 I had to close them out with a min loss with due to retracements and I haven't kept them open for the whole day because the trades were going against me and I also have my own way of out as well before the trade goes against me fully so that I don't loose more. What I do is in the 15 min chart I place a line between the high and low and if it breaks that line then I decide if the trade is good or bad
  • #283
  • Oct 29, 2009 4:52pm Oct 29, 2009 4:52pm
Quick question

Ive only just got into this thread so Ive got some catching up to do. Im looking at all the charts and if things stay pretty much as they are I see the following trades could be coming up:-

EURUSD long, heading for even level, with not much head room so smaller lot size
GBPJPY long, heading for odd level so ok to go with bigger lot
EURCAD short, same as above
GBPCHF long - heading for even but has loads of room so big or small lot ?

anyone agree/disagree


ab1
  • #284
  • Oct 29, 2009 4:54pm Oct 29, 2009 4:54pm
Guys MM lines are very powerfull so far. I am also using them my own way of trading for the past 3 days and so far it is all positive, last night I had 7 trades and all were positive again. I will not share it yet due to it is too early. When I am more in to this strategy then I will open a new thread.
  • #285
  • Oct 29, 2009 5:04pm Oct 29, 2009 5:04pm
hi, mer - great job on the thread - thanks for sharing! has anybody tried this out on lower TFs?
  • #286
  • Oct 29, 2009 5:20pm Oct 29, 2009 5:20pm
Ive noticed that most of you guys have a big price displayed in the bottom left hand corner, thats not on mine ?

Any ideas please.

ab1
  • #287
  • Oct 29, 2009 5:40pm Oct 29, 2009 5:40pm
Hello everyone,

Thank Mer for sharing this profitable system. I trade forex for 2 years usisn scalper strategies most of the time. Sometimes i win, sometimes i lost. That's forex. Now i'm looking for a non stress strategy and i thin that this a good system.

Now my question.
The broker server time is diferent among the brokers. IBFX use GMT, Alpari use GMT-1.
What time should we use to place the orders? Now we are at 22.40 GMT. Should we place orders at 23.00 GMT or at 24.00 GMT?

Good trades and thanks in advance.
  • #288
  • Oct 29, 2009 5:54pm Oct 29, 2009 5:54pm
Quote
What time should we use to place the orders? Now we are at 22.40 GMT. Should we place orders at 23.00 GMT or at 24.00 GMT?

All orders are placed at 00:00 GMT


Okay here's the plan for tonight. First off the two I showed before:

Eur/Usd-Long-Bullish outside bar has formed hoping to retrace to the 61.8. I will use larger lots on this one.

Gbp/Usd-Long- With the strong confluence ahead I will tak a long with extremely low lots.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 62 KB
Click to Enlarge Name: gbpusd.gif Size: 66 KB
  • #289
  • Oct 29, 2009 6:04pm Oct 29, 2009 6:04pm
Gbp/Jpy-Long Normal trade with larger lots, just watch for resistance near the double top.

Usd/Cad-Short_ Heavy confluence at the 76.4 and 161.8 Extension from the shorter fib. Larger lots can be used.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 65 KB
Click to Enlarge Name: usdcad.gif Size: 55 KB
  • #290
  • Oct 29, 2009 6:10pm Oct 29, 2009 6:10pm
Gbp/Chf-Long-No retrace yet and pin bar formed, use extremely low lots. Good movement off the 50 fib though, could go either way.

Eur/Cad-Short- Heavy confluence at the 76.4 fib and the 138.2 Extension. Price is having a tough time getting past this.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 53 KB
Click to Enlarge Name: eurcad.gif Size: 56 KB
  • #291
  • Oct 29, 2009 6:14pm Oct 29, 2009 6:14pm
Mer

So can I just clear something up then please. The collective FX is 00:12 currently and a new candle has formed, but 0:00GMT isnt for another 48 mins.

So we are waiting then for 01:00 on Collective FX, 1 hour into the new candle is that right ?

Many thanks


ab1
  • #292
  • Oct 29, 2009 6:19pm Oct 29, 2009 6:19pm
You want 00:00 on your broker's time, not actual GMT time.
  • #293
  • Oct 29, 2009 6:23pm Oct 29, 2009 6:23pm
Quoting mer071898
You want 00:00 on your broker's time, not actual GMT time.
Ah... thats what I thought, it seemed a bit weired we would wait for another hour

thanks


ab1
  • #294
  • Oct 29, 2009 6:27pm Oct 29, 2009 6:27pm
0000 for my broker (IBFX) is also at 0000 GMT which is in about half an hour.

I've been opening my trades at the same time as Scott which is about a half an hour ago. I've been cheating a little.
You are in a maze of twisty little passages, all alike.
  • #295
  • Edited Oct 30, 2009 8:33am Oct 29, 2009 6:29pm | Edited Oct 30, 2009 8:33am
Trades taken:

Eur/Usd-Long- TP-52, SL-196, BE-26, BES-13, and TS-6, 8 lots

Gbp/Usd-Long- TP-40, SL-210, BE-20, BES-10, and TS-5, 2 lots

Gbp/Jpy-Long- TP-152, SL-490, BE-76, BES-38, and TS-19, 6 lots

Gbp/Chf-Long- TP-216, SL-280, BE-108, BES-54, and TS-27, 2 lots

Usd/Cad-Short- TP-46, SL-200, BE-23, BES-12, and TS-6, 8 lots

Eur/Cad-Short- TP-80, SL-180, BE-40, BES-20, and TS-10, 8 lots
  • #296
  • Oct 29, 2009 6:31pm Oct 29, 2009 6:31pm
Shouldn't the SL on GBPUSD be around 200 pips, and USDCAD be about 190?
You are in a maze of twisty little passages, all alike.
  • #297
  • Oct 29, 2009 6:32pm Oct 29, 2009 6:32pm
Quote
0000 for my broker (IBFX) is also at 0000 GMT which is in about half an hour.

I've been opening my trades at the same time as Scott which is about a half an hour ago. I've been cheating a little.

Shame on you Steve, no cutting corners now!
  • #298
  • Oct 29, 2009 6:34pm Oct 29, 2009 6:34pm
Yes, Steve, it should. I just caught that as I went through and double checked (hint, hint) my settings. Did the same thing on Eur/Usd and Usd/Cad. That's what can happen when you're in a rush so be sure to go back and check, thanks for the post Steve even though I would have caught it.
  • #299
  • Oct 29, 2009 6:35pm Oct 29, 2009 6:35pm
Ah, you should be using my spreadsheet then! LOL
You are in a maze of twisty little passages, all alike.
  • #300
  • Oct 29, 2009 6:42pm Oct 29, 2009 6:42pm
I might just have to try it out next week, but I was running behind tonight trying to post up some chart examples.
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