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Murrey Math Daily System

  • #301
  • Oct 29, 2009 6:51pm Oct 29, 2009 6:51pm
Here are my calculations. They're very close to Scott's numbers.

http://i37.tinypic.com/33nw1vp.jpg
You are in a maze of twisty little passages, all alike.
  • #302
  • Oct 29, 2009 6:58pm Oct 29, 2009 6:58pm
Quoting Iceman
hi, mer - great job on the thread - thanks for sharing! has anybody tried this out on lower TFs?
I am also trading it with 1 hour for the past 3 days and they were all positive trades. I don't want to discuss it here becuase I want this thread to stay as is.
  • #303
  • Oct 29, 2009 7:07pm Oct 29, 2009 7:07pm
I agree, fed - thanks.
  • #304
  • Oct 30, 2009 12:15am Oct 30, 2009 12:15am
Thanks everyone for your suggestions. I had already checked all the obvious reasons still did nit help, so I cycled down the computer and fired back up and it now is working just fine.

Still a question about the EA if we set the real values for TP/SL and TS does anyone know what valuesthe dealer sees?
  • #305
  • Oct 30, 2009 12:22am Oct 30, 2009 12:22am
How often do the values for the MM Lines recalculate? It appears that the values from last night and tonight are the same, at least on the GBP/JPY. I have closed and reopened the chart but no change in value. Thanks in advance to any who help with the answer.
  • #306
  • Oct 30, 2009 12:23am Oct 30, 2009 12:23am
Hey all!! Just finished reading through the whole thread... Very fascinating and must offer public thanks to Mer for this fantastic system. Already in demo up for 13 pips (trading 1 lot for a profit of $ 130.00 on EU).


Quoting stevegee58
Shouldn't the SL on GBPUSD be around 200 pips, and USDCAD be about 190?

Anyways, if following correctly the rules, the SL on GU should be around 440 pips and not 200. I attach a chart for you to see.

Greetings from Mexico!
Attached Image (click to enlarge)
Click to Enlarge Name: Clipboard01.jpg Size: 129 KB
  • #307
  • Oct 30, 2009 1:27am Oct 30, 2009 1:27am
Quote
Still a question about the EA if we set the real values for TP/SL and TS does anyone know what valuesthe dealer sees?

The inputs of the EA are internally coded so the broker sees nothing, that's the whole purpose of it.

Quote
How often do the values for the MM Lines recalculate? It appears that the values from last night and tonight are the same, at least on the GBP/JPY. I have closed and reopened the chart but no change in value. Thanks in advance to any who help with the answer.
rim, sometimes the Murrey indicator may not change for several weeks. If it does change it will usually change when a new candle opens.

Quote
Anyways, if following correctly the rules, the SL on GU should be around 440 pips and not 200. I attach a chart for you to see.
chano, Your chart does not look anything like mine. Do you have the Murrey indicator set to 1440? Have you tried reloading the indicator or template? If so it could be different data with your broker.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 78 KB
  • #308
  • Oct 30, 2009 2:10am Oct 30, 2009 2:10am
Morning

Just out of interest I had a bit a trouble for some reason with the charts on The Collective, I think its seems to have resolved itself now, but because of that I scanned through loads of demo accounts Ive got and some of the data in the TSR was a lot different. The closest alternative I came up with that has the same Market Watch as the collective was FXCM, which also has as many pairs as the collective.

I see were down a little this morning on last nights trades, at least I placed all the same trades as Mer, which goes to show I was listening and all the reading on my first day in this thread paid off.

So, one question.....I have six trades open, so am I right in saying that I only close any bad ones at 0:00 tonight. What I mean by that is any that close above/below the Murrey level that I opened with are considered bad.

cheers


ab1
  • #309
  • Oct 30, 2009 2:21am Oct 30, 2009 2:21am
Quoting mer071898
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-170, BE-40, BES-20, and TS-10, 8 lots
Mer

I see in your trades last night that your TS is half of your Breakeven Shift, Ive adjusted mine accordingly, but in your opening instructions on how to use the system you suggest making that the same as the breakeven shift.

Any reason why you changed that or was that an error ?

ab1
  • #310
  • Edited 4:13am Oct 30, 2009 3:50am | Edited 4:13am
Quoting stevegee58
Here are my calculations. They're very close to Scott's numbers.

http://i37.tinypic.com/33nw1vp.jpg
Nice spreadsheet steve, do you have a spare one? (I am assuming it calculates automatically based on the manual input of the first 6 columns?). Cheers
  • #311
  • Oct 30, 2009 4:03am Oct 30, 2009 4:03am
Mer

Sorry to bombard you with questions but from my part theres a few things Id like to discuss when you have a min.

I want to deal with lot sizes,

I can see why you went for maximum lots sizes on the USDCAD, EURCAD, ie we are under 2/3 distance to our target and the target is an odd level.

Likewise I concur with the choices on everything else and the decision to go with small lots.

But the EURUSD does not have a lot of headroom to the next level and the level is even, so that would have meant to me be careful with this one.
Is it because it has a supporting candle pattern (Engulfing Bull).

So therefore do strong candle patterns overide the basic set up rules. Such as engulfing, pins, inside bars etc.

many thanks


ab1
  • #312
  • Oct 30, 2009 4:21am Oct 30, 2009 4:21am
I see that the n the mt4 stats there aren't the new trades of this night. Are you using a real account now?
  • #313
  • Oct 30, 2009 4:57am Oct 30, 2009 4:57am
Quoting Porkpie
Nice spreadsheet steve, do you have a spare one? (I am assuming it calculates automatically based on the manual input of the first 6 columns?). Cheers
Hi

I think you will find it in the attachments section of the thread.

cheers


ab1
  • #314
  • Oct 30, 2009 5:05am Oct 30, 2009 5:05am
Quoting ab1
Hi

I think you will find it in the attachments section of the thread.

cheers


ab1
Thanks. I looked earlier but must have skipped over it.
  • #315
  • Oct 30, 2009 5:12am Oct 30, 2009 5:12am
Quoting Porkpie
Thanks. I looked earlier but must have skipped over it.
Its on the 1st page, its only one of two excel documents in there, I think its called "Murrey calc"

cheers
  • #316
  • Oct 30, 2009 7:12am Oct 30, 2009 7:12am
As I noted last night, my broker (IBFX) has a different start time for their daily bar than Scott's broker. I've been cheating a little by doing my calculations and entering trades at the same time as Scott even though my own daily bars hadn't closed yet. I'm confident enough in my own analysis that I'm going to shift my analysis/trade time to the IBFX daily bar open; that's an hour later than Scott's broker.

I improved the calculator spreadsheet I've been using and attached it as well. The SL, TP, etc results are expressed in a whole number of pips now and I moved the lot size column to the left side (just cosmetic).

The lot size column isn't involved in the calculations at all. It's just there to give me a convenient place to put it after I've done my analysis.

Just enter the trade direction (long or short), the breached MM line value, the MM lines above and below it and the trade entry price. The result cells are then filled in. After you enter the trade, just enter the resulting values into the Stealth EA and fire it up.
Attached File(s)
File Type: xls murrey calc v2.xls   23 KB | 629 downloads
You are in a maze of twisty little passages, all alike.
  • #317
  • Oct 30, 2009 7:25am Oct 30, 2009 7:25am
Hi!

Great strategy with impressive results!
One thing I don't understand is how people can be making their calculations at different times?
The market doesn't adjust itself according to what broker you use!
If we want to replicate Scotts results I believe we should at least be using the same start time (23.00GMT) if not the same broker.
It cost nothing to download the collective fx demo and use it to make the calculations.. we can still place trades in our regular accounts.
Just my opinion, thanks
  • #318
  • Oct 30, 2009 7:25am Oct 30, 2009 7:25am
Quote
So, one question.....I have six trades open, so am I right in saying that I only close any bad ones at 0:00 tonight. What I mean by that is any that close above/below the Murrey level that I opened with are considered bad.
you only close bad trades if the breach back over the original Murrey level and close, otherwise the trade is held.

Quote
I see in your trades last night that your TS is half of your Breakeven Shift, Ive adjusted mine accordingly, but in your opening instructions on how to use the system you suggest making that the same as the breakeven shift.

Any reason why you changed that or was that an error
That is an error, you can make it whatever size you want, I prefer 1/2 of the BES.

Quote
But the EURUSD does not have a lot of headroom to the next level and the level is even, so that would have meant to me be careful with this one.
Is it because it has a supporting candle pattern (Engulfing Bull).

So therefore do strong candle patterns overide the basic set up rules. Such as engulfing, pins, inside bars etc.
Read post #269 again. I say at the end:

"Armed with this additional information, if this setup holds true I can then determine if I would like to use a larger lot size here, even though, according to the strategy rules, we generally use lower lots through the 5/8."

If is the key word. I decided to use larger lots, that doesn't mean you have to. I don't think your grasping the concept of trading this strategy your own way. Just because I trade it a certain way is not the same as the way you would trade it. You need to develop your own patterns of trading and make you own conclusions on what the charts tell you.

Quote
I see that the n the mt4 stats there aren't the new trades of this night. Are you using a real account now?
olachico, MT4Stats is down temporarily. I've put it back on MT4lLive for now.

Quote
Hi!

Great strategy with impressive results!
One thing I don't understand is how people can be making their calculations at different times?
The market doesn't adjust itself according to what broker you use!
If we want to replicate Scotts results I believe we should at least be using the same start time (23.00GMT) if not the same broker.
It cost nothing to download the collective fx demo and use it to make the calculations.. we can still place trades in our regular accounts.
Just my opinion, thanks
I can't force anyone to use my broker, which is okay. Everyone just need to make sure that you use the 00:00 bar of your broker. Yes, the results may differ, but the concept is still the same.

And thanks Steve for the updated spreadsheet. I'll be loading this up on Sunday to see how it works out.
  • #319
  • Oct 30, 2009 7:49am Oct 30, 2009 7:49am
Here's a good example of a different brokers data. Notice on the FXDD demo we would not have even been in this trade. It goes to show that different brokers may yield you much different results.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: trade.gif Size: 55 KB
Click to Enlarge Name: trade2.gif Size: 52 KB
  • #320
  • Oct 30, 2009 10:52am Oct 30, 2009 10:52am
Just to be clear on the time to enter a trade. In post #288 you state GMT is the correct time to enter after the MML breach and then in post #292 you say that the trade or rather the line breach should be at your broker's 00:00 time. I believe that I have seen GMT mentioned in a couple of other places in this thread as well. Please clarify.

Also, in post #286 ab1 had asked about the large numbers that show in the lower left hand corner but I do not see the answer, did I miss it?
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