Murrey Math Daily System | Page 18 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Murrey Math indicator is very useful in Forex 69 replies

Murrey Math lines 6 replies

Daily Murrey Math settings 0 replies

Daily/Weekly Murrey Math 7 replies

Murrey math trading 1 reply

Attachments: Murrey Math Daily System
Exit Attachments

Murrey Math Daily System

  • #341
  • Oct 31, 2009 11:11pm Oct 31, 2009 11:11pm
Quoting wh1zz0
80/20 Rule in action
Hi

Hows that ? all mine ended in losers ?

What pairs and signals did you go with....I must not be getting this.....

many thanks



ab1
  • #342
  • Nov 1, 2009 6:57am Nov 1, 2009 6:57am
Quoting hello
All,

GbpUsd Analysis UP?

Anyone else?
GBPUSD reversed when it hit the 8/8 line. Since Friday's Daily candle closed just below the 7/8 line, you should enter a sell and target the 6/8 line.
  • #343
  • Nov 1, 2009 12:22pm Nov 1, 2009 12:22pm
Quoting kellera6
GBPUSD reversed when it hit the 8/8 line. Since Friday's Daily candle closed just below the 7/8 line, you should enter a sell and target the 6/8 line.
Hi

So pretty much then, reverse all the trades from Thursday night !...

ab1
  • #344
  • Nov 1, 2009 2:38pm Nov 1, 2009 2:38pm
Quoting kellera6
GBPUSD reversed when it hit the 8/8 line. Since Friday's Daily candle closed just below the 7/8 line, you should enter a sell and target the 6/8 line.
Correct! i'm not taking a short til a full one hour candle closes below the blue trendline on the 1hr chart.
  • #345
  • Nov 1, 2009 2:41pm Nov 1, 2009 2:41pm
Quoting ab1
Hi

Hows that ? all mine ended in losers ?

What pairs and signals did you go with....I must not be getting this.....

many thanks

ab1
It was the thread starter who made 17k. I only commented on his ability to use the rule 80/20 quite well.
  • #346
  • Nov 1, 2009 3:08pm Nov 1, 2009 3:08pm
Hey guys, I hope everyone, including myself, has taken their beating like a man from Friday. Again, we will have to just drive on because we can and will get this back, don't worry.

Quote
Hi

Hows that ? all mine ended in losers ?

What pairs and signals did you go with....I must not be getting this.....

many thanks

ab1

Those were from Wednesday, not Friday.
  • #347
  • Nov 1, 2009 3:09pm Nov 1, 2009 3:09pm
Quoting mer071898
Hey guys, I hope everyone, including myself, has taken their beating like a man from Friday. Again, we will have to just drive on because we can and will get this back, don't worry.
Hey Mer,

Took my beating. Ready to make it bad this week!
  • #348
  • Nov 1, 2009 3:13pm Nov 1, 2009 3:13pm
I have reversed two of my trades, The Eur/Usd and the Gbp/Usd, because the gap was very small. I will wait and see if the gaps close back on the rest of the pairs.
  • #349
  • Nov 1, 2009 3:54pm Nov 1, 2009 3:54pm
I couldn't close out at daily candle close on Friday due to trading stopping 4 hours earlier than that. I'm looking to close and re-start in a few hours though.
You are in a maze of twisty little passages, all alike.
  • #350
  • Nov 1, 2009 4:40pm Nov 1, 2009 4:40pm
Already got back $1824.00 with 46 pips using 4 lots on Gbp/Usd. Hopefully Eur/Usd will follow along.
  • #351
  • Nov 1, 2009 4:49pm Nov 1, 2009 4:49pm
Quoting mer071898
I have reversed two of my trades, The Eur/Usd and the Gbp/Usd, because the gap was very small. I will wait and see if the gaps close back on the rest of the pairs.
So we should stay away from GBPJPY short because the gap down was pretty big.
  • #352
  • Nov 1, 2009 4:52pm Nov 1, 2009 4:52pm
If things stay the same, these will be my new trades:

Gbp/Usd
Eur/Jpy
Gbp/Jpy

Eur/Usd i took on the Sunday open is still active.

And I might go ahead a take Gbp/Chf as we are bouncing off a 38.2 fib and a 38.2 extension from the upswing. There were too many pairs which have gapped over the Murrey Level which I will pass on because there is a high probability of the gap being filled.
  • #353
  • Nov 1, 2009 4:56pm Nov 1, 2009 4:56pm
Quote
So we should stay away from GBPJPY short because the gap down was pretty big.
That's a tough call as there is a big gap, but we are also still breaching a Murrey Level. I have a loss on the last trade, so if it breaches, I will take my normal entry with a double up of 12 lots.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 54 KB
  • #354
  • Nov 1, 2009 5:04pm Nov 1, 2009 5:04pm
Well, it looks like everything pulled back before the candle opened, so I will hold off on any entries except for my active Eur/Usd.
  • #355
  • Nov 1, 2009 5:08pm Nov 1, 2009 5:08pm
I'm starting to think that those of us trading with fixed spread brokers like IBFX need to adjust some of the rules to do this. Trading just opened after closing late Friday afternoon.

For starters I don't think we can trade every day like Scott can on the collective. Sunday's daily bar just opened but will close in less than an hour when GMT midnight occurs. So this bar isn't really valid for MM trading. So maybe Monday night makes sense to start and Thursday night you close out for the week. That's 4 days of trading.
You are in a maze of twisty little passages, all alike.
  • #356
  • Nov 1, 2009 5:15pm Nov 1, 2009 5:15pm
Quoting mer071898
Well, it looks like everything pulled back before the candle opened, so I will hold off on any entries except for my active Eur/Usd.
What normally happens once the gap is filled? Is it too unpredictable?
  • #357
  • Nov 1, 2009 7:54pm Nov 1, 2009 7:54pm
Quote
What normally happens once the gap is filled? Is it too unpredictable?
Well first off kellera6, Forex is unpredictable, period. It doesn't matter if your talking about gaps or fibs or whatever you choose. With regards to gaps, in my experiences, 80-90% of the time the gap will fill at least 90% of the way. The only thing you can do is be patient and watch if the gap fills, and I mean IF, and make your decision at the Sunday close for entering new trades. I'll tell you what, if you look at the charts, every pair tonight that I watch has already filled the gap, pretty cool huh? I actually do gap trading as well, but that's a whole other thread.

Quote
So maybe Monday night makes sense to start and Thursday night you close out for the week. That's 4 days of trading.
I gotta admit, stevegee58 makes a valid point that may help some of you. Since I have had a lot of experience trading over the weekend playing off the Sunday candles, it doesn't affect me as much because I know what to look for and how to handle most situations. But to those who would like a more stable trading plan, I would definately suggest following the Monday to Thursday plan. There's less risk from the gaps and less risk of not being able to close out trades late on Fridays. With less trading time you could increase the number of pairs that you watch which would increase the trading opportunities.
  • #358
  • Nov 2, 2009 9:11am Nov 2, 2009 9:11am
Hello thread followers,
attached is an excel sheet I made to comfort me. Wanted to share, hopefully my description is self explanatory, though English's not my native language.
Feel free to ask questions - after you played with it a while.
Also, if you find flaws or bugs, please tell me.

This post contains the sheet, the next the explanations.

Greetings from Greece
Freewheelin Franklin
Attached File(s)
File Type: xls TRADING - SHEET 2.xls   83 KB | 489 downloads
42
  • #359
  • Nov 2, 2009 9:21am Nov 2, 2009 9:21am
the explanations - attached.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Explain Trading Sheet.jpg Size: 241 KB
Click to Enlarge Name: further explanation.jpg Size: 93 KB
42
  • #360
  • Nov 2, 2009 11:21am Nov 2, 2009 11:21am
Freewheelin, thanks for the trade sheet, I like the visual scan to be able to quickly determine my trades for the day. However am having trouble opening the file, it shows it to be excel but when I download it comes as an unsuported php. Is there another way to attach the file? Thanks for your help.
0 traders viewing now