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Murrey Math Daily System

  • #461
  • Nov 15, 2009 1:58pm Nov 15, 2009 1:58pm
Greetings Mer, the weekend is over so back to work again. We don’t seem to be getting our thoughts across to one another clearly. I wrote to say that I had in effect superimposed Murrey Math indicators on the same chart (post 453 with chart attached to post 454) and had lines of different value.
Your reply was -
“ With all the different ways that a coder can tweak an indicator, it's possible you could have 10 different Murrey Math indicators, and they could show completely different results, no matter if they're on the same platform or not.”
I wrote to say that to me that seemed a bit odd and added the following –
“You are using the results of A's formula, I am using B's and Tom, Dick and Harry are using C,D and E's. We are all using the same broker and the same charts and therefore the same data but we all will have different lines on our charts.”
Your answer was -
Post 458
“If you are having different lines using the same broker, then something is wrong with your settings, otherwise it should be exactly the same.”
My reading of all that is that you are telling me I can have lines of different value on exactly the same chart from the same broker and then that I can’t
  • #462
  • Nov 15, 2009 10:41pm Nov 15, 2009 10:41pm
Quote
Greetings Mer, the weekend is over so back to work again. We don’t seem to be getting our thoughts across to one another clearly. I wrote to say that I had in effect superimposed Murrey Math indicators on the same chart (post 453 with chart attached to post 454) and had lines of different value.
The problem is you are comparing apples and oranges. In post #454, you are trying to compare two different indicators and expecting the same results.

Quote
My reading of all that is that you are telling me I can have lines of different value on exactly the same chart from the same broker and then that I can’t
What I'm saying is if you are on the exact same platform and using the exact same indicator I use, you should see exactly what I see. If you use a different broker with the same Murrey Math indicator I use or a different Murrey Math Indicator on the same broker I use, you can and probably will see different results.

What I would like to see you do is put the Murrey Indicator from the zip file in the first post on a demo from the Collective FX and post a pic of any chart and then I'll post up the same chart and we'll see how they compare. This way you'll understand that to see what I'm trading and what setups I take, you'll need to have the same tools.


  • #463
  • Nov 16, 2009 12:44am Nov 16, 2009 12:44am
Quoting mer071898
The problem is you are comparing apples and oranges. In post #454, you are trying to compare two different indicators and expecting the same results.

What I'm saying is if you are on the exact same platform and using the exact same indicator I use, you should see exactly what I see. If you use a different broker with the same Murrey Math indicator I use or a different Murrey Math Indicator on the same broker I use, you can and probably will see different results.

What I would like to see you do is put the Murrey Indicator from...
I was going to open my own thread with the 1 hour but seeing what mer is going throught with the bull crap, I think I will pass....
  • #464
  • Nov 16, 2009 5:27am Nov 16, 2009 5:27am
Quote
I was going to open my own thread with the 1 hour but seeing what mer is going throught with the bull crap, I think I will pass....

fed, don't let anything that goes on here distract or discourage you from posting your system, especially if it's a profitable one. One of the inevitable things you'll always have to deal with in these forums are repeat questions, ignorant responses, bad attitudes, and people wanting to change everything on you. I don't mind helping everyone up to a point, but I do have limits. All I'm asking people to do is research before asking all sorts of basic questions that have been answered already. Then, if you still having issues, will figure out the issues.
  • #465
  • Nov 16, 2009 8:07am Nov 16, 2009 8:07am
Hi,

I would just like to say thank you to Mer for putting his systems out here for us to look at. Ever since I found the MML indicator I had looked for a way to trade it. He has done all the hard work for me.

Fed please post your own thread with your 1 hour system. I am very curious to see it also. I have been waiting patiently I have been looking for a way to trade the MML on a shorter time frame.

I think an issue Mer is having is one most thread starters have. People want it all. They want a system where they do not have to think that makes them lots of money. Unfortunately every system has some part of it that requires some form of discretion from the trader, even if it is subconscious from trading experience.

Once again I want to say thanks to Mer this system and the London Progressive are both outstanding, and Fed please go forward with posting your method on your thread.
  • #466
  • Nov 16, 2009 9:39am Nov 16, 2009 9:39am
Quoting fed
I was going to open my own thread with the 1 hour but seeing what mer is going throught with the bull crap, I think I will pass....
Fed, don't let such things discourage you. I have been following your 2-5 GMT breakout system, and I would love to hear about your new 1hr system.
  • #467
  • Nov 16, 2009 2:07pm Nov 16, 2009 2:07pm
ok ok, I will post it, I like helping people anyway, but I need some more time, so far so good for the last 2 weeks I have made 3600 pips, this week it is a bad start with few loses but I did cought up with buy gbp/usd and it is still early of the week, I have time to make some pips. The most I like about this strategy is that I don't take more than 1-2 trades per pair a week and plus even I am working full time, and I am still able to trade with this strategy. Right now I am trying to overcome the situation best deal with where the lines will be recalcualted depends on the price movement on that particular pair. I noticed that the lines will not change every day, for the last 2 weeks MM lines changed couple of times on only few pairs which is great that means the lines will remain the same for a long time.

Anyway probably another few weeks with great results the I will feel more confi to take some more risk as I am trading with smaller lots right now and then I can have something to present to you guys here.
  • #468
  • Nov 16, 2009 3:49pm Nov 16, 2009 3:49pm
That is great Fed. Have you signed up for fxbook or any other service so we could keep track of your trades ?
  • #469
  • Edited Nov 20, 2009 12:31pm Nov 19, 2009 6:32pm | Edited Nov 20, 2009 12:31pm
Just wanted to let everyone know that I am reverting back to the original strategy and cutting down to 7 pairs. I be changing back to MT4Stats.com as well as I wasn't too impressed with MyFxBook.com and will will make the changes in post #1. I am also going to try a lot sequence that was suggested by one of the traders I know who uses a lot of martingale techniques and we'll see how that works out.
  • #470
  • Nov 20, 2009 7:50am Nov 20, 2009 7:50am
Quoting mer071898
Just wanted to let everyone know that I am reverting back to the original strategy and cutting back down to 12 pairs. I be changing back to MT4Stats.com as well as I wasn't too impressed with MyFxBook.com and will will make the changes in post #1. I am also going to try a lot sequence that was suggested by one of the traders I know who uses a lot of martingale techniques and we'll see how that works out.
So with your testing, you've seen that the original method of closing out a bad trade if it reverses and closes beyond the original breached murrey level, is more profitable? That along with the combination of the BE take profit? I know this past 1.5 weeks, my demo account has been taking some larger losses but it's too soon for me to tell how long it's going to take to recoup those losses. As always, thanks for the feedback and continuing to try and improve this system!
  • #471
  • Nov 20, 2009 12:18pm Nov 20, 2009 12:18pm
I might actually try mixing the two strategies together where I still use the Stealth V.2 from the first strategy but let the trade run until is closes out in profit or loss (instead of closing the trade and opening a new one on a reversal) from strategy 2. This way we will get profit quicker, but not be stuck in that rut of putting in trade after trade when the candle teeters on the Murrey Lines for several days in a row. I will be doing some deep thought over the weekend on using the two mixed together.
  • #472
  • Nov 22, 2009 12:05am Nov 22, 2009 12:05am
Quoting fed
ok ok, I will post it, I like helping people anyway, but I need some more time, so far so good for the last 2 weeks I have made 3600 pips, this week it is a bad start with few loses but I did cought up with buy gbp/usd and it is still early of the week, I have time to make some pips. The most I like about this strategy is that I don't take more than 1-2 trades per pair a week and plus even I am working full time, and I am still able to trade with this strategy. Right now I am trying to overcome the situation best deal with where the lines will be...
Hello friend, I been followed this thread quite some time. I still testing in lower time frame in 1HR with the MM60. Are you using the MM60? By the way, what is your strategy in this 1HR
  • #473
  • Nov 24, 2009 7:51am Nov 24, 2009 7:51am
GBPUSD triiped the 1.6601 MM line for a buy signal but I hesitated because it was still in a downward trend. EURJPY showed the same thing. Your thoughts?
  • #474
  • Nov 27, 2009 8:01am Nov 27, 2009 8:01am
hello
where is everybody?
  • #475
  • Nov 28, 2009 12:46pm Nov 28, 2009 12:46pm
They lost all their money and went back to their jobs.
  • #476
  • Nov 29, 2009 10:16am Nov 29, 2009 10:16am
Quoting mtftrade
They lost all their money and went back to their jobs.
If you believe that one, then why are you following this thread?
  • #477
  • Nov 29, 2009 2:36pm Nov 29, 2009 2:36pm
Quote
They lost all their money and went back to their jobs.

Typical response from a newbie with a whopping 6 posts to his credit.
  • #478
  • Nov 30, 2009 12:44am Nov 30, 2009 12:44am
You should give credit to someone who is in the game with the least amount of time. The longer you play a game with negative expectancy the greater the chance of you giving all your money away. It's better to win a little and walk away than to get drunk on the thought of a consistant winning strat and forfeit your hard earned money.
  • #479
  • Nov 30, 2009 8:03pm Nov 30, 2009 8:03pm
Actually I still trade this system with my own lil twist. I have been profitable since trading this live on my oanda acct. I still trade 21 currencies out of the 24 Mer071898 posted earlier.
  • #480
  • Dec 7, 2009 8:12pm Dec 7, 2009 8:12pm
Here is a useful tidbit for you guys I just found, might help to filter out or scale down some trades which have a higher probability of reversal:

If Price Moves By: The probability of reversal is:
(1 x mMMI) + (4 x bMMI) 50%
(2 x mMMI) 75%
(3 x mMMI) 85%
(4 x mMMI) 90%
(5 x mMMI) 95%
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