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Trading using Murray Maths and Price Action

  • #2,081
  • May 22, 2010 5:40am May 22, 2010 5:40am
Was afraid u would say that.
  • #2,082
  • May 22, 2010 8:10am May 22, 2010 8:10am
Quoting steroidman
Was afraid u would say that.
well thats the only way to learn...forex is hard work....need to always keep learning....u never know...u might pick bits and pieces along the way which are very very useful and u would incorporate them in ur trading strategy without u realising it....thats how i learnt trading and am still learning....even though i manage funds successfully...knowledge is never ending..
  • #2,083
  • May 22, 2010 9:47am May 22, 2010 9:47am
I used to trade Fx for years and Murrey was a great tool for that esp with correlations with Fibs and E Wave counts. Since switching to Futures Commodities/Indexes 8 months ago I find it even better and faster albeit using it differently than originally intended, intraday trading.
Wish I had looked at Futures years ago, hindsight.. FX was the "college".
Seems the Base Ten can have value even on a 5/15 min application when using PA, clean simple chart.
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  • #2,084
  • May 22, 2010 12:42pm May 22, 2010 12:42pm
Quoting rsonic
I used to trade Fx for years and Murrey was a great tool for that esp with correlations with Fibs and E Wave counts. Since switching to Futures Commodities/Indexes 8 months ago I find it even better and faster albeit using it differently than originally intended, intraday trading.
Wish I had looked at Futures years ago, hindsight.. FX was the "college".
Seems the Base Ten can have value even on a 5/15 min application when using PA, clean simple chart.
this is very interesting...where do u trade the futures??
  • #2,085
  • May 22, 2010 1:06pm May 22, 2010 1:06pm
Hello Karthik

Read almost all of your posts on this tread..

Have a short probably already answerd question ...100% answerd but cannot understand..maybe coos english is not my native language.

You siad that MM lines you use on 60 min chart?!

And enter a trade based on 15 min and 5 min conformations?!

What doeas it mean...

Youe MM lines on 15 min and 5 min are 60 TF ..you dont have 1h chart open in front of you...just 15 min and 5 min but MM lines are

MM PERIOD 60

That means you trade 60 min chart or ?!

Please inlight me with that

Reagrds

I do that way...have 15 min and 5 min in front of me with MM lines set to MM PERIOD 60...and dont look at 1h chart

What do you think about seeting those MM line to PERIOD 120 or 240?!
Work smart not hard
  • #2,086
  • May 24, 2010 3:54am May 24, 2010 3:54am
karthik,

i wanted to ask if u ever tried to use MM time lines in addtion to price level lines, and if so what do u think of them?

thanks
  • #2,087
  • May 28, 2010 11:40am May 28, 2010 11:40am
hi karthnik, thanks to your trading sys, i got 60 pips worth of profits though i was aiming for 50, using your system, its quite scary tt it suddenly became so volatile, do u know why??

thank you for your time
  • #2,088
  • May 31, 2010 2:40pm May 31, 2010 2:40pm
ns_karthik

starting to read at page 7 still dont get how you trade also the calls u made there are old now so they are hard to follow.

You have stoploss and target the MM lines taget next mm line and stop the line before on 1 hour thats around 30 pips stop and target on 1h e u.


what do u mean that support and resistance the mm lines has broken is it when price close about it in a uptrend or just when price go thrue it ?


best regards
  • #2,089
  • Jun 1, 2010 8:19am Jun 1, 2010 8:19am
Hi karthik, thank you for your thread, learnt alot alot, btw, how do you make so many pips since ur actually scalping? u enter on 4hr 1 hr MML SR and determine entry in 5min TF, how long do u hold on to ur trade then? so can i say for 5min TF u gauge purely on price action? Hope to hear form u soon

appreciate you reading this,
Bethel
  • #2,090
  • Jun 1, 2010 10:03am Jun 1, 2010 10:03am
Quoting ns_karthik
there is another indicator posted somewhere in this thread, which plots 1H SR in 5M charts...

apparently, it shows the same MML on 4hrly n 1hrly and when u switch to 5min, it remains the same as karthik has said, but it seem to change when i switch from the hrly to daily, as in the MML levels changed when i do tt...i thought it will remain as the hrly MML all the time?
  • #2,091
  • Jun 1, 2010 10:20am Jun 1, 2010 10:20am
Quoting smjones
Here I will post it one more time, but it is on the thread already. I just went and found it. Took me 43seconds.
wad u found is the 3rd MM indicator posted in this thread, previously there was another one which also states tt they can show hrly MML on the 5min chart, which is true but i posted some questions with regard to tt indicator.

With regards to this 3rd MM indicator, something seems to be wrong with this indicator, no doubt if i add it on the hrly, n switch to 5min, the MML remains, but the MML changes when i add onto 4hrly comparing using this indicator to karthik's very 1st MML indicator #MurreyMath, it is different.

I believe it is safer to just use the one Karthik posted initially and manually shift to 5min to c price action on entry?

Thank you for reading, hope to learn more

Happy pipping!
Bethel
  • #2,092
  • Jun 2, 2010 4:41am Jun 2, 2010 4:41am
Fellow traders, so far in this thread, we have 3 indicators on murrey math, pardon my constant posting, i really have questions n hope to learn from your advice =) anyway, the 3 indicators we have are #murreymath posted by karthik, the nxt one is murrey math VG, and the 3d one is the murrey math_X_eng.

The settings for the 1st 2 are the same, but apparently the width for the 3rd one is all 2, (if you look under inputs of the indicators n test them out on time frames side by side, you will see the difference). (Inputs shown for the 2nd indicator has 3s and 2s.)

Anyway, im using the 2nd one as well as the 1st one. the 2nd one has the function of seeing 1hrly SR on 5 min charts.

SO the question is which is the right one? If karthik's one is correct then the 2nd one is right n the 3rd one is abit diff,(i wun say problematic, =) cos im not sure)

yup, hope to hear from u experts soon!
i really feel as if im spamming...

Bethel
  • #2,093
  • Jun 2, 2010 5:46am Jun 2, 2010 5:46am
sorry i think i made a mistake, apparently all 3 indicators do not show the hrly mml on 5min chart, dunno wads going on, so i jus revert back to using karthik's indicator given 1st at the start of this thread.

i use the 3 indicators on hrly and this is wad i get according to the PA at 6:43pm, 1st near 4/8, 2nd indicator near 0/8, 3rd indicator near 4/8, n when i change the same chart to 5min frame, the hrly mml changes accordingly...yup, whew, thank god i clarify here, ignore previous post.
  • #2,094
  • Jun 2, 2010 6:03am Jun 2, 2010 6:03am
something is wrong, the 2nd indicator MMlevls VG seem to be able to imprint hrly mml on 5min charts this time....weird...wads going on, someone please help ~~~~~~~~~
  • #2,095
  • Jun 3, 2010 12:41am Jun 3, 2010 12:41am
Bethel,
As promised here is the MM indicator that i use...
Attached File(s)
File Type: mq4 MML_Multi_Option_v1.24.mq4   28 KB | 1,518 downloads
  • #2,096
  • Edited 11:28am Jun 3, 2010 11:10am | Edited 11:28am
Quoting ns_karthik
Bethel,
As promised here is the MM indicator that i use...
thank you karthik, i hope i'll be savvy with MML n PA n become a trader like u, thanks for the thread!

Bethel

btw, i realise this new indicator is different from the very 1st one u uploaded on this thread? the #MM indicator, is there a reason for the tweak?
  • #2,097
  • Jun 3, 2010 12:12pm Jun 3, 2010 12:12pm
Quoting malcolmb14
idea....
it seems that the 0/8 lines often bounce 4 octaves ..... so if you stops are 1 octave you should have ratio of 4 losses to one win , you can be wrong 60 % of time and not blow account up
hi malcolmb, can explain this somemore? dun really understand , thanks!!!
  • #2,098
  • Jun 4, 2010 9:47am Jun 4, 2010 9:47am
Quoting fontu
Looking forward for the deadly combination . Yesterday me also read from VSA thread , good & interesting information indeed and may work for many instances but world money exchanges should not full of greedy market makers bigger fishes catches prey the smaller ones & much bigger ones must do the same wiyth big fishes . Nobody can eat succesfully all the times too ,indigestion certainly happen at times. In respect of volume accumulation at low prices may not always end in higher prices ,they may fail with certain condition of economic bad news &...

Hi fontu, what do you mean by seeing 15min to see all in one, so whats so special about the 15min tf?
thanks!

Bethel
  • #2,099
  • Jun 4, 2010 10:00am Jun 4, 2010 10:00am
Quoting jcau
After looking at the H4 trend, I just realized that I trade against the trend. Thanks. Learn something again from you
hi malcomb, what if after analysing volume n pa, the 4 hr uptrend (bigger tf) seems to die off? do we see w a bear perspective or cont with the trend?

thank you for your professional advice.

Bethel

ps: i ask this question because on UJ it seems like the trend is changing
  • #2,100
  • Jun 4, 2010 12:34pm Jun 4, 2010 12:34pm
Quoting ns_karthik
Bethel,
As promised here is the MM indicator that i use...
Here is the indicator with the mm lines in the background...

All the best

Xard777
Attached File(s)
File Type: mq4 mml v1.24.mq4   28 KB | 1,696 downloads
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