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Murrey Math Daily System

  • #501
  • Aug 3, 2010 3:50pm Aug 3, 2010 3:50pm
Quoting okehiedon
Giuys are making profits with it thats why
Thanks for reply.

How has it been with you using this strategy?
  • #502
  • Aug 12, 2010 5:04pm Aug 12, 2010 5:04pm
for MML_Multi_Option indicator posted above, what is the difference between 'P' and 'MMPeriod' parameters?
  • #503
  • Edited 4:10pm Aug 13, 2010 3:38pm | Edited 4:10pm
I was trying to look at similar strategy but at lower time frame.

I was watching One Hr time frame of EURUSD pair during both London and NY time that is from 8:00 till 22:00 GMT.

My observations are as follows:

(1) Ignore first candle of 8:00.
(2) When price BREACHES any Murrey Levels, get in with the same direction and target will be the next Murrey Level.
(3) If the case is repeated again when price breaches another Murrey Level, get in with the same direction, however, target here will be mid line but not the next Murrey Level since I believe pair is loosing momentum even though I see some case where pair made it to the next Murrey Level.

It is in principle similar to original daily time frame but now customized to 1 Hr time frame. It needs definitely further testing.

http://www.m5zn.com/uploads/2010/8/1...qg9fib5fnv.gif
  • #504
  • Aug 14, 2010 6:27am Aug 14, 2010 6:27am
Quoting mostashar15

My observations are as follows:

(1) Ignore first candle of 8:00.
(2) When price BREACHES any Murrey Levels, get in with the same direction and target will be the next Murrey Level.
(3) If the case is repeated again when price breaches another Murrey Level, get in with the same direction, however, target here will be mid line but not the next Murrey Level since I believe pair is loosing momentum even though I see some case where pair made it to the next Murrey Level.
Very interesting. Seems like your mid-line strategy is working(at least on this example). The obvious benefit is a higher trade-frequency, which is OK, providing that the results are the same, or better, than the original strategy. I've been doing well with my D1 charts, but I think I will start looking at H1 and see if your modification proves profitable. Thanks for the input.

Rob
  • #505
  • Aug 14, 2010 3:44pm Aug 14, 2010 3:44pm
Quoting ChicagoRob
Very interesting. Seems like your mid-line strategy is working(at least on this example). The obvious benefit is a higher trade-frequency, which is OK, providing that the results are the same, or better, than the original strategy. I've been doing well with my D1 charts, but I think I will start looking at H1 and see if your modification proves profitable. Thanks for the input.

Rob
Thanks for dropping by. Nice to see somebody testing as well with different broker. I am using FXCM Demo, what about you?
  • #506
  • Aug 14, 2010 4:40pm Aug 14, 2010 4:40pm
Quoting mostashar15
Thanks for dropping by. Nice to see somebody testing as well with different broker. I am using FXCM Demo, what about you?
Hey mostashar15, good to hear from you. I've been running the MM strategy
for a couple of weeks. I just recently went live and all of my trades have been winners(I'm sure that will change soon enough).

I'm using IBFX and have had no issues, whatsoever. I'm running 16 charts on D1 and only pick trades that are in overshoot territory. Let's keep this thread alive.

Rob
  • #507
  • Aug 14, 2010 6:23pm Aug 14, 2010 6:23pm
Usd/Jpy, when mkt. reopens. TP 93.75
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Vincit qui se vincit.
  • #508
  • Aug 14, 2010 6:29pm Aug 14, 2010 6:29pm
Gbp/Usd. TP 1.4648
Attached Image (click to enlarge)
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Vincit qui se vincit.
  • #509
  • Aug 15, 2010 2:22am Aug 15, 2010 2:22am
Quoting ChicagoRob
Hey mostashar15, good to hear from you. I've been running the MM strategy
for a couple of weeks. I just recently went live and all of my trades have been winners(I'm sure that will change soon enough).

I'm using IBFX and have had no issues, whatsoever. I'm running 16 charts on D1 and only pick trades that are in overshoot territory. Let's keep this thread alive.

Rob
co0o0o0o0l

Nice to hear somebody is going live with this strategy and making money out of it.
Are you gonna post your new trades in here?
Wish you all the pips
  • #510
  • Aug 15, 2010 5:50am Aug 15, 2010 5:50am
Quoting mostashar15
co0o0o0o0l

Nice to hear somebody is going live with this strategy and making money out of it.
Are you gonna post your new trades in here?
Wish you all the pips
I will try sending a screen grab tomorrow of the three winners, and hopefully some good potential setups. I've been using Stealth v2 to
manage the trades. Don't know, yet, if it's the best approach, but I'm
going to stay with it for the time being.

Rob
  • #511
  • Aug 15, 2010 1:01pm Aug 15, 2010 1:01pm
Quoting Pippopotamus
Usd/Jpy, when mkt. reopens. TP 93.75
On H4, I don't see an entry, yet. If it did meet the requirement of straddling the MM line, I see TP of 86.71(not 93.75)at the 6/8 MM line.

Rob
  • #512
  • Aug 15, 2010 1:14pm Aug 15, 2010 1:14pm
Quoting Pippopotamus
Gbp/Usd. TP 1.4648
On H4, with price between 0/8 and -1/8, I see a long trade setting up, not a short.

Rob
  • #513
  • Aug 15, 2010 2:30pm Aug 15, 2010 2:30pm
Quoting ChicagoRob
On H4, I don't see an entry, yet. If it did meet the requirement of straddling the MM line, I see TP of 86.71(not 93.75)at the 6/8 MM line.

Rob
For me, if you look @ daily chart of USDJPY, you will see that candle of 12, Aug. 2010, has breached up -1/8 level which is an entry signal as per original strategy.

However, USDJPY is on a downtrend and you should be careful when riding against the trend. I would put my TP as 86.719 which is the mid-way to 0/8 Murrey level.
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  • #514
  • Aug 16, 2010 3:45am Aug 16, 2010 3:45am
I see a chance coming on EURUSD 1Hr time frame.

If the current 9:00 candle closes below 3/8 (1.27869), then this is a SHORT entry signal. TP = 2/8 (1.27563) and SL = 4/8 (1.28174)

http://www.m5zn.com/uploads/2010/8/1...sh2cv9jckl.gif
  • #515
  • Aug 16, 2010 7:00am Aug 16, 2010 7:00am
EURUSD is not making any entry signals even though it is so volatile.

Now, it looks it is approaching 4/8 line, we will wait for the close of next hours. Ohh this is very hard 30 pips to get

http://www.m5zn.com/uploads/2010/8/1...h13tsi1jx8.gif
  • #516
  • Edited 9:03am Aug 16, 2010 8:00am | Edited 9:03am
Quoting ChicagoRob
On H4, I don't see an entry, yet. If it did meet the requirement of straddling the MM line, I see TP of 86.71(not 93.75)at the 6/8 MM line.

Rob
I have D1 MM lines on H4 chart. I use Heiken Ashi candles to show trend strength/weakness. I do not enter until I see trend weakening. I am short G/U. U/J entry stop, just above H of 8/13, has not been hit yet. EDIT: I will be targeting 2/8, and 6/8 levels rather than 4/8.
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Vincit qui se vincit.
  • #517
  • Aug 16, 2010 9:14am Aug 16, 2010 9:14am
[email protected]...
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Vincit qui se vincit.
  • #518
  • Aug 16, 2010 9:43am Aug 16, 2010 9:43am
Quoting Pippopotamus
I have D1 MM lines on H4 chart.
Why are you putting a D1 grid on a H4 chart?
  • #519
  • Aug 16, 2010 9:58am Aug 16, 2010 9:58am
Quoting ChicagoRob
Why are you putting a D1 grid on a H4 chart?
I think it helps me see the market turns better. Want to see 2 consecutive H4 candles reverse before making initial entry. Have been short G/U since 8/[email protected]. S/L just above +2/8 level. I don't hold over weekends. Re-enter when mkt. opens new week.
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Vincit qui se vincit.
  • #520
  • Aug 17, 2010 3:18am Aug 17, 2010 3:18am
Quoting mer071898
Here is my new system which involves using Murrey Math Levels on a Daily timeframe.

If you don't understand how Murrey levels work, you can read up on it below to get a rough understanding of what they are and how price reacts around them.

Murrey Math



[left][size=2]The basic concept of my strategy is to use the break of a Murrey Level to enter our trades and pick our targets. I have added the indicators, template, and two versions of a Trade Management...

what has been your success rate so far ?
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