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Trading using Murray Maths and Price Action

  • #2,121
  • Aug 9, 2010 6:14pm Aug 9, 2010 6:14pm
I finally found a Murray Math indicator someone had written up for my platform
Got to love google haha

The default setting was for 64 periods with each period being 60 minutes
Is that what you guys normally go with?
Seems to be a pretty good setting.

Those lines lined up within a pip or 2 of other S/R lines i'd put in by hand
  • #2,122
  • Aug 9, 2010 7:15pm Aug 9, 2010 7:15pm
Does this thread still get used. I just discovered MM over the weekend reading the thread. It is wonderful stuff. I am trying MM out now (demo account) and using the techniques that have been outlined in this thread but I am taking a pounding. I would love to chat regarding this method.
  • #2,123
  • Aug 10, 2010 6:42am Aug 10, 2010 6:42am
I am very sure MM is a dynamic calulation. Which means if the one you are using is fixed it may not work right. I have only seen one free version that performed as Murrey had intended. There are also very few people training this method. Contact me if you would like that information. I am also new to this but so far I have found it to be very helpful.
  • #2,124
  • Aug 10, 2010 9:11am Aug 10, 2010 9:11am
Hi TraderFitz.
Check your inbox please.
Cheers!
Pahadi

Quoting TraderFitz
Does this thread still get used. I just discovered MM over the weekend reading the thread. It is wonderful stuff. I am trying MM out now (demo account) and using the techniques that have been outlined in this thread but I am taking a pounding. I would love to chat regarding this method.
  • #2,125
  • Aug 12, 2010 5:28pm Aug 12, 2010 5:28pm
tarantula..need help..if am trading using the murrey math on 1H ..wat shud be my size of periods..default is 60
MM
  • #2,126
  • Aug 13, 2010 4:17am Aug 13, 2010 4:17am
Quoting Mymoney
tarantula..need help..if am trading using the murrey math on 1H ..wat shud be my size of periods..default is 60
Open up MM properties..for H1 TF P=64 MMPeriod=60
For M15 P=64 MMPeriod=15

For M5 P=32 MMperiod=5
  • #2,127
  • Aug 13, 2010 6:00pm Aug 13, 2010 6:00pm
Hi T@rantula,
quick question for you : why do you have P 32 for the 5 min chart?

Other than squeezing the MM levels a bit more does it have any other significant advantages in your trading? I am just trying to look at it from a different angle. Will appreciate your point of view on this.

Cheers !

Pahadi
Quoting T@rantula
Open up MM properties..for H1 TF P=64 MMPeriod=60
For M15 P=64 MMPeriod=15

For M5 P=32 MMperiod=5
  • #2,128
  • Aug 17, 2010 5:07am Aug 17, 2010 5:07am
CADCHF, H4

Seems for me a fair price to enter long with several positions if do the shopping in the red support area.
Attached Image (click to enlarge)
Click to Enlarge Name: CADCHF, H4, 2010 August 17.jpg Size: 487 KB
  • #2,129
  • Aug 23, 2010 12:12am Aug 23, 2010 12:12am
Mr. Karthik,

Are u still using MM for your trading?, if so I had a few questions I wanted to ask you....Ive been studying mm for a while but still unclear on some points and whether or not the murrey lines present a advantage in finding support resistance......if you have an email address or fb add. I can send them to you or I can post them here.

Thanking you in advance!

Nathan
  • #2,130
  • Edited 10:48pm Aug 24, 2010 5:46am | Edited 10:48pm
Hi Gang-

Im still looking into the Murrey levels. It occurs to me that if you were to calculate the levels for higher time frames, lets say to take the example to the extreme - 10 higher time frames then the one you are trading on, you would in theory have Murrey levels everywhere on your shortest term/time period chart.! There would be no where for price to move!

This is unlike Fibonacci confluence in higher time frames. Does this suggest that the Murrey levels are not really "levels'? but but possible a sham?

The idea occurred to me to look for Murrey levels in multiple time frames as one would do with Fibs, and to find set ups where there is a confluence of two or more Murrey areas/levels. But then the above mentioned thought hit me.

If anyone can shed some light on this or give me their opinion Id be appreciative as I do want to explore Murrey, but this has given me pause.

Thanks


Nathan
  • #2,131
  • Aug 27, 2010 9:24am Aug 27, 2010 9:24am
Hi, I have been thinking of doing forex trading for some time now as i keep on hearing about it but i have felt quite apprehensive as it does seem a little like gambling ( although i have no problem with that and wouldnt mind doing it if i knew enough to ensure i won most of the time ).
I just feel that there is so many companies offering free and paid for training so what is in it for them ?
Also i do not want to do this just for fun and the thrill of it by winning a little now and losing a little bit then as i do not have the time for it as a pastime.
I would like to make money from it while keeping my risks to a realistic minimum.
I have considered purchasing some forex software that automates everything and makes the decision for you telling when to buy and sell as well as chosing what to buy.
Anybody got any ideas or advice for me and also where can i learn from.
Thanks Saeed
  • #2,132
  • Aug 28, 2010 5:34am Aug 28, 2010 5:34am
I think you guys find this interesting..
This here is a random snippet of 15 minute chart EU.
One chart with the murrey levels over time and one with the min/max/50% range over the past 64 periods over which the murrey levels are calculated.
Its something i made myself so i don't know if you will be able to find it somewhere else.
I am trying to find some profitable strategy that i can implement to backtest.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: forex147.jpg Size: 97 KB
Click to Enlarge Name: forex146.jpg Size: 52 KB
  • #2,133
  • Aug 28, 2010 7:24am Aug 28, 2010 7:24am
Quoting sasskian
Hi, I have been thinking of doing forex trading for some time now as i keep on hearing about it but i have felt quite apprehensive as it does seem a little like gambling ( although i have no problem with that and wouldnt mind doing it if i knew enough to ensure i won most of the time ).[size=3]
I just feel that there is so many companies offering free and paid for training so what is in it for them ?
[font=Garamond]Also i do not want to do this just for fun and...
Unless you get some proper training you will lose more than you make. You will need some training even to figure if your robot is any good. This alos the wrong forum for these questions. I suggest try any beginers forum. Note nothing is for free.
  • #2,134
  • Aug 28, 2010 7:37am Aug 28, 2010 7:37am
Quoting sasskian
[font=Garamond][size=3]Hi, I have been thinking of doing forex trading for some time now as i keep on hearing about it but i have felt quite apprehensive as it does seem a little like gambling ( although i have no problem with that and wouldnt mind doing it if i knew enough to ensure i won most of the time ).
I just feel that there is so many companies offering free and paid for training so what is in it for them ?
Also i do not want to do this just for fun and the thrill of it by winning a little now and losing a...
A craft like trading needs both training and hand on experience like screen time , real trading etc.
But someone has to start somewhere...IMO lay your hands on some literature on forex trading, trading in general , because very few things work in this arena. and if you do not have a proper system in place with positive expectancy then its a waste of both time and money.From a distance it looks a lot like gambling but its not once you know.Delve in if you must and its not a cheap pastime though.
luv to loose.....
  • #2,135
  • Aug 28, 2010 11:13am Aug 28, 2010 11:13am
I have a question about time and height devided by 8...
I create my murrey levels out of 64 candles, that devided by 8 is 8.
So i figured i can count the candles at each level.
For example when the thend is up...
I count the candles and if they are more then 8 the chance is big the trend may turn.
If the number of candles is less then 8 then its trending.
Is this correct?
  • #2,136
  • Aug 28, 2010 11:19am Aug 28, 2010 11:19am
Start with babypips.com. Learn a trading system and please do not go below the hourly chart. Open a demo acct and when you are comfortable with your system and believe in its ability to be profitable. Then open a cents acct put in 100 dollars. (Which I can guarantee that you would eventually lose, because of your emotions). When you get profitable on the cents account, move up to a mini account and then maybe after three years when you are profitable a full standard account.

Quoting sasskian
Hi, I have been thinking of doing forex trading for some time now as i keep on hearing about it but i have felt quite apprehensive as it does seem a little like gambling ( although i have no problem with that and wouldnt mind doing it if i knew enough to ensure i won most of the time ).[size=3]
I just feel that there is so many companies offering free and paid for training so what is in it for them ?
[font=Garamond]Also i do not want to do this just for fun and...
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #2,137
  • Sep 8, 2010 12:13am Sep 8, 2010 12:13am
Does anyone know of a way to manually back test the Murrey Math Indicator in MT4? Since it's based on the current market action, is there a way to set it to focus on the past? Thanks.
  • #2,138
  • Oct 2, 2010 11:32pm Oct 2, 2010 11:32pm
Quoting xard777
Here is a chart of cable...

All the best

Xard777
Hi Xard777, can you please upload the indicator on your chart. I've been looking for murrey math indicator with the 5 circles of conflict for a long time.
  • #2,139
  • Oct 4, 2010 1:34am Oct 4, 2010 1:34am
Quoting trader07
Does anyone know of a way to manually back test the Murrey Math Indicator in MT4? Since it's based on the current market action, is there a way to set it to focus on the past? Thanks.
No. MM lines are calculating current PA. Trading on MM is NOT a mechanical system and needs confirmation of other indicators.

T
  • #2,140
  • Oct 4, 2010 8:17pm Oct 4, 2010 8:17pm
Quoting ladex142
Hi Xard777, can you please upload the indicator on your chart. I've been looking for murrey math indicator with the 5 circles of conflict for a long time.
here you are....

Xard777
Attached File(s)
File Type: mq4 X TF 2009 (Angles) Plugin.mq4   43 KB | 2,365 downloads
File Type: mq4 X TF 2009 (Spheres) Plugin.mq4   11 KB | 2,257 downloads
File Type: mq4 X TF 2009 (TimeLine) Plugin.mq4   16 KB | 2,249 downloads
File Type: mq4 X TF 2009 v2.mq4   57 KB | 2,192 downloads
File Type: mq4 Xard TF 2009 v3.mq4   63 KB | 2,467 downloads
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