Trading is as simple as ABCD | Page 527 | Forex Factory

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  • #10,521
  • Aug 25, 2016 4:04am Aug 25, 2016 4:04am
Quoting Pipglutton
{quote} Hi Dave. No offense taken. Appreciate your input here. Looking back, I jumped out 44pips early like a real donkey! I am going to run your 64 on a separate screen. All these indi's I am using clutter my screen so much there's no place for anything more. Your candle above gave 15.1 A really nice one gives around 35 to 45 pips Rgds Pieter
Your no donkey, you make honest posts, show good or bad trades, nothing wrong with playing with all types of stuff until you settle on your OWN METHOD nothing but respect for you mate the same goes for all posters on here, just to add that's why I have a line set at 31 for the range of a 60min candle
  • #10,522
  • Aug 28, 2016 12:41pm Aug 28, 2016 12:41pm
To me this is a very good view to see how price action and Murrey combine, if you take note the 8/8ths - 0/8th octave is the same size on the Daily, 60min and 1min the murrey setting to produce this is, Daily Murrey 4, 60min Murrey 64, 1min Murrey 1024
Attached Image(s) (click to enlarge)
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  • #10,523
  • Aug 29, 2016 7:37am Aug 29, 2016 7:37am
Hi Dave.
I am throwing in the towel. I can't do this. I have tried my level best for the last 14 years and just cannot seem to get this right.
Obviously not for me. Have to find a job somewhere.....
  • #10,524
  • Aug 29, 2016 7:46am Aug 29, 2016 7:46am
Quoting Pipglutton
Hi Dave. I am throwing in the towel. I can't do this. I have tried my level best for the last 14 years and just cannot seem to get this right. Obviously not for me. Have to find a job somewhere.....
Are you serious?
Invincibility lies in the defence; the possibility of victory in the attack
  • #10,525
  • Aug 29, 2016 9:25am Aug 29, 2016 9:25am
Quoting Pipglutton
Hi Dave. I am throwing in the towel. I can't do this. I have tried my level best for the last 14 years and just cannot seem to get this right. Obviously not for me. Have to find a job somewhere.....
Hi Pieter, been there many times, that is why I trade the way I do now, its just price and a level, if I can help in any way I am on skype if you are, pm me with your address and we can chat, but it will not be about trading 1min timeframes with indicators, for my way of thinking that post by Excalibur says it all, you can just trade the 60min and follow what he says, look at a little trade he would have highlighted today, 60min chart with Murrey 64, no other timeframes, first touch 0/8ths back to 1/8th, now if it does not hit target at least you could have locked +10pips in, now if this happened on more than 1 pair you could make at worst 10pips x 1,2 3 and that's just one example of what he tells you, but to be fair not the best day to be trading Bank Holiday today in UK
Attached Image (click to enlarge)
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  • #10,526
  • Aug 29, 2016 9:31am Aug 29, 2016 9:31am
Quoting OAPDave
To me this is a very good view to see how price action and Murrey combine, if you take note the 8/8ths - 0/8th octave is the same size on the Daily, 60min and 1min the murrey setting to produce this is, Daily Murrey 4, 60min Murrey 64, 1min Murrey 1024 {image} {image} {image}
Dave,
I am somewhat confused: in this post you say: "Daily Murrey 4, 60min Murrey 64, 1min Murrey 1024", and a couple of days ago, answering my question, you suggested that the Murray setting should be the same for all timeframes, i.e. 64. Could you clarify?

Thank you.
  • #10,527
  • Aug 29, 2016 9:40am Aug 29, 2016 9:40am
Quoting Pipglutton
Hi Dave. I am throwing in the towel. I can't do this.
You are not alone. I hope Dave can help you find a way.
  • #10,528
  • Aug 29, 2016 9:52am Aug 29, 2016 9:52am
Quoting MidnightRun
{quote} Dave, I am somewhat confused: in this post you say: "Daily Murrey 4, 60min Murrey 64, 1min Murrey 1024", and a couple of days ago, answering my question, you suggested that the Murray setting should be the same for all timeframes, i.e. 64. Could you clarify? Thank you.
Hi , very fair question and yes I did say 64 for all, but I find that Excalibur seems to reference a 60min chart with a m64 and then he says,mark the lines shown on to smaller timeframes so I returned to the 1024 for a 1min chart it seems to match, I have modified my Fib Tool to mimic the Murrey octave so its easy for me to copy the level of the 60min to any smaller timeframe now, If you look at a M4 on a Daily it is a lot more responsive and the levels seem pretty good again matches a 64 on hourly also tighter octaves so makes stops and targets cheaper to play as a day trader another thing Murrey says he can find the market turns to within 4 days, hope that helps, to be fair you could easily play the Daily as a stand alone chart just requires more patients
Attached Image (click to enlarge)
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  • #10,529
  • Aug 29, 2016 10:08am Aug 29, 2016 10:08am
Seems a bit of good price action between 1.3061 & 1.3092
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  • #10,530
  • Aug 29, 2016 10:21am Aug 29, 2016 10:21am
Quoting OAPDave
{quote} Hi , very fair question and yes I did say 64 for all, but I find that Excalibur seems to reference a 60min chart with a m64 and then he says,mark the lines shown on to smaller timeframes so I returned to the 1024 for a 1min chart it seems to match, I have modified my Fib Tool to mimic the Murrey octave so its easy for me to copy the level of the 60min to any smaller timeframe now, If you look at a M4 on a Daily it is a lot more responsive and the levels seem pretty good again matches a 64 on hourly also tighter octaves so makes stops and...
Thank you, Dave,
Question: do I get it right that if I want to trade 15 min charts, I should set Murray at 64x4=256 (there are four 15 min parts in the hour).

Thank you
  • #10,531
  • Aug 29, 2016 10:28am Aug 29, 2016 10:28am
Quoting MidnightRun
{quote} Thank you, Dave, Question: do I get it right that if I want to trade 15 min charts, I should set Murray at 64x4=256 (there are four 15 min parts in the hour). Thank you
Yes, I would here is your chart 15min with M 256 can you see the 1.3092 & 1.3061 seem to be in the right Octave compared to the 60min with a M64
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  • #10,532
  • Aug 29, 2016 12:16pm Aug 29, 2016 12:16pm
Quoting Pipglutton
Hi Dave. I am throwing in the towel. I can't do this. I have tried my level best for the last 14 years and just cannot seem to get this right. Obviously not for me. Have to find a job somewhere.....
Not trying to be a smart arse, and not much comfort to you I know, just let the trades come to you, here is Excaliburs trade not easy but it made it, 3061 to 3092 and against the trend to boot, Must add that is only my thoughts on how he would have traded it,
Attached Image (click to enlarge)
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  • #10,533
  • Aug 29, 2016 2:37pm Aug 29, 2016 2:37pm
Quoting OAPDave
{quote} ... I find that Excalibur seems to reference a 60min chart with a m64 and then he says,mark the lines shown on to smaller timeframes...
Dave, where do I find Escalibur's posts? I've been searching this thread and others. Thanks.
  • #10,534
  • Aug 29, 2016 2:54pm Aug 29, 2016 2:54pm
Quoting mary4x
{quote} Dave, where do I find Escalibur's posts? I've been searching this thread and others. Thanks.
PAGE 526 POST 10,508 a real good read but as to be read over and over again
  • #10,535
  • Aug 29, 2016 3:51pm Aug 29, 2016 3:51pm
I like this thread much appreciated. Here in my chart is my entry on UJ on Friday. I hope for some continuation this week. Much in line with this thread I keep it simple to and keep leverage to a minimum and profits multiplied by some had pip work.
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  • #10,536
  • Aug 29, 2016 3:58pm Aug 29, 2016 3:58pm
On the EU on Friday I decided not to trade the break out but instead target the stops against trend
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  • #10,537
  • Aug 29, 2016 4:06pm Aug 29, 2016 4:06pm
I am a junior member and hope that the moderators will approve me to be able to open my own threads. My background in trading goes back to 2001 and from my charts you can see that I only use Monthly, Weekly and daily pivot points (Floor trader Pivots) What I have learned over the past 16 years I look forward to being a open book.
  • #10,538
  • Aug 29, 2016 4:30pm Aug 29, 2016 4:30pm
From the EU and UJ charts above, I look forward to sharing how I gap and fade those moves. Below chart is in line with that. I will be descriptive more if I am lucky to be a future member.
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Click to Enlarge Name: DOW THEORY WITH GAP AND FADE BACK ENTRIES.png Size: 117 KB
  • #10,539
  • Aug 29, 2016 4:48pm Aug 29, 2016 4:48pm
If you browse up to my first UJ post showing entry and half take profit, you can see 3 days 24th, 25th, 26th 2 orange line sandwiching a central daily pivot point (PP) those relationships are very important to me in determining the direction of the expected break out. Here is a taster of rolling relationships.
Attached Image (click to enlarge)
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  • #10,540
  • Aug 29, 2016 4:48pm Aug 29, 2016 4:48pm
Quoting Dennis1468
From the EU and UJ charts above, I look forward to sharing how I gap and fade those moves. Below chart is in line with that. I will be descriptive more if I am lucky to be a future member. {image}
Welcome to the thread, its good to see a post with charts, any chance of popping a Gbp/Usd up with your views please
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