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  • #10,741
  • Oct 12, 2016 2:21am Oct 12, 2016 2:21am
The pound is in a huge down swing. Gotta make the best of it....
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  • #10,742
  • Oct 12, 2016 2:34am Oct 12, 2016 2:34am
Quoting Pipglutton
The pound is in a huge down swing. Gotta make the best of it.... {image}
Must say great trading my friend, that's a very neat trick using 60 min pivots,
  • #10,743
  • Oct 12, 2016 6:05am Oct 12, 2016 6:05am
Hi Dave,
I've been following your work on Murrey Math.
You inspired me to do some back testing and forward demo testing. Initially I thought that it wouldn't work, but was pleasantly surprised to see it regularly gives good moves between lines and OB/OS . Also responding to the lines as they act as Res/sup.

I recall seeing that you have a 25 pip target for the day then I presume, out and done for the day.
As in all systems you can get multiple signals to trade and overtrade and get whipsawed etc.

Question, have you found that the 25 pip target ( how many R-multiples is that ?) avoids this ?
I suspect your major trade period is Frank/London open to garner these pips ?
Also I find that the US open up until 15:30 gives good moves through the lines. do u trade this too?
In my testing I look for a 1:1 R/R putting a stop behind the next line if it doesn't go to plan, with the next level as target and then ,maybe , try for the next level if volume/vol is still in the market.
But, the lure of "just one more level " can often take back hard earned pips from the account, so I try to gain 2xR for the morning session from either DAX,UKX100 and a GBP based pair. then another 1-2 R in us session.
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  • #10,744
  • Oct 12, 2016 6:34am Oct 12, 2016 6:34am
Quoting Tpack
Hi Dave, I've been following your work on Murrey Math. You inspired me to do some back testing and forward demo testing. Initially I thought that it wouldn't work, but was pleasantly surprised to see it regularly gives good moves between lines and OB/OS . Also responding to the lines as they act as Res/sup. I recall seeing that you have a 25 pip target for the day then I presume, out and done for the day. As in all systems you can get multiple signals to trade and overtrade and get whipsawed etc. Question, have you found that the 25 pip target (...
Thanks for your interest, chart and questions regarding Murrey, before I answer and to get on the same page as you, please tell me the Octave size ie Murrey number you are using on your 15min Charts as I do not trade either of them Dax or Uk 100
  • #10,745
  • Oct 12, 2016 6:47am Oct 12, 2016 6:47am
Hi Dave,I'm out at moment, (climbing Snowdon), if I remember correctly, P64,15mins.
But I'll be back home later today.
  • #10,746
  • Oct 12, 2016 7:15am Oct 12, 2016 7:15am
Quoting manfredg
Have to this stage only focused on the FTSE. Here is a GBPJPY trade taken. Took some heat early. Ah could have, should have didn't hold out till 6/8ths. The system works!! {image}
Hi Manfredg, had a question from Tpack about trading the Dax & Uk100 I know that you seem to be doing really well with Murrey and trade these, as I have no real experience with either could you help me out with a few pointers for him please, I am not sure about a 64 on a 15min though, also about my 25 targets using Ftse I guess should be ok with the Dax though, Thanks Dave
  • #10,747
  • Oct 12, 2016 7:55am Oct 12, 2016 7:55am
A quick 11 pips....
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  • #10,748
  • Oct 12, 2016 7:59am Oct 12, 2016 7:59am
....and 36 pips more. This Pivot strategy knocks the stuffing out of Murrey Maths (only my two cents worth) when it comes to scalping and intraday...
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  • #10,749
  • Oct 12, 2016 8:08am Oct 12, 2016 8:08am
....and more.....
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  • #10,750
  • Oct 12, 2016 8:31am Oct 12, 2016 8:31am
Quoting Pipglutton
....and more..... {image}
Brilliant trading my friend , what you have done with the neat trick of putting 60min pivots on your chart is to create the Murrey chartshift now as you have seen that if you over lay Murrey you get a very near match, but to be fair the overlay is just a little too much for the eyes and I AGREE THAT PIVOTS can BEAT MURREY for scalping hahaha (they are both the same) glad you got there tough learning curve few heartbreaks along the way, but I think you have made it now, not to sure about all the indicators but hey you deserve the glory
  • #10,751
  • Oct 12, 2016 1:17pm Oct 12, 2016 1:17pm
Here's the Dow on a ten Range Bar chart
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every Saint has a past. Every Sinner has a Future
  • #10,752
  • Oct 13, 2016 2:52pm Oct 13, 2016 2:52pm
Quoting OAPDave
{quote} Hi Manfredg, had a question from Tpack about trading the Dax & Uk100 I know that you seem to be doing really well with Murrey and trade these, as I have no real experience with either could you help me out with a few pointers for him please, I am not sure about a 64 on a 15min though, also about my 25 targets using Ftse I guess should be ok with the Dax though, Thanks Dave
Hi Dave,
I am using the The MurrayMath Timeframe indicator by XARD777 and for the 1min FTSE100 I have it set to 2048. The 5min chart settings are 1024. I'm not sure what settings for the 15min chart would be. I would have thought that to give direction you would be using a daily chart set to 4 or 8 and an hourly chart set to 128. The 15min chart is, I believe, too long a time frame to trade, particularly at London Open.
I don't trade the Dax.

Hope this helps.
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  • #10,753
  • Oct 13, 2016 3:12pm Oct 13, 2016 3:12pm
Oh Dave I forgot to add this:

This is the corresponding 5min chart.
In the 5min chart we're at the bottom of the 3/8th trading range and on the 1min we're at the 2/8th pivot-major reverse segment. This to me gives confirmation that we are heading south.
This in conjunction with the Murrey Math road map and we're away.
As for 25 pip target; you will note that the grid lines on the 1min are 19 pips apart, where as the 5min are 39 pips apart. You decide.
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  • #10,754
  • Oct 14, 2016 3:16am Oct 14, 2016 3:16am
Quoting manfredg
{quote} Hi Dave, I am using the The MurrayMath Timeframe indicator by XARD777 and for the 1min FTSE100 I have it set to 2048. The 5min chart settings are 1024. I'm not sure what settings for the 15min chart would be. I would have thought that to give direction you would be using a daily chart set to 4 or 8 and an hourly chart set to 128. The 15min chart is, I believe, too long a time frame to trade, particularly at London Open. I don't trade the Dax. Hope this helps. {image}
Hi Manfredg, many thanks for the detailed response to my question, I am sure T Pack and indeed myself will find it very useful when looking at the FTSE, I have noticed that you use some different Murrey numbers than I would use on the FX pairs, have you found that each pair as its own unique number, Murrey did say in his manual that when looking at a chart you look for the (best fit) many thanks again for taking the time and trouble with your detailed post
Dave
  • #10,755
  • Oct 14, 2016 3:44am Oct 14, 2016 3:44am
Hi Dave,
I found I had to use different numbers for the CFD's of the cash market compared to the constantly traded CFD's. The idea as I understand it to be is to get a range of grid lines based upon past activity. I used 2 days of price information i.e 2880mins. Dividing that into 1 and 5 min charts given the Murrey Math numbers i.e. 2,4,8,16,32,64,128,256,512,1024,2048, gave me the answer. (It might well be the wrong answer but it works; for me) The 5 min chart on 512 was too wide and inconsistent, hence the 1024 setting.
I think the idea is to play with the numbers, have some faith in them and trade the levels, after having watched the movements for a couple of days/weeks.

Good Luck.
Manfred.
  • #10,756
  • Oct 14, 2016 3:54am Oct 14, 2016 3:54am
Quoting manfredg
Hi Dave, I found I had to use different numbers for the CFD's of the cash market compared to the constantly traded CFD's. The idea as I understand it to be is to get a range of grid lines based upon past activity. I used 2 days of price information i.e 2880mins. Dividing that into 1 and 5 min charts given the Murrey Math numbers i.e. 2,4,8,16,32,64,128,256,512,1024,2048, gave me the answer. (It might well be the wrong answer but it works; for me) The 5 min chart on 512 was too wide and inconsistent, hence the 1024 setting. I think the idea is to...
Manfredg, that is just simply the best reply I have ever seen in the use of Murrey Maths
  • #10,757
  • Oct 14, 2016 4:28am Oct 14, 2016 4:28am
[quote=manfredg;9197862]Hi Dave, I found I had to use different numbers for the CFD's of the cash market compared to the constantly traded CFD's. The idea as I understand it to be is to get a range of grid lines based upon past activity. I used 2 days of price information i.e 2880mins. Dividing that into 1 and 5 min charts given the Murrey Math numbers i.e. 2,4,8,16,32,64,128,256,512,1024,2048, gave me the answer. (It might well be the wrong answer but it works; for me) The 5 min chart on 512 was too wide and inconsistent, hence the 1024 setting. I think the idea is to ........

Hey Manfred, you're the man! Keep it up buddy, you will reap the fruits of your diligence.....
  • #10,758
  • Oct 14, 2016 4:58am Oct 14, 2016 4:58am
Quoting Tpack
Hi Dave, I've been following your work on Murrey Math. You inspired me to do some back testing and forward demo testing. Initially I thought that it wouldn't work, but was pleasantly surprised to see it regularly gives good moves between lines and OB/OS . Also responding to the lines as they act as Res/sup. I recall seeing that you have a 25 pip target for the day then I presume, out and done for the day. As in all systems you can get multiple signals to trade and overtrade and get whipsawed etc. Question, have you found that the 25 pip target (...
Hi Tpack, I think Manfredg as give you the answers to the questions that you sent to me, as you can see he is far more experienced with the Ftse than me, and I have to say he is spot on with his understanding of Murrey as well, so I am sure that will be of help
  • #10,759
  • Oct 14, 2016 5:39am Oct 14, 2016 5:39am
Just having a look at Manfred's settings on the Ftse, cannot argue with them at all.
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  • #10,760
  • Oct 17, 2016 5:55am Oct 17, 2016 5:55am
Today's trade: Below 50 SMA.Below 3/8th Trading Range.Below MACD. Down to 2/8ths Pivot. Potential reverse.
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