Trading is as simple as ABCD | Page 539 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Gartley/bat/crab/butterfly/abcd/three Drives Pattern Indicator Help 50 replies

Abcd fibo retracement trading journal 109 replies

ABCD - My way 122 replies

ABCD Fibo 82 replies

abcd patterns 1 reply

Attachments: Trading is as simple as ABCD
Exit Attachments

Trading is as simple as ABCD

  • #10,761
  • Oct 17, 2016 6:16am Oct 17, 2016 6:16am
Quoting manfredg
Today's trade: Below 50 SMA.Below 3/8th Trading Range.Below MACD. Down to 2/8ths Pivot. Potential reverse. {image}
Hi Manfred, as always a spot on logical trade from you, it seems you have made the FTSE your own by just adding a dose of common sense indicators, must admit to being a little frustrated, you take the time and trouble to show your trades with an explanation even answer questions, for what response or interest, next to nothing, me well lost the will to keep posting or answering any questions now.
  • #10,762
  • Oct 17, 2016 7:49am Oct 17, 2016 7:49am
Dave don't lose the will. It as because of you that I started to add to the thread. I thought that I might help as you have done. After all you raised or at least pursued the Murrey Maths concept/idea. Keep up the good work.
If you're having trouble ask for help. I have spent a lot of wasted hours trying to do it myself, when all I had to do was ask. There is always someone who will.
I'll get off the mount, now that my sermon is done.
  • #10,763
  • Oct 17, 2016 8:36am Oct 17, 2016 8:36am
Quoting manfredg
Dave don't lose the will. It as because of you that I started to add to the thread. I thought that I might help as you have done. After all you raised or at least pursued the Murrey Maths concept/idea. Keep up the good work. If you're having trouble ask for help. I have spent a lot of wasted hours trying to do it myself, when all I had to do was ask. There is always someone who will. I'll get off the mount, now that my sermon is done.
When this thread died and Clive seemed to walk away, I tried to keep it alive, must admit 1min trading was not my style, so I decide to introduce Murrey Maths as a form of a grid so as to let us cherry pick our trades with good risk & rewards, could have even been Pivots but decided on Murrey Maths, when I met Murrey and indeed bought into his ideas and software it was all set to Daily timeframes which did produce some largest stops, hence tried to use Clive's method with Murrey on much smaller timeframes to lessen the stop values over time and much heartache I have mostly manage to get it working in my favour, enough now to slowly creep away from the 1min & 5 min scalping into a more relaxed style if not with bigger stops at least bigger rewards. I have always accepted that anything more than 5min timeframes would not go down well on the thread so have never shown them, but that's were I am now with my Murrey trading and as you once said even if you take a 5min Murrey trade always have a look at the bigger picture, even Clive once said his Method works on all timeframes it just boils down to the cost of doing the trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDSBDaily.png Size: 67 KB
Click to Enlarge Name: USDJPYSBDaily.png Size: 74 KB
  • #10,764
  • Oct 17, 2016 8:56am Oct 17, 2016 8:56am
Quoting Pipglutton
....and more..... {image}
Nice trading Pieter! could you please share how to get the automatic 1h pivots? they look great I would love to test! all the best! J
  • #10,765
  • Oct 17, 2016 9:11am Oct 17, 2016 9:11am
with regards to murray lines can i ask how you decide on a trade? the charts all look great but it is a bit unclear as to how you decide on the trigger. Is it just a case of the murray saying its oversold so we look for price action to go long?

My interpretation from earlier... I am on 5min eur/usd. murray set to 240 (4hour). Im oversold according to murrey so looking for longs. waited for a rejection of the 36 ema following a hh/hl. think got about 11 pips from this one.
If im way off with this reading of murray please let me know. ta

Attached Image (click to enlarge)
Click to Enlarge Name: 1L.png Size: 28 KB
  • #10,766
  • Oct 17, 2016 10:34am Oct 17, 2016 10:34am
Quoting Pipglutton
....and more..... {image}

Pipglutton any chance to share Tamplate and Indies? what rules are you using as I see you post +xx pips, but dont see the trade on the chart...thanks in advance
  • #10,767
  • Oct 17, 2016 12:17pm Oct 17, 2016 12:17pm
Long...
Attached Image (click to enlarge)
Click to Enlarge Name: 2L.png Size: 32 KB
  • #10,768
  • Oct 17, 2016 2:06pm Oct 17, 2016 2:06pm
Quoting iak
with regards to murray lines can i ask how you decide on a trade? the charts all look great but it is a bit unclear as to how you decide on the trigger. Is it just a case of the murray saying its oversold so we look for price action to go long? My interpretation from earlier... I am on 5min eur/usd. murray set to 240 (4hour). Im oversold according to murrey so looking for longs. waited for a rejection of the 36 ema following a hh/hl. think got about 11 pips from this one. If im way off with this reading of murray please let me know. ta {image}
Hi my preference for a 5min Timeframe would be a Murrey 256 reason being 288 5min bars in a day so nearest Murrey number 256
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD m5 (10-17-2016 2003).png Size: 58 KB
  • #10,769
  • Oct 17, 2016 2:22pm Oct 17, 2016 2:22pm
Quoting iak
with regards to murray lines can i ask how you decide on a trade? the charts all look great but it is a bit unclear as to how you decide on the trigger. Is it just a case of the murray saying its oversold so we look for price action to go long? My interpretation from earlier... I am on 5min eur/usd. murray set to 240 (4hour). Im oversold according to murrey so looking for longs. waited for a rejection of the 36 ema following a hh/hl. think got about 11 pips from this one. If im way off with this reading of murray please let me know. ta {image}
Now the bigger picture, 60min chart with a Murrey 128 reason around 128hrs in a week and its a Murrey number, also a Daily Chart with a Murrey 256 around 256 trading days in a year, now also take a look at the little diagram that Manfred showed at the end of post 10,753
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD H1 (10-17-2016 2015).png Size: 74 KB
Click to Enlarge Name: EURUSD D1 (10-17-2016 2013).png Size: 110 KB
  • #10,770
  • Oct 17, 2016 2:56pm Oct 17, 2016 2:56pm
Quoting OAPDave
{quote} Hi my preference for a 5min Timeframe would be a Murrey 256 reason being 288 5min bars in a day so nearest Murrey number 256 {image}
Thankyou. I have adjusted mine to 256 also.
  • #10,771
  • Oct 17, 2016 3:57pm Oct 17, 2016 3:57pm
Quoting OAPDave
{quote} Now the bigger picture, 60min chart with a Murrey 128 reason around 128hrs in a week and its a Murrey number, also a Daily Chart with a Murrey 256 around 256 trading days in a year, now also take a look at the little diagram that Manfred showed at the end of post 10,753 {image} {image}
And that my friends is the beauty of trading.
Dave uses 256 as there are about 256 trading days in a year for a daily chart. I like to use 8 as this is closest to 2 weeks of data. However have also used 4; closest to a trading week. I use about 1days data for a 1 min chart and 2 days data for a 5min chart.
For the FTSE I like these settings as they don't make the Maths levels too great.
It really is a case of adjusting the settings to suit your risk threshold.

IAK - take your entries closer to the MM line. That way you will know if you are wrong much more quickly. TP closer to the other line. I find about a pip or so. This allows for the spread.

The reason I like the 1 and 5 min charts is that as I trade the London open all the action seems to happen in a short period of time - hence not much chance of news buggering up my prognostication ( big word just like wheelbarrow) and I read somewhere that the shorter the time you have in the market the less the risk.

To each his own.
  • #10,772
  • Oct 17, 2016 4:15pm Oct 17, 2016 4:15pm
Quoting manfredg
{quote} And that my friends is the beauty of trading. Dave uses 256 as there are about 256 trading days in a year for a daily chart. I like to use 8 as this is closest to 2 weeks of data. However have also used 4; closest to a trading week. I use about 1days data for a 1 min chart and 2 days data for a 5min chart. For the FTSE I like these settings as they don't make the Maths levels too great. It really is a case of adjusting the settings to suit your risk threshold. IAK - take your entries closer to the MM line. That way you will know if you are...
Wise words my friend, that is exactly why we are all traders with differing risk tolerances, and were ever we look there is NO HOLY GRAIL, just to add I agree with you if you want to get really close to the market your Murrey numbers make complete sense to me, 1min Murrey 1024 etc
  • #10,773
  • Oct 17, 2016 4:56pm Oct 17, 2016 4:56pm
Quoting iak
{quote} Thankyou. I have adjusted mine to 256 also.
Here is your chart based on Daily Candles using Manfred's example of Murrey 4 you will see that each line is 15.625 pips apart so NO need for BIG stops, just wait for price to get into the area that you want to trade, so you can scalp off Daily Charts if you find it easier, haha I am giving to many secrets away now cost me a fair bit of money and a lot of time to work out, Manfred as but the time and research in and now is reaping the reward and fair play to him
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD D1 (10-17-2016 2253).png Size: 77 KB
  • #10,774
  • Oct 18, 2016 2:57am Oct 18, 2016 2:57am
Here is today's trade: same rationale different time frame.
On 5min MACD above '0' line and pointing up. Above 3/8ths trading range. Likes to run at least 2 segments, but given the lower than usual runs in the last couple of days only went for 2.
Now have a Sell Limit in for 7010 to trade back to 6994. We will see. However hubris could be my undoing.
Attached Image (click to enlarge)
Click to Enlarge Name: FTSE100M1 18-10.png Size: 39 KB
  • #10,775
  • Oct 18, 2016 3:16am Oct 18, 2016 3:16am
Quoting manfredg
Here is today's trade: same rationale different time frame. On 5min MACD above '0' line and pointing up. Above 3/8ths trading range. Likes to run at least 2 segments, but given the lower than usual runs in the last couple of days only went for 2. Now have a Sell Limit in for 7010 to trade back to 6994. We will see. However hubris could be my undoing. {image}
Staying with the 1024
Attached Image (click to enlarge)
Click to Enlarge Name: UK100SBM1.png Size: 74 KB
  • #10,776
  • Oct 18, 2016 3:49am Oct 18, 2016 3:49am
Got too excited and took the trade too early. Short should be at 8/8ths for 2 levels (in my case). Watch what happens compared to the chart on post #10753. Keep that in the memory banks for next time.
As my mother would say to me:
I know you are smart and handsome,
But every night I pray to God,
That you will be lucky!!

Happy Trading.
  • #10,777
  • Oct 18, 2016 4:10am Oct 18, 2016 4:10am
Quoting manfredg
Got too excited and took the trade too early. Short should be at 8/8ths for 2 levels (in my case). Watch what happens compared to the chart on post #10753. Keep that in the memory banks for next time. As my mother would say to me: I know you are smart and handsome, But every night I pray to God, That you will be lucky!! Happy Trading.
The banters good my friend, and the bonus, gaining a few golden nuggets along the way, the one thing we must be mindful of is not to focus on the reversal trade all the time, but as you did this morning be ready to jump on the trend trade
  • #10,778
  • Edited 7:57am Oct 18, 2016 5:42am | Edited 7:57am
morning. my view of the eur/usd 5min with 256 mm and a 200 ema in colour...
looking to wait for price to break above 1/8 and for the ema to cross 1/8 also. then looking for pullback to ema/mm for entry. (in theory lol)

Attached Image (click to enlarge)
Click to Enlarge Name: view.png Size: 27 KB


Well it couldnt get passed the 1/8 and the 200 turned down. waited for a pullback and took profit at the murrey line. That will do. The wife just noticed im trading and getting stroppy! lol

Attached Image (click to enlarge)
Click to Enlarge Name: win.png Size: 33 KB
  • #10,779
  • Oct 18, 2016 6:02am Oct 18, 2016 6:02am
Quoting iak
morning. my view of the eur/usd 5min with 256 mm and a 200 ema in colour... looking to wait for price to break above 1/8 and for the ema to cross 1/8 also. then looking for pullback to ema/mm for entry. (in theory lol) {image}
To be honest I am being drawn more and more to the Ftse & Dax so not paying any attention to any FX pairs now, so good luck
  • #10,780
  • Oct 18, 2016 9:09am Oct 18, 2016 9:09am
Quoting manfredg
Got too excited and took the trade too early. Short should be at 8/8ths for 2 levels (in my case). Watch what happens compared to the chart on post #10753. Keep that in the memory banks for next time. As my mother would say to me: I know you are smart and handsome, But every night I pray to God, That you will be lucky!! Happy Trading.
Here are a few quotes from my Murrey manuals, +2/8th Octave 95% of the time any market moving above +1/8th will reverse down up at +2/8th the 1st time up here, 75% of all markets that move above 8/8ths will rise up to +1/8th and fall back, 8/8ths Innocent "rookies" are told to BUY HIGH so markets will move above 8/8ths by the innocent who replace the Short seller
7 traders viewing now