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Murrey Math and Quantum Method

  • #241
  • Mar 6, 2017 10:42pm Mar 6, 2017 10:42pm
Quoting cescof
{quote} Looking at the chart i requote it was clearly tf 1h .....
Have you got yourself sorted out?

Please refer to the above post for additional information.

It is advisable to apply different MMPeriod settings in the MML indicator but keep P=64 constant.
This will soon show you how the gaps created between MML octaves change on your chart.

I am currently only trading on an M15 TF with P=64 and MMPeriod=240.
By having MMPeriod set=240 what this does is gives me the same levels as a H4 chart.
By leaving the indicator settings unchanged as above I can simply change the TF say to M5 and see plenty more PA or drop to M1 near key reversal or engagement MML levels to fine tune the entry.

If you are trading on a H1 Chart then I would apply P=64, MMPeriod=240 or 1440 so throw these settings on your chart and see which ones you feel comfortable trading. On H1 though your trades are likely to run for more than a day in general based in part on your TP level.

Masterrmind...........
Master your Mind then Master your Trades
  • #242
  • Mar 6, 2017 11:56pm Mar 6, 2017 11:56pm
Quoting Masterrmind
{quote} AN And here is what happened ..... M15 {image} H4 {image} Notice that the 7/8 level from yesterday is now showing as 6/8 when applying it today. Masterrmind............
Hi Masterrmind,

Long time since we chatted . The level will change if something changed in the lookback period as it is a repainting indicator - so if the highs or lows were different then it will redraw I think. I use it on the 240 setting also and mainly look at the T15 with the odd T! and T5 check. I am using the Murray Math 1 indicator (not the one that prints the info top left of chart - and it has no baby lines either).

I also have instance that I use the on the weekly setting (10080) and have it on a daily chart which is nice for my longer term trades. Yesterdays EU was a very good example of the shorter term trade setup.. Let me know if you want more info on MM and will send it for you.

All the best
maahome
  • #243
  • Mar 7, 2017 12:28am Mar 7, 2017 12:28am
Quoting maahome
{quote} Hi Masterrmind, Long time since we chatted . The level will change if something changed in the lookback period as it is a repainting indicator - so if the highs or lows were different then it will redraw I think. I use it on the 240 setting also and mainly look at the T15 with the odd T! and T5 check. I am using the Murray Math 1 indicator (not the one that prints the info top left of chart - and it has no baby lines either). I also have instance that I use the on the weekly setting (10080) and have it on a daily chart which is...
Yes I just thought the MML would reset after extremes have been breached.

However, as you say I also believe it is the period that caused it.

Cheers,

Masterrmind...........
Master your Mind then Master your Trades
  • #244
  • Mar 7, 2017 12:33am Mar 7, 2017 12:33am
GA

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 39 KB


Masterrmind..........
Master your Mind then Master your Trades
  • #245
  • Mar 7, 2017 1:10am Mar 7, 2017 1:10am
Quoting Masterrmind
GA {image} Masterrmind..........
GA my chart DRL = -2/8!
-2/8 turn round?
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 102 KB
Find it The Best Entry Points
  • #246
  • Mar 7, 2017 1:21am Mar 7, 2017 1:21am
Quoting Masterrmind
{quote} At this stage I'd use the following but there are many other combinations. I would also check the instrument its TF and the PA across the chart to make sure the levels actually make some sense. Note at this stage all with settings of 64 but this can be altered to other Murrey Math alternatives if desired and if suitable: All with P=64 (I may seek alternatives at a later stage but 64 provides good enough levels for me) M1; 60 and 240 M5; 60 and 240 M15; 240 M30; 240 H1; 240 and 1440 H4; 1440 and 7200 D1; 7200 and 28800 Recall that: 1. 60...
Apply the following:

MMPeriod (default = 1440 but I use 240)
* 60 for hourly pivots,
* 1440 for daily pivots,
* 10080 for weekly and
* 43200 for monthly.

If the setting is greater than 0 then the indicator will apply a P value of MMPeriod (minutes) to calculate all the MMLs.

If set = 0, then the indicator will use the P value of the current TF of the applied chart and calculate all the MMLs.

NB. I also use different values for the W1 and MN but each to their own ... the chart structure has much to say about the choice IMHO.

Masterrmind.............
Master your Mind then Master your Trades
  • #247
  • Mar 7, 2017 1:24am Mar 7, 2017 1:24am
GU
DRL= -1/8
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 103 KB
Find it The Best Entry Points
  • #248
  • Mar 7, 2017 1:32am Mar 7, 2017 1:32am
Quoting vgyuszko
{quote} GA my chart DRL = -2/8! -2/8 turn round? {image}
Yes I've been observing GA most of the day.

However it lacks the high probability component (no real momentum to the upside and basically ranging over the level b/w 500 to 700).

Chart structural view it looks good for a long.

78.6 Fib of the main leg is also a favorite of mine.

I'll keep a close watch on it and if price makes its way back down say 15-20 pips to the lower level again then I'll look for a long since this will get me into the trade at a better price.

Until then I'm observing only.

Masterrmind..............
Master your Mind then Master your Trades
  • #249
  • Mar 7, 2017 1:41am Mar 7, 2017 1:41am
GA

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 24 KB


Now its got my attention.

Price dropped down a little for me.

Masterrmind............
Master your Mind then Master your Trades
  • #250
  • Mar 7, 2017 1:43am Mar 7, 2017 1:43am
Quoting Masterrmind
GA {image} Now its got my attention. Price dropped down a little for me. Masterrmind............
How would you like that!

Missed a good price for a long due to posting to this thread.

Just have to wait again.

Masterrmind...........
Master your Mind then Master your Trades
  • #251
  • Mar 7, 2017 1:50am Mar 7, 2017 1:50am
Quoting Masterrmind
{quote} How would you like that! Missed a good price for a long due to posting to this thread. Just have to wait again. Masterrmind...........
GA

Buy Limit Order placed.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 48 KB


If it does not trigger before London Open I may cancel the pending order and re-assess.

Applied 1 lot but under the circumstances I'm thinking this trade should probably be @ 0.5 lots due to a further drop in price being possible.

Masterrmind............
Master your Mind then Master your Trades
  • #252
  • Mar 7, 2017 2:01am Mar 7, 2017 2:01am
Quoting Masterrmind
{quote} GA Buy Limit Order placed. {image} If it does not trigger before London Open I may cancel the pending order and re-assess. Applied 1 lot but under the circumstances I'm thinking this trade should probably be @ 0.5 lots due to a further drop in price being possible. Masterrmind............
Find it The Best Entry Points
  • #253
  • Mar 7, 2017 2:16am Mar 7, 2017 2:16am
Quoting vgyuszko
{quote}
Got to leave temporarily.

I'll leave the pending order as it is.

Back in a few hours.

Masterrmind...........
Master your Mind then Master your Trades
  • #254
  • Mar 7, 2017 2:45am Mar 7, 2017 2:45am
Quoting Masterrmind
{quote} GA Buy Limit Order placed. {image} If it does not trigger before London Open I may cancel the pending order and re-assess. Applied 1 lot but under the circumstances I'm thinking this trade should probably be @ 0.5 lots due to a further drop in price being possible. Masterrmind............

Hi Mastermind,

For me the 1.60000 is more significant as a turning point.

Trading from (-1) (-2) (+1) (+2) Levels from H1 and above and Trading from those Levels on M15 and M5 increases chances of success greatly.

Particularly when used in conjunction with Market Structure, RN and PA.

At the moment more Orders are being Accumulated around the 1.6050 Half Number.

We don't know yet if the Accumulation is to go Long or to continue down to the 1.60000 RN.
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  • #255
  • Mar 7, 2017 3:37am Mar 7, 2017 3:37am
What do you think from EN?
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Find it The Best Entry Points
  • #256
  • Mar 7, 2017 4:24am Mar 7, 2017 4:24am
We all have a different Risk /Reward tolerance
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  • #257
  • Mar 7, 2017 5:02am Mar 7, 2017 5:02am
GA

Attached Image (click to enlarge)
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Pending order @ 1 lot now deleted.

New Buy Limit @ 0.5 lots (identical values) has been set.

PA is rather rangy (tight) at the moment suggesting market direction is uncertain.

Note 1: The blue rectangle below pending order is there as a visual reference that if price hits it I'll drop to an M1 TF and seek to exit the trade.
Note 2: Just because the SL is placed right down at the next level does not mean I will eat that much of a loss ... certainly will not.

Masterrmind...........
Master your Mind then Master your Trades
  • #258
  • Mar 7, 2017 5:09am Mar 7, 2017 5:09am
This is a very simple way that helps me to see if I want to be a Buyer or Seller
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  • #259
  • Mar 7, 2017 5:09am Mar 7, 2017 5:09am
Quoting vgyuszko
What do you think from EN? {image}
hi what's the use of symbol changer indicator?
  • #260
  • Mar 7, 2017 5:17am Mar 7, 2017 5:17am
Quoting stevepatt
{quote} Hi Mastermind, For me the 1.60000 is more significant as a turning point. Trading from (-1) (-2) (+1) (+2) Levels from H1 and above and Trading from those Levels on M15 and M5 increases chances of success greatly. Particularly when used in conjunction with Market Structure, RN and PA. At the moment more Orders are being Accumulated around the 1.6050 Half Number. We don't know yet if the Accumulation is to go Long or to continue down to the 1.60000 RN. {image}
The option is there to cancel the pending order if its not triggered in the next few hours.

A smaller lot size is now applied with a cancellation of the first pending order but a long trade will still be sought.

Based on the direction that price takes after the order is active in the market then an earlier manual closure may be made just under the blue rectangle shown on my screenshot above.

If the trade is closed out prematurely then ther is always the option to re-enter at an even lower level.

Time will tell how this unfolds but I'm still willing to take on a reduced risk at the 50 level since it still represents a reasonable opportunity to get into the long side.

ps. these MML gaps on GA are nice too @ just a touch over 60 pips so to get 2 levels would be super nice!

Masterrmind............
Master your Mind then Master your Trades
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