GBPUSD M15, sitting low beyond the 0/8, touching the ADR low...
Daily MMP=1440...
I'm not sure if these lines at 1440 are at the correct levels..
Daily MMP=1440...
I'm not sure if these lines at 1440 are at the correct levels..
Murrey Math indicator is very useful in Forex 68 replies
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Murrey math trading 1 reply
Disliked{quote} I hope you never stop posting because what you provide is extremely relevant. You are more than welcome to criticise any trades I make here since they are MML. Perhaps when I post the completed trade on USDCHF you will have a field day .... its not looking good. I will have plenty to say on that entry too ... good or bad end result matters not. Losing is a part of the business but we should all try to limit it as much as possible and learn something from the trade. Then grow from the experience. All you traders rock! Masterrmind..............Ignored
DislikedGBPUSD M15, sitting low beyond the 0/8, touching the ADR low... {image} Daily MMP=1440... {image} I'm not sure if these lines at 1440 are at the correct levels..Ignored
Disliked{quote} My contribution is my preaching all over this board. Get small! I have a five figure account, and I trade pennies! Something we learned in the Similarity Project a few years ago is that price will return to any point within 90 trading days. If you trade small, you can ride out any DD. Pennies add up. Sure, I can trade 2 standard lots, but why? I will just vacuum up the pennies on the floor. It is safer, and it is stress free.Ignored
Disliked{quote} Have a look at MM 256 on a Daily (around the number of trading days in a year, see how long it as stayed in certain Octaves {image}Ignored
Disliked{quote} My chart is showing something completely different.... I've got to admit it's quite confusion. Everyone has different settings and suggestions, I just want something that works with the correct murrey levels on the various TF's.. {image}Ignored
Disliked{quote} Your chart will show something different if you are in a different time zone. Murrey Math is not a magic bullet. It displays a grid that that some believe has specific properties. It tends to work because you are buying low and selling high, and your reward is potentially 7/8ths times your risk. Even if you clip your trades to have 2/8ths, you are still positive in the traders equation because you rish 1/8th to get 2/8ths. Do not stress about the numbers, look at what you see on your chart and trade that.Ignored
Disliked{quote} Thanks, makes sense then with time zones. Yea I suppose I need to stop blaming the indicators and spend more time looking at the patterns and fundamentals. Thank youIgnored
Disliked{quote} Thanks, makes sense then with time zones. Yea I suppose I need to stop blaming the indicators and spend more time looking at the patterns and fundamentals. Thank youIgnored
Disliked{quote} I do not consider you blaming the indicators, if you need the lines, follow what they tell you to do. Xard777 has a nice MM grid for dummies. Just follow the yellow brick road.Ignored