Murrey Math and Quantum Method | Page 15 | Forex Factory

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Murrey Math and Quantum Method

  • #281
  • Mar 7, 2017 7:58am Mar 7, 2017 7:58am
GBPUSD M15, sitting low beyond the 0/8, touching the ADR low...
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 58 KB

Daily MMP=1440...
Attached Image (click to enlarge)
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I'm not sure if these lines at 1440 are at the correct levels..
  • #282
  • Mar 7, 2017 7:58am Mar 7, 2017 7:58am
Quoting Masterrmind
{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..............
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.
If you are good at something, never do it for free--Joker
  • #283
  • Mar 7, 2017 8:09am Mar 7, 2017 8:09am
Come on GA
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 102 KB
Find it The Best Entry Points
  • #284
  • Mar 7, 2017 8:14am Mar 7, 2017 8:14am
Quoting johnsmith2nd
GBPUSD 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..
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
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDSBDaily.png Size: 59 KB
  • #285
  • Mar 7, 2017 8:20am Mar 7, 2017 8:20am
Quoting jmn5611
{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.
Mean Reversion is a wonderful thing so long as a healthy margin% is maintained throughout the Ups and Downs.

The objectives of the trader are key here.

Some traders might be happy to trade 0.01 lots and let the trade stay open for months.

However, to some traders this would drive them crazy.

We are each painted with a different brush afterall and what suits one trader may not suit another.

Initially when learning to trade I tend to think that trading low lots on a largish account (relatively speaking) is the way to go.

Seasoned traders are free to apply whatever style floats his/her boat.

Long term consistency should be the goal of any trader ... lets just hope the consistency is for profit and not for donating to the market.

Masterrmind............
Master your Mind then Master your Trades
  • #286
  • Mar 7, 2017 8:43am Mar 7, 2017 8:43am
Both USDCHF and GBPAUD allowed to run on ...

Stops and TPs increased but with favorable r:R if the TPs get hit.

Enjoy the rest of your trading session.

Time for rest.

Masterrmind............
Master your Mind then Master your Trades
  • #287
  • Mar 7, 2017 9:07am Mar 7, 2017 9:07am
Gold is burning ..1100.... 1040 ?
EUR / ZAR long
H 1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: EURZARmicroH1.png Size: 55 KB
donīt follow me,you will loose your moneyy
  • #288
  • Mar 7, 2017 9:24am Mar 7, 2017 9:24am
Quoting teatime
Gold is burning ..1100.... 1040 ? EUR / ZAR long H 1 chart {image}
Find it The Best Entry Points
  • #289
  • Mar 7, 2017 9:41am Mar 7, 2017 9:41am
Quoting OAPDave
{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}
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..
Attached Image (click to enlarge)
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  • #290
  • Mar 7, 2017 9:51am Mar 7, 2017 9:51am
Quoting johnsmith2nd
{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}
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.
If you are good at something, never do it for free--Joker
  • #291
  • Mar 7, 2017 9:57am Mar 7, 2017 9:57am
Quoting jmn5611
{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.
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 you
  • #292
  • Mar 7, 2017 10:13am Mar 7, 2017 10:13am
Quoting johnsmith2nd
{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 you
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.
If you are good at something, never do it for free--Joker
  • #293
  • Mar 7, 2017 10:19am Mar 7, 2017 10:19am
Quoting johnsmith2nd
{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 you
Just to echo what jmn5611 says, I have kept with my original MM coded by xard, just think of it as a picture frame and you want it to include a certain number of days that include the Octave that catches the high and low, with the one I have I just set the beginner to 0 and the periodtake to what ever number I want to see as back data, so all I have to do is change 1 number hence 256 trading days in a year, or 128 hour in a week etc, so its up to you to tailor it to your own style and timeframe you want to trade from you could even look at 1024 (mm number) on a 5min chart, then you get a weeks view of price action, its really as jmn says its for dummies but it helps and works
  • #294
  • Mar 7, 2017 10:28am Mar 7, 2017 10:28am
Quoting teatime
Gold is burning ..1100.... 1040 ? EUR / ZAR long H 1 chart {image}
uups sl hit , +55
donīt follow me,you will loose your moneyy
  • #295
  • Mar 7, 2017 11:00am Mar 7, 2017 11:00am
Thanks Dave and jmn5611. I will do as you say! Your contributions to this thread are invaluable! I enjoy the posts thoroughly! Looking forward to hear more insight from you both.
  • #296
  • Mar 7, 2017 12:09pm Mar 7, 2017 12:09pm
Quoting jmn5611
{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.
Jmn5611,

Could you explain "Just follow the yellow brick road"? Tried looking for Xard777 Grid, took me to a thread where there are many indicators posted. If possible, kindly provide a link to "MM grid for dummies"

Thanks
  • #297
  • Mar 7, 2017 1:47pm Mar 7, 2017 1:47pm
watchlist NZD CAD
4:45pmNZD
Manufacturing Sales q/q

H 1 chart
Attached Image (click to enlarge)
Click to Enlarge Name: NZDCADmicroH1.png Size: 48 KB
donīt follow me,you will loose your moneyy
  • #298
  • Mar 7, 2017 1:57pm Mar 7, 2017 1:57pm
@Vgyuszko

What EA are you using in the Daily3 demo account?
Is it Quantum London Trading EA v1.6.1 posted in the first page of this thread? I am using it with the broker Alpari, and Iīm not getting the same results. A different set of parameters maybe?

Thanks for your support!

/Regards
  • #299
  • Mar 7, 2017 5:02pm Mar 7, 2017 5:02pm
Before this thread I used to scalp trendline with confluence of Support and Resistance and pivots. That was a very powerful strategy, and high probability confluence set ups with trend lines resulted with fast and very profitable trades. Seeing as how profitable the Murray Lines can be I imagine combining them with trendlines would be good too. The upside to this is that I only check every couple hours to see how close to the trendline price is, see if there are any levels close to the trendline and set my price alerts. The downside is that there aren't as many set ups. But if you are like me and don't want to spend so much time checking for set ups, this might be of use.

When a trendline is in confluence with a key level of support/resistance, pivot, etc, it will produce a faster move. If you look at the screenshots posted, the bounces from the Murray Lines that were in confluence with the trendline bounced the strongest and actually had a decent move. You might notice that when price bounces in confluence with the trendline it is much stronger than without confluence with the trendline as you can see by the screenshot where price hit the 4/8 level previous but did not move as fast and strong as with the trend line during the later move.

The first picture shows bounces where the first is less than 5 pips off of the 6/8, the 0/8 and 4/8 levels are dead on with the trendline. The second shows trendlines for the 1 hour chart.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Trendline1.png Size: 26 KB
Click to Enlarge Name: Trendline 2.png Size: 21 KB
Attached File(s)
File Type: mq4 AutoTrendChannel.mq4   9 KB | 695 downloads
File Type: ex4 AutoTrendChannel.ex4   10 KB | 596 downloads
  • #300
  • Mar 7, 2017 5:46pm Mar 7, 2017 5:46pm
Trades 2 and 3 closed out as follows:

3 from 3

GA

+16.5 pips

Attached Image (click to enlarge)
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Note 1: Consolidation in and around the 500 level
Note 2: Trade given plenty of opportunity to progress but failed and trade was closed out for some profit.
Note 3: Bears are seen to be coming back in so to reduce the risk of losing some profit the trade was closed out.

UChf

+9.6 pips

Attached Image (click to enlarge)
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Note 1: Entry was made under non-ideal PA conditions
Note 2: Realized DD in pips almost 3 times the gain
Note 3: Be aware of MML reset at far extremities

Onto the next MML setups.

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