The Murrey Math Trading System - page 32

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cmc:
Hi guys,

For those of you who are seraching for the the ultimate trading system, you've found it. Delete all other indicators from your MT and only use MM. .

CC

Can you post the MM you are using please and the timeframe as there are so many versions?

[[Deleted]]

Please see the previous page, I have posted the MMOctave v5 several times and am using a different computer at the moment.

For MMOctave V5: timeframe all - just depends on how long you want to wait and how much you want to make.

Xard's template is a complete environment - it is a large collection. There was some sort of version bug or misunderstanding, he has a few posts about it. Those are the two main applications we are using right now.

I still haven't heard back from anyone about the trading ruleset cmc seems quite happy with a similar or same ruleset, but no details about entry/exit were given.

[cmc]

Hi guys,

Just to answer a few qustions, I use a 15 min timeframe, always have. I 've only ever used a 30 min trying with other systems, but it is too viscious with the stops (hence I no longer use them), but the 15 works for me now. Re details on entry/exit, as previouslty explained, if the price is nearing an extreme level, I set an entry order for the exact amount of the 1/8 price, with a 100 pip profit exit, then just leave it alone. Sometimes it will kick me in and oversshoot, then fall back to hit my exit, somtimes it has hit to the pip, then fallen to reach my 100 pips, other times it hit, then recalculated itself, which is a little disconcerting (like the Cable recently at 1.9105 but it fell away again before running back up, it always does.) but I still got my 100 pips. I like the Cable, recalculating itself, because now I'm working with "fresh data" if you know what I mean? My next target I'm watching is the CAD, which by my version is sitting on 1.1475 8/8 if price goes through this , I will set a sell entry order for the 1/8 (1.1536) I will try to attach some charts

[cmc]

Version I'm using

CMC

[david mackay]

CMC

Thanks for the post showing your thoughts about entries and targets.... big helpful......!!!

[colbru]

Hi CMC

I'm a little surprised... you trade without stops? You said A trade went -200 pips against you... but you're convinced it will always go back to +100 for you.

But what do you do if one day it doesn't?

You never had a losing trade... you always shot for +100 pips...

you made 400 pips in october... so this means so far you made 4 trades and none lost... if I did not missunderstand all that... to me this is not significant poof of a good way to make pips.

Don't get me wrong I wish you all the best in trading. I'm just trying to understand if your suggestion is something I sould try out or not.

Regards

[[Deleted]]

I always wonder about the long term viability of trading with no stops whatsoever. 400 pip as a stop seems like enough flexibility without a trip to the poor house. What if I was expecting the EURUSD to go back to 0.9000? "I'm only 3000 pip under! it will come back soon!" I was testing the Sashken EA from the championship and it was going great... until it hit one loosing trade. From 10k to 26k, hovering around 11k now from one trade.

Murrey math is reliable, but Murry himself gives regular warnings to use stops. He also lists the % chance things have happened historically, some 75%, some 95%. It would take several hundred trades to come up with an accurate statistic - which is why we use backtesting.

Thank you for sharing details of your strategy CMC. I would not adopt the "no stoploss" philosphy for the reasons given above, but I'm interested in trying out your trading rules. It looks like 100 pip profit is about 1.75/8 of a MML for GBPUSD?

[cmc]

Hi Colbru,

I thought your question would come up, I should have expalined myself better, the Oct/Nov examples are a recent snapshot, I've been trading like this for just under 1 year, successfully with a live account. I've been trading for about 2 years live with about another year on demo. I've tried many strategies. The biggest problem I've had is the stop loss.

To Daraknor,

Like I said, I hope that I don't get caught with a monster run against me, which wipes me out. If I closed my account now and started again with another $1000 I'm so far ahead, I don't really care. The chances of that happening are very real, but also, not very often. I'm still working this out myself, but maybe taking all the profit once per year or every 6 months will ease the pain if that ever happens. Also, don't forget I have very good margin in my account, and have seen the forex market swing back from very big runs many times. MM tells us when those runs have a good PROBABILITY of turning around. The idea is to reduce the chance against us of a bad trade as much as possible. I've tried using other indicators to give a signal once MM hits the extremes, but they are all too late, or too open to various conditions all happening at once. I need a completely machanical system which doesn't require much attention. I watch the market nowdays through genuine interest, which takes a lot of pressure off. I know there are other traders out there under the same stress I used to be under. I used to never trade without a stop, only to see time again it get hit TO THE PIP then turn around and go the direction I was initially in. That was soul destroying. Try trading with out stops on a demo, with small amounts of money, it is an unbeliveable feeling of freedom (if you find a winning system) I had to get used to it too, but will never use a stop again. Don't forget guys, supporters of this thread have faith in the MM system, just need make it work for you.

Good Luck

CC

[Hadrys]

Hi CMC,

as you wrote, best idea is to keep it simple!

However I've recently started to use stops Durring the summer I've got stabbed counting on a pullback and it finally came 3 months later but before that historical heights were hit... with SL even with MM I wake up in the morning or go out knowing that I can only loose xxx$ or BE and get only suprised by the profit. Also had 95% or more good trades but there came one and wiped me out so be carefull... good hunting

[cmc]

Hi Hardys,

Well noted, we play with fire, please attached recent MM trade

Best Regards

CMC