The Murrey Math Trading System - page 51
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100 pips
Will short the GBP @ 1/8 1.9775 CMC
hi CMC
im interested in your way of using MM. the question i have is what if price has already been to the 1/8 lines before?
like cable is coming back down from the +1/8 will that make a difference?
i seem to remember that once a MM line has already been breached the first time it loses it power so to speak. is that true in your experience?
First result: EURUSD
scale = 64
fractal = 1.5625 (no currency correction)
offset = 4
This means that the 4/8 lines below and above are treated as 0/8 and 8/8 lines. The Murrey Math Manual clearly states a 10000 fractal base on page 39.
On other MMTS charts I confirmed 10000 base fractals. This is weird :/ I'm going to email Julie.
Stop giving your money away, trade with confidence, trade without a stop.
The only reason you should put in a stop is because you have NO FAITH in your trading approach.
CMCHi CMC,
some time ago I wanted to comment your posts that SL is a must have but... things changed because I couldn't figure out how to set stops that will secure my ass and not trigger by accident and fall back to the previous level in minutes. Now I trade no stops at all and finaly no loosing trades, just huge profits! Now I keep a short on Cable because I've missed a reversal - what was I thinkin? Had to take my 80 pips profit or at least open a long and see what happends. But hey, I've made it, they reversed exactly where they should (about -170 pips on my position so hell of the loss) and now I'm between 50-100 pips loss which should turn into profit tommorow
Murrey Lines + Fibo retracements (.618 for Cable) and that's all what you need! I only set SL to break even if the profit is good enought and they could reverse sharply.
Happy pips hunting
Differences in H4 screenshot
Hi Adam,
I use H4 charts but the same would apply with M30 charts, I exit on the first blue dotted line and look for another trade. My settings on the blue line are 40,5,5.
Xard777Hi Xard thanks for the reply. I'll do this in future.
One thing though that maybe you can explain. In comparing your H4 Pic and mine (using the same indicators package) I have big differences. For instance you have a blue line (and red) going from 1.9463 to the high at 1.9727 on the H4. I do not. If I was trading the H4 period I would not register 1.9727 as a turning point on either blue or red indicator.
Also, the prices on the blue line zigzag and red are slightly different:
going across the pic you have blue at 1.9846 (mine 1.9841), red at 1.9615 (mine, I don't have a red signal at this turning point) red at 1.9728 (I don't have a red signal here) blue/red at 1.9463 (I have blue/red 1.9466) and then 1.9727 (mine same as yours but on H1 and lower, not H4)
Do you have any idea of why this is and what I can do to correct it - I'd like to trade these larger H4 turning points, but can't if they don't show up on the screen.
I have #ZigZag1 Blue set for 40,5,5 and #Zigzag1 Red set for 20,5,5 straight out of the box defaults with FXDD as broker.
Thanks
Adam F
Market Profile
Coincidence again I suppose
Market Profile
---------------------------------------------------------------
Trading MM: Hello!
Could you please send me your market-profile indicator, please.
Thank you!
Sincerely,
rswamy4449
It's NOT mine
https://www.mql5.com/en/forum
post #6
It's NOT mine
https://www.mql5.com/en/forum
post #6----------------------------------------------------------------------
Trading MM: Hello again!
Thanks a lot.
I had read and watched the chart examples, through market profiles.
It's awesome!
Until I saw your post today, I didn't even know that this indicator existed for MT4.
Thank you for this help!
Sincerely,
rswamy4449
Hi Xard thanks for the reply. I'll do this in future.
Thanks
Adam FHi Adam,
Sorry, the pic I put up is different from the indicators I previously posted.
Working on new version...which displays current octave +/-4/8ths.
Thats why figures differ.
Xard777
Regarding which software to use, and which one draws accurate lines, we should have an authoritative answer that is 12 hours old and from the mouth of Murrey today. I have screenshots of EURUSD, CHFJPY, JPYUSD. I won't be able to confirm GPBUSD. I have a hunch what he does with currencies but I'd rather check first.
hi .daraknor
thank you for your answer.