The Murrey Math Trading System - page 75

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Hello everybody,

hello Xard and thanks again for your explanatios. I try your octaves by xard indicator, but it freezes mt4, it do it since the last build 303, not before.

any suggestions.

Thanks

 
bhale:
I came upon this idea last night, and thought I would share it. I don't use stop orders either. I trade very much like CMS in that I will wait for the price to come back. Sometimes I will add to the trade and set a breakeven or small profit target. I too have blown out my acct but learned very valuable lessons. Mainly trade with small amounts compared to your acct size. I wouldn't trade my way with full 100K lots unless I had $15K minumum. I trade 1 and 2 mini lots now with a 2K acct. I am proving to my self that I can do 12 profitable months before trading with larger amounts. I'm at 7 months staright. I have traded full lots, but blew out an acct I start at $3000, and ran up to 12K. Anyway, I trade the same way as cms, but I take smaller profits. I think I'll try to get 50 pips this ext week.

OK, enough rambling. About my idea. keep an amount in savings of 1/3 to 1/2 your trading acct balance. When you get into a danger zone of getting a margin call and losing 90% of your account, simply wire that savings into your acct. Don't trade or trade very lighly until that bad losing trade comes back. It might take a while, but from my exerience, it willl happen within 10 days. Once you're out of the position, wire your deposit back to your savings acct. All it costs is $25 each way and you can calculate how many pips you need to cover it. You can also use a credit card with zero balance, but a cash advance would cost you between $50 to $150 but it still is better than blowing out your acct.

You must discipline yourself to stop trading or trade very lightly and small till your bad trade comes back.

I know this is goofy thinking you can't have losses, but it is just my phsycological make up. At least I know this and I am willing to take steps to make it work.

Any thoughts? What do you think CMS?

Well you are using a stop loss, but the stop loss is calculated based on your account size. When your account is down more than the broker can get from you, they close the trade. Your real stop loss seems to be the amount of money you allow in the account. This is still a stop loss, but it won't work scaling up to larger account sizes at all.

You will always have losses, the forex market is not purely deterministic. There are people out there who actually live using these currencies, and their patterns (and policies) affect the value of the currency. You can't change that no matter how many accounts you loose. Besides, as Murrey said, why buy and hold for a profit of 1 point per share when you can identify 17 trades that all make over 3 points per share? 1 point per share, 51 points per share... hmmm I'm willing to take a loss if it means I can move on to the next winning trade that is 3 times larger than my current loss.

 

Timeframes are critical to using pure Murrey Math trading, but none of his logic seems to apply to the forex market. For stocks he only has the NY market to look at, and that is simple. For forex, he tries in the current version of software (Beta in December) to only use the NY market, and there are gaps all over. Worse yet, he says to trade the gaps with normal rules. He also uses closing bar over long term trades and makes recommendations that are good for stocks but bad for forex.

Murrey does 64 days based on 64 trading days in each timeframe. We have 5.5 trading days per week, do we count the 0.5 day? Murrey doesn't. Murrey's numbers are based on Gann's, who counted 90 calendar days. (quarterly seasons, earnings, harvests, etc) Since we have quarterly interest rates, it applies somewhat. Divide Murrey's number in 2 and you get 32 'trading days'. Do the same thing with Gann's number and you get 45 'calendar days'. Unless you strip Sunday from your chart and only count 'trading days' I would use Gann's number.

Inside the weekly market, things get bizarre. Broker's ultimately determine how many hours there are in a week (different Sunday start times). A base number for the main market is 22 hours per day for 5 days. This is based on counting the primary trade markets. We can also count 20 hours per day by chopping off the last 2 hours of NY or the early time with Tokyo. There is no official number, and your market volume *will vary*. How solid is the number you get from your broker? Not very solid, especially during low volume times (prime SL hunting time).

I pick timeframe where the size of the trade I want to execute fits on the screen. It is a stupid rule of thumb, but my efforts with my TerraFractal EA so far have validated it. I'm working on a formula to calculate effective lead times to market action based on scale and price volatility. I'll share insights...

Daraknor

mosad2:
Hi all,

I studied available material and texts that relate to murrey maths

but I still have some difficulties understanding the impact of time frame on MML calculations

I read 16 is good for indices and stocks

regarding commodities 32 is better

however as I was examaning two indicators one from VG and xard777

I found some difference is MML calculated and after some adjustments I releazied it was because of the timeframe ( as described by Murrey Powerpoint representations).

now I want to undertsand how to calculate these timeframes and what is best suited fore the fx market and different timeframes (1H , 4H ,dalies, etc...).

any references or texts are welcomed

also regarding the octaves, I wanna make sure tyhat i undertsand them right

octaves is the trading range the pair fluctuates in between 0/8 and 8/8 MMLs right?
 

Awesome !!!

xard777:
here is my chart setup for cable...

http://www.sendspace.com/file/4cy9x3

As usual unzip chart-setup.tpl file to metatrader4\template & the rest of the files to metatrader4\experts\indicators

restart metarader4, right click mouse select template then choose #chart-setup

Enjoy

Dan

Here is what it looks like...

Hi Dan,

Thanks so much for your great chart. It's really awesome !!!

I just downloaded the file from your link, and then installed it. However one of the file is missing. As I learn from TimeFrameAngles-v0.4 and TimeFrameSphere-v0.1, it seems that it need:

#import "TimeFrameLib-v0.3.ex4"

Could you post this file please?

Thanks Dan.

Cheers,

 

Wow!!! It works now. The first Murrey Math with Circle of Conflict in Metatrader!!! Am I right? Thanks a lot Xard.

Cheers,

Files:
xard777.gif  30 kb
 

Dear xard777,

Thanks a lot for all the work you done

The link you provided seem not reachable at this time

I'm waiting 30 minutes for the download ???

Do we need to login in to sendspace, in order to downlaod ?

Thanks

 

Xard thanks again for all what you do.

I have 1 questions, my screen is 1920x1200, all graphics are shrinked is there any solution like on "timeframe dan" to solve this.

Thanks a lot.

 

Thanks a lot !

Circles of conflict in metatrader, this is insane

 

My circles of conflicts looks strange

Do we need a lot of history ?

Because i just install this platform.

Thanks

 
Big Joe:
My circles of conflicts looks strange Thanks

Two things to do...

one, move the mouse over the right-side of the chart till it says "vertical scale", then hold down the left mouse button and pull the screen down to suit.

two, press f8, select common menu and click on scale fix so that a cross appears then click ok to accept. No hold down the left mouse button anywhere on the actual chart and pull down or push up to suit.

Xard777

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