The Murrey Math Trading System - page 59
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Hi Guys,
Happy New Year!
How you going trading MM?
Have 2 trades in for the new year
Short CAD @ 1.1780 1/8
Short JPY @ 1.1953 1/8 (has since reset itself)
CMCHappy New Year to all!
Doing fine cmc, just doing fine ;-)
Regards.
Hi Guys,
Have hit my 100 pip profit on the short CAD trade
Still waiting for the short JPY trade to behave itself
CMC
Dear xard777,
Hi...I am new in this thread. Seem nice to use this indicator as Dolly use it too.
Below I quote from article posted by nesalc about MM (in this thread's page#3) :
"1. Sell at 7/8 line, buy back at 4/8 line.
Use stop loss at 8.3201/8 line.
2. Buy at 1/8 line, sell at 4/8 line.
Use stop loss at -0.3201/8 line.
This will work the majority of the time.
These factors will increase the odds:
1. Previous move 5/8 or more.
2. Double/Triple bottom on 1/8 or 7/8 line.
3. Higher low on 1/8, lower high on 7/8"
What does the 8.3201/8 line and -0.3201/8 line mean ? I have inserted #00MurreyMath-TimeFrame indicator but I can't see these lines.
Actually, which version of this MM indicator we must use since there is also a new indicator named #MM-TimeFrame-2007? Why the value of 1/8 to 8/8 line differ between these two indicators for the same timeframe?
Another question, what is the best time frame to use MM indicator?
Thank you for your answers.
Rgds,
Pierre
Alerts
HI
I am fairly new here and to trading and very much like this MM system. In one of the templates (##uti foro) posted here that I use there is included in the template the attached indicator and I was wondering if I am at the right place to find some kind person to modify it. What I would like is for an alert and an email to be sent when the Yellow line crossed the White and visa versa. I think the colours are different in this indicator. It would also be nice to have these switchable on and off. Sorry if I have posted this in the wrong place. Thanks in advance
Have gone short the GBP @ 1.9775 (1/8)
CMC
Have exited the short GBP trade for 100 pips
The CAD is flirting with the 1/8 @ 1.1780
Will re enter the GBP if it hits 1.9775 again
CMC
Usdcad
Nice trade cmc on gbpusd...I am also watching usdcad. As you wrote, it is flirtting with 1.1780. I'll be a bit careful this time, it might want to go for +2/8 level @ 1.1841. Hourly candlesitck patterns would be a good clue. Good luck.
Frank
Murrey Math
CMC
Just read about your short Gbp/Usd trade & wanted to say I captured
88 pips on that same trade using Murrey Math. I have followed your
postings throughout this thread & must say I agree with your views on
setting stops. In the beginning of my forex trading days I was hit
many times until I figured out what was happening & now the only stops
I place are in my mind. Things (gains) are much improved now.
If I might ask, what version of Murrey Math are you using @ this time?
I have downloaded several versions from this & other sites & am
currently using the MM# LabelLevels version. Would taking the
training from Murrey & using his software be worth the cost, as I
have considered doing so.
Tks for you time & view on the method.
"1. Sell at 7/8 line, buy back at 4/8 line.
Use stop loss at 8.3201/8 line.
2. Buy at 1/8 line, sell at 4/8 line.
Use stop loss at -0.3201/8 line"
Dear all,
Could somebody tell me please what the 8.3201/8 and -0.3201/8 line means? I got above statement form MM[1] document posted by nesalc in this thread page#3.
I have downloaded some indicators of MM line from this thread i.e.#MurreyMath-TimeFrame, MM-TimeFrame_v5, MM-TimeFrame_v504, #MM-TimeFrame-2007. Why the MM line value from these indicators differ each others? Which one has the most accurate value of MM line? Which one do you recommend to use?
Thanks for your answer and recommendation !
Rgds,
Pierre
Hi $trader,
Please see my post 348 for the version I use.
Re your question on paying for training on the MM system and software would it be worth it, probably the answer would be yes.
I would love to see his software, the circles of conflict etc, I would like to see him offer a 1 month free trial, that would win me over.
Regarding his teachings though, I would hate to get bogged down in a sea of technicals, and baby lines, and various bounces, extensions etc . My method of trading the MM extremes is very very simple and yet highly effective.
I've said this before, probably the reason is because it stops me overtrading.
I find, that if there are too many trading opportunities, then I start to loose money. I only have a few trades per month, I can set an entry order (an order in advance to trade at a certain price) then a limit order (another order to take profit, always at 100 pips) this negates the need for me to constanlty be a screen jockey.
I don't have to use signals, get woken up in the middle of the night (Sydney) or have any trading stress at all.
The main reason that I would like to use the original MM software is to have accurate readings i.e the versions we all use are adapations of the original.
After another successful trading year by December, I will probably buy the software anyway, because I really would like to know if his readings are very close to mine or not.
Re FrankC comments on the CAD, I've looked again at these charts, and although there is frightening room for it to keep moving up, I don't think that the price of oil has bottomed yet, this will keep pressure on the CAD.
Also, on the daily and weekly charts, it is still in a severe bearish channel.
If I get kicked in on a short trade and it breaks out of this channel (along with a rebound in oil) I will have to look at taking a loss.
I agree with you though, this one could be a overly risky trade.
Does anyone else have any thoughts on the CAD?
CMC