The Murrey Math Trading System - page 74
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Thanks for your reply, i understand it well now. Thanks again.
This is great stuff, and I like what xard777 hs done. One question. How can I turn off the alerts?
Did anyone see the spikes the last hour? Jees!! Glad i wa out of everything. Reaction to Chinese currency news. Way overblown, and price will probably be right bac where this started come Monday. Someody made some money ad somebody got screwed.
WOw,
what is this count stuff (elliot gann ??). I see that you generally use octaves rather than timeframe, am'i wrong?
How did you get 7/8 @ 1.9714 on M15 ???
For me 6/8 with 64 square in time and 5/8 with octave.
Here i'am going long from 2/8 (bML 2/8) to 4/8 (1.1536). With pending reversal order from 4/8 (may be too confident in my strategy).
WOw, what is this count stuff (elliot gann ??). I see that you generally use octaves rather than timeframe, am'i wrong?
Yes, I use octaves rather than timeframes.
Is the count stuff elliot gann ??
Er...it's from post #803 which you just read...
The first sentence....will reverse off 3/8ths or 5/8ths inside any of his (17) different MM Trading octaves starting as low as Murrey's MBA: 0.00152587890625
On Thursday 29th March cable was reversing off a count of 3 (3/8ths) set to 0.00152587890625 (15.25pips x 3) and today off a count of 3/8ths & 5/8ths set to 0.0030517578125 (30.5pips x 3 & 5)
Remember how everyone complains when the timeframe recalculates and the octave doubles, well its just the same with the 3/8ths & 5/8th reversals... they simply double and keep doubling to suit the market conditions.
Last week when there was large movement it was still a 3/8ths reversal just set to 0.006103515625 (61pips x 3)
Xard777
Without stop losses
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?
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?
re MM
Hi Everyone,
For those of you interested in using mm indicators with Metatrader, why not try out the octaves indicator - its just mm based on the current price - no time, no shifting, no lookback period - just simply price. And because the lines are static you will be able to remember them more easily in the future.
Check it out....see for yourself.
ps enclosed a sample chart usdcad