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

CMC,
Tks for your response. I also feel the price for Murrey Math would
be justified as I would really like to get a look & compare it with what we are
doing. You are so correct in saying it will prevent over trading. That is a
very positive aspect for myself. Since early December I have entered 15
trades with 1 loss, 1 closed flat because I was going out of town & decided
not to leave it running & 13 winners all using Murrey Math. For me that is
not too bad. Will also consider paying Murrey's fee in the near future.
Would be very interest to hear you views after you purchase the software.

It is good to speak with a fellow trader who holds the same views as I about
not using set stops. For me only mental stops & its been much better
trading & more profits. Tks again for for your response & views.

$trade

Hi Xard

I hope you are having a good start to the year.

I have a question if you don't mind. Is it possible to adjust the the length of the lines on the MM 2007 version you have posted so they are the same same length as the coloured period box?

Any help or what to do would be great.

Thanks

SP

CMC

If the MM chart you are using now with MT4 works, why bother buying the software? Just using the vendor software to confirm MT4 MM does not justify it not unles you feel that it may provide better entries or something.

Hi ET,

I agree entirely, there's just no point.
I would still like to see if his levels are the same as ours, but probably doubt whether my curiosity can justify the $4k or whatever it is.
It's unlikley anyone who has the software, and is using it successfully would be in any any kind of outside forum.

CMC

Have gone short again on the GBP @ $1.9775

Have gone short on the CAD @ 1.1803 (the sell signal was 1.1780, but I used the old high instead)

Have a sell signal on the CHF @ 1.2512 and have gone short with this also

Still badly behind on the JPY short trade

I won't be able to make any more trades (running out of currencies!) as this endangers my margin and the ability to ride out a bad trade

CMC

Hi, cmc!

Could you plese advise what parameters do you use in your indicator from the post 348? I have several MM indicators and they all differ on the charts.
Thank you.

Hi Maccavity,

If you copy the version I've posted, that's the version I'm using
Have you downloaded this and get different results to me?

CMC