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Murrey Math
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Created: by Big Mike Attachments:73

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Murrey Math

  #211 (permalink)
Trading Apprentice
Boca Raton, FL, United States
 
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64 vs 32

I've been studying the material that's been posted here on Murrey math lines and it is intriguing. I use Sierra Charts which has a MM indicator.

Does anyone have an opinion as to whether it should be set to 64 or 32 for intraday trading?

Thanks

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  #212 (permalink)
Elite Member
canton mi
 
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Big Mike View Post
Here is a 60 minute ZN 09-09 chart showing 6/12 to 6/16.

Attachment 269

I've colored my chart the same way as the above graphics are illustrated to try and make it easier.

There are a lot of lines on this chart, but that is because I widened the view to show you more of the MML's. In a normal view you would see less lines because price is so far away from those lines they don't need to be on the chart.

I don't normally have a 60 minute chart up. However, I was noticing that by stepping back and looking at MML from this perspective, there was a lot more correlation with price against the MML's than say there was on my 6765 volume chart, which is normally my biggest chart for trading the ZN.

I was happy with the correlation of price and MML at this time frame. The MML's did a good job at each pivot/reversal, with the exception of the last move which is not seen on this chart. The penetration of the 6/8 line (magenta) should have not reversed until the 8/8 line (blue). Instead, it reversed at 7/8 (yellow). Now, if you advanced the chart a few more hours (off the screen shot), you will see price did move up to 8/8 like it was supposed to.

Clearly, trading solely based on MML is not an option. More researched is needed.

Mike

the MEF entry indicator prints wrong colors when set to false on calc what custom regression are you useing and or can you help me fix this one ivan the one who posted it has not responded i dont know if he has benn one since 2010

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  #213 (permalink)
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Gallatin
 
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The Reason You're Failing with MML


All these indicators I'm seeing in the thread only have the horizontal price lines. One of the reasons everyone is struggling with the application of Murrey Math principles is the price is only a part of the trading decision. You must also include the time lines (which I have not seen on any of the indicators), or the speed lines, or any of the other components.

I'm new here but trading MM since 1999.

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  #214 (permalink)
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Hi Jeff
I am intrigued by your post........ "trading MM since 1999"
Please show us a chart of what you are talking about.
kind regards
bobc

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  #215 (permalink)
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bobc View Post
Hi Jeff
I am intrigued by your post........ "trading MM since 1999"
Please show us a chart of what you are talking about.
kind regards
bobc

Sure. I'm attaching something from my first training with Murrey in '98. This is his EOD software back then. Here you will see an example of how time is divided into 1/8ths, just as price is (the MML everyone seems to be familiar with).

The division of time helps also to then measure the speed-you might refer to this as slope-and also to provide a relative benchmark for the meaningfulness of the movement in price. As an example, a 7/8th move is significant, but not if it happens in 7/8th time.

There are some other factors at play, e.g., the tendency of reversals off of certain time lines, and of course, the circles of resistance. Movement of the security will tend to avoid those circles of resistance.

Attached Thumbnails
Murrey Math-dx8u.091598.gif  
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The following user says Thank You to jefftheconsultant for this post:
 
  #216 (permalink)
Trading Apprentice
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I found this thread looking for more info on MM. Great info.

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  #217 (permalink)
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FX Grinder View Post
I found this thread looking for more info on MM. Great info.

Fx Grinder
Go and read post 209 before you spend a lot of time with MM
regards
bobc

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  #218 (permalink)
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bobc View Post
Fx Grinder
Go and read post 209 before you spend a lot of time with MM
regards
bobc


Thanks for pointing this out.

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  #219 (permalink)
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FX Grinder
Heres a link to trading with levels How to Identify Support and Resistance Levels on a Stock Chart
bobc

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  #220 (permalink)
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bobc View Post
Fx Grinder
Go and read post 209 before you spend a lot of time with MM
regards
bobc

This is an example of what is known in logic as a "red herring". As I pointed out in my original post, trading with Murrey Math cannot be reduced to merely price lines, nor can you prove anything by anecdote.

I would grant that understanding all of the rules of MM, or applying them consistently in a market, is more difficult than the typical strategy peddled to traders. But then, most of the strategies peddled don't really work.

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