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Can you help answer these questions from other members on NexusFi?
This platform is something that I trade with on a daily basis. I put it up in order to share with others what I do. It is a simple straight forward system. It is there for the taking. If traders have questions I am happy to answer all, but there is no point in making a thread alive just for the sake of it. I hope my thread has helped people trade. If you have some specific question please put it on the forum and I will answer.
I (+ many I believe) am very grateful for Perry's generous sharing + support whenever we have questions. I've been using the first version (the one with SMA 40 purple dash line) since mid Apr. It certainly complements my system and offers me higher probability trades.
I highly recommend your watching it in action and adapt or adjust it to meet your trading style. Enjoy!
Thanks again for all the info, It's a great help to a newbie like me. I tried the setup today that you described in post #70 and haven't quite got my head around how to use the Murrey Math lines with the system.
The Murray MAths lines are use as support and Resistance. Mainly if you have taken a trade, and are approaching a MM line, then either take partial profit or exit the trade, as price action usually stalls or turns on a MM line
As an idea for to keep this system + trading-style alive and transfer it to the current markets
traders who work / want to work with this methodology can open an own thread in our journal-section.
Name it related somehow like : journal - perry-style -- or so ....
there you can start posting your charts with comments + trades + initialize a discusion to this.
it must not be real tradet stuff - its also good for deeper learning + finetuning the understanding of a system if this is done regulary over some time before going live with it.
just post a explaination the system you are using, define the rules for the system + mark the entrys / trades / situations in the chats + post it .
You are most welcome Xev. When I came across the Murrey Math indicator, I did not know how to interpret the different levels. The pdf did help and I have a cute card with the different levels (simplified version) in my trading station so that I can refer to them on an as required basis.
I have no programming experience at all. Have you made any progress with an audible alert when a setup bar meets all the conditions? I think that is a very good idea. To properly identify every valid setup bar with a visual or audible alert would eliminate the guesswork. I wish I had the programming knowledge/skills to help.
Trading Method 1:
Long Entries:
1. The EMA(20) - the coloured line - must be going UP. Colour = BLUE
2. The EMA(5) - the black line - must have gone UPat least 2 Bars or more.
3. The Setup bar LOW must be LESS than or touching the EMA(5) and the Setup bar HIGH must be greater than the EMA(20).
4. Confirm that the ForceIndex = BLUE.
SHORT Entries:
1. The EMA(20) - the coloured line - must be going DOWN. Colour = RED
2. The EMA(5) - the black line - must have gone DOWN at least 2 Bars or more.
3. The Setup bar HIGH must be GREATER than or touching the EMA(5) and the Setup bar LOW must be less than the EMA(20).
4. Confirm that the ForceIndex = RED.
Maybe ThatManFromTexas would be willing to help us out with the alerts. I feel many would benefit and greatly appreciate it.
I did not trade the arrows marked on the chart. I am simply trying to identify the proper setup bars.
I am not trading or even have time for screentime observation these days due to a health condition in the family.
