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Thank you so much for sharing your indicator with us! It is a really great one. There is still one thing that keeps my head occupied - I can't understand the presence of a level "1.0000". It just doesn't match the information from any of the sources on MM that I have read so far. Is there any problem with that? Thanks a lot, once again, for this great release! Keep up the good work!
The Square is divided by 10 every time.
100'000, 10'000, 1'000, 100, 10, 1, 0.1, 0.01, etc...
The Parameters are divided by 10 every time.
25'000, 2'500, 250, 25, 2.5, 0.25, 0.025. etc...
so far it's the only sequence that makes any sense.
Xard777
Thanks Oneprint, that what I needed to know, makes sense now!
Re my short CAD trade I exited yesterday @ breakeven, it ended up would have hit my target last night for 100 pips, hate that.
AUD has hit the 1/8 @ 78.74
GBP came within 25 pips of the 1/8 and has since fallen over 100 pips
CMC
Hi CMC,
Thanks for sharing your MM file with us. I found it really useful. Kindly let us know your trading rules for trading MM lines.
regards,
VasuHi Vasu,
Please see posts 341,347,352,534,538 or send me a private message
CMC
MM question.
Hi CMC,
So based on your MM trading style, one buys at 1/8 with 100pips TP, and no SL.
EURUSD just hit 1/8 @ 1.3164.
Am I correct?
WOW.... Xard777.... Is the piccy normal ? Why the writing all cramp together ? Cheeers
Hi CMC,
So based on your MM trading style, one buys at 1/8 with 100pips TP, and no SL.
EURUSD just hit 1/8 @ 1.3164.
Am I correct?If you go long @ 1.3164 then a stop should be placed @ 1.3154
Xard777
If you have a profit management strategy in place you should also have a loss management strategy as well. Gambling with house money is fantastic except for one little factor - it's no longer the house's money - IT'S YOURS.
The quicker you realise this misconception the quicker you will realise PROFITS and not just 400 pips per month.
The Square is divided by 10 every time.
100'000, 10'000, 1'000, 100, 10, 1, 0.1, 0.01, etc...
The Parameters are divided by 10 every time.
25'000, 2'500, 250, 25, 2.5, 0.25, 0.025. etc...
so far it's the only sequence that makes any sense.
Xard777Well, what do you think about putting it in this way:
The Square is divided by 10 every time.
80'000, 8'000, 8'00, 800, 80, 8, 0.8, 0.08, etc...
The Parameters are divided by 10 every time.
20'000, 2'000, 200, 20, 2.0, 0.2, 0.02. etc...
Guess that this little modification wouldn't make things less "fractal" then they were in the original Murrey Math theory. On the other hand, numbers that can be represented as 8 * 10 pow N can be easily divided into smaller 8ths, so that the square will probably look neater. Don't forget the fact the the current lenght of the square in time can be represented as 8 * 8 = 64. I am going to experiment with this a little later...
Hope that you find any use for this idea. Thanks again for your great work!
I'm impressed... Xard777
The file you posted, the display does not come out like your charts - missing the banner at the bottom.
Profits
Hi Xard
You wrote:
The quicker you realise this misconception the quicker you will realise PROFITS and not just 400 pips per month.
End Quote
I find it also a little doubtfull to work without stops. But I'm surprised that 400 pips a month are not a PROFIT for you. I Guess you refer to this number because cmc reported to make this on average without using stops.
I'm sure that sometimes cmc's method will produce long time loosers.
What I mean by that is....having a drawdown of hundreds of pips over months or even years in one single transaction. But still he can continue to buy sell that pair at +-1/8 levels and continue to make 100 pips.
But I'd like to ask you following question:
If 400 pips/month is meaningless to you, would you mind to share your Method?
I'd rather try to make 400 pips/week (number just a guess) with your method using stops than cmc's method without stops...:-)
Thank you for your time Xard
Regards
You can't tell people that its ok to trade without a stop. What happens when the trade goes bad by 1000 or even 1500 pips....it's ok...hang on...that 100pips is just around the corner when the elastic band swings back.
A lot of traders maintain 1500+ pips every month by using tight stops and letting their profits run. cmc himself admitted going into the red by over 650 pips, with tight stops that could be 600 pips + 400 earned giving him 1000pips and that was just a few trades that he did that month.
Xard777