MurreyMath
- Thread starter traderbambu
- Start date
>>
ok,rule of thumb, short when it is at 8/8 line, long when it is at 1/8 line, the odd suppose to be on your side. This is a very simplistic view but we have to start somewhere.
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Actually, the real basic version is as follows:
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.
This will work the majority of the time.
These factors will increase the odds:
1. Previous move 5/8 or more.
2. Double/Triple bottom on 1/8 or 7/8 line.
3. Higher low on 1/8, lower high on 7/8
If you do just that and nothing else you will make money.
Secondary Approach ( also works, but less profits ):
1. Buy at 0/8 line, sell at 2/8 line.
Stop loss at -1.3201/8.
2. Sell at 8/8 line, buy back at 6/8 line.
Stop loss at 9.3201/8.
The rest is learned over time.
PS This is like anything else - your return is directly proportional
to the time and studying that you put in.
ok,rule of thumb, short when it is at 8/8 line, long when it is at 1/8 line, the odd suppose to be on your side. This is a very simplistic view but we have to start somewhere.
>>
Actually, the real basic version is as follows:
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.
This will work the majority of the time.
These factors will increase the odds:
1. Previous move 5/8 or more.
2. Double/Triple bottom on 1/8 or 7/8 line.
3. Higher low on 1/8, lower high on 7/8
If you do just that and nothing else you will make money.
Secondary Approach ( also works, but less profits ):
1. Buy at 0/8 line, sell at 2/8 line.
Stop loss at -1.3201/8.
2. Sell at 8/8 line, buy back at 6/8 line.
Stop loss at 9.3201/8.
The rest is learned over time.
PS This is like anything else - your return is directly proportional
to the time and studying that you put in.
People shouldn't confuse the absurdity of Murray the man with the Gann ideas he tries to lay claim to. In principle, they're not substantially different from the basic idea behind using Fibonacci %s to trade.
But because Murray's such an obnoxious hypster, it's easy to dismiss the basic idea outright - even by people who probably use Fib or simple 25/50/75% retracements in some form.
MM is in large part a money management system. You can apply it to any similar system such as Fibonacci retracement, Gann So9, Gann Division of 8, etc. The levels from these different techniques are often quite close, especially when you build in the slop of +/- MM level spacing. In addition, as with all of these techniques, you can usually improve performance by using them together with other techniques. Murrey takes a simple approach to this that will work, but arguably can be improved upon with other TA.
wally,
here is a quick and easy way to "prove" the absurdity of murrey math--choose ANY set of fractions that alternate from one to the other in the same manner as murreys--you know 1/8th, 1/10ths--whatever. lay these lines on a chart--- WOW isn't it like magic ??
I took a one week course on Elliot Wave a couple of years ago and came away from that totally convinced that out of fifteen students there were fifteen ways of reading Elliotwave and I was 3000.00 thinner in the wallet. So when I heard of Murrey Math I was very skeptical as to its validity. After joining a room who's leader was very familiar with MM I noticed he and several traders were making money everyday trading Eminis with MM and decided to stay and trade equities with my method. After watching for about two weeks I finally got thru my thick skull that there was a lot more to this than meets the eye.
I then decided to take Murrey's course in Tampa this July. It cost $938.50 for his six day course plus Air Fare and Lodging. I have paid Murrey nothing since the class as you do not have to use Murreys software to trade the MM method. After I returned from class I paper traded ES for about one month as Murrey suggests. (all i personally trade now is ES).
Since that time I have consistantly made money trading ES and using MM. High day was 35 points the usual is from 5 to 10 points. Some but very few losing days.
In his class Murrey say he has figured out what Gann was trying to say in his book. He gives Gann credit at every turn but has his own interpretation of parts of his book. Whoever said he stole Ganns method you are dead wrong.
Now for those of you that knock Murrey and Gann I say this, you are obviously totally ignorant as to how Murrey Math and Gann work. If you read all of the notes in this chat room and devoted a little time learning the basics as you should have you perhaps would understand a little better.
And last but certainly not least if I had read all of the negative, and misleading information that has been posted on this site by obviously opinionated and uninformed individuals I more than likely would not be using Murrey Math and more importantly would not be making near the money I am now.
The point of this letter is to ask those of you that are posting ignorant and egotistical opinions to stop. Of course Murrey Math is not for everyone but for people like myself it is a great trading tool. Let traders find out for themselves if it is right for them. You are definetely not qualified to do so!
Warmest regards, Michael Harrington
I then decided to take Murrey's course in Tampa this July. It cost $938.50 for his six day course plus Air Fare and Lodging. I have paid Murrey nothing since the class as you do not have to use Murreys software to trade the MM method. After I returned from class I paper traded ES for about one month as Murrey suggests. (all i personally trade now is ES).
Since that time I have consistantly made money trading ES and using MM. High day was 35 points the usual is from 5 to 10 points. Some but very few losing days.
In his class Murrey say he has figured out what Gann was trying to say in his book. He gives Gann credit at every turn but has his own interpretation of parts of his book. Whoever said he stole Ganns method you are dead wrong.
Now for those of you that knock Murrey and Gann I say this, you are obviously totally ignorant as to how Murrey Math and Gann work. If you read all of the notes in this chat room and devoted a little time learning the basics as you should have you perhaps would understand a little better.
And last but certainly not least if I had read all of the negative, and misleading information that has been posted on this site by obviously opinionated and uninformed individuals I more than likely would not be using Murrey Math and more importantly would not be making near the money I am now.
The point of this letter is to ask those of you that are posting ignorant and egotistical opinions to stop. Of course Murrey Math is not for everyone but for people like myself it is a great trading tool. Let traders find out for themselves if it is right for them. You are definetely not qualified to do so!
Warmest regards, Michael Harrington
michael,
could you please post your trades utilizing the murrey math method ?
thank you,
surfer
could you please post your trades utilizing the murrey math method ?
thank you,
surfer
It would be great if you posted more meat here in future. How about some calls that we can verify? I have a good system that I will most likely make available to others. I mentioned a few times here that I made money using it and it was quite a number of points (10 ES pts one time, some 18 pts some other time). That's only one of my systems, but it's my favorite because it is very simple and still makes money. Anyone who ever gets to know this system can trace back its calls and see that I did not lie. It would be great if we could verify calls based on MMs teachings. How about that? I would say it's fair enough, don't you think so?
BTW, $1000 may not be that much, but I like things that have somehow been backtested. I am not sure if MM really provides you with any sort of backtested information about his system performance. Does he?