People pay other people to learn things that they cannot learn alone. For example, to me, it was logical to pay 5K for the tradestation open platform, learn easy language and write code to duplicate all these trading systems out there, the that worked well, I kept. The ones that worked a little, I modified so that they would work well. The ones that didn't work, went to the recycle bin. This feature alone has allowed TS to pay for itself, for I did not have to buy each individual software package. But for some, they needed to buy the software for the trading system itself because they cannot write code. Murrey Math is a very strong system, properly applied. Nothing can beat it intraday. Only a strong cycle anaylist could out perfom it on the larger time frames. For simplicity, it is also unmatched. But I am willing to put up or shut up, hence the trading session with marketsurfer.
MM is very difficult to backtest. The reason is that the best MM system IMO uses multiple time frames, that would be a bear to quantify for the best coder out there. The frames shift as price occilates(sp). Personally, I do not believe in mechanical systems. The market is dynamic, so the system should be as well. The method I will be demonstrating on Monday will be my own personal application of MM, which uses multiple time frame correlation to trigger trades. I do not know if Murrey himself endorses this, as I found it unnecessary to go to his classes. The book and learning CD were enough for me.
i understand, odd. i am certainly open to the more esoteric TA methods. my application of gann is certainly not "traditional". for some background on my trading www.marketsurfer.com and click on "daves wave" tab. see you monday ! surf
For some reason, I missed your web page when I first decided to issue this challenge, but it is good to know that I was accurate about your status as a top gun. You are a Gann trader. I know many Gann traders who are critical of Murrey for his style, but not his work. What exactly to you think the fatal flaw in MM is? Or do you simply have an issue with the presentation? BTW, thanks for MSFT!!! It a BEAUTIFUL scalpers stock.
odd, its the bizzare claims of murrey and his people that i have an issue with. i have stated this several times on this thread but have not recd a response. best, surfer
oddiduro - do you know if there is any way to get into TraderBambu's PalTalk room as a "watcher" for a day ? I promise to say nothing.
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I used to have Traderbambu's method for getting into his trading room, but it has been so long, that I have forgotten. Go the yahoogroup mmxapp and register. Traderbambu can be reached from there.
Okay, I hear and understand what you are telling me. But your analogy is inaccurate. Murrey does claim that his system is the only one needed to be a successful trader, and that is correct. Murrey claims that he made improvements on one of Gann axioms, and that is also correct. Murrey claims that his software is all you need to be a winning trader, that too, is correct. Now, of course, I am presuming that you would not be critical of someones work without having tried it first, right? That would be VERY much like being critical of a car you have never driven, but has several satisfied customers. Do you have any of Murrey's own words to use against him? Several of his articles can be found at Traders World. If you can post some of Murreys rediculous claims, that are in print, that would greatly enhance your credibility on this subject.