GBP/JPY +495 EUR/USD+121 GBP/USD+511 EUR/AUD+409 NZD/USD+308 ___________ Total +1844* *Does not include pips from accumulated interest, I don't have time to calculate this. My estimate is that it adds about 10% or about 184.4 pips. Current Positions USD/CHF B 1.2661, 1.2611, 1.2539 Limit 1.2800 -34pips (includes 10 pips accumulated interest) EUR/GBP S .6690, .6707, .6754, .6795 Limit .6700 -400 pips (includes 50 pips accumulated interest) The modification of the system last month to ignore signals which didn't earn overnight interest hasn't hurt this months pip totals. This, in spite of my narrowed exit levels which I changed to clean shop early in anticipation of my vacation. I won't be opening any new trades until November. Good luck trading in October everyone! I'm sure the volatility will only pick up from here...
Excellent results, saki. I'd say you're definitely on to something. Enjoy your vacation. I look forward to watching your journal progress when you get back.
but i calculated GBP levels for September from August values..and i was using that Wednesday night..and i thought how come we have stopped in the middle of a murrey level.. i recalculated murrey levels and gpb made it to 17954ish which was the exact level that stopped the decline... My question: how often do we recalculate? thanks I am still incredulous to the fact that price on stocks and currencies react to these murrey Levels...this is the holy grail that i have been looking for.. do all professional traders know of this? i am not.. Euro is in the middle of a level right now not sure why though?
you need to register for the group...but i tried to load that image here and was either too big or not correct type..and i reduced it made it black and white but to no avail...Indonesia is my favorite place in the world for the money...2$ rooms and 50 cent beers.. tell me where we should load images..and i will thx again for this eye opening experience...it works on stocks beautifully..for NEM and $HUI index sweet...
I recalculate the first day of the new month, or when the -2/6ths or +2/6ths levels has been severly violated. So USD/CAD needs to be recalculated. The current 4/8th for GBP/USD is 1.8125, this is the top for today so far. I hope its wrong, I hope we see the 8/8th soon at 1.8437, but, as I am not the market.... A fairwarning to you, Murrey Math is NOT the holy grail, it can be wrong as often as its correct. The correct implementation of the system is not as a reversal system, but a trend following system. I have modified this to suit my personality and by only trading with the daily trend (via overnight interest rates) As far as I know, DAIMYO also was created for trend following. I can't seem to get in touch with the creator. I don't know why presently the markets are following the Daimyo and Murrey Math levels so well, especially GBP/USD, but they are. Others have suggested its because we are in a huge consolidation phase. Nevertheless, there have been some very large swings this year and the system has handled them all. Currently my EUR/GBP trade is sitting heavily underwater, but the 8/8th level is still yet to be touched, I have sell limit orders there to take my final position on the trade. There was a new sell signal generated by Daimyo last night, but it has yet to bear fruit. Thanks for the Indonesia advice. I'm going to Cambodia and Thailand. I'll be taking part in some meditation courses. Since most of my income is from trading, I consider my life a vacation these days intersped with random bouts of work so now when I go on vacation, I try to do something productive for the soul! By the way, did you modify the Daimyo in your chart? It looks quite different than what I seem to use. You can probably post your charts in color at moneytec.com as I don't think they have the same size restrictions as elitetrader. However, I wouldn't worry too much about the color
Sorry, this is incorrect. Daimyo indicated a sell and 8 hours later, EUR/GBP hit the 8/8th level at .6875 and has since began to reverse. However, the trade is still down a bundle, about 490 pips. I have added my final position to this trade today. I was feeling very confident last month and tried to anticipate the reversal that never fully materialzed and instead of taking small losses when the DAIMYO trended down to oversold, I held on. The system, according to the posted rules of exiting off of Daimyo, registered a small loss twice last month, about 40 pips in total.
Can someone point me to how to program the Daimyo indicator? I find it referenced all over, but cannot find the code. Thanks in advance.
I know NOTHING about coding, so please refer to the http://www.visualtradingcharts.com/forum/ website if this is incomplete in any way. MAF := Mov(Pr,tPr,mt); MABk:= Mov(Pr2,tPr2,mt2); HL200 := mov(ref(H,-1) - ref(L,-1), 200, S); MADiff:= (MAF - MABk)/HL200; {*5000;} MADS:= (mov(MADiff,tpr3,mt3)); PA:= (C > ref(C,-2) and h > ref(h,-3)); PAh:= (C < ref(C,-2) and l < ref(l,-3)); BSSig:= PA - PAh; BSIGL:= BSSIG; This is the description associated with the indicator. I cut and pasted it directly from the installed file. Please realize that I don't use the indicator in any way resembling its orginal intent. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> This indicator consists of a MA Oscillator and what I call a simple "Buy/Sell Switch". Since MA's and their Oscillators lag the price, I wanted to insure that the very recent price activity was consistent with the direction of my entry so there's some price strength in the direction of my entry. What I don't want is to take an entry signal when the price is currently moving against the direction of my entry. Although this can often be observed easily on the chart, there are times when it can't and I want to rely on the indicator math in those situations. I find the "switch" helpful in giving me a clearer picture during periods of increased volatility. Also use it for reentries during a trend pullback as it will flip to zero or even the opposite line and then I reenter when it flips back again as price movement "proves" itself in the original direction. Key: 1) Long Signal Bar occurs when the Oscillator breaks above the Blue horizontal trigger line (Buy Line) and the green Buy switch is up. Enter on the next bar if the Oscillator is still above the Buy Line and the green Buy Switch is still up. 2) Short is opposite of above but when Oscillator crosses Red Sell Line. 3) If Oscillator crosses buy or sell line but "Buy/Sell Switch doesn't confirm at that time, wait for Switch to trigger again. This will be your signal bar and then enter next bar if Buy/Sell Switch is still active. 4) On a retracement, the switch will flip to the zero line or even reverse to opposite side. If trend resumes in original direction, the switch will flip back and this is your reentry signal. (Price will typically have proven the resumption of the trend when the switch flips back.) 5) An aggressive entry can be used if the Buy/Sell Switch has 3 or more bars in the same direction of the Oscillator as it crosses the Zero line. In this case your Signal occurs when the Oscillator crosses the zero line rather than waiting for a Buy/Sell line cross. G inthe_now@hotmail.com >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Please refer back to previous posts for the actual VT indicator, its a zip file entitled daimyo2.zip I arrived in Thailand today from Cambodia. Cambodia is one of the poorest countries in the world, yet I have never seen so many joyous people in my life. Amazing place. Words can't describe the feeling of seeing people live so differently, and without electricity no less. Yet, they still had huge smiles when a stranger came into their view. I'm not talking about the places where tourists go, but in the deep deep countryside where there are still landmines from 30 years ago, these were the most joyful of the locals I saw. I'll be making some trades in the next few days if I see any signals. Trying to keep it light though.
Thanks for the information on the daimyo indicator. Another question pops to mind: Concerning the target profit levels. You say make the target the 4/8 mml. If you are considering a long trade, it is possible to be above that 4/8 level, so, in this case, would you add a full mml to arrive at the *next* 4/8 mml level? Same question applies with the stops on the quarter levels. Thanks in advance.