Possible Murrey Math based Ea?

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ForexMan75
Posts: 3
Joined: Sat Nov 26, 2011 11:14 am

Possible Murrey Math based Ea?

Post by ForexMan75 »

Wondering about input on a Murrey Math based Ea. Like Pippo, but with less overall potential for bad things to happen, at least in my mind, as they would all be running with stops....
What it would be is very simple.....
The only levels we really care about are -2, -1, 0, 1, , 7, 8, +1, and +2.
At the -2 through 1 levels, we take out a buy limit order. Each of those orders' stop is the -2 level plus say 10 pips. But, each of those levels has a different lot size. Each of those levels' order has a take profit of say level 2 or level 3. If one of those orders is hit and takes profit, we start over again with new orders.
My problem is that I can't even fathom the number of times I've seen the pricing at those more extreme levels shoot to the other end of the spectrum. We would be using no breakevens, no trailing stops, nothing of that nature. A straight stop and a straight, but selectable level of take profit.
Thoughts?
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