Is Trading With Murray Lines “Pure Crap”? You decide.

One of the readers of my last article on Murray lines (who identified himself as ‘Guest’) had commented that he could draw any line anywhere on the chart and the price would respect it and that unless there was something which told him that the price would indeed reverse at a specific line, then it was useless…i quote him below,

‘If you draw a bunch of lines on your chart after every specific small interval, it will always find support or resistance. Can it identify with a good probability where a pullback is going to occur? Otherwise, it’s a pure crap.’

I respect his opinion and i do understand what he is talking about. But in trading, there is no hard and fast rule that will make us money. The beauty of trading lies in the fact that there are infinite ways of making money and there are also infinite ways of losing money as well.

I could tell you 10 methods or strategies and prove to you that all of them work. In fact, all you need to do is just search the net, find the most popular strategies and you can see that it works. But i can call a 100 people and give them these 10 methods and i am sure that not even 5 people would be profitable after 6 months.

Why? Because trading is as much about finding a good strategy as it is about money management,discipline and psychology. Each one of us is different (thats why we are humans and not machines) and thats why even if 10 people were to trade the same method, their results would always be different in the long run.

So coming back to the original point, no , murray lines do not tell you when the price would reverse. They just give you regions where price might reverse. Then, you need to come up with your own strategy (either you have an oscillator or an indicator or can use just price action) and combine that with patience and discipline to find where you can buy and sell.

By Karthik Subramanian Follow Karthik on Twitter.

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  • Smitak111

    a good sense of humour is essential to lead a happy life….may the Fed be guided in the right path…Amen

  • u never know Juan…maybe he has a very good system himself and he is very happy with that.,!!

  • hi, the link can be found in my first post… can indeed be used in forex as well…

  • sure Pat…will tell in the coming days/weeks…

  • Thanks Andy…my pleasure…

  • juanman

    Good comment Karthik. That “Guest” know next to nothing about Technical Analysis.

  • MM

    please i’m still a little bit new to the business and i’ll like a little more explanation about the murray lines if u don’t mind cos i’m hearing of it for the first time. thanks

  • M.Jadidi10

    i downloaded MML indicators from the link provided at this page and now i would like to know more how i could utilize it more effectively?

  • Dkoster77

    Hi Karthik, I found your thread on FF and I am really enjoying it. Keep up the posts. Thank you.

  • Anonymous

    please give me the link again its not a scrap i attends murrey maths free webinar wed-friday only that i dont understand the greeks as it seems to me an english student..
    thinks its for stocks and futures if i can use it on forex please let me know and if u can help futher more

  • thanks…hope u have good success with it…

  • Dkoster77

    Karthik, I never heard of Murray lines until these articles and now I am using them in a demo system. Since it is new to me I intend to take it slow however I do see how they are acting as SR regions. Thank you for your articles and I look forward to more.

  • Patricio A.

    There will be people looking for a perfect system that tells when to buy or sell, but in fact, after a many hits on the floor I undertand that psychology, mm and discipline are the key factors to become profitable. The best system is the one that fits good with you, period. By the way I like the murray levels, go ahead Karthik and tell us the rest of the recipe 🙂

  • Andy B

    The number of different tools and indicators can be overwhelming when starting out trading and it’s just a case of identifying the ones that suit how you want to trade and then mastering them. I hadn’t heard of Murray lines until I read your article and for that I thank you for taking the time to tell us about them.

  • yes, thats right and i highlighted this fact right in the first depends on how best u can make use of it !! as i said, hammer can be used to destroy rocks and also make it into a sculpture depending on who uses it…

  • Paul

    Your last paragraph said it all, and your point is further emphasised by the sentence: “They just give you regions where price might reverse”.
    That applies to pivot points, psych-lines, murray math, fibonacci, trend-lines etc etc. These lines are NOT barricades! Just higher probability price reaction lines.
    Just my opinion.