Quoting trader416Dislikedllambert3, I don't see a short there ??
Also, what is that one simple filter ?Ignored
Complicated - The Trading Song for Unsuccessful Traders! lolz 1 reply
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Mouteki Filters 67 replies
Quoting raytracyDislikedI also have the low win rate problem (below 20%). The most situation are trend reversal after break signal, or price go the right way for a while, but cannot reach TP then touch SL.
I will post my setup to see is some thing wrong there, here is a EURCHF failed setup:
http://www.raytracy.com/fxsetup/EURC...ailed-sell.gif
I use InterbankFX data feeded as GTM+0 time zone.
BTW, I would like to do a lot of backtest, but I just try to using MT for few days, and trying to understand the MQL4 language in beginning. Is there any out-of-box EA which I can use for backtesting Mounteki method? Can I launch the indicator .mq4 as EA for backtesting?Ignored
Quoting trader416Dislikedllambert3, I don't see a short there ??
Also, what is that one simple filter ?Ignored
Quoting llambert3DislikedWe are only trying to improve our trades based on a great method that Mouteki decided to share. We do have to accept losses and try to get bigger gains, I agree. Since Mouteki can't or decided not to share exactly the system he uses, we must try to better our trades for ourselves. I see nothing wrong with that. We noticed, and some pointed out, that some of Mouteki's charts he ignored some points on the charts and why he possibly did that, and even some reversals. Maybe he can't share that because he is getting paid for his strategy somewhere else, I don't know. I haven't read that from him. Maybe we are test subjects to see who eventually gets it..LOL
However we decide to use Mouteki's strategy at this point is up for grabs. And here on this great forum, we are sharing anything we can find to filter out bad trades. We can't win them all, that is a fact. We are just looking at the trades we lose to see if there was a reason behind it. Maybe it is news, but maybe it is something else Mouteki couldn't or decided not to share. That's all.
After a year of fighting and looking for a strategy to help me trade, this is the only one that gave me hope. Just responding to why we are doing what we are doing, at least in my mind anyway. Certainly not trying to be rude in my post, so please don't take it that way.Ignored
Quoting llambert3DislikedCould this have been a failure because the open candle above the trendline didn't go higher than the previous? Even though the next candle (which fooled me) went higher? Possibly. I won't take another trade like this, but at least mine was a hedge against the gbp/usd, so it isn't all that bad.. HEE HEE
http://picnac.com/images/7199eurusd.gifIgnored
Quoting dofDislikedLOL,
it failed because it failed. You can have all the confirmation and can fail.
You might trade with no confirmation and you can have a winner.
For me it didn't loooked good... The same way it went down it could have went up.Ignored
Quoting Horace KentDislikedI'm short the GBPUSD, and long the USDCAD, stupid I know, but I'm demoing right now trying to figure out the meaning of life, etc etc etc. Here's what I've found, and it is rather significant I feel.
Trendline breaks. I have been looking at them. There are different types of break. For now, lets just categorize them into two families.
The first, and in my opinion, more unreliable break, is the horizontal break. In this scenario, price almost gets 'pushed' over the trendline, but is either moving in a horizontal direction, or is moving in a direction opposite to the break. Perfect example, the USDCAD break, this morning. This trade is -24 pips right now. Notice how price was trending up in the 12 hours preceeding the break, and there is no conviction in the move across the trendline:
The second family of trendline breaks are always welcome. They are vertical breaks. This is where price, like a knife, pierces the trendline in a manner which is convincing. Usually the break candle is a continuation of a previous move, though not always. What is important is that instead of simply being pushed over the trendline, price appears to crack it with certainty and resolve. Picture, words, thousand, here it is, the GBPUSD break today, right now up 40 pips:
Thoughts, as always, are welcome.Ignored
Quoting Horace KentDislikedI'm short the GBPUSD, and long the USDCAD, stupid I know, but I'm demoing right now trying to figure out the meaning of life, etc etc etc. Here's what I've found, and it is rather significant I feel.
Trendline breaks. I have been looking at them. There are different types of break. For now, lets just categorize them into two families.
The first, and in my opinion, more unreliable break, is the horizontal break. In this scenario, price almost gets 'pushed' over the trendline, but is either moving in a horizontal direction, or is moving in a direction opposite to the break. Perfect example, the USDCAD break, this morning. This trade is -24 pips right now. Notice how price was trending up in the 12 hours preceeding the break, and there is no conviction in the move across the trendline:
The second family of trendline breaks are always welcome. They are vertical breaks. This is where price, like a knife, pierces the trendline in a manner which is convincing. Usually the break candle is a continuation of a previous move, though not always. What is important is that instead of simply being pushed over the trendline, price appears to crack it with certainty and resolve. Picture, words, thousand, here it is, the GBPUSD break today, right now up 40 pips:
Thoughts, as always, are welcome.Ignored
Quoting llambert3DislikedHorace I don't see a usd/cad trade setup. Can you post your chart?Ignored
Quoting llambert3DislikedApparently you guys are ignoring the heading of this thread. I am not soul searching here. This thread was created for those of us that are trying to come up with a better system. You can just ignore our posts on here if it makes you happy.Ignored
Quoting llambert3DislikedOh, I thought you were posting examples from the past. Plus you didn't title them... Please forgive...Ignored
Quoting dofDislikedDude, relax
you got it wrong. You said: it failed BECAUSE... That was funny for me.
I gave you some examples of filters. The idea was that you can have some good filters and still fail. First you have to know this, admit this otherwise you will go crazy in your search.
For all my trades I use 3 filters: divergence/hidden divergence, overbougth/oversold and feeling.Ignored