Mouteki's system is largely based on Thomas DeMark's system. It's not original, but it does seem to have captured the attention of the people in this fourm.
Good on ya...Mouteki.
Extremely well put Akuma! It hasn't been that long ago that everyone was hog wild about the Vegas systems, and the same thing happened. Many started modifying the system and adding indicators. Now there is nothing wrong with this, provided you have traded the original system extensively before making changes to better fit your trading style and your personality. But the problem is just as you so eloquently stated it. Newbies seem to have this irresistable urge to modify every new system that comes out of the starting gate. A week or so after the Vegas excitement started, Vegas sent me an email and asked rhetorically, "Why is it the first thing new traders do is change the system?"
I had been trading Vegas 4h Tunnel Method for nearly 8 months before it hit the Factory. I had traded it in it's original form for 4 months before I started making minor changes to make it suit me.
Newbies, I love you guys, and I want so very much to see as many of you as possible succeed, but do yourselves a favor and resist the urge to change a system within ten trades of being introduced to it.
that was part of my point and thats why i chose to add the stoch to mine and i found that going agents the grain would reslut in lesser chance to win
so we all know mouteki system is largely based on DeMark's system that did't cause anyone to get on the soap box about modifying that.
Mouteki is just supply and demand! We've been doing this forever! It's the same thing with parameters! It's Econ 101 with simple rules! Why complicate it?
Anyone trading on less than a 4 hr chart (i prefer daily) is dancing with the devil
why a newbie would trade a 15min chart ...i'll never understand.
A question for you Grammarians and/or English Majors. I can't remember this. What is it called when a phrase is taken to the extreme in order to emphasize a point?
It's never the method...It's always the trader...
While the literal truth is:
It's rarely the method...It's nearly always the trader...
I frequently say:
Individual trades are meaningless.
Where the literal truth is individual trades do have some meaning but it is irrelavent when compared to a long string of trades.
What is the word? What is the name for extreme statements made to emphasize the point.
Nice sig btw. It clued me in as to why my first stint at trading was unsuccessful.
1st things 1st.
I agree if your trading on retail platform w/ 3+ spread it would be extreamly hard to trade on 5min time frame... but w/ all the proper tools it can be done successfully
My 2 cents
I'm a newbie and still around because of FF. I don't profess to be any good at this but I'm getting better due to the lessons learned here.
I gave up contributing to the original Mouteki thread simply because of the comments made there. Few read the documents properly, others asked 'did it work on one hour charts' etc. Others gave me sh*t for trying to keep the thread in some kind of order.
It may sound arrogant, from someone as new as me, but I gave up trying to help. God knows how Dial, Jim and Fiji maintain their sanity.
I watched you try to keep order upon that thread...good try, you can not please all....
I gained from your insight and patience and would like to thank you.
I gather your current stint is more succesful?
You're a great guy Peter. Thanks for being here!
I believe my thinking is evolving, though. I took a $3k practice account to $4500 with this week's trading, and at least I realize from this example that I probably have some money-management issues (instead of thinking what a great trader I must be ).
The same One who gives me the ability to get wealth is the One who's helping me get my head screwed on straight.
The next best thing
I have found several methods to apply to my trading from FF. They work for me. When I was starting out learning how the different platforms worked and learning about forex, Akuma99 was there to help. His blog and advice are well worth the time. His methods, I found do not match my trading method, but understanding them helped.
I have had many successful trades using the Mouteki method, It works for me. I followed the thread for the first few weeks then, it got tedious. Nobody reads the threads from start to finish. They all want the instant solution. The same happens on most new systems. They get over developed. It is a fact of trading you will lose some trades. There is no indicator you can add to correct this. You can stick with a simple method and use Risk analysis and Money Management to make it very profitable. Your charts could be naked or like one of my youngest kids drawings after getting a new box of crayons, it is you and your management style that will win or lose.
I would like to Thank both Akuma99, Mouteki,and many others for all the help and insight. I am looking to go live soon and the help I got from here has been amazing. I hope in the future to be able to contribute more than silly rants and some tech advice.
Best of luck to all,
no doubt... one thing i think mouteki did was bring back some basics look how many people couldn't even draw a support line... You deff have to crawl before you walk...
I started using mouteki method little more than a week ago. I read the whole huge thread (1800+ posts) and so far the only thing that I do differently from moutekitrader is I use the demark_trend_new to mark the highs and lows I draw the trendlines then by myself, so basically I follow moutekitraders rules by the book and will continue to do so. This weeks results for me are +237pips profit, 5 out of 16 trades were losers. I am more than satisfied with these results so my opinion is that stick to the rules and you will do just fine. I hope that nobody finds this post insulting or offensive because that was not my intention.
That the key mate finding what works for you.
I think this explosion of the search for the filter and making mouteki a holy grail, was generated by moutekis silence. I ofcourse am ok with that, but it seems some actually demand from him to explain his trading style further, which by the way he shared for FREE. He is not obliged to say a word. He shared his method, well most of it, but probably he laughs his ass off now as he sees the remaining pieces of his system, torn apart with the latest and newest indicators. Out of 1000's of traders who will try the method only a small percantage will know how to trade it, and that is by following the rules. I'm not saying follow the system blindly, but don't change it, only adjust it if you do. Don't change it more than a small piece. Most will continue the search for the grail.
Oooh lump in the throat time..
A lot of us first came here to take what we could, and it's the ethos of this place that converts us into 'givers'.
Anywho, enough of the mutual back-slapping, on to see if my trade on EURCAD is still heading in my direction.
© Forex Factory