1. open daily TF draw Mouteki
2. open 4hr TF draw Mouteki
3. open 1hr TF draw Mouteki
Put Fibbo from previous week
Put Stoch 14,3,3
If Mouteki in 4h give a signal for entry, i always look at stoch at daily.. is it overbought/oversold or not... if not, i entry the market..
ussualy the line of mouteki in daily tf can be our target profit. price often hard to break on that support/resistance level
sorry i forgot
I forgot to explain my chart
Pink Line is Mouteki 1hr
Blue line is Mouteki 4hr
Orange Line is Mouteki Daily
Mouteki is SIMPLICITY in TRADING.. but it needs FILTER
MOUTEKI + GREAT DISCIPLINE + GOOD FILTER = HOLY GRAIL ??
i hope so
The issue with systems isn't whether or not the market changes. By and large, I think the markets stay the same. The issue is how well does a system react to market cycles. These market cycles are what, in my opinion, traders call "market changes". I don't think the market is changing in these cases, I think it's just in a particular cycle type that the particular system does not handle well.
I'd suggest taking a really good look at the Mouteki failed trades and see if you can find a pattern in them that could be corrected to turn trades into B/E or winners.
Anyway, just thought I'd throw out a dissenting opinion.
Another rebel weighs in.........
I agree! I have been using the same trading strategy since the first of this year. There are times when it performs better than other times, but it always performs well, as long as I DON"T CHANGE THE RULES! I consider this to be a reaction to the cycles stockwet refers to. I read somewhere recently, (just wish I could remember where), that it is possible to trace patterns and cycles in the stock market back to it's beginning (over 100 years). History does repeat itself, on both large and small scales. If as traders we take this into consideration, we can trade profitably, minimizing the losses and maximizing the profits by understanding and working within these market cycles.
How do you plot the 1HR and Daily on the 4HR TF? For the prior weeks FIB, do you draw them in or how do you obtain it?
i think it's very simple.. Open a single GBPUSD chart, on tf 1h draw mouteki trend line... then change chart's tf to 4h, and draw mouteki.. change to daily, then draw mouteki
for drawing Fibbo... just use high and low from previus week
I am still testing the system trading lightly. I am doing this mostly to give myself time to work on complimenting systems I can use with mouteki as well as filters. Though I can say this, I have been averaging 250 pips/week trading rough Mouteki system. Now because I trade 4 pairs I have to trade lighter, though... I like diversification in all my trading systems. Right when you believe EUR/USD is the bad pair, it gives you an entire move that GBP/USD didnt give to you.
Filter for Mouteki method...
I have gone through nearly all post here as i am a lil bit new here.As i was reading through,something just came to my mind.As anyone tried the vegas 4 hour tunnel before?I think using only the weekly chart analysis to identify the current week trend could be of a great help.I really think if u have a demand line breakout while you are also in a bull week,the signal might be a lil more stronger and vice versa.Will be waiting for more suggestion from you all.
I'm busy testing that approach right now
I am glad this guy shared his thoughts, and I can understand him not wanting to spend all day teaching. He did his part. Unless he purposely left out something, and we will never know, it is a very good starting point if nothing else.
I just read an article by a respected forex "expert" who said price can lie, but momentum tells truth. He likened it to a poker player who plays the player and not the cards. Moutecki says opposite. I suspect they both are right to a degree.
I personally am going to look hard at opening up 2 lots (or .2), and have a profit taken at one point, and leave the other one run with a trailing stop. After all my research on this forum it looks like this is the best strategy.
Remember- This is counter trend strategy when looking at possible filters. I am going to look a momentum filter.
Are we better off the guy showed up? I think so.
Remember guys, a 50% system can make you a whole lot of money. I would say Mouteki is between 60-70%.
not profitable yet
i watch 9 pairs on 4 hour charts. when i get a signal i switch to another profile in metatrader that has a week, day, 4 hour and 1 hour chart with Mouteki trend lines for that pair. i too have noticed that the trend lines on the 1 hour and daily chart effect price action. i am also drawing lines at areas of support and resistance. in addition, on the day chart i have a semi-vegas 24 EMA with fib channels so that i don't take a signal at what will probably be the end of a move. with all that, my plan is to take only the signals that have room to move (50 pips). but i find that i am making mistakes. i take an entry after i think i have checked everything and then find something seemingly obvious that i missed. and perhaps i am setting my trailing stops a little too tight. end result, i am losing most of my trades. since i am trading small lots until i start making money it is not breaking the bank. any suggestions?
Hey guys, just a quick question, for those of you trading 'mouteki', on average how many signals do you get per week/month? I know it'll obviously change week to week, month to month, but I'm curious. Thanks.
For what it worth
I have noted that if you enter the trade at the alert/open price, more times than not you will get a min of 20 pip move and not see move against that would stop you out at 10 pips. Most recently you can check the US/CHF, GBP/US and EUR/US moves last night and today. My point is that if you take the Mouteki plan as he scripted it and make no deviations there is a better chance of making pips. And with proper money mgt / risk to reward you should be profitable.
Number of trades/alerts
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