I'm sure we are all familiar with the Mouteki System and DeMark's trendline breakout system. If you are not, either do a search on FF for "Mouteki" or drop me an email [email protected] and I will send you the files.
This journal is to document (yet another) trading journal dedicated to the DeMark/Mouteki method, with a personal tweak. Although I will mostly follow the method in my trades, not all trades will be taken. I am going to attempt to apply a simple filter to the breakouts to avoid false breakouts. Obvioulsy, this will also keep me out of some good trades.
Stop losses and profit targets will generally be the same as what's thought in the Mouteki method. Depending on the validity of the breakout, some trades will either be taken with tighter stops and profit targets, or avoided completely. I will not trade every break. I will only trade marketbreakers*, and like how Mouteki started his sharing, I will follow suit by not throwing everything out in my first post.
If you have any questions please feel free to ask, but please stay on the topic. Oh, and I am quite sensitive to negativity so once we get to the point where people start bashing this thread, I will stop posting... so let's enjoy the love while it lasts
[Edit] I have decided to actually trade this on a spare FXCM mini account with $500 balance lying around to give it a little bit of realism.
*Just a name I give to valid breakouts, don't take this too seriously
This journal is to document (yet another) trading journal dedicated to the DeMark/Mouteki method, with a personal tweak. Although I will mostly follow the method in my trades, not all trades will be taken. I am going to attempt to apply a simple filter to the breakouts to avoid false breakouts. Obvioulsy, this will also keep me out of some good trades.
Stop losses and profit targets will generally be the same as what's thought in the Mouteki method. Depending on the validity of the breakout, some trades will either be taken with tighter stops and profit targets, or avoided completely. I will not trade every break. I will only trade marketbreakers*, and like how Mouteki started his sharing, I will follow suit by not throwing everything out in my first post.
If you have any questions please feel free to ask, but please stay on the topic. Oh, and I am quite sensitive to negativity so once we get to the point where people start bashing this thread, I will stop posting... so let's enjoy the love while it lasts
[Edit] I have decided to actually trade this on a spare FXCM mini account with $500 balance lying around to give it a little bit of realism.
*Just a name I give to valid breakouts, don't take this too seriously
