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Mouteki Trading

Quoting eggyj
Hi All...

First of all, thank you to Mouteki for showing us all the light! This is an awesome trading strategy and am looking forward to following it closely.

My question was this for all you experienced ones out there...have you tried just straddling around the supply and demand lines? In other words, placed pending orders in both directions you think the price may break? We all know we have to look at the candle that breaks the trendline and the one after it... So could you enter pending entries say 20 pips above/below the s/d lines?

Could be completly off on this thought so please correct me if you see pitfalls to this additional personal trading style.

Thank you in advance for your wisdom!
EggyJ
It's a very good observation. As a matter of fact, very often those Supply/Demand lines will create a consolidating triangle. And, this pattern is quite typical of a breakout scenerio. I have used a "straddle type" strategy with an OCO for breakout type scenerios. I've had limited success though using this technique. I found it was difficult to locate the placement of the OCO "stop". The risk is that you may get a false break in the wrong direction. The market comes up/down grabs your "stop" and reverses for a large move in the other direction. So, that is one of the pitfalls of using this technique. It works well if the market follows through and makes a significant move in one direction. But, if there is some volatility (eg. a news release), I found it to be quite risky. You can experiment with it to see how it goes, but I'd recommend only do it in a demo account first. I tried a "variation" of this strategy on last months NFP release. I was initially biased towards a downward move (we know NFP are going to breakout regardless of direction) So instead of placing the "OCO Straddle", I went short before the release in anticipation of a move down. I had a pending order in case the market went in the other direction, where I put a "stop and reverse" order in. In other words, I would take the 20 pip loss on the initial order and have a buy order in. If the price makes a significant move (say 60 pips as eg.), then my 20 pip loss would be offset by the 60 gain for a net of 40 pips. It ended up working in my favor, because the NFP moved down (I think for about 80 pips gain) and my "stop and reverse" order didn't get triggered, so I simply canceled it. Like I said, experiment with it in a demo account first to see how it goes before trying it with real money.

Hope this helps answer you question.

Nipper
hi..


...you cant call it an entry if its part of the 5 bar setup pattern. you would need to wait for the next bar...

Is this right ..?
Actually EggyJ, what you are suggesting is similar to playing fractals. The only "trouble" with this is the difficulty of placing SL and TP. One way to play fractals may be to put a buy above the up fractal, with SL at the down fractal; and likewise another short below the down fractal, with SL at the up fractal. If your SL is not too far, thus resulting in an agreeable R:R, then you have a neat trade. But I am digressing...
I am JuMPeR.
Quoting Angler
hi..


...you cant call it an entry if its part of the 5 bar setup pattern. you would need to wait for the next bar...

Is this right ..?
If the 5th candle opens above/below the supply/demand line, then the 5 bar pattern will be broken and the supply/demand line invalidated...
I am JuMPeR.
hi...


I understand what your saying Jumper...it just does not make sense to me..

Why when the S&D line is drawn only after the close of the 5th bar based on its high or low would the entry invalidate the 5bar set-up.
Should have listened to me when i posted above at this point! I think this guy's got more steam to him and is staying on trend to drop down to 149.10/20 range. I could be wrong, but until it's momentum swings again and it croses the on-going trend, hopefully we can ride this horse to the ground. Attached is a copy of the chart from this afternoon and its results.
Attached Images
Quoting Angler
hi...


I understand what your saying Jumper...it just does not make sense to me..

Why when the S&D line is drawn only after the close of the 5th bar based on its high or low would the entry invalidate the 5bar set-up.
Maybe I am answering the wrong question... forgive me if so.

Otherwise, take a look at the chart below, paying particular attention to the red demand line. At the first point of support, we have a 5 bar pattern, with the support having the lowest low. Imagine now that at the most recent bar, price dropped drastically within this 4h period and the blue bar becomes a red one instead, with its low lower than the low of our current point 1.

In this case, the 5 bar pattern is thus no longer valid, point 1 thus no longer qualifies as a support, and the red demand line is hence invalidated.
Attached Image
I am JuMPeR.
See the circled portion below... now we no longer have a 5 bar pattern that has an extreme low between 2 higher lows on each side.
Attached Image
I am JuMPeR.
The hourly seems to look ok, according to the approach currently being tested in http://www.forexfactory.com/forexfor...ead.php?t=8691 .
Attached Image
I am JuMPeR.
Hi All,

I am studying the difference between CET and GMT charts as they are the two that I use most often.
I made the study on Doppy because of the LTLB earlier this AM.
I thought you might like to see the results and ascertain which chart is more accurate?
I have a niggly feeling that the banks use GMT.
Attached Images
Quoting Tulkas
Yasir,

Open the "Market Watch" icon (2nd from left on the tool bar), click the "Symbol" tab, right click in the orange area where the prices are and select "Show All". The NZD/USD should show up...

hey thanx bud.. but that didnt work.. i tried that already.. any other suggestions?
BECAUSE I CAN !
Quoting mbqb11
yas if you are using sbfx you cant get that many pairs, i suggest spottrader for their mt4

mike
hey mike..
umm where do i get tha tfrom?? and is it the same thing as MT4?
BECAUSE I CAN !
hi...


Yes Jumper...there was a little confusion about the question I asked..but thats ok....and I do agree with what you wrote in the next couple of posts...
there is a new long signal on gmt time
Attached Image
Quoting YasirYar
hey mike..
umm where do i get tha tfrom?? and is it the same thing as MT4?
hi YasiYar

in this post you can see some brokers with diffrent timezones. if you want the same timezone as SBFX is than you need to download the gmt+2 platform(and MIG has a lot of pairs). all are mt4 brokers.

http://www.forexfactory.com/forexfor...4&postcount=83
Quoting YasirYar
hey mike..
umm where do i get tha tfrom?? and is it the same thing as MT4?
It uses mt4 platform.

http://www.strategybuilderfx.com/
I'm still waiting for mine to come, probably happens in the next four hours or so.
Quoting ART_1_
there is a new long signal on gmt time
*

mine havent confirm yet,...

http://img144.imageshack.us/img144/2276/pic1aj4.gif

bar close in 6 minutes.

*

we will get announcement today at 6.45 pm and 6.00 pm My GMT +7 time it means*around ±1.40*minutes*from*this*post.*and*trichet*speach*at*7.30*pm*which*is*

means*±3.10*minutes*after*this*post.

*

and new bar (after this bar) will be end after 4 hours means its 8.00pm then if

market moves after trichet speeches it will be too late to get in on this one for me. thats what im thinking... should i get on the ride now or... just wait... i wonder which best timing to do it.

another new signal its open above the supply line,*buy*signal*generated.
http://img172.imageshack.us/img172/38/pic1kb7.gif
Quoting kateeus
I'm still waiting for mine to come, probably happens in the next four hours or so.

yep. till now the signal only appeared on gmt time. the other 3 timzones did not have a signal till now...

EDIT: i min ago closed gmt+2 candle and it was a very barely break of the trendline.
Attached Image
hi..

This is my version of the Eur.. the bars below the arrows have the same high lvl.
Attached Image
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