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Mouteki Trading

I just shorted on the current candle at 1.8817.
Expected to go south as far as 1.8675?!?!?!? WOW!

Will keep this position (its winning swaps per day) so its ok to hang on!
I kept my long but i am getting hosed right now.
Dammit! A short I didn't take. Shoulda woulda coulda, blah blah blah:
Attached Image
Money in the bank:
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Quoting jumper
If everyone says it is a sell, then it is a sell!
Short @1.8813 one pip under the low of the previous candle, that penetrated the demand line. About +40 now, The projection target is around 1.8664, but I will prolly consider retire around the 61.8 fibo.
I suspect it will turn tail soon. Tomorrow is Friday and we have our friendly neighborhood carry traders.
I am JuMPeR.
Quoting allen.benjamin
I have a question, I am using IBFX and I have been changing the colors of candles and lines within the charts, when I closed the station and reopened it I had to redo all the work I had done. Is there a way to save the work I have done so that when I reopen IBFX I won't have to redo every chart? Thanks.
Hi allen.benjamin,
When you finish setting up your chart, right-click on it, choose Template and than Save Template... give it a name and click Save. When you open next chart, right-click on it, choose Template and pick your template from the list.
Quoting Horace Kent
You're right llambert, but it worries me because of NFP tomorrow. I really despise big news days.
Horace, where is the faith man????? Gotta have faith in your system. The target can hit before tomorrow's NFP when it will reverse.. Ever thought of that?
Quoting milan47
Short @1.8813 one pip under the low of the previous candle, that penetrated the demand line. About +40 now, The projection target is around 1.8664, but I will prolly consider retire around the 61.8 fibo.
Woo-hoo, you got in at a good price! I am just +22 only.
I am JuMPeR.
Quoting jumper
In such a situation where a trade would run to its projected profit target if its SL has not been modified to +10, I would say it is really a case of the devil or the deep blue sea.

If the trade can hit target, it can also turn tail and wipe itself out at a loss. If you are game enough, go ahead and leave the position's SL unchanged even after it has reached +40... and attempt to ride the wave all the way to the projected end. Whether you succeed or not, only time will tell. But if you want to play it safe, shift your SL to +10 as recommended and a strong trend will still ensure you reached your PP. I have personally encountered trades in both cases so I know the plethora of feelings that might grip you there and then.

I know this is cliche... but ultimately, it's still your call.
Ofcourse, I was showing that per pure mouteki, this trade is not +186 pips but +10 pips.
Hi,

Bad day for Eur/usd. S/L was hit and i go long after opening candle above line... I am to Mig / GMT+2

Now is going long again So i respect i think the S/L that Mouteki give us but in case of news do you think that we need to adjust it ?

Oxyd

http://picnac.com/images/5606eurusd.JPG

http://picnac.com/images/6858eurusdup.jpg
Quoting BurgerKing
I just shorted on the current candle at 1.8817.
Expected to go south as far as 1.8675?!?!?!? WOW!

Will keep this position (its winning swaps per day) so its ok to hang on!
I took the sell, but at a 8798..the time difference strikes again! Oh well, still currently +40 anyway!
Quoting jumper
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...

Very interesting...I will have to read up more on fractals as well. Thank you to Nipper for his insights to my straddle question as well. I know it is difficult to decide S/L and T/P though with this strategy. I like nipper's suggestions though. Will play around with that in my demo for now.

So far the straddling is working on the GDPUSD probably due to news. But I am wary of how long effects of news last...and the fact I can't be at my computer when a pending order may get hit on either side. I hate using trailing stops too.

Let me know if anyone else has any strategies or comments on straddling supply and demand lines.

Thanks so much!
EggyJ
Quoting TheWicker
Ofcourse, I was showing that per pure mouteki, this trade is not +186 pips but +10 pips.
Relax dude, it's just a comment. *roll eyes*
I am JuMPeR.
No long signal happened on my timezone.

Long USD signal about to occur in 4 minutes for USDCHF, similiar/same for EURUSD (short eurusd), needs 2-5 more pips as opposed to swissy which is already over.

However, swissy above 1.2550 could turn out VERY fragile, so I don't know if either is going to be prudent, esp. considering NFP tomorrow.

Caveat emptor
Trust price. Know yourself.
Yes you're right there. And now I'm up more than 40, so either way, its a winning trade.
Quoting llambert3
Horace, where is the faith man????? Gotta have faith in your system. The target can hit before tomorrow's NFP when it will reverse.. Ever thought of that?
Quoting Horace Kent
Dammit! A short I didn't take. Shoulda woulda coulda, blah blah blah:
Hi can you explain for what blue line at 221.71 is used?
It is intersection of vertical line and demand line but what does it indicate?

thanks
Well well my stop loss finally hits, it was too fishy holding that long cos' strong news from US about unemployment rate, im still remember a friend told me that mostly market moved by news especially US news, well that was a very strong news i think cos US Unemployment Claims was surprisingly drop below consensus 302K vs 315K forecast.
Quoting nini
Hi can you explain for what blue line at 221.71 is used?
It is intersection of vertical line and demand line but what does it indicate?

thanks
The difference between this intersection and the highest high gives the projected profit target...
I am JuMPeR.
Quoting Ricx
Well well my stop loss finally hits, it was too fishy holding that long cos' strong news from US about unemployment rate, im still remember a friend told me that mostly market moved by news especially US news, well that was a very strong news i think cos US Unemployment Claims was surprisingly drop below consensus 302K vs 315K forecast.
Yes yes it hit. I lost too. Not sure if you are even looking at the filter thread, and I do believe as well the news hurt it, but barring fundamentals, take a look at what I posted here.

http://www.forexfactory.com/forexfor...031#post113031
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