Jumper's journal of Mouteki trading | Forex Factory

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Jumper's journal of Mouteki trading

  • #1
  • First Post: Sep 21, 2006 12:42am Sep 21, 2006 12:42am
This would be a "live" journal based on my understanding of Mouteki trading.

Disclaimer: This trading journal is in no way endorsed by Mouteki himself, and all gains and losses reflected here are not indicative of the potential of Mouteki trading.
I am JuMPeR.
  • #2
  • Edited 11:52am Sep 21, 2006 12:44am | Edited 11:52am
Long @ 1.2721
TP @ 1.2788
SL @ 1.2684

Update: refer post #6 for aftermath.
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  • #3
  • Sep 21, 2006 12:46am Sep 21, 2006 12:46am
Long @ 1.1464
TP @ 1.1659
SL @ 1.1371
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I am JuMPeR.
  • #4
  • Sep 21, 2006 2:30am Sep 21, 2006 2:30am
Long @ 104.04
TP @ 104.59
SL @ 103.49

N.B. This is taken off a 3h chart.
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I am JuMPeR.
  • #5
  • Edited 2:17pm Sep 21, 2006 7:51am | Edited 2:17pm
Short @ 116.69
TP @ 115.97
SL @ 117.41

Update: SL shifted to 116.59 for confirmed +10 pips since price has moved to reach +40.
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I am JuMPeR.
  • #6
  • Sep 21, 2006 11:50am Sep 21, 2006 11:50am
Quoting jumper
Long @ 1.2721
TP @ 1.2788
SL @ 1.2684
With reference to post #2... SUCCESS!

Net gain: +67
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I am JuMPeR.
  • #7
  • Sep 21, 2006 12:18pm Sep 21, 2006 12:18pm
Short @ 93.56
TP @ 93.16
SL @ 93.76
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I am JuMPeR.
  • #8
  • Edited Sep 22, 2006 1:11am Sep 21, 2006 12:23pm | Edited Sep 22, 2006 1:11am
Quoting jumper
Short @ 93.56
TP @ 93.16
SL @ 93.76
With reference to previous post #7... FAILURE!

Net gain: -20

N.B. I sort of expected this to be a failed trade but the gambler in me decided to go for it anyway since the price has retraced so much that I only need to place my SL 20 pips away. Well, lesson learnt: if there is no "obvious break" setup and a retracement has appeared so much so that the trade has become too good to be true.. it probably is too good to be true.
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I am JuMPeR.
  • #9
  • Edited Sep 22, 2006 5:40am Sep 21, 2006 12:25pm | Edited Sep 22, 2006 5:40am
Quoting jumper
Long @ 1.1464
TP @ 1.1659
SL @ 1.1371
With reference to post #3... I have decided to close this trade at 1.1469 after it has hovered for quite a while. I am developing a filtering system at the moment, and it is telling me price wouldn't go anywhere for the time being. I might be wrong, but hey, it is still in beta stage.

Net gain: +5
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I am JuMPeR.
  • #10
  • Edited Sep 22, 2006 4:14am Sep 21, 2006 12:27pm | Edited Sep 22, 2006 4:14am
Quoting jumper
Long @ 104.04
TP @ 104.59
SL @ 103.49

N.B. This is taken off a 3h chart.
With reference to post #4... SUCCESS!

Net gain: +46

PS.: I wanted to shift the TP to +10 after it reached +46... but I decided to just close it there and then at 104.50 since targetted TP is just 9 pips away. I think I will scream if I get stopped out at +10 when I am already so near my TP.
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I am JuMPeR.
  • #11
  • Edited Sep 22, 2006 1:54am Sep 21, 2006 12:28pm | Edited Sep 22, 2006 1:54am
Quoting jumper
Short @ 116.69
TP @ 115.97
SL @ 117.41

Update: SL shifted to 116.59 for confirmed +10 pips since price has moved to reach +40.
With reference to post #5... stopped out, NO COMMENTS.

Net gain: +10
Attached Image
I am JuMPeR.
  • #12
  • Sep 21, 2006 3:17pm Sep 21, 2006 3:17pm
Just saw this...interesting!!! I will take a look around...Keep up the good work!!!

Mouteki
  • #13
  • Sep 21, 2006 3:23pm Sep 21, 2006 3:23pm
Quoting moutekitrader
Just saw this...interesting!!! I will take a look around...Keep up the good work!!!

Mouteki
Thank you Mouteki !!! ;-)
I am JuMPeR.
  • #14
  • Sep 21, 2006 3:30pm Sep 21, 2006 3:30pm
Just a quick question. On the EurUsd trade why did you decide to take profit so far short of the target value?
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  • #15
  • Sep 21, 2006 3:42pm Sep 21, 2006 3:42pm
Quoting Uphios
Just a quick question. On the EurUsd trade why did you decide to take profit so far short of the target value?
Sure, questions are always welcome.

The projected profit is 103 pips, but I only aimed for 67 pips. This is because my foray into forex has taught me to err on the side of caution. Instead of insisting to take the full 103 pips, I am happy enough to take 2/3 * 103 = 67 pips. This is the only modification I have made to Mouteki method, and 67 pip TP is still good enough for me since it is a trade with better than 1:1 risk:reward ratio. I might aim for more than 2/3 in future when I become more confident of this style of trading, but that's for the future.
I am JuMPeR.
  • #16
  • Sep 21, 2006 3:50pm Sep 21, 2006 3:50pm
Fair comment. I understand completely having been burned too often by hanging on for the 2 more pips to make a target.

If you plan to post these excellent charts (at least better than mine) every day it will save me the trouble of working them out ;-)

Good Luck.
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  • #17
  • Sep 21, 2006 4:00pm Sep 21, 2006 4:00pm
Quoting Uphios
Fair comment. I understand completely having been burned too often by hanging on for the 2 more pips to make a target.

If you plan to post these excellent charts (at least better than mine) every day it will save me the trouble of working them out ;-)

Good Luck.
LOL... yes I will be posting them everyday, as real-time as possible.

But a disclaimer still, I am not providing insurance if you are using real money and got burnt unfortunately.
I am JuMPeR.
  • #18
  • Sep 21, 2006 4:06pm Sep 21, 2006 4:06pm
You know the old saying " Don't be a Di*k for a Tick. Applies here!


Quoting Uphios
Fair comment. I understand completely having been burned too often by hanging on for the 2 more pips to make a target.

If you plan to post these excellent charts (at least better than mine) every day it will save me the trouble of working them out ;-)

Good Luck.
Trade what you see - Not what you think
  • #19
  • Sep 21, 2006 4:47pm Sep 21, 2006 4:47pm
I can't believe the difference in these charts. I have just compared your USD/JPY to that provided by Marketmaker, they could almost be a different currency!
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  • #20
  • Sep 22, 2006 12:48am Sep 22, 2006 12:48am
Quoting Uphios
I can't believe the difference in these charts. I have just compared your USD/JPY to that provided by Marketmaker, they could almost be a different currency!
It's not really so different... maybe because my chart is resized to 600 by 600. Here, see below for a more "correct" version to scale... but if I use this format, it would be so blur and hard to make out a thing.
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I am JuMPeR.
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