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Anyone still trading Mouteki? 45 replies

Jumper's journal of Mouteki trading 74 replies

Mouteki Trading System 3 replies

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Attachments: Mouteki Trading
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Mouteki Trading

Quoting jarroo
See post 1007.

Use the most current one.

Jim
Sorry Jim, I don't know how come I've missed your post. Thank you
Quoting smjones
Bingo! Yes you are right. There it is written in the official record. Thanks much, Scott
Thanks guys,

That really solved the "puzzle". There might be also others who had not thought that before. I also thank Minute, who kindly pointed that in my trading Journal.

Great people here.
Caddy reveresed and opened up below the supply line. Check it out.


http://img241.imageshack.us/img241/3050/caddyii7.gif
Sorry thats not the Caddy, thats the USD/CHF
Quoting daerus
I just closed out as well, +138 pips.
Nice one Daerus.

Carlsberg don't do forex trading systems, but if they did....



Neil.
Hi everyone,

Are there any lessons we can draw from the attached example? I went short first, then got stopped out... then I went long, and got stopped out again. Was I just plain unlucky to hit on a "non-working" trade, or did I mess up somewhere?

Thanks.
Attached Image
I am JuMPeR.
Btw, here's a focused section of the chart above. Just in case anyone is wondering, 221.60 is the open of the first candle that broke the supply line. Somehow the resizing makes the chart a bit off.

This one is a direct screenshot.
Attached Image
I am JuMPeR.
both entries look correct, but now we get into the area of should you let the trade reverse on you. Mouteki in one of his powerpoint presentations closed a trade early, I believe since it stalled = thus protect pips gained at the expense of hitting the target. Perhaps some discretion is involved here.

I recommend anyone view that powerpoint for themselves rather than take my word for it, just in case im wrong.
And now, I am wary of going short even though it looks so good...
Attached Image
I am JuMPeR.
Quoting minute
both entries look correct, but now we get into the area of should you let the trade reverse on you. Mouteki in one of his powerpoint presentations closed a trade early, I believe since it stalled = thus protect pips gained at the expense of hitting the target. Perhaps some discretion is involved here.

I recommend anyone view that powerpoint for themselves rather than take my word for it, just in case im wrong.
Which one is it, minute? You aren't referring to the one below right?
Attached Image
I am JuMPeR.
This currency pair has about a 200 pip range during a 24 hour period. You may want to hash over your tight stop loss orders.


Quoting jumper
Hi everyone,

Are there any lessons we can draw from the attached example? I went short first, then got stopped out... then I went long, and got stopped out again. Was I just plain unlucky to hit on a "non-working" trade, or did I mess up somewhere?

Thanks.
Trade what you see - Not what you think
Quoting jumper
Hi everyone,

Are there any lessons we can draw from the attached example? I went short first, then got stopped out... then I went long, and got stopped out again. Was I just plain unlucky to hit on a "non-working" trade, or did I mess up somewhere?

Thanks.
Without looking at the details i'm not sure if you messed up, but yen crosses can have very large average daily ranges (well over a hundred pips), so your s/l might have to be adjusted accordingly.

In other words, if your projected target was 100 pips, and your s/l was 33 pips per the Mouteki method, that might only be 1/4 or 1/5 of the average range of pips that pair might move on any given day. Working off a 4 hr chart that might not be enough room for the trade to "breathe".

Perhaps Mouteki will post what pairs he finds his system works best on.

Some systems work on some pairs and not others.

Jimmy
Quoting summitfx
This currency pair has about a 200 pip range during a 24 hour period. You may want to hash over your tight stop loss orders.
Hello.. I know this is a very wild pair... but are you suggesting I give a wider stop while still trading Mouteki style?

So far, the only modification I have made is to reduce my TP target. Instead of using the projected number of pips, I aim for just two-thirds of it. I don't need to eat the whole pie; I just want some lunch. Currently, I am trading with sound money management (I hope), risking just 1% per trade and only going for trades with at least 1:1 risk:reward ratio. But I get carried away a bit by Mouteki method and some of my trades are more correlated than I normally allow.
I am JuMPeR.
Quoting summitfx
This currency pair has about a 200 pip range during a 24 hour period. You may want to hash over your tight stop loss orders.
Great minds think alike
Quoting jumper
Hello.. I know this is a very wild pair... but are you suggesting I give a wider stop while still trading Mouteki style?

So far, the only modification I have made is to reduce my TP target. Instead of using the projected number of pips, I aim for just two-thirds of it. I don't need to eat the whole pie; I just want some lunch. Currently, I am trading with sound money management (I hope), risking just 1% per trade and only going for trades with at least 1:1 risk:reward ratio. But I get carried away a bit by Mouteki method and some of my trades are more correlated than I normally allow.
I won't speak for summitfx, but I think that some discretion needs to applied to the system.

At least until Mouteki tells us otherwise
Quoting dangerman
Without looking at the details i'm not sure if you messed up, but yen crosses can have very large average daily ranges (well over a hundred pips), so your s/l might have to be adjusted accordingly.

In other words, if your projected target was 100 pips, and your s/l was 33 pips per the Mouteki method, that might only be 1/4 or 1/5 of the average range of pips that pair might move on any given day. Working off a 4 hr chart that might not be enough room for the trade to "breathe".

Perhaps Mouteki will post what pairs he finds his system works best on.

Some systems work on some pairs and not others.

Jimmy
So far, I think Mouteki had posted examples on GBP/USD and GBP/JPY. What you and summitfx said makes sense, but I am hesitant to make too many modifications to the original Mouteki method.

When Mouteki has some time to spare, I would greatly appreciate if you would comment on whether we should allow more "breathing space" for certain pairs, or if you would just not trade some pairs altogether. Thanks. ;-)
I am JuMPeR.
Quoting jumper
So far, I think Mouteki had posted examples on GBP/USD and GBP/JPY. What you and summitfx said makes sense, but I am hesitant to make too many modifications to the original Mouteki method.

When Mouteki has some time to spare, I would greatly appreciate if you would comment on whether we should allow more "breathing space" for certain pairs, or if you would just not trade some pairs altogether. Thanks. ;-)
You know, I think Mouteki is sitting back and watching this thread to see how people are learning to trade this system on their own. He jumps in once in a while with some info (almost perfect timing), but it seems like by then most people following the thread have already surmised or intuited what he was going to say. Almost like a college professor who lets the class take over the classroom, at least for a while

Great teaching job Mouteki!
Quoting dangerman
You know, I think Mouteki is sitting back and watching this thread to see how people are learning to trade this system on their own. He jumps in once in a while with some info (almost perfect timing), but it seems like by then most people following the thread have already surmised or intuited what he was going to say. Almost like a college professor who lets the class take over the classroom, at least for a while

Great teaching job Mouteki!
Actually I think he is really busy. If he starts answering every single question, he will need to sit all day at his computer terminal and do nothing else.
I am JuMPeR.
First of all, thanks so much for spending valuable time teaching us your method. We all really appreciate it. I just have a couple of clarification questions.

1- what if you have two higher lows or two lower highs but they share one or two of the candles needed to confirm that it is a low or high? In other words, what if there are only 2 or 3 candles between your two points for your trendline? Is this okay?

2- It has appeared that you have used a lower high or higher low even if one of the two candles to either side is equal to the one you are using as the low or high. Am I understanding your examples properly?

3- When calculating your price projection, when there's more than one candle along the trendline that are the equal, which one do you use?

Hope this makes sense. Thanks.
http://img164.imageshack.us/my.php?i...ntitledoa4.png
Hi...thanks for this thread and I'm just starting out. Can anyone verify whether the following is correct? thanks.
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