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Mouteki Trading

  • #1,181
  • Sep 22, 2006 1:02pm Sep 22, 2006 1:02pm
That's funny, I have a screen saver some where that looks like what ever you put into it, like a Word Doc or a chart. As you type or manipulate the data, the words you have just written literally fall off the screen before your eyes... It looks legit, but of course it is a joke... I wonder where I put that program?

Scott


Quoting jumper
Good for you pal!

Now it's making me wonder if there's something wrong with my chart. Maybe my machine has got a virus that goes around messing up candles. Ouch!

But please, would appreciate an update on this trade next week... if I forgot to ask.
  • #1,182
  • Sep 22, 2006 1:17pm Sep 22, 2006 1:17pm
Quoting smjones
That's funny, I have a screen saver some where that looks like what ever you put into it, like a Word Doc or a chart. As you type or manipulate the data, the words you have just written literally fall off the screen before your eyes... It looks legit, but of course it is a joke... I wonder where I put that program?

Scott
Right, I came across that before... one of my first "games" on my 486 lol. There's a website hosting many of these related "amusing games" but I can't seem to find it now.

Here's a funny one I still have though. See attached.
Attached File(s)
File Type: zip weapon_closet.zip   543 KB | 1,692 downloads
I am JuMPeR.
  • #1,183
  • Sep 22, 2006 1:20pm Sep 22, 2006 1:20pm
Thanks smjones for the help.
USD/JPY just started...
Attached Image
  • #1,184
  • Sep 22, 2006 1:22pm Sep 22, 2006 1:22pm
Thanks Jumper- Just what I need to chain saw away those bad trades LOL
Trade what you see - Not what you think
  • #1,185
  • Sep 22, 2006 1:22pm Sep 22, 2006 1:22pm
Started as well..let's see how these go
Attached Image
  • #1,186
  • Sep 22, 2006 1:23pm Sep 22, 2006 1:23pm
Quoting weghio
Thanks smjones for the help.
USD/JPY just started...

Hmmm - I think you're right.
  • #1,187
  • Sep 22, 2006 1:25pm Sep 22, 2006 1:25pm
Quoting smjones
Tough call, because those two lows are nealy the same level and I cannot tell from your chart which one is lower.
Hi all
Taking the rules from another method,which has already had a mention here, and has similar methodology to Mouteki's, in a situation where you have two consecutive bars with the same highs or lows, then you select the most recent bar.
This assumes, of course, that both bars still conform to the basic rules - ie that they have two higher lows or lower highs either side of the matching pair. So, in effect, you'd be looking at a 6 bar sequence.

Peter
  • #1,188
  • Sep 22, 2006 1:26pm Sep 22, 2006 1:26pm
Quoting weghio
Started as well..let's see how these go
On this one my line is slightly through the open, however your chart is clearly broken.
  • #1,189
  • Sep 22, 2006 1:28pm Sep 22, 2006 1:28pm
OK! This is the latest chart now with a new 4hr Bar. (About half an hour old).

I am using Metaquotes own server. New 4hr bar start at CET. 16:00, 20:00 etc.

Hope this helps.

Neil.
Attached Image
  • #1,190
  • Sep 22, 2006 1:40pm Sep 22, 2006 1:40pm
Quoting weghio
Thanks smjones for the help.
USD/JPY just started...
Which bar will you then use to calculate projected profit? Mouteki mentioned that the circled bar (see below) should not be used as it is part of consolidation. I have an urge to take this long too but weekend is upon us and I do not see any "ideal" low to take projection from...

The circled bar may be a reversal bar though -- then you will be in for a very profitable ride. ;-)

And as I look at the weekly and daily chart, this may well be the low point... so I've decided to go long anyway. I am placing my stop @ daily support 115.54.
Attached Image
I am JuMPeR.
  • #1,191
  • Sep 22, 2006 1:43pm Sep 22, 2006 1:43pm
Quoting Neilg36
OK! This is the latest chart now with a new 4hr Bar. (About half an hour old).

I am using Metaquotes own server. New 4hr bar start at CET. 16:00, 20:00 etc.

Hope this helps.

Neil.
Thanks Neil, that does help. Your lines look good to me. I believe Peter has added a piece to the puzzle.

Can anyone with coding experience tell me how to:

Change the Mouteki indicator so that it will allow two consecutive bars with the same highs or lows to be used in the construction of trendlines.

Thanks.
  • #1,192
  • Sep 22, 2006 1:47pm Sep 22, 2006 1:47pm
Quoting jumper
Which bar will you then use to calculate projected profit? Mouteki mentioned that the circled bar (see below) should not be used as it is part of consolidation. I have an urge to take this long too but weekend is upon us and I do not see any "ideal" low to take projection from...

The circled bar may be a reversal bar though -- then you will be in for a very profitable ride. ;-)

And as I look at the weekly and daily chart, this may well be the low point... so I've decided to go long anyway. I am placing my stop @ daily support 115.54.
Well I don't understand the consolidation yet anyway, but you are right in that there may not be many pips to gain if you use that candle. Using that candle I get 33 pips gain, using the next lowest I get 54. It could be a reversal bar as you said. I looked at Sidus method for daily and it looks like the jump down was too great, so I think a true daily retracement is needed. Your stop may be a good one instead of the 16/17 that should be used that's for sure.
  • #1,193
  • Sep 22, 2006 1:57pm Sep 22, 2006 1:57pm
Quoting jumper
Which bar will you then use to calculate projected profit? Mouteki mentioned that the circled bar (see below) should not be used as it is part of consolidation. I have an urge to take this long too but weekend is upon us and I do not see any "ideal" low to take projection from...

The circled bar may be a reversal bar though -- then you will be in for a very profitable ride. ;-)

And as I look at the weekly and daily chart, this may well be the low point... so I've decided to go long anyway. I am placing my stop @ daily support 115.54.
In cases like this I usually use the lowest low between the two points used to make the trendline.
  • #1,194
  • Sep 22, 2006 2:11pm Sep 22, 2006 2:11pm
Quoting jumper
Which bar will you then use to calculate projected profit? Mouteki mentioned that the circled bar (see below) should not be used as it is part of consolidation. I have an urge to take this long too but weekend is upon us and I do not see any "ideal" low to take projection from...

The circled bar may be a reversal bar though -- then you will be in for a very profitable ride. ;-)

And as I look at the weekly and daily chart, this may well be the low point... so I've decided to go long anyway. I am placing my stop @ daily support 115.54.

This is my current setup as far as projected profit...
Attached Image
  • #1,195
  • Sep 22, 2006 2:20pm Sep 22, 2006 2:20pm
Ok...
I am JuMPeR.
  • #1,196
  • Sep 22, 2006 2:22pm Sep 22, 2006 2:22pm
Mono,
Thanks for the indicator.
I would like to have time to bar close displayed in the comments.
How can I add this function to the code ?
  • #1,197
  • Sep 22, 2006 2:56pm Sep 22, 2006 2:56pm
Forgive me if I'm mistaken, but it looks as if this one could be big. After two huge swings earlier on in the graph, it's converging towards the middle...I think it's bound to break in either direction pretty soon.
Attached Image
  • #1,198
  • Sep 22, 2006 3:25pm Sep 22, 2006 3:25pm
Quoting Neilg36
OK! This is the latest chart now with a new 4hr Bar. (About half an hour old).

I am using Metaquotes own server. New 4hr bar start at CET. 16:00, 20:00 etc.

Hope this helps.

Neil.
Darn these time differences. My chart is a bit different, I actually don't get a short trade on GBP/USD. But I will wait until Monday - Tuesday for a clear pattern to appear.
  • #1,199
  • Sep 22, 2006 5:25pm Sep 22, 2006 5:25pm
Nigl i dont know what it is, but I do not have the points you have on your chart...

http://img452.imageshack.us/img452/4074/gbpusdhi4.gif



Also...anyone noticed...this method works really well on GBP cross pairs....
Nothing is hard, some things just take more time and discipline.
  • #1,200
  • Sep 22, 2006 6:36pm Sep 22, 2006 6:36pm
Quoting Uphios
Mouteki method.

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O.K. I will say what I think and you can pull it apart.

Firstly I think it has something. I think it depends on identifying a trend and then joining in on it, typically about half through the trend. It will never identify a top/bottom. At best there is a target where you would be a brave man (or woman) to reverse your position. On whipsaw days it can be a nightmare. I think mine and everybody else’s positions closed well this morning but any entry since then is in trouble at the moment.

<o></o>

Over the years I must have tried all of the methods from Elliot through candlestick charting, straight forward MACD etc. All I have found to have mixed success and this is what attracted me to Mouteki. His open post sounded a lot like my experience of charting so I was ready to give it a shot.

<o></o>

Now so far I have to say it is very simple. Unfortunately the market is very complex, surprisingly so for something that can basically only go up or down. And here I think is the usual problem; this method only seems to work in a fairly strong trending market. An entry into a whipsaw market comes without warning and can run stop loss very quickly.

<o></o>

Personally I am about even on it with about 50/50 wins, a bit like spinning a coin. I will persist with it for a while longer but certainly not bowled over by the success.
I personally think this is why the method works on such a big TF, because it eliminates the market noice. (would probably work great on daily too, never checked). So when a trendline is broken, either upward or downward sloping, this usually means either the end/beginning of a retracement, beginning of reversal, or breakout of the consolidation/contracting triangle/flag/you name it. But I agree with you that there are times when we see long ranging corridor on 4hr charts which could indeed be choppy for the method. What I like about it though (although I haven't made a single live trade using this method) is that even in ranging times, it'll give you enough room to get stopped out at least at b/e. Of course there will be losers, show me a system that has none and I'll pay you for it as much as you request, even if it means robbing 10 banks in the row
Trax Tibidax Tibidox...
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