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Anyone still trading Mouteki? 45 replies

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Mouteki Trading

  • #1,281
  • Sep 24, 2006 7:36pm Sep 24, 2006 7:36pm
I asked this question before but didn't get an answer. Maybe I missed it.
If in a trade, suppose long trade, then we get another opportunity to go long, what do we do?
Do we ignore the new opportunity?
Do we use the price projection of the new opportunity and change our stop loss accordingly?
Do we close our old position and open a new one?

Would appreciate a reply.
Thanks.
  • #1,282
  • Sep 24, 2006 7:40pm Sep 24, 2006 7:40pm
It would be nice if Mouteki post more results, maybe going back a while. He only posted results of july of this year.
  • #1,283
  • Sep 24, 2006 7:41pm Sep 24, 2006 7:41pm
Quoting Attiqul
I asked this question before but didn't get an answer. Maybe I missed it.
If in a trade, suppose long trade, then we get another opportunity to go long, what do we do?
Do we ignore the new opportunity?
Do we use the price projection of the new opportunity and change our stop loss accordingly?
Do we close our old position and open a new one?

Would appreciate a reply.
Thanks.
From what I gathered in earlier posts by Mouteki:

If we get another signal in the same direction, then we take the new profit projection based on the new signal.

If we get a new signal in the opposite direction, then we close out of the current trade and open one in the direction of the new signal.

Hope this helps.
  • #1,284
  • Sep 24, 2006 7:43pm Sep 24, 2006 7:43pm
Quoting daerus
From what I gathered in earlier posts by Mouteki:

If we get another signal in the same direction, then we take the new profit projection based on the new signal.

Hope this helps.
Dont we change the stop loss to the new stop loss as we are now going after a new price projection? that would be good to take some profit.
  • #1,285
  • Sep 24, 2006 7:45pm Sep 24, 2006 7:45pm
Quoting Attiqul
Dont we change the stop loss to the new stop loss as we are now going after a new price projection? that would be good to take some profit.
Yes, from my understanding you treat it as if brand a new trade. Therefore you take the new SL point, move SL to B/E +10 once +40, etc.
  • #1,286
  • Sep 24, 2006 7:46pm Sep 24, 2006 7:46pm
Quoting daerus
Yes, from my understanding you treat it as if brand a new trade. Therefore you take the new SL point, move SL to B/E +10 once +40, etc.
Thanks for the quick reply.
  • #1,287
  • Sep 24, 2006 7:48pm Sep 24, 2006 7:48pm
Vsilver. I'm glad it worked out for you. But here is the same chart from this side of the pond. As you will see the relevent high is 0.7578, the cross of the trend line is at 0.7523 giving a target of 55 points. The entry then is the first bar to start below the trend line which is 0.7516. This gives a target of 0.7461, still a long way to go.
Attached Image
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  • #1,288
  • Sep 24, 2006 7:50pm Sep 24, 2006 7:50pm
Quoting Attiqul
Dont we change the stop loss to the new stop loss as we are now going after a new price projection? that would be good to take some profit.
If the new projection is in the same direction, then the stop loss should be adjusted base on Mouteki stop loss ( that is 40 pips SL if profit > 50 but it is good to have TS between 15 to 20 in live account ). The TP also need to change to reflect the new projected profit.

If the new projectin is in opposite direction, then close the current trade and open new trade.
  • #1,289
  • Sep 24, 2006 7:53pm Sep 24, 2006 7:53pm
YES I AGREE AUS IS GOING TO CONTINUE DOWN. BUT IT WAS FRI AND I DONT HOLD OVER THE WEEKEND. ALSO .7500 CAN ALSO ACT AS A RETRACEMENT SPOT. SO I LOCKED IN PROFIT FOR THE WEEK.
  • #1,290
  • Sep 24, 2006 7:56pm Sep 24, 2006 7:56pm
Vsilver. Don't get me wrong, you have to do what is right for you, but as far as following a method (system) is concerned I can not see why you got in where you did or out where you did. As far as my tests are concerned this would be a potential good trade but not yet a success.
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  • #1,291
  • Sep 24, 2006 8:08pm Sep 24, 2006 8:08pm
GEE VSILVER_ WHAT"S WRONG WITH YOU?

Quoting vsilver
THEN ASK MOUTEKI NOT THE FORUM.
Trade what you see - Not what you think
  • #1,292
  • Sep 24, 2006 8:10pm Sep 24, 2006 8:10pm
THIS MUST THE DIFF IN CHARTING SERVICE. MY ENTRY CANDEL OPENED AT .7531 WITCH WAS BELOW MY TREND LINE. I WAITED FOR A PULL BACK AND ENTERED AT .7540. I SAY A 50+ PP ALSO. BUT AGAIN I HAVE OTHER TRADING RULES I FOLOW. NOT HOLDING OVER THE WEEKEND. I ALSO PAY ATTN TO FIB LINES. AND PRICE SUPPORTS SUCH AS 7500.
  • #1,293
  • Edited 8:25pm Sep 24, 2006 8:14pm | Edited 8:25pm
To Mono and Forexpis,
Thanks to Mono for Mouteki indicator modification.
Now question:
Which indicator is correct ? Both GBPUSD from IBFX.
Blue-Demark ind
Red-Mouteki ind
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File Type: zip demark and mouteki ind.zip   34 KB | 881 downloads
  • #1,294
  • Sep 24, 2006 8:18pm Sep 24, 2006 8:18pm
Quoting tomstaufer
To Mono and Forexpis,
Thanks to Mono for Mouteki indicator modification.
Now question:
Which indicator is correct ? Both GBPUSD from IBFX.
The mouteki indicator draws the lowest(or highest) points without waiting for the close of the second bar. In other words, right now, that's the lowest point, with two bars on the left and two bars on the right (even though the second bar on the right isn't complete).

So, technically, the level 2 TD lines would be the correct lines at this point, until the close of the current bar.

Hope that makes sense.
  • #1,295
  • Sep 24, 2006 8:20pm Sep 24, 2006 8:20pm
Vsilver. Yup, understand completely, and more to the point it worked for you. All I am getting at is that Mouteki's method shows promise but it is unfair for people to jump on 'Jumper' for trying to enhance a method that can clearly be improved. For starters I understand the theory of a clear two bars either side of a significant point before accepting it is significant. However I have personally modified this to be a 1 hour chart with 10 bars either side. It gives the same effect but without the discrepency on charts. My personal ambition is the holy grail of trading, which I recognise is probably unachievable. But when I get close enough I'm not telling you lot about it http://www.forexfactory.com/forexfor...ons/icon10.gif
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  • #1,296
  • Sep 24, 2006 8:24pm Sep 24, 2006 8:24pm
HOPE EVERY THING WORKS OUT FOR YOU TO. GOOD TRADING TO ALL.
  • #1,297
  • Sep 24, 2006 8:25pm Sep 24, 2006 8:25pm
I am attempting to use Vantagepoint with a 1 hour chart Mouteki trade setup.Anyone else using the 1 hr. mouteki based chart with success?
  • #1,298
  • Sep 24, 2006 8:32pm Sep 24, 2006 8:32pm
daerus,
Thanks for clarification.
  • #1,299
  • Sep 24, 2006 8:33pm Sep 24, 2006 8:33pm
Iglyons. I am now using one hour charts but no trades as yet. The work I put in on back testing and splitting the charts into all perumations of 4 hour bars showed me that a significant move in the first hour of a bar was relevent for 11 hours. If the move occured in the last hour of a bar it was relevent for 8 hours. So I split the difference, erred on the side of caution and opted for a signifcant high/low having to be valid for 10 hours. Only just changed over hence no trades yet.

By the way, can everybody please buy the CAD against the USD like mad in order for me to get of a duff signal that I knew was wrong but decided to back anyway in the interest of following the method.
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  • #1,300
  • Sep 24, 2006 8:47pm Sep 24, 2006 8:47pm
Sorry no more CAPS!
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