Mouteki Trading

Quoting Uphios

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I back tested against against all of the major pairs (eurusd, gbpusd,usdjpy, +) many secondary pairs (usdcad, eurgbp, gbpcad, eurcad) and a couple of others. I downloaded the data from http://freeserv.dukascopy.com/exp/ (please don't hit all together, they will switch of this free download) on a 1 hour basis. I then spent 3 days constructing a program to break this data into 4 hourly charts, each off set by one hour to produce the variations that each "player" will see depending on their time shift. The program then highlights each relevent point according to selection rules, and then calculates the target price and reports on success or fail. No stops are applied for this process but a maximum loss is reported for me to decide if you really would follow this or abandon, ie greater than 50% of projected target under water. To be honest, I have been generous on the reported findings.
I really do not want to get into a long debate about this. As I said, I think there is some potential there somewhere but it is a long way short of a system. If people are having success with this method, good luck to them, but as it stands it is not good enough for me. However, it has reawoken my interest in charting.

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Quoting daerus

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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.

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Quoting llambert3

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As I said earlier about smaller pairs and if +20 take +5, this could be applied to the jpy crosses that everyone keeps saying to maybe "avoid" with Mouteki system. I am beginning to wonder if on these it wouldn't be a bad idea to just take +20 and call it a day since it appears it at least goes +20 once a trade starts... I looked at the EUR/CAD chart and what a mess. Very hard to tell what is/was going to happen.

On another note, it appears if GBP/USD doesn't go below 1.8993 the next 40 minutes and opens at midnight (US Eastern time) at say 1.9016 or below it could be a sell.

Same situation on the nzd/usd, but could be a buy if opens at .6635 or higher.

I sort of understand both sides of the argument of trading strictly Mouteki and then the the other side of doing whatever it takes to make a profit. Some pairs do not work very well. However, it appears if the charts for Mouteki style looks "beautiful" then the trade works very well, whereas when it is one of those "hmmm I am not sure about this", you can make at least 20 pips...before it goes against you. Just an observation.

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Quoting forexpips

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You can't backtest this method unless you are redrawing the trendlines. All of you that are getting a machine to backtest this method will not appreciate its power. If you really want to do a valid backtest, set up the chart in StrategyTester, and redraw the trendlines as the chart is built. Then only will you see what MoutekiTrader has found. I am backtesting, in the manner I noted, September 06 right now.

Here is the first trade. Note that a second trade was triggered prior to the first limiting out, so the second trade of the month will be that trade. It is in the next post.

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Quoting forexpips

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You can't backtest this method unless you are redrawing the trendlines. All of you that are getting a machine to backtest this method will not appreciate its power. If you really want to do a valid backtest, set up the chart in StrategyTester, and redraw the trendlines as the chart is built. Then only will you see what MoutekiTrader has found. I am backtesting, in the manner I noted, September 06 right now.

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Quoting jumper

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In response to your post #1101, I was right in guessing that it would be a failed trade. Well, at least according to my chart, I would have gone short at 0.6579. Projected profit is 62 pips so I would have been stopped out neatly at 0.6579+0.0031=0.6610 .

Are you still in the trade, or did you take it in the end?

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Quoting llambert3

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I am beginning to wonder if on these it wouldn't be a bad idea to just take +20 and call it a day since it appears it at least goes +20 once a trade starts... However, it appears if the charts for Mouteki style looks "beautiful" then the trade works very well, whereas when it is one of those "hmmm I am not sure about this", you can make at least 20 pips...before it goes against you. Just an observation.

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Quoting aha

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I found your title offensive.

Did you even look at my result chart? Your first trade was the first trade my EA took. But I don't know how you get the profit projection of 185 pips, not from Mouteki for sure. My hand calculation (as well as my EA) is only 94 pips, which is calculated from the 7th bar to the left of the entry bar (bar 0). So my stop loss is only 31 pips based on Mouteki and it was stopped out.

And the second trade you mentioned was taken by my EA as well.

Peace out.

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