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Anyone still trading Mouteki? 45 replies

Jumper's journal of Mouteki trading 74 replies

Mouteki Trading System 3 replies

Favourable pairs for Mouteki trading... 7 replies

Kalesh's journal of Mouteki Trading 25 replies

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Mouteki Trading

  • #2,221
  • Sep 30, 2006 2:02pm Sep 30, 2006 2:02pm
Quoting ra300z
I think that the break below the demand line (short order) happened before the break above the supply line (long order).
Yes, but that is why you should always have a demand and supply line. When they are close to crossing, or are crossing, wait it out. Mouteki didn't say this, but almost all of my losses were because of this, because I only drew one line and was saying "oh yeah, great setup", when actually I should've never done it. I got fooled by this same usd/chf setup. Just my opinion of course.
  • #2,222
  • Sep 30, 2006 2:06pm Sep 30, 2006 2:06pm
Quoting GRACO
Dear Jumper..
Can you share with us ur Indicator??

That will be great!
Sure... see attached.
Attached File(s)
File Type: mq4 Mouteki.mq4   20 KB | 395 downloads
I am JuMPeR.
  • #2,223
  • Sep 30, 2006 2:24pm Sep 30, 2006 2:24pm
GREAT!!!
Thx jumper!!

Quoting jumper
Sure... see attached.
  • #2,224
  • Sep 30, 2006 2:40pm Sep 30, 2006 2:40pm
Sir Wolf:
Your using the 4 hour time frame? And you have had 10 trades in 3 days??
Wow!
  • #2,225
  • Sep 30, 2006 2:49pm Sep 30, 2006 2:49pm
Quoting Ricx
This morning when i was just woke up...
im thinking 2 scenario
the first one...

i drew this demand line when 1.2630 and 1.2662 is the most supporting point on my view, then drew the demand line there :
http://img86.imageshack.us/img86/882/pic1uc1.gif

Then i drew horizontal line to the highest point *:
http://img216.imageshack.us/img216/2498/pic1tr6.gif

Then i drew a vertical line to get the crossing line :
http://img213.imageshack.us/img213/9313/pic1ku7.gif
http://img213.imageshack.us/img213/402/pic1ee0.gif

it seems candle was opened way down below the demand line so the price projection for this move is... :
http://img220.imageshack.us/img220/8796/pic1dq3.gif

and after that the next is the stop loss, which is calculated :
target profit is > 90 pips , 33% apply
180 pips * 33% =*59.4*round*it*up*to*60*pips,*i*was*wondering*should*i*add*
the spread for this... um... i think i add 3 pips spread it wont damage much
anyway if it turns 10 pip profit in the end
So the stop loss is....*wait*a*minute*in*stop*loss*aplication*doc*said...
"..i would choose the candle that is not touching the supply line. why be..."
i guess my stop loss is using this candle :
http://img216.imageshack.us/img216/5382/pic1oh8.gif

ah.... how lovely chart... oh ya i forgot the 10 pips line here it is...:
http://img213.imageshack.us/img213/716/pic1qa4.gif

i guess its done... can any one confirm this?

Thanks.
Hello Ricx,

I am assuming you have ignored the most recent bars on the right (I have put a cross below) and that your first point connecting is the third most recent bar -- otherwise you have drawn your line wrongly since your first point should always be the most recent support (look from right to left). But even if this is the case, your demand line was still drawn incorrectly. Please see where I pointed too below -- that is a more valid point 2 for your demand line.

Otherwise, your steps are largely in order except for the way you set your stop limit. Your projected profit was 180 pips -- divide it by 3 and you get 60 (I really think one-third would be neater than 33% ). These 60 pips should be added to the same open of the candle you used for PP when you are calculating SL point for this short signal. I notice you chose another candle's open to add the 60 pips to... no no, add it instead to the very same candle you used for PP.

You mentioned something about choosing the candle that is not touching the supply line... I think you have read this out of context - if indeed you read this in the example in page 1 of the stop loss document. There, Mouteki was using the example to highlight the point that candles in consolidation should be ignored. Since both candles are having the same low, it implies consolidation; Mouteki said to choose the one not touching the supply line -- this is correct, but I believe he was using the most obvious way of referring to the candle -- it has *nothing* to do with the supply line. If you want to put it another way, I think he would have chosen the same candle (the left one of the 2 sharing the same low) even if neither was touching the supply line.

As for the spread, yea, consider your SL 60 + 3 = 63 pips instead. Note though that if this is a long signal, your SL should remain at 60 pips since you would be looking at the bid price when closing out this long.
Attached Image
I am JuMPeR.
  • #2,226
  • Sep 30, 2006 3:10pm Sep 30, 2006 3:10pm
Quoting llambert3
Yes, but that is why you should always have a demand and supply line. When they are close to crossing, or are crossing, wait it out. Mouteki didn't say this, but almost all of my losses were because of this, because I only drew one line and was saying "oh yeah, great setup", when actually I should've never done it. I got fooled by this same usd/chf setup. Just my opinion of course.
Thanks for the tip. I'm sure this looks better and I'll be sure to avoid a trade like this since it has indecision.
Attached Image
  • #2,227
  • Sep 30, 2006 3:15pm Sep 30, 2006 3:15pm
Yes, I am using the 4HR timeframe.
Believe and Achieve!
  • #2,228
  • Sep 30, 2006 4:16pm Sep 30, 2006 4:16pm
Quoting BillGates
I think the projection price from the more recent trend line is more realistic.
You are using 1.2687 (blue line) as the first candle to open under the trend line, but roughly 1.2662 or so was the true first candle.
  • #2,229
  • Sep 30, 2006 4:56pm Sep 30, 2006 4:56pm
Quoting samyadly
hello guys
i'm new to this thread but i wish my system would be a good thing for u

i confirm the crossing of Dem lines by dpo crossing below/above zero line , hope that will help

Hello samyadly,

What IS the DPO indicator?

Thanks!
  • #2,230
  • Sep 30, 2006 5:08pm Sep 30, 2006 5:08pm
What are the time intervals, that you can use Mouteki trading technique. My charting software doesn't allow for 4 hour intervals, can I use 1 hour intervals or less. Thanks. New to this board and the Mouteki technique.

Jim
  • #2,231
  • Sep 30, 2006 6:51pm Sep 30, 2006 6:51pm
Hi Sanchez,

I think you are confusing my chart with greatyves chart.
My charts are clean as a whistle. There is only one arrow on it, and I put it there as a personal reference so on Sunday evening when market opens, I can just breeze thru all my charts and know right where I stand. Make adjustments as needed, and bag the pips.

Peace,

fxstc

Quoting sanchez
Hi,

In all honesty I dont see how the signals could be taken any other way heeh.. But I guess that is the dynamics of Forex one never knows precisely in which way its going.. I still think up especially after Friday when the candle completed and cleared the supply line without ambiguity..

Question for ya...

On your charts you have x and arrows such as I do however I was wondering just exactly they are suppose to indicate if anything? Do you know?

Thanks,

Sanchez
If at first you don't succeed, keep on suckin til you do succeed.
  • #2,232
  • Sep 30, 2006 8:14pm Sep 30, 2006 8:14pm
Jumper..
just one question..
the indicator that you use, the Highest High is not in the chart..
There are a green and red lines, but i donīt think there are the Highest High/low...

There is a way to the indicator can drow those lines?
Thx!
Quoting jumper
What can I say? I am seized with horror!

What a bad way to end a Friday!!
  • #2,233
  • Sep 30, 2006 8:22pm Sep 30, 2006 8:22pm
What would you do here? USDCAD, February 24th. There is a supply line break at the bottom of this U, it easily meets its target. But then another supply line is drawn and shown on my chart. Do you go for it? Why or why not?

It seems to me that when you get these big U's or inverted U's, you can get very high price targets. In this case, it's 231 pips. Do you avoid profit targets that high?
Attached Image
  • #2,234
  • Sep 30, 2006 10:34pm Sep 30, 2006 10:34pm
Quoting lava
...but if I use Harmonics...
Harmonics guy? I'm wanting to start studying some techniques around that...

You are talking specifically about the harmonics of how the psychology of the market moves and how you can make a highly probable guess on where the target to enter or exit is based on time? Harmonic practicioners also employ Fib and Fib time as well...

Some do it exclusively...
Mr. Trend
  • #2,235
  • Oct 1, 2006 12:33am Oct 1, 2006 12:33am
http://img100.imageshack.us/img100/7100/usdchf1nm2.jpg
{Link Removed}]
  • #2,236
  • Edited 2:11am Oct 1, 2006 1:58am | Edited 2:11am
Quoting Mr Trend
Harmonics guy? I'm wanting to start studying some techniques around that...

You are talking specifically about the harmonics of how the psychology of the market moves and how you can make a highly probable guess on where the target to enter or exit is based on time? Harmonic practicioners also employ Fib and Fib time as well...

Some do it exclusively...
Hi MR Trend,
All Harmonics are based upon Fibonacci numbers. The Gartley pattern is the most well known because it is so reliable. All the patterns incorporate points that relate to each other in Fibonacci ratio.
I am in the process of studying another pattern that has not been declared as yet but I will need at least a year to confirm this pattern.
My reason for looking at Mouteki is also for this reason- Mr Mouteki without realising it-I think, has stumbled upon an area of Harmonics that fits in with well known Harmonic strategies. Supply and demand is the natural flow of so called market 'chaos'- but Harmonic- I will need to study Mouteki more vigorously, like recording Fibos of Mouteki and pattern generation, but this is for my research only.
So far it appears that Mouteki works but I have only used it for one week and made two trades based off small time frames that did not work because I used it in the wrong time frame also did not understand the method fully.
Timing is everything, for example on a good Harmonic pattern I can place a stop of 5 pips and it will hold. Mouteki is more relaxed in this area so requires more research to find the 'perfect' entry.
It leads to lower stress trading for me knowing that I will not be whipsawed 30 pips immediately for my trade. It is because the markets and cosmos will not allow the price to go against me that is so interesting about Harmonic trading.
Very interesting- I think.
Sorry- in answer to your part about psychology of trading. I personally do not think psychology enters Harmonics it is more about the natural energy points that surround the market a bit like Tai Chi or the Chakras of the market.
  • #2,237
  • Oct 1, 2006 2:23am Oct 1, 2006 2:23am
Can someone please post the latest Mouteki indicator for MT4? I think I'm using an old one...
Thanks much!
  • #2,238
  • Oct 1, 2006 2:36am Oct 1, 2006 2:36am
Hi all,

I had an interesting situation on the USD/JPY last week (Sept 25-29). My first supply line was broken, giving me a long entry point at about 116.50 and a target of 117.40. Just before my target was hit I received another long signal @ 117.28 (new target 118.60). Obviously this is showing a very bullish usd and a weak jpy.

The usd bullish trend is so stong that it resulted in a very steep demand line. Because of its "steepness" some simple lateral market move gave me a sell signal (117.52). Of course, my common sense said to stay long. Had I gone short I would have lost. What do you guys think of this?
Attached Image
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #2,239
  • Oct 1, 2006 3:27am Oct 1, 2006 3:27am
Quoting sirwolf
Greetings Fellow Mouteki Traders!

I have been following this thread since day 1 and have been testing Mouteki on and off learning to fully understand how to trade it. I opened up a new Demo account with $5K on Wednesday. My results for the first 3 days were great. I had 8 winners and 2 losers - 80% winners. A profit of $2200! My account statement is attached. Note there was a 3rd loss for $55, however that was from a different system I was trading, I accidenlty made it on the wrong account, so it does not figure into my testing.
My only change to the system is that I always set my Take profit at 40 PIPS and my stoploss at 30 PIPS. I had lost some trades that did not make their target over the weeks so I started backing them off a bit. I found that 40-50 PIPS TP worked good for me. I am unable to trade during the day, so I make my trades before I go to work, or after work. I am using 40 PIPS for this test and I am going to monitor results to see if I should bump this number up. I may be leaving pips on the table, but he,y I will take these results any day.
I know it is just 3 days of trading, but this is typical of the results I have been getting. I am now keeping a spreadsheet which contains all trades and before and after screenshots for my own use. This way if I lose a trade, I can see the initial set-up to see what may have gone wrong and if it was my error.
I just thought I'd share my results and I will continue to as I continue this testing. If the results look good after 1 month, I am going with LIVE funds.
I just love this thread and a big THANK YOU to Mouteki, I hope you read this and know I am very excited about your system. So simple and so effective. I just hope it keeps up.

Have a great weekend folks!

Sir Wolf
I'm glad things are working for you, but you're probably trading too many pairs. In a bad way too.....Take GBP/USD and EUR/USD for example....Usually people are scolded for taking a long position in both (it's basically doubling your exposure) due to the high correlation of the pair.....

you however went short on GBP/USD at 10:48, and then four minutes later long on EUR/USD. Definitely a strange tactic. It's like playing both black and red on a roulette table.

A couple other of your trades seem pretty correlated too. Look at all your trades within 10 hours (or, 3 time periods) of each other. It looks like a lot of them share a common currency (not always bad, but something to be careful about). These correlations are great if they work in your favor...but they can be devastating too if they go against you.

If nothing else, run your demo for a month or two before jumping to any conclusions.

Again, if it's working for you, that's wonderful...I'm just trying to offer a little constructive criticism. You might consider browsing the stickied money management thread in the beginners section.

Good trading.
  • #2,240
  • Oct 1, 2006 4:04am Oct 1, 2006 4:04am
Yet another thing to watch out for. Market closed for EURUSD about 1.2679, however my market maker does something weird after the close, probably to take out all the nearby stops. The effect is a chart that looks like this. Probably not often a problem but after such a flat session this time it will almost certainly appear as a spike in future.
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