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Mouteki Trading

  • #2,401
  • Oct 2, 2006 1:45pm Oct 2, 2006 1:45pm
From a Mouteki standpoint, I can't find one thing interesting on the market today. Not a pair. EUR/USD already met the profit projection in its first candle.

I guess I'm going to wait for another day.
  • #2,402
  • Oct 2, 2006 2:05pm Oct 2, 2006 2:05pm
if we have 2 signals one buy and the other sell wich one we take : the recent one or the other ?
  • #2,403
  • Oct 2, 2006 2:10pm Oct 2, 2006 2:10pm
If say there are two signalled trades.. gentle Support Line and a most recent steep Resistance Line.. and they have both been broken.. then both are valid trades.

What this means is that the trend will rise for a short while before it corrects it self and heads towards a major drop.

I tend to look at both signals, compare them with some fundamental information and see which one is less riskier than the other.. then I take the one that is more solid.

I hope this helps.. If you have a graph of a particular trade in mind, I may talk you through what I mean about my first sentence.
_______________ Say Good-bye to Buy-and-Hold
  • #2,404
  • Oct 2, 2006 2:12pm Oct 2, 2006 2:12pm
Hi mouteki. thanks for sharing your system.

I noticed in all your slides\presentations, that you none of your trendlines extend back further than 25-30 candles from the most recent one.

You've also stated that the most recent price action and sup\res points are the most important.

Do you have a limit as to how far you would go back in time to get the second supp\res point?

the drawing below named "longtrendline" illustrates my point. this is an extreme case where the second point was more than 1.5 months back behind the most recent resistance point.
(do you just wait for a better and more recent trendline to form and completely ignore trendlines that extend back more than a couple of weeks?)


question #2
with new price action and candles closing, new trendlines often get drawn. there are some instances where after drawing the new trendline, the most recent candle has already broken it (whereas previous to the redrawing of the trendline. there was no trendline break with the old trendline).
the picture below illustrates what i'm talking about. with the close of the candle (with the red dot under it). a new demand line was drawn. this demand line was drawn in such a way that the newly closed candle had already broken it.

do you enter the trade on this one?

also what do you do if the newly closed candle breaks both the demand and supply trendlines? do you just ignore the breaks and not trade it?


question #3

in your gbp/usd examples you ignored an area of consolidation in determining your price projection. how do you determine if its an area of consolidation?

thanks!


phoenix
  • #2,405
  • Oct 2, 2006 2:15pm Oct 2, 2006 2:15pm
Short: 0.6756
SL: still thinking where to put it ...
TP: 0.6716

http://aycu31.webshots.com/image/435...9328417_rs.jpg
  • #2,406
  • Oct 2, 2006 2:17pm Oct 2, 2006 2:17pm
Quoting raizor
Mouteki,

Thanks for all your time on this forum.

Is it okay if the two trendline points share 1 or 2 candles? For example, what if your two points only have 2 or 3 candles between them?
raizor, yes you can share candles.

please reference part 1, part 2 and, particularly part 3 of mouteki's powerpoint presentations. it can be found on the mouteki materials thread.

part3, example #13 shows a trendline which has its support points sharing two common candles.


hope that helps,

phoenix
  • #2,407
  • Oct 2, 2006 2:50pm Oct 2, 2006 2:50pm
Hi,

I would like to know what is the best indicator for Mouteki Method.

Denmark_trend_new or Mouteki ?

Thks
Oxyd
  • #2,408
  • Oct 2, 2006 3:01pm Oct 2, 2006 3:01pm
I would guess no. I had to look at the weekly charts to find a time this was last broken, and that was in 1998. But shit it's forex, you never know. It would have been sweet to start shorting this pair in February of 1980 until about January of 1995. I think the way i'm going to play is to wait until it breaks out of this sideways channel. But i'm not going to long if it breaks above I don't think. The upside seems sorta limited to me, so I shall wait to see if it can break the support of the channel before I decide on throwing my money into it.
  • #2,409
  • Oct 2, 2006 3:02pm Oct 2, 2006 3:02pm
Hi Oxyd,

I think it is a matter of preference, although from my experience with the mouteki indicator, it sometimes identified swing highs and lows incorrectly, but I believe MONO fixed this issue in a later version.

I use demark_new_trend. I turn off everything except the circles. I then draw all lines, and calculate projections manually.

Hope this helps.

regards,
HK
Quoting oxyd
Hi,

I would like to know what is the best indicator for Mouteki Method.

Denmark_trend_new or Mouteki ?

Thks
Oxyd
  • #2,410
  • Oct 2, 2006 3:03pm Oct 2, 2006 3:03pm
Sorry I was a bit unclear. I do not think it will break up to the 224.06 mark. It could break the resistance of its current trend, but I can't mess with it.
  • #2,411
  • Oct 2, 2006 3:07pm Oct 2, 2006 3:07pm
Hi,

Maybe its just a feeling I have but I have observed that whenever USDJPY or EURUSD makes big moves (e.g. when USD data is announced), it takes a little longer for the NZDUSD to react.

By looking at the USDJPY graph from todays USD movement, starting at 12.50GMT a steep dive ending around 15.00GMT.

NZDUSD however didnt move until around 13.20GMT ending 16.10GMT.

If there is anything to it, this might give us kiwi-dollar players a pre-warning of upcoming direction.

Best regards,
Bo
  • #2,412
  • Oct 2, 2006 3:18pm Oct 2, 2006 3:18pm
Hi Horace,

Thanks for your quick reply. I try to use Denmark with everything off except circles and draw lines manually. But i very like the price projection of Mouteki indic. I dont know what is the last version of his indicator.

Oxyd

Quoting Horace Kent
Hi Oxyd,

I think it is a matter of preference, although from my experience with the mouteki indicator, it sometimes identified swing highs and lows incorrectly, but I believe MONO fixed this issue in a later version.

I use demark_new_trend. I turn off everything except the circles. I then draw all lines, and calculate projections manually.

Hope this helps.

regards,
HK
  • #2,413
  • Oct 2, 2006 3:20pm Oct 2, 2006 3:20pm
Hi phoenix,

Attach the files to your post so Mouteki can see what you mean.

Quoting phoenix
Hi mouteki. thanks for sharing your system.

I noticed in all your slides\presentations, that you none of your trendlines extend back further than 25-30 candles from the most recent one.

You've also stated that the most recent price action and sup\res points are the most important.

Do you have a limit as to how far you would go back in time to get the second supp\res point?

the drawing below named "longtrendline" illustrates my point. this is an extreme case where the second point was more than 1.5 months back behind the most recent resistance point.
(do you just wait for a better and more recent trendline to form and completely ignore trendlines that extend back more than a couple of weeks?)


question #2
with new price action and candles closing, new trendlines often get drawn. there are some instances where after drawing the new trendline, the most recent candle has already broken it (whereas previous to the redrawing of the trendline. there was no trendline break with the old trendline).
the picture below illustrates what i'm talking about. with the close of the candle (with the red dot under it). a new demand line was drawn. this demand line was drawn in such a way that the newly closed candle had already broken it.

do you enter the trade on this one?

also what do you do if the newly closed candle breaks both the demand and supply trendlines? do you just ignore the breaks and not trade it?


question #3

in your gbp/usd examples you ignored an area of consolidation in determining your price projection. how do you determine if its an area of consolidation?

thanks!


phoenix
  • #2,414
  • Oct 2, 2006 3:28pm Oct 2, 2006 3:28pm
I'm sorry, nor do I as I don't use it. Can anyone who uses the mouteki indicator help oxyd?
Quoting oxyd
Hi Horace,

Thanks for your quick reply. I try to use Denmark with everything off except circles and draw lines manually. But i very like the price projection of Mouteki indic. I dont know what is the last version of his indicator.

Oxyd
  • #2,415
  • Oct 2, 2006 4:40pm Oct 2, 2006 4:40pm
Did I draw this right?


http://mywebpage.netscape.com/almeria2068/GBP-JPY.bmp
Fdisk Please I just want a few pips. Is that too much to ask?
  • #2,416
  • Oct 2, 2006 4:48pm Oct 2, 2006 4:48pm
Quoting wallym
Short signal @ .6500 with PP ~ 250pips...but it seems to go strongly the opposite direction...
Yeah because the lines are crossing. We now know it was a buy.http://img9.picsplace.to/img9/21/nzdusd.png
  • #2,417
  • Oct 2, 2006 5:26pm Oct 2, 2006 5:26pm
Yes you have drawn it correctly. I was just comparing your graph with the one that I have drawn.. and it seems that the data from your broker is slightly different than the one provided from my broker.

According to your graph it shows that the support line has been broken twice but yet the trend has continued on the up.

On my trend the support line seems strong and has not been broken once. Can anyone explain why this would be the case.

Is the information that brokers have, vary by such a degree that it would actually make a difference to whether a trade is put in place or not?
_______________ Say Good-bye to Buy-and-Hold
  • #2,418
  • Oct 2, 2006 5:47pm Oct 2, 2006 5:47pm
Quoting deltaworld
Is the information that brokers have, vary by such a degree that it would actually make a difference to whether a trade is put in place or not?
Hi delta,

Apparantly yes. I believe the consensus is that although some may have entries while others don't, depending on broker's tradestation timing, in the long run, things will even out.

regards,
HK
  • #2,419
  • Oct 2, 2006 5:48pm Oct 2, 2006 5:48pm
Thanks for the reply horace. Though I did not take the trade, it is good to learn and become comfortable with the system. It is obvious that a lot of ppl are actively trading live on this system.

In my MT platform, I can not seem to get the trend line drawn easily. I click the trend line icon, and then go to the candle i want to start from, but from there, the line appears and then has to be directed by the mouse. And it never seems to be able to be directed easily. Is there another way to draw the trend line in MT4?

Regards,
Kermut
  • #2,420
  • Oct 2, 2006 5:50pm Oct 2, 2006 5:50pm
Mine is at 0.6765. Above the 4 hour 200 ema. The cross is meeting support in 6750.
Always wait for the opportune moment… just be careful not to miss it.
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