Here we can post screenshots of trades that didn't work out. Perhaps we can come up with filters...
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Quoting Horace KentDislikedHere we can post screenshots of trades that didn't work out. Perhaps we can come up with filters...Ignored
Quoting TheWickerDislikedOn the other hand the bar after the breakout bar could close 100 pips below the previous bar close and if you waited you would have missed it.Ignored
Quoting Horace KentDislikedHere we can post screenshots of trades that didn't work out. Perhaps we can come up with filters...Ignored
Quoting MNFXDislikedI thought you enter right when the bar opens and do not wait otherwise you will have lost profits. This was my undrstanding anyways.Ignored
Quoting branacDislikedYou are right MNFX, that's the original Mouteki system. Here, we are trying to find appropriate filters to cut out bad trades and lower the losses, that's all.Ignored
Quoting MNFXDislikedI understand and I am on board to finding appropriate filters. I would also like to know and find out what Mouteki's filters are. With that said, it is my belief that we as traders sometimes must be forced to find our own method or tweak another method (Mouteki system) for it to fully utilized by are own trading styles.
Anyways, I look forward to finding filters out there keeping in mind that price action is the core.Ignored
Quoting Horace KentDislikedHere we can post screenshots of trades that didn't work out. Perhaps we can come up with filters...Ignored
Quoting NipthePipsDislikedYou dont wait for the bar to close...just wait for it to surpass the previous lowIgnored
Quoting daerusDislikedHi Horace Kent,
Good thread you started here, as I think we need to start looking for additional filters (preferably based on price - not lagging indicators).
The filter you mention is a great filter combined with Mouteki, in my opinion. This isn't the only time it would have kept us out of a false break. If it's not actually a false break, then we can always re-enter on the next TL break.Ignored
Quoting sanchezDislikedThanks Horace you just cleared up something for me.. What in gods name is that blue x below the candle to the immediate right of the breakout candle .... Now I realise the x symbolizes no trade because the low is not lower then the breakout candle.. THANKS
I am running the Moutaki EA on a demo account and it never took the GU short so is the filter not already part of the EA.. Meaning the EA knows enough now not to enter trade?
Thanks,
SanchezIgnored
Quoting sanchezDislikedYes that is very true if you follow the system to precisely how it was designed.. However I think the poster is meaning that if you want to be ultra conservative you could wait for a completed candle on the opposite side of the demand line which is not touching rather then opening a trade upon seeing the open of the candle is on the southside of the demand line.
To me it makes sense.. You wont perhaps get as many pips on the downside if in fact it moves the direction of the indicators.. However the opposite is true.. You wont lose as many if the trade was not meant to be and turns against your position
SanchezIgnored