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Mouteki Trading

Quoting deltaworld
I have a query regarding mouteki trading that has been bothering me for a while.

I have produced an animated gif of EUR/CAD to represent the dilemma that I am in.

In the frame 1 of the EUR/CAD I have the resistance line being broken by the 4H 16:00 candle as presented. At 20:00 the candle opens above the resistance line, signalling a BUY for the EUR/CAD.

The dilemma that I have is: if you look at frame 2.. Resistance Point 1 is now at a different location which therefore that same candle [4H 20:00] is now below the resistance line and is NOT a BUY signal.

I do recall that Mouteki mentioned that he constantly redraws the support and resistance lines to determine the signals, so does this mean that frame 1 of the graph is incorrect.

Your help would be much appreciated.

Regards
deltaworld
Great illustration DW!

Now I guess I'm confused! I dont see the "qualifying" subsequent bars (lower highs) on your second frame. It was my understanding that the TL in the first frame would still hold?

HeavyJ
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
Quoting HeavyJ
Howdy GY

AHA is doing some work on an EA in another thread you might want to check out. ---Here--- I just started looking at it and it looks promising!

Code makes my eyes hurt!

regards
HJ

HeavyJ to be lead astray from the Vegas way?
I'd never thought I'd see the day!
What demons must have this man posessed,
that from a strategy with profits blessed
he turns his back upon!

Trust price. Know yourself.
heavyj or seekinglight

how do I input the Meta Editor file you posted to the MT4 platform, thanks for you help
G
hi...


Just guessing ..but did everyone who took the recent long on cable get stopped out if you follow the +10 rule...?
mouteki failed again during today's news...damn it !
{Link Removed}]
Quoting HeavyJ
Howdy GY

AHA is doing some work on an EA in another thread you might want to check out. ---Here--- I just started looking at it and it looks promising!

Code makes my eyes hurt!

regards
HJ
Didn't look promising to me. Results were poor to OK, depending on the pair. The supply demand lines could be drawn using (i think) 200 candles which isn't how Mouteki does things.

I ended up writing my own Mouteki EA. I followed all of the early rules, but hadn't gotten around to coding the stop loss logic yet. The results were not great either. And I had an extern variable to set the number of candles and I used the previous 25 candles.
Quoting SeekingLight
HeavyJ to be lead astray from the Vegas way?
I'd never thought I'd see the day!
What demons must have this man posessed,
that from a strategy with profits blessed
he turns his back upon!

Now you Know that I would never enter without a solid 8ma Flip and 20 pip filter!


And as I was telling Dial, for someone who doesnt like "lines" on his Charts I can barely see my Bars anymore!

...ohh wait...I think I can sneek in the sidus indie in between the VWB and the GMMA.....Gotta Go!

HJ
HeavyJ -"Posterboy for Spellchecker!" "Will work for pips!"
yes, failed Mouteki trade. However, in all my backtesting a trade setup such as this and the eur/usd doesn't fail that often, so we take the loss and move on. It appears this long that occurred may have been a retracement for a steeper decline. We'll know in two hours, if the candle holds below the tl, it should be a sell (or another fake trade.....) - going UP or goind DOWN, that's for sure.
I Stoppedout too In that trade !!

Moutaki This week not cool at all.
Charting Markets into the Future...MǎҖ€¥.
Quoting MaXeY
I Stoppedout too In that trade !!

Moutaki This week not cool at all.
It worked for the initial retracement. But I didn't play any of Mouteki signal this week because of how weird the market is behaving with bullish dollar sentiment. All the numbers came out negative until the consumer confidence ... I would expect everyone here to profit in normal condition. But with the Korean thing happening ... I guess everyone wants to put money into the US.
Yeah I had three winners that were 20 pips in profit that turned to losers in my micro account last night. I should have moved the stops to BE before I went to bed.
Quoting jumper
Just a reminder: If you choose to go long on euro and cable, and short on swissy as well, you are just effectively tripling your position.

There are some who prefer to just go instead for the best of the 3 setups.
Break up your position size because one major might fail but the other one is still good. us/chf is a bit different from the euro/cable.
Still got profit from mouteki trading.
The key is always check your chart every 4 hours.
When you see the sign of reversal close, and don't forget to move your sl to +10 after +40 point, if you do this you still doing good with g/u this week.
Quoting heriyadi
Still got profit from mouteki trading.
The key is always check your chart every 4 hours.
When you see the sign of reversal close, and don't forget to move your sl to +10 after +40 point, if you do this you still doing good with g/u this week.
/Very Strongly Agree

/off


Nothing is hard, some things just take more time and discipline.
almost hit... good friday good friday
http://img156.imageshack.us/img156/3069/pic1af7.gif
or... i just keep it till monday hm... wonders
Please forgive me if this question has already been asked and answered. I have a question that is confusing me:

Let's say there is an upward trend line established. The highest point from that trendline is one bar to the left of the current low bar that established the trendline. From that high point I would draw a verticle line down to the trendline and measure the distance as the methodology describes to project my target.

If then 7 bars later for example, a new high is posted, would I recalculate the target based on the new high? In this example, GBPUSD, which is actually in progress as I write this question, that same 7th bar put in a new low as well, while closing exactly at the trendline - it spiked up as a result of the resale sales report this morning and then traded down. There is now only one bar to the right of the new low, which opened below the trendline, but is now trading above the trendline.

I guess this is a two part question. I hope it's clear. To reiterate:

1. Do I recalculate the target based on a newer high that formed on a bar to the right of the low that established the trendline?

2. How do I treat the new low that hasn't yet qualified (no two higher lows to the right yet)? Should I be short since a bar opened below the trendline, although above the new unqualified low that just ocurred? (oops, 3 part question.)

I'm trying to get a better grasp on the methodology. Any input you can provide would be very much appreciated.
Quoting kenari05
mouteki failed again during today's news...damn it !



if you use Mouteki, just before any news, b/c all bets are off if the news is against you
Quoting ignacio
Hi,

I developed an indicator yesterday... give a try if you want

It draws the two trends at once (with de projection).

well... when i finish the source code clean... maybe i'll upload!

Good look..
I have problems with the indicator. When I start working it is ok, but one month later i can't attach in the chart USD/JPY.
(Al principio funcionó bien, pero ahora no se puede adjuntar al gráfico en el par usd/jpy, tampoco funciona a través de los templates. ¿Lo podrías revisar?)

Thanks.

Coyan
i know the 50% and 33% rules but do you think it is possible to use the trendlines as stop loss indicator.
example: today he had a breakout of blue line in the eur/usd at 1.3529 . at the same candle the red trendline was at 1.2572. could that be used as a stop loss. and the stop will have to change on each close of a new candle.

i found on this thread someone advicing to close a position if it reverses (does that mean the same thing as in my idea


one more question (i hope that it doesn't sound too stupid) should we enter the moment the trend line is broken or we have to wait for the candle to break.

i am new to Mouteki trading and i find it very interesting.
has anyone counted how many trades have won and how many have lost??? (trading real accounts using Mouketi strategy.

thank you for your help and good luck for you all.
usdjpy this week summary

1) 119.30-119.06=24
119.29-0.24=119.05 hit +24 pips

2) 119.82-119.48= 34
119.56-0.34= 119.22 hit +34 pips

3) 119.46-119.08= 38 pips
119.64+0.38=120.02 target?
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