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Mouteki Trading

  • #3,621
  • Oct 17, 2006 1:36pm Oct 17, 2006 1:36pm
Quoting coolhell
hello guys ..

I need to know 2 things plz ..

1st : is there a specific way to choose where to draw the demand \ supply lines ?? OR we can just draw it with any candles THAT LOOKS FINE with the draw ??

2nd : Is there a way to get Mouteki Alerts AT TIME ?? i recieve alert e-mails , but i'm asking if there is another way , If yes .. tell me where to read about it .

Sorry if the answers r in the thread BUT it's 127 pages & not easy to find the answers ..

Hope someone help me ..

Thanx a lot guys
Download Metatrader 4.0 (do a google search) and then go here and download light's indicator.
http://www.forexfactory.com/forexfor...2&page=3&pp=15

You may need help in understanding how to use the indicators in Metatrader, but there is a thread for for Metatrader as well, I think has that info.
  • #3,622
  • Oct 17, 2006 2:34pm Oct 17, 2006 2:34pm
<HR style="COLOR: #d1d1e1" SIZE=1> <!-- / icon and title --><!-- message -->

"long 1.2553 croesusfx"

Do you base your trade purely on mouteki? Thanks
  • #3,623
  • Oct 17, 2006 2:40pm Oct 17, 2006 2:40pm
Horace Kent
HI.. Just want to know if the blue and green moving average lines on your chart mean anything to you? I mean, do you use them as filter for trades?


Happy Trading
  • #3,624
  • Oct 17, 2006 3:44pm Oct 17, 2006 3:44pm
Quoting coolhell
hello guys ..

I need to know 2 things plz ..

1st : is there a specific way to choose where to draw the demand \ supply lines ?? OR we can just draw it with any candles THAT LOOKS FINE with the draw ??

2nd : Is there a way to get Mouteki Alerts AT TIME ?? i recieve alert e-mails , but i'm asking if there is another way , If yes .. tell me where to read about it .

Sorry if the answers r in the thread BUT it's 127 pages & not easy to find the answers ..

Hope someone help me ..

Thanx a lot guys


Read the system. You need to know more than how to draw the lines.


http://www.forexfactory.com/forexfor...ead.php?t=8464
  • #3,625
  • Oct 17, 2006 3:59pm Oct 17, 2006 3:59pm
mandie

at the moment I`m purley doing Mouteki, will give it a few weeks to see how it goes.
It would be great to find something like Mouteki as a long term and have it runnning along side my daily trading which can be up to 10/15 trades per day
  • #3,626
  • Oct 17, 2006 5:08pm Oct 17, 2006 5:08pm
Quoting ra300z
Not good, but looking at the charts, I don't see my TP taking for another 24-36 hours.

Based on Mouteki rules, I wouldn't have taken the trade. The demand line was too flat
Where can I eat crow? Currently -60, another -19 for SL.
  • #3,627
  • Oct 17, 2006 5:25pm Oct 17, 2006 5:25pm
Quoting ra300z
Where can I eat crow? Currently -60, another -19 for SL.
at least you admit it when you are wrong.. LOL Its ok, it hit Mouteki target, so maybe your s/l won't get hit afterall.

I didn't take the sell for a different reason, so much for reasoning..
  • #3,628
  • Oct 17, 2006 5:25pm Oct 17, 2006 5:25pm
hey gues... i took a long on gbp this morning at 900 am .. i am +30 pips on that right now.. but the demand and supply lines have shifted to make a new chart.. i have posted that here.. should i exit my position or keep it going??
Attached Image
BECAUSE I CAN !
  • #3,629
  • Edited 7:32pm Oct 17, 2006 6:21pm | Edited 7:32pm
Quoting YasirYar
hey gues... i took a long on gbp this morning at 900 am .. i am +30 pips on that right now.. but the demand and supply lines have shifted to make a new chart.. i have posted that here.. should i exit my position or keep it going??
I'm long on the pair too, and I have no Plans on exiting at this point, try drawing your supply/demand lines ont he Daily chart and you'll know what I'm talking about .
Attached Image
  • #3,630
  • Oct 17, 2006 7:16pm Oct 17, 2006 7:16pm
Quoting saaedb
I'm long on the pair too, and I have no Plans on exiting at this point, try drawing your supply/demand lines ont he Daily chart and you'll know what I'm talking about .
hmmmm but dont u look at the weekly pivots and everything?? and how long d ou think gbp is gonna go?? any idea?? thanx for the info tho
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  • #3,631
  • Oct 17, 2006 7:21pm Oct 17, 2006 7:21pm
Quoting YasirYar
hmmmm but dont u look at the weekly pivots and everything?? and how long d ou think gbp is gonna go?? any idea?? thanx for the info tho
Everyone trades very differently and there are more then one successful way to trade. For me, I use Daily Candle patterns and support/resistance levels to pick my trade direction and use the hourly chart to pull the trigger. I've just started to look at Mouteki guidelines and they are very impressive but I personally connect alot of other dots to his style before pulling the trigger.
  • #3,632
  • Oct 17, 2006 7:24pm Oct 17, 2006 7:24pm
Quoting saaedb
Everyone trades very differently and there are more then one successful way to trade. For me, I use Daily Candle patterns and support/resistance levels to pick my trade direction and use the hourly chart to pull the trigger. I've just started to look at Mouteki guidelines and they are very impressive but I personally connect alot of other dots to his style before pulling the trigger.
ok cool.. so tell me something.. if tomrorwo.. theres a big news event coming out.. would u exit ur current gbp trade becayuse the market is going to be rampant tomrorwr?? and do u think the gbp is going to go all the 150 pips up in the next 3 days??
BECAUSE I CAN !
  • #3,633
  • Oct 17, 2006 7:36pm Oct 17, 2006 7:36pm
Quoting YasirYar
ok cool.. so tell me something.. if tomrorwo.. theres a big news event coming out.. would u exit ur current gbp trade becayuse the market is going to be rampant tomrorwr?? and do u think the gbp is going to go all the 150 pips up in the next 3 days??
About your other question:

For how long will the pair move, I can't say anything, but keeping the fundamentals from the previous week and from today I've set my limit orders at 1.8875, and I have my current stops at under 1.8640. My entry point was from the 4 hour chart (1.8545), when there was a hammer formed at the demand line and there was a divergence signal on the RSI.

But I'll keep monitoring my trades at the close of every day and if I get some reversal signals on the daily charts, I'll either close my trades or put very tight stops and let the trade decide.

News days are very scary, and I might not be the best person to give advice on this but if the market is expecting strength for the GBP and I'm already Long on the pair, I'll put some stops and let the position run and make sure that I make my stops tighter few seconds before the news. On days like the NonFarm payrolls, I stay away till the news is out and I typically wait to see the figure or wait 15-30 mins after the news release and then find an entry in the direction of the market and let the trade run for the next couple of days. About will the GBP find more gains or not depends on tomorrows CPI new for the USD. I'll deal with my stops tomorrow before the news.
  • #3,634
  • Oct 17, 2006 7:48pm Oct 17, 2006 7:48pm
Quoting saaedb
About your other question:

For how long will the pair move, I can't say anything, but keeping the fundamentals from the previous week and from today I've set my limit orders at 1.8875, and I have my current stops at under 1.8640. My entry point was from the 4 hour chart (1.8545), when there was a hammer formed at the demand line and there was a divergence signal on the RSI.

But I'll keep monitoring my trades at the close of every day and if I get some reversal signals on the daily charts, I'll either close my trades or put very tight stops and let the trade decide.

News days are very scary, and I might not be the best person to give advice on this but if the market is expecting strength for the GBP and I'm already Long on the pair, I'll put some stops and let the position run and make sure that I make my stops tighter few seconds before the news. On days like the NonFarm payrolls, I stay away till the news is out and I typically wait to see the figure or wait 15-30 mins after the news release and then find an entry in the direction of the market and let the trade run for the next couple of days. About will the GBP find more gains or not depends on tomorrows CPI new for the USD. I'll deal with my stops tomorrow before the news.
hey thanx for the info man.. just one thing.. i do see a hammer on the 4h chart.. but arent hammers supposed to be reversal in the trend?? i see a small uptrend from 10 candles before the hammer.. so shudnt the hammer mean a downtrend?? and im not sure i see the divergence either.. this may be askin a lot from u but can u post a chart here showing the divergence and the hammer?? id be really obliged
BECAUSE I CAN !
  • #3,635
  • Oct 17, 2006 7:51pm Oct 17, 2006 7:51pm
Need someone to give an idea.
I am quite new with technical.
Attached Image
  • #3,636
  • Oct 17, 2006 8:05pm Oct 17, 2006 8:05pm
Quoting YasirYar
hey thanx for the info man.. just one thing.. i do see a hammer on the 4h chart.. but arent hammers supposed to be reversal in the trend?? i see a small uptrend from 10 candles before the hammer.. so shudnt the hammer mean a downtrend?? and im not sure i see the divergence either.. this may be askin a lot from u but can u post a chart here showing the divergence and the hammer?? id be really obliged
First of all the definition of a hammer is, it should come after a down trend. I think you're mixing up a Hammer and a Hanging Man.

For the divergence chart.... take a look at the attached picture.

The green line that you see next to the hammer is the demand line coming from the daily charts. (Daily Support). The hammer is making a lower low but the RSI failed to make a new low.

38.38 is the RSI for the red candle.
Attached Image
  • #3,637
  • Oct 17, 2006 9:22pm Oct 17, 2006 9:22pm
Quoting saaedb
First of all the definition of a hammer is, it should come after a down trend. I think you're mixing up a Hammer and a Hanging Man.

For the divergence chart.... take a look at the attached picture.

The green line that you see next to the hammer is the demand line coming from the daily charts. (Daily Support). The hammer is making a lower low but the RSI failed to make a new low.

38.38 is the RSI for the red candle.
ok thanx.. so u dont use a whole lot of indicators on your charts do u?? hey how long u been trading for?? are u a full time trader?? and where u frm
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  • #3,638
  • Oct 17, 2006 9:46pm Oct 17, 2006 9:46pm
wowser,,, ok from 9/28/06 at 0:00 GMT to this current moment in time, Mouteki sucks on this pair so far. Pure Mouteki, -253 pips.


Getting ready to post filter results here: http://www.forexfactory.com/forexfor...620#post118620
  • #3,639
  • Edited 10:00pm Oct 17, 2006 9:47pm | Edited 10:00pm
Quoting YasirYar
ok thanx.. so u dont use a whole lot of indicators on your charts do u?? hey how long u been trading for?? are u a full time trader?? and where u frm
Not many, just the RSI (only for divergence), support/resistance,Fibs, Bollinger Bands and candle patterns.

I've been trading for about 8 months and I do it part time. But I've done alot of reading and still learning. And I'm in the States.
  • #3,640
  • Oct 17, 2006 10:44pm Oct 17, 2006 10:44pm
Quoting saaedb
Not many, just the RSI (only for divergence), support/resistance,Fibs, Bollinger Bands and candle patterns.

I've been trading for about 8 months and I do it part time. But I've done alot of reading and still learning. And I'm in the States.
thats nice.. hey i tried using Bollinger bands.. but the problem with those are that once the price fluctuates the BB expand or contract.. so there isnt one reference point.. how do u personally study them?
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