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Anyone Else Frustrated w/ Mouteki but don't want to give up?

  • #61
  • Nov 2, 2006 2:25pm Nov 2, 2006 2:25pm
Quoting smjones
Yes, I am saying if you were trading the Daily and it is in a long trade, so the most recent valid trend line is up, do not take a short on the 4hour chart. Only take long trades on the 4 hour chart.

That is just an example for clarification. I am not saying trade both the daily and the 4hour. I am saying trade the 4hour when it agrees with a daily trend.

Hope that clears it up a bit...
Then in that case, let's see what happens with eur/jpy. I "believe" if I understand correctly, the 4h just showed a buy and the daily was in a buy already.
  • #62
  • Nov 2, 2006 2:54pm Nov 2, 2006 2:54pm
I will take your word for it. I am not trading this currency. Please bear in mind, that nothing works all the time, it just increases the probability of success... Good trading. Scott



Quoting llambert3
Then in that case, let's see what happens with eur/jpy. I "believe" if I understand correctly, the 4h just showed a buy and the daily was in a buy already.
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  • #63
  • Nov 2, 2006 2:58pm Nov 2, 2006 2:58pm
Quoting smjones
I will take your word for it. I am not trading this currency. Please bear in mind, that nothing works all the time, it just increases the probability of success... Good trading. Scott
oh I know nothing works all the time. I am not trading it either, but it would be great if this one worked out so at least we can say "hey it worked"
  • #64
  • Nov 2, 2006 5:59pm Nov 2, 2006 5:59pm
Quoting smjones
Here, try this: switch to a daily chart and draw the same type Trend lines, both supply and demand. Then switch the same chart back to 4 hour and draw the 4 hour version in a different color. Now then, on the 4 hour chart you will see the daily trend lines and the 4hour trend lines. So, only place a trade that is valid for the 4hour trend line break and also is in the same direction as the daily trend line.

In other words, never trade the 4 hour trend line break, against the daily trend line. That is by definition a low probability trade.

It is simple, but very effective.
This is equivalent to using the daily trend line direction as the filter, in your case, half of the 4 hour trend line breaks (downward) will be filtered.. Also, from your graph even we trade the break it is still 200 pips away from the daily break.. maybe if we still take the signal we can earn more pips in teh long run. Anybody has programmed it and backtest it with both plain Mouteki and tweaked version for a full picture ? I am very interested and will do it soon.
  • #65
  • Nov 2, 2006 10:42pm Nov 2, 2006 10:42pm
thanks smjones for the filter .. it looks quite interesting ... i dont mind to take less trade ... i prefer to have a higher probability trade ... mayb i know what is the success rate for this filters? could u post some examples? thanks in advance...
  • #66
  • Nov 2, 2006 10:49pm Nov 2, 2006 10:49pm
Quoting saaedb
I've yet to see a case where the daily and the 4 hr break in the opposite direction. If this ever does happen I'll incline towards the bigger time frame break but at the same time I'll zoom in to a 30 Min chart and play the opposite breakout on the four hour chart with very conservative TP.
It all adds up to the individual trader.
i can assure u .. there are a lot of such cases.. considering the fac tthat i have been using this approach.. what smjones just taught us.. for the last 2 weeks... its surprising how a daily trend break is up.. and 2 hours later the 4h breaks for a lower low..
BECAUSE I CAN !
  • #67
  • Nov 2, 2006 10:50pm Nov 2, 2006 10:50pm
Quoting smjones
Yes, I am saying if you were trading the Daily and it is in a long trade, so the most recent valid trend line is up, do not take a short on the 4hour chart. Only take long trades on the 4 hour chart.

That is just an example for clarification. I am not saying trade both the daily and the 4hour. I am saying trade the 4hour when it agrees with a daily trend.

Hope that clears it up a bit...
hehe.. u nkow whats funny?? most of the trades which DID work out last week.. have been on the opposite of a daily trend line break.. ie. ive taken a 4h buy on a daily sell chart and made pips.. wierd..
BECAUSE I CAN !
  • #68
  • Nov 2, 2006 11:06pm Nov 2, 2006 11:06pm
yasir

am i just the unlucky one to have 4 losing mouteki in a row? yasir what pairs do u usually trade and which pair do u avoid? u dont use any filters do u ?
  • #69
  • Nov 2, 2006 11:12pm Nov 2, 2006 11:12pm
Quoting VyNNeR
yasir

am i just the unlucky one to have 4 losing mouteki in a row? yasir what pairs do u usually trade and which pair do u avoid? u dont use any filters do u ?
nope its been a bad week.. its the nfp week.. prices are crazy in this week.. next week shoul be ok i also lost a lot.. dont worry abt it.. and pairs dont matter.. but start from gbpusd and usdchf
BECAUSE I CAN !
  • #70
  • Nov 2, 2006 11:33pm Nov 2, 2006 11:33pm
yasir thx for the fast reply ... i have just PM u .. thanks again
  • #71
  • Nov 3, 2006 12:38am Nov 3, 2006 12:38am
sorry i dont understand what nfp mean can u xplain lil bit, yes its been a bad week for mouteki system i have 5 loss,

thanks
still in learning curve
  • #72
  • Nov 3, 2006 4:27am Nov 3, 2006 4:27am
Quoting taunted
sorry i dont understand what nfp mean can u xplain lil bit, yes its been a bad week for mouteki system i have 5 loss,

thanks
NFP= Non Farm Payroll, most important economic event right now in the market. It happens every first friday of the month and usually moves 100+ pips in few minutes.
  • #73
  • Nov 3, 2006 7:29am Nov 3, 2006 7:29am
damnit guys, dont you hate waking up, fumbling over to your computer/laptop, checking your terminal only to see you were stopped out before a nice move? lol. i think im just going to stop sleeping. sleep seems to be the enemy of a forex trader.

I had a trade on the eur/jpy, managed to take about 10pips, but wouldve still been in it 40+ today if i hadn't been stopped. Stupid nfp. stupid sleep.

I think I'm just going to totally change my sleeping schedule so as to wake up at the start of the london session, or shortly after.
- nick andre -
  • #74
  • Nov 3, 2006 8:10am Nov 3, 2006 8:10am
Quoting smjones
Here, try this: switch to a daily chart and draw the same type Trend lines, both supply and demand. Then switch the same chart back to 4 hour and draw the 4 hour version in a different color. Now then, on the 4 hour chart you will see the daily trend lines and the 4hour trend lines. So, only place a trade that is valid for the 4hour trend line break and also is in the same direction as the daily trend line.

In other words, never trade the 4 hour trend line break, against the daily trend line. That is by definition a low probability trade.

It is simple, but very effective.
Thanks for the input, just the direction I'm heading. I'm thinking trade the 4hr, use the daily for trend and s/r points, note Mouteki's/DeMark's trend line breaks and utilize James's price action to determine set ups and entries. One question - i've been adding s/r on the daily chart and can't get it to show up on the 4 hr. can you help?
  • #75
  • Nov 3, 2006 9:16am Nov 3, 2006 9:16am
@wicker thanks for ur reply

hmm it turn out not so bad week

i manage pull out aprox 200pip this friday it cover all my bad trade this week
and even gave me lil profit

maybe im just lucky with lil help from news well i take it

happy pipping
still in learning curve
  • #76
  • Nov 3, 2006 10:04am Nov 3, 2006 10:04am
Quoting Nick_likes_pips
damnit guys, dont you hate waking up, fumbling over to your computer/laptop, checking your terminal only to see you were stopped out before a nice move? lol. i think im just going to stop sleeping. sleep seems to be the enemy of a forex trader.

I had a trade on the eur/jpy, managed to take about 10pips, but wouldve still been in it 40+ today if i hadn't been stopped. Stupid nfp. stupid sleep.

I think I'm just going to totally change my sleeping schedule so as to wake up at the start of the london session, or shortly after.
It appears you are suffering from the fear of missing a trade. This one has the same negative impact as fear of loss, traders just don't talk so much about it, but should. It gets you into the trade even if you are late or clearly see that something is missing and you should avoid the trade.

Don't worry about that, you will miss many.
  • #77
  • Nov 3, 2006 10:10am Nov 3, 2006 10:10am
Though everyone here trade Mouteki whether live or demo, not everyone will have the same results. It all boils down to when you get in and out since I doubt you will see anyone waiting for the projected price to exit a position. I can only say if you wait for the projected price, you are bound to lose any gains you had had. Since I am just in demo mode right now, grab whatever PIPs you can using either FIBS, S/R, SAR, etc. Using the Mouteki projected price rules as a TP is very rare these days...
  • #78
  • Nov 16, 2006 2:35pm Nov 16, 2006 2:35pm
hi I have been reading through the Mouteki threads but think Iam too much the newbie to get into it ,but I did start to read his trend line info but was too tired to complete it and cannot refind it to start again can some one point me in the direction please , also where to find his how it works info
thanks in advance
jayalFX
  • #79
  • Nov 16, 2006 3:20pm Nov 16, 2006 3:20pm
Quoting JayalFX
hi I have been reading through the Mouteki threads but think Iam too much the newbie to get into it ,but I did start to read his trend line info but was too tired to complete it and cannot refind it to start again can some one point me in the direction please , also where to find his how it works info
thanks in advance
jayalFX
Go to the main Mouteki thread. His notes are attached to the first page.

http://www.forexfactory.com/forexfor...ead.php?t=8464
  • #80
  • Nov 16, 2006 3:32pm Nov 16, 2006 3:32pm
Quoting JayalFX
hi I have been reading through the Mouteki threads but think Iam too much the newbie to get into it ,but I did start to read his trend line info but was too tired to complete it and cannot refind it to start again can some one point me in the direction please , also where to find his how it works info
thanks in advance
jayalFX
hello jayalFX

Here's some examples
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Charting Markets into the Future...MǎҖ€¥.
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