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Mouteki Updated. Check this out!!!

  • #21
  • Dec 3, 2006 9:57am Dec 3, 2006 9:57am
Draw a vertical line which hits the Crossing of Demand line and the line number 2.Then u locate a bar which "OPENs" Above the demand line. This bar should be the 1st bar. We only seek the opening. The u draw a vertical line on that bar ( on it's OPEN ).
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Forex has never been this SO exciteD !!
  • #22
  • Dec 3, 2006 10:06am Dec 3, 2006 10:06am
See that i have drawn the line number 4. This line is on the 1st bar which opens above the demand line.Now You are ready for the calculation :

Line 3 0.7779
Line 1 0.7613
Substract 0.0166 pips.

Now you add this 0.0166 pips with Line no. 4

Line 4 0.7835
0.0166
Sum 0.8001

So the target Price will be 0.8001


Hope this would satisfy u...


Leo
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  • #23
  • Dec 3, 2006 10:08am Dec 3, 2006 10:08am
May I ask why you did not choose any of the 2 highlighted areas? I am still trying to understand how to pick those points.
Thank you for your help.
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Steve
  • #24
  • Dec 3, 2006 10:20am Dec 3, 2006 10:20am
Quoting PipSteve
May I ask why you did not choose any of the 2 highlighted areas? I am still trying to understand how to pick those points.
Thank you for your help.
Hi Steve..

Sure u can pick those. But i'd rather pick the previous one, coz the previous one which i took, has not reached it's target price right? So u still have the chance to get pips. I'll show u that actually i did it step by step. It's the method of "Adjusting your trend line thru time".
Forex has never been this SO exciteD !!
  • #25
  • Dec 3, 2006 10:22am Dec 3, 2006 10:22am
This is the Previous AUD/USD. I draw a supply line and i have saved profit from that.
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  • #26
  • Dec 3, 2006 10:26am Dec 3, 2006 10:26am
When i saved profit from the previous one and i tried to make a new trend line. And this time, i made profit again..
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  • #27
  • Dec 3, 2006 10:32am Dec 3, 2006 10:32am
Then, i kept adjusting the trend line. See that i did it step by step. everytime i have saved pips, i adjust the trend line. Dont forget to put your stop loss. When u get lost profit, it means that the trend is going reverse... So far, that's all i know....



Leo
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  • #28
  • Dec 3, 2006 11:52am Dec 3, 2006 11:52am
Hey Leo, thanks for posting.

I am just curious, have you been having good success with this modified version during the choppy markets? The reason I ask is because the great success for this trending system is shown on this large trend move.

If the modification improves Mouteki during choppy market condition... it will be heavily utilized.

Either way, thanks again for your efforts... will be trading it next week.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #29
  • Dec 3, 2006 12:20pm Dec 3, 2006 12:20pm
Everything always looks good in a trending market, how about in choppy or consolidating markets?
  • #30
  • Dec 3, 2006 12:33pm Dec 3, 2006 12:33pm
Quoting et_phonehome_2
Everything always looks good in a trending market, how about in choppy or consolidating markets?
Beat you to it.. :
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #31
  • Dec 3, 2006 2:08pm Dec 3, 2006 2:08pm
You are correct in stating that this model works well in the trends, but i can state from experience that it gets butchered in chop (pun intended) ! It is why i "broke" the cardinal rule and use my TDTLs on other intraday charts as suggested by the master himself (DeMark) in his book on TA. What i mean by that is he plainly stated that his TDTLs "worked" on nearly any time frame. What i've found is when the market is in a tight trading range and all my buddys are getting killed with their bloody 4hr systems, dropping down to a 30m chart or even . . . gasp. . . a 15 m chart with TDTLs on them works!

I'm all for using TDTLs, and use them for nearly every trade entry. We just have to remember who invented them in the first place and look to the source for inspiration.

Not trying to be a rebel rouser, just sharing my experience.
: ) Thom
  • #32
  • Dec 3, 2006 5:46pm Dec 3, 2006 5:46pm
Quoting StockKJay
Beat you to it.. :
Give the man a PIP.
  • #33
  • Dec 3, 2006 7:00pm Dec 3, 2006 7:00pm
Quoting StockKJay
Hey Leo, thanks for posting.

I am just curious, have you been having good success with this modified version during the choppy markets? The reason I ask is because the great success for this trending system is shown on this large trend move.

If the modification improves Mouteki during choppy market condition... it will be heavily utilized.

Either way, thanks again for your efforts... will be trading it next week.
Thnks for your response. Wew! u have made me feel numb. I dont know whether i have traded in a choppy market. Maybe u should try this method in a virtual mode 1st before u go for Live trading.


Leo
Forex has never been this SO exciteD !!
  • #34
  • Dec 3, 2006 7:06pm Dec 3, 2006 7:06pm
Quoting accrete
You are correct in stating that this model works well in the trends, but i can state from experience that it gets butchered in chop (pun intended) ! It is why i "broke" the cardinal rule and use my TDTLs on other intraday charts as suggested by the master himself (DeMark) in his book on TA. What i mean by that is he plainly stated that his TDTLs "worked" on nearly any time frame. What i've found is when the market is in a tight trading range and all my buddys are getting killed with their bloody 4hr systems, dropping down to a 30m chart or even . . . gasp. . . a 15 m chart with TDTLs on them works!

I'm all for using TDTLs, and use them for nearly every trade entry. We just have to remember who invented them in the first place and look to the source for inspiration.

Not trying to be a rebel rouser, just sharing my experience.
: ) Thom
Hi accrete!
Thnks for your response. Can u attach here the DeMark document which explains what u have explained to us.

Leo
Forex has never been this SO exciteD !!
  • #35
  • Dec 3, 2006 8:05pm Dec 3, 2006 8:05pm
Quoting leo2006
Thnks for your response. Wew! u have made me feel numb. I dont know whether i have traded in a choppy market. Maybe u should try this method in a virtual mode 1st before u go for Live trading.


Leo
Dont think it is an insult or anything of the sort. Mouteki is a good system, any good modifications to it just add to its strength. I think it is important for individual traders to be able to spot a trend and use a system accordingly. Same goes for a sideways or choppy market. A system that performs at least BE during markets it isnt specifically designed for and does extremely well during the one it is is a really good system.

I will look close at your mods and thanks again.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #36
  • Dec 3, 2006 8:18pm Dec 3, 2006 8:18pm
Quoting StockKJay
Dont think it is an insult or anything of the sort. Mouteki is a good system, any good modifications to it just add to its strength. I think it is important for individual traders to be able to spot a trend and use a system accordingly. Same goes for a sideways or choppy market. A system that performs at least BE during markets it isnt specifically designed for and does extremely well during the one it is is a really good system.

I will look close at your mods and thanks again.
Actually i am glad for your post. It's just opened my eyes that what gonna happen if a choppy market exists and whether if we can still apply this mouteki method. Yes, u're right. We should know how to spot a trend and use the system accordingly.


Leo.
Forex has never been this SO exciteD !!
  • #37
  • Dec 4, 2006 12:45am Dec 4, 2006 12:45am
Greetings, you asked:
Quoting leo2006
Hi accrete!
Thnks for your response. Can u attach here the DeMark document which explains what u have explained to us.
Leo
Quoted from Tom DeMark's book "The New Science of Technical Analysis" on page 9 which is part of the chapter on TDTLs and this quote is actually in bold text in his book so he must have been trying to make a point!
Quote
For the purposes of discussion and illustration, I will generally refer to daily charts and data when in fact any other time period can be easily substituted.
So you see, if any of us insist on being "DeMark purists" we should be using daily charts. . . except that even the man himself says any time frame will work!

There is no magic in using 4 hour charts with trend lines. And there are professional traders like Raghee that insist that the trend begins at the stream not the ocean (i.e. smaller time frame vs larger time frame.)

Remember i'm not here to knock the "M" methodology, i've got the Mouteki Resource Page at my website : ) I would not have shared space on my domain freely of charge with no strings attached if i did not feel the basic concept was helpful.

: ) Thom
  • #38
  • Dec 4, 2006 3:15am Dec 4, 2006 3:15am
just want to point out that mouteki works better on minor pairs as oppposed to major pairs which have the big banks and istitutions driving themm.,..
BECAUSE I CAN !
  • #39
  • Dec 4, 2006 3:28am Dec 4, 2006 3:28am
Quoting accrete
Greetings, you asked:Quoted from Tom DeMark's book "The New Science of Technical Analysis" on page 9 which is part of the chapter on TDTLs and this quote is actually in bold text in his book so he must have been trying to make a point!So you see, if any of us insist on being "DeMark purists" we should be using daily charts. . . except that even the man himself says any time frame will work!

There is no magic in using 4 hour charts with trend lines. And there are professional traders like Raghee that insist that the trend begins at the stream not the ocean (i.e. smaller time frame vs larger time frame.)

Remember i'm not here to knock the "M" methodology, i've got the Mouteki Resource Page at my website : ) I would not have shared space on my domain freely of charge with no strings attached if i did not feel the basic concept was helpful.

: ) Thom
Hi Thom, Thnks for that Guess i meet someone expert than me now I am just offering a new way of trading using Mouteki. Anyway, i really appreciate your response and critics
And, Have u guys done Back testing on pairs using Mouteki? I did it and i found that, actually The price really hit the Projection points or the target price. although, it usually needs weeks even months ( ie 2-3 months. Wew! can u be patient till that time comes meanwhile the price actually hit your stop loss ) before it reaches the target price. So, It needs our patience, still.
My purpose here, is giving an example, that actually Mouteki can be applied and can bring profit to us. As long as u know when and how to use it wise.
About DeMark method, i dont know whether Mouteki himself or herself copied and adapted the demark method and Voila here comes the "Mouteki". All i know, that Someone has been trying to give his best/ her best in finding his/her way of trading. Let's appreciate for their effort.
Life is full of many choices. And choices is in your hand.


Best regards,

Leo
Forex has never been this SO exciteD !!
  • #40
  • Dec 4, 2006 3:30am Dec 4, 2006 3:30am
Quoting YasirYar
just want to point out that mouteki works better on minor pairs as oppposed to major pairs which have the big banks and istitutions driving themm.,..
Hello YasirYar!
Can u give us an example for Minor Pairs? Have u got profit by applying mouteki on minor pairs?

Best Greeting,

Leo
Forex has never been this SO exciteD !!
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