Successful Short Trades | Forex Factory

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Successful Short Trades

  • #1
  • First Post: Aug 14, 2007 11:03pm Aug 14, 2007 11:03pm
Three good demo trades using strict Mouteki entry signals and nothing more. Could have been a fourth if I'd used any sense. Entries in drk blue; exits in gold.

Exits determined by pure guesswork. Not good practice I know but I'm happy with the results nonetheless.

Mouteki_1.png
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Click to Enlarge Name: Mouteki_1.png Size: 28 KB
  • #2
  • Aug 27, 2007 10:47pm Aug 27, 2007 10:47pm
Four more really nice short trades courtesy Mouteki, or should I say Tom DeMark?

Anyway, I've refined slightly the way I draw the TLs (Level 2 TDTL) and added SR lines. Still trading the H4 but I check H1 and M30 to determine underlying PA prior to committing. Immediately set a 45-50 pip trailer on all pairs. I've also started setting TPs and actually hitting them at times. It's tough not to close out the position early and take my profit before hitting that TP. Great feeling when it hits though! It's well worth all the teeth gritting and itchy mouse finger. Stick to the strategy and allow the trade to play out!

I'm frankly amazed at how well such a stupid simple system seems to be working. If my luck holds out I'll hit close to 1,000 pips by the end of the month, give or take 100-200 pips or so.

Mouteki_2.png
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Click to Enlarge Name: Mouteki_2.png Size: 28 KB
  • #3
  • Aug 30, 2007 6:02pm Aug 30, 2007 6:02pm
This one isn't successful quite yet but the potential exists.

An aggressive interpretation would have me going short right now. I'll play it on the conservative side and wait for the second candle to open below the demand line.

What makes this a particularly interesting configuration is the fact the last candle is forming precisely beneath where the TLs cross. Also, price is flirting with mild resistance (light brown) at 116.1. You can't see it in this image but CCI is indicating an over bought condition. This whole setup is just screaming SHORT! IMHO, of course.

http://i175.photobucket.com/albums/w...Mouteki_UJ.png

oops. I hope I didn't do a bad thing posting the direct link to the image.
  • #4
  • Aug 30, 2007 6:19pm Aug 30, 2007 6:19pm
hai there

im newbie here.

can u attach your mouteki sys to me?
i try to use it but it appeal to many signal that make me very confuse about it
thanks
gerakkilat3780
  • #5
  • Aug 30, 2007 8:59pm Aug 30, 2007 8:59pm
Quoting gerakkilat3780
hai there

im newbie here.

can u attach your mouteki sys to me?
i try to use it but it appeal to many signal that make me very confuse about it
thanks
gerakkilat3780
Hi. Welcome to the forum. I'm new too.

Most of what I'm using can be found in this thread:
http://www.forexfactory.com/showthread.php?t=8464

I'm not using an EA or anything automated. It's all manual for me. Read the sticky threads started by moutekitrader and that should clear up a lot of your confusion. I'm still learning too!

I think the ultimate source on how to use this system can be found in the book The New Science of Technical Analysis (John Wiley & Sons, 1994) by Tom DeMark.

I hope that helped.
  • #6
  • Aug 30, 2007 9:37pm Aug 30, 2007 9:37pm
Oh so happy I kept it conservative. The price punched through 116.10 and the next candle opened above the supply line at 116.31. It's now a potential buy. Once again I'll play conservative and wait for the next candle to open on start of euro trading.
  • #7
  • Aug 31, 2007 7:23am Aug 31, 2007 7:23am
That's it. August is officially closed for me. I have a 4 day weekend to ponder and review my trades of the last 31 days. I've had a tendency to focus on the entries and give short shrift to exit strategy. Probably typical n00b behavior. I've also completely ignored the news which is something I think I should rectify in September.

I haven't added them all up yet but I know I'm well into the black by over 1,000 pips. I guess I'll be staying with TDTL for the time being. I'd like to refine it further and experiment with other indicators like fibo and MAs of various flavors so I really need to pick up a copy of The New Science of Technical Analysis. I'm committed to keeping it simple though. That's what originally attracted me to "Mouteki" in the first place.

I'd also like to incorporate more Jacko and james16 into my overall strategy. It seems to me there are elements of both that would fit well with any system.

Onward and upward. I hope my brain doesn't explode.
  • #8
  • Aug 31, 2007 7:31am Aug 31, 2007 7:31am
I had a good day on Wednesday with using Mouteki Trading.
Before I went to work Wednesday morning I noticed the GBP/JPY was breaking the trend line to the upside. I entered on the first candle after the break and let it run. When I got home after 5 pm I was sitting on $1800 profit! Got to Love It!!!
  • #9
  • Aug 31, 2007 8:01am Aug 31, 2007 8:01am
Sweeet!!
  • #10
  • Edited 8:49pm Sep 11, 2007 4:42pm | Edited 8:49pm
Man...I love this system...
Another good day at work.
Come home to find the trade I setup last night hit my TP level.
$1480+ profit. off the GBP/JPY.
Will update this post with a snapshot when I get back to my computer...http://picnac.com/images/729untitled.JPG
  • #11
  • Sep 11, 2007 10:34pm Sep 11, 2007 10:34pm
Hey jimbo, that is very cool! I just haven't been seeing that many good setups so far this month. So, like a dumbass, I've been digressing from the strategy and been trying to scalp pips. I really suck at it. I'm still battling that "must-be-in-a-trade-at-all-times" mentality.

If you don't mind my asking, are you live or demo?
  • #12
  • Sep 11, 2007 11:27pm Sep 11, 2007 11:27pm
Quoting opie999
Hey jimbo, that is very cool! I just haven't been seeing that many good setups so far this month. So, like a dumbass, I've been digressing from the strategy and been trying to scalp pips. I really suck at it. I'm still battling that "must-be-in-a-trade-at-all-times" mentality.

If you don't mind my asking, are you live or demo?
Hey

I like the way you are keeping things simple and sticking to your rules. If there are no set-ups that you see, sit on those hands and hold tight - staying out of the market is a position in itself.

I've done exactly what you did here and just couldn't help myself but go for a few quick scalps - still do on occasion - but invariably I wish I'd just stayed out and waited.

As Karmostaji would say ''Patience and Discipline''. You've definitely got something here so just stick to your guns - from what you've written so far I see you're learning fast - good on you

Kind Regards
Steve
  • #13
  • Sep 12, 2007 10:21am Sep 12, 2007 10:21am
Awesome! Thanks, Steve. Really appreciate the feedback from an old hand.
  • #14
  • Sep 12, 2007 6:13pm Sep 12, 2007 6:13pm
Quoting opie999
Hey jimbo, that is very cool! I just haven't been seeing that many good setups so far this month. So, like a dumbass, I've been digressing from the strategy and been trying to scalp pips. I really suck at it. I'm still battling that "must-be-in-a-trade-at-all-times" mentality.

If you don't mind my asking, are you live or demo?
I have just been waiting for the "Alert" on the MT4 to pop up, and then visually check it to see if it actually looks right. I prefer to have it like the picture I posted. Having the trend line that is over several days old. Prefer something close to 45 degrees angle. I have done three sucessful trades in the past 30 days, and one bad trade that was stopped out. (my fault...I entered on a trend line break that was really short trend between peaks A and B.)
BTW this is a LIVE account.

Just look at the original strategy, and look over all the samples that were posted so you get familiar with the patterns when they pop up.
I also prefer to trade the GBP/JPY...large spread, but when it moves...it MOVES!
  • #15
  • Sep 12, 2007 7:17pm Sep 12, 2007 7:17pm
A live account! That explains a lot! You have the ''Patience and Discipline'' part of the equation down cold by the sound of it! Ok, it's back to the books for me. Thanks, jimbo. Keep postin', man!
  • #16
  • Sep 13, 2007 9:26pm Sep 13, 2007 9:26pm
Did it again, placed the trade on the GBP/JPY around 8:00 am central time Thursday. I received an ALERT pop-up on the MT4 saying the trend line was breached on the 4 hr chart.
Opened the trade at Long 232.88 (sl 231.90 TP 234.05).
3.5 hours later...$1000.00+ profit.
Done trading for the week.
Just going to sit back and wait for this pair to set up again for a good trend break.
Trade snapshot.
http://picnac.com/images/3226GBPJPY091307.jpg
  • #17
  • Sep 14, 2007 7:01pm Sep 14, 2007 7:01pm
¥€$$$$$$!!!!! Congratz, man!!! Yeah, I'd say that's a good week's profit! LOL!

Hey jimbo, you are using D-Mouteki v3.32 personal.ex4 aren't you? Are you keeping the default settings when you activate it or are you tweaking it?

Also, does it update itself when a new configuration appears or do you have to manually "refresh" it somehow?

Dude, you're just kickin' butt and takin' names!
  • #18
  • Sep 28, 2007 7:18am Sep 28, 2007 7:18am
Thursday was another good day for the "Mouteki Method".
I have not traded this for several days..did not need to after the gains from last couple weeks...but I started again on the GBP/JPY yesterday morning.
I entered the trade at 7:20 central time at 233.61 before I left for work.
Set up a TP level of at 234.50 (was only comfortable with that level).
My TP was hit at 10 am central time for 79 pips profit.($689.00). Like to come home and see a gain in the account at the end of the day.
  • #19
  • Sep 28, 2007 3:27pm Sep 28, 2007 3:27pm
congratz Jim, following this trend has been great but CONFUSING becos i just realized i really don't kno anything anymore i can not even demo trade on FXCM [the paltform am using ] or shud i say want to use. and Opie999, ur doing VERY great and i wish i cud look at that book, u recommended [would try ] but what is this Mouteki method ? [ forgive me if i sound stupid but for now, itz a choice] i'ld appreciate any detail u can give this newbie to start as well as recommendation on broker to use for one outside the US and Europe. thanks
  • #20
  • Last Post: Feb 1, 2008 8:39am Feb 1, 2008 8:39am
Quoting opie999
Three good demo trades using strict Mouteki entry signals and nothing more. Could have been a fourth if I'd used any sense. Entries in drk blue; exits in gold.

Exits determined by pure guesswork. Not good practice I know but I'm happy with the results nonetheless.

Mouteki_1.png
First thing is,

you need to leave the charts and the averages alone. That's the first mistake, you sort of HAVE to go the opposite of where these brokers and companys train you and want you to go, then. Something starts to click.

Look up an ex-trader named Takiii on the TalkGold forums, i think you'll find something worth the ride.
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