Mouteki Updated. Check this out!!!

Quoting leo2006

Disliked

Hi wan,

Bullish Engulfing pattern : It's a BUY signal which consists of 2 candle stick. The second candle must ENGULF or cover the 1st candle.

Bearish Engulfing pattern : It's a SELL signal which consists of 2 candle stick. The second candle must ENGULF or cover the 1st candle.

I will show you in an example.


Leo

Ignored

Quoting leo2006

Disliked

Hi wan,

Bullish Engulfing pattern : It's a BUY signal which consists of 2 candle stick. The second candle must ENGULF or cover the 1st candle.

Bearish Engulfing pattern : It's a SELL signal which consists of 2 candle stick. The second candle must ENGULF or cover the 1st candle.

I will show you in an example.


Leo

Ignored

Quoting wan_grunge

Disliked

what do you mean cover the 1st candle? Does it mean cover fully the open close / high low?

Ignored

Quoting leo2006

Disliked

Yes.It covers the previous OPEN and CLOSE. NOT cover the previous HIGH and LOW. In the japanesse candle stick, the OPEn and the CLOSE of a STICK is called a BODY. So, the 2nd candle's body must cover the 1st candle's body.

LEo

Ignored

Quoting twoblink

Disliked

I don't know how much "Mouteki" most have done on this forum, but I've personally have been butchered in the chop chop.. Trends are fine, but the chop really kills mouteki..

Also, Mouteki is more of an art than a science; that's my conclusion. Pick the correct two points, and you are gold, pick the wrong ones, and you are lead..

That said, Mouteki works on the principle of minor resistance, and trending tunnels. Usually a "tunnel" has a given amplitude, and so if that is true, you can draw a pullback/retracement line a la TD points, and that will define the trending tunnel; and now you just measure the amplitude of that tunnel, and you will get your Target TP point..

That is great in theory, and works will in trending markets.. In chop chop however, that is a totally different story.

The problem exists (FULL CIRCLE BACK AGAIN) in the definition and the capture of the definition of a trend. We can all tell a trend in hindsight, but a "trend" is kind of like pornography, difficult to define but we all know it in hindsight when we see it.

I will throw caution to the wind, those who are trading mouteki.. not discouraging anybody from trading it, but after having HAND DRAWN over 2000+ mouteki lines, I feel I understand the beast and understand how it works...

and caveat,

there is a reason I don't trade it..

That said, I use them as my S/L points and lines, and the work incredibly well, better than almost anything else I have ever used. I have replaced my ATR-trailing stops with TD-line levels, and that has saved me a lot of pips...

Ignored

Quoting twoblink

Disliked

I don't know how much "Mouteki" most have done on this forum, but I've personally have been butchered in the chop chop.. Trends are fine, but the chop really kills mouteki..

Also, Mouteki is more of an art than a science; that's my conclusion. Pick the correct two points, and you are gold, pick the wrong ones, and you are lead..

That said, Mouteki works on the principle of minor resistance, and trending tunnels. Usually a "tunnel" has a given amplitude, and so if that is true, you can draw a pullback/retracement line a la TD points, and that will define the trending tunnel; and now you just measure the amplitude of that tunnel, and you will get your Target TP point..

That is great in theory, and works will in trending markets.. In chop chop however, that is a totally different story.

The problem exists (FULL CIRCLE BACK AGAIN) in the definition and the capture of the definition of a trend. We can all tell a trend in hindsight, but a "trend" is kind of like pornography, difficult to define but we all know it in hindsight when we see it.

I will throw caution to the wind, those who are trading mouteki.. not discouraging anybody from trading it, but after having HAND DRAWN over 2000+ mouteki lines, I feel I understand the beast and understand how it works...

and caveat,

there is a reason I don't trade it..

That said, I use them as my S/L points and lines, and the work incredibly well, better than almost anything else I have ever used. I have replaced my ATR-trailing stops with TD-line levels, and that has saved me a lot of pips...

Ignored

Quoting leo2006

Disliked

Fyuh! Thnks for the briefing I do agree that Mouteki does not work in Choppy market. It works well in a trending market. Thats why i left it behind. Coz i, myself, has lost a lot when trading with Mouteki
Dont u read my post ( the last pages ?? ) That actually i have abandoned Mouteki and actually i am opening a new Thread which is more reliable ??


Happy Trading,


Leo

Ignored

Quoting matrixebiz

Disliked

What are you working on now? I would like to forward test it.
Thanks

Ignored

Quoting leo2006

Disliked

Hi all!

I just want to share this updated version of mouteki with u, guys..Hope u like it.


Happy trading!


Leo

Ignored