) that is an easy target for people like Mouteki. I bet the majority of FF users are browsing forex and simply hungry for some good information. They are here to learn. Thats why a lot of phishing is done here. Skunny, Mouteki, Ect. It is easy money for them. I'm not saying thay they are bad people or that they don't have something to teach, but phished they did. Sadly FF is a big pool of little fish (with a few big ones of course
To the Mouteki followers: I think it would do you all a great service to look at the fib expansions, scratch your heads a little and say, what is a fib expansion?! Okay, I'll show you. A fib expansion is a shift of a defined fib range. MT4 sets the default shift to 50%. This means that When you draw that expansion, you could have just dragged the 50 mark of your original fib to the low of your fib range. Your original 61 is now your 61 expansion level, your 100 line is your 100 expansion, and your outer 1.618 line is now your 161 expansion. This is just the 50% expansion, as mouteki uses.
The fact that expansions work, should get you guys thinking and experimenting on your own. The implication of the fib expansion is that fibs don't stay where you draw them; price drags them along. A fib can shift between 0-100%, for systematics sake the 50% works, but it is not perfect every time.
An experiment.....I want whoever is interested to start fibbing small swings. Follow price and when it hits your outer 1.382 ext, I want you to move your original 100 line to the first fractal price makes after it hits the 1.382. Go through the charts and see how many times you could have used the same fib. Watch the inner fib levels as you go along. Is price interacting with them?
This is just a small chunk, but there is so much more than mouteki is showing you. He is not teaching you the nuts, bolts, and inner workings, he is only showing you a system.
Learn the nuts and bolts, take price apart, and there will be no stopping you in your trading.
With warmest regards,
Scotty B
***EDIT***
I forgot to say that after you move your 0/100 line to those first fractals, wait for a break of the 0/100 line to follow price on to it's 1.382 ext.
Easy there killer, us bucks aint so bad.his accent aint from here tho
sounds more like brooklyn or maybe new england area
Some of the best folks I know are from the Buckeye and W. Va.
I was making reference (and I believe Twee was too) to another guy who ended up here in the bin not long ago. He was always implying that he lived in a plush condo in some tropical place. And he started a paid signal service that flopped. Turned out he was broadcasting from Ohio.
I know this is off topic, but this thread is in the recycle bin!
How is what you describe a scam? Put the blame where it belongs in this situation, with the individual trader who opens a live account before being ready. If a trader's strategy is even close to being profitable it should take a very long time to wipe out an account using newbie MM techniques (trade no more than 1% or so of your account, etc.) The traders are ill-prepared , their strategies are not adequately tested, they have no defined trading plan.
If a newbie opens an account and realizes a 20-30% drawdown, they should know better than to continue trading live. For every newbie who started trading live this week, 95% of them should study and test for at least several more months before going live.
We hear stories on this forum from trading veterans everyday about what NOT TO DO. But, new forex traders don't heed this advice. There has to be some personal accountability nowadays, doesn't there?!?!?
By the way, I have never made a live forex trade. I REFUSE to do so until I am properly prepared for the Forex Jungle!
