Mouteki Trading | Page 22 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone still trading Mouteki? 45 replies

Jumper's journal of Mouteki trading 74 replies

Mouteki Trading System 3 replies

Favourable pairs for Mouteki trading... 7 replies

Kalesh's journal of Mouteki Trading 25 replies

Attachments: Mouteki Trading
Exit Attachments

Mouteki Trading

  • #421
  • Sep 12, 2006 8:49pm Sep 12, 2006 8:49pm
onager, according to mouteki's rules you don't, wait for a close, just an open
  • #422
  • Sep 12, 2006 9:00pm Sep 12, 2006 9:00pm
Have we resolved the question of why mouteki doesn't follow his own system on some of the examples in his powerpoint presentation?

A few of the anchor points he takes are not the most recent anchor points created by his definition (i.e. 2 lower/higher candles on either side).

Just curious.
  • #423
  • Sep 12, 2006 9:08pm Sep 12, 2006 9:08pm
Quoting Linuxser
Hi Mouteki.

I need to make a question to you. What is your charting software?

From the looks of Mouteki's chart it looks as though he is using Xtick charting.
  • #424
  • Sep 12, 2006 9:24pm Sep 12, 2006 9:24pm
Quoting allen.benjamin
onager, according to mouteki's rules you don't, wait for a close, just an open
It's the same, the new candle wouldn't open if the other doesn't close. And at the time of my post the new candle didn't open yet.
Anyway I'm short also.
  • #425
  • Sep 12, 2006 9:58pm Sep 12, 2006 9:58pm
Quoting moutekitrader
Currently looking at a setup on the eur/jpy. If the 8 pm candle opens below the current demand line a sell will be initiated with a 102 pip profit projection.

http://img106.imageshack.us/img106/4593/cg117qf2.png

Mouteki,

I love your system Mouteki, thank you for sharing it with us.
I have a couple of questions regarding your recent post #403.

On your chart you placed the verticle line 6 candles to the left of the end of the chart. The second candle to the left appears to have a higher high recorded for that time period above the demand line. Can you explain your reasoning for this. I am trying to apply your system in accordance with the rules you have provided in that very nice write-up. If you apply the verticle line to the second candle from the end of the chart, the projected price target is vastly different than the one projected for the sixth candle over.

Also, I know you have stated that your system has been optimized for 4 hr charts. Have you tested this system on daily time frames? I have been doing some manual backtesting the last couple of days with this system and if you run the procedure on the recent GBPUSD daily chart, your TL break system nailed the recent drop in the pound/dollar spot on!

Thanks again for you hard work and for being the generous soul that you are for trying to help aspiring traders such as myself and others here at FF.

I have attached a recent chart of the EURJPY to illustrate the above condition.


M
Attached Image
"You can make money or you can make excuses, you can't do both". unknown
  • #426
  • Sep 12, 2006 10:56pm Sep 12, 2006 10:56pm
Which indicator are you using that is writing the comments in the upper left of the chart?

Quoting jarroo
I was talking about the blue demand line. But, at a second look, it doesn't qualify as a demand line due to the two candle on each side rule.
  • #427
  • Sep 12, 2006 11:07pm Sep 12, 2006 11:07pm
It's the DeMark Trend indicator posted in this thread
Quoting BenQ
Which indicator are you using that is writing the comments in the upper left of the chart?
Trade what you see - Not what you think
  • #428
  • Sep 12, 2006 11:09pm Sep 12, 2006 11:09pm
Which is peferred so far -- the Demark, the TDTL or the Mouteki or hand-drawing? The TDTL and Mouteki appear to be similar.

Quoting summitfx
It's the DeMark Trend indicator posted in this thread
  • #429
  • Sep 12, 2006 11:10pm Sep 12, 2006 11:10pm
Sorry to be hassle, but I hven't received an answer to my posting #409.


Can nyone help please?

Thanks
  • #430
  • Sep 12, 2006 11:15pm Sep 12, 2006 11:15pm
Quoting Schpundoolas
I have a question about the step where we put the vertical lin thru the highest high and lowest low-

Do you use the highest high or lowest low that is in between the 2 points u use for the trend line? or you can still use the highest high that appears after point 1. Because some of my highest highs have been after my 1st (right side) point.
From the latest example, he didn't use the newer high bar because it would make for very small range.
  • #431
  • Sep 12, 2006 11:28pm Sep 12, 2006 11:28pm
Try to look eur/jpy on daily chart. It breaks supply line and going up but different with 4hr chart.

Please comment.
Attached Image
" master your setup, master your self "
  • #432
  • Sep 12, 2006 11:30pm Sep 12, 2006 11:30pm
Quoting BenQ
Which is peferred so far -- the Demark, the TDTL or the Mouteki or hand-drawing? The TDTL and Mouteki appear to be similar.
Hi BenQ

The Mouteki is the TDTL modified to draw Sup & Res line in accordance to this method.
Mono
  • #433
  • Sep 13, 2006 12:29am Sep 13, 2006 12:29am
EUR/JPY

Projection after open candle above supply line 244pips.
Attached Image
" master your setup, master your self "
  • #434
  • Sep 13, 2006 1:20am Sep 13, 2006 1:20am
Mouteki, great system, thank you.

Sorry if I missed it, but what about double tops/bottoms, can they be used as sup/res points, or does the fact that they are double tops disqualify one of the candles from being a s/r point?
  • #435
  • Edited 2:47am Sep 13, 2006 2:28am | Edited 2:47am
Quoting mpotis
Mouteki,

I love your system Mouteki, thank you for sharing it with us.
I have a couple of questions regarding your recent post #403.

On your chart you placed the verticle line 6 candles to the left of the end of the chart. The second candle to the left appears to have a higher high recorded for that time period above the demand line. Can you explain your reasoning for this. I am trying to apply your system in accordance with the rules you have provided in that very nice write-up. If you apply the verticle line to the second candle from the end of the chart, the projected price target is vastly different than the one projected for the sixth candle over.

Also, I know you have stated that your system has been optimized for 4 hr charts. Have you tested this system on daily time frames? I have been doing some manual backtesting the last couple of days with this system and if you run the procedure on the recent GBPUSD daily chart, your TL break system nailed the recent drop in the pound/dollar spot on!
M
Mpotis,

if I'm not seriously mistaken, when you draw a demand line you would not care about highs of candles at all. Just look at the lows of the candles.

I should refrain from writing too much because I'm not Moutekitrader , but from what I could tell, it looks like your observation about daily charts seems valid. This is so far not part of Mouteki Trading Method so it's just a possibility but referencing other time frame charts to validate your trade before getting in may help you stay away from getting in bad ones. Again, this is just my guess. So, please don't take this seriously.

Correction: I did not read Mpotis's post well before posting it...so please just disregard this message. Sorry!
  • #436
  • Sep 13, 2006 2:42am Sep 13, 2006 2:42am
mpotis,

I believe the highest high in between the two points that make the trendline should be considered.

Happ trading.
  • #437
  • Sep 13, 2006 3:22am Sep 13, 2006 3:22am
I haven't read every post here, so forgive me if this is a duplicate.

It appears Moutekitrader is using Level 2 TD trendlines.

For details see the TD article on page 24 of Sept. 2006 Currency Trader Magazine.

Dial

P.S. Great thread Mouteki, and interesting method of teaching. Give them one bite and let them chew it thoroughly before giving them the next bite! Probably a great aid to digestion. Good teaching technique Mouteki!
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #438
  • Sep 13, 2006 3:32am Sep 13, 2006 3:32am
Anyone notice on the e/u just now the TL was replotted by the indicator, and it counts bars that havent closed yet as part of the 2 candles on either side that are needed to be considered a valid point. I just assumed a candle needed to be closed to be considered a valid part of the 2 candles on either side that are needed. When the line was replotted the short on the e/u vanished as the demand line was lowered slightly. Indicator is great in pointing out possible spots to draw your TL but I think it has its limits?
  • #439
  • Sep 13, 2006 3:43am Sep 13, 2006 3:43am
Quoting PeterFM
Any high or low point along the drawn supply/demand lines can be used. If you check my earlier post you'll get the answer.
Peter
Thanks Peter, I checked the powerpoint examples again and there really are several examples picking the lowest low below the trendline/highest high above the trendline.
  • #440
  • Sep 13, 2006 3:44am Sep 13, 2006 3:44am
Quoting creztor
Anyone notice on the e/u just now the TL was replotted by the indicator, and it counts bars that havent closed yet as part of the 2 candles on either side that are needed to be considered a valid point. I just assumed a candle needed to be closed to be considered a valid part of the 2 candles on either side that are needed. When the line was replotted the short on the e/u vanished as the demand line was lowered slightly. Indicator is great in pointing out possible spots to draw your TL but I think it has its limits?
I think you are right on. Just as nothing beats manual backtesting for gaining confidence in a system, so too, nothing beats drawing trendlines by hand for getting a real feel for the price action.

Never trust an indicator you wouldn't take home to meet your Mother.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
3 traders viewing now