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Mouteki Trading

I think the two points used for support or resistance are the ones you analyzed monday mornings. Tuesday is where you place trades if analysis is confirmed and once the trade finished you wait for next week.


I think?
Quoting cgldsmth
well the USDCAD was not a good signal - stopped out -20 pps.
yes, it's not a signal yet, because Demand Line is'nt broken yet,

you must wait when next candlestick open below the Demand Line.

which means, maybe in the next 1 1/2 hour.




p/s correct me if i'm wrong.
I want to ask if the time zone influences the way of trading. I think mouteki is GMT-6, and I'm GMT+2, and when I look at the 4H chart's that mouteki posts as examples and I look at metatrader chart(FXDD) they don't look the same. Can some one tell me if this influences how you should trade or not?.

Thank you.
Optimu.

Ps: I have atached a mq4 EA that draws the trend lines. Can some one tell if they are correct?
Attached File(s)
File Type: mq4 mouteki.mq4   2 KB | 609 downloads
mine had broken below demand line, then whipsawed back through the SL.

Quoting sergen
yes, it's not a signal yet, because Demand Line is'nt broken yet,

you must wait when next candlestick open below the Demand Line.

which means, maybe in the next 1 1/2 hour.




p/s correct me if i'm wrong.
TRADE FOR SWAP
Just a suggestion which I think has been mentioned before by PeterFM. If you have just got on to this thread, and still have questions. Re-read the initial doc or the pdf I provided. Nothing new has been added to it by Mouteki(yet) we are waiting so you will find your basic answers in there.

Once you have fully digested that you may have some curly questions, but Mouteki hasn't finished fully outlining the method yet.

Definitely don't put real money on until you understand the basic document.

As I said just a suggestion and it will keep the thread more user friendly.

At this stage there are a couple of extant areas to be covered such as:

 

  1. stop losses
  2. whether the vertical line can be outside the two points if you are system purist
  3. anything else mouteki cares to add.

He has stated that he will provide more information installments as we go, kind of like a big classroom.

I have same problem like you. I open two different broker on 4 hr chart (IBFX and NortFinance) on GBP/USD. I relise that GBP/USD have broken supply line but on North Finance GBP/USD break demand line.

I think someone here please answer our question.
Thanks.
" master your setup, master your self "
Quoting cgldsmth
mine had broken below demand line, then whipsawed back through the SL.

You know, when I first started this system, I use to worry about it when my trade would go against me immediately and took hours for it to return, but in that I learned that for this sytem to work you have to be patient, Yea it may seem like a very good system looking back on the charts, but you have to put yourself in that time period, what was happening to the charts once i placed that trade, did it whipsaw up and then come crashing down? Did I have to wait days in order for the target to reach? And considering those questions you have to conclude that it would most likely have similar actions now.

For example EURJPY last night gave a short signal then shot up about 25+ pips for a couple of hours before crashing down to target...and thats one of the less stressful long trades. I still have a trade open on EURAUD. It gave a short symbold and went up to a maximum of about 70 pips, it is just now starting to return to my sell price, and is slowly crashing down. It might be the end of this week before that trade reaches target.

So a 20 pip stop loss is a little small, considering these trades could take days to complete. In order for price to reach target you gotta be much more patient.
Nothing is hard, some things just take more time and discipline.
Having gone through the Power Point examples sent by Mouteki a 2nd and 3rd time, I'm seeing things that I missed the first time.

Example #5 - Value of trendline below High s/be approx 1.8960 (not 1.8973) - I don't have access to my live charts at the moment and am relying on a hand drawn version. The profit projection would be calculated at 185 pips. With the entry at 1.9020, the TP should then be 1.8835. Did the price reach this or did it turn up prior to that.

Example #6 - Lowest low s/be red candle to the left of 1st point or the 3rd red candle to the right of 1st point. The verticle is drawn thro the 2nd red candle to the right of 1st point, giving a slightly different profit projection. In this case the profit projection will turn out to be less than that quoted in the example and the price would have reached it.

The purpose of this posting is more to clear up, with your help, confusion in my own mind. Taking to heart Mouteki's assertion of the need to be precise, I wonder if these differences are mere "slips of the mouse".

Any viewshttp://www.forexfactory.com/forexfor...cons/icon5.gif

cc
thanks, wise words. it was also perhaps a bad trade to take given the imminent economic data.



Quoting NipthePips
You know, when I first started this system, I use to worry about it when my trade would go against me immediately and took hours for it to return, but in that I learned that for this sytem to work you have to be patient, Yea it may seem like a very good system looking back on the charts, but you have to put yourself in that time period, what was happening to the charts once i placed that trade, did it whipsaw up and then come crashing down? Did I have to wait days in order for the target to reach? And considering those questions you have to conclude that it would most likely have similar actions now.

For example EURJPY last night gave a short signal then shot up about 25+ pips for a couple of hours before crashing down to target...and thats one of the less stressful long trades. I still have a trade open on EURAUD. It gave a short symbold and went up to a maximum of about 70 pips, it is just now starting to return to my sell price, and is slowly crashing down. It might be the end of this week before that trade reaches target.

So a 20 pip stop loss is a little small, considering these trades could take days to complete. In order for price to reach target you gotta be much more patient.
TRADE FOR SWAP
I have talked about that example 5 in page 30 or 31 of this thread.
Hello to everyone...

I was wondering, does anyone have an alert or signal, which will activate once a trend line has been broken, and the next candle has opened (below/above the line)?
Is there anything out there like this?

Best Regards.
any one has tried this system on H1 chart??? is it practical?
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Quoting Thebigmo
But the calculation was the difference between the highest and the intersection of the highest and the demand line.


The first open bar below the demand line was the application of the pip projection. The calculation should have been 188 pips.
maybe thats is how the owner come out with the system when price broken below demand line... good question anyway
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if next open is above supply line.
Attached Image
Quoting cgldsmth
thanks, wise words. it was also perhaps a bad trade to take given the imminent economic data.

Yea...that too lol
Nothing is hard, some things just take more time and discipline.
I think the two most important things i learned in this thread is starting your analysis in the opening of the trading week, and the second to draw trend lines right to left.

This trading style is very important because it really does say a lot of how traders trade. They open positions on mondays and close evrything on fridays. This is why most pros tell you avoid fridays.
just a silly question but needs to be answered as could lead to confusiondo 4 hour charts all change there bar at the same time no matter what time frame you are or what chart package you use .
My mt4 charts just changed bar 3pm uk time.

if charts are changing at differant times then people will have differant entry triggers. thanks
I think all examples in Mouteki's PPP and Word document done on the historical data, not live. At least Word document is 100% historical. I don't know if it's as good as live examples.

Now fractals. It seems no one took my advice to add fractal indikator to the chart (post 156). I did and it makes my life much easier
In the micropowerpoint presentation slide 24 he used the lowest value below trend line.

What is that.

Can anybody paste it here so we can analyze the meaning of that?
In my oppinion slide 24 is ok
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