Next setup, demand line break. Short...

Manual Backtesting Charts

Sorry, GBPUSD from April 06

Manual Backtesting Charts

Thanks Hans. Yes, you can use the strategy tester built into metatrader to backtest manually. It's awesome!

Manual Backtesting Charts

Well, we came within 19 pips of our projected price target, up 171 pips before we had this candle open below the demand line. Per Mouteki rules, we would CLOSE this trade, and since the open of the next candle is both below the supply line, and ...

Manual Backtesting Charts

OK. I stopped out at + 100 pips. Now lets see what would happen if you let the trade run with a + 10 stoploss...

Manual Backtesting Charts

Alright, next candle is formed, and it's a doji. Classic indecision candle. At this point, the close of that candle, we are up +107 pips. Are you still in? I would move my stoploss to +100 and see what happens. No way I'm taking only +10 on this one.

Manual Backtesting Charts

Very interesting now... We are up 128 pips. Would you wait for the 190, or take (atleast some) off the table. I'd probably wait to see what the next candle brought, but as far as I'm concerned, this is atleast a 100 pip winner and my entry was based ...

Manual Backtesting Charts

Yes, that's very true, but at some point you have to bank ACTUAL pips, and forgo POTENTIAL pips. You can always re-enter.

Manual Backtesting Charts

MAX PROFIT: + 53 pips MAX DD: - 18 pips STOPLOSS to + 10, and we're in another free trade...

Manual Backtesting Charts

Continuing on, and please, if anyone finds this boring, I can stop. I just find it fascinating, and hoped others would also...

Manual Backtesting Charts

12 hours later, we're stopped out. We could have taken more profit had we been watching the candles form, as price action gave clues that a turn was in the works, but +10 is better than a loser. And personally, if I were ever up 77 pips, I'd NEVER ...

Manual Backtesting Charts

Now, after 8 hours, we're up 38 pips. SL still at + 10.

Manual Backtesting Charts

4 hours later we have the following: Max loss: -10 pips Max. profit: + 77 pips So now you have set your stoploss to + 10 and you're in a free trade. Perhaps you have also taken some profits off the table if you're in for multiple lots. Onward...

Manual Backtesting Charts

Yes, twinchell said 2, but I really dont think you can extend lines into the past, then you could conceivably use ANY point, and that would be completely wrong. So it was a consensus of two!

Manual Backtesting Charts

So here's the setup:

Manual Backtesting Charts

Alright, so there seems to be consensus on point #3 as the correct line. That's what I thought too. Gimme a sec to run that test now.

Manual Backtesting Charts

Is extending a trendline into the past even permissable??? Once we get a consensus, I'll continue with the backtest, and post the result of the trade here. I have no idea what it is, I just chose the date at random. I've been doing that just to see ...

Manual Backtesting Charts

Another manual backtest... — Hi all, Running another manual backtest, and have a question... Where would you say is the highest high above the demand line? 1, 2, 3, or another point? As many answers as possible please.

Manual Backtesting Charts

Doesn't it always! But in all seriousness and fairness to MoutekiTrader, he has been extremely generous and kind in sharing his method, and I for one will be forever thankful to him.

Mouteki Trading

Hi Bill, I think you misunderstand. This morning MoutekiTrader started a thread indicating that HE would be able to provide 2 pip spread trading on MOST pairs. He also indicated that anyone who presumably used him as their broker, or IB, would also ...

Mouteki Trading