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MTPredictor Software reviews

  #35 (permalink)

London
 
Trading Experience: Beginner
Platform: NinjaTrader
Favorite Futures: silver,SI,YI,ZI, ES,EURUSD
 
Posts: 44 since Sep 2010
Thanks: 13 given, 16 received


Tallyho View Post
Glad to hear of your success Ganymed. I am new with MTP [looking to trade off the 3 & 5 minute charts] and found the DP trades very hard to be successful with. It seems it's so important to determine the larger degree trend [so I look at the 15 minute chart] yet there doesn't seem to be that much info about assessing that under all the different situations that the market creates day by day.

Of course they talk about going to a larger time frame and he refers to this lots on the Advanced blog, however I've found it inconclusive many many times....kind of depends on how far back you look on the larger degree chart...

I just stay away from the DP setups now. Any helpful thoughts?

thanks

With DP entries, if the bar at the DP setup has a long tail showing the market has reversed, I usually wait for the following bar that penetrates the order price to close. If that bar closes with no tail (indicating very little or no hesitation in the new direction) and all that happens within my risk size, I'll take it. But it is usually better to wait for a 2nd similar entry after the market has pulled back (usually from around the 100% R/R point) and is making a 2nd attempt to reverse.

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