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MTPredictor Software reviews

  #53 (permalink)

Calgary, Canada
Trading Experience: Intermediate
Platform: Multiple
Broker/Data: Multiple
Favorite Futures: Multiple
Deucalion's Avatar
Posts: 430 since Aug 2009

ness1g View Post
Hi Deucalion,
Are you still using mtp?
Do you recommend buying it?

Do I use it? - Very much so, both in ES Emini and FX trading.

Do I recommend it? Yes and No, not for its signals. For how it teaches you the importance of position sizing and risk control. That is golden. Their signals and algo part, is more difficult to master. And with flaws. It is often unable to identify correct impulses and subsequently paints incorrect corrective wave/cycle points. The concept that the signals are based on (Elliot Wave Isolation) can be learned with price action trading and Fibs.

For Example - Yesterday, there was a buy in AUDJPY shown marked. MTP did in fact identify that as a buy/ However. I was already going to buy it here as that was point of optimal cycle contraction and a point of anticipated resumption of expansion that can be learned by study of price patterns. It took me years to understand why MTP painted a buy there, Now I get it. But MTP did help me along the way. So I keep it in my arsenal. So, this is a very qualified response. I have spent more money on other tools - like Order Flow, VSA, Profiling, time data mining etc etc - I don't use any of them now. They are inferior in opinion as a complete trading approach. A complete trading approach is one addresses position sizing. None of them do.

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