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Long time trader reviews MTPredictor
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Long time trader reviews MTPredictor

  #1 (permalink)
Trading Apprentice
Cocoa, Florida / Brevard
 
Futures Experience: Advanced
Platform: MTPredictor
Favorite Futures: ES
 
Posts: 1 since Jul 2012
Thanks: 0 given, 1 received

Long time trader reviews MTPredictor

My opinion of MTPredictor

Over the past ten years, I have spent almost $10,000 dollars on software and seminars. Nothing has come close to MtPredictor. An old dog can learn new tricks! Over the years, I have picked up several bad habits that were just imposable for me to break. Two habits were ridiculous large positions and the second stupid habit was occasionally not having a stop order in case my trade went the wrong way.
Now with MTPredictor, I control my old habits through this software placing a controlled risk position having a stop loss to keep my losses small. Mentally, I was never able to do that. I failed repeatedly to control my emotions.
Also, the Webinars on Monday, Wednesday and Friday during real time are something to behold.
They explain in detail the chart patterns and exactly what to look for when these patterns unfold.
There are numerous recorded webinars which serve as a real education. This continues to be an ongoing education for me.
The software has an indicator called DP short for “Decision Point”. It is unbelievable how the market finds these DP points and reverse. You have to see it to believe it. Listen, you will not learn it over night. I paper traded for several weeks before trading a live account. I watched the videos over and over again. Sure, I have losses but the losses are small compared to my winning trades.
MTPredictor has made it possible for me to meet my goals!
Good luck trading,
R Scott
Florida

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  #2 (permalink)
Elite Member
Amsterdam, The Netherlands
 
Futures Experience: Intermediate
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Russel,

This is your only post, and is almost a year old.

Hmm.

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  #3 (permalink)
Elite Member
Grand Forks ND
 
Futures Experience: Beginner
Platform: TOS, Ninja Trader
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Posts: 27 since Apr 2012
Thanks: 10 given, 24 received

Thinking...


I was thinking the same thing??? I would like to know if anyone on futures.io (formerly BMT) is using the software and how is it going?

Also was wondering why all the videos I have found about the software none of them show live market use of the software just after the fact.

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  #4 (permalink)
Elite Member
Birmingham UK
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IG/eSignal
Favorite Futures: Dax
 
ratfink's Avatar
 
Posts: 3,336 since Dec 2012
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jet9jockey View Post
I was thinking the same thing??? I would like to know if anyone on futures.io (formerly BMT) is using the software and how is it going?

Also was wondering why all the videos I have found about the software none of them show live market use of the software just after the fact.

I have been a paid up MTPredictor user for several years, and though not actively now (prefer to concentrate on my own approaches inside NT) I can say that it was worthwhile.

I still do periodically fire it up but never seem to 'see' enough signals to make it worthwhile for my own style (which may be my problem of course.) In any case I think it is good value and the focus on position sizing, risk/reward and their cut-down EW approach has much merit when coupled with the DP and target areas. I probably should do more with it if I'm honest, I'll post an update if I re-factor it into my journal plans for the year ahead.

I don't know about the videos but you can watch Steve or John do a live hour 3 days a week on the web and ask anything you want about their approach. It may not be the 'Holy Grail' but it can be a useful and educational part of a trader's journey.

I have no affiliations with MTP whatsoever but am just happy to say its a good bit of software and education from a decent company.

Travel Well
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  #5 (permalink)
World'sWorstTrader
Knoxville Tennessee USA
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: ES, NQ, CL, /6E futures options.
 
Posts: 273 since Oct 2012
Thanks: 126 given, 79 received

Other locations (Forums)


Russell View Post
My opinion of MTPredictor

Over the past ten years, I have spent almost $10,000 dollars on software and seminars. Nothing has come close to MtPredictor. An old dog can learn new tricks! Over the years, I have picked up several bad habits that were just imposable for me to break. Two habits were ridiculous large positions and the second stupid habit was occasionally not having a stop order in case my trade went the wrong way.
Now with MTPredictor, I control my old habits through this software placing a controlled risk position having a stop loss to keep my losses small. Mentally, I was never able to do that. I failed repeatedly to control my emotions.
Also, the Webinars on Monday, Wednesday and Friday during real time are something to behold.
They explain in detail the chart patterns and exactly what to look for when these patterns unfold.
There are numerous recorded webinars which serve as a real education. This continues to be an ongoing education for me.
The software has an indicator called DP short for “Decision Point”. It is unbelievable how the market finds these DP points and reverse. You have to see it to believe it. Listen, you will not learn it over night. I paper traded for several weeks before trading a live account. I watched the videos over and over again. Sure, I have losses but the losses are small compared to my winning trades.
MTPredictor has made it possible for me to meet my goals!
Good luck trading,
R Scott
Florida

I have seen this exact same review at other locations. But I think MT Predictor is worthwhile.

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  #6 (permalink)
World'sWorstTrader
Knoxville Tennessee USA
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: ES, NQ, CL, /6E futures options.
 
Posts: 273 since Oct 2012
Thanks: 126 given, 79 received

Similar Methods.

It seems that you could use the ABC chart pattern, and the PriceActionSwing () located here at Big Mikes
and locate some of the patterns that are related to the MT Predictor ??

But from what most users say, the MT Predictor is a worth while software, and addition to NT.

My 2c.

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  #7 (permalink)
Elite Member
Amsterdam, The Netherlands
 
Futures Experience: Intermediate
Platform: Sierra, IRT, ToS, Ninja
Broker/Data: Stage 5
Favorite Futures: NQ
 
bob7123's Avatar
 
Posts: 583 since Oct 2011
Thanks: 105 given, 1,876 received

Would anyone be willing to define "worthwhile" a little more succinctly?

Does it help to train you, or is it something you plan to use permanently?

If the latter, do you have any metrics that indicate how much the tool enhanced your profitability?

Thanks,
-Bob

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  #8 (permalink)
World'sWorstTrader
Knoxville Tennessee USA
 
Futures Experience: Intermediate
Platform: TOS
Favorite Futures: ES, NQ, CL, /6E futures options.
 
Posts: 273 since Oct 2012
Thanks: 126 given, 79 received

reply

I have just subscribed to the MT Predictor. Will try to give an objective opinion later.

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  #9 (permalink)
Banned: User asked to be banned
Calgary, Canada
 
Futures Experience: Intermediate
Platform: Multiple
Broker/Data: Multiple
Favorite Futures: Multiple
 
Deucalion's Avatar
 
Posts: 430 since Aug 2009
Thanks: 103 given, 1,207 received


bob7123 View Post
Would anyone be willing to define "worthwhile" a little more succinctly?

Does it help to train you, or is it something you plan to use permanently?

If the latter, do you have any metrics that indicate how much the tool enhanced your profitability?

Thanks,
-Bob

Hi @bob7123, if you track all the posts regarding MTP on futures.io (formerly BMT), 99% of them are worthless, unbalanced one liners. I have used MTP for 4 years and will use it as long as I trade for a living. I have zero interest in posting my metrics, or convincing anyone else of the viability of an approach. If you believe in EW isolation theory and its viability as a trading tool, then you can start below to make your assessment (there is enough free information to make an initial, measured assessment) without buying anything. Even though I personally see it as a small business expense, trading is a big boy's game. The entry cost of a tool must not dissuade you. However, you must be convinced you can trade this way. Read the MTP stuff, study, attend the trading sessions. Put some sweat equity in it. Enjoy the journey, immerse yourself in discovery

Is EW Trade-able??--------------MTPredictor.com | Control Your Trading Risk and Win
Position Sizing---------------------MTPredictor.com | Control Your Trading Risk and Win
PDF Help Files---------------------MTPredictor.com | Control Your Trading Risk and Win
Training Videos--------------------MTPredictor.com | Control Your Trading Risk and Win


Only two things can happen along the way, you can fail or you can succeed. Either way, you are likely to learn a few things. Such is the cost of an education. Don't look for metrics from other traders. And ignore one line, out of the blue posts. They are unhelpful at best, just like 99% of the crap on the internet. Steve at MTP doesnt do much hard sell, you can still be completely skeptical of it all. I would never trade without MTP, all the same - my opinion means nothing. I use because I believe in the approach, I was willing to do anything to understand and make it work. It takes time. The basic approach is simple - the advanced power of isolation waves is the treasure that takes time, luck and effort.

This is what I posted 2years ago when I used to have a blog up with daily live trading results - https://futures.io/vendors-product-reviews/3510-mtpredictor-software-reviews-2.html#post92829

Welcome to the jungle. Time to grow up. For every 100traders that put in 40hrs of effort in a week, there is one trader that puts in 100hrs. Who has the edge here? This is a competitive business, and a blood sport. Anyone thinking any less deserves nothing but losses and bankruptcy.

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  #10 (permalink)
Elite Member
Quebec
 
Futures Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
Broker/Data: Stage 5 trading/AMP/CQG
Favorite Futures: ES, NQ, YM
 
trendisyourfriend's Avatar
 
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Deucalion View Post
...Welcome to the jungle. Time to grow up. For every 100traders that put in 40hrs of effort in a week, there is one trader that puts in 100hrs. Who has the edge here? This is a competitive business, and a blood sport. Anyone thinking any less deserves nothing but losses and bankruptcy.

I do not use EW or geometric/Fibonacci patterns but i have seen you post many charts in the ES spoon thread with a form of Volume Value Profile along with a Footprint chart to describe your trades. That's something i understand as i mainly use volume profile techniques and do not see a need to complement it with something else. My question is if the EW is so good then why do you feel the need to look at volume profile techniques? Why not just focus your attention on volume profile and avoid running through the jungle of the EW theory?

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