i would say I am a strong cynic . I would say its not B.S. however . The strength of the software is risk management and trading with the higher degree trend . These are not B.S. concepts . Where the software can make you a profitable trader any time soon , i would say no.
if you omitted the DP and volume spike trade signals from the system , would the confirmed EW traded set ups turn a profit wright out of the box ? or would they need filtered and refined by other means . thanks for sharing
Several years ago i've done strong systematic research with FDAX and MTP Setups (2-3 YEARS). It seems that there isn't any profit making possible, without manual filtering. And yes, i've watched all the video's at that time and due to my huge set of entries, exits, results and years of research i know every pattern behind the software very well. Nothing i could make profit of it. So i removed it since then from my system and never looked back.
But i have to be fair and must say that steve and his team has build a solid piece of software and they don't make any glossy profit promises. They are many many years in business and continuously improving their products. As a manual trader i would give it a try.
The following user says Thank You to Koepisch for this post:
thanks for sharing and I agree the concepts behind the software are good . here is the problem I have with it and Steve . as a manual trader I would need to filter the signals, which I am sure I could do . like only looking a long signals if the instrument being traded was trading above the 8 period EMA on the weekly , daily , 240 min, and 60 min. charts . then manually back testing and forward testing the long generated signals over 5 years of data . I am sure from my experience of trading 20 years there would most likely be a edge there . but that is a ton of work to do manually even if you know what you are doing .( if Steve ) if you are reading this would unlock the code inside ninja trader , you could take a program like bloodhound and do 5 years work in a afternoon .
I've done most of this. That are very easy filters, which doesn't work in the long run. AND YES the closed interface has wasted a lot of my time - but i had much fun and have learned a lot these times. I don't know if he teaches an other manual approach since then.
Cheers
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you tried all the filters . above value on all the referenced time frames , above the center point pivot om all the time frames . market breath indicators and intermarket annalists applied over the reverenced time frames . nothing worked . that is surprising but that is the reason i did not try it . any thing trying to improve the signal has to be done the hard way. . bloody nightmare
I can confirm that I was unable to find any profitable method for the last 60 days that I tested using the setups they describe in their videos. I realize this is a small sample size but, for me, if an intraday trading strategy can’t make money over any 60 day period then it is not a strategy I want to use. I have multiple long term (day time frame) successful strategies that have losing months that take me on average about 2 minutes a day to implement. If I am going to be working multiple hours a day trying to make money day trading then it has to be more successful than my longer term strategies. The whole point of day trading to me is to produce more predictable cash flow in the shorter term. If it can’t do that then I have zero reason to do it. I have yet to find a strategy that has been able to do that over a 6 month period. I have two working right now that are both profitable but it has only been 2 months. I keep working to find something because if I can then I would have confidence that my income is replaced. With the longer term strategies the drawdowns can vary so much that you really can’t know what your income will be in any given year. So you have to wait many years and have made a bunch of money in order to know you will be ok financially.
So the search goes on. One thing I refuse to do ever again is to pay more than around $200 for one month of anything. I have tried several products that I paid $500, $700, or thousands for that did not work. The conclusion I have come to is that these products know that if you use them for 30 or 60 days or got to backtest them for free that you would never shell out the “big” bucks for them. So I commend MTPredictor for having a subscription option which allowed me to backtest the strategies for myself. I also commend them for their focus on risk / reward ratio and keeping your trade size the same. I have found those ideas to be essential to my trading both short and long term. Maybe someone will take value in their tools by finding something outside of what they tell you to do. But I have moved on to other methods that made more sense to me and my style. We shall see if those end up working.
Thanks!
The following user says Thank You to harrellb for this post:
I applaud you for actually testing the approach yourself to see if it works. So many people blindly accept a method, without verifying it for themselves.
Testing and verifying, as you have found, is really key. Nice work.
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