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Long time trader reviews MTPredictor

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  #1 (permalink)
Russell
Cocoa, Florida / Brevard
 
 
Posts: 1 since Jul 2012
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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)
 bob7123 
Amsterdam, The Netherlands
 
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Russel,

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

Hmm.

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  #3 (permalink)
 jet9jockey 
Grand Forks ND
 
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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)
 ratfink 
Birmingham UK
 
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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.

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  #5 (permalink)
 datahogg 
Knoxville Tennessee USA
 
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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 ďDecision PointĒ. 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)
 datahogg 
Knoxville Tennessee USA
 
Experience: Intermediate
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Trading: ES, NQ, CL, /6E futures options.
 
Posts: 327 since Oct 2012
Thanks: 134 given, 134 received

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)
 bob7123 
Amsterdam, The Netherlands
 
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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)
 datahogg 
Knoxville Tennessee USA
 
Experience: Intermediate
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Trading: ES, NQ, CL, /6E futures options.
 
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I have just subscribed to the MT Predictor. Will try to give an objective opinion later.

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  #9 (permalink)
 Deucalion 
Calgary, Canada
 
Experience: Intermediate
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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 -

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)
 trendisyourfriend 
Legendary Market Wizard
Quebec
 
Experience: Intermediate
Platform: NinjaTrader wt Rancho Dinero's profiling tools
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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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 Deucalion 
Calgary, Canada
 
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trendisyourfriend View Post
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?

I use the footprint, which is erroneously thought of, as a part of MP/VP. It is not. Footprint is modern day tape reading that merely confirms for me that there is an exchange taking place at a pre-determined EW level.

EW gives me structure, Footprint (and VP) confirms or may deny it. More importantly, my biggest wins that come from aggressive sizing at places of EW-Footprint confluence. It is a complementary approach, not cut and divide. You want the world in black and white VP boxes and black and white EW boxes. It is not so. If you feel EW is a waste of time, then don't read it. Sizing (and therefore outlier wins) matter in professional trading, Such trades, made at points of confluence can make your month or year in a singular trade. And often they come at confluence of things. I have seen the power of this, as you may have too.

If, in your opinion, VP is superior, all power to you. I make no such claims. - other than saying that EW isolation is a more elegant way of structuring the market, and appeals more to me than anything else. But I am free to use what ever I choose.

There are several EW purists who will not touch anything else other than the purity of waves, but to me, that doesn't make sense either. This is mostly an ego issue - my dick is bigger than yours mentality, highly prevalent on this forum. I will use anything that makes sense while keeping it as simple as possible. If your intention is to say that VP is better because nothing else is needed. And in comparison, another approach (like EW), requires additional input - thus making EW inferior. And subsequently proving VP is better, then who am I to argue with you?

Does that make you feel better?

It is every intent of mine to continuously refine every approach, take bits and pieces of everything and use it to make a living. While keeping EW the core of my approach. I believe I had posted a similar reply to you here, which conveyed this same thinking. Was that not acceptable?


Added Comment -

@GaryD had posted something eloquent on his thread about context and trading feel that is lovely thing to consider, to which I had added my two cents.

I feel too many of us get seduced by the false and harmful illusions of rules and structure. Some times it's comfortable to do so, sometimes its safe, still other times it's fashionable, but almost never do true breakthroughs in any field and any significant endeavor occur under structured thinking. A little bit of bending, a little bit of chaos and heretic thought is essential.

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  #12 (permalink)
 eudamonia 
Sacramento, CA
 
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Deucalion View Post
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.

Strong point. But let's be real - average traders spend 10-20 hours a week mucking around on trading forums and maybe 3-5 hours honing their craft. It doesn't actually take that much to be exceptional in this business or any other - it's just that so many people are satisfied with average. And yet they want exceptional results.

Take those 13-25 hours a week and focus entirely on honing your craft. Now do that for 5-10 years. Ta-dah! Holy grail. No one wants to hear that though.

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 GaryD 
Orlando, Florida
 
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Deucalion View Post

EW gives me structure, Footprint (and VP) confirms or may deny it.... It is complementary approach, not cut and divide.


I was a solid wave structure worshiper, but now find market profile to be very complimentary. It gives an additional depth to understanding when, where, why, and how far. As does volume reading, as does footprint reading, as do some divergences...

There is no such thing as understanding too much when it comes to trading. If there is conflict between two views, pass. There are so many trade opportunities in every day that there will be plenty that fit.

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 GaryD 
Orlando, Florida
 
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eudamonia View Post

Take those 13-25 hours a week and focus entirely on honing your craft. Now do that for 5-10 years. Ta-dah! Holy grail. No one wants to hear that though.

I do.

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  #15 (permalink)
 bob7123 
Amsterdam, The Netherlands
 
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Deucalion View Post
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 -

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.

Thanks Deucalion for your input. And sorry for the delayed reply, I've been away but I'm back now.

I looked at the links you posted, I particularly liked one of the PDFs: http://mtpredictor.com/data/mtpredic/uploads/pdf/Profits.pdf It is not so much about MTPredictor as a good document on managing expectations.

In regards to effort, I agree that hard work is needed, and I'm not afraid of that, but if possible I would like to avoid spending time barking up the wrong tree.

I'm reminded of the life of John Harrison, who invented the seagoing clock that allowed the British Navy to determine longitude at sea. He spent 30 fruitless years on the effort, building larger and more complex clocks, until it finally dawned on him that he should make a pocket watch instead. The rest as they say is history. (For the curious: John Harrison - Wikipedia, the free encyclopedia)

So in that context how would you say that MTPredictor is of value in becoming a profitable trader? And as someone who plans to continue to use it as long as you trade, how does it continue to help?

Thanks again for your comments.

-Bob

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  #16 (permalink)
 vchase 
London
 
Experience: Beginner
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The only complaint I have with MTP is their refusal to allow the outputs of the software to be used with any other NT7 add-ons etc. It is a completely closed indicator and can't be used with any of NT7's scripts or indicators.
Can't even use the alerts as an input to a strategy. I would imagine that many NT7 users would want to be able to have this work in a more integrated manner. And of course it can't be in any back tests.. All because they refuse to expose the outputs. I have no idea why, but it seems a misguided decision.

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  #17 (permalink)
 datahogg 
Knoxville Tennessee USA
 
Experience: Intermediate
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Trading: ES, NQ, CL, /6E futures options.
 
Posts: 327 since Oct 2012
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I purchased the MT Predictor and the Trade Module.

Besides purchasing the item you must pay some sort of tax because the business is in England vs US.

For me this was a complete waste of money. The canned signals were more often wrong than right.
The analysis was completely subjective.

On a positive note, I am doing well using Ron99's methods of selling options on futures.

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  #18 (permalink)
 Oltreoceano 
Perth Australia
 
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datahogg View Post
I purchased the MT Predictor and the Trade Module.

Besides purchasing the item you must pay some sort of tax because the business is in England vs US.

For me this was a complete waste of money. The canned signals were more often wrong than right.
The analysis was completely subjective.

On a positive note, I am doing well using Ron99's methods of selling options on futures.

I have recently purchased MTP and after studying the set ups and learning how to use them I am very profitable.
The S/R levels (Decision Points) taken off the 15M DP are very accurate and provide great turning points.
Furthermore, John and Steve's periodic webinars are great and their analysis is very easy to follow.
This guys are great people that want to see their customer succeed. They teach their customers how to use MTP at the highest possible way and how to become a professional trader, something that no many people I know are willing to do.

For sure if you haven't' grasp the concept you will never be happy with MTP.

Regards

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Fortitude
London, England.
 
 
Posts: 5 since Jan 2013
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datahogg View Post
I purchased the MT Predictor and the Trade Module.

Besides purchasing the item you must pay some sort of tax because the business is in England vs US.

For me this was a complete waste of money. The canned signals were more often wrong than right.
The analysis was completely subjective.

On a positive note, I am doing well using Ron99's methods of selling options on futures.

Hello datahogg. For some reason you describe yourself as the “World'sWorstTrader” and come from Knoxville Tennessee USA. Surely that can’t be true, that you are the “World'sWorstTrader”?

On the May 14th, 2013, 07:53 PM, you stated that, I quote;

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

Then nearly SEVEN months later, on the December 7th, 2013, 03:29 PM, you wrote;

“For me this was a complete waste of money. The canned signals were more often wrong than right.
The analysis was completely subjective.”

Did you subscribe for the short period of trial and ask for your money back, or are you still a user? Did you give this software the time and effort required to learn and for you, yourself to handle the ability to let your profits run? Some traders find it difficult to handle these BIG 10R plus trades, especially the Holy Grail trades…

It is a great shame that MTPredictor didn't work out for you personally. Other traders are doing great with MTPredictor.

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  #20 (permalink)
 bob7123 
Amsterdam, The Netherlands
 
Experience: Intermediate
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OK lets look at the past 2 posts:

-They were sent several minutes apart, both challenging criticism of MTPredictor.

-"Oltreoceano" has made 2 posts. One to introduce himself to futures.io (formerly BMT), the other above in support of MTPredictor.

-"Fortitude" has made 4 posts. All four singing praises of MTPredictor.

I smell b-llsh-t.

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  #21 (permalink)
Fortitude
London, England.
 
 
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bob7123 View Post
OK lets look at the past 2 posts:

-They were sent several minutes apart, both challenging criticism of MTPredictor.

-"Oltreoceano" has made 2 posts. One to introduce himself to futures.io (formerly BMT), the other above in support of MTPredictor.

-"Fortitude" has made 4 posts. All four singing praises of MTPredictor.

I smell b-llsh-t.


That is quite true Bob that I have made FOUR posts. In this FIFTH post on Big Mikes Forum, I will quote my FIRST post to you, with regards to your "I smell b-llsh-t" prose/contribution;



Fortitude View Post
MTPredictors' Holy Grail has been shown to work. I can understand why the 'non believers' and the 'non followers' ridicule it... Let them, I say...

Albert Einstein is quoted as saying, "Condemnation, without investigation, is the height of ignorance."

I have attended close to 300 of MTPredictors free hourly webinars. **That is 300 plus hours free training**
This is one of the MAJOR components of the MTPredictor software training and trading, once you become part of the MTPredictor Community. One of the major selling points of MTPredictor is the free one hourly webinars, three times a week.

I like the 'Holy Grail' set ups, which have the red volume spikes into a DP. Actually VOLUME is associated with me in the webinars... **Smiles**

I like the double 'Holy Grails' the best, where a five wave sequence into a 15 minute DP, followed by a RED Volume Spike, into a five wave reversal. That could possibly generate a 20R PLUS return.

As I said, I can understand why 'non believers' and the 'non followers' ridicule it all, they have the chance to walk away... **Smiles**


Just to update everybody else, I have now attended close to 450 hours of FREE webinar training which I am making good use of. MTPredictor is a fantastic piece of software and the support team I can only speak highly of. The FREE webinars to customers have now been going for over THREE years and MANY of us have found them inspiring.

MTPredictor is a SUCCESS story to those who MAKE THE EFFORT to learn.

Happy New Year to everybody.

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  #22 (permalink)
 bob7123 
Amsterdam, The Netherlands
 
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Fortitude View Post
That is quite true Bob that I have made FOUR posts. In this FIFTH post on Big Mikes Forum, I will quote my FIRST post to you, with regards to your "I smell b-llsh-t" prose/contribution;


...


Just to update everybody else, I have now attended close to 450 hours of FREE webinar training which I am making good use of. MTPredictor is a fantastic piece of software and the support team I can only speak highly of. The FREE webinars to customers have now been going for over THREE years and MANY of us have found them inspiring.

MTPredictor is a SUCCESS story to those who MAKE THE EFFORT to learn.

Happy New Year to everybody.

Wow, an indicator that will solve all my problems. Just what I need!

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 PK 1 
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Fortitude View Post
Just to update everybody else, I have now attended close to 450 hours of FREE webinar training which I am making good use of.

450 hours? You say the free webinars are going for three years now. Why should someone be doing this to itself, ... I'm just thinking loudly, either with the time one is learning the big thing or not but with this high frequency? I've seen a few webinars for myself, its good informaton how it goes and some hints in using it but not a way to get an update to the market which would make me understand watching this 450h in three years.

Long time I received mails regarding MTP, I was and still are interested in getting one more perspective to trade the market (and imho MTP still looks like a good assistence in the daily business), but reading some special pro-postings rather keep me away from a software which might be worthwhile.

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 Oltreoceano 
Perth Australia
 
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bob7123 View Post
OK lets look at the past 2 posts:

-They were sent several minutes apart, both challenging criticism of MTPredictor.

-"Oltreoceano" has made 2 posts. One to introduce himself to futures.io (formerly BMT), the other above in support of MTPredictor.

-"Fortitude" has made 4 posts. All four singing praises of MTPredictor.

I smell b-llsh-t.

Dear Bob7123,

I do not have enough time in my day to be here, actually I am here sometimes only to look for something interesting to read and learn, however, your opinion is your opinion and I accept it for what it is.

As I previously stated trading with MTP is not difficult once you have grasped the process/method.

Yes, quite often you get stopped out, but your losses are very small compared to your gains.

MTP is not just a trading platform, it's a complete set of tools that helps you identify S/R levels (would these be EWs, Decision Points "DP" or ABC corrections). The DP levels are the most reliable levels you can have on your charts.

Everything is based upon price action.

I have seen people's charts that require a degree in graphic design to understand them. That' for me is a bunch of BS. how can you trade if you have on your chart 6, 7 or more MA and so many indicators that always contradict one another???

My charts are clear... with only daily Support and daily Resistance levels, a volume indicator and a momentum indicator.

I live in Australia and since I trade during the US market hrs I am a bit disadvataged compared to other people who live in Europe or US. I usually trade 2 hrs/night. I can't afford to waste my time, so I need the best possible tools to execute my trades and MTP gives me exactly what I need.

My best trading set up is the opening gap as it has been explain to all MTP's owners.

That's all you need to be profitable.

My W/L ratio has improved not in tern of trades but in term of ticks (money). I personally prefer a method that gives a 50% W/L ratio if the wins are always at least twice in profit that the losses and quite often run for 3 5 or more reward, to a method that has 80% w/l ration with 10 ticks profit and 40 ticks loss like many out there .... do your maths.

With regard to the automatic set ups, when they appear on your chart, before you decide to pull the trigger, they need to be analysed according to the trading plan and rules that John and Steve teach to their customers.

Please note that contrary to many other trading developers, MTP's owners organise free ongoing live webinars, three times a week during trading hrs, accessible to all their clients. Once you have purchased MTP you do not pay for any other cost for your ongoing education or to attend the trading room.

I Personally have no financial interest in the company and I have never met the owners in person, but what I can tell is that they are great guys, very professional people whom stand behind their customers.

Kind Regards

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  #25 (permalink)
 bob7123 
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Dear Fortitude and Oltreoceano,

The fact remains that your 2 posts on January 10th 2014, were minutes apart on a thread that hadnít seen a post in a month. Both had a singular aim of countering criticism of the tool.

It still defies credulity that there wasnít coordination between you at least, if you arenít simply the same person, perhaps even the vendor.

In the ensuing year, Fortitude hasnít made any new posts on futures.io (formerly BMT), and Oltreoceano has made exactly one. (The post above) Nah, youíre not the vendor!

Whatever.

Looking again at the tool, which frankly I had lost interest in, I think credit is in fact due. Your tool places the trader's activity on the screen and gives their position context in the market. Something that beyond rudimentary buy and sell diamonds hasnít been seen much.

But pay 2 grand for this? When I stopped laughing I said no.

Personally, I view paying for indicators up there with paying for sex. Which, thanks to my good looks, charm, and longtime ability to code, is not needed in either case.

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  #26 (permalink)
 datahogg 
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bob7123 View Post
Dear Fortitude and Oltreoceano,

The fact remains that your 2 posts on January 10th 2014, were minutes apart on a thread that hadnít seen a post in a month. Both had a singular aim of countering criticism of the tool.

It still defies credulity that there wasnít coordination between you at least, if you arenít simply the same person, perhaps even the vendor.

In the ensuing year, Fortitude hasnít made any new posts on futures.io (formerly BMT), and Oltreoceano has made exactly one. (The post above) Nah, youíre not the vendor!

Whatever.

Looking again at the tool, which frankly I had lost interest in, I think credit is in fact due. Your tool places the trader's activity on the screen and gives their position context in the market. Something that beyond rudimentary buy and sell diamonds hasnít been seen much.

But pay 2 grand for this? When I stopped laughing I said no.

Personally, I view paying for indicators up there with paying for sex. Which, thanks to my good looks, charm, and longtime ability to code, is not needed in either case.

**************************************************************************************
Usually faced with a complex problem, the simplest answer is the best. MT predictor is so complicated that you need
to complete 80 hours of online training to use it. But pay 2 grand for this? I was one of the
stupid ones that paid 2 grand for it. I haven't stopped crying yet.

If you want to review a thread that is worth while, and provides useful information go to RON99's thread on
options.

My 2c from the "Worlds Worst Trader".

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 bob7123 
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datahogg View Post
**************************************************************************************
Usually faced with a complex problem, the simplest answer is the best. MT predictor is so complicated that you need
to complete 80 hours of online training to use it. But pay 2 grand for this? I was one of the
stupid ones that paid 2 grand for it. I haven't stopped crying yet.

If you want to review a thread that is worth while, and provides useful information go to RON99's thread on
options.

My 2c from the "Worlds Worst Trader".

The fool thinks himself wise, the wise man knows he is a fool. -William Shakespeare

So dry your eyes.

Now go give your money to the market like you're supposed to!

Actually, my 2 cents, you can't go wrong with Stage 5 trading. But you need a lot of patience and practice in any case. And you're gonna scrape your knee at least, more likely have days you wonder what TF you ever started trading for. But hang in there. Mean time, don't bet the rent money.

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  #28 (permalink)
 Big Mike 
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bob7123 View Post
Nah, youíre not the vendor!

Whatever.

He is not the author/owner of MTPredictor.

Please leave the policing to the moderators and simply report posts for investigation instead of making accusations.

Mike

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  #29 (permalink)
 bob7123 
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Big Mike View Post
He is not the author/owner of MTPredictor.

Please leave the policing to the moderators and simply report posts for investigation instead of making accusations.

Mike

Thanks for checking, and sorry if I stepped outside the rules of good conduct.

I still think this tread is shady. Looks like my intuition wasn't wholly unwarranted based on Datahogg's experience.

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 Big Mike 
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bob7123 View Post
Thanks for checking, and sorry if I stepped outside the rules of good conduct.

I still think this tread is shady. Looks like my intuition wasn't wholly unwarranted based on Datahogg's experience.

It isn't against futures.io (formerly BMT) policy for vendors to ask their users to write reviews.

And you have to understand a lot of people may place value on this product even if you or I would not. I would personally suggest people read the Random Line Theory thread and watch Adam's webinar on randomness, but even that provokes a lot of arguments.

It's human nature.

Sent from my phone

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  #31 (permalink)
 bob7123 
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Big Mike View Post
It isn't against futures.io (formerly BMT) policy for vendors to ask their users to write reviews.

And you have to understand a lot of people may place value on this product even if you or I would not. I would personally suggest people read the Random Line Theory thread and watch Adam's webinar on randomness, but even that provokes a lot of arguments.

It's human nature.

Sent from my phone

I hear you. It's also human nature to protect the young. I suppose when see threads like this, I think of how in the past with less experience I might have been drawn in.

I reiterate my credit for the product as well. Something that graphically places trades in the market context is a good thing, especially for newer traders.

Just not something worth anything near 2k. But let's not make Datahogg grab more Kleenex!

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 vchase 
London
 
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Just an opinion....
I've been using MTP for several years now. It's fine as training wheels and perhaps more than that. It is sometimes uncanny how well it finds trades on ES, and it has helped me make good profits. But in the end, it's an indicator, a good one, but just an indicator. The only issue I have with it, is that the code output is completely closed. None of it can be used in any custom NT strategies or other indicators. Therefore, can't be used in any back-testing either. For me as an NinjaTrader user, not being able to blend it with any other indicators or strategies, is almost a show-stopper. I do not understand why the vendor chooses to keep the signals closed off from the rest of NT. In my mind MTP has the potential to really enhance a trading strategy and MTP could very likely generate a whole ecosystem of community users creating powerful strategies with it; further increasing MTP sales.

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 datahogg 
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vchase View Post
Just an opinion....
I've been using MTP for several years now. It's fine as training wheels and perhaps more than that. It is sometimes uncanny how well it finds trades on ES, and it has helped me make good profits. But in the end, it's an indicator, a good one, but just an indicator. The only issue I have with it, is that the code output is completely closed. None of it can be used in any custom NT strategies or other indicators. Therefore, can't be used in any back-testing either. For me as an NinjaTrader user, not being able to blend it with any other indicators or strategies, is almost a show-stopper. I do not understand why the vendor chooses to keep the signals closed off from the rest of NT. In my mind MTP has the potential to really enhance a trading strategy and MTP could very likely generate a whole ecosystem of community users creating powerful strategies with it; further increasing MTP sales.

Actually I think a couple of moving averages can work as well as or better than the MTP system.

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 vchase 
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datahogg View Post
Actually I think a couple of moving averages can work as well as or better than the MTP system.

Same can be said for probably all other indicators.
Or even better .... a trend line, an understanding of market maths, a cup of coffee and good concentration.

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 vchase 
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Another good set of indicators that covers similar setups is the PriceActionSwing suite of three indicators.


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toatrader
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datahogg View Post
I purchased the MT Predictor and the Trade Module.

Besides purchasing the item you must pay some sort of tax because the business is in England vs US.

For me this was a complete waste of money. The canned signals were more often wrong than right.
The analysis was completely subjective.

On a positive note, I am doing well using Ron99's methods of selling options on futures.



Not sure what you mean by paying tax. If you are in England ( and mainland Europe) you pay a Goods and Service tax, nothing to do with MTP.
Anywhere else , you pay no tax.

You probably haven't spend the time to learn the system. It clearly states that some signals need to be ignored.

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 datahogg 
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toatrader View Post
Not sure what you mean by paying tax. If you are in England ( and mainland Europe) you pay a Goods and Service tax, nothing to do with MTP.
Anywhere else , you pay no tax.

You probably haven't spend the time to learn the system. It clearly states that some signals need to be ignored.



"some signals need to be ignored" OK which ones? You could do better by throwing darts
at a dart board.

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toatrader
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datahogg View Post
"some signals need to be ignored" OK which ones? You could do better by throwing darts
at a dart board.

Nonsense, it just shows that you haven't study the course or even attended the webinars.

I suggest that you go to the MTP website, go to their Forum and look under the MTP staff for Analysis by Steve Griffiths and "Holy Grail " July 29."

This shows you the real strengths of MTP. I hope that you can see how good MTP is and try again.

( I am a customer of MTP and bought the course. )

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  #39 (permalink)
 forgiven 
Fletcher NC
 
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i do not have the software but have used other type of elliot wave studies. i have bashed a lot of vendors on this forum...but you could do far worse than this compamy.... they are not selling snake oil with out any support. if you think you can just use auto-trader turned on and the wars over ..you are not going to like it. but if you do the hard work ....it could help your trading......( could does not mean will )

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 jeremymag 
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I just read this thread. Is interesting that no one mentions the fact that actually Mt predictor us a rip off of advanced get. That actually was a rip off of a trading system that was around way before the ad get was created. I learnt the inherent trading system on the early 90s and the person who taught me learnt it on the early 80s.
MT predictor main tools are reverse engineering of for instance the make or break study. That actually is just a combination of time and price fibonacci projections

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Griff1
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Hi Jeremy,

Incorrect................. As the developer of MTPredictor, I feel it is right that I step in here and correct this last post as it is wrong. The DP (Decision Point) level in MTPredictor is not a "rip off" from the Add GET MOB level, when I developed it, I tested it against the MOB and it was different on many occasions.

While the DP does use Fib ratio's it does not use time. So your statement, again, is incorrect.

Also, if you would like I could go into detail of all the other tools in MTPredictor that do not even exist in Add GET, so please be careful what you say in haste when it is not founded on the truth.

As the developer I do not normally post in these Threads, but it is only fair to put the record straight when posts are incorrect and not based on the truth.

Steve Griffiths
MTPredictor Developer

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Griff1
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Also, as a PS to my last Post. I feel that a little history on the development of MTPredictor is needed as well.

Yes, I did use to use Add GET a long time ago (as well as other software) but Add GET could not find the main trade set-up that I used in my own analysis at the time, which was catching the end of the Wave (2) to then trade the Wave (3). So that was the main reason for developing MTPredictor, to find a trade set-up that was not even present in Add Get. Also, I needed a way to easily and quickly calculate the Position Size of the Trade entry, which again, was not available in Add Get.

My second favourite MTPredictor set-up is the VS (Volume spike), which again, is not even present in the Add Get software.

So I am sorry, but to call MTPredictor a "rip off" of Add Get is completely incorrect, and again I feel that as the developer the readers of these posts need to know some history of MTPredictor to see the truth here.

Steve Griffiths
MTPredictor Developer

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 datahogg 
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jeremymag View Post
I just read this thread. Is interesting that no one mentions the fact that actually Mt predictor us a rip off of advanced get. That actually was a rip off of a trading system that was around way before the ad get was created. I learnt the inherent trading system on the early 90s and the person who taught me learnt it on the early 80s.
MT predictor main tools are reverse engineering of for instance the make or break study. That actually is just a combination of time and price fibonacci projections

There are a lot of cons in the investment world, an this is one of them.

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 vchase 
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jeremymag View Post
I just read this thread. Is interesting that no one mentions the fact that actually Mt predictor us a rip off of advanced get. .....

To call it a 'rip off' of that software is quite unfair. A wheel is not a rip off of a round rock. Is an EMA indicator a rip-off of an SMA indicator? Is every car a rip-off of the Model-T ? Just because you can see some similarities between them doesn't mean one is a rip-off or somehow fake, overpriced version of the other. No one has copyright over fib ratios or automatically finding them on a chart and there are several indicators that can do that; each doing so in their own way with varying degrees of success. I use MTP and one other and like them both for different reasons. I think MTP would agree that it was developed out of their experience using Advanced GET. But I doubt it would have been to arrive at a clone, but rather to improve on it and get it to do something or behave in ways it didn't do before.

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  #45 (permalink)
 jeremymag 
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Griff1 View Post
Hi Jeremy,

I tested it against the MOB and it was different on many occasions.

While the DP does use Fib ratio's it does not use time. So your statement, again, is incorrect.

Also, if you would like I could go into detail of all the other tools in MTPredictor that do not even exist in Add GET, so please be careful what you say in haste when it is not founded on the truth.

As the developer I do not normally post in these Threads, but it is only fair to put the record straight when posts are incorrect and not based on the truth.

Steve Griffiths
MTPredictor Developer

then as I said it was based on the mob, and if you dont use fibonacci time, you can go only 2 ways on getting the displacement. the angle of the movement or a fixed rule based. Indeed is not exactly the mob, while i saw the DP is more fixed than the MOB, the MOB actually recalculate over and over until the new max is achieved. I know the DP behaves differently. My solution on a half developed indicator has similar but not equal results since I use the original system (regarding MOB and DP)

Of the many tools you mention (I must admit by curiosity saw your recent ninjatrader ecosystem vids) fall into 2 categories, things that already existed such as dp, usual wave levels and oscilator and things that were available for free, for instance the risk reward was around for a while and I remember someone coding an indicator about it. Caveat i have no idea if mtpredictor had it before or not, but lets face it you didnt come up with the risk reward concept

The "usual levels" are flawed by nature, at least gives me a hint that you didnt actually knew the original system as Tom Joseph did (since all im talking is before the arrival of internet is a bit shady and lost). The complete lack of probabilitis treatment is a serious problema in relationship with the original system. But then again ad get didnt have it eaither, just the pti that is a lie since is an indicator and doesnt actually measure probabilities.
On the late 90s i had the opportunity to meet on a convention with TOm Joseph to make a burning question "did you run a probabilities test against possible movements as the theory should go", the answer was no, he only did minor back tests with the computing power available. Me? I secure access to a CRY 1 in college and tested all possible history available on the markets (tough thing to do before the internet that was only on the first or second year) and with the help of a math undergraduated I got an estimation of all relationships possible on all degrees, from them due to the bid data sample could derive pseudo probabilities for most movements. Amazingly enough TJ minor optimizations got some of the results just like them.
Moving forward Im an old fish that got really early on the game, so Elliott I know better than most.

Another disclaimer, I dont own MTP just used one of a friend a while back. I do own Ad get since 95

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  #46 (permalink)
 jeremymag 
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vchase View Post
To call it a 'rip off' of that software is quite unfair. A wheel is not a rip off of a round rock. Is an EMA indicator a rip-off of an SMA indicator? Is every car a rip-off of the Model-T ? Just because you can see some similarities between them doesn't mean one is a rip-off or somehow fake, overpriced version of the other. No one has copyright over fib ratios or automatically finding them on a chart and there are several indicators that can do that; each doing so in their own way with varying degrees of success. I use MTP and one other and like them both for different reasons. I think MTP would agree that it was developed out of their experience using Advanced GET. But I doubt it would have been to arrive at a clone, but rather to improve on it and get it to do something or behave in ways it didn't do before.

and yes, in the stock forum one normally uses rip off to quote relationshiop with something that existed before, and IS quite unfair, a good thing about your company is the teaching program, far better than elliott wave international, or esignal to mention the biggest players on the pond

And also I must admit that since ad get got stuck at 98 or 99 even 97. The mtpredictor I once new had advanced a lot and changed a lot.

Dont worry I seriously doubt than any plug in design by me will ever see the light of day since Im no programmer

regards

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 forgiven 
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datahogg View Post
There are a lot of cons in the investment world, an this is one of them.

i do not use this software but demo it.... i have used motive wave and other advanced elliot wave studies...this is not a rip-off.... mt predicator... does a good job for what it does...much better than advanced get ... now can you trade all the signals blind and turn a profit.... ( HELL NO ) but if you want to have a good eliot wave education and software to boot...you could do far worse than there stuff.... advanced get 4000.00 little education ...stuck with e-signal data feed for ever, expensive up dates for pattern search, no money management... motive wave ... good software , may not use broker free data...no education.. mt predicator...folds real nice into ninja trader... my 2 cents ... and by the way ...i do not use eliot waves any more... this was what i found when i was trying to.

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  #48 (permalink)
 forgiven 
Fletcher NC
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
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can you scan for trades in the direction of weekly, daily, and 240 min. trends not just 15 min/. looks like they would do better than just the 5 min to 15 min...

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  #49 (permalink)
 kburks 
Boynton Beach
 
Experience: Intermediate
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Can one use range bars to trade this software???

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  #50 (permalink)
 forgiven 
Fletcher NC
 
Experience: Intermediate
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datahogg View Post
I purchased the MT Predictor and the Trade Module.

Besides purchasing the item you must pay some sort of tax because the business is in England vs US.

For me this was a complete waste of money. The canned signals were more often wrong than right.
The analysis was completely subjective.

On a positive note, I am doing well using Ron99's methods of selling options on futures.

i live
in knoxville too

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  #51 (permalink)
 forgiven 
Fletcher NC
 
Experience: Intermediate
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does any one think it is easy as the software fires a signal... shazzam your in the trade the software does all the work and your green every day. all you do is keep taps on the profits. you will need to be able to tell what the market conditions are for the time frame your trading no matter what you are using. in a side ways market you will be chopped up using this on a 3min. chart. you have to be able to tell if your trending on the 15min chart and do you have road blocks on higher time frames than that. how to trade gaps if day trading. the higher time frame you trade waves on ...the better they work. like a 50 day ema on a 1 min. chart it does not mean much...but look at a weekly ..it means a hell of a lot.

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  #52 (permalink)
Griff1
Bristol, UK
 
 
Posts: 33 since Mar 2012
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forgiven View Post
does any one think it is easy as the software fires a signal... shazzam your in the trade the software does all the work and your green every day. all you do is keep taps on the profits. you will need to be able to tell what the market conditions are for the time frame your trading no matter what you are using. in a side ways market you will be chopped up using this on a 3min. chart. you have to be able to tell if your trending on the 15min chart and do you have road blocks on higher time frames than that. how to trade gaps if day trading. the higher time frame you trade waves on ...the better they work. like a 50 day ema on a 1 min. chart it does not mean much...but look at a weekly ..it means a hell of a lot.

Hi Forgiven,

I agree............. I see that markets appear random 50% (if not more) of the time, and as such should only be traded when their Pattern is clear. Markets go through cycles when their range contracts and expands, trends and consolidates. Looking at support and resistance on the higher time frame chart can help.
On the e-minis, the morning Gap can help, is it an inside (market fills the Gap) or outside gap (trend continues), can help.
All of this is not easy, and experience is a must. The hard thing is that experience takes time.
I have been following the Markets for 30 years (this year) and I find them as fascinating now as I did way back in 1987

Steve

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  #53 (permalink)
 forgiven 
Fletcher NC
 
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the problem is all new traders want to be green and making 1000.00 a day on a 3000.00 account. in 30 days ..living in Saint Kits with in a year. that is not going to happen no matter what there using. the truth is you will have to put in a lot of hard work to be green in 5 years. you may never learn to day trade.. it is not as easy as educators or vendor say it is. that is why they are vendors...they can not do it ..so do not feel bad. Steve software is the only program i have seen in 15 years that even have advanced risk management tools. that should tell you some thing about the other guys. i do not use the software but you could do worse than it compared to all the other b.s. that is out there . like looking for better shine waves on 3 time frames, holy grail foot print charts, gann time waves..holy grail trading domes, ect. ect.

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  #54 (permalink)
 forgiven 
Fletcher NC
 
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Griff1 View Post
Hi Forgiven,

I agree............. I see that markets appear random 50% (if not more) of the time, and as such should only be traded when their Pattern is clear. Markets go through cycles when their range contracts and expands, trends and consolidates. Looking at support and resistance on the higher time frame chart can help.
On the e-minis, the morning Gap can help, is it an inside (market fills the Gap) or outside gap (trend continues), can help.
All of this is not easy, and experience is a must. The hard thing is that experience takes time.
I have been following the Markets for 30 years (this year) and I find them as fascinating now as I did way back in 1987

Steve

i know where you got your training ...why have not added auto fib. time projections to the software. i know you know how to use them. do they not work...

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  #55 (permalink)
Griff1
Bristol, UK
 
 
Posts: 33 since Mar 2012
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forgiven View Post
i know where you got your training ...why have not added auto fib. time projections to the software. i know you know how to use them. do they not work...

Hi Forgiven,

Thanks for your question.

As we have been discussing, the main thing to consider, is Risk Control and understanding that markets go through cycles, so markets should not be traded 100% of the time. This tends to override any individual analysis technique. So to keep things simple we do not have Auto Fib Time projections in our software. Having said that, adding some simple time analysis routines is something that I am considering re visiting in the future.

On the question of time, my first experience of Time Analysis was from a System called "Epsilon" sold by a Guy called Neil Stringer here in the UK a long time ago, but it turned out to be Wells Wilder's Delta System re-sold legally ! However, over the years I have seen that there are some times during the day (on the e-minis especially) when turns tend to happen, for example 9:45-10:15am especially when used with the opening gap, then if there is a strong move initially it tends to end around 11:04-11:15, if it continues past this time, then 12:30 is the next time to look for the move to end.

Thanks.........

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  #56 (permalink)
 forgiven 
Fletcher NC
 
Experience: Intermediate
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i know most of your sales are to newer shorter time frame traders. if you did add on advanced fib, time projections and advance fib. swing tools to build fib. clusters it would open up sales to the more advanced longer time frame market...thanks

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  #57 (permalink)
 planetmoto 
freasno, ca usa
 
Experience: Advanced
Platform: ninja trader
Trading: forex
 
Posts: 103 since Apr 2013
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Regardless of what anyone thinks of this platform the solution is simple. If the CFTC or SEC imposed a mandatory registration and 3rd party audited (real account) trade performance data on anyone selling any and every indicator or strategy/system that would cut down on marketing hype and non performing systems. Granted the logistics of this would be cumbersome at first I am confident it would improve over time and serve to cleanup the industry.

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  #58 (permalink)
 ignacio90 
Madrid - Spain
 
Experience: Advanced
Platform: Ninja
Trading: ES
 
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Posts: 149 since Mar 2012
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@planetmoto

The question is who wants to clean up the industry? We don't leave in a wonderful world. Money=corruption. If nobody will help you in that, train your mind to do the right choices.

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  #59 (permalink)
 forgiven 
Fletcher NC
 
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any advanced user doing that leave committ ....thanks

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  #60 (permalink)
 bob7123 
Amsterdam, The Netherlands
 
Experience: Intermediate
Platform: Sierra, IRT, ToS, Ninja
Broker: Stage 5
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NinjaTrader is hosting a webinar on using this tool with NT. [!]

I'll give these guys some credit for perseverance, but I called BS on this thing back in 2014.

Scroll back to post #15 on this thread. Or just click here.

Also, if anyone is thinking of signing up, please read this thread in its entirety. I'm not the only cynic.

And if you're one of the developers who want to tell me about how much I'm missing out, I'll save you the effort: "Oh well! I guess I'm destined to stay poor as I don't sign up." Trying to tickle my FOMO bone is a waste of time.

To the rest of the community: There are no such things as unicorns or holy grails. You're welcome.

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  #61 (permalink)
 Sandpaddict 
Langley
 
Experience: Intermediate
Platform: Ninjatrader
Broker: IB
Trading: Futures
 
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Posts: 484 since Mar 2020
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bob7123 View Post
NinjaTrader is hosting a webinar on using this tool with NT. [!]

I'll give these guys some credit for perseverance, but I called BS on this thing back in 2014.

Scroll back to post #15 on this thread. Or just click here.

Also, if anyone is thinking of signing up, please read this thread in its entirety. I'm not the only cynic.

And if you're one of the developers who want to tell me about how much I'm missing out, I'll save you the effort: "Oh well! I guess I'm destined to stay poor as I don't sign up." Trying to tickle my FOMO bone is a waste of time.

To the rest of the community: There are no such things as unicorns or holy grails. You're welcome.

This product is still going.

I purchased it recently and it's a game changer.

Admittedly it's a monthly subscription as I'm not sure I would have paid $2000... (although having used it now I probably would)

I think what all the posts are missing is the functionality of this software.

Honestly that's why I purchased the product.

You don't have to follow the signals blindly. The creators don't and repeat it constantly.

I don't even use the signals!

I set my stops and profit targets and the software calculates the proper position size and executes perfectly.

From there I can move my stop to B/E, activate ATR stop, follow last bar, and take partial profits at any "R" value, exit all... ALL WITH ONE BUTTON.

Everything is calculated for you as far as correct position sizing for your setups as well.

I have been looking for something that does this for a long time. And I'm always disappointed.

Not this time.

That is why so far I think this software is amazing and it doesn't deserve the bad press on here

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