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Long time trader reviews MTPredictor


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Long time trader reviews MTPredictor

  #61 (permalink)
 
Sandpaddict's Avatar
 Sandpaddict 
Vancouver, Canada
 
Experience: Advanced
Platform: Ninjatrader, MT4
Broker: IB, Global Prime
Trading: Futures CFDs
Posts: 684 since Mar 2020
Thanks Given: 975
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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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  #62 (permalink)
 
forgiven's Avatar
 forgiven 
Fletcher NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 862 since Mar 2012
Thanks Given: 287
Thanks Received: 580


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

this same post i have seen on other forums

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  #63 (permalink)
 
forgiven's Avatar
 forgiven 
Fletcher NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 862 since Mar 2012
Thanks Given: 287
Thanks Received: 580



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.

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.

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  #64 (permalink)
 
forgiven's Avatar
 forgiven 
Fletcher NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 862 since Mar 2012
Thanks Given: 287
Thanks Received: 580


Sandpaddict View Post
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

Sent using the NexusFi mobile app

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

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  #65 (permalink)
 Koepisch 
@ Germany
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: FDAX
Posts: 569 since Nov 2011
Thanks Given: 440
Thanks Received: 518


forgiven View Post
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.

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  #66 (permalink)
 
forgiven's Avatar
 forgiven 
Fletcher NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 862 since Mar 2012
Thanks Given: 287
Thanks Received: 580


Koepisch View Post
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.

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 .

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  #67 (permalink)
 Koepisch 
@ Germany
 
Experience: Beginner
Platform: NinjaTrader
Broker: Mirus Futures/Zen-Fire
Trading: FDAX
Posts: 569 since Nov 2011
Thanks Given: 440
Thanks Received: 518


forgiven View 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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  #68 (permalink)
 
forgiven's Avatar
 forgiven 
Fletcher NC
Market Wizard
 
Experience: Intermediate
Platform: nijia trader
Broker: A.M.P. I.Q. ....C.Q.G.
Trading: ym es
Frequency: Every few days
Duration: Days
Posts: 862 since Mar 2012
Thanks Given: 287
Thanks Received: 580


Koepisch View Post
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

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

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  #69 (permalink)
 harrellb 
Atlanta, GA
 
Experience: Intermediate
Platform: Ninjatrader, Tradestation
Trading: Futures
Posts: 10 since Jun 2021
Thanks Given: 1
Thanks Received: 2

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!

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  #70 (permalink)
 kevinkdog   is a Vendor
 
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harrellb View Post
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!

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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