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Long time trader reviews MTPredictor


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Long time trader reviews MTPredictor

  #51 (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

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
Thanks Given: 0
Thanks Received: 44


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'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


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'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


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
Thanks Given: 0
Thanks Received: 44


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'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

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: 104 since Apr 2013
Thanks Given: 51
Thanks Received: 85

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.

Sent using the NexusFi mobile app

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  #58 (permalink)
 
Kaimu's Avatar
 Kaimu 
Madrid - Spain
 
Experience: Advanced
Platform: Ninja
Trading: ES,NQ
Posts: 315 since Mar 2012
Thanks Given: 883
Thanks Received: 346

@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'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

any advanced user doing that leave committ ....thanks

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  #60 (permalink)
 
bob7123's Avatar
 bob7123 
Amsterdam, The Netherlands
Legendary Market Wizard
 
Experience: Intermediate
Platform: Ninja, IRT, ToS
Broker: EdgeClear, LMAX
Trading: NQ
Posts: 668 since Oct 2011
Thanks Given: 134
Thanks Received: 2,682


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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