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MTP

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  #1 (permalink)
 Razor 
Yorktown, VA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Trading Group
Trading: TF, NQ
 
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Posts: 47 since Sep 2011
Thanks: 10 given, 22 received

Journal Purpose: Provide a forum for the MTPredictor Trading Platform discussion and trade setups.

Feel free to post any Trades / Lessons learned for others to see

Real-time trades probably would be best served by an actual Chat room.

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  #3 (permalink)
 Razor 
Yorktown, VA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Trading Group
Trading: TF, NQ
 
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Posts: 47 since Sep 2011
Thanks: 10 given, 22 received


This my take on a Market forecast using MTP and Elliot Waves:

Quick summary:
TF in wave 5 with a bull target of 866 (min wave 5) TF has been a text book pattern on the daily
ES in Wave 5 at min wave 5
YM in Wave 5 with an initial bull target of 13000 (min wave 5)
NQ not as clear best I can tell in Wave 3 up past Min Wave 3 looking to Max Wave 3 ? ( Apple bull run effects?)

https://futures.io/attachments/63036d1329487492

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  #4 (permalink)
 Razor 
Yorktown, VA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Trading Group
Trading: TF, NQ
 
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Posts: 47 since Sep 2011
Thanks: 10 given, 22 received

Currently in this trade we will see how it turns out. Realize I am using a combination of TTT and MTP for this trade. I had 15 min resistance and a TTT predicted penetration of the previous high.

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  #5 (permalink)
 Razor 
Yorktown, VA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Trading Group
Trading: TF, NQ
 
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Posts: 47 since Sep 2011
Thanks: 10 given, 22 received

Trade Entry:

1. I entered before the TS3 Short setup trying to anticipate a down market based on TTT looking for a R/R of 4.9
2. Had I waited for the TS3 trade I would have had better R/R ( Let the trade come to you)

How the Trade Turned Out:
Exited late for a R/R of 2.1....IE: I probably should have exited at the ATR stop using standard trade management

Trade Management / Exit:

1. Must consider the Market Context when in a trade. If you are in a strong trend and all markets are pointing the same direction then maybe thats the time to attempt to capture the move full wave 5 down and not just the Wave 3 as in this trade. ATR seemed to be a tell

2. Today the markets were not in coherence I probably should have exited at the Typical Wave 3 WPT or used standard trade management IE Strength bands past STF and managed with the ATR

3. If you are not in a strong trend trade then look for logical exits.... particularly if the other markets are moving sideways

Observations:
1. Different time-frames gave me different exit targets while in the trade, however I followed the time frame that seemed to fit best as to where the actual market was going (not sure if this is good technique or not)

2. As of 12:50 EST TF moving sideways

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  #6 (permalink)
Larry
Montreal
 
 
Posts: 59 since Oct 2009
Thanks: 3 given, 45 received

We had a nice TS4 signal on the 5 min chart and this wa at exactly at wave A = wave C so odds of a reversal in this area was there of course TTT MA had almost been reached but since Monday will be a Holiday a little push to the upside then sideways motion is not a surprise.

P.S You use very good tools to trade, I use same as you: TTT and MTP plus 2 or 3 indicators specifically for TF.

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  #7 (permalink)
 Razor 
Yorktown, VA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Trading Group
Trading: TF, NQ
 
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Posts: 47 since Sep 2011
Thanks: 10 given, 22 received

Larry,

Thanks for the reply....I learned something from your reply....I wasn't aware of the Wave A= Wave C there is a higher chance of reversal.

It makes sense since wave 3 is usually the largest of the 5-wave sequence. I should have been looking closely at the Typical Wave C WPT. The big question is wether you are in a wave-c or a wave 3?

As the trade was unfolding I thought I might be in a Holy Grail Major Wave 3 Down from the TS3 (1min) so I set my stop shy of the Typical Wave 3 WPT closer to the TTT MA.

The Major Wave 1 unfolded as a intermediate 5-wave down then an ABC correction on the Wave 2 followed by a TS3 sell so I was primed to follow through to the Wave 3 Target / TTT Ma.

I did see a base forming at 11:18 - 11:27 EST and that was another reason I opted out when I did. The goal was to let my profit run.

Razor

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  #8 (permalink)
Larry
Montreal
 
 
Posts: 59 since Oct 2009
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what I often do is I use extensions From Ninja and put these in place so I know the levels I have to watch for, so if I see MTP signal near the area with reversal then I sure will keep a very close eye on possible reversal.

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  #9 (permalink)
 Razor 
Yorktown, VA/USA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Optimus Trading Group
Trading: TF, NQ
 
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Posts: 47 since Sep 2011
Thanks: 10 given, 22 received

I assume you mean fibonacci extensions in Ninja 7?

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  #10 (permalink)
Larry
Montreal
 
 
Posts: 59 since Oct 2009
Thanks: 3 given, 45 received



Razor View Post
I assume you mean fibonacci extensions in Ninja 7?

Yes, you are correct I know all the Fibs levels that MTP is looking for to generate signals. I studied all these and came up with a default Fibs extesions in Ninja so that way I know in advance possible reversal areas then I wait to see which one will trigger an MTP signal. I have also made same for the DP's I know the prices in advance that should be reached to trigger them.

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