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Power of MTP for ES wave Count


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Power of MTP for ES wave Count

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  #11 (permalink)
KANATA,ON Canada
 
Experience: Beginner
Platform: Ninja
Broker: Mirus,Zen-Fire
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sukhsan's Avatar
 
Posts: 106 since Jun 2009
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I agree with u Max, this is not a promosional fourm!!!!



SSS

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  #12 (permalink)
Spokane, WA
 
Experience: Intermediate
Platform: ninjatrader, tradestation, esignal
Trading: Futures, Futures Options
 
cashinvestor's Avatar
 
Posts: 13 since Jul 2009
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I also use mtp. The latest eod 6 is pretty nice.

I do have some questions on using the nt plugins. Do you turn off all the filters? This generates more signals, but many of the signals are wrong, because the isolated a-b-c might be triggering a long, when it's just a retracement in a downtrend.

When it works, it works good. I bought it so I can have the RR and DP levels on ninja. I'm also an esignal adv get user. So I gotta have a mob.

Also K, how did you get all the letters/numbers on your chart in the first post? I've turned everything on and I can't get all those. Did you put those on by hand?

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  #13 (permalink)
Toronto Canada
 
Experience: Intermediate
Platform: ninja Trader, Ensign,Market Delta
Broker: AMP,Global Futures
Trading: Eminis
 
Posts: 97 since Jun 2009
Thanks: 46 given, 83 received


Yes I turn off all filters, because I am not considering auto trades, I have my own way of judgement. These auto setups, just provide information about possible wave count ends.
I count all these waves mannullay and keep on my charts. I start from lower time frame and gradually moves towars higher time frame.
It always works good, but you need to build more experties, and adopt the way , what works for you.
Yes, ABC might be triggering a long/short, when it is in long /short trend, but you have to findout what works .
Most of time such trades works better in the direction of long term trend.

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  #14 (permalink)
Edinburgh, UK
 
Experience: Intermediate
Platform: ninja
Trading: eurusd
 
Posts: 22 since Jan 2010
Thanks: 8 given, 15 received

Just to share another experience with this software. I have had it for some time now and have blown hot and cold on it - probably more related to my own mindset than anything else.

In the last few weeks, as I have become more disciplined in my trading and aware of the psych aspects I have set out to use it in a more consistent way - both daytrading futures and eod trading stocks.

I find it provides a relatively clear framework to make decisions, which works for me.

In 14 intraday trades since mid December [with break over Christmas and Nw Year] (admittedly paper trades but executed in what I am happy is as real time a way possible) I have stuck to my rules (mostly) and come out with the following resluts

average R of 0.485
sd R = 1.859
sqn (van tharp - for what is it worth) - 2.63 - which is good.

total R of 6.8

6 losses, 4 wins, 3 break even (excluding break evens this is fairly consistent with the approx 40/60 spit of winners/loosers the developers suggest thsi system experiences)

this is a small sample. it was traded with ninja simulator and does not include commissions and slippage. I factored in spread after the fact in some of the R calculations but not all - so the real results would obviously be less.

I like the way it addresses position sizing and exit strategies as well as entry. It is growing on me more and more.

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  #15 (permalink)
lexington ky
 
Experience: Intermediate
Platform: ninjatrader
Trading: es 6e
 
Posts: 3 since Jan 2011
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Kjaved - I am thinking about tryinging the MTPredictor to augment my trading to get some runners in CL. How is your trading going with it. Anyone else using MTPredictor??

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  #16 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
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Big Mike View Post
I looked at it as well, and it's a fine piece of work but the true beauty of it is the risk/reward money management system and how it lays everything out, that is fantastic work. The counting waves.... not so much... lol

Mike

18 months later, I stumbled across this again.

MTPredictor | MTPRT add-ons for NinjaTrader 7

I still have to admit I like the R/R part of MTP. It's been a long time since I demoed the software, but I remember the R/R part even 2+ years ago as being something I really liked.

I understand it seems to set targets based on waves and pre-determined ratios.



$2,000 for a risk/reward system is too much for me to even consider. I guess if you are a wave guy then maybe the $2,000 is more appealing to you, as it is my understanding very few tools accurately account for waves (I believe there is a reason for that....)

I wish more people would focus on building these R/R tools and less on trying to predict where price will go next with some new indicator.

Mike

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  #17 (permalink)
Dallas,TX
 
Experience: Intermediate
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can MTP run on tick or range like 4 range or 6 range, or just min charts

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  #18 (permalink)
London, UK
 
Experience: None
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Big Mike View Post
I wish more people would focus on building these R/R tools and less on trying to predict where price will go next with some new indicator.

Mike,

Have you ever looked at postionsizer.com
Home | PositionSizer

sleepy

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  #19 (permalink)
Site Administrator
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sleepy View Post
Mike,

Have you ever looked at postionsizer.com
Home | PositionSizer

sleepy

Yes, see here:



The vendor is on futures.io (formerly BMT) as well.

Mike

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  #20 (permalink)
Edinburgh, UK
 
Experience: Intermediate
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emini_Holy_Grail View Post
can MTP run on tick or range like 4 range or 6 range, or just min charts

it runs on whatever bars ninja spits out - so yes

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