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Power of MTP for ES wave Count
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Power of MTP for ES wave Count

  #11 (permalink)
Elite Member
KANATA,ON Canada
 
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sukhsan's Avatar
 
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I agree with u Max, this is not a promosional fourm!!!!



SSS

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  #12 (permalink)
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Spokane, WA
 
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Platform: ninjatrader, tradestation, esignal
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making mtp work

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)
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Toronto Canada
 
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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)
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Edinburgh, UK
 
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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)
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lexington ky
 
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Thinking about MTPredictor to augment my trading

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
 
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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.

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$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)
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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)
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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)
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sleepy View Post
Mike,

Have you ever looked at postionsizer.com
Home | PositionSizer

sleepy

Yes, see here:

https://futures.io/vendors-product-reviews/2361-positionsizer-ninjatrader.html

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

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #20 (permalink)
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Edinburgh, UK
 
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Favorite Futures: eurusd
 
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mtp tick and range



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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