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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?
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.
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.
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??
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.
For those interested in position sizing quickly on the fly the following product for ninja looks interesting. Allows you to calculate the number of contracts to enter based on fixed fractional position sizing and then enter the position all with a couple …
The vendor is on nexusfi.com (formerly BMT) as well.
