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MTPredictor Software reviews
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MTPredictor Software reviews

  #61 (permalink)
Elite Member
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MTP


Big Mike View Post
I want to make sure we are on the same page. I have no feelings either way about the product. I was not questioning you based on it not being good -- I was questioning you so that you could ask what is important to you, and then you could get feedback on those things.

If you don't have a good answer, then I think what you are wanting is just something that tells you where to buy and sell. No such thing exists of any kind in any measure anywhere. Notice, I didn't say no such thing is being SOLD, as vendors are selling that all over the place. But as @Deucalion mentioned, you cannot buy MTP and then expect to simply trade the signals it spits out. Like everything in life, and especially in trading, it's not that black or white.

So the question is, what are you wanting to accomplish? Why do you want to buy it?

Mike

What I want is what everybody else want, some edge of some sort, any trading method will end up working to some degree and this is the 50% of the equation to be profitable in trading. The other 50% is money management. I was hoping that MTP will help in the latter. Probably similar to what MR11 mentioned. Maybe using MTP signal for confirmation since it's being advertised as a leading indicator. using my trading method as the main approach but most importantly MTP might help with the money management part.
Again thank you for your concern.

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The following user says Thank You to ness1g for this post:
 
  #62 (permalink)
Elite Member
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MTP


Big Mike View Post
I want to make sure we are on the same page. I have no feelings either way about the product. I was not questioning you based on it not being good -- I was questioning you so that you could ask what is important to you, and then you could get feedback on those things.

If you don't have a good answer, then I think what you are wanting is just something that tells you where to buy and sell. No such thing exists of any kind in any measure anywhere. Notice, I didn't say no such thing is being SOLD, as vendors are selling that all over the place. But as @Deucalion mentioned, you cannot buy MTP and then expect to simply trade the signals it spits out. Like everything in life, and especially in trading, it's not that black or white.

So the question is, what are you wanting to accomplish? Why do you want to buy it?

Mike

IM sure you are familiar with what MTP does. For that kind of money around $2k is there anything else that you recommend which offers similar outcome and by that I mean position sizing, risk reward and some sort of S/R confirmation levels?
IM not looking for buy and sell signals but I was hoping to invest or look into in something that would contribute to improve part of money management.
Thanks,
Robert

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  #63 (permalink)
Site Administrator
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ness1g View Post
IM sure you are familiar with what MTP does. For that kind of money around $2k is there anything else that you recommend which offers similar outcome and by that I mean position sizing, risk reward and some sort of S/R confirmation levels?
IM not looking for buy and sell signals but I was hoping to invest or look into in something that would contribute to improve part of money management.
Thanks,
Robert

There is a serious lacking of tools in this area. I would say MTP is at the forefront, but there are some tools in Elite section of futures.io (formerly BMT) that perform similar risk analysis, and you can extend them further since the code is posted.

I cannot offer any experience on this much either way, because I do not use MTP nor NT7. I suggest some sort of trial option if it is available, or if you specifically want the risk tools then you could extend what is already posted on futures.io (formerly BMT) and/or hire someone to do it in the paid programming services section and get a customized solution.

Mike

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  #64 (permalink)
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I've found the vendors website rather unclear, what is this some sort of Elliott wave modelling with something like fractals measuring reversals?

Can someone give me a couple of sentences summarising it please.

Thanks,

Sands.

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  #65 (permalink)
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sdonahue View Post
I own both the standalone platform and the NT Add-ons, and quite frankly, MTP is really the primary tool that I use these days for all of my trading- and yes, if you put in the time and effort to really master it and leverage it for what it is, which is a professional charting and analysis platform for identifying risk-controlled, quality favorable risk/reward trade setups, then yes- it delivers above and beyond.

On top of that, they have phenomenal support and a ton of excellent free education, including a new trade room where the developer (and expert trader) Steve Griffiths provides real time analysis and education- particularly on how to do the advanced analysis that the software is designed for. Before committing to buy, I'd already spent more money than I will freely admit on indicators, systems, platforms and other garbage- so I am well aware of what's out there. If nothing else, the value they deliver for the money is second to none.

I had a good amount of experience and a strong education and background coming in, so for me, the learning curve was probably shorter than for some. I bought it specifically for the more advanced analysis, so I was never really evaluating whether I could trade a purely mechanical approach with the automatic signals.

As for the "automatic set ups", they're not "black box" at all- they're just automatic methods of more easily identifying certain patterns of price action representing high quality trade opportunities with a favorable risk/reward- all of which can be indentified manually using the software tools or even the naked eye. Furthermore, the basic "standard trade guidelines" are just that- they're very basic "training wheels" to help get more inexperienced traders used to approaching trading in the right way, which is with a sound approach to risk/reward, position sizing, and trade management.

The bottom line is that like anything in trading, it needs to fit your personality and psychological makeup. With my background and core beliefs about trading, risk, and money management, it was a natural fit and I haven't looked back. Even then, it's really helped me fully "break through" some remaining psychological issues that I was still struggling with in my own trading despite all of the education and other training. So, all in all, it was worth every penny for me.

The absolute best thing one can do to evaluate the approach is to read the trading course written by the developer, the first part of which is free. It will give the philosophy behind the methodology and help to understand the approach to see if what he's suggesting "resonates" with you. Personally, I read that a couple of times, and followed the blog for a couple of months before buying- not to mention looking at everything I could on their site and forum.

To really excel using the this approach requires experience, effort, patience, and skill- but it's well worth it. It's very much a "leading" form of analysis, rather than the typical "lagging" indicators, so in turn it has the tools to nail some amazing trades. The challenge is learning to "trust" the techniques, as they often involve entering trades that very often end up nailing exact turning points in markets- something "conventional" trading wisdom vehemently warns against.

The people who are probably not the best candidates for MTP are the ones looking for a mechanical system or set of indicators that doesn't require much thought, skill, or discretion on the part of the trader.

Hope this helps-

Ive spent so much money on indicators to! R you still using MT predictor ? Your right trading is about money management and trusting your set ups or indicators. You can only hide so many Tools or toys from the wife lol.

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  #66 (permalink)
Shakes
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Beachmaster View Post

Ive spent so much money on indicators to! R you still using MT predictor ? Your right trading is about money management and trusting your set ups or indicators. You can only hide so many Tools or toys from the wife lol.

I suggest you stick to the basics and check out Pats price action trading manual. As for MT Predictor, I did a demo as well. The software has some good features. But will require a fair amount of work to get use to it.. I decided not to purchase it, As wasn't consistent or required much more of a learning curve than I wanted.
Regards,
Brian St.

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  #67 (permalink)
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Ganymed View Post
I use MTP add on for NT for over 4 years with continous success. For me the best trading software together with Flux Capacitor from Back to the Future Trading. Both companies are very serious, good support and a lot of instruction videos. I know professional traders using MTP and BTTF daily for FDAX, CL, ES and GC
Ganymed

Are you still using MTP? What is your feedback now?

Thanks

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  #68 (permalink)
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new tradingschools review of MTPredictor:

MT Predictor - Trading Schools.Org

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  #69 (permalink)
 Vendor: www.mtpredictor.com 
Bristol, UK
 
Futures Experience: Advanced
Platform: MTPredictor
Favorite Futures: US e-minis
 
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Posts: 29 since Mar 2012
Thanks: 0 given, 33 received

Hi Everybody,

I do not normally post here as I am the developer of this software, but I feel I have to put the record straight on this review.

The person who runs this review site has not downloaded a copy of our MTPredictor software, nor has he contacted me to ask any questions to understand what we do. It is obvious from his comments that he has not used MTPredictor, nor has any idea about what we do or the underlying concepts of our software. This review site has been mentioned before on this Forum about not being representative or being able to give an unbiased or correct review.

As with everything in life, it is always best that each individual person looks at any system they are interested in themselves and then make their own decision, on whether that system or approach will work well for them and fits in with their own trading style.

Thanks

Steve Griffiths
MTPredictor Developer.

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  #70 (permalink)
Elite Member
Canada
 
Futures Experience: Beginner
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Hi Steve,

Thanks for posting. Emmett's goal is always to find out if the juice is worth the squeeze. Does the vendor actually trade, for real using their software/strategy.

It's OK not to do so and be honest about it. Where it get's dodgy is when paper trade stats are passed off as a measure of success. A lot of his readers just want to know if the price being charged is backed up by legit trading success.

And as I'm sure you know about this industry, most of us would have a better chance catching a greased pig with no hands, than getting a real edge out of some indicator.

I think you have a point. And some features like money mamagement are neglected topics. It's also pretty expensive so maybe without any verifiable results it doesn't matter. We'll all pay our noob tax to some vendors and hope to save the next fish a few bucks avoiding the worst/most expensive crap.

Regards.

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