MTPredictor Software Version 6.0

[mindset]

Hi Guys,

Does anybody use this software MTPredictor Software Version 6.0? or can anybody prove that this works? it seems a lot of money and looks quite good but I just wondered if this was popular with traders, which if it does what it says it can do then it should be?

Can anybody shine any light on this package? does it work?

Many Thanks,

James (mindset)

 

[puregold24carat]

It does .However NOT profitable in long term.

 

[ZEPPO]

It does .However NOT profitable in long term.

So you mean it doesn't, then.

Eduardo.

 

[Countvonaltibar]

I guess it reduces risk to trading and points out opportunities for entry/exit? I'm going to sign up for the demo and webinars to check it out.

 

[dash riprock]

I guess it reduces risk to trading and points out opportunities for entry/exit? I'm going to sign up for the demo and webinars to check it out.

I am currently using the system for EOD trading ( UK stocks )..So far so good.

They have great webinars and a great support system ( speaking from my own experience )and also a comprehensive training course that you can download.

As for profitable...if you are looking for a system that will be right say 70-80 percent of the time then MTPredictor is not for you .

I am probably getting about 40-45 winners but with the risk reward system that they teach I am up overall and for the first time in my 7 yr trading journey and I am starting to be consistent

Yes the software is a bit pricey but it is top notch IMHO And it forces me follow the step by step process to find , assess and them manage a trade.

Sign up for one of there free weekly training webinars or call up for a personal demonstration .They put you under no pressure , as I called up numerous times before buying the software.

This is just my personal opinion ,I have no association with MTP other than use there software..

Hope this helps

Dash

 

[rdstagg]

Real time version

Hi Guys,

Does anybody use this software MTPredictor Software Version 6.0? or can anybody prove that this works? it seems a lot of money and looks quite good but I just wondered if this was popular with traders, which if it does what it says it can do then it should be?

Can anybody shine any light on this package? does it work?

Many Thanks,

James (mindset)

Let us state one thing - there is no holy grail.

With that in mind as long as you understand WHAT mt predictor is trying to do it is worth buying. It is basically taking all of the maths and calculations out of trying to use Elliot Wave and fibonacci. one click and you have it all.
Before purchase I can recommend going through and reading some of the forum posts at mtptrader.com - it will give you a flavour of how the methodology works - if you are looking for a purely mechanical automated strategy this is NOT for you however.

PS I have been a user for about a year but I use the real time Ninja Trader version and not v6 which is not yet real time

 

[rdstagg]

puregold24carat

I am intrigued!
Why do you say it's not profitable in the long term?

 

[Silversage]

Can I just get into this and ask a pertinent question? Whic is a good system to have at the moment I have just been in with a system that I pay on a monthly basis and I have done several trades but it does not seem entirely reliable so I am out in the market looking for a reliable system that does not have to be real time but that would be apreciated however since I am trading from a third world country the internet connections are un reliable. I would appreciate if anyone can suggest a trend mechanical system that enables buy and sell signals to be generated both on currencies as well as stocks. I have no idea about futures and options. I appologise in advance if this is not the right place to post.
Thanks
Silversage

 

[ZEPPO]

Can I just get into this and ask a pertinent question? Whic is a good system to have at the moment I have just been in with a system that I pay on a monthly basis and I have done several trades but it does not seem entirely reliable so I am out in the market looking for a reliable system that does not have to be real time but that would be apreciated however since I am trading from a third world country the internet connections are un reliable. I would appreciate if anyone can suggest a trend mechanical system that enables buy and sell signals to be generated both on currencies as well as stocks. I have no idea about futures and options. I appologise in advance if this is not the right place to post.
Thanks
Silversage

Silversage, things are not that easy; you see, if there is a mechanical system which is profitable out there, whoever designed it is not going to be so dumb as to publicize it! Why? Because the moment the system is known by the public at large it will stop working!
Design your own system and trade it, and forget about buying anything like mechanical or black box systems, as they do not work and will cost you more money than you initially thought.
Hope this helps.

Eduardo.

 

[NetTecture]

but it does not seem entirely reliable?

What do you mean? Not a 100% rate? Deal with it - you will NOT find a trader to be 100% reliable. Point.

Loosing money in general? Check back test results - if they are true, decide how you trust them. If they are false, sue the heck out of the criminal selling a KNOW broken system (i.e. fake backtest).

But "reliable" in term of "every trade wins" is NOT something you will EVER find. Deal with it. Trading is a game of chances (contrary to a game of luck) if you have a working system. BUT: you have to deal and manage the chances.

 

[ZEPPO]

but it does not seem entirely reliable?

What do you mean? Not a 100% rate? Deal with it - you will NOT find a trader to be 100% reliable. Point.

Loosing money in general? Check back test results - if they are true, decide how you trust them. If they are false, sue the heck out of the criminal selling a KNOW broken system (i.e. fake backtest).

But "reliable" in term of "every trade wins" is NOT something you will EVER find. Deal with it. Trading is a game of chances (contrary to a game of luck) if you have a working system. BUT: you have to deal and manage the chances.

Anybody who claims 100% wins is a fraudster, no-one can achieve such a rate.
A system needs something more than good money management; if you design a system from scratch, you know everything there is to know about it.
You know, for example, when that system is likely to fail; you also know that it is suited to your particular tolerance, both financial (the money management bit) and psychological, a subject pretty much ignored, but very important which cannot be back-tested.
Even systems which show profitability when backtested cannot guarantee that things will not change (which is where it is important to know when they are likely to break down), all the more so if such systems are made public - the market will take the advantage away.
Also, I think that you would find yourself hard pressed to sue the system designer; after all, he/she did not provide recommendations, and this is probably reflected in their contract terms at the time of the transaction.
Things are not that easy in real life, I'm afraid.

Eduardo.

 

[Silversage]

Silversage, things are not that easy; you see, if there is a mechanical system which is profitable out there, whoever designed it is not going to be so dumb as to publicize it! Why? Because the moment the system is known by the public at large it will stop working!
Design your own system and trade it, and forget about buying anything like mechanical or black box systems, as they do not work and will cost you more money than you initially thought.
Hope this helps.

Eduardo.

Well there seems to be sense to your logic, in the last year I did some research read the right books on trend following however I do not have the skills to design a system. I just went with the first system that I found. I guess one needs the skills to identify the right stocks and have the courage to accept that ones own system works. At present i am simply using unusual volumes and EMA lines and some other indicators but it is difficult to follow so if you or someone else can point the right direction in terms of if there are methods that are advocated or can provide me with the knowledge to create my own system it will be appreciated .
Silversage

 

[ZEPPO]

Well there seems to be sense to your logic, in the last year I did some research read the right books on trend following however I do not have the skills to design a system. I just went with the first system that I found. I guess one needs the skills to identify the right stocks and have the courage to accept that ones own system works. At present i am simply using unusual volumes and EMA lines and some other indicators but it is difficult to follow so if you or someone else can point the right direction in terms of if there are methods that are advocated or can provide me with the knowledge to create my own system it will be appreciated .
Silversage

It is very difficult to create a system, it takes hard work and a great deal of frustration; there is a reason the institutions employ Phds and other wizz kids, and even them get it wrong sometimes!
The best I can tell you is keep doing what you are doing, keep reading and experimenting, and above all have faith in yourself; try to work with what you've got and develop your strategies from there.
Good luck.

Eduardo.

 

[Silversage]

Thanks Eduardo,
Must be doing something right with the technicals so far or we are in a bear market rally or a bull run which ever the case the trend is up for the stocks I ampicking but doing it carefully based purely on technicals. Trying to make sense and see which direction they go statistically not bad.
Silversage

 

[puregold24carat]

puregold24carat

--------------------------------------------------------------------------------

I am intrigued!
Why do you say it's not profitable in the long term?
__________________
If you do what you've always done, you'll get what you've always gotten -

 

[puregold24carat]

For RDStagg:

Simple reason ....not many systems/methods are. ( except death and taxes ? )

With this particular software it looks good when you cheery pick trades .However ask them whats the stike ratio ? If you have this perhaps on trial or demo ,then trade ALL trades it flags. At the end you will need more money to trade as you will have lost.

 

[rdstagg]

For RDStagg:

Simple reason ....not many systems/methods are. ( except death and taxes ? )

With this particular software it looks good when you cheery pick trades .However ask them whats the stike ratio ? If you have this perhaps on trial or demo ,then trade ALL trades it flags. At the end you will need more money to trade as you will have lost.

Have to agree to disagree on this one puregold24carat.
I have been using the software for over a year and feel very comfortable ( and profitable) with it. However it should not be viewed as an automated system - thought is required. Steve - the developer - goes to great lengths to explain how to use the methodology as a tool and not blindly follow every signal without thought.
Any one prepared to take the time to learn it should develop a good sense of market structure and trade management (IMHO).

 

[Christiaan]

hell that is s lot of money.I quess that buying software like this is risky but you do get a 30 money back guarantee.

what do you think?

 

[Countvonaltibar]

I guess it's a good tool to examine RR for each trade and assist with the money management aspect but ultimately it's down to the user to pull the trigger on the trade. I would probably wait for a trade where I'm in agreement with the trade signal and then execute the trade. Nothing's going to be the holy grail in trading as there's too many variables at play out there.