MTPredictor

[lotsofloot]

Hi Folks

Am current looking at a software package called MTPredictor which claims to isolate the ABC correction wave pattern in relation to eilliot waves. They offer a free 140 page tutorial (part1) which I am reading at the moment. If anybody has ever used this software (past or present) I would be grateful to hear from them.

Generally to check out a particular piece of software I just download it from the vendor test it over a 30 day period and if it meets requirements buy it. However this particular vendor althought offering a 30 day trial deducts around $280 for administration fees if you decide against keeping their software. Whilst this is perfectly legimate I just want to make sure its wothwhile downloading in the first place. Hence my desire to hear from those who have used it.

Thanks for all your help in this matter.

Regards LotOfLoot

 

[Euro_d]

Hi,
there are several posts regarding this piece of software. I must admit I quite like their approach and apparent honesty. The trading manual is full of good sense and money management tools.

I agree that the software is expensive and what I would like to see is a "warts and all" analysis on their website.
Something along the lines of all trades signalled, all trades triggered and the results of those trades.

Clearly this would need to be (for their own sake) delayed by a few days. Obviously, this analysis must be verifiable.

Over to you MT, if you provide such analysis, I am sure that you would generate positive interest. I might even but the software.

One thing that concerns me is that their RT data feed is not universal, I would like to see something that supports DDE linking so that I dont have to change my data provider with whom I am completely satisfied.

Lets see what unfolds.

Dave

 

[chump]

I saw some stats ,but unfortunately I cannot remember where..in effect the win rate is no better than random taking into account acceptable variance from 50/50. Where they win though is that they put you into trades with RR resulting in positive expectancy..cannot remember exactly what that ratio was ,but vaguely remember thinking it was ok.

 

[Euro_d]

Thanks for that Chump, yep you are right, the expectancy is probably not high but if Risk / reward is as they say then it is a sensible approach.
Their philosophy seems to set the entry / exit per the previous bars high / low which for short term trading is a sensible strategy.

I seem to remember that one of our colleagues on T2W was actively promoting MT Predictor but I cannot find where, perhaps I am going senile?

Damn expensive though,

Dave

 

[Pat494]

With all these "snake oil" vendors it's much more relevent - what they don't say in their glossy adverts than what they do say.
If they won't give proper figures - words like barge-pole spring to mind.

 

[Pat494]

Thanks for that Chump, yep you are right, the expectancy is probably not high but if Risk / reward is as they say then it is a sensible approach.
Their philosophy seems to set the entry / exit per the previous bars high / low which for short term trading is a sensible strategy.

I seem to remember that one of our colleagues on T2W was actively promoting MT Predictor but I cannot find where, perhaps I am going senile?

Damn expensive though,

Dave

Here is the thread http://www.trade2win.com/boards/showthread.php?p=218698#post218698

 

[lotsofloot]

Thanks to all those who replied to this thread. Have just finished part1 of their free tutorial which in fairness to MT is one of the best I have ever read. It is well worth reading just for article on risk/reward/money management.

My question to MT is this. Why charge $250 for testing your software. Over the years I have purchased software just as expensive but all came with a full money guarantee. All provided services such as email, videos, tutorials and phone. However nobody charged for them. If the intention of the charge is to deter those people who download your software and never bother learning to use it then in my case you have failed.

You have an impressive bit of software that used as directed would appear to have the ability to give consistent profilts. Dont go an spoil your customer relations by placing a charge to test it.

 

[Euro_d]

My point exactly Sir,
I am not prepared to lose $250 in the event I dont like it!
Also, to be fair the review on K-Lab is by one person only, sorry that does not convince me.
Yep, like the idea nd yes the site seems convincing but without any clear reviews or, as Chump says, being able to play without risk, I will also pick em manually.

Again, over to you MTP

Dave

 

[Euro_d]

Reading this thread and the website of Dynamic Trader it seems they are almost clones.

Any comments on the pros/cons?

Dave

 

[chump]

Euro,
I spotted something similar between these packages a couple of years ago and in fairness to MTP they came back with an explanation. Namely the chappie behind MTP was originally involved with Dynamic Trader before subsequently moving on and developing MTP. I cannot say how close the similarity is between the two pieces of software a I have not seen both in sufficient detail however perhaps you now know why some similarity exists.
For what it is worth I have come across one trader (not on here) who was more than happy that he had had his money's worth from the MTP software and was continuuing in it's use albeit it was only one approach to his trading amongst several.

 

[Euro_d]

Thanks Chump, yep I read the treads. Interesting eh?

So, now to similar products, Advanced GET?

Anyone got any comparisons, I understand there is a huge following for GET..

Dave

 

[tryhard]

MT Predictor

I bought the MTPredictor (realtime version). I returned it within 30 days and was refunded
£144.
I consider the money was very well spent. Their risk/reward ratios and MM are great.
There are daily emailed commetaries, and worked examples.,the workbooks number close on 400 pages plus part 1 is free. The software worked faultlessly and I beleive providing you followed the software it would be profitable.

My reasons for not staying with it were " it didnt fit my approach" - and dont ask what that it.

I have no connections with MTP, just found them very friendly and helpful.

 

[montyno2]

update

Hi Folks

Am current looking at a software package called MTPredictor which claims to isolate the ABC correction wave pattern in relation to eilliot waves. They offer a free 140 page tutorial (part1) which I am reading at the moment. If anybody has ever used this software (past or present) I would be grateful to hear from them.

Generally to check out a particular piece of software I just download it from the vendor test it over a 30 day period and if it meets requirements buy it. However this particular vendor althought offering a 30 day trial deducts around $280 for administration fees if you decide against keeping their software. Whilst this is perfectly legimate I just want to make sure its wothwhile downloading in the first place. Hence my desire to hear from those who have used it.

Thanks for all your help in this matter.

Regards LotOfLoot

Hi Lotofloot,

Do you have any up-date on MTPredictor, did you buy it !

regards
Montyno2

 

[lotsofloot]

Hi Monty

I never did buy the software. Would have liked to have tested it but was unwilling to pay the $250 that would be deducted if you returned the software after the 30 day trail period.

If you decide to test it let me know what you think of it.

Regards

LotsOfLoot

 

[montyno2]

Hi Lotsofloot, Thanks for the reply, Did you get me private e-mail i sent regards the test.

Regards
Monty

 

[montyno2]

test

oppps---Me= My

Monty

 

[Tahi]

Have checked out their forum, and although impressive, it seems to be in reality to be an advertising site, with over 90% of posted trades being .. a) posted by the developers,.. b) winning trades... and..c). posted after the trade was completed. Their m/m is impressive, nearly identical to Van Tharps m/m and position sizing model. However when the Risk/Reward ratios are posted I notice that they exclude brokers fees or spread, which, as most posted trades are on the US market indicie E minis with a typical 1-2 point spread between their posted entry and (stop-loss) exits, may skew the R/R results somewhat.

 

[Euro_d]

I have subscribed to their free daily alerts and as you observe, highly slanted toward the US markets. I did not try for the reasons others have indicated, $250 for the pleasure of trying!!!

I have heard some very good reports of eSignal's AdvanceGET though. Again expensive but reviews seem to indicate it may be worth a trry?

Any comments?

 

[Pat494]

Hi Lotsofloot, Thanks for the reply, Did you get me private e-mail i sent regards the test.

Regards
Monty

I hope you will post the results of your tests and/or any opinions ????????????

 

[lotsofloot]

Advanced GET

Hi EURO-D

If you want to check out users reviews of advanced GET go to the Elite Trader website and click on the software option located on the upper taskbar on their home page. This will bring you to their software review screen where GET and about 30 other software packages are reviewed by users.

Hope this of some help.

LotsOfLoot