Backtesting has proven several times that the process works, but I need to continue my regimen of self improvement to improve my results.
MTPREDICTOR ALTERNATIVES SOFTWARE
My problem in becoming profitable stems mostly from my inability to stay in a trade long enough to realize the kinds of moves dictated by the software which are a minimum 2:1 reward/risk ratio trade. You need many hours of observation to get to where you can determine a trade that is worth taking from one to be avoided. I really feel it is a great package although is not a red/green indicator, but rather very gray. I feel a need to post my feelings on the MTPredictor software package. And I cannot think of a good reason why they will not release trading records. Would love to write nice things about Steve and Mark, but I need some sort of proof that this stuff actually works. I would love to draft a new review of MT Predictor software. Unfortunitely, the vast majority fail, because the concepts that are taught are built upon a ruinous and unproven foundation. They expect consumers to simply trust, and hope that it works. Yet, are unwilling to trade the product themselves. In my opinion, one of the most frustrating aspects of reviewing trading software and live trading rooms is that these companies expect consumers to pay thousand of dollars in up front fee’s, and hundreds of hours learning a trading concept. Unfortunately, neither the developers of the software (Steve Griffiths), nor the salesperson (John Matteson) were able to produce a brokerage statement that verifies if they have been able to product a profit. And with all of the mentioned vendors, none can provide even a morsel of evidence that profits are being made.Ĭonsider this…MT Predictor has been selling trading software for the past 16 years, and with such a large time window, it is unreasonable to ask that the developer proffer some sort of proof of concept? Is is unreasonable to ask the trading room moderator to produce a redacted account statement? A software vendor can easily obtain a positive review by showing that either the software developers or an actual purchaser of the product has been able to consistently earn a positive income. Is it really so difficult to get a positive review? Actually, it is quite easy. None of these companies has gotten a positive review. None of these companies have been able to provide a statistically significant trading edge. Some of these companies include Back To The Future Trading, Profitunity, FX Groundwords, Indicator Warehouse, Nexgen Software, etc. In the past two years, TradingSchools.Org has written about a multitude of companies that offer trading software based upon the esoteric concepts of Elliot Waves and Fibonacci. Do Elliot Waves and Fibonacci Patterns actually work? The trading room is more of an hour long infomercial on how well the indicators worked on several, well selected charts. There is no track record of any trades called inside of the trading room. Nor a trading DOM present on the screen, or a visual of a live trading account. However, you will not find any live trading. The live trading room operates Mon, Weds, and Friday from 10:30 AM EST to 11:30 AM EST. MT Predictor does offer an accompanying, live trading room that is moderated by John Matteson. However, the main disadvantage of Ninja Trader is that a person is now restricted to only Ninja Trader Brokerage. Once again, separate data fee’s can apply. MTPredictor indicators can also be imported into Ninja Trader at a one time cost of $2,495 per station. Data fee’s range as low at only a few dollars for end of day data, to upwards of several hundreds of dollars for real time data. The company currently recommends either IQFeed, BarChart, eSignal, or Metastock. In addition to the one time fee of $3,495 for the software, you must also find a market data solution, which costs and additional layer of costs.
MTPREDICTOR ALTERNATIVES TRIAL
However, there is a 15 day trial period in which to evaluate the product. The cost of the stand alone version of MTPredictor is $2,495. The predictive quality, or “trading edge” can then be displayed using either the stand alone version (MTPredictor) or the indicators can be imported into Ninja Trader. The foundation of the product is based upon the underlying assumption that Elliot Waves and Fibonacci patterns display a predictive quality. What is MT Predictor? MT Predictor is quite simply an indicator suite and trade set-up scanner. Thanks for reading today’s review of MT Predictor Underlying concept of software is highly ambiguous, esoteric, and open to many degrees of individual interpretation. Developer and sales person pushing the software cannot verify positive trading history. Cons: No track record of positive performance.