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Long time trader reviews MTPredictor


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  #41 (permalink)
Griff1
Bristol, UK
 
Posts: 33 since Mar 2012
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Hi Jeremy,

Incorrect................. As the developer of MTPredictor, I feel it is right that I step in here and correct this last post as it is wrong. The DP (Decision Point) level in MTPredictor is not a "rip off" from the Add GET MOB level, when I developed it, I tested it against the MOB and it was different on many occasions.

While the DP does use Fib ratio's it does not use time. So your statement, again, is incorrect.

Also, if you would like I could go into detail of all the other tools in MTPredictor that do not even exist in Add GET, so please be careful what you say in haste when it is not founded on the truth.

As the developer I do not normally post in these Threads, but it is only fair to put the record straight when posts are incorrect and not based on the truth.

Steve Griffiths
MTPredictor Developer

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  #42 (permalink)
Griff1
Bristol, UK
 
Posts: 33 since Mar 2012
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Also, as a PS to my last Post. I feel that a little history on the development of MTPredictor is needed as well.

Yes, I did use to use Add GET a long time ago (as well as other software) but Add GET could not find the main trade set-up that I used in my own analysis at the time, which was catching the end of the Wave (2) to then trade the Wave (3). So that was the main reason for developing MTPredictor, to find a trade set-up that was not even present in Add Get. Also, I needed a way to easily and quickly calculate the Position Size of the Trade entry, which again, was not available in Add Get.

My second favourite MTPredictor set-up is the VS (Volume spike), which again, is not even present in the Add Get software.

So I am sorry, but to call MTPredictor a "rip off" of Add Get is completely incorrect, and again I feel that as the developer the readers of these posts need to know some history of MTPredictor to see the truth here.

Steve Griffiths
MTPredictor Developer

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  #43 (permalink)
 datahogg 
Knoxville Tennessee USA
 
Experience: Intermediate
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jeremymag View Post
I just read this thread. Is interesting that no one mentions the fact that actually Mt predictor us a rip off of advanced get. That actually was a rip off of a trading system that was around way before the ad get was created. I learnt the inherent trading system on the early 90s and the person who taught me learnt it on the early 80s.
MT predictor main tools are reverse engineering of for instance the make or break study. That actually is just a combination of time and price fibonacci projections

There are a lot of cons in the investment world, an this is one of them.

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  #44 (permalink)
 vchase 
London
 
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jeremymag View Post
I just read this thread. Is interesting that no one mentions the fact that actually Mt predictor us a rip off of advanced get. .....

To call it a 'rip off' of that software is quite unfair. A wheel is not a rip off of a round rock. Is an EMA indicator a rip-off of an SMA indicator? Is every car a rip-off of the Model-T ? Just because you can see some similarities between them doesn't mean one is a rip-off or somehow fake, overpriced version of the other. No one has copyright over fib ratios or automatically finding them on a chart and there are several indicators that can do that; each doing so in their own way with varying degrees of success. I use MTP and one other and like them both for different reasons. I think MTP would agree that it was developed out of their experience using Advanced GET. But I doubt it would have been to arrive at a clone, but rather to improve on it and get it to do something or behave in ways it didn't do before.

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  #45 (permalink)
 jeremymag 
campnaa
 
Experience: Advanced
Platform: NinjaTrader
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Griff1 View Post
Hi Jeremy,

I tested it against the MOB and it was different on many occasions.

While the DP does use Fib ratio's it does not use time. So your statement, again, is incorrect.

Also, if you would like I could go into detail of all the other tools in MTPredictor that do not even exist in Add GET, so please be careful what you say in haste when it is not founded on the truth.

As the developer I do not normally post in these Threads, but it is only fair to put the record straight when posts are incorrect and not based on the truth.

Steve Griffiths
MTPredictor Developer

then as I said it was based on the mob, and if you dont use fibonacci time, you can go only 2 ways on getting the displacement. the angle of the movement or a fixed rule based. Indeed is not exactly the mob, while i saw the DP is more fixed than the MOB, the MOB actually recalculate over and over until the new max is achieved. I know the DP behaves differently. My solution on a half developed indicator has similar but not equal results since I use the original system (regarding MOB and DP)

Of the many tools you mention (I must admit by curiosity saw your recent ninjatrader ecosystem vids) fall into 2 categories, things that already existed such as dp, usual wave levels and oscilator and things that were available for free, for instance the risk reward was around for a while and I remember someone coding an indicator about it. Caveat i have no idea if mtpredictor had it before or not, but lets face it you didnt come up with the risk reward concept

The "usual levels" are flawed by nature, at least gives me a hint that you didnt actually knew the original system as Tom Joseph did (since all im talking is before the arrival of internet is a bit shady and lost). The complete lack of probabilitis treatment is a serious problema in relationship with the original system. But then again ad get didnt have it eaither, just the pti that is a lie since is an indicator and doesnt actually measure probabilities.
On the late 90s i had the opportunity to meet on a convention with TOm Joseph to make a burning question "did you run a probabilities test against possible movements as the theory should go", the answer was no, he only did minor back tests with the computing power available. Me? I secure access to a CRY 1 in college and tested all possible history available on the markets (tough thing to do before the internet that was only on the first or second year) and with the help of a math undergraduated I got an estimation of all relationships possible on all degrees, from them due to the bid data sample could derive pseudo probabilities for most movements. Amazingly enough TJ minor optimizations got some of the results just like them.
Moving forward Im an old fish that got really early on the game, so Elliott I know better than most.

Another disclaimer, I dont own MTP just used one of a friend a while back. I do own Ad get since 95

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  #46 (permalink)
 jeremymag 
campnaa
 
Experience: Advanced
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vchase View Post
To call it a 'rip off' of that software is quite unfair. A wheel is not a rip off of a round rock. Is an EMA indicator a rip-off of an SMA indicator? Is every car a rip-off of the Model-T ? Just because you can see some similarities between them doesn't mean one is a rip-off or somehow fake, overpriced version of the other. No one has copyright over fib ratios or automatically finding them on a chart and there are several indicators that can do that; each doing so in their own way with varying degrees of success. I use MTP and one other and like them both for different reasons. I think MTP would agree that it was developed out of their experience using Advanced GET. But I doubt it would have been to arrive at a clone, but rather to improve on it and get it to do something or behave in ways it didn't do before.

and yes, in the stock forum one normally uses rip off to quote relationshiop with something that existed before, and IS quite unfair, a good thing about your company is the teaching program, far better than elliott wave international, or esignal to mention the biggest players on the pond

And also I must admit that since ad get got stuck at 98 or 99 even 97. The mtpredictor I once new had advanced a lot and changed a lot.

Dont worry I seriously doubt than any plug in design by me will ever see the light of day since Im no programmer

regards

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  #47 (permalink)
 
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 forgiven 
Fletcher NC
Market Wizard
 
Experience: Intermediate
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datahogg View Post
There are a lot of cons in the investment world, an this is one of them.

i do not use this software but demo it.... i have used motive wave and other advanced elliot wave studies...this is not a rip-off.... mt predicator... does a good job for what it does...much better than advanced get ... now can you trade all the signals blind and turn a profit.... ( HELL NO ) but if you want to have a good eliot wave education and software to boot...you could do far worse than there stuff.... advanced get 4000.00 little education ...stuck with e-signal data feed for ever, expensive up dates for pattern search, no money management... motive wave ... good software , may not use broker free data...no education.. mt predicator...folds real nice into ninja trader... my 2 cents ... and by the way ...i do not use eliot waves any more... this was what i found when i was trying to.

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  #48 (permalink)
 
forgiven's Avatar
 forgiven 
Fletcher NC
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Experience: Intermediate
Platform: nijia trader
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can you scan for trades in the direction of weekly, daily, and 240 min. trends not just 15 min/. looks like they would do better than just the 5 min to 15 min...

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  #49 (permalink)
 
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 kburks 
Boynton Beach
 
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Can one use range bars to trade this software???

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  #50 (permalink)
 
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 forgiven 
Fletcher NC
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datahogg View Post
I purchased the MT Predictor and the Trade Module.

Besides purchasing the item you must pay some sort of tax because the business is in England vs US.

For me this was a complete waste of money. The canned signals were more often wrong than right.
The analysis was completely subjective.

On a positive note, I am doing well using Ron99's methods of selling options on futures.

i live
in knoxville too

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