MTPredictor

Good to hear from you Fred and GL
I have done a bit of checking on real time data feeds. They dont come cheap.
Realtick $250 per month
Esignal Has to be premier at $91 per month just Dow index, extra for more
Paritech sent email but no answer yet. The website gives a figure of $158 per month or $118. Hard to see exactly what one gets.
Clear as mud really !!!!!!!!!
 
No answer from Paritech as yet.
Over on ET I see a contributor to the Top Gun thread reckons he pays only $51 per month. The salesman at DTN.IQ didn't seem too interested in MTP but tried to push their in-house software called ProfitX, which I dont know at all. I have sent an email to MTP to see if their RT version will work with DTN,IQ data.
Will let you know - talk about going round and round
 
Pat,

Are you sure the Paritech R/T (Metastock) data is compatible with MTP? MTP recommends them for EOD data, and I went with them for that, but on its website there's no mention of Paritech in the recommended R/T data suppliers - I'm not sure it's supported.

I may be wrong but I think the RT software is very different from the EOD version, in that it works as a 'plugin' to the three data vendors' platforms - that's what it looks like from the video demos on the MTP website, so it's not a question of what data works in MTP, but more a case of which R/T platforms can support MTP, and its just a list of three. A quick call to MTP should clear it up (PS I've found with both Paritech and MTP that responses are much better when you call rather than email).
 
Jack
I think you are probably right, Looking through Fridays report at MTP I think the answer is that Steve is working with his programmers to try and make the real time version compatible to other data feeds plus some new entry points which may be due in the New Year.
 
By the way Pat - on a comment in my journal you mentioned that you were thinking of some fractal analysis software rather than MTP. Did you try it - any reason for looking at MTP again now?
 
Jack o'Clubs said:
By the way Pat - on a comment in my journal you mentioned that you were thinking of some fractal analysis software rather than MTP. Did you try it - any reason for looking at MTP again now?
Click to expand...

Thats right. Regrettably it is a rather amateur effort and not worth the money imho. Pity. Sounded good though.
 
Pat494 said:
No answer from Paritech as yet.
Over on ET I see a contributor to the Top Gun thread reckons he pays only $51 per month. The salesman at DTN.IQ didn't seem too interested in MTP but tried to push their in-house software called ProfitX, which I dont know at all. I have sent an email to MTP to see if their RT version will work with DTN,IQ data.
Will let you know - talk about going round and round
Click to expand...

e-mail from Tony Beckwith at MTP
Yes they are thinking of expanding with other data providers, but next Spring - maybe !
 
Anyone know ( I emailed MTP but no answer ?)
1.Is it necessary to have to use eSignal Premier ( the more expensive ) service for MTP real time ?
2.Will the coming upgrades be free to existing users ?
3. Can the trend filter be adjusted ?
THx
 
Pat494 said:
Anyone know ( I emailed MTP but no answer ?)
1.Is it necessary to have to use eSignal Premier ( the more expensive ) service for MTP real time ?
2.Will the coming upgrades be free to existing users ?
3. Can the trend filter be adjusted ?
THx
Click to expand...

THE reply:-
Thanks for this -

1. Yes - MTPredictor is a high performance add-on which needs eSignal's 'Advanced Charting' in Premier.
2. Not sure yet, as we have no ETA for the upgrade. In any case, it will not be extravagant.
3. Yes.

Hope this helps?

Regards

Tony.
________________________________

Tony Beckwith

Director of Sales & Marketing
 
My own experience

I have owned MTPredictor for several years and I have been backtesting it for some time. I like it but due to other commitments in my life and I have not put in enough effort to succeed with it. What attracted me to it in the first place was it's focus on risk/money management and from my limited exposure to other packages it handles this important aspect of trading clearly and with due thought and attention. Every trade that is suggested by the system comes with stops, profit targets and expected wave targets clearly marked on the chart. Thus you can immediately see whether the potential profit fits you as a trader, i.e. expecting a 3 to 1 risk to reward ratio. The trade scanner has the option of excluding any risk to reward ratio that is less than 2 to 1.

This is not a black box system, it requires a measure of application in order to understand it and its approach. Many times the software will think that it has found wave structures that are potential targets but when inspected by a human eye are not applicable. Therefore you need to do secondary filtering on any prospective trades. That introduces a measure of skilled appreciation of what is and is not suitable.

The training manual tackles this upfront, describing it as the ' skills curve '. There are lots of educational / practical video clips on the members pages telling you the what, where and why of the system. This is one of the big plus points for MTPredictor, they do a lot of work in trader education. If you consider the cost of some trading seminars versus the amount of info you get here it almost makes the software free. Also the people behind it are helpful and open to questions on their own <a href="http://www.mtptrader.com/">forum</a>.

I can see the benefit of it and that it could be the right system for you but then half the battle of trading for me is knowing about yourself and finding the right system.
 
Dynamic Trader is more expensive for me. I bought DT Workshop (I recomend it) and I think it's enough. Elliott Wave aplications can be made with other unexpensive softwares like Amibroker.
 
Jack,

Thanks much for your long thread and for the blog on MTP. It was great to review an independent evaluation, including a lengthy period of trading, about this software.

I decided to buy it . . . setting it up now.
 
I am actually selling it. The 6.0 version that is. Regular price is $ 2,495.- for the RT version. I am willing to sell for $ 2,000.- Reason is I have other fun things I am focussing on right now.

Cheers
 
i would not sugest to any one to buy their software.I was trading the us e-minis with MTPredictor real time for 6 month, and used to take all the automatic setups that software gived me.My 20 000$ account now is 3 000$.The expectancy of the sistem is very low.It does produces a lot of false signals witch you have to take before you catch one winner.They claim that the expectancy of they sistem is .34 but in reality it is .19 .
 
audrius said:
i would not sugest to any one to buy their software.I was trading the us e-minis with MTPredictor real time for 6 month, and used to take all the automatic setups that software gived me.My 20 000$ account now is 3 000$.The expectancy of the sistem is very low.It does produces a lot of false signals witch you have to take before you catch one winner.They claim that the expectancy of they sistem is .34 but in reality it is .19 .
Click to expand...

Sorry to hear that.

I cannot speak for the company nor am I employed in any capacity by them. What I would say is they held a free 1 hour online training session today on using the real time software. I believe that the presenter suggested that automatic setups were not to be followed each time but were a signal to allow a trader to evaluate the setup and see if it made sense as per the guidelines in the 2 part trading course. In his opinion wholly mechanical systems were open to error. A person might not choose to trade if they saw trouble whereas a mechanical system would just go right ahead, i.e. the past few weeks would give some people pause for thought.
 
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