Steve: I will admit that I am just relearning MTP so I am in simulation mode. BUT, I have read your entire manual, listened to many of the webinars, read all your Advanced Blogs and applied what you have been teaching. I got the TS3 short and then reversed on the DP which even had a VSA for added confirmation!!!! I used the ATR stop since the oscillator went through the band so I got stopped out, but what I find incredible is that price eventually went to the DP profit target zone and reversed again!!!! I feel that even I could have written your blog today because of how well you teach. Thanks for your great instruction and for answering all of my questions. Again a Million Thanks for your great education!!!!!!!!!!
Greg, Private Trader
Elliott wave is a unique form of market analysis, developed by R. N. Elliott in the 1930s. Since then, numerous Elliott wave software programs have used his wave analysis techniques. Despite promising a lot, many Elliott wave forecasts and approaches have failed to deliver - why ?
MTPredictor uses Elliott wave analysis in a truly unique manner - it identifies Elliott wave patterns in isolation...and only if a valid Elliott count is present.
It is software that enables you - the trader - to identify trade set-ups without needing a complete historical analysis of a market or the added confusion of multiple timeframes. This solves one of the main Elliott problems - labels sometimes appearing to work, sometimes not. The traditional way of dealing with this is by using alternate wave counts...we believe this leads to more questions than answers - so we never use 'alternatives'.
Elliott wave analysis in the MTPredictor software is applied in isolation - and only when a valid (and clear) wave count is present on the chart!
Firstly, it means that the Elliott counts placed on the chart are applied automatically by the software. Most traders find it difficult to place valid Elliott wave analysis and wave counts on a chart consistently - even then, it takes time. This is where MTPredictor will help you - it will place a valid (and only a valid) wave count on the chart for you automatically with a mouse-click. This makes Elliott wave extremely easy to apply.
Secondly, MTPredictor has isolated one specific Elliott wave pattern - the simple ABC correction - and made it the centre of the automatic trade selection module in the software. It is the basis for 4 of our 5 automatic trade set-ups.
This means the software helps you to 1) identify this ABC wave pattern 2) analyze the risk/reward and project profit targets and 3) calculate your Position Size - all from a simple, quick mouse-click.
If you have trouble with Elliott wave...you're frustrated at ever-changing wave counts, confusing and misleading alternate counts, unreliable forecasts or even find it difficult to place wave counts on a chart...take a look at MTPredictor.
Developer Steve Griffiths has used over 25 years' practical experience to filter out Elliott wave confusion and develop software which places counts automatically on your charts - which do not change when you are open-trade and are not optimized (see definitions). Steve Griffiths' Isolation Approach™ is unique and makes using Elliott Wave with clear Risk Control a reality.