[Mitch]

Hi All,
Have spent quite some time 'looking' over some software know as MTpredictor; was wondering if anyone 'here' has used this & willing to give a review of it?
Thanks in advance
Mitch

[smwinc]

No.

I have never met a profitable trader who uses ANY kind of paid service.

2,500 dollars. Gotta be kidding me.

I love this part - "30-day money back guarantee [minus US $250 support fee]". Love it.

Let's read some of the fine print. All trading services have the normal disclosure statements e.g. past performance not indicative of future results, etc.

A few good quotes from their fine frint:

"All trades shown on this web site are hypothetical, they were not executed. There are just shown for illustration and training purposes only."

..... Ok then?

"Unlike an actual performance track record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under or over compensated for the impact of certain market factors, such as the lack of liquidity. Simulated training programs in general are also subject to the fact that they are designed with the benefit of hindsight."

"No representation is being made that any account will or is likely to achieve profitable trades similar to those shown."

Hrm.

---

Sorry I had to add one more. If it was me designing botch software, I would at least make sure I kept my fake "customer feedback" sounding accurate.

Look at this one: ".... I bought 1 emini at 829.25 with a stop of 826, and exited at 840! Thats $537,50 in my very first trade using the RT scanner! So thank you, In my very first trade using the RT scanner, I paid it off!"

840-829.25 = 10.75 * $50 point = $537.50. So we confirm they are definitely talking about the S&P Emini.

.. They bought at 829.25?

The S&P E-mini has only ever spent 3 days trading below 829, back in OCTOBER 2002. Which became the DEAD low for the beginning of the Bull Market starting in October 2002.

I'm assuming he got short at 1 November 2007 right?

What a joke.

[Sparrow]

Any time a trading product or course claims to be able to let you predict market moves, take your money an run.

[OAC]

If you are familiar with some of my older posts, you would know I am a constant basher of vendors, that is because (1) I suspect some of the unscrupulous vendors are trying to get free publicity on this forum, (2) I find their advertising misleading and (3) some of them are just simply leading the uninformed sheeps to the slaughterhouse.
On the other hand, I am somewhat familiar with the MTPredictor program. I think his approach is sound and his stress on money management is good. $2500 is not cheap, but may be right for the right person. His software simplifies the steps and allow a novice to trade a sophisticated strategy.
I don't need it because I have Dynamic Trader, Fibonacci Trader, and Ensign.

[bertg]

back when I was looki g for the holy grail, I looked at this closely. I actually liked it. but if you want to learn, there's plenty of free stuff to learn Elliott Wave.

also, I would never get anything that doesn't give a free trial.

regards,
Bert

[Mitch]

What 'impressed' me was their approach .........'they' openly state that success rate is going to be below 50% but that the key is money mangement........seemed quite refreshing to 'hear' a vendour not claiming 70% + success rate. Also, 'they' are only looking for the simple ABC correction rather that getting involved in the complex elliot wave counts etc
Thanks for you replys all.
Mitch

[OAC]

I just want to comment that Elliot Wave is rarely mentioned on this forum. (Our most popular topics are Market profile and VSA.) My opinion is that it definitely is not hokus pokus. The institutions have been using it for years, especially in the currency market.

[sr100m]

I bought mtp a few months ago. What i did not realise at the time was that i was not just paying for a good piece of software and a good trading method (not perfect but then none is) but also for the comprehensive trading education - money management, psychological aspects of trading etc etc - that i badly needed - from interested and enthusiastic sellers who either genuinely trade themselves or else are very, very good actors. I have learned more from this group (including the more experienced members on their boards) than i learned from all the other trading stuff i have paid for put together. I am not there yet but i am getting there in large part thanks to biting the bullet and buying this.

As always in these kind of postings, I could be working for the company. But you can get a fair amount of their background stuff free - part of their trading manual, the message board, online seminars which demonstrate the features of the software and give you a feel for the bona fides of the people running it. If you google it you can also find partner sites that sell it at a discount. Even still, parting with the money was not easy. For me, though, it was more than worth it.