Does your current trading system control your risk and maximize your profit without using lagging indicators or desperate optimization?
Many of the clients that come to us do so as a last resort. They have tried every indicator, system and method out there. They all typically win the majority of their trades but still lose money.
What they finally realize is that taking small wins the majority of the time does not lead to making money over time. They finally figure out that they might have better success by doing exactly the opposite – having large wins and small losses while only winning 40-50% of their trades.
Watch today’s webinar recording to find out how MTPredictor can help reverse your current results.
MTPredictor runner up 2011 Readers' Choice Award for best futures trading system.
-Read the MTPredictor article "95% of Traders are Insane!" in the August 2012 issue
Much of trading comes down to understanding market context. This is much more than just knowing where support and resistance are located. You also have to know when that support and resistance should act as support and resistance and when the market will simply go through those levels (trend).
If you can figure this out, that is half the battle. After an introduction to the basic software generated setups, I took a look at some of the other tools in the software that will help the trader determine the right context for a particular market so they know what type of trades to employ.
Check it out in today’s MTPredictor trading webinar.
The YM made up some ground on Friday after the markets viewed the jobs report favorably. This means that the YM is within striking distance of a new all-time high. The Dow Transports are, however, still lagging so the divergence remains.
The weekly short in the US Dollar reached its typical wave c target but there is still some room down to the typical wave 3 target and the weekly wave 4 support area. It did look like buyers stepped in last week so we’ll see if that gets follow through to the upside first.
Gold is back down near its weekly DP support area. We will watch this area, if the dollar begins to rally, to see if the weekly support is tested again and can continue to hold. If not, there is room to move to the downside here.
The Euro continued to rally last week and is approaching its weekly wave 4 resistance area. This is an area to look for and see if the Euro begins to roll over once again as the QE continues there.
Check out all the analysis in today’s MTPredictor Weekly Market Update.
The Dow and the S&P both closed the month of April on a positive note. Historically, this is a better indicator than the January effect. If April closes on the plus side, then there is a high probability that we will end the year on a positive note.
One issue the market is currently facing though is that the NQ and ES have made new recent highs while the Dow, along with the Dow Transports, have failed to make new highs. This is an unhealthy divergence for stocks if it continues.
The Euro continued to rally against the US dollar. The weekly chart shows this rally up is a potential wave 4 in a current downtrend. Will see, if wave 4 is completed, if the selling in the Euro continues into a wave 5 down.
Check this and all the analysis including a look at the cyclical nature of trading in this weeks MTPredictor Weekly Market Update.
During today’s MTPredictor trading webinar, I showed how the software generated trade setups are a starting point for the new trader to help them locate low risk, high reward trade setups. These setups include the entry, stop, initial target, correct position size and whether or not to take the initial target or trail with a trailing stop.
Then, I showed how the more experienced trader can utilize the tools in the software to locate larger degree support and resistance and then, look for trades in this direction.
Check out how this is done in today’s MTPredictor webinar recording.