Does your current trading system control your risk and maximize your profit without using lagging indicators or desperate optimization?
During today’s MTPredictor trading webinar I showed how the trade setups that the software generates automatically can help the new trader correct the problem of taking small wins and large losses and instead, take small, controlled risks in exchange for larger rewards. You will not win all your trades, so stop trying! We are not afraid to show losses because they are kept small relative to the size of the rewards.
See how this works in today’s MTPredictor trading webinar.
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
After the big MTPredictor wave 3 down, stocks rallied on high volume into the wave 4 target. We projected our wave 5 targets to the downside but knew we would have a wave b Fibonacci cluster coming in around the ES 1900 level. After falling into the bottom of the wave b target, stocks rallied hard into the end of the week with an indication that professionals were stepping in and doing the buying.
We are now sandwiched between the wave 4 resistance and the wave b support. Watch this week and see if we get more follow through to the upside. This may be fueled by the fact that a horrible jobs report will postpone any Fed rate hike in 2015. Even whispers could be heard about another round of QE. If more QE is in the cards, new all-time highs and beyond won’t be far away.
Check out the rest of the analysis in tonight’s MTPredictor Weekly Market update.
During today’s MTPredictor trading webinar, I went through the 4-step trading process before explaining how to trade MTPredictor’s software generated trade setups. Later, we looked at some more advanced trade setups using some of the additional MTPredictor tools including the gap indicator.
Check it out in this MTPredictor trading webinar.
Right now, the Dow and S&P are falling from their MTPredictor wave daily wave 4 resistance areas into a potential wave 5 down. It is make or break time for stocks. If you want to see how the advanced Elliott wave tools work in MTPredictor, check out developer Steve Griffiths 2 part series on MTPredictor’s advanced Elliott wave tools and see how you can quickly and easily project potential market targets in advance as well as find support and resistance for any market and time frame.
This video is a recording of a live partner presentation with John Matteson of MTPredictor.