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, we had some good trade setups to examine in the ES. We had software generated setups and setups that could be found using the additional tools in the software.
Check it out in today’s MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex.
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
During today’s MTPredictor webinar we took a look at the last week of trades in the ES that the software generated automatically. I showed the group how the software generates low risk/high reward trade setups that can get the equity curve moving in the right direction even though you may only win 45% of the time.
See how this is done using the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex.
Wednesday, Jan. 20th we saw the ES complete a wave 3 down into MTPredictor daily Decision Point support. Our MTPredictor volume indicator (VSA) closed red which indicated that professionals may be buying this level. This was confirmed at the close when we finished the day with blue buyers candle. When Wednesday’s high was taken out on Thursday, the rally into wave 4 began.
This sets up a big make or break, wave 4 area heading into Wednesday’s Fed announcement on interest rates. The wave 5 target to the downside is 1,790. If we, however, start to see closes above 1,972, then look for a rally back up to 2,000.
We had 2 nice long setups today in the ES and YM. The MTPredictor software generated these setups automatically. The software provided the entry, stop, initial target and correct position size for each trade.
Watch today’s MTPredictor webinar to see how this works.
Many traders simply focus on winning trades but spend little time focusing on the only thing they can control – their initial risk. See how the MTPredictor software not only manages your initial risk automatically, but also provides entry, initial stop, correct position size, initial target and whether to stick with the initial target or trail with a trailing stop.