May 13
16
Basic and Advanced Setups
In today’s MTPredictor trading webinar, I covered the basic trade setups that the software provides in real-time. These basic setups allow a trader, perhaps for the first time, find low risk, high reward trade setups. They also help the trader follow the golden rule of trading – cut your losses short and let your winners run.
Later in the webinar, I showed how a trader can then take the next step by doing some additional analysis, using the tools in the software to uncover additional trade setups beyond the basic setups the software provides.
Check it all out in today’s MTPredictor trading webinar featuring the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex.
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MTPredictor runner up 2011 Readers' Choice Award for best futures trading system.
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Read the MTPredictor article "95% of Traders are Insane!" in the August 2012 issue May 13
12
Has Gold Bottomed?
Happy Mother’s Day to all the mothers out there!
Well, the stock indices continue to grind higher here in the US but the YM is quickly approaching the beginnings of a major MTPredictor weekly Decision Point resistance area. This area goes all the way from 15,250 to around the 16,250 area so this large area will be one to watch in conjunction with the next ES weekly MTPredictor Decision Point resistance area that starts around the 1,700 level. The best chance for a correction should come when both are in resistance together.
Gold and silver have rallied off their lows but right into daily MTPredictor wave 4 resistance. The wave 5 target down would take silver to a new recent low. Both gold and silver have begun to roll over in wave 4 and are heading in the direction of their wave 5 targets. If they do get down there, there may be some nice bottoming setups to take advantage of.
Check out the rest of this weeks analysis featuring the MTPredictor v7.5 Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex.
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May 13
9
Trading the Euro Part 2
During today’s MTPredictor trading webinar, using the MTPredictor add-ons for Ninja Trader 7, I went through all the automatic trade setups that the MTPredictor software provided over the last 20 trading days on the 3 minute chart of the EURUSD. This was an exercise to demonstrate how the 4 – Step Trading Process works – taking small controlled risks while taking larger rewards over time.
Watch the recording to see how you can be very profitable even when you lose the majority of your trades!
Since 1950, when interest rates (inflation) have been below 2.5%, the stock market has returned over 13% on average. Currently, interest rates are well below that 2.5% threshold (albeit artificially by Fed manipulation) and the Dow cash hit 15,000 last week – a new all-time high. The Fed outlook is to keep the rates low as long as its threshold for inflation and jobs is not exceeded which could be for the next year or 2 at least. This means we can expect more of the same from the stock market. This does not mean, however, that there will not be pullbacks, corrections or even crashes during this period as economic events unfold like they did in 2008. Markets do not move in straight lines up or down. But, as history has shown, fighting the Fed is a losing strategy.
In light of this, check out this weeks analysis featuring the new MTPredictor v7.5 Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex.
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During today’s MTPredictor trading webinar I demonstrated the MTPredictor add-ons for Ninja Trader 7 including the new MTPredictor Trade Module. I showed how the software provides low risk, high reward trade setups for the new trader. These setups can be located in any market and time frame with the MTPredictor scanner.
I then showed how the new trader can transition from these automatic trade setups to creating their own low risk, high reward trade setups using the Elliott wave and Fibonacci tools in the MTPredictor software. These advanced trade setups unfold in any liquid market and time frame.
The MTPredictor add-ons for Ninja Trader 7 will work with time charts, tick charts, range bars, Renko, point & figure and more!
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