Trading Futures with MTP EOD

[radar]

Hi,

I'm new to this forum and to MTP and was wondering how effective MTPredictor EOD would be trading futures. Would the $ risk be too large to be an effective method?

:confused: :confused: :confused:

[Steve Griffiths]

Yes,

You certainly can trade Futures with MTPredictor. We have has some great daily Futures trades recently on Gold and Silver.......... I will post some charts later today for you.

Steve

[Steve Griffiths]

Hi radar,

As promised, here is an EOD daily exampled on Futures, Gold to be specific...

A nice Major TS3 sell that has you short off the recent high.........

Steve

[Steve Griffiths]

And as a PS,

Here is the long trade that took up up into the high..........

A Nice +7.5R profit :)

There are many more examples, but these are just a few to show you that, Yes MTPredictor does work on Futures :)

Steve

[ericd2281]

It really depends on what you define as 'too much $ risk' and how it relates to your account size. I trade futures EOD and the $risk (Daily Range as expressed in $) is generally ~$800 per contract. Sometimes more, sometimes less of course. I can't imagine you could trade full size futures contracts with less than a $50k account and only risk a reasonable % of the account on each trade.

Eric

[Steve Griffiths]

Yep,

We suggest a maximum of 2-3% to risk on any one trade.......

But this is the beauty of the MTPredictor set-ups, because they allow you to enter very close to the actual turn, therefore reducing your initial risk to an absolute minimum (far better than many other techniques :) )

Steve

[radar]

Hi Steve,

Thanks for submitting the pictures. And thanks to everyone for your comments.

I guess the trick is to stick to using 2-3% risk per trade and to be mindful that I will not be able to take many of the trades that show up. Any hints on which futures markets to concentrate on, given a smallish account size ($10k)?

thanks,
radar

[radar]

Another related question: Does the methodology MTP uses tend to work better with futures or equities? I guess the question really is: does MTP's Isolated Elliott Wave methodology work better with futures or equities?

Thanks,
radar

[stylist]

I dont think you can trade EOD futures with 10k account but you can trade stocks or switch to daytrading what ever you choose i will suggest you to do two things
1.Filter the trades with the stf or any other trend filter
2.Risk only 1% on each trade
Its better to be rich slowly then poor fast

[Steve Griffiths]

Another related question: Does the methodology MTP uses tend to work better with futures or equities? I guess the question really is: does MTP's Isolated Elliott Wave methodology work better with futures or equities?

Thanks,
radar

Hi Radar,

both.............

BTW, most of my trading in my early years was on EOD Futures, these are the markets I developed my routines on that now lie at the core of MTPredictor ........ :)

Steve
MTPredictor developer....

PS great advice from sytlist "Its better to be rich slowly then poor fast", in other words only trade what you can after to risk and keep that risk small....... good wise words there !