Gold

[Steve Griffiths]

Hi Everybody,

I have been following this trade in my dialy report. And as you can see from the chart below, Gold has now reached its first profit target.

Nice example of the ABC pattern that makes up the TS3 trade set-up, in particular how the 3-swings that made up the ABC were clear, clean and obvious. This is what I like to see in my ABC's :)

Steve

[Vernon]

Dear Steve!
Very nice example of what you mean "nice,obvious ABC pattern"; but... if we'll take 10 traders and if we'll make them look at a certain ABC, some of them will say YES, some of them will say NO when qualifying a certain ABC pattern as Obvious or not obvious!
All of us know that trading is something like a statistic game , but not a Casino!
There are "random"pieces( variables) in this puzzle, but there are also "no random" pieces( variables), as Elliott itself said at the end of his activity!
Now, what we deal with when saying that this ABC pattern is obvious must be a certain measurable aspect characterizing the ABC pattern!
Should anyone have an idea about how to qualify this setup as an obvious one? Pay attention : Sometimes, the best solutions are the simplest!
Vernon

[Vernon]

Hi, Steve!
Please, take a look at my previous question rgd ABC obvious pattern problem!
Thanks,
Vernon

[Steve Griffiths]

Hi Vernon,

No porblem that I can see, this is just another example of a perfect ABC pattern. This is why I post so many charts here and in my daily report, so teach customers what to look for in the perfect ABC pattern.

I see Gold is up again today :)

Thanks

Steve

[Tony Beckwith]

The successful outcome of the long Gold trade...


+2.8x the initial money risked, using the STANDARD MTPredictor trade management guidelines. Excellent!

As we've said on other threads on this BB, the standard guidelines are simple to apply, entirely logical and difficult to beat in terms of the necessary running of winners.

Thanks

Tony.

[Vernon]

Hi Tony,Hi Matt,
Some months ago in one of your reports, you said:
This new Quick Strike plan is designed to take profits early and more often (by use of the "2-3x profit zone"). This has the benefit of producing more regular profits, especially in a non-directional market.
All of us saw that this Quick Strike plan was a failure!
I was really wondering if MTP really works: someone from your stuff said some days ago that MTP works whatever would be the SL trailing modality and the TP policy. This is not true: again: see the Quick Strike plan.
At a certain point, you simply gave up to post and to update the results!
MY question is :
If we deal with a non-directional market (as you said above) and due to the fact that the much-talked-about Quick Strike plan simply doesn't work, what could we do???
We know all that not all the markets are well trending markets! Even those markets well trending today maybe will be not well trending tomorrow!!!
How can MTP adapt itself to all these markets?
The fact that Quick Strike plan didn't work, means nothing if you don't find the solution for these markets!
I think that if you solve this problem, the trending markets are not a problem for MTP, as all of us can see!
Any comments, please?

Vernon

[Steve Griffiths]

Hi Vernon,

Agreed, we did try this mainly beacsue we were after a method of increasing the win/loss ratio. However, as you say, this did not turn out as good as we anticipated, as such we reverted quickly back to the origional MTP stratergy of letting the profits run. Agreed, this does porduce a lower % profits however, does make more money over time. This has been proved by Tony's origional RT track record, Matt's daily report, Phillippe's posted results and many many more succesful traders using MTPredictor.

Thanks

Steve

[Vernon]

Hi, Steve!
Just for keeping the truth:
The Philippe's Third Scheme is nothing more than Quick strike Plan!
If one look attentive the Phillippe's results, could understand that the Third Scheme Plan works! We all know and you was honests to declare that Quick Strike Plan simply didn't work!
60/80 setups means nothing: example: Phillipe used about 60 setups!
The Fourth Scheme of Phillippe's study is your set of rules! And it was the best of all of the 4 Schemes!
So, please, Steve:
Can you honestly say that MTP can be the answer also for non-trending markets? By now no answer to this problem!Thanks,
Vernon

[NHN123]

Hi Tony,Hi Matt,
Some months ago in one of your reports, you said:
This new Quick Strike plan is designed to take profits early and more often (by use of the "2-3x profit zone"). This has the benefit of producing more regular profits, especially in a non-directional market.
All of us saw that this Quick Strike plan was a failure!
I was really wondering if MTP really works: someone from your stuff said some days ago that MTP works whatever would be the SL trailing modality and the TP policy. This is not true: again: see the Quick Strike plan.
At a certain point, you simply gave up to post and to update the results!
MY question is :
If we deal with a non-directional market (as you said above) and due to the fact that the much-talked-about Quick Strike plan simply doesn't work, what could we do???
We know all that not all the markets are well trending markets! Even those markets well trending today maybe will be not well trending tomorrow!!!
How can MTP adapt itself to all these markets?
The fact that Quick Strike plan didn't work, means nothing if you don't find the solution for these markets!
I think that if you solve this problem, the trending markets are not a problem for MTP, as all of us can see!
Any comments, please?

Vernon

Forgive me for speaking out of turn here; I know this was not addressed to me.

In the training manual, it says that there are only a few markets at any one time that has a valid EW on it (or something to that effect). To this end, by sticking to the same markets, you cannot expect them all to trend all of the time, therefore, you are going to get rangey markets, which are hell for the trend follower...

Now, I don't know what markets you trade, but surely if you use MTP as a scanner, and find the best markets, you should find a potential trending market.... Maybe that will be the best way of dealing with rangey markets - not to trade them and find a better market...

Apologies if I have missed the point.

[Steve Griffiths]

Again you have misunderstood, why are you asking about non trending markets. As a trader you should know that these are the worst places to look to trade. This is why we focus on the ABC correction because when the move comes off this it can likely turn into a strong impulsive Wave (3) type move. these are the best ones to trade.

A great example is the 60min Euro trade by Durgesh, the first two profit targets were exceeded as the EUR reached the 3 target (Typical Wave 3 WPT) where it retunred a porfit in excess of 9x the initial........... these are the types of trades you should be after.....

As such you are looking in the wrong place for trades.......

Steve

[Steve Griffiths]

Hi Nick,

You are perfectly correct................ a good idea to stay away from no-trending markets, it is the strong impulsive swings that make the big profits.

Well done Nick - perfect answer............

Steve

[Vernon]

Hi all!
I'm still not a MTP user, but I want to be!
I want to understand some more in order to valuate if this is for my trading style or not!
Example:
Let's say we deal with two different markets . MTP find two different setups!
How could you say: this market is a trending one, this other is a non-trending one! Remember: MTP found two goos setups in both these two markets!
What make you say : one yes, the other not!
Maybe I would say better: Some markets are not to be traded!!!
Do you have a criteria for choosing among them??? Because, as I showed here, it is possible to get good valid setups even in a non-trending market! I saw many posted here!
Thanks,
Vernon

[NHN123]

Hi all!
I'm still not a MTP user, but I want to be!
I want to understand some more in order to valuate if this is for my trading style or not!
Example:
Let's say we deal with two different markets . MTP find two different setups!
How could you say: this market is a trending one, this other is a non-trending one! Remember: MTP found two goos setups in both these two markets!
What make you say : one yes, the other not!
Maybe I would say better: Some markets are not to be traded!!!
Do you have a criteria for choosing among them??? Because, as I showed here, it is possible to get good valid setups even in a non-trending market! I saw many posted here!
Thanks,
Vernon

Hi Vernon,

I'm no expert, but I think MTP works by finding an impulsive move (strong trend), then a corrections to that that (ABC pattern) and a PROBABLE end to that correction. So, therefore, it will only pick what the maths deem to be a trending market. Of course, it gets it wrong (quite frequently), but if you follow the rules - especially the money management rules - you will make money, I'm sure. Read the free training course part 1, watch the slideshows on the website, then you will look at the markets in a new way...

Plus, I can honestly say, if you ever need help Steve is always very willing to help.

Trading two markets will limit you. In my opinion, you can trade any market using MTP, because you don't need to know it well (fundamentally) because it is purely technical.

I am new to it, so have not yet cracked it, but I'm sure I will following the rules.

It's good to be critical before a purchase - I was, I reckon I sent 60 emails to steve before I bought it! Steve must have got sick of me!