Protect your profits/Let your profits run

[Steve Griffiths]

We apologize for inconvenience but this thred has been removed because we found out that "Dave Todd" was actually "Vernon" who has already been banned from this Forum several months ago. He tried to come back under an assumed name but we traced him back to be the same person.

We are happy to be as open as possible here, but we cannot accept banned users returning under assumed names as this is plain deception.

We expect a certain honesty with people on this Forum and people not displaying this (as the vast majority of user do) will not be accepted.

Thanks

Steve Griffiths
Managing Director

[Rimu]

Steve..
Unfortunately the thread was deleted minutes after I asked you about some Emails I had sent you about MTP, so you probably didn't get to read my post. As there is possibly a problem at my end sending Emails to you I hope you don't mind me posting my queries here instead. (McDirt, thanks for your PM, I replied a couple of days ago, but if you didn't get it I'm probably having trouble with my PM sending as well. :( )
As a legitimate potential purchaser of MTP I am interested mainly in its scanning routines. I noticed in your daily newsletter item on the AUDUSD60 yesterday that the trade was not valid under MTP projected time zones, however on my manual (and tedious) analysis I had it hitting what I considered a relevant projected time zone and qualifying as a trade. I realise that you cannot programme in every possibility but as two of the three fib lines in the cluster were what I considered to be important it has me a little concerned about the scanning capabilities.
The other concern I have is regarding the Trade Management module, is it possible to have a line put in allowing a user to enter spread/commission as this can greatly affect the RR. I'm not sure what the spread/comm rates in the UK and US are but here in AUS I get 4 points a side on mini Forex (8 a round), in the attached chart you can see the difference it makes to my trading, the green RR levels are without spread/comm and the white RR levels are inclusive of my 8 point in total spread. The MTP module would show a 2RR whilst I would actually only be at 1RR.
Thanks in advance for your time
SteveH

[Steve Griffiths]

Hi Steve H,

yes I did get your email, and I replied, did you not get that reply (?).
Without going into detail of how MTP works, the WPT's show the most important Price clusters based on my own experience over 20 years. Yes you may occosianally get one "outling" Fib ratio that may look good on manual analysis, but overall the WPT's do a great job of nailing turns in the markets.

Secondly, a very good idea, and one I am looking into here. I just need to work out exactly how to do the maths so it fits in with the current way the R/R and position sizing module works

Thanks, and I hope this helps ?

Steve

[Rimu]

SteveG.
Thanks for the reply, and no, I didn't and still haven't got your Email, sometimes they get lost I think. One of the Fib extensions in the cluster was a 161.8 of "B" which I have found from my experience, along with the 100 expansion, is one of the most important Fib ratios, but am happy
with a healthy difference of opinion :D .
Would be good if you could fit in the spread/commission to the RR equation, particularly for the unwary.
Once again, thanks for your time.
Cheers....SteveH

[Steve Griffiths]

Hi Steve H,

I also think that my data on the AUDUSD 60min looks slightly different from yours, which woudl make a big difference, so I would be interested to see what your data looks like in MTP, can you please trying sending this to us at support@MTPredictor.net attaching your data file on this AUDUSD 60min (is it in ASCII format ?)

Thanks

Steve

[davidl]

Steve..
Unfortunately the thread was deleted minutes after I asked you about some Emails I had sent you about MTP, so you probably didn't get to read my post. As there is possibly a problem at my end sending Emails to you I hope you don't mind me posting my queries here instead. (McDirt, thanks for your PM, I replied a couple of days ago, but if you didn't get it I'm probably having trouble with my PM sending as well. :( )
As a legitimate potential purchaser of MTP I am interested mainly in its scanning routines. I noticed in your daily newsletter item on the AUDUSD60 yesterday that the trade was not valid under MTP projected time zones, however on my manual (and tedious) analysis I had it hitting what I considered a relevant projected time zone and qualifying as a trade. I realise that you cannot programme in every possibility but as two of the three fib lines in the cluster were what I considered to be important it has me a little concerned about the scanning capabilities.
The other concern I have is regarding the Trade Management module, is it possible to have a line put in allowing a user to enter spread/commission as this can greatly affect the RR. I'm not sure what the spread/comm rates in the UK and US are but here in AUS I get 4 points a side on mini Forex (8 a round), in the attached chart you can see the difference it makes to my trading, the green RR levels are without spread/comm and the white RR levels are inclusive of my 8 point in total spread. The MTP module would show a 2RR whilst I would actually only be at 1RR.
Thanks in advance for your time
SteveH

Rimu, until Steve figures the math out. You can use this forex calculator. It is awesome and free! Using this calculator will solve your problem with the spreads, so you can very easily nail down the amount you want to risk. Here is a snapshot of mine. FYI, you can put bs information in to get the download. Hope this helps.

http://www.alexdouglas.com/

David

[Matt Bowen]

I would like to add a few comments here as to why Steve removed the thread Protect your profits/Let your profits run and to set the record straight.

First off, this person Dave Todd (was in fact not even Dave Todd but rather some pseudo poser) didn't even have the story correct as to why the changes were made in the MTPredictor report.

The MTPredictor report was started for one simple reason...to prove that you could make money trading the raw (unticked) settings in the scanner. I was repeatedly told by people that you couldn't make money trading these signals. Finally, after hearing enough of this BS, I decided to put my money where my mouth was and spent the next 9 months showing people that you could in fact make money using this strategy. In addition, to the report I added some special files and attachments that I felt would help people understand what professional trading is all about. After spending 13 year teaching people trading I have a pretty good idea why most people are wired to lose at trading...in 60% of all cases it has to do with position sizing and risk control...the other 40% has to do with some psychological baggage that they need to get rid of.

Second, After reading the messages from our pseudo friend (Dave Todd), I question his motive and language as I like to read between the lines of many post...if you really study the questions being ask you can see where they are going and in his case, he was only using part of the story to paint a picture of our performance. If he truly had been following the report and read the newsletter, he would have understood why we changed the exits. The bottom line is it's idiots like this that ruin it for everybody else, you try to help people with a free report and then I end up spending 2 hours each day answering questions and because some people are too lazy to figure it out and decide they want to only tell half the story as to what THEY think is how it should work. Enough is enough, I don't have time for it, nor do I need the aggravation.

Third, I decided to do a little investigation work and find out who this (Dave Todd) jackass really was...it turns out he was using an Australian e-mail address, but I noticed that his IP (Internet Protocol address) was from Italy. I said, this does not make any sense. Upon further investigation I noticed that his IP address was almost identical to our old friend "Vernon" who said he was from France...remember him...another pain in the ***! Next, I checked a number of banned users from the forum list and this guys IP address is listed on 3 banned users... So Dave Todd or Vernon or whoever you are...SHUT UP, STOP WHINING and GET A LIFE... which happens to be the title of the book that you Dave Todd should read (see, I'm not that bad I'm trying to even help lost souls such as yourself), ha ha!!!

http://www.superbookdeals.com/cgi-bin/moreinfo.cgi?item=1845347&bisac=


Forth, this guy criticized my performance using these techniques and said the the system is broken and no longer works, well like I said before you if you read between the lines you can see that this person does in fact, not understand trading, but I'll answer it hear so that even Dave Todd understands how trading really works.

Currently the report is at a $140,180.75 with a net profit of over $90,180. dollars in 8 month or up 180.3%. Having said that, we started this report with one objective in mind and that was to show people that you could be successful trading only the standard (raw) signals that did not have any filters on. It just so happens that the commodities markets are flat right now. In fact, if you look at the CRB index (picture below...the CRB tracks the entire basket of commodities) the commodity markets have gone nowhere since mid-January... how am I supposed to make money on daily charts when the market has gone nowhere? It would be a different story if we were spread trading, but we are not doing spreads here (small moves do not give you big gains...HELLO). What you need to understand is that during the same time frame I know many people who have lost BIG money and we reported a closed out equity on January 23, 2006 of $149,031.65 our current equity is now at $140,180.75 so that is a loss of $8,850.90 or 5.9%. If people can can't handle a 5.9 drawdown as in this situation, I've got a rude awakening for them, this business will extremely difficult because the above performance would have been very well received by ANY hedge fund. Coming back from a 5.9% drawdown is easily done on 1 trade, however many people think the equity should never draw down??? Where they get these ideas from, God only knows...

[Rimu]

David.
Thanks for the link, will definitely have a look later when things have quietened down. Sure beats the spreadsheet I cobbled together!! :D
Have you checked out the Stator site, they have a few handy FREE downloads as well.
Cheers...SteveH

[Rimu]

SteveG.
Untill recently I was using Metastock with Bhodi Freeway Data(Aussie mob) but as they only supply intraday snapshots coupled with the near impossibility of doing anything with Metastock language I have decided to upgrade the whole lot, have nearly settled on Genesis for charting and Data. At the moment I am using my brokers web based charting and Data, an amazing amount of data and exchanges are available, a good solution for the interim. Have tried to extract Data but as you can see in the attached the database is locked :( . (Thats the main reason I am moving on to Genisis.
Cheers...SteveH