Quote:
Originally Posted by jswin
I've traded MTP EOD for nearly three months with real money after paper trading for approximately six months. I am very picky on my setups - nearly all are automatic with full restrictions on and in addition to that I look for a good ABC pattern and only take trades in the direction of the overall market trend, if one has been established. If the market is consolidating I'll go long and short but generally not against the trend of the individual stock.
Closed trades: 17
Wins: 2
Loss: 9
BE: 6
The interesting thing is that I've won 11R and lost 9R - so slightly up overall. I just closed Coca Cola for a 7.5R win in three days which was fun. According to most MTP users, I should expect 40% wins, rather than the 12% I've achieved so far. In correlated markets like stocks I can see understand it is easy to go through a period of losses like I've experienced, so I am actually very impressed that MTP has held its own through a poor trading period and I expect it to achieve its 40% target and be profitable once it does. I'll post again after 50 trades.
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I have now completed 28 trades and have two currently open. Utilising the same trade selection criteria outlined above, my results are now as follows:
Trades won: 6 for 23.35 R
Trades lost: 15 for 15 R
Trades broke even: 7
Open trades are winning and would provide 4 R if closed now.
I am pretty chuffed that MTP has come back strongly from my initial drawdown to have me nicely in profit
