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Guided Tour End-of-Day - MT - Predictor

This section shows the process of using MTPredictor End-of-Day to identify exceptional trade set-ups, evaluate their Risk/Reward outlook and manage the exit strategy of the selected 'ideal' trades.

MTPredictor EOD makes excellent stock trading software, futures trading software, forex trading software or options trading software. Most traders will monitor a portfolio of markets, so the first step is to scan your database...to cut the list to only those with a high probability of ending their correction to a trend, and then resuming that trend. See 'The 3 key Trade Set-ups' for the importance of this ABC correction.

With MTPredictor, this is a very simple procedure - simply select the criteria to search for and run a scan. In Standard Use, the three key trade set-ups - TS1, TS2 and TS3, all forming a simple ABC pattern - are pre-ticked on the main page of the Trade Scanner. So, to scan a database for any of the three set-ups unfolding now, just click on 'Show me':

Also pre-ticked for Standard Use are the three restrictions. The Scanner will search for markets that meet these three criteria: they are in an ABC correction-to-trend, either at or very near the Typical price target (using Fibonacci numbers) and have a blue buy or red sell bar. They are potentially a simple TS3 set-up, a TS1 set-up or a TS2 set-up (click here for more info on the set-ups).

As shown above, two results from this S&P 500® scan were identified as potential set-ups.

Note that for Advanced Use, simply un-ticking the 'Typical Wave C WPT' restriction enables the expert to scan also for trade set-ups at the two Wave Price Targets either side of the 'Typical' - the 'Minimum' and 'Maximum' zones. The expert user may also scan for additional Elliott wave patterns, for example Wave 2orB, Wave 4 and Wave 5.

The next stage is simply to double-click the name in the list and the chart is drawn automatically. Simple and quick.

The trade set-up is confirmed visually on the chart itself as, by double-clicking on the chart name from the Scanner list, the set-up analysis found by the Scanner is projected automatically onto the chart:

As can be seen here, the software automatically displays the three essential criteria for a standard MTPredictor trade set-up:

A simple ABC correction - here, a correction down against an uptrend for a TS3 low
The corresponding Typical Wave C WPT (Wave Price Target) support area (in pink )
The price reversal bar, coded blue for buy

This confirms that HSY was potentially in a simple ABC correction down, reversing off a good support area (the typical Wave C WPT here) and showing signs of price reversal up. Now is the ideal time to consider a new Long trade.

The next step is vital - to evaluate the trade's potential profit vs. loss. To achieve this, the powerful T module in the software automatically both analyzes the trade set-up and displays the appropriate profit targets. See the chart below:

But, more than simply projecting the profit targets, the T module calculates the trade's Risk/Reward ratios - what the profit would be at each of these projected profit targets compared with the initial (money) risk needed to take the trade. Using MTPredictor's Isolation Approach™, the precise Entry Price, Initial Stop Price and Price Targets are known and Risk/Reward can be calculated.

Also shown are the price at which 100% of the initial risk will be covered and the price at which the profit will equal 2-3x the initial risk (enabling the trader to confirm that the first profit target is at least in the blue 2-3x risk zone). See the window below:

Here, this trade had the potential to return approximately 5.5x initial risk at the first profit target, (orange zone above) - clearly a very good trade to consider.

A buy order to enter long can be placed now, one tick above the high of the blue reversal bar. If filled, a protective sell stop is placed one tick below the last swing low. Precise entry and exit levels eliminate trade and risk confusion.

This is all that is needed in MTPredictor to identify low risk/high return trade set-ups.

The software is designed so that all that is needed to identify an ideal trade set-up with a strong Risk/Reward profile is a few simple mouse-clicks. In particular, the Trade Scanner ensures that valid set-ups need never be missed again!

Moving forward in time, this is how this trade worked out:

The market rallied very strongly over the next few weeks. Using the standard trade mangement guidelines would have resulted in a profit of approximately 11x the initial $ risk required to take the trade (excluding slippage and commissions).

Can your current software program identify, evaluate and manage such low risk/high reward trade set-ups as simply and decisively as MTPredictor ?

Click here for more recent trades on your preferred timeframe.

Using Elliott Wave for the business of Risk/Reward trading is now possible with the MTPREDICTOR™ series!

General information only - Non Advisory
Before making an investment decision on the basis of this software, the investor or prospective investor needs to consider, with or without the assistance of a securities adviser, whether the advice is appropriate in light of your particular investment needs, objectives and financial circumstances of the investor or prospective investor. Paritech Financial Services Ltd provides extensive training on the use of this and other products. Please do not hesitate to contact us for further information.