Larger degree (15min) Trend

As you can see form the 15min YM chart, we had a high unfold, right at the Typical Wave 3 WPT. The YM then started to decline after that. So “at the time” the 3min TS2 buy came in, the 15min trend was down off the Wave 3 high............

So the Advanced Traders among you could have either decided to avoid the trade, or treat it with caution.

Advanced Trading is a skill that takes time and comes from lots of practice, but in MTPredictor you have the tools to help you all become better traders.

Thanks, Steve

Yes losses can happen

Hi Everybody,

After the nice TS3 buy on the 3min Russell (main Blog post) there was a TS2 buy on the 3min YM............... As you can see, this was “in line” with a blue STF, so yes, it would have been a losing trade for the Standard Traders among you. We all know and understand that losing trades can and do happen, and it is important for me to show them here as well.

But what of the more Advanced Traders ?

Well, let’s take a look at the “larger degree trend” using the 15min Chart, next post.

Thanks, Steve

Maximising the Profit

OK, now we have seen that the 15min ES had declined into the Typical Wave 3 on the 15min Chart, we can use this to help trade management on the 5min chart. As you can see, at about the same time, the 5min ES had reached the Typical; Wave 3 WPT. Again, this was a “likely area” were a low would come in...........

Combining the two support zones would have meant that is would have been “sensible” to look to lock in the + 8.4R Profit (ignoring slippage and commission).

What a brilliant day, and a brilliant example of how all the tools in MTPredictor came together to help you nail and then mange this trade. Over +8R Profit is a massive trade and one that shows the true power of MTPredictor.

Thanks, Steve

The true power of MTPredictor

Hi Everybody,

We have already seen how the TS1 sell made a nice +6.9R Profit for the Standard Traders, but would Advanced Analysis helped us even more ?

Well, yes, as you can see, the 15min ES was declining form a good looking Wave 5 high, so we should already have “been preparing for” short trades as a decline as anticipated. So the Advanced Traders among you should have been all over the TS1 sell on the 5min ES as it came it............

But then (and this is amazing), just look where the decline stopped.................. right at the Typical Wave 3 WPT on the 15min ES chart. This would have helped in Trade Management of the 5min short (next post).

Thanks, Steve

Different Signals

Hi Everybody,

I do get asked sometimes about why we can get different signals between the full MTPredictor v6.5 and the RT add-ons. Firstly, we all know how different data sources can be different, and that is why most setups are different from person to person. But because the RT add-ons have been coded in a different language by a different programmer, there are very small difference between the code in MTP v6.5 and the RT add-ons.

An example is the TS4 sell on the main Blog today on the 3min YM, this was not found in the RT add-ons for Ninja 7.

This is not a problem, as 95% of signals are the same, and then for the other 5%, as long as you stick with the platform you are using yourself, these small differences will even themselves out over time...

We are looking at trying to minimize these difference in the new NinjaTrader 7 versions of the RT add-ons, but this is an “ongoing process”. But now we have added the Elliott Wave tool in the new MTP RT add-ons for NinjaTrader 7, these setups can be found manually, as you can see in the chart.

Thanks, Steve

PS, this was using the new MTP RT add-ons for NinjaTrader 7, than includes the Elliott Wave module.

DP sell on 3min NQ

Hi Everybody,

Normally, the “Advanced Trader” does a lot better than the “Standard Trader”, however, yesterday was an exception............ The reason was that (for me anyway) the DP sell on the 3min NQ looked to be a good setup as it also fell at 15min DP resistance (not shown), so “should have” nailed the high and a decline “should have” followed..................... But this did not happen, with the NQ only chopping sideways off this high.

We do all have to remember that the market “always” has the last word, so no matter how clever we think we are or how good we think our analysis is, we always have to accept that the market sometimes will not do as we wish. That is just trading !

We have had some massive Profits over that last few days using Advanced Analysis, so we should not greedy :)

Thanks, Steve

TS4 Buy nails the low

OK, now we know that after lunch the larger degree tend was up, we could have taken the TS4 buy at 14:00EST on the 3min NQ with confidence (even if the STF was red)...............

As you can see, this nailed the corrective low (to the bar !) just before the NQ shot off higher. The STF was strong as the first profit target was reached, so you should have swapped to the ATRStop. This held the long trade into the close for a massive +9.9R Profit (ignoring slippage and commission) !

Yesterday was another perfect example of why I want you to all become “more advanced” traders and as such be able to “read” the charts, with this brilliant trade as well as another great trade on the 3min Russell Index. The NQ would have given you a massive +9.9R Profit add that to the +10.4R Profit on the ES yesterday and you have back to back +10R Profits each day over the last two days using Advanced Analysis............... This is the true power of MTPredictor and why, once you understand how to use it properly, you will see how it is one of the most powerful software programs around.....

Thanks, Steve

Larger degree trend

Hi Everybody,

As usual, let’s start with the larger degree trend................... And what interested me was how the 15min NQ made a automatic TS4 buy around lunch time. This set the “larger degree” trend to up............

As such, you should have been on the lookout for any buy setups that appeared later in the day on the shorter term 3 and 5min Charts

Thanks, Steve

ATRStop runs short trade

Hi Everybody,

OK, now we are back on the 3min chart, we can see how the ATRStop would have held this short trade for a massive +10.4R Profit (ignoring slippage and commission) !

This is why I spend so much time, trying to get you to look at (and then read) your charts. This is a lost art nowadays with so many “automatic system” around today. I find this so sad, as it has “de skilled” the trader, almost to a level where people are unwilling to try and “learn” how to trade........... This is so sad, as a “mechanical” system will never be able to trade as well as a good Human Trader. And as such, massive Profits like this will remain for those few traders who take the time and make the effort to “learn” how to trade well

Thanks, Steve

Larger degree trend

Hi Everybody,

We have all see the TS2 sell on the 3min ES that nailed the high of the day (Standard Blog page), but it would have been nice to catch more of that sharp fall............ Well, this is where a look at the 15min (larger degree trend) will have helped....

Here we can see that as the TS2 sell reached its first profit targets, the 15min ES had bookend back down the current DP support level. This is Bearish, and a sign that the current down trend will continue..... With this in mind, it would have been a good idea to look to run the current TS2 short trade on the 3min chart further.

OK, onto the 3min Chart.

Thanks, Steve

MTP RT add-ons for NinjaTrader 7

Hi Everybody,

Most of my charts on this blog are made using the full MTPredictor v6.5. But as outlined at: http://www.mtptrader.com/showthread.php?p=20404#post20404 we have been working hard on incorporating the Elliott Wave module and the high volume (VSA) indicator into the upcoming NinjaTrader 7..........

We are not ready to Beta test these new MTP RT add-ons just yet, but as you can see, we are getting close............

Thanks, Steve

High Volume (VSA) bar

Hi Everybody,

As you have already seen, there was a nice automatic TS3 buy that came in juts after lunch on the 5min Russell............. But what interested me was how “at the same time” we got a Wave 5 low on the 3min YM. Normally this is not a reason to take a trade, but what I liked here was that the Wave 5 low fell at the Typical (pink) WPT zone, as we have a high volume (VSA) bar................. This usually is sign of a trend reversal.

As you can see, this nailed the low and the result was a nice +4.4R Profit as the YJM rallied strongly into the close....

Thanks, Steve

DP buy nails the low of the day !

OK, now we know that this 3min DP buy was in the same area as the 15min DP support zone, the Advanced Traders among you could have taken the long trade with confidence. This had you long form the low of the day !

As the STF was strong, the ATRStop was used, which held the long trade for a nice +5.8R Profit (ignoring slippage and commission).

As you can see, this is a very good example of how to use the 15min Charts for “larger degree” support / resistance to then help you with your shorter term 3 and 5min trades.... But as it does require a little work from you, it is for the more experienced traders amount you.... But, as you can see, the rewards are great, so I do encourage you all to take the time and learn how to become a better and more experienced trader – it will be worth the effort !

Thanks, Steve

15min trend

Hi Everybody,

As all the Advanced Traders among you already know, it is always important to keep an eye on the 15min Chart for areas of “larger degree” support and resistance.... So when the NQ stopped right at the 15min DP low just after open, the Advanced Traders among you should then have had the confidence to take the automatic DP buy on the 3min Chart.

OK, onto the 3min Chart now...........

Thanks, Steve

Elliott Waves

Hi Everybody,

As usual, in this blog, I would like to take a look at how the Advanced Trader, could have maximised their results, using the additional tools in the MTPredictor software and experience.

The standard Blow looked at a TS4 sell on the 5min YM, and then used the STF for stop adjustment. But when we take a closer look at the decline off this TS4 high, we can see that it unfolded in 5 waves, as automatically found my the minor Elliott Wave module.............. We all know that once you get into a Wave 5, the current swing is usually over, so what would the sensible thing have been to do once this decline entered a Wave 5, and (more importantly) reached the maximum Wave 5 WPT ?

Exactly, start to protect the profitable short trade more aggressively. The result was a massive +7.8R Profit (ignoring slippage and commission).

BTW, notice how the TS4 sell nailed the high of the day and the low of the day was at the maximum Wave 5 WPT – so MTP nailed both the high and the low of the day for you yesterday - now that I find amazing !!

Thanks, Steve

3min Chart

As you can see, this would have helped avoid the losing (-1R) sell in the morning.............. And then would have helped you take profits at the WPT target from the main TS3 long trade, rather than swapping to the ATRStop, but Advanced Traders would have seen that the YM was already at “larger degree” (15min) resistance so it would have been better to look to Bank the +4.7R Profit (ignoring slippage and commission), rather than swapping to the ATRStop in the hope of a continued rally...

Yet again, we can see how the Advanced Trader, with thier extra knowledge and experience can do well. This is why I spend so much time and effort to help teach you all become better traders...........

Thanks, Steve

15min trend

Hi Everybody.....

OK, we have already seen how the Standard Traders would have had a Profitable day on the 3min, but could the Advanced Traders done better by looking at the 15min Chart ? Well, the answer is Yes...............

Please take a look at the 15min Chart before we move onto the 3min Chart

Thanks, Steve

High volume spike (VSA) nails the high Part 2

OK, let’s now move down to the 3nmin Chart, where we can see that we had a classic high volume spike reversal setup at 14:09, where the Russell Index (TF) broke to new highs, but then reversal at the DP on a high volume (VSA) spike. This is a classic and perfect example of a blow off top and signals a reversal. Notice also how this fell in line with the 15min resistance as well – all in all a perfect setup...

This nailed the high of the day, off which the Russell fell sharply going straight though the initial target. The ATRStop then held the short trade into the close for a massive +11R Profit (ignoring slippage and commission)....

So here we are, with MTP nailing the exact high or low of the day on the US e-minis for the third day in a row ! I just hope you are all paying attention and making use of these powerful tools in MTPredictor................

Thanks, Steve

High volume spike (VSA) nails the high !

Hi Everybody,

Today we have a brilliant example of the high volume spike (VSA) trade on the 3min TF. But before I get onto the 3min chart for the setup, I want you all to see the “larger degree” trend on the 15min Chart. This shows you why you should have been looking for 3min sells around 14:00EST

As you can see, at approx 14:00EST, we not only had the 15min TF near DP resistance but was also right at the minimum Wave 5 WPT, after a very nice 5 wave rally. This was signalling a top, and a reason to aggressively start to look for sell on the shorter 3min charts....

Thanks, Steve