I have been testing a software called MT predictor owned by Steve Griffiths who has been on CNBC in the past when his software nailed the actual market low in march 4th 03 (S&P Futures live on TV).

The software is based on Elliott Wave which only concentrates on:
: Ideal trade set-ups
A powerful scanner finds the waves meeting exceptional criteria.
: Ideal trades
A Risk/Reward module that analyses potential gain/risk of loss BEFORE you enter the trade.
: Ideal trade size
Initial Risk module determines position size.
: Ideal trade management
Display modules that show exit/stop strategy
: Systematic Elliott Wave patterns
Show Elliott Waves module finds only the valid patterns.
: Advanced strategies

Excellent additional trading opportunities and trade management plans.

Included with the software is a nearly 500 page course which covers everything you will need to know about how to trade Elliott Wave profitably, right from identifying the trades and key set-ups right through the trade to the end.

The software is $1995 and if you purchase the software the course is free. You also have a 30 day money back guarantee or you can buy the course for $95 on it's own. The course covers the basics on Elliott Wave theory, right through to actually trading Elliott with advanced trading techniques in different time frames etc. I am only a third of the way through the course and it has brought home a few facts that I didn't know along my journey of trading.
I can see the detail of information which is in this course in seminar form costing over $2000 a time.
You also get a free daily report with trading opportunities, and access to a private members only club.

Also what I like about this company is the friendlyness. Tony the sales Director, has been really helpful (the same goes for Steve) and always replies through email swiftly.

I am testing the EOD version as the real-time isn't out yet but will be soon. So far I have been pleasantly surprised with the accuracy of the software and scanner. The software only concentrates on the most profitable of the Elliott Waves, the five impulsive and the three A,B,C simple correction waves. It doesn't get caught up in all the complex corrections etc.

My stress levels have reduced as I now at close of market download the data and then just scan for the three key set-ups, ABC correction and type one and two set ups. It displays your trade trigger point, where to set your stop, the 100% initial risk point, and all the targets based on Elliott and Fibonacci all on the chart with a click of a mouse. The only thing it doesn't do is put the trade on for you!

As Forex has large intraday swings, I click the 'Show Elliott Waves' button and it shows me any valid Elliott Waves so you then just trade with the trend intraday (until the real-time is released then use that).

Initial Risk/Reward (the real holy grail):

I have relearned that the real holy grail is all about Risk/Reward and
preserving ones trading capital as most of us know the market is not there to give us profit, we must take it with the minimal Risk as possible to our trading account.
This software displays the Risk/Reward on every trade BEFORE you enter it, you ideally want to take trades with a Risk/Reward of 2:1 at the FIRST trade target.

The course covers all this and more.

Forget all those $79 downloadable cheap courses you see advertised all over the net, been there, done that, and wasted my time and money along the way. Where they are helpful for the absolute beginner to just get a grasp on the market place, a lot of the information is freely avaliable on the net if you don't mind searching.

You won't get the information for free that is included in this course imho.

To all those who are starting out trading: If you think $1995 is a tad too expensive, come back to this thread and read it again when the market has taken every penny off you because without the right training I can assure you, it will, as 95% of traders fail in the first two years.

Here's a link:



Have a look - click here

UPDATE: Cairn energy trade was never triggered so no loss. It is however currently in the min Wave 5 zone (1125/1170) and the typical wave 3 zone is approx 1227/1275, wide I know but this is end of day daily chart data don't forget.

IT - Still here listening with interest, just thought with so many signals how many trades are paper are you selecting and are you trying different signals for oversolds, boughts early, etc.You must be a busy man with all the reading and getting to grips with the software, the real tougth part this but sounds like the course which accompanies the package is quite detailed, how you finding time to trade as well. LOL

SP

Where do I get the time? Good question, I need 30 hrs in a day.

Get up before 6am and to bed by 12pm if I'm lucky.

Who said trading was easy?!

There's not many signals once you get a handle on it, as the software does most of the work. If you want to be lazy, just scan and only take the safest setups. Even then there is no guarantee of a profit, there never is, but if the trade does go against you at least the loss will be a small controlled loss.

Oversold/overbought, who decides that an 'indicator'? A stock is overbought when it fails at a higher high then turns to make new lower lows off a reversal bar or candle not when an indicator says so. Some of the strongest moves happen when so called indicators are displaying overbought or oversold extremes and can stay there for quite a time.

Stay lucky.


;O)

I have finally got to the end of the course and have to say it was a good read.
This course (imho) is suitable for the beginner as well as seasoned trader. All you will need to know to give you a head start in trading is in there, but of course if you have the software you will be two steps ahead of the crowd so to speak.

If the initial outlay for the software is a problem ($1995) I suggest (imho) that you buy the course first to see what you are getting in advance?

I'm Thinking of giving the RT version a whizz once it has been running for a while to get the intraday set ups. If I do test it I will give you the run down once again.

STAY LUCKY AND KEEP WINNING.

RT is on the way.....