MTPredictor | Definitions of Terms used
This page contains Definitions of the terms used on this website
Isolation Approach™ to Elliott Wave
Our unique isolation approach looks at the various Elliott Wave patterns in isolation. In other words, they do not rely on any previous patterns to determine any current wave structure.
Wave labels - not changing mid-trade
This means that when you are in a trade, the wave count will not change unless you are stopped out. If this happens, the software will re-evaluate any new data and then reasses the wave structure. this can mean that as new data arrives there is a new wave structure present. For example, the Trading Course covers how a Wave C can turn into a Wave 3 as the Typical Wave C Wave price Target (WPT) is exceeded.
This means that if you are stopped out, it will be a small, controlled 1R loss (-1R). This is where Position Sizing is vital. Losses can and do happen - this is part of trading. But if you return to the trade that was stopped out, the wave count will be the same at that point as when you entered the trade. This is what we mean by wave labels not changing mid-trade because as long as you are in the current trade (not stopped out), the pattern on which you entered will stay the same as at the point of entry.
Conflicting patterns
MTPredictor automatically finds only one Elliott wave pattern at any time. We do not deal in alternate wave counts, which we believe tends to cause confusion.
Also, we only deal with the most common and most reliable wave counts. We do not deal with complex corrections, because we believe (as the name suggests) they are complex, unreliable and should be avoided.
Conflicting timeframes
We suggest you manage the trade on the same timeframe as the trade was entered. This avoids confusion with multiple time frames.
Multiple timeframe analysis is taught as part of our Advanced techniques
Risk Disclaimer and Disclosure Statement
Trade at your own risk. The information provided here is of the nature of a general comment only and neither purports nor intends to be, specific trading advice. It has been prepared without regard to any particular person's investment objectives, financial situation and particular needs. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action. Past performance does not guarantee future results. Simulated performance results contain inherent limitations. Unlike actual performance records the results may under or over compensate for such factors such as lack of liquidity. No representation is being made that any account will or is likely to achieve profits or losses to those shown. By purchasing the MTPredictor program, you acknowledge and accept that all trading decisions are your own sole responsibility, and MTPredictor Ltd, MTPredictor.com or anybody associated with MTPredictor Ltd including S. E. Griffiths and A. P. Beckwith cannot be held responsible for any losses that are incurred as a result.
All trades shown on this web site are hypothetical, they were not executed. There are just shown for illustration and training purposes only.
U.S. Government Required Disclaimer - Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL, OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE DISCUSSED WITHIN THIS SITE, SUPPORT AND TEXTS. OUR COURSE(S), PRODUCTS AND SERVICES SHOULD BE USED AS LEARNING AIDS ONLY AND SHOULD NOT BE USED TO INVEST REAL MONEY. IF YOU DECIDE TO INVEST REAL MONEY, ALL TRADING DECISIONS SHOULD BE YOUR OWN
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