 Program background
Introduction to the software by Steve Griffiths, MTPredictor™
developer
Ever since starting in the financial markets over 18 years ago, I have
seen and tested an enormous number of trading approaches and software
programs. However, as the years passed I became increasingly frustrated
at not finding a program to provide me with the simple tools
to identify and manage tradable opportunities.
Many software analysis programs were good at offering hundreds of different
tools or techniques to apply to the markets. But the result always seemed
to be a screen filled with lines and indicators. More often than not,
they would give conflicting information. My involvement in the UK with
both Advanced GET™ and Dynamic Trader finally convinced me that
the components of the software I needed to achieve my trading aims were
available...but not in one program! I could find nothing to enable trade
identification, risk analysis, position-sizing, trade management and support
advanced strategies simply and quickly.
Experience has taught me that the best opportunities arise from trading
in the direction of the main trend. So, the first step must be
to identify the end of a correction against the main trend. Again from
experience, I know that the highest probability and (more importantly)
the easiest correction to identify is the simple abc correction.
But I could not find any software that allowed me to identify quickly
the most likely areas for these abc corrections to end.
So I decided to develop a program that, with a few quick mouse clicks,
would identify these price areas. These would represent support and resistance
areas...but not just any support and resistance - they were specific
to identifying the end of a correction in an established trend. They are
the ideal place to start looking for a trade set-up.
Once these support and resistance areas were displayed on-screen, the
next step was to develop a simple method that would enable trade entry.
Again, there are many trading approaches available, but used alone they
lacked the reliability I sought.
However, combining some specific trade entry techniques that signaled
a trade only if a market was at these specific support or resistance
levels, the approach became more reliable. This formed the basis of the
MTPredictor trade set-ups.
Then came the problem of trying to find these ideal trade
set-ups. This was a particular difficulty when trading stocks. Up till
then, I had to perform all analysis on individual markets. This was a
laborious and time-consuming task, which let many great trades slip through
the net.
That is how the MTPredictor software program came into existence, as
a way to identify quickly and simply the most reliable trade set-ups without
the confusion associated with many of the other technical approaches and
programs I had test-driven.
The Trade Scanner, especially, makes searching a whole folder of stocks
or commodities a simple task, allowing me to look at and analyze numerous
charts for set-ups very quickly. This gives me a shortlist of only the
very best trade set-ups to consider either for the day or within the day.
There was no excuse for missing an ideal trade set-up again !
Please take the Guided Tour and
have a look though the Examples section, where you will see how simple
the MTPredictor software program makes the identification of low risk/high
return tradable opportunities. All that's needed are a chain of mouse
clicks and all the essential set-up and risk/reward information is presented
in a clear graphical format on-screen.
Thank you
Steve Griffiths
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