I use MTP add on for NT for over 4 years with continous success. For me the best trading software together with Flux Capacitor from Back to the Future Trading. Both companies are very serious, good support and a lot of instruction videos. I know professional traders using MTP and BTTF daily for FDAX, CL, ES and GC
The following 2 users say Thank You to Ganymed for this post:
Glad to hear of your success Ganymed. I am new with MTP [looking to trade off the 3 & 5 minute charts] and found the DP trades very hard to be successful with. It seems it's so important to determine the larger degree trend [so I look at the 15 minute chart] yet there doesn't seem to be that much info about assessing that under all the different situations that the market creates day by day.
Of course they talk about going to a larger time frame and he refers to this lots on the Advanced blog, however I've found it inconclusive many many times....kind of depends on how far back you look on the larger degree chart...
I just stay away from the DP setups now. Any helpful thoughts?
I've tried for MTP Stand Alone application on trial bases long back. But as EW looks too greeky to me, I ended up with no positive results using it.
I do found such softwares as blackbox.Which looks good but practically u can not trade with it as the setups r dynamic. A trader needs static entry exits. Else nothing wrong in backtesting ur data with simple zigzag peak troughs.
And yeah , i do really doubt if any Prop traders r using it.
The following user says Thank You to Darshiit for this post:
I tried this last year, and the main issue I had was that the signals are constantly redrawn/vanishing (even after entering a trade). So there is no way to look at a chart and figure out what you would have done in the past (other than replaying perhaps). When I brought this up to them and asked for my cash back, the owner literally had a fit on the phone, though they did refund my money. They do have a nice way of looking at RR before entering a trade, which was one of the features that intrigued me to try it out. The other interesting item is that they look at Elliott in simplified terms, which basically means playing the big picture/high probability patterns, instead of trying to get a complete EW count.