Normal
weird,The constant similarities between MTPredictor and AGET are because Steve, the developer of MTP worked with Tom Joseph, the developer of AGET. He left to make a simpler approach to the setups and MTP was born.The basis of their approach is, and dare I say it here, simple. They look for a pre-defined pullback within a strong trend. We could substitute the TS2 for any number of patterns, such as a micro triangle ala' Curtis Arnold, and get the same outcome. There is no secret to TS2 nor any other pattern for that matter, MTP simply take comfort from it because it suits them. What they really promote is the positive expectancy created from a low risk setup. When you have a win rate, such as theirs, near 35%, you need to run the winners out past 3R. That's it in a nutshell.What is being said in these pages is that the psychological application of trading is what is difficult, if not impossible for the majority. My opinion on this, as stated in my book, is that we're brought up to be right in anything we do. Having a 35% strike rate goes against everything our schooling taught us. I believe that the vast majority of traders fail because they (a) do not understand this concept and always look for a better way, better being higher win rate, and (b) they risk too much of their capital.I think it prudent that we all learn as much as we can about what we're attempting to do although I do think there is point at which comfort/payoff becomes inefficient. However, its also easier for me to say that because of personal experience which is what ASX_G is alluding to above.
weird,
The constant similarities between MTPredictor and AGET are because Steve, the developer of MTP worked with Tom Joseph, the developer of AGET. He left to make a simpler approach to the setups and MTP was born.
The basis of their approach is, and dare I say it here, simple. They look for a pre-defined pullback within a strong trend. We could substitute the TS2 for any number of patterns, such as a micro triangle ala' Curtis Arnold, and get the same outcome. There is no secret to TS2 nor any other pattern for that matter, MTP simply take comfort from it because it suits them. What they really promote is the positive expectancy created from a low risk setup. When you have a win rate, such as theirs, near 35%, you need to run the winners out past 3R. That's it in a nutshell.
What is being said in these pages is that the psychological application of trading is what is difficult, if not impossible for the majority. My opinion on this, as stated in my book, is that we're brought up to be right in anything we do. Having a 35% strike rate goes against everything our schooling taught us. I believe that the vast majority of traders fail because they (a) do not understand this concept and always look for a better way, better being higher win rate, and (b) they risk too much of their capital.
I think it prudent that we all learn as much as we can about what we're attempting to do although I do think there is point at which comfort/payoff becomes inefficient. However, its also easier for me to say that because of personal experience which is what ASX_G is alluding to above.
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