Product Review: MTPredictor 6.0 by Jayanthi Gopalakrishnan
What differentiates a successful trader from an unsuccessful one is how he or she manages risk. We all want to make profits, but we want to do it by minimizing our losses. There are different ways you can implement such a concept into your trading system. The MTPredictor software, developed by Steve Griffiths, uses one such method, namely an approach to Elliott waves that is referred to as an “isolation approach.” What they mean by an isolation approach is that the focus is on simplified wave structures. You are not going to find some of the more complex aspects of Elliott waves such as alternate waves or irregular complex fourth waves here.
What the software basically does is identify trends using the simple Elliott five-wave patterns on a price chart and the a-b-c, three-wave, or zigzag correction.