Approach to Trading with MTNTF7 and MTDS

1 - Level of support and instruction...Detailed in our legally obligated disclaimers 

Trading and investment carry a high level of risk, and MicroTrends Ltd does not make any recommendations for buying or selling any financial instruments. We offer educational information on ways to use our sophisticated MicroTrends trading tools, but it is up to our customers and other readers to make their own trading and investment decisions or to consult with a registered investment advisor.

So all we can legally do is assist with the technical operation of the software - not provide trading settings or other items which are trading/investment advice. But....i will provide an insight on how to approach things - as used in professional fund management in the context of MT tech.

We are not mentors or trading coaches but this information is more than enough for someone to chose the correct path - but requires further reading and studying or experience - and also Historical data - as well as the ability to be structured and make statistics etc

MTNTF7
MTNTF7 does work out the box exactly in the way it is intended - it is a toolset of many - simple discreet systems and offers complex - aggregation of signals and systems. It is not a buy, take it our the box and switch on- any market any dataseries with and forget - sit back while you collect...

Fear and Greed
Note: No system ever invented will work the whole time - MTNTF7 - is not advertised as Black Box - turn key - turn on and reap profits systems
1. If it was - with over 1000 users it would soon stop working that way...
2. People would switch if off during a drawdown as they have not done the work to believe in the system
3. Best settings are a fallacy - if you call a tailor for a suit - only by measuring and altering can it be supplied to fit you - settings are provided to show features only - the trader must elect what works for them or they will not be able to trade it - what works for one trader might not work for another
4. MTNTF7 is a toolset - provided for skilled or new traders -who wish to discover and use a system that works for them in the way they chose. It allows a trader to assemble their own systems from 1 or many signals and time series without coding.
5. For a trader perhaps 80% of all they look at will not work for them and out of the 20% maybe only a 10% of that is within capital or other sets suitable to the trader - its a process of elimination - it can only be undertaken by the trader to locate their settings and strategy- its mode of usage- formulate a trade plan and put it in to action.

Expectations
Expectations - and these can be an issue for traders who want a for example 3000USD per month from 10000USD monthly...
instead of a trading toolset which is the MTNTF7- it sounds like you want a private ATM machine you can pay a tiny amount of $ for and it will churn away and make you 30 to 50% on a tiny amount of capital per month with no effort..
That software does not exist - if it did you would pay 100K per month for it - and then sniffing algo's would render it useless after a period if you traded any size through it.

Yes it is possible if you are exceptional - and think and find an edge not in use by too many others....

Simply MTNTF7 is suite of classic and proprietary tools in the right hands are working out the box... if you know what and how... -that part is your quest and your side - There are many paths and many styles of trading supported by it. It requires active usage and learning -and an approach and guidance is the key to a shorter or longer journey.

Ideally you need to think of the software - as a car which you collect from a factory - it is down to the driver to learn how to use it.
Our role is like the pit crew- where we can offer settings/alterations to allow the vehicle to handle in the way the driver wants.
The driver has to know what and how they will/think they should trade and chose a system - to provide that.

As detailed at the outset it can take many months even years even for a trader to learn how to trade and use it in a live context - the direct benefit of this is that they have the knowledge and therefore can trade with it and understand how many losers, drawdown and negative behaviors - as well as what price cycles and market conditions are favourable to it. You get out what you put in and its only limited by imagination and capital.

The idea that any business /trading would provide someone income per month with little knowledge or learning is not realistic - its not a real expectation- it takes many years and a structured approach -

For MTNTF7:
Install
https://microtrends.zendesk.com/entries/59955435-How-to-install-or-update-MicroTrends-NinjaTrader-Framework-7-into-NinjaTrader-7

FORUM
https://microtrends.zendesk.com/forums/227844-MicroTrends-NinjaTrader-Framework

Strucutured Approach
1. You have to start with signals indicators - understand how they work and set up your manual trading system using them or the other types of indicator: https://microtrends.zendesk.com/entries/59737249-Getting-Started-with-MicroTrends-NinjaTrader-Framework-Signals-Indicators
2. Then strategies to power or consolidate the signals: - see what works in the context of #1 or spend time researching and testing
https://microtrends.zendesk.com/entries/53195949-Getting-started-with-MicroTrends-NinjaTrader-Framework-Strategies
3. Backtest and optimise 2 to 3 systems on 5 markets - store the results and settings - understand when a system is losing and when it is winning - use that if you want to control when to use the system or to add filters that enable trading in better conditions etc
4. Test settings dataseries and results from the backtest/optimisers on a chart and understand it will it appeal can you trade it - go over 3000 to 7000 days of trades and enter and heck each one on the chart - talk out the trades, entry ,stop, target- list them in excel and see the in depth information - to program your mind to trade and believe or reject it - compare the results to a backtest.
5. Go sim realtime - make your trade plan - trade and assess weekly- go over every sinlge trade, order and trade management - check results againts a backtest for the same period - compare - note... plan to adjust and test or continue
6. When you are ready to trade live - you can decide on your Launch control and how you chose to trade live base on other factors - sim models, drawdowns,losuig runs... and other factors such as cot report, open interest, eco news, interest rates, sovereign debt...seasonal, higher time frame analysis external to the program or decide if you are happy to allow it to trader 24/7...
7. be prepared to test that for 3 to 12 months and decide to go live
8. Control... Start with 0.5% per trade or lower and increase as you go... later consider non correlated diversification...instruments and systems -learn about portfolio balancing and control

MTNTF7 Discretionary
Open the workspace "MT FX Mutliple TimeFrame Analysis"
Data required.
10 years daily
120 days minute
120 days tick

For Forex trading or other... for
Higher time frame analysis + bounce,break and fakeout -session open trading methods.
See here:
http://blog.microtrends.co/2015/06/components-for-discretionary-rules-over-a-mechanical-session-open-breakout-system/

MTDS
MTDS - offers a simpliflied a programming SDK and also some out the box strategies which may well be simpler for you to grasp and learn how to trade with and or code/program your own- offer many advantage.

INTRO to MTDS
https://microtrends.zendesk.com/entries/81497979-MTDS-New-User-Orientation

Quick Start - Auto
For someone who wants to get started in FX really quickly i have put together some guidance here
http://blog.microtrends.co/2015/05/mtds-session-open-range-trader-quick-start-for-forex-automated-trading/

For how to control the usage of the system please see here:
http://blog.microtrends.co/2015/06/components-for-discretionary-rules-over-a-mechanical-session-open-breakout-system/

Please use version 7.0.1.16
http://downloads.microtrends.co/MTDoubleShotStrategyFoundation/7.0.1.16/MTDoubleShotStrategyFoundation-Setup.exe

MTDS Forum
https://microtrends.zendesk.com/forums/21696122-MT-Double-Shot-Strategy-Foundation

Some Suggested READING LIST
Market Wizards, Updated: Interviews With Top Traders
Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders:
Mechanical Trading Systems: Pairing Trader Psychology with Technical Analysis (Wiley Trading)

MicroTrends Support
support@microtrends.co
http://www.microtrends.co/support/

Tip! You can visit the help desk forum to see previous answered frequently asked questions:
http://microtrends.zendesk.com/forums