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I have never attended the Nexgen trade room. I don't know how they trade.
I have used the fibs on my charts in conjunction with geometry and they were certainly helpful but there is no way to quantify how much they have contributed to my success. I am expanding the number of products that I am trading and it's maxing the CPU usage on NT; consequently, I need to reduce the indicators I am using.
I never made any claims about Nexgen being profitable. I've never had a good enough reason to test their system.
All I can speak to is the validity of their fibs as a useful indicator.
Do the fib trend take orderflow in consideration? I mean supply and demand from time and sales data? Or how is fib trend calculated?
Have someone else used this tool and what do you guys have to say about it?
I´m not a big fan of technical analysis in general and wonder, is fibonacci a myth or is it useful? I did a test on my own a couple of months
ago and calculated some fib lines in corelation with liquidity and actually took some nice trades, but i dont know. My brain tells me it has nothing
to do with how the markets works. If it works it must be because people believe in those levels since far back? I think it´s an interesting topic.
So is Fibonacci a myth or does it work? Or maybe it works because it´s a myth?
I'm not sure what you mean by fib trend. Can you elaborate?
If you are using single fib values, I think it is really only useful if you're using it within proper Elliot Wave context.
With Nexgen's fibs, they have some many swings calculated in, that I think it kind of overrides the need for and Elliot Wave context to see more consistent and large rejections off the lines. That said, I still only used these in conjunction with Market Geometry.
If he hasn't sold it after two years I would be wondering why. I would also check with Nexgen that they allow licenses to be transferred otherwise they could cancel it when you try and change Ninja id/computer id and they ask why you have a different name/details to the person who bought it originally.
(Ninjatrader for instance don't allow their licenses to be sold on and their support on this forum have said before that they will cancel those that are).
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden