Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Webinar: Larry Pesavento on Chart Geometry and Patterns
thanks Mike for having Larry presentation is always an inspiration listen him talking he goes true the point that is what we need as a trader and i do agree that mental preparation is the most important think i do like the 9 inch cycle thanks again for having many great speakers
Can you help answer these questions from other members on NexusFi?
Thanks Mike for making Larry's presentation possible and to Larry for sharing.
Thought the presentation was great and quite informative. Larry's passion and knowledge came through quite clearly.
Thought of this question after the fact. Why does Larry trade the EUD/$ vs the the G6e future contract? Cost, depth of market and or patterns are more reliable??
I have heard from all the winners and have sent the info to Larry. He will autograph the books and mail them back to me, and I will then mail them to their final destination. ETA ~3 weeks.
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009
great webinar,
using the tools available on nexusfi.com (formerly BMT),
and using the concept, as explained, that indicators are lagging, then with his presentation, and his charts displayed,
which indicator, that displays these basic fibs would you download and use, just to configure your charts in a similar fashion?
notice this style of relaxed trading, (please comment on your perceptions too),
waits until price approaches and either reverses or trades through those important levels of the fibs
also, certain actions are expected based on those fib levels, hence his reference to pulling your bets off the blackjack tables, which you can not do live in gambling (in contrast to speculation)
ok,
this should be interesting, and please post screen snapshot too
I took time to day to sign up for a trial of the Ensign Windows software and give it a go.
I haven't had time to look through much less figure out how to manage its icons and controls.
I did load the Pesavento fib patterns on an hourly chart and waited to see what would happen when ES price hit my 78.6 fib extension at 1578 on my daily chart. That coincided with the bottom of my down channel.
Interestingly, the software revealed the 1.272 fib alignment that showed up after the price was tagged and bounced. Larry said he primarily works with 1.272 and 1.618. I also noticed that .707s commonly came up in his displayed charts.
The secret sauce is setting up the swing cycles correctly to get these kinds of numbers. Ensign can do that automatically if you so chose based on your chart size.
Platform: "I trade, therefore, I AM!"; Theme Song: "Atomic Dog!"
Trading: EMD, 6J, ZB
Posts: 796 since Oct 2009
yes I was noticing that too, and the fact that their auto feature was vastly easier to manage than the standard processes in most charting packages including SC, and others too
for that reason it might be worthwhile considering your change too, but working within what we use, if that is ninja, then it would be interesting to see whether anyone else is noticing or solved that equation too
Fxgroundwork.com has already done it. There are other vendors like Wave 59, Motivewave and Autochartist, Harmonic Wave, Surinotes (I think) that have automated Gartley patterns. Why Ensign--because LP has incorporated his own software package with it. There are others.
Again, in is in how you set up the swing cycles and understand larger time frames of reference.
i have to agree with you i use ensign for years the software is not gone make you money now i just hand drow my lines and watch how re-acted at those levels
the signed copy of Larrys book, i asked him to wish me the most
important qualities a trader would need to get successful.
According to Larrys autograph, discipline and patience are the most important ones.
@Big Mike thank you for putting about 74 stamps on the envelope, that looks very nice.