Profitable Patterns for Stock Trading

By: Larry Pesavento

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Product code: 13294
ISBN: 0934380473
161 pages
Format: Hb
Published by: Traders Press, 1999

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Profitable Patterns for Stock Trading - front page cover image

Description of Profitable Patterns for Stock Trading

Preface by Larry Pesavento

Over the past 20 years the use and misuse of the Fibonacci Summation series has proliferated to the point that commentators on the nation's TV business channels are now resident experts. I lay no claim to being an expert. I have, however, studied the subject of Fibonacci numbers extensively, especially how it relates to trading. I have always taken the pragmatic position that if I could not use what I was studying to help in trading, then I was not interested in pursuing it any further. If this material can stimulate your interest in the subject, then introducing you to the subject will have been worthwhile...

The pattern recognition methodology illustrated in the text will be of interest to anyone that has ever traded using technical charts. I can say with confidence that there are very few who have researched patterns to the extent I have. Some of the references date back to the early 1900s. Each of these patterns is based on ratio and proportion. A technical chart is nothing more than a road map with a price and time axis. These patterns repeat with a great deal of regularity. Some of my best students have been airline pilots. They seem to approach trading like they approach flying, following a flight plan. The similarities to trading are numerous.

Finally, one of my goals in writing this book is to expose you to the subject of ancient geometry. Fibonacci numbers are an integral part of the numbers that make up the subject of their origin in the cosmos. I will not spend a significant amount of time relating my experiences in astro-harmonics research. The subject is too vast for me to consider here. More importantly, it is not necessary for profitable trading.

Profitable Patterns for Stock Trading - Chapter headings

- Introduction
- Harmonic and Vibratory Numbers
- Geometrics of a Price Chart
- The Primary Patterns
- Classical Chart Patterns Using Ratio and Proportion
- Bonus Pattern: The Butterfly
- The Opening Price
- Entry Techniques
- It's Different this Time
- The Non Random Nature of Chaos Theory
- Appendices
- Description of the Garley ? Pattern
- Some Practical Tips on Cycles
- Some More Practical Tips on Cycles
- Additional Reading

Authobiography of Larry Pesavento

Larry Pesavento is a forty year veteran trader. He managed Drexel Burnham Lambert’s Commodity department and is a former member of the C.M.E., where he was a local in the S & P pit.

Larry has been a guest on FNN (now CNBC) and is the author of seven books on trading, he currently is a private trader for a large hedge fund. Larry uses a system of pattern recognition in his trading. This approach eliminates the random nature of market action.

Since 1985, his focus has been weighted heavily on NASDAQ stocks with special emphasis on Internet stocks. He has one of the most extensive trading libraries in the world, which he utilized in his personal training of over 300 traders in the past thirteen years.