Lines, Spreads, and Momentum
Saturday, June 7, 2014 09:00 MDT » 11:00 EDT
Our guest speaker for the June 7th Denver Trading Group meeting is Leonard Novy from Palm Springs, California. His presentation will show how to use three trading tools:
1. LINE DRAWINGS
NTM PROJECTION LINES. There will be a history of line projections and how these lines were able to catch the bottom of the 2008-2009 bear market crash. There will also be displays of how to apply line drawing to intraday charts for day traders.
2. The VALUE SPREAD
One of the hot topics in the social media is the separation of wealth in America. This value spread has served as a barometer of economic heath versus the elevated pricing of the stock market supported by prolonged record low interest rates. We will explore the best analytical tool to measure the strength of the economy versus the strength of the stock market.
3. AN INTRODUCTION TO MOMENTUM TRADING
For day traders using a few concepts from Novy Market Flow.
If you live near Denver, attend this educational forum live on June 7th
About Our Speaker
The Master Teacher meets the Silver Fox...
It was as a teacher in the late 1970s that Leonard began to teach Frank Jost Jr., esteemed senior member and floor trader at the Chicago Board of Trade, how to play the classic guitar.
Frank had been trading on the floor for 50 years. He had also been the Wheat Pit Manager for Dean Witter Reynolds for 25 years. Frank's father had also been a member and floor trader, at the Chicago Board of Trade well before the year 1900. Frank placed a wheat chart on Leonard's music stand and for several years after that, they exchanged lessons and developed a lifelong friendship.
Frank began showing Leonard the dynamics of the markets and his proprietary style of trading, while Leonard began teaching Frank the subtleties of music thru the classic guitar. During this time Leonard began attending courses on commodities offered at the Chicago Board of Trade, the Chicago Mercantile Exchange and Loyola University. It was more of a formal education in commodities, financials, hedging, agriculture and technical trading. Traders who were members of the exchange conducted several of these courses. Along with this formal training at the Exchanges and the input of Frank Jost Jr., there were many hours of self-study at the Chicago Board of Trade and Chicago Mercantile Exchange libraries.
Frank would frequently invite Leonard to the floor of the Exchange, and after the closing bell they would have lunch at the Sign of the Trader, a local restaurant at the Exchange. It was there that Leonard met many of Frank's long time friends who were among the world's largest grain pit floor traders and brokers. Frank had silver hair and they called him the "Silver Fox". These were the founding fathers of the exchange, known as "the old guard". The conversations and collective experiences of these professional traders at the round table lunches left an indelible impression on Leonard. What he learned was that all of these traders had one thing in common. They loved the markets. Making money was secondary to the game. It was more of a by-product of what they loved to do.
Leonard had opened a small trading account and caught a profitable move on hisfirst trade in a 1980 T-bill futures contract. In 1981, Leonard became a broker and because of his experience level with trading along with his formal training background at the commodity exchanges was soon asked to write a weekly column about financials, currencies and metals futures. His column was published in a magazine called Consensus that was a compendium of market analysis from many of the analysts of the major brokerage firms in the industry.
SPECIAL NOVY MARKET FLOW SEMINAR ON JUNE 8, 2014
(Note: Leonard Novy will be offering his $2,000 Novy Principles of Market Flow seminar on Sunday, June 8th for a discounted price of only $250. Details and registration link are as follows.)
On Sunday, June 8th, Leonard Novy will conduct a special full day presentation of NOVY MARKET FLOW. The entire 8 week course will be presented in a one day seminar. Attendees will receive their own personal set of NTM Basics Lesson Modules
What is particularly remarkable about his work, is that it reveals how every move and turn in the market, has a functional purpose. It is this understanding of how markets function, that facilitates and affects the confidence and psychology of a trader. His Lesson Modules are clearly understandable, ever enlightening, and a constant source of reference. His creations "Novy Market Flow" and the "Gates of Confirmation" are ingenious integrations of Price and Time both structurally simple and sophisticated.
This is the complete $2000 course depicting every aspect of Novy Market Flow. The special scholarship tuition for the both members and non members of the Denver Trading Group for the full day course will be $250. The room is booked and seating is limited. Here is the scholarship link for registration.
Amount of historical data varies from 30 days to 14 years depending on the membership you choose.