New GFT Foresight AI service - any comments?

It appears GFT has now included ALL 13 forex pairs for the price of $500 instead of having to purchase them individually for $500 each. I guess it isn't selling as well for them as they hoped.

I have to say, after opening my account with GFT a month ago, they have continued to give me this signal for free as a demo. Day after day I watch it and there can be no doubt that whatever mechanism is behind it is 'on to something'. The correlation between the signal and the price action is real.

That being said, the loosness and slop in the signal makes it VERY difficult to trade. It throws me off more often then it leads me in the correct direction. It is confounding, fascinating and useless. They offer a class, but you have to fly to some airport hotel and drop some serious money to take it.

I'm sticking to my own methods and doing fine.

true true...

I would like to make a few comments on this post to see if I can shed some light on the subject, but first:

1) I am not forming any bias towards anyone else and would appreciate if you would do the same for me.
2) I do not represent GFT or have any professional affiliation with them, other than being a client and lastly,
3) I am a trader by profession – I do not teach and I do not assist in the efforts of others interested in learning this complex career as it is much too distracting. I am presenting this information simply to assist in people whom are using Foresight to increase their chances for success.

Foresight A.I was designed by Larry Pesavento of Tucson, Arizona. It was intended to compliment several existing strategies and should never be used alone. I spent three days with Mr. Pesavento in Phoenix January 29th through February 1st for his seminar sponsored by GFT. I have been to roughly a dozen other similar seminars, but this is the first one that I felt offered a sophisticated, multi-stage analysis covering A to Z and everything in between. The seminar was particularly useful because he discusses the principles behind several patterns and Fib ratios with the highest probability for triumph that directly correlate with Foresight. The patterns he teaches to recognize and the Fib ratios that are associated with them can be found in his book “Fibonacci Ratios with Pattern Recognition.” All though you may find detailed information on his primary patterns, both the Gartley “222” and Gartley Butterfly Extension, on the web, I suggest you pick up his book if you wish to pursue Foresight. Foresight, being a timing tool, is the last step of his analysis. It must compliment the steps taken prior to entry. Most important, the inversion, while a nuisance, is easily detectable as the patterns should always show completion before using the timing tool. For instance, if a pattern has completed and is showing the market is due for a correction and Foresight is indicating that this point is a high/low for that trend, then you simply have double confirmation prior to entry. Additionally, and this is crucial, check other correlating currencies to see if a pattern exists that also compliments your analysis. I trade the 1) Eur/USD 2) GBP/USD (Both correlate by 90%) and the 3) USD/CHF 4) USD/JPY (both correlate by 90%). While 1 and 2 correlate with each other, and 3 and 4 correlate with each other, 1 and 2 move inversely to 3 and 4. Quite simply, you would never go long on 1 and 3 or 2 and 4, etc. The trades would simply cancel each other out.

So:

1) If a pattern is showing a correction, you have single confirmation.
2) If a second correlating currency is showing a correction, you have double confirmation. For example: Eur/USD is showing a pattern completion as is the GBP/USD, meaning a bullish correction, you have double confirmation.
3) If Foresight is showing that the corrections timing is also correct, you would then of course have triple confirmation.
4) If the inversely moving currency pair(s) is/are showing an inversed correction, you now have four confirmations enabling a higher probability for a successful trade.

Pesavento made Foresight to compliment these patterns. That is why I am mentioning this. These patterns increase your probability for success in a major way. I can not show my trading results because doing so would flout my contract with the Commodity Pool that I manage, but I am confident to say that this systematic approach should enable 7 out of 10 successful trades – and the few that you lose, you should be losing very little as the account management doesn’t allow for large losses.

I am open for questions or comment if anyone wishes…

What you say makes sense. However, if I need to cross-correlate a signal 7 ways to Sunday before I trade it, then it isn't worth $500 / month to me.

This signal is sloppy. The turnarounds can be HOURS off and for the first few hours, it can be made to fit market action either as given or inverted. I ended up spending much more time checking my other trading techniques looking for direction than I spent checking Forsight for timing or anything else.

It is worth about as much to me as a moving average, and those are free.

All that matters is that you recognize what works well for you and what doesn't. There really isn't much more to it than that. I wish you well on your ventures.

I'm very curious to know if you trade with this signal on a regular basis. I've seen the video, read what the salesmen wrote and tried to trade with it for a few weeks. I just couldn't find the value.

I opened a GFT account for the sole purpose of using this indicator. That's how optimistic I was. Now I'm very close to closing the account. did I miss something?

I had been trading using the same multi-stage analysis techniques for a long time which accolade Pesavento's strategies better than 80%. And why not - these techniques have been around for years. Though finding these steps on the Net or elsewhere seems to be difficult to find these days since everyone is trying to find something new that works. The old stuff works just fine. Buffet and Cohen use the same methods. Anyway, I had been quite successful over the years without Foresight...

GFT was very clever when it came to Foresight. The true nature of the indicator really works hand in hand with Pesavento's techniques because, well, he designed it to do just that. It is almost as if you need to spend the $2500 to learn his methods in order for Foresight to work for you. After going to Phoenix, I decided to throw the indicator onto my account and see what happens. To be quite honest, without knowing Pesavento's trading methodology, I can see how simple it is to experience obscurity trading with this tool. However, after knowing Pesavento's methodology and adding a few tweaks to my current strategies, my success rate has improved - not dramatically, but more than enough to pay the $500 per month and then some. Personally, I feel that it would be prudent for GFT to release Pesavento's methodology in tremendous detail in order to assist with this product. Trading, in general, is not about entering after a simple EMA crossover of course. Prior to entering into a contract, a trader must use multiple steps that compliment one another. The more steps that are added the higher chances for success. Foresight is an added step for my methods, which again, correlates with Pesavento's rather well. Perhaps that is why it works for me.

The seminar in Phoenix was a little rusty. It was their third seminar with Pesavento and they still had some bugs to work out. It was also an advanced course, so beginners would have difficulty learning his methods. It may take upwards of three months for a beginner to really catch on. There were a few novices and I personally have been in touch with two of them because I understood the material without much problem. I was able to guide them in the correct bearing. They seem to be taking onto it quite well now.

A few pointers. Foresight's indicator may be off by as much as an hour, though the trends seem to line up quite well. I have noticed that Foresight seems to indicate a trend reversal quite close to the typical signs that you would find in generally acceptable candle patterns. In particular, and in order of importance:

1) Tweezers
2) Doji
3) Shooting stars
4) Hammers and Hanging Men

Follow the existing trend and, if Foresight is indicating a reversal, look for these. They are invaluable in Foresight's success. Also, wait for the candle to complete, allow one more candle to form and complete to verify the reversal, then enter. This strategy alone would make a tremendous difference in your profit:loss ratio. I would still recommend buying "Fibonacci Ratios with Pattern Recognition." It's about the closest thing you can get to Pesavento's methodology without dishing out the $2500 to learn it from him directly. It's an awful lot of money.

If these patterns are at the end of a Gartley or Gartley Butterfly, or even a simple ABCD pattern, AND Foresight is also indicating the trend reversal you’ve got yourself an entry.

Make sense? If you have more questions, I’d be glad to assist however I can…

sorry I,m new
Did somebody come across pyrapoint indicator made for mt4?
Thanks.