The Goodman Trading Methodology and the 6 & 6 Setup
Thursday, August 11, 2016 14:30 MDT » 16:30 EDT
Goodman Wave Theory was developed by trader Charles B. Goodman in the 1940s. It is based on 1-2-3 wavelets and three principles for how they interact in a predictive manner by forming trading setups.
The Principle of Propagation states that a 1-2-3 propagates into larger and larger 1-2-3s. The initial 1-2-3 becomes a '1' to a larger 1-2-3. Thus, the '4' swing in Elliott is actually connected to the propagated '1' swing and is a '2' swing in a larger 1-2-3. The Principle of Intersection details how these 1-2-3s and propagations combine to make the patterns the trader sees on a chart. The 3-C Principle helps refine propagations such that the trader enters only the best setups.
The 6 & 6 setup is the presenter's favorite Goodman setup. It is easy to identify, has an exceptional risk-to-reward ratio and occurs frequently in commodities, FOREX and stocks across all time-frames from 1-minute to 1-month.
The Goodman Method of Trading uses the GWT principles in an inductive fashion to qualify setups, going from the most general features to the most specific, narrowing down the possibilities and leading to only the highest probability trade candidates.
In his August 11th webinar Duane Archer will cover:
- The Principles of Goodman Wave Theory
- The Goodman Method of Trading
- The 6&6 Trade Setup
- Money Management, and more...
Handouts will be available during the webinar.
To review Goodman Wave Theory before the webinar visit: goodmanworks.com
About Our Speaker
Michael Duane Archer has been a commodity futures and FOREX participant for over 40 years.
>He has acted as a private trader, registered CTA and CPO, branch manager (Heinold of Hawaii) and SEC investment advisor.
As a CTA in the 1980s-1990s he managed USD 20 million in the commodity futures arena and compiled a 48% annual return with exceptionally low risk parameters and high Sharpe ratio, as documented in Managed Account Reports.
He has authored and co-authored several books including the popular "Getting Started in Currency Trading" (John Wiley & Sons, 2005, 2008, 2010, 2012).
Goodman Wave Theory, developed by trader extraordinaire Charles B. Goodman has been Archer's 'go-to' discretionary trading method. 'Charlie' taught his methods to Archer and to no one else.
Amount of historical data varies from 30 days to 14 years depending on the membership you choose.