June 2012
Beginner
420 pages
10h 19m
English
book
Getting Started in Currency Trading, + Companion Website: Winning in Today's Market, 4th Edition
by Michael Duane Archer
Content preview from Getting Started in Currency Trading, + Companion Website: Winning in Today's Market, 4th Edition
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Chapter 18
The Propagation Trade Setup
Introduction
In this chapter and the next one, I show the Goodman Method at work using one of the most popular formations in Goodman Wave Theory (GWT), the propagation trade setup, or PTS. This walkthrough will allow you to learn not only a practical application of GWT that is easy to apply, but see the Goodman techniques and concepts for money management in action as well.
Goodman Wave Theory offers three trade setups. The return setup is easy to learn and master. It is an ideal complement with other trading methods. The Goodman 3-D setup uses all aspects of GWT. It can be very precise, but takes considerable time to learn and apply correctly. The propagation trade setup sits between the return and 3-D. It is relatively easy to master, the formation is plentiful at all time frames, and the serious student can dig very deep into it.
The PTS
The propagation trade setup has proven to be the most popular setup for most Goodman traders.
While the PTS accesses the three primary principles of Goodman Wave Theory, propagation, intersection, and 3-C, it relies most heavily on the principle of propagation.
PTS Time Frames
Tip: Thus far, you have been working with only a single time frame. The PTS will give you an idea of how analysis of multiple time frames for the same currency pair is accomplished.
Three time frames are used for the propagation trade setup. Do not worry, most of the work is done on the time frame you have selected as your trading ...
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O’Reilly covers everything we've got, with content to help us build a world-class technology community, upgrade the capabilities and competencies of our teams, and improve overall team performance as well as their engagement.Julian F.
I wanted to learn C and C++, but it didn't click for me until I picked up an O'Reilly book. When I went on the O’Reilly platform, I was astonished to find all the books there, plus live events and sandboxes so you could play around with the technology.Addison B.
I’ve been on the O’Reilly platform for more than eight years. I use a couple of learning platforms, but I'm on O'Reilly more than anybody else. When you're there, you start learning. I'm never disappointed.Amir M.
I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.