Be a Proactive Trader

The Goodman Method is composed of three elements: a trading method -- Goodman Wave Theory; a money management scheme -- the dagger, waltz, and line; and a way of tracking the markets and adhering to the market process -- the proactive trader.

The trading method or the money management scheme may not appeal to you, and that is fine. There is more than one way to skin the FOREX cat. But being a proactive trader is a must-do no matter what method you use to seek your currency trading fortune.

"If you do not look, you will not see" is the essence of being proactive.
Charlie was disdainful of traders who came to the brokerage house and just stared at the quote boards and the charts -- especially the charts. "They are not proactive with the charts," he would comment.

The Proactive Trader
By Michael Duane Archer
Michael Duane Archer has been an active futures and FOREX trader for more than 35 years. He has worked in various advisory capacities, notably as a commodity trading advisor, registered SEC investment advisor, and branch manager for Heinold of Hawaii. He currently trades FOREX and futures and is involved in several technical analysis research projects.

Copyrighted 2016. Content published with author's permission.

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