The Goodman Swing Count System
The Goodman Swing Count System GSCS was developed by commodity trader Charles B. Goodman and used by him until his death in 1984. Michael D. Archer, whom he mentored, further developed the system. GSCS is a method for interpreting charts. You may use bar, swing, or point and figure bar charts are the easiest and most common. Like all chart interpretation techniques, it is not applicable to all charts all the time. Not every chart forms a pennant or a head and shoulders, and not every chart...
Peter Panholzer
One of the most respected names in the managed FOREX business is Peter Panholzer. Mr. Panholzer is the founder of Dynex Corp and commands the fees and account minimums that long-term success in the markets confer. See Figure 13.11. Source DynexCorp, Ltd, www.dynexcorp.com. A number of companies track individual and fund FOREX account performance.
Pugh Swing Chart Formations
This is a simple but effective method. The basic formations were identified by Burton Pugh, a famous grain trader of the 1930s and 1940s. There are only four basic chart formations Bull, Bear, Inside, and Outside. Highs and lows are always referenced to the previous data unit. See Figure 12.10. A Pugh formation is always in reference to the preceding formation's high and low. Higher high and higher low from preceding formation Lower low and lower high from preceding formation Higher high and...
Summary Kro
Just one more chapter before you are ready to at least get your feet wet with a mini- or micro-account. You need to understand thoroughly how the various basic FOREX calculations are made. You will want to know them so that they are second nature. The time you spend at the computer should be directed 100 to trading decisions, not trying to figure out how many pips equals 100 or what your leverage factor will be on a trade. Your goal here is to open a mini- or micro-account and get your feet...
The Nofri Congestion Phase Method
This simple but useful idea was presented by Eugene Nofri in Success in Commodities Success Publishing, 1975 . It is out of print but sometimes available on www.eBay.com or www.abebooks.com. Nofri was a floor trader in the corn market, but like most technical trading ideas this one is applicable to FOREX. There are 32 total formations, but the simplest one is to watch for two trading units when price goes up or down followed by two trading units when prices go down or up but remain inside the...