A new SpikeTrade member from Holland has asked us to forward his email to Max L, a long-term member. We gladly forward such message - but this one seemed interesting for the entire group, and so we asked Willem for a permission to post it here, which he allowed us to do:
I am a new member who is motivated and stunned by the ideas and smartness of this group.
Dear Max L,
Congratulations and thanks for the tip. I sat in all the way through over the target. Over 30% profit.
In this picture I confirm what you saw fit.
And add own observations. Yyour target was modest.
Interesting was also:
Weekly the reversal (head shoulder head, upside down)
Daily 2 break out signals EMA10-26 crossing, plus breaking out the envelope on the pre-last day.
Hope this is not the last you try.
Best regards,
Willem K.
Hi Willem,
ReplyDeleteThanks for the comments. I agree that my target was modest. But, I try not to trade as aggressively with the spike pick as I would personally. I tend to have a little looser stop loss (just trade smaller quantities).
Also, when selling - I really like Kerry Loovern's method, i.e., sell a partial position at the +1 ATR and then more at the +2 ATR. Finally, the balance can be sold either at the upper range of the trading range or use a trailing stop.
Happy trading!