Over the weekend I shared two Spike Trade setups with ETFs: SPY and GDX.
Today April 4th we have seen them both get filled.
The SPY spike filled about 80% of the way and the rule we follow with these trade setups is that if 80% of a spike target is reached we aggressively take profits and manage the position. I will be creating a mini course/trading guide on how I trade the Price Spike trades so those of you who trade them or want to learn how to trade them can with incredible accuracy. Having a firm grasp of what to expect with each trade and how to manage each position is critical if you want to make a lot of money with these.
Having a firm grasp of what to expect with each trade and how to manage positions is critical if you want to make a lot of money with these. You must know the basics like knowing the intraday times of day to be looking to locking in profits or tightening stops.
Like today for example with SPY: Target was about 80% filled today right at 11am ET. Members of my newsletter know (if they watched my short educational video on this in the members area) that 11am is the reversal time of the day. If markets are falling we should expect a bounce. Knowing this allows us to lock in gains on SPY right at the 80% fill level moments before the market bounce.
All SIMPLE STUFF but you if you don’t know these things trading will be a struggle for as long as you trade I can assure you that.
IMPORTANT NOTE: Price spike trades are not the types of trades are extremely valuable and an added bonus for subscribers of my newsletter. But the OFFICIAL REAL trades are swing trades and long term investing signals for paid subscribers. Most swing trades can be entered 1-3 days after a trade alert at the same or better price than that of the alert, this is not fast paced trading.
