Guy Copen's Flag-Trader customers are only too happy to tell him when things are going well – especially when they are going very well indeed.
We've heard from Richie before. But just to demonstrate that his previous success was not a flash in the pan he has provided an update on the progress of his trading bank.
Starting early this year with £5,000 his trading bank now stands at £19,000. That's a 300% increase in less than a year.
Word for word, this is what Richie has to say in his message to Guy:
A quick update on where I am at present. I had been fairly quiet until a couple of weeks ago when I entered 4 nice looking flags these took a while to take off but are doing nicely at present.
LVS: Entered @ 11.90. Taken profits and still riding down.
THO: Entered @ 18. 57. Taken profits and still in with partial position.
WBC: Entered @ 20.85. This was a slow burner but over the last few days has moved nicely into profit not far to go now for first profit target.
IOC: Entered @ 9.41. Another slow burner still not quite in profit but going in the right direction and have tightened my stop up.
Last Monday I did a search on flag trader and I found just 4 lovely looking patterns and these are the results:
HOG: entered @ 23.90. Profits taken and still riding down no pun intended!!
ENR: entered @ 56.20. Again a beauty, first profit target hit today may have to exit due to earnings
REG: Entered @ 39.17. First profit target hit and still in the trade
PII: Entered @ 29.11. Approaching first profit target
To anyone who is finding it a challenge just keep with it because this has to be the most powerful method I have seen in 20 years and probably one of the most simple.
My starting bank was £5,000 and it now stands at £19,000 using just 3% of my capital per trade.
Regards and thanks again
The interesting thing I found was Richie's comment that he had been '..fairly quite..' until recently. In other words the software was not delivering potential trades because of the conditions in the market. So he didn't go hunting for trades – just left it alone until the good prospects started appearing again, just as Guy has been advising recently.