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Do you happen to know the web address of the
company that teaches this methodology? I did a web search and wasnt able to find
it.
Thanks,
Sean
<BLOCKQUOTE
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=MikeSuesserott@xxxxxxxxxxx
href="mailto:MikeSuesserott@xxxxxxxxxxx";>MikeSuesserott@xxxxxxxxxxx
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Saturday, October 26, 2002 5:11
PM
Subject: [RT] A Wolfe Wave
Hi John,yes, I do use Wolfe Waves in my trading,
though not exclusively. In thebeginning, trading Wolfe Waves requires a
certain leap of faith because thepattern is inherently counter-trend;
you're trying to buy the local low orsell the local high - the #5 point.
There are two things I do to handle thisexposure safely. For one thing, I
wait for prices to go past the 1-3-5 line(a little); when they bounce back
in the intended direction, only then Iwould enter. And secondly, I always
use a tight stop.With these provisions, trading Wolfe Waves can be
quite a pleasantexperience. Surprisingly often you do sell tops and buy
bottoms, and with nomore risk than you would have in following trends.
Usually the trade willreach breakeven quite quickly, and you can then
watch it unfold from ariskless position.It is true that Bill
Wolfe's correspondence course is a bit pricey. Youmight start test trading
the pattern as described in Linda Raschke's book,and you should do fine.
But Bill does give a number of very helpful hintsplus some additional
refinements; I can truthfully say I don't regret havingtaken his course.
It gives a valuable methodology and also a very unusualperspective on
trading.Best regards,Michael Suesserott>
-----Ursprungliche Nachricht-----> Von: jdfo
[mailto:jdo1@xxxxxxxxx]> Gesendet: Saturday, October 26, 2002
13:56> An: realtraders@xxxxxxxxxxxxxxx> Betreff: Re: [RT] A
Wolfe Wave>>>
Michael,>> Like any system,I would
assume the Wolfe wave makes money> when it works.> But, when it
fails, what is your downside, in general? Do you actively> trade
the Wolfe Wave and if so, what is your overall experience.>
Was your> $2,500 course with Bill Wolfe worth the
expense?> Thanks for your
reply,> John
O.>>>>> ----- Original Message
-----> From: <MikeSuesserott@xxxxxxxxxxx>> To:
<realtraders@xxxxxxxxxxxxxxx>> Sent: Friday, October 25, 2002
1:56 PM> Subject: [RT] A Wolfe Wave>>> > Hello
all,> >> > I am receiving a number of private emails
asking how I determined the #1> > point of that Wolfe Wave. All I
can say is that this was done> according to> > Bill Wolfe's
teachings. I took his correspondence course some> four or five>
> years ago, and still am under non-disclosure as to the details of
the> > setups.> >> > You may see a similar #1
point at> >
www.wolfewave.com/a_wolfewave_on_a_weekly_stock_chart.htm> >>
> Best regards,> >> > Michael
SuesserottTo
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