Oops Trades

This would be a good time to remind folks about the all day Short Term Trading Seminar we have coming up in the Elite Trader chat room this weekend. You can view a complete list of what will be covered at:

http://www.elitetrader.com/ch/index.cfm

One of the guests will indeed be Jeff Semmell, on the topic of Profiting from Extremes in Crowd Psychology, Ooops Trading. Jeff Semmell is the President of TradingScans.com, and an affiliate company of ET sponser, Trading From Main Street.

And yep, we post logs after the chat.

André
 
One of the guests will indeed be Jeff Semmell, on the topic of Profiting from Extremes in Crowd Psychology, Ooops Trading. Jeff Semmell is the President of TradingScans.com, and an affiliate company of ET sponser, Trading From Main Street.
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Hopefully your guests' responses will be more detailed, from the trader's point of view. The last couple of interviewees were vague and seemed indifferent in their answers to specific trading questions.
 
Quote from spreadem:

Hopefully your guests' responses will be more detailed, from the trader's point of view. The last couple of interviewees were vague and seemed indifferent in their answers to specific trading questions.
More...


I will answer any questions to the best of my ability. I do have a few statistics and techniques about this setup that I keep confidential and proprietary, but basically the trade is explained in the education area of the website.

Jeff
 
WATCH LIST for MONDAY:
OOPS longs:
AFCI
AMGN
AMZN
AWE
CMVT
DCLK
LVLT
OOPS shorts:
AGEN
SWING longs:
AMX
CB
CYH
JNY
SWING shorts:
ISPH

In anticipation of TradingScans coming to life as a paid service soon, I will within the next few days be limiting the information presented in this thread but will be setting up a mailing list to e-mail this and other information to interested parties. Please send me your address if you wish to be included in this list. I promise not to spam your address and will maintain its confidentiality. Once the service becomes available for a fee I will send out to each subscriber further information about the techniques I use in analyzing the scans.

I thank you very much for your interest in, and kind words about, TradingScans.com


reminder: a complete analysis of prior watch list stocks is at:

http://home.cfl.rr.com/tradingscans/nightly.htm

good trading

jEFF
 
I have tried several times to read your updates (from the link to another site) on oops trades, but frankly it requires more effort than I am willing to expend. Do you have the trades listed in a spreadsheet format anywhere which would make it easier to follow the entry, exit, profit/loss, days held, drawdown, et cetera?

And, can you give a summary of the performance of the oops trades you have listed - winners/losers, % profit per week/month, et cetera?
 
I am working towards automating the process but have not as yet completed the work. What I have done to date does show an approximate 70% success rate in achieving at least 1% or more gains in the first day using 30 minute rules. I haven't added the code yet to take into account activity past the initial day which is where it appears to be the area where the majority of the larger gains are made.

This task in general is also quite difficult due to the maney money management styles that can be incorporated ( incremental selling, adding to positions at trap points, carrying over winners only, etc).

In a nutshell - I'm still working on it part of my time, but I have been spending more of my time on swing trading, now that the markets are in an uptrend for the first time in years (and oops trading seems to work best in market extremes).
 
Many thanks to those who chose to give up their saturday and listen to us here at the EliteTrader Chat. And thanks to so many of you who had kind words about my presentation. I'm sorry we had web problems, caused by the instantaneous overload of so many of you looking at my site. The website's traffic parameters were triggered and the site went down. It came back again Sunday morning and those problems should be fixed now.



WATCH LIST for tomorrow:
OOPS longs:
CREE
JCOM
AVID
LTXX
OOPS shorts:
none
SWING longs:
ALGN
AMX
CYH
DVN
SWING shorts:
none
 
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