wow ... u're up so early?
may i call u now?
may i call u now?
Record of my Trades
- Thread starter Robert Weinstein
- Start date
i can't get a cheap air ticket during chinese new year ... from jpn to mps route ... the tickets all fully booked ... maybe u & yr family can fly over to visit me ... i know u & them will like asia
I missed buying back some EXM premarket at 48.46 by about one minute. My experience has been that this is common for them to move in my direction strongly so I thought this one would be falling today.
most of the premarket trades that I watched pointed to a lower open as then happened below the close yesterday by about 50 cents or more (close 49.50 )
I also believe that if they do open higher they tend to spike and then fall. With that thought I shorted some more on the open. What I didnt expect was that EXM would rise another 8+% within the first hour. So I started to do some damage control and fire off some stop losses right about the high of the move....LOL
Here are the trades
S 1 49.63
S 1 50.00
S 1 50.11
S 1 51.26
stop losses kicked in at
L 53.01
L 54.04
L 54.27
16 short @ ave 48.84
S VCLK @ 24.09
S:6b+
most of the premarket trades that I watched pointed to a lower open as then happened below the close yesterday by about 50 cents or more (close 49.50 )
I also believe that if they do open higher they tend to spike and then fall. With that thought I shorted some more on the open. What I didnt expect was that EXM would rise another 8+% within the first hour. So I started to do some damage control and fire off some stop losses right about the high of the move....LOL
Here are the trades
S 1 49.63
S 1 50.00
S 1 50.11
S 1 51.26
stop losses kicked in at
L 53.01
L 54.04
L 54.27
16 short @ ave 48.84
S VCLK @ 24.09
S:6b+
tough day. gave up a lot this month. I will be back at it in full force tomorrow. I did gain a better understanding of my signals and how to improve them to avoid these types of drawdowns. (interesting how a big down day will make you study your homework a little extra)
I had two trades that I closed on
The VCLK short + 25
and EXM which continued in the morning to go up. Had my account size allowed I would have been able to fade it through the climb and actually make money today. I look forward to having those limitations gone.
open -1174
- 6947 for the day
- 6052 for the week
+ 2686 for the month
I had two trades that I closed on
The VCLK short + 25
and EXM which continued in the morning to go up. Had my account size allowed I would have been able to fade it through the climb and actually make money today. I look forward to having those limitations gone.
open -1174
- 6947 for the day
- 6052 for the week
+ 2686 for the month
Quote from bubble gum:
i can't get a cheap air ticket during chinese new year ... from jpn to mps route ... the tickets all fully booked ... maybe u & yr family can fly over to visit me ... i know u & them will like asia
Hey Sam,
sorry I couldnt talk on the phone today. very tough day as you can see by my results. One problem after another which led to multiple mistakes. Good learning day though (expensive but good). after about six hours of programming and then backtesting I am happy to say that today will be much harder to repeat.
out EXM
I did trade it back and forth and scalped out a little bit to lower the loss.
spent a lot of time reflecting and programming the system to avoid shorting a stock that is oversold. EXM gave me another 'view' of a weakspot in the signals. Had to backtest to ensure the changes would not take away any of the past trades and I was happy to find that it did not take any away even after the first run through. (did change the level of the signal for stocks that have been oversold though. In fact EXM gave an oversold signal two or three days before so it not one to be shorted in the first place on the day that I entered. The next day was a very good day to short it and would have done very well.
yesterday ended my winning streak but its a mixed bag as I spent a lot of time looking at past trades and was able to make some adjustments to the rules that I think will ensure higher profits while lowering risk going forward.
- 1905 for the trade (EXM)
on a better note I shorted 2 JCG at 47.18
covered at 46.41
S:6b+
+ 154 for the trade
I did trade it back and forth and scalped out a little bit to lower the loss.
spent a lot of time reflecting and programming the system to avoid shorting a stock that is oversold. EXM gave me another 'view' of a weakspot in the signals. Had to backtest to ensure the changes would not take away any of the past trades and I was happy to find that it did not take any away even after the first run through. (did change the level of the signal for stocks that have been oversold though. In fact EXM gave an oversold signal two or three days before so it not one to be shorted in the first place on the day that I entered. The next day was a very good day to short it and would have done very well.
yesterday ended my winning streak but its a mixed bag as I spent a lot of time looking at past trades and was able to make some adjustments to the rules that I think will ensure higher profits while lowering risk going forward.
- 1905 for the trade (EXM)
on a better note I shorted 2 JCG at 47.18
covered at 46.41
S:6b+
+ 154 for the trade
S 5 ABH Dec 22.5 calls @ 1.85
stock was not available to short with IB so I wrote the calls.
stock was not available to short with IB so I wrote the calls.
just three trades today. closing out of EXM which at one time did try lower today. after opening in the 56.50 range and going over 57 I bought back in the 54.25 range.
IB is reporting the P/L wrong as
did well with the JCG trade
open ABH options 0 (I was last trade about two minutes before the close and my ask was hit between the Bid/ask)
-1754 for the day
-7803 for the week
+932 for the month
3.3 % ROE for the month
IB is reporting the P/L wrong as
did well with the JCG trade
open ABH options 0 (I was last trade about two minutes before the close and my ask was hit between the Bid/ask)
-1754 for the day
-7803 for the week
+932 for the month
3.3 % ROE for the month
b ... expensive tuition fee huh?
i personally had made profit more than $100,000 within 6 months but loss it all plus my investment of $70,000 in a month. Very painful lesson ... stop~loss is so important ... when we'd made a wrong decision, we must admit our mistake andchop it off right away. Quote from bubble gum:
b ... expensive tuition fee huh?
BG,
Yes I agree. Even though I still felt I was correct (and was actually) I did kick in the stop losses.
I was up for the month and Friday I did place my next trade and did well. I will be setting up another monitor as that was part of the problem as well. I also will not be posting on C2 anymore as that caused my to be rushing wednesday morning as well. I can't say that posting there made the difference but I surely can't say that it had no effect. I try posting about 5 or 6 trades on there and on IB with three getting hit.(two were profitable)
I have to think that if I would not have been trying to do that many things at once I "MAY" have not made the mistake reading the chart.
So basically it was a misread of the chart due to my rush to entry (three entries entered into IB within about two minutes) and not seeing the error until after the close of the day. Then it gapped against me in the morning and I actually traded/scalped my losses down by a lot.
So having another monitor along with a go/no go "showme" added to the short term bar in TS I think will change this outcome in the future. The interesting thing is that the signals were valid, it was my entries and exits that I used (or tried to use in the case of the exits) that were at the wrong amounts. If I entered them in at the correct amounts this big lose changes to a small win on wednesday, a another win on Thursday.
as bad as that was I can still feel good about my ROE of 3% for the month and I look forward to next month.
Biggest lesson of course is not to rush into entries. : o )