Quote from Robert Weinstein:
Increased size a bit and took a hit
REV gapped up this morning and I tried to fade it and it never retraced until it then later on gave a overbought signal. The actual overbought signal turned out to be fine but it was too late and more importantly Interactive brokers didnât have shares for me to short. I did start to cover some at a loss during its one and only retracement and that actually lowered my total loss. REV moved back up and I covered most of the rest near 14.55. some thing of note, the daily MAs really donât offer much support for the trade to begin with and in dollar amounts the gap was not that big either so I will be backtesting to see if this requires a change in requirements or this was just one of those I have to take with the good ones. My biggest frustration was the lack of shares though as others in the chatroom where able to short.
- 6115
EWBC was much like REV in that it moved up a lot today but the trade worked out well for me. This was a gap up trade as well.
+ 345
TRW was an trade based on being overbought. I am still short and carrying over until tomorrow. I made a mistake in size and corrected it with one trade near breakeven. I expect to be in pretty good shape with this tomorrow and its possible I could end up covering some in AH as I left my bids live.
+ 1
RSH was a gap up trade that I stop loss exited with. It actually met my target but I was looking to see if it would give more and when it didnt and when back up I exited out.
+ 19
So it was a setback today but not great compared to how I have done in the past 7 weeks.
- 5749
- 2442 Month
Quote from trader_david:
shorted some from IB today at 15.23 REV with 3kshares, REV is really way too much. will fall.
now it is shortable! will lbe loose quickly
Quote from plan:
Ok I understand your day now, you're a reversion to the mean trader so of course trend days are going to be the hardest.
You might want to add an early warning system for trend days to your system. Not perfect but might help you with the big drawdowns.
Good journal.
Quote from oraclewizard77:
Probably he did nothing wrong assuming he honored his stops and is profitable over the year, there is no way to win 100% of the time.
Most people don't post their losses so it may seem like everyone here makes money, its not true.
Also, remember, he decided to increase size today and sometimes you just get unlucky since if he had been doing the same size throughout the month, his loss for the month would have been less.
Quote from Robert Weinstein:
Nice short. i looked at it also when it went above 15 today but IB was showing only 15K shares available to short which seemed like a very small amount compared to others when I check. Also the traded float is so small that I did not get to excited to jump in that one again. Seems like the same 200 shares are just going back and forth. So I took a pass
Quote from plan:
I like your style, good solid head you have.
You're one of these guys one can have faith in that even if one strat ends up losing edge over time, he'll come up with another, and always stay ahead of the game.
Good work.