Weinstein Trading and Fading
- Thread starter Robert Weinstein
- Start date
Did someone mentioned, money never sleeps?
That sounds kinda cheesy, consider that the saying came out of a Hollywood movie.
That sounds kinda cheesy, consider that the saying came out of a Hollywood movie.
Hi Oraclewizard,
Thanks. I agree totally with what you said. I would take it one step further perhaps and say that if you made money today or not you didn't make a mistake.
It seems like you have a very good head on your shoulders and you been recognize when your headed down the wrong path so you hit the breaks.
What can not be seen in my PnL today is that I found it to be a success. As you well pointed out we can have losses and if we keep them manageable we can end the month better than where we started it. Today was that for me. I traded HAR we I believe. I shorted into the moves higher and bought into the dips as this trade called for. I did move away a bit in afterhours by over covering what I would have liked to normally carry over but that was well thought out too. My goal is to scale out of this trade and then work on my trading/automation/and mental state until I feel I am ready to make a trade like a pilot would fly a 737 from one city to another (with lots of practice and a complete set of SOPs that are totally followed) until then I expect to keep most days flat
When I am done I will probably be able to recite Mark Douglas by heart ....LOL
Thanks OracleWizard
Robert
Thanks. I agree totally with what you said. I would take it one step further perhaps and say that if you made money today or not you didn't make a mistake.
It seems like you have a very good head on your shoulders and you been recognize when your headed down the wrong path so you hit the breaks.
What can not be seen in my PnL today is that I found it to be a success. As you well pointed out we can have losses and if we keep them manageable we can end the month better than where we started it. Today was that for me. I traded HAR we I believe. I shorted into the moves higher and bought into the dips as this trade called for. I did move away a bit in afterhours by over covering what I would have liked to normally carry over but that was well thought out too. My goal is to scale out of this trade and then work on my trading/automation/and mental state until I feel I am ready to make a trade like a pilot would fly a 737 from one city to another (with lots of practice and a complete set of SOPs that are totally followed) until then I expect to keep most days flat
When I am done I will probably be able to recite Mark Douglas by heart ....LOL
Thanks OracleWizard
Robert
I am unsure I understand but no need to be sorry. Your welcome to post so its all good
Best to you
Robert
Hey PA,
I hope things are going well for you.
I don't mean this to sound as argumentative as it sounds....
Money DOES sleep when sitting in IB overnight right now....LOL 0% interest
Robert
Hey Robert,
Things are going alright. I just got stopped out from my trade, but that's fine. I'll wait for another opportunity for a trade.
Those guys in Hollywood do not know what they are talking about. My money is sleeping as well, but they will wake up and work when I ask them to. My money is loyal to me and I do my best to protect them (even when it is a small account). lol
Take it easy my friend!
PA
http://www.youtube.com/watch?v=UQv1JBZ197Q
http://www.youtube.com/watch?v=hGgFWrV_M28&feature=related
http://www.youtube.com/watch?v=Ek0Pb72IPUc&feature=related
all of them are good shows but you have to :
1. beleive in it
2. be willing to put in the effort to CHANGE
3. be persistent with it.
GS short and keeps bouncing under 157 while I watch these again
http://www.youtube.com/watch?v=hGgFWrV_M28&feature=related
http://www.youtube.com/watch?v=Ek0Pb72IPUc&feature=related
all of them are good shows but you have to :
1. beleive in it
2. be willing to put in the effort to CHANGE
3. be persistent with it.
GS short and keeps bouncing under 157 while I watch these again
Quote from GG1972:
http://www.youtube.com/watch?v=UQv1JBZ197Q
http://www.youtube.com/watch?v=hGgFWrV_M28&feature=related
http://www.youtube.com/watch?v=Ek0Pb72IPUc&feature=related
all of them are good shows but you have to :
1. beleive in it
2. be willing to put in the effort to CHANGE
3. be persistent with it.
GS short and keeps bouncing under 157 while I watch these again
Hi GG,
Thanks, Great of you to to post the links. I have the one you provided earlier on my phone to be able to listen to it (in MP3)
Best to you with GS and your trading
Robert
Closed out HAR
Traded HAR a couple times and finally closed it out. Trade was a net loss over the trading days. The signal was good and I feel like I traded it with a C grade. I could have done better or worse. I didnât make money on it but if I am learning anything lately it is that I have to allow signals to lose to be able to end the year higher. + 163
WFMI traded poorly. I give myself a grade of D only because I did use stop losses in part. I donât like my entry or most of the trading with it today. This is a trade that is an example of executing bad habits and why changes need to be made. I was not able to get out totally before the end bell as I was trying to get out about 15 cents lower than it went but with seconds to go I became aggressive at getting out. I also lifted some offers in after hours to close out. As a result of this trade I also put an offer in with C at the offer in an attempt to totally flatten out. I will be leaving shortly and if needed I will hit the bid with C and the offer with WFMI as I totally flatten out. I expect that reprogramming my trading brain will begin shortly. between the last sentence and now I closed it out. â 1008
C closed out in afterhours while writing this entry. + 48
Now flat. I broke a rule today and so I flattened out and will spend my time working on getting back to where I was last year when I would not break rules and had success just about every day. When I figure that out I will begin trading again. In the mean time I expect to document what I do to get there.
- 780
Traded HAR a couple times and finally closed it out. Trade was a net loss over the trading days. The signal was good and I feel like I traded it with a C grade. I could have done better or worse. I didnât make money on it but if I am learning anything lately it is that I have to allow signals to lose to be able to end the year higher. + 163
WFMI traded poorly. I give myself a grade of D only because I did use stop losses in part. I donât like my entry or most of the trading with it today. This is a trade that is an example of executing bad habits and why changes need to be made. I was not able to get out totally before the end bell as I was trying to get out about 15 cents lower than it went but with seconds to go I became aggressive at getting out. I also lifted some offers in after hours to close out. As a result of this trade I also put an offer in with C at the offer in an attempt to totally flatten out. I will be leaving shortly and if needed I will hit the bid with C and the offer with WFMI as I totally flatten out. I expect that reprogramming my trading brain will begin shortly. between the last sentence and now I closed it out. â 1008
C closed out in afterhours while writing this entry. + 48
Now flat. I broke a rule today and so I flattened out and will spend my time working on getting back to where I was last year when I would not break rules and had success just about every day. When I figure that out I will begin trading again. In the mean time I expect to document what I do to get there.
- 780
Looking at WFMI for the past 5 days, every morning it may dip a tiny bit and then in runs up with no pullbacks. I assume you went short because it had a gap up and you thought it would close the gap. I also heard on CNBC that the shorts were trapped because they did not believe people would spend money on higher priced food. They then said that people like to use Whole Foods as a restaurant sub in that you can take food today. I have found that to be true although I like Gelson's salad bar better.
I woke up earlier and had a profitable day. However, I would have made more money if I was not so tired to realize on my 1st trade that I was on sim and not real money. Its not fun to do all the right things and have a profitable trade only to realize it was sim. 2nd trade was also a winner and in my real account, but I did not let it reach target since it was taking too long and like some on the es forum I agree afternoon was mostly chop however I see now on my charts that I could have done better by focusing on them than watching tv.
If you went short the gap, does your back testing show this strategy giving you a good win% and also are you able to determine with a stop when the strategy does not work and the stock reverts to prior behavior that it showed for the past week?
http://finance.yahoo.com/q/ta?s=WFMI&t=5d&l=on&z=m&q=l&p=&a=&c=
I woke up earlier and had a profitable day. However, I would have made more money if I was not so tired to realize on my 1st trade that I was on sim and not real money. Its not fun to do all the right things and have a profitable trade only to realize it was sim. 2nd trade was also a winner and in my real account, but I did not let it reach target since it was taking too long and like some on the es forum I agree afternoon was mostly chop however I see now on my charts that I could have done better by focusing on them than watching tv.
If you went short the gap, does your back testing show this strategy giving you a good win% and also are you able to determine with a stop when the strategy does not work and the stock reverts to prior behavior that it showed for the past week?
http://finance.yahoo.com/q/ta?s=WFMI&t=5d&l=on&z=m&q=l&p=&a=&c=