Weinstein Trading and Fading

Robert, if you really want to be a trader then you need to take it seriously and start treat it as a business instead of a video game. Investing in a news feed would cost you maybe $500/yr and save you probably 50K given your history of getting in the way of frieght trains without even realizing it.

Btw, I posted some rules for you a few months ago. You consistently break each one. You should go back and read them.
 
DLTR is a highly speculative stock. With a bit of good trade management shorting can definitely be a great success. When such stocks reverse, they freakin butcher the buyers. Also it is good to short only when it looks the strongest.

EDIT: was shorting DECK today and made some money... same category.
 
Quote from trader#21:



EDIT: was shorting DECK today and made some money... same category.
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:D :D :D wiping ass backwards

if you'd gone long u'd made much more

Breakouts are widowmakers-just stay away from shorting em--inspite of all these claims of making money shorting em-much better to go with trend--no doubt they do pullback_ by the time they pullback the pain is too much and the original position is already closed.

Remember what Mark Douglas says about your mind being clouded when you have a position on you just want to justify your position even though objectively know you are wrong.
 
Quote from GG1972:
if you'd gone long u'd made much more
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the 'if' does not makes any sense at all. If that has been a reversal you'll be envying my lucky ass. I have been taking such trades from quiet some time and have the courage to talk about the bad ones.
Breakouts are widowmakers-just stay away from shorting em--inspite of all these claims of making money shorting em-much better to go with trend--no doubt they do pullback_ by the time they pullback the pain is too much and the original position is already closed.
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If you know trading a bit you will acknowledge that with proper trade management more money can be made on pullbacks than the average joe makes 'riding' the trend.
Remember what Mark Douglas says about your mind being clouded when you have a position on you just want to justify your position even though objectively know you are wrong.
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It's not about a clouded mind! it's about a defined system of taking trades :)
 
Traded well today and this week and I am pretty happy about that

This week was about trading only signals and as the week progressed I was on target and really making progress to getting it all back on track.
I would even go so far as to say that my discipline this week has been the best it has been in months and I even had a few lucky breaks (I don’t actually believe in luck) that made the week good.
On Wednesday night I took a look at the B8 signal in light of MIL on Monday (I didn’t trade it due to being out of the office “lucky”) and knew that I needed to have some type of method to filter for super large news breaking out during trading hours. I have been through them before and normally come out on top but why go for that type of ride if it is possible to avoid it. So I spent about 6 hours going over different methods of filtering that would not curve fit any more than 1% of other trades. Sometime around midnight I had what I thought would work. Little did I know that just two days later I would get my first test of my updates. NUVA had huge news come out and shot up about 40% within about 10 minutes. I received a short signal at 41.87 (HOD was 42.50) so that is about as much as I could ask for. I did sissy out though with my shorts. My first offer was at 42.08 and my next was at 42.61. Granted my signal calls for a closer spread in normal situations but these happen so rarely and with MIL very fresh in my mind I thought I may be looking at a 50% or higher gain peak before topping out and didn’t want to take on the risk to quickly. I did however widened out my gain target and more than made up for lack of shares based on a normal target. I took a gain of 2.22 which is one of my best and the whole thing lasted 2 and a half minutes from enter to exit. I was also pleased in how calm the whole process was for such a quick on the fly trade.
NUVA + 222
DLTR was a challenging stock the last few days. about a month ago I lowered the impact a gap has on the signal generator and as a result I ended up in DLTR at the high point of the move it made (had it gone one penny less the next bar would not have been qualified and I would not have entered for another 90 cents or so). This one thing changed it from being a very good trade into a loser but I am glad that I stuck to the plan and traded it correctly. I can’t get rid of losers but I can control how I handle the trades. I traded it back and forth today and then exited with a gain for the day but a loss for the overall trade. The only thing I could have really done much different is to have not lowered my risk by not taking stop losses but I am comfortable knowing this one was not going to blow up in face. + 23

INT gap up + 24

MHK was both a gap up and B8 + 128

+ 398
 
Quote from Robert Weinstein:

NUVA had huge news come out and shot up about 40% within about 10 minutes.
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Interesting Jess said he had no fear of NUVA halting while in the trade because of the news alraedy on the table. They just halted.
 
Quote from GG1972:

:D :D :D wiping ass backwards

if you'd gone long u'd made much more

Breakouts are widowmakers-just stay away from shorting em--inspite of all these claims of making money shorting em-much better to go with trend--no doubt they do pullback_ by the time they pullback the pain is too much and the original position is already closed.

Remember what Mark Douglas says about your mind being clouded when you have a position on you just want to justify your position even though objectively know you are wrong.
More...

I agree with you here. It took me most of my first two years of trading experience to finally grasp this concept of trend following. I've been sim trading CL (oil) for quite a while and had worked up a couple counter-trend strategies that worked well. Thing is I was scalping small moves for the most part. Today I put in play my trend-following strategy and in less than 2 hours had netted $10745. Later on I continued what I started for one more with-trend trade of 2422.50.

I never had a day like this trading CL in sim counter-trend. I do, however, have good counter-trend trades once the lower high/higher low have been put in.
 
Quote from NoDoji:

I agree with you here. It took me most of my first two years of trading experience to finally grasp this concept of trend following. I've been sim trading CL (oil) for quite a while and had worked up a couple counter-trend strategies that worked well. Thing is I was scalping small moves for the most part. Today I put in play my trend-following strategy and in less than 2 hours had netted $10745. Later on I continued what I started for one more with-trend trade of 2422.50.

I never had a day like this trading CL in sim counter-trend. I do, however, have good counter-trend trades once the lower high/higher low have been put in.
More...

ive been simming oil myself recently.
Been doing OK but mainly concentrating on reversals. Some of the 'reversals' could be called trend trades i guess, as they are in favour of the trend, like, buying a drop in an uptrend (both a 'reversal' trade and a 'trend following trade' at the same time i guess you could say)

Do you use indicators or price action to get you in a trend trade? Do you do like i mentioned above, and buy the pull back in an uptrend, or do you not play the breakout? (or something else)
cheers

Robert.
I've always been a fan of yours.
You've got balls like a Billy goat. I look forward to watching you rise from the ashes like lazarus.
 
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