Weinstein Trading and Fading

great journal there Bob.

i've read this journal for a while but not every posts.

if i'm not wrong your method is some kind of averaging (or scaling in). generally i think you did great but also have pretty big down day occasionally.

i guess this has something to do with averaging on super trending days..and do you just accept them as a drawback of the method?

thanks..and what a great come back last month!!!
 
Quote from glwatts:

Congrats on another great day. The way you stick to your system even when things are going poorly is an inspiration.

What system did you use / how did you backtest your system? Did you have to test one stock at a time or did you have a set-up that allowed you to test an entire basket?

Thanks,
gl
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Hello glwatts,

Thanks very much for your kind words and for taking the time to make a post. It for sure was a tough month last month with the hits I took along with trading with the flu. Glad we are in a new month and I am feeling better

I use what is many would call a mean reversion system or what I call pivot trend reversal.

I back test currently with a program called stockfinder.com and I do it manually one by one. Its not uncommon for me to spend a whole day on a saturday or sunday and backtest a theory from morning until night.

I think I have gained a lot of understanding in price action by manually looking at each trade.

I hope that answers your questions and feel free to ask any follow ups if you like

Best of trading to you as well !!

RW
 
Quote from fishing:

great journal there Bob.

i've read this journal for a while but not every posts.

if i'm not wrong your method is some kind of averaging (or scaling in). generally i think you did great but also have pretty big down day occasionally.

i guess this has something to do with averaging on super trending days..and do you just accept them as a drawback of the method?

thanks..and what a great come back last month!!!
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Hello Fishing,

Thanks for saying so and I enjoy writting about my day.

Yes, I almost always scale into most of my trades. I am working with a gap up setup that I have at times not scaled in but for my everyday trading I always scale in.

"i guess this has something to do with averaging on super trending days..and do you just accept them as a drawback of the method?" I am not totally sure what your question is but if I do understand correctly the answer is that I scale into trades as a method of risk management.

Thanks for the kind words about last month. It was a real rollar coaster of of ride. In the end I came a lot closer to BE than I thought I would when at the bottom.

Now if I can avoid the land mines this month I should have a pretty good month.

I wish you good trading and have a great weekend


Respectfully,

RW
 
"i guess this has something to do with averaging on super trending days..and do you just accept them as a drawback of the method?" I am not totally sure what your question is but if I do understand correctly the answer is that I scale into trades as a method of risk management.
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what i meant is this, on strong trending days the method of scaling in would be a bit too risky..so do you try to avoid those days or just expect those big drawdowns as a drawback of the method?

i used to do a lot of scaling in before..and used to have high percentage of green days but got hit as well once in a while. it's quite painful psychologically for me so i stopped.

thanks and good trading to you too.
 
Quote from 7rader:

great trading day robert, keep it up!
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Hello 7rader

THANKS for taking the time to post and say so.

I can assure you that I will try to keep the momentum up.

Best to you and your trading as well !!

Respectfully,

RW
 
I went into the office with high expectations as the SnP was up in premarket trading.

RIMM reported good earnings and was up over 20% in premarket trading. With less than five minutes before the opening bell I took a short trade with RIMM with a price of 61.07. within a minute of putting the trade on RIMM started falling and I was actually adjusting my bids to cover down and RIMM moved down so fast that my highest bid was hit before I could move it. I moved the rest of the shares down to just over 60 and within a short time at the open the bids where hit and I was out.

I have some appointments today so I will be leaving early today. I will miss about the last hour of trading. As I write this I have five trades going on and I leave in an hour and a half. Hope to have the trades closed out by the time I leave but not I will have my laptop with me and the sprint card which works pretty well.

RIMM GU + 1024

DAI GU + 368

CLR H, + 734

ICE DS + 57

NoDoji a person in my chat room was nice enough to point out GEOY. I tried to enter the symbol into Tradestation and it said it was an incorrect symbol. Very strange but I put it up on bestfreecharts.com and saw that it was a good short.

GEOY H, + 7 but still short shares that I am carrying over the weekend

V B6, + 230

HP H, B6+ 4 But still short shares that I am carrying over the weekend.

NSM B6+, H+ 20

SKT H, + 190

HXM H, + 356

+ 2994 Day

+ 22113 Week
 

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