Weinstein Trading and Fading

Quote from stockboy201:

Hi Robert, great blogg you got going. I noticed in alot of your post you mention b6, DS, H, and GU? What do all these abbreviations mean? GU, is gap up?.
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Hello Stockboy201,

They are what I call my setups so I can go back and look at trades and know why I entered into the trade.

Yes, GU is the only one that is obvious and its for gaping up stocks.

Best of trading to you

RW
 
woke early today to see how my large overnight was trading if at all and the overall market.

market opened slightly up to flat. No pre-market trading with JAH which was disappointing and surprising. I traded JAH back and forth for much of the day. while doing so I scaled out a large amount of the shares.

I carried over RYL JAH and TIF

JAH - 3704 Carrying over until Monday. This has been a real challendge

TIF + 380

RYL Carry over from yesterday and carry over until Monday

I did get some nice trades today. some that where real perfect setups. NUAN was a good example of having one thrown my way. On the other hand I had so many trades goin5539+g at once that several I just walked away from about breakeven when they didnt perform as expected.

Having up to nine trades plus options experation day made for a lot of stress. Not to mention that JAH went againt me in the afternoon.

I am going to get exercised and end up short 400 shares NFLX so I sold 4 May 47.50 puts to cover my short @ 3.38

NUAN B6+, 2761

LAMR B6,+ 1924

OMG B6, H, + 126

NFLX 50 calls exp + 593

NFLX 47.50 calls exp + 295

USO 20 calls exp + 188

MR B6, Carry over until Monday

GES B6, + 31

FIS DS, News(LPS), + 304

BBT B6,H, + 2591

MTH B6, H, + 44

SM H, B6, + 3

+ 5539 Day (different than blotter as a result of option gains being manually added in for options that exp today)

+ 20734 Week
 

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Quote from mikea59:

I have been considering moving to Tradestation - seems to be the grandaddy of online brokers. Can you share some of the concerns you have with the product. My issue is the cost. I'm not a full time trader and there may be months where I do virtually no trading. I don't like paying $100/mo for doing nothing.

Thanks,
Mike
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Hello Mike,

I use Tradestation for charting and scanning and it does a pretty good job. I use Interactive brokers for trade execution as IB has very low rates and a good short list.

I think for most people not being a full time trader and still trading is a mistake. there is a very big edge in trading by having the most information and to be on the other side of that edge seems scarry to me.

You could read my blog and follow my swing trades or someone else that you relate to and probably be much better off at the end of the year.

If your reason for trading is not gains but rather the enjoyment of making trades then of course it doesn't matter and you may want to pick one of the big brokers that doesn't charge you for being idle for long periods (although you will pay a lot more when you do trade)

Best of trading to you

RW
 
Market started out lower with the majors pointing to a lower open

That was fine by me as I held several shorts over the weekend. JAH was very underwater and I did not want to turn it into a long swing trade. so I started to scale out pretty quickely and it appears a little too quickly as it kept going lower as the day went on. I could have exited with a small gain but I am glad to be out.

JAH - 7607

RYL + 753

MR + 550

I had very few trades today as expected with the market trading lower.

PBG DS, + 71

CTRP B6H, + 215

- 6016 Day
 

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I was able to make a few bucks trying to trade the HSI last night. I kept getting stopped out before any run up would happen. I felt the HSI was oversold as it was down more than the other Asian markets and the US market at the time was trading even to slightly higher. The good news is that the stops where to protect gains but its still never fun to get stopped out.

Not much in terms of signals today and didnt expect much as the market was down yesterday and off to a slow start today.

I did do some scalping today which is a change. Its beeen a few weeks since I entered and worked a trade to be able to scalp it.

MAN B6 unqual, + 279

QLGC DS, B6, + 1339

WU DS, + 1040

COH GU, + 738

WFT DS, + 92

+ 3490 Day
 

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Todays open was uneventful until I could no longer short PFCB and then things became bad really fast.

I started out the day shorting a couple of gapping stocks. PFCB and IR and while they where both great my broker (IB) ran out of shares for me to borrow against PFCB and I watched it peak without me. At least they both ended up being profitable but PFCB was about 1/3 as good as it could have been. I also didn’t enjoy waiting it out with PFCB but at least it didn’t make me wait long.

Early on in the day I received a lot of short signals which usually means the market is moving up as a whole pretty fast. When I looked at the DOW it didn’t appear to have moved up much and I felt that the market as a whole was not participating in the rally.

PFCB GU, + 555

IR GU, + 712

Lots of other short signals today. I reached a point where I turned some of them off so I could focus on the very best. All in all a kick ass day. I was a bit upset at IB for not having any shares of LTM for me to short as it would have been a good one but otherwise things went well all day after the open was complete.

WMS B6, H,+ 3124

WAB H, +207

OSK H, B6, + 452

GYMB H, B6, + 301

TKLC B6, H, + 255

VMW B6, + 267

TUP B6, + 99

SCHN B6+, H, + 219

PLCE B6, H, + 1479

NTAP B6, h, + 667

JEF, B6, H, SC, + 628

IR B6, H, + 724

IP B6, H, +420

COH, B6, H, 1057

+ 10463 Day
 

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A look inside one of my trades today.

I was asked via PM about my COH trade today and how I could find a short signal in it.

The best part of using IB for a broker is that you can actually get paid to add liquidity to the ECNs and you can see some of the commissions are actually negative charges.

If you add it up the gain is about + 1057 for the trade.
 

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Quote from dontevergiveup:

wait... i use ib is unbundled pricing the way to go? i been using bundled and i thought this was the cheapest.
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That would depend on how you place your orders. Are you a liquidity provider or taker?

I add liquidity in over 95% of my trades and so its worth it to me. If you also as much as me then its a no brainer. The thing is that most people are not 95% of either way but somewhere in the middle. So the course of action is to take a spreadsheet to it and crunch the numbers.

One other factor is the volume of shares per month. I get a lower price for the stocks over 300K in the month. the first 300K I pay .0035 i think and 300,001 and more i play .002 which allows you to pay little or nothing or even get payd if you add liquidity to an ECN

I hope that helps

RW
 
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