Weinstein Trading and Fading

Good luck with your finals

I ve followed you a long time but I guess i missed the bad part. Small numbers now--what happened?

You used to post blowout numbers i remember

Anyways where do you stand for the year ?

Goodluck in future.

One journal that seems like a true traders journal with all the agony too written over it and the successes and struggles--whoever said it was easy? godspeed to you.

http://www.youtube.com/watch?v=VKE_3kXg7_c&feature=related
 
Hello Limit,

Thanks for taking the time to share your ideas.

SEED was called out in the chat room I am in.

I do find that I make a lot of money as a result of the chat room. I don't keep track but its well over $1k a month on average (factoring in the good and the bad)

I think picking a method, like the same stocks over and over is a great idea. i choose to use the very same setups (almost all my losses and all of my large losses are a result of discretionary trades or mistakes)

happy holidays to you and yours

Robert



Quote from limitupmike2:

robert,
a serious question.. how did you even find SEED?
a stock screener, a friend, a news article?

and is this how you find most of your stocks?


I have had success by trading from a list of 20 -30 stocks that are always the same 20 -30 stocks.. that way i get very comfortable with how they are going to act and react and i know when they are "out of line" which can be exploited to make good trades. Maybe this is the one thing you are doing incorrectly..

idea.. pick a few stocks based on .. excellent volume, and the volatility or "true range" DAILY that you like and make a list.. study the list going back for months on daily and weekly charts... get a feel for them man get a feel...

jack of all stocks and a master of none! i think this is exactly what you need..

master 20 stocks in different industries or sectors and you will always find an opportunity staring at you! Master these stocks and you will have the confidence get bigger size than you ever imagined
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Hello NoDoji,

Thanks !!

Yup, and now I have a better filter for stocks like SEED (I found out quickly and somewhat painfully that a mean average can really get skewed with a big outlier like what happened with the volume with SEED)

AIG was not based on a signal and while slow I do actually learn.....

Thanks

Robert



Quote from NoDoji:

Fading strong moves isn't, in and of itself, a poor strategy. Robert has demonstrated its profitability over long stretches of time.

IMHO, though, there are some fundamentals that need to be considered before choosing to fade a strong move as opposed to waiting for a lower high/higher low: the nature of the news, short interest, how far the stock's price is from all-time highs and from 52-week highs.

SEED, for example, gapped up on fundamentally excellent news.

USG from back in Sept had very high short interest.

When AIG first started its string of breakouts, you're looking at a stock that in 2008 traded near $1500 a share (split adjusted), plus the 20:1 split made the squeeze potential huge.
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Hello David,

yes I totally agree it takes years and I have found that every year I was better then all of the previous years. looking forward to next year.

Happy holidays to you and yours

Robert

Quote from trader_david:

robert,

thanks for your kind of acceptance

my wife just printed a trader's confession to me, she found it on the internet.

' I've been a full time trader since the 70's and I still pay too muh and sell too cheap. I' am better than a ATM

Seriously, until you've been in the business for years, in bull and bear markets, you do not know if you'll make it. 5 years is the the limitus test, but then again, I know 30year traders that went belly up last year. you're only as good as your last trade'.

when I look at Gold's opening price this morning, I was shocked to find it went up almost
20points again, I thought it will rest a while. that made my "hit sell button hands shake". glad I did not hold short GC dec (thought it will retrace to 1151~1149), I covered my short at 1158~1161.

but feel irristaable to short gold, peek it, then remove it, it is still going up, that makes me feel at loss what to do. gold's relentless rally makes me very nervous today, could not hit sell button to anything.
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Hello Walt,

Thanks for reading my journal and thanks for taking the time to make a post. I hope I never reach a point of not being willing to listen to new and better ideas.

Yes, totally agree with you. My screener is actually supposed to screen and / or adjust for volume and this one (SEED) found a defect in the model.


happy holidays to you and yours!!

Robert



Quote from jones247:

For what it's worth, it may be best to fade very liquid stocks with low volatility, while having a favorable r:r management strategy. Support/Resistance, either short-term (daily) or swing (weekly or monthly), may be the best bet for triggering entry points to fade.

Although a bit risky, it may be worthwhile to averge down (scale in) once or twice. Consistency, with a positive expectancy and good money mgmnt, will yeild favorable results in the long run...


Walt
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Back and forth with Amazon

Traded AMZN several times as I kept getting stopped out with a new signal. Unlike my normal fading trades this one uses tight stops intraday (signal still fades daily). I delayed in my entries and I kept very tight stop losses and so I missed out on much more but my risk level was low and with a stock priced like AMZN I was happy to keep the risk low. WWC + 33

UTIW gap up + 59

TM didnt do much and stopped out WWC -12

RMBS was the real frustration total. came within 1 cent of triggering daily but was well above intraday level so I chased it down but at least was able to get some out of it. later it came within 10 cents of an entry later in the day as well and then fell off a cliff in front of me. The second time it was not where I could chase it so I let it go. B8 + 43

PSS gap up + 178

PLCE stopped out WWC +1

PHG WWC + 24

PFG was a long fade that I bought a little above 23.50 but when it failed to continue above 24 I stopped out for a small gain. Later in the day as it was moving lower I went short looking to see if it would break to new lows as the day went on. B9 + 38 and the trend down for a total of + 101

All in all a pretty busy day and well worth it. Size in all trades was very small

+ 442
+ 1108 month
 
Hi GG,

Thanks, its sucking up a lot of my time thats for sure. hope to have them all done before the next weekend.

I found myself doing trades that I had no justification to be in and it was costing me money. So I pulled money out of my thought I would trade small again for a while. A couple of times I raised the share size and had to take a step back again. Next week Monday I plan on raising the size again provided this week finishes off well.

Have a great weekend and happy holidays!!!

Robert


Quote from GG1972:

Good luck with your finals

I ve followed you a long time but I guess i missed the bad part. Small numbers now--what happened?

You used to post blowout numbers i remember

Anyways where do you stand for the year ?

Goodluck in future.

One journal that seems like a true traders journal with all the agony too written over it and the successes and struggles--whoever said it was easy? godspeed to you.

http://www.youtube.com/watch?v=VKE_3kXg7_c&feature=related
More...
 
Good day to end the week with.

This one is going to be quick as my wrists are killing me from being on the mouse non stop (first the right and then I switched hands and used the left hand with the mouse until that started hurting too much as well)
RMBS gap up after B8, doubled the size of the trade and worked out well. + 155

STE oversold + 141
MRVL gap (closed early or would have made target) slow mover and didn’t seem to be making good progress towards target so closed out with a stop loss. +11

MAN overbought B8. This one went somewhat good. I had very few shares offered under 58 and most of my entry was just above 58 but below the HOD. did a little better than target. + 159

CAL new signal took a stop loss – 13
BIG gapup + 74

Was a pretty good day and a pretty good week. Will be stepping up size on Monday and we will see how that goes.

+ 529
+ 1637 Month
 
Today went by quickly

I was willing to increase my share size but for better or worse I was hitting the very tops of the shorts today.
NVDA gap up + 331
ASIA was a great gap up but only a few of my shares were lifted. Made full target though and quickly. + 59

NTRI gave an overbought signal and it turned into an ok trade. I was hoping to do much better but when it appeared that it was stuck or holding at 28 so I covered and turned flat. + 225

+ 616
+ 2253
 
doing some catch up

Its been a very busy week and I have been having some issues with my wrist so catching up now.

I took 16 credits this semester with five classes and so far it appears I have 3 As and one that is somewhere in the B+ to A range (depending on the curve but my best guess is an A-) and one that one that I have no idea as the final was a 10 page paper that I turned in today (went into the final with an A-/A but tough paper so I will have to wait and see) All in all pretty happy considering I also had my third son right at the start of the semester too.

I am really looking forward to moving forward with some setups now that I should have more time starting next week. I have already been starting to mentally get in the mindset of the new setups with 100-400 share lots and so far so good.

TLB +20
SAFM + 63
CLW + 103

+ 187
+ 2440 Month
 
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