Quote from TheAngryHermit:
Nice job avoiding the loss, Bob.
Hey Hermit
Thanks. Crazy day thats for sure.
Happy Holidays to you !!
Robert
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Weinstein Trading and Fading
- Thread starter Robert Weinstein
- Start date
Hey Hermit
Thanks. Crazy day thats for sure.
Happy Holidays to you !!
Robert
Quote from AC3:
Nice steady month .....
Thanks AC3,
I would agree. Even intraday swings have been mostly small. I am still not trading full size on all trades but the month has been good and this year appears to be turning out to be pretty good as well.
Happy Holidays to you and yours!!
Robert
Fun day today. Was able to trade a new signal in full size today and while it gave me a roller coaster of a ride it was also my best trade of the day. FSYS became a lot thinner than expected and so I cut back on size after about half way through the day and didn't get aggressive on my second chance at it but I am still all in all happy with it.
Its a little past midday and so far its been pretty good.
Lots of stop outs. I am trading my new signal called WW and variants of it and as of right now its been alright. I have been testing WW with 100-300 share lots but today I put some size on one trade. That one turned out to be a little bit of a ride to start out as it came within two cents of being stopped out (not the best way to start out with a âreal oneâ).
THS WWTL +48
CYN WWTL + 174
CSIQ WWTL +8
HITK WWTL +47
SNDK WWTL + 2 and I am holding a few shares overnight short.
FSYS WW this was one edge of the seat trade. brand new signal (fully tested but first with real size) and it came within 2 cents of being stopped out. +201
I ended up closing out SNDK in afterhours for a net total of +17 (I put some bids in at a gain and if they were hit I was fine and if I held I was fine )
I did not add more or sell any C
+ 498 Day
+ 5336 Month
Its a little past midday and so far its been pretty good.
Lots of stop outs. I am trading my new signal called WW and variants of it and as of right now its been alright. I have been testing WW with 100-300 share lots but today I put some size on one trade. That one turned out to be a little bit of a ride to start out as it came within two cents of being stopped out (not the best way to start out with a âreal oneâ).
THS WWTL +48
CYN WWTL + 174
CSIQ WWTL +8
HITK WWTL +47
SNDK WWTL + 2 and I am holding a few shares overnight short.
FSYS WW this was one edge of the seat trade. brand new signal (fully tested but first with real size) and it came within 2 cents of being stopped out. +201
I ended up closing out SNDK in afterhours for a net total of +17 (I put some bids in at a gain and if they were hit I was fine and if I held I was fine )
I did not add more or sell any C
+ 498 Day
+ 5336 Month
Busy day today
I was up nicely for much of the day. I made a calculation error with JBL (actually one or two errors). One unfortunately was the entry (the entry could actually go either way and so I pulled the trigger) and another more important and clear error was when I received a stoploss/reverse signal that I missed. This is with my new WW signal and I will be writing the code so that the computer will alert to both. Currently it does this for daily charts but not for intraday. The most important error is the stop loss / reverse signal that was missed. I expect to have that error taken care of by Monday so that it will not have to be manually done and will aid in keeping track of more than on at a time.
I had one overbought B8 signal but the stock was so thin I lowered my target when the day was less than two hours to go and I did not want to get caught holding a thin stock overnight.
HAYN + 107
RAX BW â 17 (didnât give it enough time)
CSIQ was a gap up after a B8 signal +114 Worked out great but small size
TSO was a long with the WW signal and I was very conservative with the trade. + 24
SNDK continued its climb today with about 8 days in a row higher after today. I especially like that the up move accelerated in the last few days with gaps higher. Its easy to see for me that SNDK is reaching the point where all the passengers are on the bus and no one is left pushing it. My cost basis is just under the close today and with a retrace of under 27 I will have turned this into a very nice trade. Also if you count the number of bars that are higher than two bars before its up 16 bars in a row so I will also be shorting more if it does move higher in the open. I scalped it during the day and rode it up so I do have a closed out gain as well as shares short.
SNDK + 107
SHS WW that never went anywhere +3
PRGS Gap up worked out. + 147
JBL was a tough trade all day long and was stressful. during the course of the day I missed a signal to exit and while I would have taken a hit it would have been about a third or less of what I expect it to finally be. Some automation in warnings will solve this so I donât expect to have to many more like this one. I also received a warning that it was going to enter in a possible overbought territory so I only covered some during the close. Not fully convienced that it was the right choice but given the price action today and that the signal will put it in overbought if it goes higher I decided to let some stay for night. â 936
CENX was a call out from chat that looked like it could do something. I didnât give it much of a chance as I was pretty well occupied with JBL and SNDK so I just closed it out when it didnât quickly move in my favor. + 2
Today was also busy in that I did somewhere in the area of 30K shares
C fell today but still in the money and still feel great about it. I picked up a few more shares and will hold until the new year or will stop loss at a 10% loss.
- 444
+ 4892 Month
I was up nicely for much of the day. I made a calculation error with JBL (actually one or two errors). One unfortunately was the entry (the entry could actually go either way and so I pulled the trigger) and another more important and clear error was when I received a stoploss/reverse signal that I missed. This is with my new WW signal and I will be writing the code so that the computer will alert to both. Currently it does this for daily charts but not for intraday. The most important error is the stop loss / reverse signal that was missed. I expect to have that error taken care of by Monday so that it will not have to be manually done and will aid in keeping track of more than on at a time.
I had one overbought B8 signal but the stock was so thin I lowered my target when the day was less than two hours to go and I did not want to get caught holding a thin stock overnight.
HAYN + 107
RAX BW â 17 (didnât give it enough time)
CSIQ was a gap up after a B8 signal +114 Worked out great but small size
TSO was a long with the WW signal and I was very conservative with the trade. + 24
SNDK continued its climb today with about 8 days in a row higher after today. I especially like that the up move accelerated in the last few days with gaps higher. Its easy to see for me that SNDK is reaching the point where all the passengers are on the bus and no one is left pushing it. My cost basis is just under the close today and with a retrace of under 27 I will have turned this into a very nice trade. Also if you count the number of bars that are higher than two bars before its up 16 bars in a row so I will also be shorting more if it does move higher in the open. I scalped it during the day and rode it up so I do have a closed out gain as well as shares short.
SNDK + 107
SHS WW that never went anywhere +3
PRGS Gap up worked out. + 147
JBL was a tough trade all day long and was stressful. during the course of the day I missed a signal to exit and while I would have taken a hit it would have been about a third or less of what I expect it to finally be. Some automation in warnings will solve this so I donât expect to have to many more like this one. I also received a warning that it was going to enter in a possible overbought territory so I only covered some during the close. Not fully convienced that it was the right choice but given the price action today and that the signal will put it in overbought if it goes higher I decided to let some stay for night. â 936
CENX was a call out from chat that looked like it could do something. I didnât give it much of a chance as I was pretty well occupied with JBL and SNDK so I just closed it out when it didnât quickly move in my favor. + 2
Today was also busy in that I did somewhere in the area of 30K shares
C fell today but still in the money and still feel great about it. I picked up a few more shares and will hold until the new year or will stop loss at a 10% loss.
- 444
+ 4892 Month
Just out of curiousity Robert. You have spent a lot of time working on your strategy and trying to perfect your trading...however after reviewing your posts, I see you are only up about 15k ytd and given the capital you are using to trade, your returns are terrible and underperforming the markets considerably, not to mention the short term gains from trading are all taxed at 40%+ which makes it even more painful.
Don't you ask yourself if any of this is worth it?
Don't you ask yourself if any of this is worth it?
Quote from yobo:
Just out of curiousity Robert. You have spent a lot of time working on your strategy and trying to perfect your trading...however after reviewing your posts, I see you are only up about 15k ytd and given the capital you are using to trade, your returns are terrible and underperforming the markets considerably, not to mention the short term gains from trading are all taxed at 40%+ which makes it even more painful.
Don't you ask yourself if any of this is worth it?
Hello Yobo,
Sure I think we all do at times.
I love what I do and I put myself in a position to make large gains at the sacrifice of more steady gains.
My actual gains are a little more than double your calculated amount though. (even after today's nightmare)
Most of the time I think I am one of the luckiest guys around. I have a great wife, three cool boys and I get to trade for a living.
So is it worth it?? You bet it is for me
Happy holidays to you and yours and when your feeling beat up remember that we are all pretty lucky when you compare to those that have lived on this rock before us.
Best
Robert
SNDK and JBL moved against me today
As it turns out I stopped out right near the top of the move of JBL. Never fun but has to be done if I am to fight another day. I did trade it again after closing out the loss but not sure if there was even a gain as the sale price was one cent above the cover price and the commissions where about a dollar for round trip.
JBL â 1787
I carried SNDK overnight and that was painful. After eight days up in a row and the last three days being gap ups closing near the high of the day it appeared to be about done. I have seen stocks move up 10 and 11 days in a row but they usually are pretty tired at the end and its rare. Also SNDK is up over 50% since the start of the month so I felt the odds where that it would open lower and continue to move lower through the day. This is the opposite of what happened. Now we have nine days up in a row with three gap ups in the last three days. Unless there is some insider trading or some other type of event that only a few know about I still think the odds favor it opening lower and moving lower all day tomorrow. Since I feel the odds favor it I have remained short SNDK but I did reach a point of taking stop losses near the top of the day and also I covered some when it moved back down to around 28. I then sold it again as it moved higher. â 1702
PCX still short a few shares near the closing price. WW â 5.32
NE stopped out WW â 90
MAC B8 that I was able to trade twice and then once again with the WW signal. I tried to get more than target on the first try but ended up getting less as I needed to cover when it made its second move higher. MAC made a second move higher into overbought and I was able to actually get a little more than target so all in all it was a good trade. Best trade of the day for me. + 798
INFA never went anywhere and while overbought I was stopped out. â 126
C I traded C back and forth a few times. Still own it but scalped it for some small gains. + 35
AM was a nice trade. Based on the WW signal. I did not trade it full size as not all my offers where hit but I was able to take it for a ride that gave a good gain. I did scalp 100 shares in hopes of basis improvement which did not happen as the price really fell fast but was able to get a majority of the gains for the 300 remaining shares. When the signal works it works really well. + 221
-2656
+2236 Month
As it turns out I stopped out right near the top of the move of JBL. Never fun but has to be done if I am to fight another day. I did trade it again after closing out the loss but not sure if there was even a gain as the sale price was one cent above the cover price and the commissions where about a dollar for round trip.
JBL â 1787
I carried SNDK overnight and that was painful. After eight days up in a row and the last three days being gap ups closing near the high of the day it appeared to be about done. I have seen stocks move up 10 and 11 days in a row but they usually are pretty tired at the end and its rare. Also SNDK is up over 50% since the start of the month so I felt the odds where that it would open lower and continue to move lower through the day. This is the opposite of what happened. Now we have nine days up in a row with three gap ups in the last three days. Unless there is some insider trading or some other type of event that only a few know about I still think the odds favor it opening lower and moving lower all day tomorrow. Since I feel the odds favor it I have remained short SNDK but I did reach a point of taking stop losses near the top of the day and also I covered some when it moved back down to around 28. I then sold it again as it moved higher. â 1702
PCX still short a few shares near the closing price. WW â 5.32
NE stopped out WW â 90
MAC B8 that I was able to trade twice and then once again with the WW signal. I tried to get more than target on the first try but ended up getting less as I needed to cover when it made its second move higher. MAC made a second move higher into overbought and I was able to actually get a little more than target so all in all it was a good trade. Best trade of the day for me. + 798
INFA never went anywhere and while overbought I was stopped out. â 126
C I traded C back and forth a few times. Still own it but scalped it for some small gains. + 35
AM was a nice trade. Based on the WW signal. I did not trade it full size as not all my offers where hit but I was able to take it for a ride that gave a good gain. I did scalp 100 shares in hopes of basis improvement which did not happen as the price really fell fast but was able to get a majority of the gains for the 300 remaining shares. When the signal works it works really well. + 221
-2656
+2236 Month
Quote from Robert Weinstein:
Hello Yobo,
Sure I think we all do at times.
I love what I do and I put myself in a position to make large gains at the sacrifice of more steady gains.
My actual gains are a little more than double your calculated amount though. (even after today's nightmare)
Most of the time I think I am one of the luckiest guys around. I have a great wife, three cool boys and I get to trade for a living.
So is it worth it?? You bet it is for me
Fair enough Robert. Im not here to lecture or minimize what you are doing. I don't know your personal finances but I hope the several hundred thousand you are playing with is a small percentage of your total worth and the rest is untouchable and set aside for your family...(wife and three kids). I see traits in you that are very similar to mine. It's to easy to get caught in the fantasy of making fast money be ause once you do make fast money, you quickly learn how fast it disappears. Example: you making and losing 100k earlier this year. Trading than becomes a puzzle and you spend hundreds of hours trying to figure it out all along justifying gains and losses to chalking up experience etc etc. And just when you think you have it figured out you get spanked.
The journey you are On Robert will never end. You were up 160k and lost it all. How did you explain that to your wife. Do you have an exit strategy? How much do you have to make to stop trading and enjoy time away from the computer. Or how much can you lose before you stop trading.
Are you trading for the emotional highs and lows or are trading to obtain financial freedom and what does that mean.? I bet you already have financial freedom and your addicted to the puzzle? Merry Christmas Robert. I hope these words jaustle your brain and make you think about your plan and help you fine tune it.
Happy holidays to you and yours and when your feeling beat up remember that we are all pretty lucky when you compare to those that have lived on this rock before us.
Best
Robert
Quote from yobo:
Hello Yobo,
I have the greatest wife in the world. After I told her about HAR she said something to the effect "well I guess we will be waiting a little longer before we move to Nevada"(she knows I want to move to Nevada) and that was it. She is not about money and after 13 years of being married with many business ups and downs she has always stuck by my side.
Best
Robert
I thought yesterday was bad......
It really is not enjoyable to get your face smashed into the sidewalk but that does seem to motivate me and I was motivated to the tune of about 2am last night.
There is a silver lining to all this. What happened in some ways should have happened. If you let your guard down at all even for a short while and you do it often enough days like today (and some others I recall) will happen and hit you over the head. The other good news is that when I do maintain strict desipline over my setups and trades I do very well and can go months without a losing trading day as I did early this year and last year.
ok, on to the days results,
Proven wrong again with SNDK
SNDK is the only stock out of a look back of 650 trading days (~2.5 years) that has managed to have a run like it has. What a total killer and stressful trade. I did get a short signal with it but even that one signal proved to be wrong and so I took my stop loss with that. I took some more stop losses in after hours to bring my share size down even further (I was already at a lower share amount that the start of the day). I guess it could keep going higher but I am going to give it until Monday and then if it doesnât break down I will walk away. Its frustrating as well (it shouldnât be) but the close today should be the high of this move (along with yesterdayâ¦..). When I did get the short signal I went pretty large size to bring up my ave cost basis and if it would have broken I think it would have gone well. At any rate I am not real happy with myself. Poor management of the trade and this was actually a winner for me at one point. probably going to take a bigger hit in afterhours and just get out and take it fresh Monday. I am also holding 291 shares short as of this post. I can not begin to describe how much I do not and did not want to cover. I have seen this time and time again. I will though short again on Monday if it gives off a short signal. The reason for this trade was that it was up strong after 8 days in a row. I did at one time trade stocks and fade moves that where up 10 days in a row on the 11 day if it could go higher than the day before high. The setup can work well with some other criteria which are actually met with SNDK. But this one was not ready yet and so I lost my way with it. I also have developed some setups that have close stops in order to get out of the mindset of fading with very wide stops. There were many times that I could have walked away with a small loss or no loss at all. I may have taken what appears to be a large hit but it was also a lesson learned and motivated me to read The Art of War again (or at least the parts that I needed to reread) and I feel like my batteries have been recharged and that I am ready to shake it off and be good to go on Monday. I will not add to the SNDK trade unless its going my way and with a valid short signal and I will cover the few shares that I have it it can show anymore strength even if that means I cover at the top on Monday. â 7335
WYNN WW + 62 I would like to give a big shout out to Geez in the chat for pointing this one out. Just as he called the trade I took a look and it was giving me a WW10 short signal so I went along for the ride. I feel very lucky to have Geez in the chat room. His twin brother Jeg is a great asset as well.
PCX + 14
IPI WW, I took a stoploss early. Its not a reason but I just didnât want any more losses for the day. As it turns out this short did break and this would have been a good trade. â 12
HEAT â 15 mistake trade and closed out as soon as it was realized.
CSKI WW I did not allow this one to make anywhere near the amount it could. another cost of SNDK and losing my focus. + 13
- 7272
- 5036 month
It really is not enjoyable to get your face smashed into the sidewalk but that does seem to motivate me and I was motivated to the tune of about 2am last night.
There is a silver lining to all this. What happened in some ways should have happened. If you let your guard down at all even for a short while and you do it often enough days like today (and some others I recall) will happen and hit you over the head. The other good news is that when I do maintain strict desipline over my setups and trades I do very well and can go months without a losing trading day as I did early this year and last year.
ok, on to the days results,
Proven wrong again with SNDK
SNDK is the only stock out of a look back of 650 trading days (~2.5 years) that has managed to have a run like it has. What a total killer and stressful trade. I did get a short signal with it but even that one signal proved to be wrong and so I took my stop loss with that. I took some more stop losses in after hours to bring my share size down even further (I was already at a lower share amount that the start of the day). I guess it could keep going higher but I am going to give it until Monday and then if it doesnât break down I will walk away. Its frustrating as well (it shouldnât be) but the close today should be the high of this move (along with yesterdayâ¦..). When I did get the short signal I went pretty large size to bring up my ave cost basis and if it would have broken I think it would have gone well. At any rate I am not real happy with myself. Poor management of the trade and this was actually a winner for me at one point. probably going to take a bigger hit in afterhours and just get out and take it fresh Monday. I am also holding 291 shares short as of this post. I can not begin to describe how much I do not and did not want to cover. I have seen this time and time again. I will though short again on Monday if it gives off a short signal. The reason for this trade was that it was up strong after 8 days in a row. I did at one time trade stocks and fade moves that where up 10 days in a row on the 11 day if it could go higher than the day before high. The setup can work well with some other criteria which are actually met with SNDK. But this one was not ready yet and so I lost my way with it. I also have developed some setups that have close stops in order to get out of the mindset of fading with very wide stops. There were many times that I could have walked away with a small loss or no loss at all. I may have taken what appears to be a large hit but it was also a lesson learned and motivated me to read The Art of War again (or at least the parts that I needed to reread) and I feel like my batteries have been recharged and that I am ready to shake it off and be good to go on Monday. I will not add to the SNDK trade unless its going my way and with a valid short signal and I will cover the few shares that I have it it can show anymore strength even if that means I cover at the top on Monday. â 7335
WYNN WW + 62 I would like to give a big shout out to Geez in the chat for pointing this one out. Just as he called the trade I took a look and it was giving me a WW10 short signal so I went along for the ride. I feel very lucky to have Geez in the chat room. His twin brother Jeg is a great asset as well.
PCX + 14
IPI WW, I took a stoploss early. Its not a reason but I just didnât want any more losses for the day. As it turns out this short did break and this would have been a good trade. â 12
HEAT â 15 mistake trade and closed out as soon as it was realized.
CSKI WW I did not allow this one to make anywhere near the amount it could. another cost of SNDK and losing my focus. + 13
- 7272
- 5036 month