That does seem to have a lot of truth in it. The people that I know that are the most negative seem to always have some "bad luck" happening to them all the time while the positive people seem to get all the "good luck"
Have a great week FB
Robert
Weinstein Trading and Fading
- Thread starter Robert Weinstein
- Start date
That does seem to have a lot of truth in it. The people that I know that are the most negative seem to always have some "bad luck" happening to them all the time while the positive people seem to get all the "good luck"
Have a great week FB
Robert
Hi BillyJoeRob,
Thanks for saying so. Its in my self interest to be honest so that helps. The main thing about this journal is for me to be able to look back at my trades and see a pattern.
Yes, I do think in longer timeframes and I often exercise that in options. I tend to write options on trades that I want to hold for longer than a week. Currently I am short TM 65 Feb puts that I sold for 76 cents each. I am also looking at oil (shorting puts) as well as the US 30yr bonds(again options).
Last year I held (off the top of my head but the journal here will have a record of them) GE, Pepsi, LVS, Orleans, RICK, USO and 30yr bonds. All but maybe RICK was via shorting puts and they all made money.(not that making money on any one trade makes it good or bad)
I am willing to let my time horizon change though. For example the TM puts went from 76 cents the day I sold them to 30 cents the next day and I was bidding 30 cents to cover (didnt get hit though). Today I was bidding 20 cents. If they work out well I expect to cover at about a nickel as I feel that often its not worth the exposure to hold if there is any serious amount of time or it starts to move close to the strike. As long as the price stays far from the strike I will often hold until they expire. I also did buy C outright a few weeks ago (since covered) but that was only because it didn't make sense to sell puts for it.
Best
Robert
Today I was given a chance to trade HAR again.
That is one stock symbol that I probably will remember even after the Alzheimer kicks in. Regardless of last July though I did not trade it any different than any other. Itâs not like the market cares what I think about a past trade or even this one for that matter. I kinda had it in my mind this morning as I watched it trade last night after the earnings release. My thoughts last night though was that it was not going to be a trade today because it really did not move up that much in aftterhours yesterday. The open today was not even that impressive but the way it screamed higher gave some opportunity. Much of the gains was scalped as it traded in a range for a while. All around a good trade although I was in it for a while but that was offset by being able to scalp it. + 497
C + 2 one scalp as I attempted to scale into the stock. Still long and will hold for a while
TM options. + 118 Covered the TM feb 65 puts today for 15 cents each. just two contracts
FDX, scratch trade. I exited the trade right after entry as I was trying to flatten out for the day and didnât want to spend the rest of the day watching it for a small gain as I was not willing to put any size on. As it turns out I sold near the HOD but it was a fade so I was not going to get much anyway.
MET chat room call out. trailing stop triggered and out + 22
UAUA was strong and gave several signals today. I traded it for most of the day and at the close I am still short near break even. It was very slow moving the whole day but I scalped it for almost all the gains. I thought it might puke out into the close but it stayed strong. I did cover some at the close so I would be pretty small into tomorrow if my bids do not get hit in case it wants to open higher. If so I will most likely fade that move especially if it opens with a gap higher as that should be the end of the move. I would have guessed greater trading in after hours with UAUA considering the day it had in terms of volume and price action. + 165
+ 807
-366 Month
That is one stock symbol that I probably will remember even after the Alzheimer kicks in. Regardless of last July though I did not trade it any different than any other. Itâs not like the market cares what I think about a past trade or even this one for that matter. I kinda had it in my mind this morning as I watched it trade last night after the earnings release. My thoughts last night though was that it was not going to be a trade today because it really did not move up that much in aftterhours yesterday. The open today was not even that impressive but the way it screamed higher gave some opportunity. Much of the gains was scalped as it traded in a range for a while. All around a good trade although I was in it for a while but that was offset by being able to scalp it. + 497
C + 2 one scalp as I attempted to scale into the stock. Still long and will hold for a while
TM options. + 118 Covered the TM feb 65 puts today for 15 cents each. just two contracts
FDX, scratch trade. I exited the trade right after entry as I was trying to flatten out for the day and didnât want to spend the rest of the day watching it for a small gain as I was not willing to put any size on. As it turns out I sold near the HOD but it was a fade so I was not going to get much anyway.
MET chat room call out. trailing stop triggered and out + 22
UAUA was strong and gave several signals today. I traded it for most of the day and at the close I am still short near break even. It was very slow moving the whole day but I scalped it for almost all the gains. I thought it might puke out into the close but it stayed strong. I did cover some at the close so I would be pretty small into tomorrow if my bids do not get hit in case it wants to open higher. If so I will most likely fade that move especially if it opens with a gap higher as that should be the end of the move. I would have guessed greater trading in after hours with UAUA considering the day it had in terms of volume and price action. + 165
+ 807
-366 Month
Ya know limitupmike, as one goes through life, one learns certain things (unless of course that person happens to be developmentally challenged).
Generally, most people learn humility, how to handle their own ego, when to admit to a mistake, how to not be an all around asshole, how to keep their mouth shut when appropriate... yada yada.
That said, when I come across an asshole, I immediately assume they must have a learning disability. If that conclusion proves false, I then assume that the parents must've really messed up somewhere. In any case, I end up feeling kinda sorry for the guy/gal... its usually not their fault they're an asshole, they just can't help themselves --- its like they don't know any better.
You, limitup, just kinda seem "special"... I tend to think Robert sees things my way as well (he also has kids and realizes they're kinda "special" too for the first few years), hence his replies to you have been tame to say the least.
Anyway, I'll leave you with this parting thought; no matter how good you are at something, no matter how much money/success you have, an asshole is still an asshole.
BIDU was in serious action today
I was trading it but only at 20 shares at a time. I think that if I want to trade it that using odd lots is better than options. The options kill you if you need to get out offsetting any edge that may exist. I traded the gap higher and did well. I went at it again with the later move higher in the day and gave all of the gains back. I traded myself out of it somewhat but I also missed an exit point and I am going to program it into the system to provide an alert. This is actually something I am hoping to get automated as it would be simple from a math point of view. I then received another short signal so shorted into the close. Carrying a small amount over.- 90
AIG gave several signals and I traded it two times with a lot of scalping but was good both times trading it. + 356
OPEN started out as a mistake gap up trade. I exited with a small gain. Also OPEN doesnât have a 200MA so I had to do the math on the fly with it becoming oversold as I saw it screaming higher. It turned into a real good trade allowing me to scalp it and get full target on the core short. The only thing I could maybe have done different is get more aggressive with shares when it was so far intrabar oversold. + 532
UAUA was my overnight hold. I covered some in premarket trading and then held the rest to see if it would retrace or bounce. It at first bounced which gave me the chance to fade it although I was not increasing my basis but fading at break even with expectation it would again fall. When it did I covered and did ok for just having a few hundred shares. It did give me another short signal later today but it was not very strong so I passed on it. To have made it really worth while I would have had to spend the whole afternoon managing it and building size. I was trying to wrap up so I could hit the books. It didnât happen though as it turned out. + 163
+ 961
+ 595 Month
I was trading it but only at 20 shares at a time. I think that if I want to trade it that using odd lots is better than options. The options kill you if you need to get out offsetting any edge that may exist. I traded the gap higher and did well. I went at it again with the later move higher in the day and gave all of the gains back. I traded myself out of it somewhat but I also missed an exit point and I am going to program it into the system to provide an alert. This is actually something I am hoping to get automated as it would be simple from a math point of view. I then received another short signal so shorted into the close. Carrying a small amount over.- 90
AIG gave several signals and I traded it two times with a lot of scalping but was good both times trading it. + 356
OPEN started out as a mistake gap up trade. I exited with a small gain. Also OPEN doesnât have a 200MA so I had to do the math on the fly with it becoming oversold as I saw it screaming higher. It turned into a real good trade allowing me to scalp it and get full target on the core short. The only thing I could maybe have done different is get more aggressive with shares when it was so far intrabar oversold. + 532
UAUA was my overnight hold. I covered some in premarket trading and then held the rest to see if it would retrace or bounce. It at first bounced which gave me the chance to fade it although I was not increasing my basis but fading at break even with expectation it would again fall. When it did I covered and did ok for just having a few hundred shares. It did give me another short signal later today but it was not very strong so I passed on it. To have made it really worth while I would have had to spend the whole afternoon managing it and building size. I was trying to wrap up so I could hit the books. It didnât happen though as it turned out. + 163
+ 961
+ 595 Month
i was trying to call u yesterday (my yesterday_ feb'10 at nite but your today_ feb'10 morning) ... as usual ... i didn't leave a msg ( my terrible habit!)
You one lucky man... 20 shares at a time... phew ... try not to touch BIDU for a while if you can ...
Good job for +595 month
BIDU gave us BIG Hong~Bao (red packets filled with $)
Lunar New Year is coming and although you're not chinese ... still I Wish You and ALL A Happy & Prosperous New Year!
~kong Hey Fatt Choy~ (in cantonese)
~Gong Xi Fatt Chai~ (in mandarin)
