I would rather see the market go higher but either way is ok. So I will wish you the best and hope you make large cash with your trade
Robert
Weinstein Trading and Fading
- Thread starter Robert Weinstein
- Start date
I would rather see the market go higher but either way is ok. So I will wish you the best and hope you make large cash with your trade
Robert
Hi Brian,
Thanks much. very cool of you to say so and I am not going to let you, myself (and many others) down.
I have spent a great deal of time and will continue to do so on the mental aspects of trading. This week was different in that I am trading my gapup, WW, MW, and my B8 signals only.
I am very excited about going into next week. Full clear mind and a positive attitude and execution of a solid plan.
I hope your week goes great too
Robert
Thanks much. very cool of you to say so and I am not going to let you, myself (and many others) down.
I have spent a great deal of time and will continue to do so on the mental aspects of trading. This week was different in that I am trading my gapup, WW, MW, and my B8 signals only.
I am very excited about going into next week. Full clear mind and a positive attitude and execution of a solid plan.
I hope your week goes great too
Robert
Hi Oracle,
I have to agree that anyone active must have been trying to keep their hands off the button to sell at least some. Few can sit on their hands with moves like today. But asking why it moved like it did is where it appears to be good. while the info is always stale it does appear that NUVA had a massive short interest. What a brutal day for anyone that was short going into today.
The B8 is over 95% actually but 5% gives back maybe 30-40% of the gains of the 95% which is tough for a lot of people to handle.
Its like being a market maker that is highly selective.
I was fully happy with NUVA. I would have rather put on some size but if it wanted to move up two or three more dollars I wanted to really drop some size to the short.
Best
Robert
I have to agree that anyone active must have been trying to keep their hands off the button to sell at least some. Few can sit on their hands with moves like today. But asking why it moved like it did is where it appears to be good. while the info is always stale it does appear that NUVA had a massive short interest. What a brutal day for anyone that was short going into today.
The B8 is over 95% actually but 5% gives back maybe 30-40% of the gains of the 95% which is tough for a lot of people to handle.
Its like being a market maker that is highly selective.
I was fully happy with NUVA. I would have rather put on some size but if it wanted to move up two or three more dollars I wanted to really drop some size to the short.
Best
Robert
Thanks,
I waited until it went over 42 and kept the size small and spread
large. I am happy to say that less than 3 minutes later I took 2.22 a share and was flat again.
A lot of hours and a lot of work really paid off nicely in that trade.
Best to you
Robert
I waited until it went over 42 and kept the size small and spread
large. I am happy to say that less than 3 minutes later I took 2.22 a share and was flat again.
A lot of hours and a lot of work really paid off nicely in that trade.
Best to you
Robert
Quote from NoDoji:
Sent you a PM so as not to drip too much oil on Robert's journal
You folks can talk oil all you want. Love oil. Next 'drip' down I will probably be looking at selling puts (never calls though)
Hi Bob,
Actually I have no problems with that, but I think you have tunnel vision, and to a degree that's good. Everything I do is the outcome of tunnel vision because every step up required both intense focus and development, but thereafter adding it to the existing mix was yet another step up.
I see what you are working on. Keep in mind that if you can turn your strategy upside down on run away gaps you can capture the meat of the move and then add your B8 to grab the reversal.
I honestly think you are working the higher skill for gleaning reversals and missing the easier hit. But this is not where you are at for now and I'm just salt rubbing a bit so that you might take up that challenge in the future.
Good trading
Somehow my memory related to trading action is good. I remember well, RW, your fading trades for 40-50$ stocks and how you could pin-point the target to 5 cent range. And there was everyone in the chatroom to congratulate you on such skills.
OK, so maybe you had a tough time recently. Just be cool, capturing 10 point moves is not a big deal for you. I had some great trades in current earnings season, two in public: http://www.elitetrader.com/vb/showthread.php?s=&threadid=188029 So If can do it, maybe you can do it better, just a matter of time. Have faith in you work, keep adapting and don't bother about noobs.
#21
OK, so maybe you had a tough time recently. Just be cool, capturing 10 point moves is not a big deal for you. I had some great trades in current earnings season, two in public: http://www.elitetrader.com/vb/showthread.php?s=&threadid=188029 So If can do it, maybe you can do it better, just a matter of time. Have faith in you work, keep adapting and don't bother about noobs.
#21
Yes, I remember that well. That's when I stopped mirroring your trades
(just kidding folks, I'm way too stubborn to mirror anyone's trades even if they are making money hand over fist)This is a confirmed trading edge. It's not yet included with most popular charting programs, but I'm sure several of them are currently working on the STS (Scared To Short) indicator. 99% of the time when I look at a stock that's running hard, the very moment I think "No way I'm gonna short THAT!" a beautiful reversal ensues.
Robert, good trading, and here's to a $50K March. (Didn't I say that to you last June and you netted around $50K?)
here's a beautiful cantonese song that sum it all up ...
Don't know at the edge of sky is there an end
Only know time passed will never return
Each string of tears is for a dream
Which unconscieously slip away ...
Unaware that years have passed in this circle until now
Only experienced in this circle the ups and downs
Every cold(eye) stare and every friendly laughter quietly one by one tasted (felt)
So much hardship those days I quietly accepted
So much bitterness (anguish) I did not give up
Intended pickings (troubles) today I don't mind
Only follow my heart's will to continue
Don't believe without sacrifice will get what you want
Only believe both hands (i.e. hardwork) will find my needs (dream)
Every string of sweat changed for a success
All this while success-failure I have seen them all
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
i may looked like 30 (thanks to my mum super good-genes, blessed with super good-skin)
but i am as wise and witty as those who's 60 because i learnt from my mistake and i am a fast-learner Today is sunday and it's the last day of Lunar New Year ... so i have time to relax a-bit ...i gotta go for yoga now and dinner later.
i wish you roarrrring good year of tiger!
I didnt want to berate you but like i said earlier shorting 20 day breakout is inviting trouble-sure you can make money shorting for .20 contra trend moves (I did the same earlier in my career) but develop a methodology to catch the trend --you'll make money easily and more of it. It's your choice to make life difficult or easier. But there is a lot of truth to "trend is your friend". There is a time and place for contra trend moves.
I can post another chart if you like--like you , I used to be very fond of predicting price--friday FCX made a move going higher towards 74.89 which was my target. It just fell shy of there and couple of years ago I wouldve exited as price retraced but there was no sell signal yet-so as long as stop wasnt hit I decided to play along ( I just have low expectations about fridays anyways). It retraced quite a bit before punching through and I sold it eventually .30 higher than my target. I can assure you 2 years ago the same trade wouldve been at least a net .60 less gain at the minimum. In hind sight I couldve sold and rebought but more of a chance of missing the move which eventually ran out of time too. Read the example of the soybean trader (?) i belive it was from Mark douglas's book where the guy said it would bounce off a level and the big guy sells a whole lot at that price to the astonishment of the analyst
As far as selling SPY at 111 is concerned I have my mental stop at 111.25 - it's a good probability setup although I'd like T2106 to be over 200 but a failure at 50 sma seems like a decent setup. Not a big position by any means 800 shares max loss around $200