Weinstein Trading and Fading

Hi Loize,

Ok, best thing is to be in the chat room when I am calling this stuff out because looking at my trades for yesterday it appears I did a lot with DV and I would guess (I didnt look back at my journal) that I was out and then back in more than once. Anyway, I can say my first buy was at 8:52 CST and my last sale was at 12:22 CST

I made just over $333 on the total trading of DV for the day. I always round down the pennies on all numbers unless I include the pennies.

I hope this helps and best of trading to you

Robert




Quote from lojze:

Robert, at which time did you buy DV?

And, what means +333, which percentage, which points?
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Slow day for the most part and mostly just tried to let my wrists that have been bothering me rest.

I shorted RBN during the open and that was my only real trade today. I shorted and covered some ICOP. I was very surprised that the price held up the way it did today. It was not until after the close that the price imploded. Tomorrow ICOP starts trading on the OTC BB. I am still short and plan to hold on to see where it trades tomorrow.
RBN + 385

ICOP + 15

+ 400
 
Hello Nodoji,

LOL

Sounds to me like your algros are working in breaking up your orders to have the smallest market impact as possible. Good work.

RW


Quote from NoDoji:

I've tried selling the stuff, but for some reason my massive trades just aren't pushing the price down! :p

Great trading, and thanks for dinner!
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Hi Prop,

I did hit some speed bumps last year and was able to turn things around and better understand my trading.

I am or will be attending school again. I am having issues with my wrists that keep me from being on the computer enough to do the school work along with everything else so I am trying to let them heal. Hopefully they do soon as I am more than tired of having my hands hurt.

What I have in place is my mental attitude that I don't need (and should not) trade based on a "quick hunch" or a non signal. It matters not what the news is etc.... and what matters is sitting and waiting for a signal to happen disregarding anything else that happens to come to the forefront.

I think the proof is in the pudding and my results show what I can do when I stick to my trading signals.

Best

RW


Quote from PropTraderMTL:

Agreed, it so true that having that extra buffer of being in profit makes a pull back much easier to handle. For me sometimes its a 1c difference on Citi which means whether I keep my trade or give it back. The being in a profit or experiencing a loss is usually the defining factor. I give it back if I'm in a losing position.

Thanks for answering my question. I also had another question that I asked late last year which I'm really interested in finding out your thoughts.

My question was: ...

I understand you went through a tough time earlier in the year and I remember you writing about how you were going to study full-time or were not going to trade as much.

Its really nice to see you have turned it around... Congratulations!

Now that your profitable again, what sort of things have you put in place or what have you changed to ensure you don't get yourself in a tough situation again?

Cheers, ptMTL
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It has been one long day. Lots of trading and IB I am sure loves the money they make off of my commissions. A quick look shows that I paid about 200 to IB just today.

MRO was my first trade of the day and it was a gap fade. I became greedy and wanted to get more than target and it moved back up and above my first entry. I then faded it and traded it back and forth and when it retraced the second time I was able to take a gain that was just a little bit better than had I taken the first target gain. ICOP was closed out today with a smaller than expected gain but the MMs on the OTC BB where in no mood to do anything other than totally screw over the traders. I took what I could get and let it be at that. ARMH was a tough short as it moved pretty far against me at the worst point. Plus ARMH started me out with a few shares and moved down building steam just to roll right over me. I was underwater with what I closed out until after hours because I had taken some stop losses with it which was a little hard as I felt it would be a nice pay day when it did retrace. I didn’t expect it so soon but ARMH did retrace in after hours to the point that I am now with a small closed winner and a small unrealized winner. My share size is small as well but I will add to it if it moves higher as I have offers out there. CCME was a tough trade as IB didn’t have shares so I used options that were not very liquid. I also used the stock as a method to scalp and cover while waiting for fills with the options. As a result I have a small hedging loss with the stock but the options worked out ok. I had pretty big size for the gain and it was not a lot of fun to be so underwater with CCME and ARMH at the same time (doesn’t the market know that I should be having more fun while trading??).

CSTR crashed hard in afterhours after reporting a big miss in earnings. I faded the panic sell and while I left a lot on the table I felt I did very well considering I mostly was trading 200 shares at a time and traded 100-400 shares during the whole trade.
After today’s trading I feel a little more stressed out then I would like and my hands hurt as well. While not really looking to a three day weekend that only I have in my family maybe it will be a good thing to take a day off.
ARMH still short + 8 William
CCME – 27 William hedge
CCME 20 Jan C + 573 William
CSTR + 545
ICOP + 162
MRO + 215

+ 1476
 
Hi BK

Thank you. Glad to see you in the room again. I didnt notice you calling any trades. Are you trading?

Thanks

Robert

Quote from BostonKiller:

happy to see you do so well at the start of the year, Mr W! Keep it up and I'll see you in the room!
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Over trading and jumping the gun. Understand and can relate to a time when this was a big problem for me. I have improved vastly and so has my consistency. I still make these mistakes but not as regularly and not to the same extent

Best of luck(skill) in the new year. Let's make a killing hahah

Quote from Robert Weinstein:

Hi Prop,

I did hit some speed bumps last year and was able to turn things around and better understand my trading.

I am or will be attending school again. I am having issues with my wrists that keep me from being on the computer enough to do the school work along with everything else so I am trying to let them heal. Hopefully they do soon as I am more than tired of having my hands hurt.

What I have in place is my mental attitude that I don't need (and should not) trade based on a "quick hunch" or a non signal. It matters not what the news is etc.... and what matters is sitting and waiting for a signal to happen disregarding anything else that happens to come to the forefront.

I think the proof is in the pudding and my results show what I can do when I stick to my trading signals.

Best

RW
More...
 
Thanks, Best to you as well

RW

Quote from PropTraderMTL:

Over trading and jumping the gun. Understand and can relate to a time when this was a big problem for me. I have improved vastly and so has my consistency. I still make these mistakes but not as regularly and not to the same extent

Best of luck(skill) in the new year. Let's make a killing hahah
More...
 
The day started out great with a cover of my overnight of ARMH before I even made it out of bed. I should have stayed in bed and called it a day.

I received a William B7 signal with NANO but it was a dollar lower than B9 and today was an example of why I continued to develop signal beyond the 7 series. I did not get an intraday confirmation with B7 but that was not required at the time of it being developed. B9 signaled around 16.15 and it appears that I would have not reached target at any point with that entry either. I went really heavy with this stock and put some size on. As it turns out IB has this stock on the no margin / leverage list and so I ran out of buying power pretty quickly as I was also trading KLAC at the time along with my COCO holdings. NANO was tough to take but I can’t say I did anything wrong beyond putting on to much size to quickly. Relatively though I thought I had plenty of bullets left. I changed gears and covered a large amount of the NANO stock at a loss and then wrote 16 Jan calls against it. This allowed me more flexibility as well as the opportunity to continue to fade NANO. I did not do much scalping of the stock as I did want to cover more than needed for the options due to the expectation that the price could fall and not make it back up. So I ended up watching NANO trade mostly between 17.30 and 17.60 which would have given me a chance to scalp it quite a few times. After the bell and currently during my writing I am scalping it with 100 share lots in the 17.40ish range for about 15 cents a time. I didn’t trade it many times but it was easy pickings.
ARMH was covered in the early morning hours as I left bids live.
I sold off some COCO and then sold some Feb 5 puts to maintain my long.
KLAC started out well but then went against me and I stopped out. Looking at the chart it appears that I stopped out right about the worst time.
I did make a small gain with NANO options as part of the NANO trade but that was from actually scalping them which I thought was interesting that I was able to do so. I still have both NANO and NANO calls short going into the weekend. Its a three day weekend so some of the time decay should show up on Tuesday provided NANO does retrace. There was very little premium left in the 16s because they were so far in the money but at a dollar lower it will show up.
ARMH + 704
COCO + 123
KLAC – 60
NANO – 2712
NANO Jan 16C + 73
-1872
 
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