Weinstein Trading and Fading

Quote from Robert Weinstein:

Timing is also vital and Covel covers this topic splendidly with tactics that do NOT include using judgment calls while in a trade. In a nutshell, when you are truly trend trading, you are always exiting when a trade is moving against you, and never trying to guess when the price is “too high / too low” or “has to come back some”. What really gives this “little book” and trend trading in general is greatest power is the ability to formulate a road map and plan of attack, which removes the thinking while in the trade. Removing the decision making while in “the fog of war” allows the trader to focus on becoming better instead of trying to predict the future.
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Mr. W, good to see your voice! :p

This paragraph is awesome, made me want to read the whole book.

Wishing you and your family a wonderful Christmas season!
 
hello RW

What happened to DMND? I saw you mentioned it. I got stuck with some of it when I noted one of the sheeples managing a mutual fund I had put some new funds into last month owned DMND as it's largest holding (2.4%); so with only cursory research on my part I bought a very little at 40. Figured the moron managing the fund had done his due diligence. After I caught the knife the stock did rally, but I didn't get out and did not buy put protection, which I usually tend to do with longer term holdings. Dumped it at 30 3/4.

Do you own it?
 
Quote from jnbadger:

No I cannot, and I absolutely meant no disrespect. But when I think of genius of the pen when it comes to trading books, I guess I am more inclined to go with Sheldon Nattenburg or Peter Berstein, or maybe even Mark Douglas (I only own 2), simply because of his ability to make you delve into yourself and make you realize you won't be successful unless you know who you are. Hell I may even go with Soros's The Alchemy of Finance, especially as it deals with Heisenberg's uncertainty principle and the round about way that relates to the markets.

But I digress, and you have sold me. I have learned that if you dig it, I probably will also. I have Trend Following on my droid's kindle, but will most likely check out his most recent book first.

But what I have mentioned before, and for some reason still haven't touched is more of DeMark's writings. I have developed more of a market making mentality lately, but not necessarily mean reversion, if that makes sense. And I would like to read all of his books.

Anyway, so much to read, and so little time.

As far as the holiday wishes, I reciprocate. All of the best to you and yours, sir.

Good trading.
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Hello Badger,

Thank you.

If your interested in taking the time to read DeMark, please let me suggest "DeMark Indicators" by Jason Perl. Perl goes much deeper into the indicators with actual ideas on entry and especially stop losses. It's a shorter book and if your stepping into "DeMark" for the first time, its as good of place as any to start.

It's published by Bloomberg

I have to totally agree with you about Mark Douglas. "Trading in the zone" is probably the most important book on trading (and life) I have ever read. It has sent me down the path of self realization, leading my to many others.

Best of trading to you too sir,

Robert
 
Quote from adamm2:

Yea... when this reality slaps you in the face, you've just got to prioritize.
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Very true, we seriously run out of time as traders. Everyday I am faced with how much to "let go" so I can get some sleep and maybe even spend some time with my family....
 
Quote from NoDoji:

Mr. W, good to see your voice! :p

This paragraph is awesome, made me want to read the whole book.

Wishing you and your family a wonderful Christmas season!
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Hi NoDoji !!

I hope you and your groom are doing well.

I agree, I need to get out of the house a bit more often...

let me wish you and yours a very happy holiday season as well. I am finally totally recovered from Turkey day, even though I still need to work off some pounds

If you get a chance to read the book, please let me know your thoughts as well. I am interesting in what you think of it.

Best

Robert
 
Quote from iceman1:

hello RW

What happened to DMND? I saw you mentioned it. I got stuck with some of it when I noted one of the sheeples managing a mutual fund I had put some new funds into last month owned DMND as it's largest holding (2.4%); so with only cursory research on my part I bought a very little at 40. Figured the moron managing the fund had done his due diligence. After I caught the knife the stock did rally, but I didn't get out and did not buy put protection, which I usually tend to do with longer term holdings. Dumped it at 30 3/4.

Do you own it?
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Hi Ice,

I think I talked about it in my blog, but I exited the position with a gain about two days after entry. Interesting stock for sure with what's going on in the offices, but in the end I would guess they get back on their feet. I would not be surprised to see it take a long time though.

Best,

Robert
 
Robert,

I hope all is going well. I just wanted to make sure that I had a chance to wish you a happy Hanukkah. May the festival of lights bring joy to you and your whole Mishpokhe!

Shalom,
Caementarius
 
Quote from Robert Weinstein:

Hi Ice,

I think I talked about it in my blog, but I exited the position with a gain about two days after entry. Interesting stock for sure with what's going on in the offices, but in the end I would guess they get back on their feet. I would not be surprised to see it take a long time though.

Best,

Robert
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thanks for the reply... didn't see it until now.

of course I am not in the stock so figures it pops 13 points ! Well at least one of my mutual funds has 1.7% of DMND still in the portfolio, unless he sold it at the bottom!
 
Quote from caementarius:

Robert,

I hope all is going well. I just wanted to make sure that I had a chance to wish you a happy Hanukkah. May the festival of lights bring joy to you and your whole Mishpokhe!

Shalom,
Caementarius
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Hello Cae,

Hey Thanks Very Much!!!

Please allow me to also wish you and your family the very best this holiday season and for a very wonderful New Year !!

I have heard really super things about you recently and I think its great.

I do have a favor to ask if I may.... When you make your first billion $$$ let me be the one to interview you!!

Shalom
Bob
 
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