Weinstein Trading and Fading

10-10-13

Today wasn't quite as strong as yesterday, but I still had three solid winners with (TXTR) producing a respectable gain. I'm currently flat in my trading account, but I may begin a long with (JCP) in IRA accounts.

(PBF) + .51

(TXTR) + .40

(VNET) + .26
 
10-15-13

Tuesday was a better day. I had two nice trades. I received full profit target with (ACAD) and while I didn't receive the full target, I had some size on (TUMI) which gave me a decent gain in real dollars. As it turns out, I covered the (TTM) puts too early, but made a respectable gain nonetheless.

(TTM) puts +.20

(ACAD) + ..31

(TUMI) + .32
 
10-16-13

Wednesday was a big day of trading. I was six for six and some had decent size. It was almost too busy as I was already in two active trades while juggling entries of trades that came up just short. I can defiantly see my trading mojo coming back.

At one point I had two trades on and was able to get other work done, so as I turned up the volume the steadiness that comes with confidence is coming back.I did punch out about two-three minutes before the closing bell with (NPSP) instead of waiting until the last minute, but that was about the biggest crime I committed today.

The nice thing about following trading rules is that it really tones down the stress level. I was militant about following rules in my big climb in equity of 2008 and I lost my way, at least in part in 2009. As I progress towards a black box solution the rules will have to be followed, at least as well as a computer can follow them. I see that day coming upon me soon.

(GDP) + .50

(INVN) + .50

(KERX) + .10

(NOAH) + .39

(NPSP) + .09

​$SCTY + .48

Best day of the week so far
 
10-17-13

The hits continue coming with another great day of trades. I didn't have shares to borrow for (SLCA), but I was able to buy puts and that finished the job for the most part. My profit would have been much greater using stock instead of options, but my risk was much lower because I didn't use much size, not enough based on the strength of the signal anyway.

Most of the action was right away, with very little after lunch. I did miss one trade due to not being fast enough and it fell apart before I could short it. Once I get automation in place that should help a lot. I traded (NOAH) again today for at least the second time this week.

I spent most of the afternoon watching (PRKR) and writing my newsletter. After the closing bell I watched (GOOG) and decided not to trade it (smart move).

SLCA puts + .237

(NOAH) + .48

(NQ) + .50

(SCTY) + .31
 
10-18-13

Friday caps off a great week of trading. Only three tickers today, but I made a lot of bank with (PRKR) which is a sub $7 stock using size. I hardly had time to fire off my short with (ALGN) as it didn't give me long before it fell.

(GALT) is kinda thin to say the least and I almost missed that one before it fell too, although it came back a several times. I probably should have hit it with bigger size, but I held off looking for a move above $12.75, which didn't happen.

It will probably be a busy week of programming and updating my signals. I am working off my key William signal on a fast bar, but want to expand it again using TradeStation (instead of Stockfinder) so I can gain more trades per day.

(ALGN) + .57

GALT + .38

(PRKR) + .26
 
Quote from Robert Weinstein:

The nice thing about following trading rules is that it really tones down the stress level.
More...

Good to see you posting again, Bob :)

Trading rules are the best thing that ever happened to me. Every day I hear your voice in my head at some point when I miss out on a trade because the setup didn't quite fit my rules or because I missed getting filled by a tick: "No worries, another boat will come along."

:cool:
 
10-21-13

Monday started out fast with several tickers flashing in front of me. I actually just missed one, that was a bummer, but it's a fine line between spending the whole day getting ready for trades and accomplishing nothing else or allowing one or two trades slip by now and then. I'm actively working on automation and that should help a lot. Not that it will help anytime soon, but someday right?

Lots of tickers today. One in particular made a lot of cash for me and was almost unnoticed because it was listed on a secondary scanner. (XTEX) was my most profitable in total dollar terms, and yet it could have easily been missed. I'm working on making sure all tickers sound an alarm.

I entered into a swing or longer position with (JCP). I think JCPenney turns around as fast as an aircraft carrier, but I do think it will turn around. I'm hedging with options so the premium should soften the blow if I do have to bail quickly. I traded around the position a little bit and scored a small gain, but I'm underwater overall with it at the time of writing.

(JCP) + .03

(RSH) +.12

(WBMD) + .50

(WY) - .16

(XTEX) + .76 (the best part is I had some size to go along with it)
 
Quote from NoDoji:

Good to see you posting again, Bob :)

Trading rules are the best thing that ever happened to me. Every day I hear your voice in my head at some point when I miss out on a trade because the setup didn't quite fit my rules or because I missed getting filled by a tick: "No worries, another boat will come along."

:cool:
More...

Hi NoDoji,

I can't tell you how great it is to know you're still successful. I really became burned out on how many people came and went from the chatroom.

I don't regret it though, I made some great friends too. I'm trying to balance writing, trading, and entering a journal. So far it's a mixed bag. I have two journals, one for my active trading and one that's a friend's IRA account.

How's oil treating you? I see gas dropped to $3.37 here in the last couple of days. I'm following nat gas and about to position long (via selling puts) in UNG for about four months out.

I'm also currently going back and forth in my mind if I want to make the Vegas traders expo show this November. There's another social media marketing show that I may cover as part of my writing during the same week.
 
Robert-

I'm a longtime lurker and have thoroughly enjoyed your journal. Thank you for putting yourself out there so that other aspiring traders can learn and better understand the tasks before us. A great read!

Can you tell me what software you use to screen for trading opportunities? Can you go into any detail as to what you're looking for?
 
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