Weinstein Trading and Fading

[Robert Weinstein]

First post here. I plan on keeping a trading journal of my progress of trading.
Welcome to my journey on the road to hopefully kaizen (continuous improvement) with trading. I have traded the markets on and off for over 23 years (since I was 16).

It was kinda a mixed day today. After yesterdays losses I was able to close out a modest gain.

Today started out busy and after the first initial hour really slowed down. I was able to get a few nice trades today.

LKQX H, 6B, + 858. while I expected to get more from this, I closed out at the end so that it wasn't carried over.

LEAP H, 6b warning, + 244

HANS discretionary, + 516

DISCA discretionary, + 24

BCSI H, GU, + 84 (Carrying most over the weekend)

+ 1728 day

 

[DaxDestroyer]

First post here. I plan on keeping a trading journal of my progress of trading.
Welcome to my journey on the road to hopefully kaizen (continuous improvement) with trading. I have traded the markets on and off for over 23 years (since I was 16).

It was kinda a mixed day today. After yesterdays losses I was able to close out a modest gain.

Today started out busy and after the first initial hour really slowed down. I was able to get a few nice trades today.

LKQX H, 6B, + 858. while I expected to get more from this, I closed out at the end so that it wasn't carried over.

LEAP H, 6b warning, + 244

HANS discretionary, + 516

DISCA discretionary, + 24

BCSI H, GU, + 84 (Carrying most over the weekend)

+ 1728 day

In the case you are interested that anybody follows you
post the reasons for the entries and exits as it is otherwise not worth reading it

 

[Robert Weinstein]

In the case you are interested that anybody follows you
post the reasons for the entries and exits as it is otherwise not worth reading it

Hello DaxDestroyer,

Thanks and I am happy to be here. I can say that I short in over 95% of my trades and my reason for each short is because I believe they are over bought. As I post daily it will probably become very clear to anyone that does want to follow.

Thanks again for your help

Bob

 

[DaxDestroyer]

Hello DaxDestroyer,

Thanks and I am happy to be here. I can say that I short in over 95% of my trades and my reason for each short is because I believe they are over bought. As I post daily it will probably become very clear to anyone that does want to follow.

Thanks again for your help

Bob

You will find out, that nobody here will do "your work". You should give the triggers (overbought can mean a lot). Otherwise nobody wants to follow. Even if you earn millions

Just my 2 cents.

 

[Robert Weinstein]

My over the weekend trade with BCSI turned into a real nice trade. Opening lower as expected and gave enough time to close out before moving to far higher. + 4248

DISCA was a quick scalp + 63

FCN, fast scalp + 73

Otherwise a pretty slow day today.

+ 4384 Day / Week / Month

~ 14K shares

 

[DaxDestroyer]

My over the weekend trade with BCSI turned into a real nice trade. Opening lower as expected and gave enough time to close out before moving to far higher. + 4248

DISCA was a quick scalp + 63

FCN, fast scalp + 73

Otherwise a pretty slow day today.

+ 4384 Day / Week / Month

~ 14K shares

hmmm :whistling if we all posted our trades like you would you then STOP IT ?

 

[Robert Weinstein]

Today was a tough day as I record a loss. My second loss of the year.

I did have some nice trades today. I also really dropped the ball with FCN and did not see hwo strong it really was. Blockbuster was reported it may have to go into bankruptcy and lawyers are working with management. That sent the stock into a free fall. the initial reaction by NFLX was to go straight up to the moon. I was able to fade that move and book a nice gain. The rest of the trades today were just scalps. I am still holding overnight FCN as I feel it will open lower tomorrow.

FCN - 4911

NFLX H, + 621

ORLY + 558

AZO + 353

- 3260 Day

+ 1124 Week / Month

~ 39K shares

 

[Robert Weinstein]

Wow what a day.

I started as expected in the hole with FCN. FCN started out as a simple scalp but then instead of letting go I held on with the belief that it would turn again into my direction (I was shorting it). This did not happen and I had no business riding it out. I can not stress how much I feel that this stock will fall tomorrow. Today is also the third day in a row that its up after a gap move. So even though I feel that the stock should fall I should not have entered when I did and I exited (a bit late). I also tried to trade it back and forth but that was not effective as there simply was not enough volume to do so in a positive way. - 15386

I did have one nice day trade

BIG GU, + 366

USO was very strong today and I closed out 3 of 4 covered calls. I was put USO on exp date in FEB at 25 and the covered stock that I sold out was covered with 25 Mar calls. - 559 for the options and + 656 for the stock for a net result on top of the gains from the primium of the Feb puts of + 97

- 14923 Day

- 13799 Week / Month

~ 28K shares

 

[Robert Weinstein]

Frustrating day to say the least

After two losing days in a row I came into the office today ready to take some gains. I ended up trading FDO with a gap up signal. I entered into it very strong and in fact way to strong. I think this is where I need some work as I could have made some nice gains if I traded it more conservatively. I really felt that FDO is overdone so I pushed it way too soon. I am still holding most of it as my confidence in the stock having downward pressure is still intact. My losses today are from my scalping the stock during most of the day which has increased my ave cost basis. - 4578

No other trades today

- 4578 Day

- 18377 Week / Month

~ 27K Shares

 

[DaxDestroyer]

Frustrating day to say the least

After two losing days in a row I came into the office today ready to take some gains. I ended up trading FDO with a gap up signal. I entered into it very strong and in fact way to strong. I think this is where I need some work as I could have made some nice gains if I traded it more conservatively. I really felt that FDO is overdone so I pushed it way too soon. I am still holding most of it as my confidence in the stock having downward pressure is still intact. My losses today are from my scalping the stock during most of the day which has increased my ave cost basis. - 4578

No other trades today

- 4578 Day

- 18377 Week / Month

~ 27K Shares

Why don't you invest some of these Dollars into education? (Charts, Events)


They upped their guidance and surprised positively. and the chart was a buy.

Mad Money: Off the Charts: Family Dollar Vs. Big Lots - Mad Cap Recap - CNBC.com

Please do yourself the favor!!!

You mentioned, that you trade now 23 years.

Thank God for the then Bull market.

Use this forum to learn instead of filling it with IMHO meaningless posts.

It sounds cruel, but it is an advice from the "better business bureau"

 

[Masquerade]

You rock Mr Weinstein - I have been following your updates in other places.

 

[Robert Weinstein]

I was able to turn it around today. Although I traded much smaller

FDO turned around and gave back much of what it took yesterday. A setup like FDO is rare but I look forward to the next one and being able to grabs some nice gains from it. + 1032

GFI unqual 6b, scalped +241

AU unqual 6b, scalped + 110

I also closed out GE mar and Jun 5 puts to lower risk to GE in case it really does fall apart. I still have covered GE stock

GE Mar 5 Put + 12

GE Jun 5 Put + 63

+ 1460 Day

- 16917 Week / Month

~ 15.5K shares

 

[Robert Weinstein]

Why don't you invest some of these Dollars into education? (Charts, Events)


They upped their guidance and surprised positively. and the chart was a buy.

Mad Money: Off the Charts: Family Dollar Vs. Big Lots - Mad Cap Recap - CNBC.com

Please do yourself the favor!!!

You mentioned, that you trade now 23 years.

Thank God for the then Bull market.

Use this forum to learn instead of filling it with IMHO meaningless posts.

It sounds cruel, but it is an advice from the "better business bureau"

Dax,

Wow, you been on me right from the word go.

You are right about something though. It does sound cruel. You appear to be someone that I would not want to invite over for a beer and that is out to bring others down instead of up. I am different. I try to assist and lend encouragement to traders as I think that actually helps.

Best to you Dax and try to keep up.

Bob

 

[Robert Weinstein]

You rock Mr Weinstein - I have been following your updates in other places.

Hey Masquerade,

Thanks for the kind words.

Very nice of you to take the time to post on my journal.

Best of trading to you Sir and have a great weekend.

Respectfully,

Bob

 

[DaxDestroyer]

Dax,

Wow, you been on me right from the word go.

You are right about something though. It does sound cruel. You appear to be someone that I would not want to invite over for a beer and that is out to bring others down instead of up. I am different. I try to assist and lend encouragement to traders as I think that actually helps.

Best to you Dax and try to keep up.

Bob

Sorry Sir, but this post reflects your trading.

Call it honesty And yes, it does help.

I trade now in my 27th year and in my real life, I do help traders. Everything I wrote here was supposed to help you from day 1. Anyway, if you feel bad about my honest comments, my apologies for taking your time.

I wish you all the best!

Carlos

 

[Masquerade]

Hey Masquerade,

Thanks for the kind words.

Very nice of you to take the time to post on my journal.

Best of trading to you Sir and have a great weekend.

Respectfully,

Bob

Thanks Bobby You too.

I've seen that you're one of the most consistently profitable traders around who posts about it. I don't know what's up with dax here.

 

[DaxDestroyer]

Thanks Bobby You too.

I've seen that you're one of the most consistently profitable traders around who posts about it. I don't know what's up with dax here.

really???

Even better

I just thought, it was a waste of time, not to explain the reasons for the trades. Because this way it helps nobody not even himself

How he handled the FDO position was IMHO just en EGO-trip. Had nothing to do with neither technical trading nor with proper money management.

Just to answer your question, not to start a discussion.
As long as I don't see this thread changing to the better, I'm out of here.
Especially as my comments are regarded as hostility. I apologize for that!

Have all a nice weekend!

Cheers Carlos

 

[Robert Weinstein]

Very slow day of trading today for me.

I was able to do some scalping but no actual full setups and trades.

Gave me a chance to work on my blog as well as other things.

Still holding some SU short overnight. I thought I would close out right after the close as I was on the bid but for 22 million shares traded today there was nothing after hours.

SU + 588
RGR + 43
ORLY + 130

+ 762 Day / Week

- 16155 Month

~ 37K shares

 

[Robert Weinstein]

Started out with my carryover of SU today.

It was nice to see GE up so strongly today. I guess the end of the world next week has been either called off or delayed. Time will tell.

LVS managed to post a gain although off the HOD. The day after the new CEO taking the helm in a surprise change yesterday. The market being up so strongly acted favorably at LVS as well and especially minutes after Leven the new CEO stated things are well. Time will tell on this as well.

Su gave a signal based on my gap up setups. Not alot of fun to have the stock your scalping and end up with a few shares gap up on you. At least the odds of still making money where in my favor.

So I shorted more as I would if I didn’t have any held over and waited it out. As expected it did find its way to the covering price but I closed out a bit early. At the time that it went to about break even I found myself trading four others at the same time. I really don’t like to get into more than four stocks at a time as I can only trade four per my main trading screen.

I can technically trade up to eight at a time with the two trading screens but I start to run out of charts at six as I “only” have six charting screens. The other trades I was trading at the time offered a much better potential gain so I closed it out at basically breakeven. + 39

NOV B6, H, Nice trade that i was able to get some shares traded as well for a decent amount of ECN rebates. + 506

ORLY discrectionary scalping only, + 140

SNDA H, + 212

LEAP H, B6, Did not move much into target profit area + 387

SBAC B6, started out scalping and turned into a full trade. Lots of shares for a decent amount of ECN rebates. Disappointed in the gain as the huge market rally really lifted all the boats including this one. Never hit target gain. +340

CASY H, This one acted pretty much as expected and quickly as well. + 316

Day + 1944

Week + 2706

Month - 14211

~ 55K shares

 

[Robert Weinstein]

really???

Even better

I just thought, it was a waste of time, not to explain the reasons for the trades. Because this way it helps nobody not even himself

How he handled the FDO position was IMHO just en EGO-trip. Had nothing to do with neither technical trading nor with proper money management.

Just to answer your question, not to start a discussion.
As long as I don't see this thread changing to the better, I'm out of here.
Especially as my comments are regarded as hostility. I apologize for that!

Have all a nice weekend!

Cheers Carlos

Carlos,

I hope you base your trading on more information than you based me and my thread on. (I mean this is a positive and not rude way as you will see as you read more)

I have a list on my blog of the top ten must read books and one of them is called "the black swan" by Nassim Taleb. He has another book that I would recommend to you sir. Its called "Fooled by Randomness"

Your comments about my trading including the "Thank God for the then Bull market" post and others show how yourself and others can come to conclusions with a very small sample size of information. Then when confronted by data that states an opposite situation may be the case (another persons post that in fact I am a good trader) you seemed surprised as your mind had been made up(again based on your posts). This book will help you understand that we can often come to make bad choices based on what we think is a sound and reasonable conclusion.

You just simply can not know based on the few posts how good or bad I am. Time will tell and only if you follow the thread for a long time can you have enough of a sample size to make a sound judgment.

If you take this post to heart and hopefully others as well see the connection you will leave having read and learned about sample size, a good book to read and maybe even more.

By the way, I looked but did not see your journal. I would guess I simply missed it as I only did a quick search. May I have you point it out?