Robert Weinstein Trading Blog

Traded well today and this week and I am pretty happy about that

This week was about trading only signals and as the week progressed I was on target and really making progress to getting it all back on track.
I would even go so far as to say that my discipline this week has been the best it has been in months and I even had a few lucky breaks (I don’t actually believe in luck) that made the week good.
On Wednesday night I took a look at the B8 signal in light of MIL on Monday (I didn’t trade it due to being out of the office “lucky”) and knew that I needed to have some type of method to filter for super large news breaking out during trading hours. I have been through them before and normally come out on top but why go for that type of ride if it is possible to avoid it. So I spent about 6 hours going over different methods of filtering that would not curve fit any more than 1% of other trades. Sometime around midnight I had what I thought would work. Little did I know that just two days later I would get my first test of my updates. NUVA had huge news come out and shot up about 40% within about 10 minutes. I received a short signal at 41.87 (HOD was 42.50) so that is about as much as I could ask for. I did sissy out though with my shorts. My first offer was at 42.08 and my next was at 42.61. Granted my signal calls for a closer spread in normal situations but these happen so rarely and with MIL very fresh in my mind I thought I may be looking at a 50% or higher gain peak before topping out and didn’t want to take on the risk to quickly. I did however widened out my gain target and more than made up for lack of shares based on a normal target. I took a gain of 2.22 which is one of my best and the whole thing lasted 2 and a half minutes from enter to exit. I was also pleased in how calm the whole process was for such a quick on the fly trade.
NUVA + 222
DLTR was a challenging stock the last few days. about a month ago I lowered the impact a gap has on the signal generator and as a result I ended up in DLTR at the high point of the move it made (had it gone one penny less the next bar would not have been qualified and I would not have entered for another 90 cents or so). This one thing changed it from being a very good trade into a loser but I am glad that I stuck to the plan and traded it correctly. I can’t get rid of losers but I can control how I handle the trades. I traded it back and forth today and then exited with a gain for the day but a loss for the overall trade. The only thing I could have really done much different is to have not lowered my risk by not taking stop losses but I am comfortable knowing this one was not going to blow up in face. + 23

INT gap up + 24

MHK was both a gap up and B8 + 128

+ 398