fading is not a good trading style if the market is in a relentless rally or drop, i.e., trending market. better find some no-where (range-bound) stocks, like selling the resistance or buy supoort will be more productive using fading strategy.
shorted some from IB today at 15.23 REV with 3kshares, REV is really way too much. will fall. now it is shortable! will lbe loose quickly
Nice short. i looked at it also when it went above 15 today but IB was showing only 15K shares available to short which seemed like a very small amount compared to others when I check. Also the traded float is so small that I did not get to excited to jump in that one again. Seems like the same 200 shares are just going back and forth. So I took a pass Traded for a large part of the day but not much to show for it Started out with closing out TRW at a small gain. +190 didnât get much for signals and the gap ups didnât look so good except for PCLN which is a monster price stock at now over 200 per share. Took a small loss but perhaps I could have done much better if I would have been more aggressive. The moves are so big that $1 price moves in under 10 seconds where not all that uncommon. - 167 QGEN + 3 FOSL + 38 + 64 - 2378 Month
Hello Plan, Thanks. tough loss but its the first big loss in a few months with this signal so I guess I have to take the good with the bad. The bulk of my gains from last month (and for going back even further) is from this signal. Best Robert
Yes, the biggest factor in the loss was sizing higher along with IB running out of shares when I wanted to short more. today was back to smaller size trades and will stay that way until I am up for the month again. Thanks Robert
I like your style, good solid head you have. You're one of these guys one can have faith in that even if one strat ends up losing edge over time, he'll come up with another, and always stay ahead of the game. Good work.
too bad, you did not reshort it. I covered it at 13.67. yesterday the market is too strong. I saw REV is shooting, but too late. so this morning I was prepared to gow with those profit takers. the whole market is strong, not good for shorting. be cautious.
Question that I received that I thought was worth posting Robert, 1. I am confused by this statement on yesterday's trading: "REV gapped up this morning and I tried to fade it and it never retraced until it then later on gave a overbought signal." I would think you want to wait until getting your overbought signal before going short. 2. Also, would you please clarify what you mean by "the daily MAs really donât offer much support for the trade to begin with"? I see the last time it was at this price was Nov 2007. Hi Yeah, I make my posts pretty fast these days and often make mistakes as a result. I have a two month old son along with my two other sons and I am talking 16 credits at Penn St along with trading so I am busy I had two signals with REV. a gapup signal and an overbought signal. The actual gapup signal was a mistake due to overlooking a "detail" so I should never have been in it until about 14.45 in the first move higher which would have made it profitable. This is a result of not codifying the entries in absolute numbers with the gapups. The loss sucks but I keep in perspective that I made well over 30K on this signal for the year and this is the first loss of any size and total drawdowns with the signal is about or under 7K so I take the good with the bad. Best to you Robert
Hello Plan, Thanks for saying so and taking the time to make the post. I guess if you beat your head against the pavement long enough it gets to be pretty solid in one way or another...... Since some of my recent life changes (another jr trader added to the family and taking some classes) my strategy development has slowed down but I just started beta testing (no real money yet) and back testing a new variant to one that did not work in the past but may have an edge with some adjustments that I made. I should have a good idea about it by the end of the year. Best to you Robert
Made some adjustments to signaling and it resulted in a profitable trade for the day. It wasnât much of a day but at least it was something and it worked out well but very few shares. SFD + 44 + 44 - 2334 Month