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Cklamb

 

JD

Jan 28, 2020 15:04


Tags:

Short Intraday Resistance Play

JD
Total gain/loss: $84.04 Largest gain: $20.28 (show)

Average daily gain/loss: $84.04 Largest loss: $-24.95 (show)

Average daily volume: 21930 Average per-share gain/loss: $0.01
Average winning trade: $8.61 Average trade gain/loss: $4.20
Average losing trade: $-13.41 Trade P&L standard deviation: $12.03
Total number of trades: 20 Profit factor: 2.57
Number of winning trades: 16 (80.0%) Average hold time (winning trades): 17 minutes
Number of losing trades: 4 (20.0%) Average hold time (losing trades): 7 minutes
Max consecutive wins: 7 (show)
Max consecutive losses: 1 (show)

Average position MFE: $10.25 Average position MAE: $-13.20

Intraday Fundamentals
• Abating fears in the coronavirus
• Second day play.. bounce play strong market

Technicals
ADV 11.54m RVOL 2 ATR 1.21 BETA 1.45 Short 3.6% Inst Own 49.6%
Daily

Hourly

Intraday

Trading Strategy
• Long bias on this
• Consider an opening drive on a small lot if the chart stay trending into the open, shorter time frame as usual. Clear at 39..
• If breaks and holds 39 early wait for the retest and try to take it long into 39.50
Reading the Tape
There were many times that the tape helped here.
Trade Management

Trade Notes
• I started of trying to long this on what seemed to be strong momentum in PM. I thought I would try for an opening drive. I took small as always and started to add small but bailed with a loss. I followed with 2 quick small losses looking for 38.20 to hold. I attempted to get a hold at 38 that started to drop full size. I added to this twice as it slid and twice as it started to hold 37.70 grabbing a the last of the four adds at the average price. I cleared most out in the mid.90s and the rest just above 38.00. I had to do something similar as I started to play for the break above 38.80 added small bits as it came back and held 38.30 allowing to flatten at 38.40.
• I flipped to a short here as the last attempt to hold VWAP failed. I was too large for a set up like this. I did turn back to the long as VWAP started to hold. I got a head fake small win. Then I took some long at 38.30 with some good partials I got the run up 38.77
• I did start to try to play the break out above 39.0 without much luck. I did have a short off 39 that scored nice. But, could have been manage much better.
• VWAP HOLD and VWAP break plays. The hold was much more solid in the approach and the exit and the break more a short off .65 on some momentum with a good partial and a tight spot based on some tape action. I managed to hack up the spike looking for it to extend above 38.77
• I did play the short off 38.57 or VWAP at that time with 38.40 as a target trying to hold in case it continued a breakdown. When it tapped I took it long looking for the break above with another small win until getting tapped out the remainder at 38.55. Then I hacked it up looking for the short off the rejection off VWAP again.
• I was profitable longing this from 38.60. But, a little more patience on the initial trade would have added about 10 cents to the run.
• I started trading apprehensively and a little larger than I should have throughout the rest. This stock being so tight on the spread and in a small range though made it good practice for adjusting to larger tiers. But, I give more back than I gained.


Execution detail:

Date/time Symbol Side Price Position
2020-01-28 15:04:02 JD sell $38.855 short
2020-01-28 15:05:01 JD sell $38.835 short
2020-01-28 15:05:01 JD sell $38.835 short
2020-01-28 15:12:20 JD buy $38.865 0
2020-01-28 15:16:38 JD sell $38.850 short
2020-01-28 15:17:22 JD sell $38.865 short
2020-01-28 15:17:32 JD sell $38.870 short
2020-01-28 15:17:46 JD sell $38.875 short
2020-01-28 15:19:26 JD buy $38.900 0
2020-01-28 15:22:32 JD sell $38.885 short
2020-01-28 15:25:09 JD buy $38.895 short
2020-01-28 15:25:09 JD buy $38.895 short
2020-01-28 15:25:09 JD buy $38.895 0


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