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Cklamb

 

DIS

May 27, 2020 15:45


Tags:

SMA Momentum Hold

DIS
Statistics
Total gain/loss: $11.21 Largest gain: $13.53 (show)
Average daily gain/loss: $11.21 Largest loss: $-7.59 (show)
Average daily volume: 1720 Average per-share gain/loss: $0.01
Average winning trade: $4.67 Average trade gain/loss: $0.93
Average losing trade: $-4.29 Trade P&L standard deviation: $5.78
Total number of trades: 12 Profit factor: 1.52
Number of winning trades: 7 (58.3%) Average hold time (winning trades): 2 minutes
Number of losing trades: 5 (41.7%) Average hold time (losing trades): 2 minutes
Max consecutive wins: 3 (show) Max consecutive losses: 4 (show)
Average position MFE: $3.03 Average position MAE: $-2.29
Intraday Fundamentals
Technicals
ADV 23.60m RVOL .69 ATR 4.52 BETA 1.09 Short 1.32% Inst Own 65.4%
Daily

Hourly

Intra

Trading Strategy
• Long at yesterday’ Hod 122.50
• If this hold above the premarket high through the opening 15 long on any pullback to 124, VWAP or the SMA
• Work any test of the opening range
• VWAP test and SMA Momentum trades
Reading the Tape

Trade Management

Trade Notes
This was a game plan trade as well. However, the better time to take this was on the initial test leaving me a little less confident taking it this time. The SPY was starting to falter. this also did not bounce with the same momentum that it moved back into this level. I set this at 10 cents looking for 20 and bailed as it covered my risk.
121.55 was a prior day support that was tested a few times in the afternoon. I had watched this on the weak tape as it came through 122. This was more or less the bottom of the late day range that this set the day prior. I regret not being bigger in this. I need to be sized at the same size as all of the other trades that I had. Even though this was a low confidence trade mainly because I did not have this lined out earlier. However, when this stopped at .56 it should have tolld me to give it a go on the standard size.
This was strong heading back into 121. As this started, I expected a short-term rejection. I had set that if this stalled at the SMA (121.13 @ the time) on the 5 minute that I would take it short on a 10/20 set up. It stopped right at 121.13. I tried to take it short at 121.10. But, I got filled at .04 using the full 10 cents of risk it ran to target pretty quick. I needed to take the rebreak of 121.
I felt like I may have been in to high on this trade and felt like I should have waited for something closer to 121.50. I fooled myself on the prior bounce thinking it move back to VWAP with the strength in the rest of the market at the time. But, this broke correlation with the SPY late in the day.
This was not dropping .25 and rarely printing anything under that. I decided to look for a 7/15 anticipating this testing the lower 121.50 before breaking 121.25. This is the sort of trade that I need not take there was not a setup here other than a momentum break off the SMA. However, I was not aware of where this was at relative to VWAP and the higher time frames SMA.
I would have to say that I was trading the market more than this stock. Plus, why would I size up after a couple of losing trades. I was trying to fish for a momentum change at a weak level. I did this multiple times.
FOMO.. market was taking off and this looked like this was going to follow. I was working with a higher low coming off of 121 at the time though. I did manage to bracket in on a set up that would have tapped me out at the recent high..
This was a home run. But, I managed the P&L.
This was a good trade with a good add. Using 121 as the absolute wrong level, this helped me add at the SMA. I needed to try to hold the add to .25. I was managing the P&L late in the day.


Execution detail:

Date/time Symbol Side Price Position
2020-05-27 15:45:12 DIS buy $121.155 long
2020-05-27 15:47:55 DIS buy $121.090 long
2020-05-27 15:50:10 DIS sell $121.164 long
2020-05-27 15:50:15 DIS sell $121.162 long
2020-05-27 15:50:27 DIS sell $121.184 long
2020-05-27 15:51:41 DIS sell $121.400 0


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