JPM Trade on Jun 23, 2020 13:21 from Cklamb: Tradervue User Stock Trades.

JPM
Statistics
Total gain/loss: $5.77 Largest gain: $103.08 (show)
Average daily gain/loss: $5.77 Largest loss: $-97.19 (show)
Average daily volume: 2280 Average per-share gain/loss: $0.01
Average winning trade: $54.88 Average trade gain/loss: $1.15
Average losing trade: $-34.67 Trade P&L standard deviation: $70.97
Total number of trades: 5 Profit factor: 1.06
Number of winning trades: 2 (40.0%) Average hold time (winning trades): 5 minutes
Number of losing trades: 3 (60.0%) Average hold time (losing trades): 2 minutes
Max consecutive wins: 1 (show) Max consecutive losses: 1 (show)
Average position MFE: $24.98 Average position MAE: $-32.74
Intraday Fundamentals
• Sector play
• Trading around key level of 100
Technicals
ADV 25.51 m RVOL .63 Beta 1.17 ATR 4.25 Short 1% Inst Own 74%
Daily

Hourly

Intra

Trading Strategy
• Look for a long at 98, you would probably not have a lot of time to make the decision if it does not flush through this. If this does flush for a candle or so at the open, take it long as ti tries to rebreak
• 96.50 long as a deep support play
• If this trends up today buy pull backs and take some off every quarter and wait again.
Reading the Tape
I cannot say that there was much tape reading on any trade here. The tape did help me hold the short as it was not looking strong even as it traded against me.
Trade Management

Trade Notes
I was watching this as it finished the sell off from the HoD. I started to slow as it came into the 98.60 and the bounce back into .80 and my SMA. This rejected and came back in showing similar strength in the lower .60s. This is when I needed to work for a trade off the LoD. I decided to wait for a cross of the short term SMA to avoid another hard rejection of that moving level. I would then try to use .75 as the area to work with. A lot higher than was reasonable. I would hack at .75 holding twice and get a little lucky on the quick spike on the second attempt bring these two trades back to even.
I watched this for a long time before taking this. I saw it put in a new LoD and then the relative strength as it moved back into 99. I waited and watched as it battle to break. I took it as soon as it broke. This would have been a nice attempt at a break if I would have tapped out at .90 instead of adding and then adding at .86. This did give me chance at break even after the third add. The chance was very short and it immediately moved away. This would level out enough for me t regain my bearings and short into the break down of 98.50 again.

I would take this short after adding to a break attempt. When 98.50 started to give way again. I took this on large size as I felt this would at the very least test the low around 98.25 at the time. I showed some patience with that size and something I need to reflect on and do some visualization work with. It did not take much longer for this to start to drop. I do wish I would have held for a slightly larger partial. I did take it relieving some of the initial pressure and was able to the next biggest to target slowing scaling some off as it got stronger. I did manage to hold the last bit all the way into 98. This is where I had game planned this morning to take longs.