Shared by
E-Money
4/30/18
MCD
Direction was right, target of $168 was reached at the end of the day. Multiple entries to get long at the end when it bounced off $165, twice, but missed them. RSI divergence after bouncing off of $165 near 3:00 pm should have been the cue to go long.
$165 was the support level that I should have paid attention to, not $166. Stop loss should have been placed underneath $165. Trailing my stop loss was probably not the best idea; in retrospect was too tight. Need to let winner run, stop was trailed too soon.
FU move at 11:08-11:09 was unfortunate BUT it did not violate my original thesis to go long (it never broke $165).
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2018-04-30 09:41:02 | MCD | buy | $165.520 | long |
| 2018-04-30 09:55:48 | MCD | sell | $165.260 | 0 |
| 2018-04-30 10:00:03 | MCD | buy | $165.600 | long |
| 2018-04-30 11:08:41 | MCD | sell | $165.650 | long |
| 2018-04-30 11:09:04 | MCD | sell | $165.590 | 0 |
| 2018-04-30 15:11:30 | MCD | sell | $165.620 | short |
| 2018-04-30 15:12:07 | MCD | buy | $165.700 | 0 |
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