Tuesday’s Results: The suggested short at 4118.50 stopped out.
Quick Tip: Why Review
Years ago, I was urged to get in the habit of daily review and documentation. All the trades my strategies teed up, not just the trades I took. It has paid off big time. The database I mine for edge now is over 12,000 trade setups taken in all market conditions. It’s easy to pick a date range where certain market conditions prevailed and analyze it.
Take the trade mentioned above that stopped out. That was a reversal trade that triggered at 10:52 ET. Historical evidence shows that reversals at that time are poor performers. Filter them out.
When you start using filters based on evidence, your attention may focus on the trades you filtered out that were nice winners. You’ll likely double guess the filter. Keep in mind the sample size your filter emerged from. Don’t get mislead by occasional events. Re-focus on all the losers you didn’t take!
Today’s Best S&P Turning Points (in fast moving markets consider a wider stop and less size):
Sell 4147.00 stop 4152.75.
Buy 4076.00 stop 4070.25.
P.S. What’s more important in trading? Math or emotions? Learn how to change your unwanted behavior here.