The Daily Market Forecast... 2nd place rocks!

Thursday’s Blog Results: Neither suggested level triggered.

Quick Tip: Second Place Rocks!

The volume levels suggested in this blog are two of the many on our charts. They are chosen for you, and I think they are the “best” for that day. But I’m not always right. In fact, I’m probably wrong half the time. Kind of like trades.

Which is why Second Place Rocks! The level that produced the winner shorting 4257.25 was a “tertiary” volume level. They represent a significant spike in volume but the minimum for our trading purposes. They work fine, though. Yesterday’s ran for 10-points.

Here’s how this helps you: Create a “grading” system for your trade setups. Make it simple so you can instantly decide. Capture the results data for all trades, even those you didn’t take. One of the data points you’ll keep is the “grade.” Once you have at least 100 trade results for each “grade” you can compare results and limit your entries to the best performers. Keep capturing results for all the setups until you reach 400 trade results each. At this point you can discard the poor performers. The more variations you can document the quicker you’ll improve your results.  

Today’s Best S&P Futures Turning Points:

Short Level: Sell 4356.75 stop 4362.50.  

Long Level: Buy 4258.50 stop 4254.50.  

Trade well,

Mike Siewruk

P.S. Tired of trading alone? Need more quality setups? Join our team of great traders and accelerate your performance. Copy down this coupon code WINTER2022 and save 100 per month for life on your membership. Click here for FREE video training and details.