The Daily Market Forecast... lose your edge?

Friday’s Blog Results: No short fill. The long level @ 4510 stopped out for a 3.50-point loss (per contract).  

Quick tip: Lose your edge?

Your trade strategies must have “edge,” otherwise you’re gambling and likely losing. The challenge is that edge is not always permanent. You need to be vigilant in your review process and notice when the edge may be fading or gone.

Our team has been relying on some edge that was validated by thousands of trade setups. This past weekend I updated the edge document to reflect current market conditions and some of those rules needed adjustments.

Strategies and trade plans can evolve. If you’re losing confidence in your strategy don’t assume it lost its edge. Research your results database. You might find, as we did, some minor changes to reflect a changing market will bring the edge right back. Learn more about trade plans and edge. Click here.

Today’s Best S&P Futures Turning Points:

Short Level: Sell 4585.50 stop 4589.50 (adjust stop to 4592.25 and reduce size if volatility is high).

Long Level: Buy 4470.50 stop 4465.50

Trade well,

Mike Siewruk

P.S. Does your trade plan need a tune-up? Watch the Ultimate Trade Plan mini-course (free). Click here.