The Daily Market Forecast... Nifty Evidence

Monday’s Results: Neither suggested level triggered.

Quick Tip: Nifty Evidence

Filtering your trade entries/exits by time-of-day is a great way to optimize your trade selection. The side benefit is that you know when you’ll be trading and when you can focus on other things.

How you look at the data is the key. By imagining different ways to look at “time” you can find uncommon edge.

Here’s a great example: In the histograms above every bar is 30 minutes starting at 8:30 ET and ending at 16:00 ET. The bars represent the average range of that 30-minute time slot in DOLLARS.

Why dollars? Because futures contracts have different “point” values. The ES contract is $50/point. Oil is $1000/point. Gold is $100/point. To compare them you can normalize the ranges to their equivalent dollar values.

By looking at time-of-day this way you can laser-focus your trade entries for each asset to when the most movement is likely to occur. Study those three histograms. Every asset has a different time/range profile.

If you want to take a deeper dive into this type of evidence-based trading filters to improve your edge, join me this Sunday June 12 @ 5PM ET for a free mini-class “All About Evidence.” Click here to register. Seats are limited.

Today’s Best S&P Turning Points:

Sell 4133.50 stop 4138.00.  

Buy 4063.75 stop 4058.00.

Trade Fearlessly,

Mike Siewruk