Can someone tell me if the high or low of day normally happens in the start or ending of the day?

Discussion in 'Programming' started by 1a2b3cppp, Jul 10, 2018.

  1. Over the past 5, 10, and 15 years, does the high or low of the day happen in the beginning or ending of the day
     
  2. SteveM

    SteveM

    By 9:35 AM EST, there is about a 20% chance that the high OR/AND low of the day in the S&P500 has been made.

    By 10:05 AM EST, there is about a 55% chance that the high OR/AND low of the day in the S&P500 has been made.

    By 11:00 AM EST, there is about a 90% chance that the high OR/AND low of the day in the S&P500 has been made.
     
  3. where`s that from?
     
    0SmallTrader0 likes this.
  4. ...the high OR/AND...?

    That's certainly not correct.

    OP,

    Good questions, but you need to answer them yourself.
     
  5. Bill.C.

    Bill.C.

    Yeah I want to know where this is from too. It sounds really cut and dry, and could be useful to know. Though life is rarely this crisp, and in 5% notches even
     
  6. Humpy

    Humpy

    Usually when news is made public concerning that company.
    But those who know before the announcement will have affected the price already.
     
  7. wrbtrader

    wrbtrader

    He probably does his own backtesting on historical data that he has or he got it from a website (subscribes too) that publishes historical / seasonal market tendencies on major market indices, futures or he has data on inter-market & intra-market patterns.

    Another possibility someone else talked about their own backtest results at another forum and he remembers the discussion. :sneaky:

    A serious trader should have that info or can easily get it from their own research of historical data involving whatever it is that they trade.

    Yes...its very useful info to know and maintain by yourself that can be used to develop profitable trade strategies.

    Thinking outside of the box...if you want unusual consistency in your trading (minimizing drawdowns)...you'll know when to switch from one strategy to another strategy when market conditions change.

    wrbtrader
     
    BONECRUSHER and tommcginnis like this.
  8. smallfil

    smallfil

    I know I read from an article that the high and low of the day is usually, established after 30 minutes of trading or by 7:00am ET. That is why a lot of traders, especially day traders use those highs and lows. If XYZ goes above the high, it probably, will go higher during the day, if it takes out the low then, it will probably, go lower. Don't day trade so, do not pay attention to it at all!
     
    Peter10 likes this.
  9. wrbtrader

    wrbtrader

    It can be backtested and you'll see why it's a losing approach for daytraders considering the nature of daytrading itself. Simple example, someone does the study on a technology index but doesn't disclose its the technology index but everyone else reading it will then try to apply it to everything else (stocks, futures, forex).

    By the way, I too saw a report about such and that was November 1989 involving AMEX composite index or maybe it was the Nasdaq Composite (hard to remember...it was a long time ago).

    I think AMEX was purchased by another exchange. Thus, it has a new name or merged into something about 10 years ago. :D

    wrbtrader
     
    Last edited: Jul 10, 2018
    murray t turtle likes this.
  10. Peter10

    Peter10

    I check the s/p 500 immediately after reading this, it seems to work for the past 20 trading days
     
    #10     Jul 10, 2018