It was a general statement Yes..the ES is one of the best markets to trade at certain times..but not for those who do not have a good deal of experience with short term trading..for example..if you think that you are going to daytrade the ES using standard TA like MACD and Stochastics..then you really might be get some very bad disappointments Also..if you are still at the stage where you hold on for another "little bit" to see if it comes back..then you really should not go near the ES Suggestions..truth is they will more than likely do you more harm than good..as.."one man's treasure is another man's garbage"..but as you asked..you may want to look at the $TICK at certain times
I do not think so..although it might be an interesting read! The more you discover the more confused you will be..the best thing is to forget everything you have learned so far and go back to the basics..if you are not sure what the basics are..then..surely you would not risk any of your money in any market!!!
Do not get "sucked" into the excitement and rubbish talk about things that have nothing to do with you making..or losing..money! If I was you I would do the opposite..pick just 1 stock..one like I mentioned..for obvious reasons..and..I will go as far to say that I am about 90% certain that you will make some money..how much and in how long will be determined by your approach and what you use to decide when to enter and exit a trade..the elusive BLASH & SHABL
OH BOY>... this yo said is gold If I was you I would do the opposite..pick just 1 stock.. yup, I trade one instrument. If I wanted to trade something else, I would, but only one at a time. I think these traders with all the computer screens are crazy. You can only focus on so much at a time. I believe if you trade one asset, over time you get to know it well... Good Advice MrScalper
I think MTFA is where its at too. There are boxes on the 1 minute and on the hourly. This is something that I am still trying to understand how they fit together and how they effect each other. I am a big fan of point and click adventure games. The market is like a puzzle game that I am trying to solve. It just sucks how expensive it is when your solution is wrong.
I guess price in the lower time frame is trying to fulfill the goal of the higher time frame. The goal being to take price from support to resistance so that the original higher timeframe buyers can close or reverse there position there. The lower timeframe will have its own peaks and valleys within the s/r framework of the higher time frame, these are the result of lower timeframe players i guess. It gets tricky for me to understand how and when the lower time frame will override the higher time frame objective, just cant wrap my mind around it yet. Also struggle with identifying accumulation / distribution. What a puzzle this is...
Look at the price action over night. We rallied to 20.50 which was the last support lost yesterday. We sold off from there. We sold off again when we came to that area. Next attempt we broke through and traded all the way up to 29 which is the next support lost level. From there we are selling off again.