Quote from Lucias:
The best markets (for me) as a day to swing trader are volatile bull markets.
During low volatility bull market.. one can only buy and hold. Real bear markets become almost too volatile and risky to trade.
So my favorite market is a volatile bull market. These are the best markets for me or volatile sideways markets. I've been doing well but the market is starting to turn more truly bearish which concerns me and has start to hurt my performance.
I'm looking at the 1218ish area being the low for the rest of the year. I think if we break the recent (5-6 day lows) that things would get ugly real fast.
Really you have a few types suited to styles
Low volatility trending markets -> trend following
Range bound and higher volatility -> day and swing day trading
Super volatile markets -> day trading only
A bad day for a trend follower on a longer time frame is typically an opportunity day for a day trader.
This is one of the best post.. much better than those troll or little bicycle trade.
Volatile Bull Market is the best and easiest profitable market you can find, just buy the damm dip and you will be ok.
One thing to add, I normally don't trade in "Super Volatile Market" - too much risk and un-controllable, it is no different from a trip to Las Vagas.
For 1215-1225, I won't go in as the market will shot either way due to this known "herd" pivot ponts (indeed most of the ET here are herd, eitehr they want to admit it or not). You can't fade trade at that range as well as it will so volatile and will shake you out before it make any real move.