Price action , support resistance does not work in ES

Laissez Faire said:
Not on a relentless trend day.
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%%
WORKS well on a relentless trend day;
may not pull back much like it usually does.
BUT have to realize CME designed ES for trading+ many of ES traders read the same books we did, so i like stuff like etfs + leveraged ETFs that may pay a small dividend + may decay a bit depending how relentless the trend is............................................................
I like CME silver + copper benchmarks better/ but cash markets mostly on those. I thought it was bit strange, the metals dealer helper took out her pen + upped the price of cash copper; so i said ''thanks''
 
Overnight said:
Dude, you kidding me? I scratch my cat on the belly and it starts raking my face/arms with it's hind-legs when it has had enough.

I ain't doing that hind-leg jerky reaction with a Kangaroo. It would decapitate me.

Every animal life-form in Australia will kill you if you are not careful.
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Could be worst...you could have messed with a horse.


wrbtrader
 
Overnight said:
It's a full moon tonight and tomorrow. Does that help?
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Well sort of. Dirt will be left over when planting a fence post on waxing (increasing) towards full moon and post will thus become loose afterwards. However, if planting the post on the waning (decreasing) moon there will not be enough dirt to fill it back up because of exceptional hard compaction and the post will be tight and not loosen up. How that applies to trading I am not sure. Maybe need wider SL’s on waxing moon and can use tighter on waning moon? LOL so, full moon max SL needed??
 
wrbtrader said:
I think a trader that designs one system can just as easily design a few different systems in which each works in different types of trading conditions instead of trying to design one system to work in all types of market conditions as in one size fits all.

Thus, one system for what you refer to as "normal days" and another system for "volatile days". Simply, on volatile trading days...the other system for "normal trading days" shouldn't be giving any trade signals or far below what it normally would have signaled.

Just the same, I've seen system designers change their systems whenever market conditions change although that would then imply the trader is just as important because the trader will then need to understand the price action to know when it's time to change / switch to another trading system.

Note: I'm referring to automated system traders.

wrbtrader
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Don’t forget the “moon phenomena” as ON brought up.
 
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