Levels, support/resist are all important in trading ES. Levels are NOT indicators. Levels are areas of "INTEREST" relative to the players psychology about fear or greed, fight or flight, basic human shortcomings in a modern society.
Susana asked for NO indicators, good for her, she made my Christmas list.
I will not go into the whole deal about non indicator trading but suffice it at this time to understand that 'levels" are what makes a winner. There is an "ART" to spot the levels of interest the other players will take action when reached. A daytraders job is to be prepared when the level is hit and have ammo dry and ready to go. Predicting with very favorable odds what the other players will do at a certain level is what you want to know. No rookie whizkid is going to pick up the "ART" in a few months or so, be patient , very patient.
I hope Susana keeps this going and we all stick to what she wanted. She wanted ES, not prunejuice futures. Different instruments trade different because the players are different. ES has a real live hedger backing where ER2 does not. Bonds and notes trade different because the players have different goals etc, Do Susana a faver and stick to knitting, lets give a thread that is MINUS indicators a hand. Learn more faster from pure price action, thats a mkt truth.
PS: to the guy that said he uses pivots also. Pivots are nothing different, they are support/resist based on yesterdays levels. same deal different name.
Susana asked for NO indicators, good for her, she made my Christmas list.
I will not go into the whole deal about non indicator trading but suffice it at this time to understand that 'levels" are what makes a winner. There is an "ART" to spot the levels of interest the other players will take action when reached. A daytraders job is to be prepared when the level is hit and have ammo dry and ready to go. Predicting with very favorable odds what the other players will do at a certain level is what you want to know. No rookie whizkid is going to pick up the "ART" in a few months or so, be patient , very patient.
I hope Susana keeps this going and we all stick to what she wanted. She wanted ES, not prunejuice futures. Different instruments trade different because the players are different. ES has a real live hedger backing where ER2 does not. Bonds and notes trade different because the players have different goals etc, Do Susana a faver and stick to knitting, lets give a thread that is MINUS indicators a hand. Learn more faster from pure price action, thats a mkt truth.
PS: to the guy that said he uses pivots also. Pivots are nothing different, they are support/resist based on yesterdays levels. same deal different name.
