ES Part 2 People are far less objective than they think they are. This is well studied and worked out by the experts who study human behavior. Generally we establish "objectivity" through comparisons. In this ES market I am trying to establish the support and resistance of the market as objectively as I can using range boxes as well as other tools. Normally I don't factor in news and policy changes when I trade. However, I think the news will generate volatility and price action from which I can trade the market using my tools. If Trump or Biden are elected, this signals policy changes which will not only increase the volatility, but the fundamental differences in those policies are likely to produce substantial expansion of the market in different directions, but either way there will be wash and rinse the buyers and sellers and range boxes which will decide where the buyers and sellers are, and you will be able to trade accordingly. In the Forex markets, it is the policy changes that frequently propel the market in a certain direction. When I started trading the Forex market years ago Japan made a policy change, and When That Policy Was Announced I didn't appreciate the significance, and while I thought it would move higher, I completely missed the significance of that policy and never thought that that would be the low that market for years to come. I spent most of my time thinking about markets without a lot of attention to the news, and to policy changes, but sometimes it really is important to give some thought to policy changes if you can.
There is a well-known trader who is still active, Larry Williams. I do not know him personally but I have known about him for years, and many years ago went to a financial conference where he was one of the speakers. I never really followed him, but it turns out he is friends with Larry Pasavento who became my mentor many years later. Larry had the utmost respect for Williams. The reason I bring this up is that Larry Williams made his fame technically trading in a contest and beating everyone else. I remember some years later when Larry Williams was established he wrote an article that I read where he said that a good trader needs more than just technical, and that there is indeed to be aware of the fundamentals of a market, and that is not all were none that makes a trader successful.
There is a well-known trader who is still active, Larry Williams. I do not know him personally but I have known about him for years, and many years ago went to a financial conference where he was one of the speakers. I never really followed him, but it turns out he is friends with Larry Pasavento who became my mentor many years later. Larry had the utmost respect for Williams. The reason I bring this up is that Larry Williams made his fame technically trading in a contest and beating everyone else. I remember some years later when Larry Williams was established he wrote an article that I read where he said that a good trader needs more than just technical, and that there is indeed to be aware of the fundamentals of a market, and that is not all were none that makes a trader successful.