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What does it mean for traders? The Stanford Magazine has an article an the work of psychologist Prof Carole Dweck who argues that the key to success lies in how you deal with failure. http://www.stanfordalumni.org/news/magazine/2007/marapr/features/dweck.html

Interesting robin. My own expectation is that the indexes will go up and down ... and those with trading skills will be happy about it.

LOL. Thanks for that.

Sadly, JimmyJam, like his name, is so dumb that he doesn't understand the meaning of either "quote" or "blurb." That makes his inability to understand and his fawning worship of Jack more understandable. :)

Actually trading and gambling are close to identical in many respects. Same statistics, differences for particular games but one could create a horse race where the bets were placed at times other than the start and judged at times other than the finish. Can you get an edge? The question in...

If you want to say fucking .. just say it .. don't be a pussy. --------------------------- Re trading wits with Tums ... I think the round went to firestorm when he caught Tums out on the cheap (very cheap) attack on his wife before Tums removed it. "Quote from Tums: since you are...

No. It is a lovely day on the Gold Coast here in Australia. PS. All newbies should immediately take up trading Jack's way. Please use it to trade the Hang Seng and Nikkei.

After watching your chatroom ... why do you think it is the case (different reasons for different groups are acceptable)?

I agree on the first paragraph - that you must train your brain to perceive the things you need it to so that you may succeed in your method. That's why I see that for Jack's followers the belief that they do not predict is useful. That doesn't make it correct. Belief in Christ's...

Somewhat. I was trying to clarify the idea of distortions when you are expecting continuation (even if u are just expecting continuation of perceived reality (eg A, B or C will happen today)). The thing about the minds distortions is they may or may not be at a conscious level. Examples...

Easily. You weight the coin so that 80% of the time it falls on the side you profit from. Such a coin is as embarrassing to ms (a non-surfer judging by his attacks on trends) as his endorsement of that low grade oil selling fake turtle. Note for mb: Trading with the trend (not...

A good understanding of prediction in unconscious action. The only thing missing is the interesting distortions the brain creates when one is expecting continuation and it doesn't occur. Such an event might be ones mother dying or a market moving event - failure to perceive the occurrence...

Jimmy, As per the op's definition you are just a robot system operating within the designers prediction based framework. Operationally your beliefs may be useful but to deny the presence of prediction is just self deception. Useful to you but no less present.

But it is affected by news? And where was it said that Jack's 100% certainty is limited to S&P? Its interesting to have a 50 page long argument between those who understand the english language, statistics, and the world and those who deliberately deceive themselves for a functional...

"becuase it always, and 100% of the time generates some profit" That's a prediction because moments can occur in the market (a major unexpected news event say, a large buyer in a thin market) that will rule even the most certain certainty wrong that time.

Spyder, A good post and I trade in much the same way (I never know which of the possible things hsi can do it will do and I try not to care). But, going back to the original post, we are both still relying on a prediction that the real time sequence results will generate a similar profit...

Here are the snail tracks of a pointone predicting.

Put a couple of emas or smas on the chart and mess around with their values until they seem to represent minor and major retracements in the trend on that time scale chart. Trade only in the direction of the trend You could no doubt substitute t3s and a variety of other types of moving...

If you have a good strategy and you're well attuned to it then posting fills in some of the gaps while you wait for the move to evolve.

If hes a conservative day trader or even very short swing trader then this could easily be true. I aim to never have a day without a profit and seem to be able to do 7-10 in a row - then I make enough mistakes in sequence to reduce the euphoria. :)