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Codifying SCT
- Thread starter Joe Doaks
- Start date
This is a personal note from me to Jack not meant for the rest of you, so please respectfully pass over it.
Jack, I understand deleting posts. I have deleted more posts than I have let stand. And I have quit ET more times even than you. Perhaps quitting ET was your New Year's resolution. Or perhaps, like me, you realize what a terrible addiction ET is. I could easier quit consorting with whores and publicans than I could quit ET permanently. So you have my profoundest sympathies on your own struggle with ETtiction.
Jack, I understand deleting posts. I have deleted more posts than I have let stand. And I have quit ET more times even than you. Perhaps quitting ET was your New Year's resolution. Or perhaps, like me, you realize what a terrible addiction ET is. I could easier quit consorting with whores and publicans than I could quit ET permanently. So you have my profoundest sympathies on your own struggle with ETtiction.
He may have had a horrible realization. First Todd embraces the basics of SCT but not the full improbable canon. Hypo et al. adapt CodSCT. JJ espouses SCT Lite. What is next? 28 and 666 come out with their own versions? The whole B-Team finds ways to fuse their own stuff with the useful parts of SCT? Then what is SCT?
Mark my words: a new definition of SCT is coming soon from Jack that distances itself from us base defilers!
Mark my words: a new definition of SCT is coming soon from Jack that distances itself from us base defilers!
I guess no one captured Jack's ATS chart before it evaporated (evaporware?). But like all of Jack's stuff, it is burned indelibly into my sick brain. I remember every facet of it. And to show Jack that I appreciate him posting it, I have a few helpful comments.
1) It did not go unrecognized that he stole without attribution my approach of changing the background color of the chart on the bar of the trade, even using the same undistracting pastel colors that I did years ago
2) He has not yet learnt that no volume is too small to trade (if it moves, you trade it), a valuable lesson going forward in this environment
3) This supposedly beginner SCT still has no stop or SAR, allowing a breathtaking (and probably tradeable) decline on the second trade (long) before resumption of the uptrend
4) The whole chart would benefit from a "Teach Me to Trade" stoplight for comprehension (but then it would look too much like MY charts, wouldn't it?)
5) He predictably picked an easy day for the example (there have been some doozy whipsaw days that stumped the ID gang that would have been better)
6) Finally, I am astonished that he has bars labelled "no trade" (could this be an unauthorized use of my copyrighted Ternary Decision Theory that says when to stand aside?)
Could it be that Jack learns from the disloyal opposition? Shudder! But on second thought, the notion emboldens me to reserect and promote some of my more outrageous disventions!
1) It did not go unrecognized that he stole without attribution my approach of changing the background color of the chart on the bar of the trade, even using the same undistracting pastel colors that I did years ago
2) He has not yet learnt that no volume is too small to trade (if it moves, you trade it), a valuable lesson going forward in this environment
3) This supposedly beginner SCT still has no stop or SAR, allowing a breathtaking (and probably tradeable) decline on the second trade (long) before resumption of the uptrend
4) The whole chart would benefit from a "Teach Me to Trade" stoplight for comprehension (but then it would look too much like MY charts, wouldn't it?)
5) He predictably picked an easy day for the example (there have been some doozy whipsaw days that stumped the ID gang that would have been better)
6) Finally, I am astonished that he has bars labelled "no trade" (could this be an unauthorized use of my copyrighted Ternary Decision Theory that says when to stand aside?)
Could it be that Jack learns from the disloyal opposition? Shudder! But on second thought, the notion emboldens me to reserect and promote some of my more outrageous disventions!
Right, JJ, just jealous! But you really should read his stuff. Long ago I perfected a bullshit filter for his posts that picks the gold from the dross. And there is some gold there. For example, "right-side" and "left-side". Very compact expressions.
It has been suggested to me on a non-attribution basis via PM that Jack should consider giving his re-invented SCT the title Stopless Hershey Intraday Trading.
It has been suggested to me on a non-attribution basis via PM that Jack should consider giving his re-invented SCT the title Stopless Hershey Intraday Trading.
JJ, my head hurts ALL the time, so Jack doesn't bother me. I long ago got past his insufferable egocentrism, social piety and outrageous claims. Once I determined from careful reading that he doesn't actually trade, and realized that he is really only a theoretician, I got a different perspective. Examining the hypotheses he asserts as truth taught me that to study him is heuristic. I have found many useful truths about market action from testing his hypotheses.
For example, is the limitless potential of "pool extraction" a reality? One can measure that potential exactly, and I have.
Is 6X the daily range possible? One can measure that potential exactly, and I have.
Is 5-minute charting the best tradeoff between noise reduction and lagging entry? One can test that assertion exactly, and I have.
Is the PV relation truth? One can test that assertion exactly, and I have.
Now regardless of whether or not what Jack asserts is truth, I have found truth from questioning him.
For example, is the limitless potential of "pool extraction" a reality? One can measure that potential exactly, and I have.
Is 6X the daily range possible? One can measure that potential exactly, and I have.
Is 5-minute charting the best tradeoff between noise reduction and lagging entry? One can test that assertion exactly, and I have.
Is the PV relation truth? One can test that assertion exactly, and I have.
Now regardless of whether or not what Jack asserts is truth, I have found truth from questioning him.
Oh, JJ, you have to get in the spirit of ET. It's like the spirit of Christmas: all pretend. Where is EliteBrainSurgeon? EliteRocketScientist? EliteTestPilot? Only in the world of trading is it possible to believe that wishing will make it so. The very best wishers can become gurus or Ponzi managers.
This B-Team is absolutely incorrigible! Here I am trying to teach them some SCT and they refuse to even listen! Lalalalalala with hands over eyes!
BTW, now that I am a true believer myself, I have started slogging through Iterative Defilement every day. Even posted nicely there, but they cast me out unceremoniously.
Hoped that they would at least comment on my NQ results today, show me up with their ES. But strangely, they don't appear to have been trading. Paid too much attention to Jack's bugaboo about trading in low volume I guess.
Oh, and where is Neoxx? Get discouraged without adult supervision?
BTW, now that I am a true believer myself, I have started slogging through Iterative Defilement every day. Even posted nicely there, but they cast me out unceremoniously.
Hoped that they would at least comment on my NQ results today, show me up with their ES. But strangely, they don't appear to have been trading. Paid too much attention to Jack's bugaboo about trading in low volume I guess.
Oh, and where is Neoxx? Get discouraged without adult supervision?
I wish to express my profoundest appreciation to 666 for providing us links to recordings of Jack speaking. It all makes so much more sense now when I go back and reread old posts in his voice. And I have perfected the illusion of Jack calling out SCT annutations in my head. Also, I have another confession to make. I have embraced "always in". And quit using stops. I have learnt to flow with the go.