Out of curiosity: do you use this only as analysis tool? Or do you also place trades based on this analysis? And make profits?
Change the OR to an AND then remove & replace the question marks with exclamations while everyone looks at you like you've gone completely nuts.
Jack's earlier works are solid.
This is a personal endeavor to understand his life's work. His final iterative refinement proves to me on a personal level that there are no flaws, anomalies, or randomness in the markets. It is orderly and must be so, otherwise no one would do business if they didn't trust it. The market goes through an ever repeating order of events that place one in a continuum - What am I observing now? What came before? What can I anticipate coming next? Through the process of drills, annotating, logging and debriefing one can teach themselves building on what they know and have proven to be true. There is a lot of bar-by-bar testing that occurs. It's like cramming for the finals when you haven't gone to any of the classes for any of your subjects,... F*ck
So take your smartpills, exercise, meditate, yoga and powernaps.
The method he outlined is a way of contextualizing the market that is insightful to say the least. He's also made it inaccessible to the greedy, the self-aggrandizing, the selfish, it's designed to extract monies from this group of participants. It's designed to create surplus from scarcity but doesn't scale in the way that most people understand scaling. It's designed to be distributed to affect change on a local level. I know it sounds weird but the truth of the matter is that there are things that one must suss out for themselves and when they do they realize the absolute necessity of it. The method works or doesn't, the individual and their being is the only determining factor.
I've gone through 50% drawdown before I came across Jack's writings. That quickly turned around. Most of his stuff I couldn't understand at first, but the pieces I could make sense of became very useful very quickly. Slowly, I just started do all the drills I came across. There have been sleepless nights, 2 relationships that wouldn't tolerate my quest and an entire world of disagreement.
Com'n as an amateur retail trader, I'm up against the biggest, the best, the brightest and the most well-funded.
I glad I'm on my side and wouldn't trade it for the world.
And here's why;
Since 2012, morning, day and night, Purposeful Learning became my motto and I would assess whatever I was doing to that standard. Slowly at first, following a lot of Conventional Wisdom. What the got me was a 20% drawdown and three yrs gone. Not so quickly realizing that maybe CW isn't what it's cracked up to be. Maybe there was some insider view that was missing. I sought out a mentor, came across bravado and boast more then substance. Gurus seemed unwilling to teach how to fish, instead enjoying to dole out fishes instead.
Certainly not all. My belief is that there is more good than bad and lot's of well-intention folk just not receiving the right guidance to make a difference for themselves.
Expanding one's level of discernment is an ever-refining activity.
I'm grateful for ET and all the folks who through a shared vision of discussing the markets and has within it's vaults the philosopher stone. It's certainty turned the lead of my awareness into a golden light that more than illuminates my way and by example uplifts others.
For my particular personality, it's taken about 2yrs for me to finally understand most of what Jack was communicating. (I'm pinching myself to see if I'm dreaming)
He's clear. I wasn't. I am now though!
Maybe Jack's writings don't resonate, that's cool. The idea is to find the concepts that do resonate and pursue it !
I saturating my consciousness until one day I woke up and it all make perfect sense. What a great day!!
Jack speaks true about the unconscious as integral to learning.
Lately my attention has turned to exploring the variety of things money can't buy,...
Opening one's mind through stimulating thought is pretty high on the list. The effects are far-reaching, pleasurable and extremely satisfying.
All parties win so let the REAL party begin!
