Making JH' SCT and all his material alive

[baro-san]

This is a journal for sharing, with the goal of accomplishing the work required, and with the tools of Jack Hershey’s SCT. We will not be discussing anything but this topic in here.



In an effort to make Jack’s material still alive, and the with the will to reach a level in which « there is no reason not to be in the market at each and any time », we will try to make a journey through the entire methodology of Jack, from scratch.

I must warn you of one thing : English is not my native language, so my english comprehension is limited sometimes. I try to be as understandable as I can but this is quite an effort for me most of the time. So please bear with me and let’s try to be intelligible for all.

I encourage then anyone willing to engage himself or herself in the process, in order the get the AHA moment, and will begin an updating of everything I know for sure, for then going towards the resolution.
Anyone just curious or totally noob on the method is welcome too. Beginning from scratch is where resides fertility.



All the provided here, and in the next messages that will inaugurate that thread, is based on my comprehension of the SCT and Jack’s material .The main sources are the following :

https://www.elitetrader.com/et/threads/sctlearning-from-scratch.282221/

https://www.elitetrader.com/et/threads/market-system-of-operation.280654/

https://www.elitetrader.com/et/threads/i-am-getting-my-butt-handed-to-me-on-a-daily-basis.275733/

https://www.elitetrader.com/et/threads/spydertraders-jack-hershey-equities-journal.38777/

https://www.elitetrader.com/et/threads/spydertraders-jack-hershey-equities-journal-ii.56555/

https://www.elitetrader.com/et/threads/spydertraders-jack-hershey-equities-trading-journal-iii.83605/

https://www.elitetrader.com/et/threads/spydertraders-jack-hershey-futures-trading-journal.83604/#post-1309674

And add the « Building Minds For Building Wealth » and « Channels For Building Wealth» PDF documents that you’ll find in the links listed above.





Some generous people who have helped me with the work that is to be done, consider now that my work could be a light for other people working silently on the method too, and that other people could be a help for me. Time to share.

I am ready and happy to share with you all the material I have. The goal is : reach the point when there is no reason not to be in the market at each and any time.


I will be soon posting a series of 6 Messages, each corresponding with the plan that follows :

1 – The fundamentals

2 – The independent variable

3 - The dependent variable

4 – The price volume relationship

5 – MADA routine

6 - Problems





The work is HUGE. But I know it worth it. Then for all of you guys, willing to join the journey, I’ll be happy to share with you. Feel free to share any material linked to JH method, or any comprehension of the method that you have in mind. My goal has two levels : solve my problems, and help anyone with its own problems.



NB : I will not begin really from scratch in what I'm gonna post ; some things will be implicit. I suspect new workers on that stuff to ask me some more details to understand the whole I'm gonna provide, and confirmed workers of the SCT to understand what is sometimes, between the lines.



So here will be an attempt to transmit all I have in a effort to share, help and be helped. Here we go.

People miscommunicate all the time, and the written dialogue is even more prone to miscommunication.

For example, when I read your opening post on this thread (quoted) I thought that you are an advanced trader of these methods, and intend to share your knowledge here. The boldface seemed even a stronger indication of that.

You actually proved to be asking for help. You can't afford to antagonize those who show an inclination to help, or you'll lose them. I suggest you try to resolve future misunderstandings from the position of the pupil; you aren't on an equal footing with those who teach you.

 

[NeedToLearn]

Question 2

PP3

Okay.

You get two P1's one after another, no exceptions.

Volume lands BETWEEN the two P1 values on the third bar of the trend.

PP3a

Same as PP3 except........

you have a wait in the form of a lateral BEFORE you get the T1.

-> is that last T1 a tipo ? It's not about T1s here on PP3, but about P1's. Lost here




Referring to the question you made above...

 

[Simples]

Question 2

PP3

Okay.

You get two P1's one after another, no exceptions.

Volume lands BETWEEN the two P1 values on the third bar of the trend.

PP3a

Same as PP3 except........

you have a wait in the form of a lateral BEFORE you get the T1.

-> is that last T1 a tipo ? It's not about T1s here on PP3, but about P1's. Lost here




Referring to the question you made above...

There is t1 implicit in pp3 as well.

This become clear when you work the material.

 

[tiddlywinks]

Question 2

PP3

Okay.

You get two P1's one after another, no exceptions.

Volume lands BETWEEN the two P1 values on the third bar of the trend.

PP3a

Same as PP3 except........

you have a wait in the form of a lateral BEFORE you get the T1.

-> is that last T1 a tipo ? It's not about T1s here on PP3, but about P1's. Lost here




Referring to the question you made above...

I looked through a couple days worth of charts on 3 different instruments. I did not find a PP3a, a couple close ones, but I do not want to confuse the issue with a pic snip of what is not.

IMO, PP3a is more about proper handling of a Lat 3 than anything else. The EE sheets and the posted description for PP3a do not differ. Therefore, imo, there is no tipo-typo.


PP3a
-------
......... L1..... L2..... L3
P1 -> P1 -> w -> w -> T1

The T1 is the Lat BO. Otherwise, waits do not occur within laterals, and a "normal" PP3 occurs or not.

This is one of many pieces of minutia... stuff that is important to know the existence of, but not anything to dwell on. Additionally, PP3a is not n-1 or n as far as turns. When it occurs, it occurs. If you miss it, the self correcting nature of the method will fix. Or.... you lose eleventy-finzillion USD's.

 

[NeedToLearn]

Thank you very very much




Question 2

PP3

Okay.

You get two P1's one after another, no exceptions.

Volume lands BETWEEN the two P1 values on the third bar of the trend.

PP3a

Same as PP3 except........

you have a wait in the form of a lateral BEFORE you get the T1.

-> is that last T1 a tipo ? It's not about T1s here on PP3, but about P1's. Lost here !

Thank you very very much



Thank you very luch for chiming in a little but I cannot find where I suggested PP type ending event would be only about P1... nor do I understand the sens of that sentence. Can you help please ?

 

[Sprout]

This is one of many pieces of minutia... stuff that is important to know the existence of, but not anything to dwell on. Additionally, PP3a is not n-1 or n as far as turns. When it occurs, it occurs. If you miss it, the self correcting nature of the method will fix. Or.... you lose eleventy-finzillion USD's.

I agree with the sentiment. Although the Modrian doesn’t list PP3a as an n-1, it can be can be on a n turn as a failed ID locate, thereby advancing a trend.

 

[tiddlywinks]

This is ironic.

Here is a PP3a that was the launching point around 9:30am pst on RTY.

Nice example of what you said too... Not in Modrian table as n-1, CAN BE n turn.

For those that know some of my "quirks", you can also see where I used a BOT1, and how only AFTER a fanning, were BOT1 requirements met.

 

[WchPl]

I am trying to gather all the informations I have to get the EE's and PP's.

I'm struggling witht he part on OB. It is not a surprise as I'm still a bit blocked on it when I do VTP. But anyway I feel things on that knowledge area become clearer.

Apart from that, I have a problem on my 1 chart posted, on the 3rd bar from the right, P1. Is that P1 correct ?
In my VTP document, made by JH, it is said : "After a T1 the next peak is a P2 or P3 and never a P1. This forms the A band of bands. A P1 may follow a P2 if it exceeds the prior P1. P2's can follow P2's if the prior P2 is exceeded. "

I founded the P1 I'm talking about, from that explanation. It seems ok to me, but not a 100%.


PS : the more I work on it, the more my eye is getting confidence and ability to understand and see that there a very little finite universe of possibilities at each and every time. Not saying it seems to always end up with A vs B options, but almost.

 

[NeedToLearn]

I am trying to gather all the informations I have to get the EE's and PP's.

I'm struggling witht he part on OB. It is not a surprise as I'm still a bit blocked on it when I do VTP. But anyway I feel things on that knowledge area become clearer.

Apart from that, I have a problem on my 1 chart posted, on the 3rd bar from the right, P1. Is that P1 correct ?
In my VTP document, made by JH, it is said : "After a T1 the next peak is a P2 or P3 and never a P1. This forms the A band of bands. A P1 may follow a P2 if it exceeds the prior P1. P2's can follow P2's if the prior P2 is exceeded. "

I founded the P1 I'm talking about, from that explanation. It seems ok to me, but not a 100%.


PS : the more I work on it, the more my eye is getting confidence and ability to understand and see that there a very little finite universe of possibilities at each and every time. Not saying it seems to always end up with A vs B options, but almost.

PP1b may need a debrief. After the first T2P, what is required for next bar to be T2F vs T2P?

 

[Sprout]

I am trying to gather all the informations I have to get the EE's and PP's.

I'm struggling witht he part on OB. It is not a surprise as I'm still a bit blocked on it when I do VTP. But anyway I feel things on that knowledge area become clearer.

Apart from that, I have a problem on my 1 chart posted, on the 3rd bar from the right, P1. Is that P1 correct ?
In my VTP document, made by JH, it is said : "After a T1 the next peak is a P2 or P3 and never a P1. This forms the A band of bands. A P1 may follow a P2 if it exceeds the prior P1. P2's can follow P2's if the prior P2 is exceeded. "

I founded the P1 I'm talking about, from that explanation. It seems ok to me, but not a 100%.


PS : the more I work on it, the more my eye is getting confidence and ability to understand and see that there a very little finite universe of possibilities at each and every time. Not saying it seems to always end up with A vs B options, but almost.

You're EE catalog is not matching the descriptions on the PP! sheet. You'll have to go through and determine which ones.



https://www.elitetrader.com/et/thre...is-material-alive.320588/page-24#post-4723146

Where you said, 'got it', you'll have to get it again and amend your charts.