Objections to SCT

[jack hershey]

Quote from doli:

One mystery that might be cleared-up is:
What is meant by 3 times the daily range?
Is that 3X intraday-high to intraday-low?
Or is it 3X the movement, for example,
if something goes up, then down, then up,
does 3X the daily range mean 3X the up + 3X the down + 3X the final up?

making money has to do with price movement. This is price going up and down all of the time.

the optimum can be stated by using a standard of measure.

the standard of measure that you use can be anything.

the rest of this post for you will be something else.

My glider cost about 110,000 thousand. A poster who uses SCT said he made 100,000 dollars plus three times this year so far in his day's trading. A day trading for him once in a while would let him buy a glder from his day's earnings.

So you see there is no standard set in the above paragraph and you still know nothing about how SCT can make money by using a standard. I saw a print at the last IBD meeting that showed 84,000 plus dollars at the bottom as the day's take. That does not help you see the standard either.

the standard I use for business pruposes and for chatting about making money is the daily range.

daily and range are words.

They appear in trading glossaries. There you will see equations that use standard symbols. BY knowing the symbols you an use them to get values off of graphs to plug them into formulae that you see under the definitions in glossaries.

I think that you may get what I said.


H-L is the daily range for most people and it is a standard that I use.

Know you know that.

How many contracts did the guy who made 100K use? How many contracts did the lady who made 84K use? You do not know. You cannot figure that out.

i suggest to people to learn SCT because if they are effective and efficient they can make so much maoney in a day as a consequence.

I cannot explain that to you because you cannot understand the language that traders use for many reasons.

this is just ball park talk

If you know the daily range is H-L and you know that a person using a given method makes a portion of the daily range then you know how much you can make using the method if you can trade the method.

If I list 80 edges for you and I list the money made per day in terms of the daily range, then you know what people usiong each edge are making on a given day. Should I attach that chart? No, it would be OT.

Are we ever going to know what the OP makes per day?

Who knows? So far he did not do any trading for a day.

If he posts here for the next 100 days what he made then you will know his performance in terms of the daily range because you know the sum of he daily range and the sum of his profits and you divide one by the other and you now know his performance as a quotient with units of points per points which is a numeric.

Would any one trade a value of 1 or 2 or 3??? Maybe maybe not.

You may have a value for your method.

The value is called a result by those who do it and it is called a claim by people who are not doing it. That is a trading tradition.

I hope the humor in my posts is not overpowering the message.

 

[Thunderdog]

Spyder,

Thank you for your response to my post. We do seem to agree at least in principle on some some matters if not others. But let me ask you this. You probably know Jack better than anyone else here, and you regularly try to smooth over and digest his effusive verbal cabbage. In all honesty, what do you think is his motivation for doing so? Why does he intentionally pose as a barrier to the "pay it forward" theme that he purportedly espouses and gives so much lip service to? We all have contradictory tendencies of one kind or another, but his seem to defy comprehension.

 

[jack hershey]

Quote from doli:

Another thing we encounter in life is people who say what they wish were true rather than what is true.
How does spyder's post cover the bases?

One at a time; that is why it is so good.

Your posts are actually more than anyone can resonably expect.

And they are so timely, even for people with short attention spans.

 

[PoundTheRock]

I think people are still confused about the difference between an edge-based strategy and a framework. Take the example of Drummond Geometry (DG), an "always in" methodology that requires a minimum of three months to learn and years to master. The difference between DG and SCT is that the former is a mature methodology with defined market structures and the latter is still unfolding in its development. Wyckoff and Hurst are other examples of frameworks that provide a macro structure to the market without those pesky implementations of entries and exits. So where does edge-based testing fit into a framework? Well, your framework edge is a compilation of edges derived from your interpretation of market action at any given point in time, essentially a combination of trending and non-trending techniques. I developed a pretty interesting system that strung together different signals on different time frames, for example, a countertrend system on a daily cycle overlaid on a breakout system on an intraday cycle, which had to be evaluated on an either-or basis. For example, what is the likelihood of an ORB short working on a 5-day low versus a 5-day high? Fisher's pivot work gives some sense of this kind of framework analysis. As many have pointed out on ET, the key question is how much profit can be gained per unit time: a single edge applied across a universe of instruments or a framework (multiple edges) applied across a subset of liquid instruments.

Regards,

PTR

 

[jack hershey]

Quote from Joe Doaks:

Uh, Jack, SCT works BETTER in one minute.

The test is what works better for a day.

your print was an entry/ exit thingy. That is not SCT trading as you know.

Get some charts up so we can do some betting practise.

If you are chicken just put up your screen dispaly and we can start by straightening that out

Put up the 5 min chart, especially; if you wish show the tick chart as well.

lets get on with it.

 

[Thunderdog]

Quote from Joe Doaks:

Now I am not particularly proud of this trade. It was entered late and exited early, but no fucking way did SCT see it coming. I didn't want to trade the AM ratcheting (rat-shitting?) bear flag, so I waited patiently for the signals which triggered this trade. Times are Pacific, because as is well-known, I chart and test in PT and trade in CT to get a beneficial lead time on trades.

You managed to call that top quite nicely. That is something I cannot do and no longer even try. But I am curious. Without getting into anything proprietary, what prevented you from shorting at, say, 10:03 PT?

 

[jack hershey]

Quote from Thunderdog:

Spyder,

Thank you for your response to my post. We do seem to agree at least in principle on some some matters if not others. But let me ask you this. You probably know Jack better than anyone else here, and you regularly try to smooth over and digest his effusive verbal cabbage. In all honesty, what do you think is his motivation for doing so? Why does he intentionally pose as a barrier to the "pay it forward" theme that he purportedly espouses and gives so much lip service to? We all have contradictory tendencies of one kind or another, but his seem to defy comprehension.

I do ball park

Spyder does batting

When we are doing training, there is no ball park; we both do batting practice.

Here is a thread where the OP is doing ball park

you don't understand ball park

And you are in the wrong sport for batting as dictated to you by your history.

 

[jack hershey]

Quote from Thunderdog:

You managed to call that top quite nicely. That is something I cannot do and no longer even try. But I am curious. Without getting into anything proprietary, what prevented you from shorting at, say, 10:03 PT?

his inate fear, aniety and anger.

post the chart if you are able. include volume as well

and if you can a tick chart.

 

[Thunderdog]

Quote from jack hershey:

I do ball park

Spyder does batting

When we are doing training, there is no ball park; we both do batting practice.

Here is a thread where the OP is doing ball park

you don't understand ball park

And you are in the wrong sport for batting as dictated to you by your history.

*Sigh*

 

[Joe Doaks]

No thanks. It would confuse you as badly as you confuse me. It has strange things on it. Support. Resistance. Excessive price change measures. Excessive volume measures. Sit-on-your-hands indicators (in OR out). Cyclicality. Turning point calculations (numbers, not eyeballs). Multiple trend measures (not drawn with chewed crayons). And best of all, calculations of price MANIPULATION.