Objections to SCT

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Quote from RhinoGG:

I have half a brain. Could you, would you, explain it to me like three year old.
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Rh, I will do better than that, I will summary my 3 months worth of study into 3 words:
volume leads price.
simple, isn't it.
 
Thunderdog, thanks. I knew it might be the HOD, but one of my three independent "hold trade" indicators popped "exit". So I covered on concern that there might be a retrace to form a double top, a one-tick BO, or a close H&S. NQ so rarely makes a simple top like that that I said "Fuck it! Take a little profit and analyze later." I have not yet learned how to deconflict my hold signals because they are all derived differently based on different market dynamics. As to how I knew to short then as opposed to earlier, I can't say. Voodoo. It involves drawing a circle on the floor with chalk and dribbling chicken blood in while chanting "Jack Hershey! Jack Hershey!".

Edit: Or maybe I faked the execution report in Photoshop.
 
Quote from Joe Doaks:

Lurker, curse you for making me go to my wife's Bible. I am a Pentateuch and Gospels man, myself, so I didn't know the reference right off. Very apt!

I have an objection re "always-in" which is lower down on my list. Perhaps if you can overcome your boredom and hang with us a while I'll have someone worthy to dialogue with.

Before proceeding, I'm still waiting for a defense of five minutes, other than "Jack says so

My first line of defense against chop is a simple crossover histogram, usually works like a hose. That and setting the volume scale so small that when I can't see volume, there's chop!
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Interestingly enough, part of backtesting I do segregates the trades by time of day they occurred. The "old wives" tales about the best times of day to trade seem to coincide with some of the results. So, a very simple signal for "chop" is time of day. For example, over lunch time EST the market usually goes dead. Now you may observe markedly reduced volume then and say the same thing, while I have simply observed it as a time of day filter from backtesting results. Maybe its the same thing from different perspectives??
 
Quote from 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.
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This is the conventional orthodoxy.

these tiem are designed to increase the probability of doing a great entry and exit.

numbers all over the place from calculation of customized stuff. These are inventive things designed to let the traders "have his way" with the markets.

What does he get?

He is right all of the time about what he is calculating.

this stuff is so good that he isn't ever going to let anyone else see it.

So what box in Harris's heirarchy is he operating out of.

see if you can find a box labellled "Boss".

He is running the show and in a conventional orientation using edge entry/exit trading.

You can see as he said the SCT stuff is so readjusted and realigned that it is not recognizable.

He, in effect, is not using any SCT stuff.

If anyone is using SCT on NQ please post a chart. If not that is fine too.
 
Lurker, I recently took off my charts my beloved low volume indications and bad time of day restrictions. The way price moves midday now, you have to be a fool to arbitrarily stand aside. Was very painful to do that after using them for years.
 
Quote from ETLURKER:

Interestingly enough, part of backtesting I do segregates the trades by time of day they occurred. The "old wives" tales about the best times of day to trade seem to coincide with some of the results. So, a very simple signal for "chop" is time of day. For example, over lunch time EST the market usually goes dead. Now you may observe markedly reduced volume then and say the same thing, while I have simply observed it as a time of day filter from backtesting results. Maybe its the same thing from different perspectives??
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i agree.

we have three charts/tables that are money velocity based and the trading activities are keyed to these times and velocities.

Six descrete velocities where ione defines trending days.

We have a vocabulary for the daily patterns that are based on the activitiy levels. The CCC depicts the midday period.
 
Quote from ETLURKER:

Now you may observe markedly reduced volume then and say the same thing, while I have simply observed it as a time of day filter from backtesting results. Maybe its the same thing from different perspectives??
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One can actually have trend days on low relative volume. Even on high-volume days during lunch, the absolute level of participation results in the same choppy behavior, unless the range has been abnormally constrained in the morning. I apologize for splashing about, but I'm in a generous mood today.
 
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