Objections to SCT

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Quote from Joe Doaks:

Shudda brung some cavalry with ya, Jack. Where are all your supporters? Tick fucking down inside ever-narrowing, ever-slowing, ever-shortening channels this afternoon?
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They are ROTFL.
 
Quote from Joe Doaks:

And where do you come down on the issue, ET99? And why are they laughing? I don't think it's funny.
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Perhaps, they laugh because they understand the true intent of this thread - clear from post one to the eyes of this observer.

- Spydertrader
 
Quote from jack hershey:

Your posts are actually more than anyone can resonably expect.
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Thank you, Jack.
You may come around yet.
Is "butterscotch" a cat?
Have you heard of the kitten test?
Just let a cat walk around on your keyboard -- excellent test of trading software/methods.
 
Quote from Thunderdog:

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.
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Jack posts in such a fashion to filter out individuals who by their very nature expect things to be handed to them. Unfortunately, posting in such a fashion runs the risk of 'filtering out' (at least initially) many unintended individuals (myself included). While certainly lending itself to attack and often vehement disagreement, Jack could end the entire discussion by posting a few prints. However, he knows 2 things occur once he does that. One, the controversy ends (and we all know how much controversy generates interest on this web site), and 2. Some still wouldn't believe it and we'd have another argument over 'photoshopped results.' As a result, Jack allows the controversy to continue - going on now 8 or 9 years online.

I've seen both his prints and his hand drawn charts from years ago - back when Jack had to hand draw his charts. Now, I don't say that to 'convince' anyone of anything. I point it out because Jack will at some point insist people witness him trade live once he knows people are doing the work. As a result, Jack has one goal in mind, to help people who need it, but only those who he thinks will do the work.

That's just the way he is.

He and Liz are both extremely generous people with both their time and money. While I don't expect anyone to take my word for it, their generosity remains no less real because some people think the old man is off his rocker. Nothing could be further from the truth. He might like to make you think he has gone off the deep end, but at 73 he hasn't lost a step.

Good trading to you.

- Spydertrader
 
Quote from Thunderdog:

...My question to Spyder was why Jack endeavors to make it inaccessible to those he is supposedly trying to help. The best teachers I have ever had in school were the ones who simplified concepts rather than convoluted them beyond recognition with verbal cabbage. So, my question is, if we are to assume for the moment that Jack is legitimate, what could possibly be the motivation for the manner in which he communicates with others here at ET?
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To induce a wonderful ability we have.. which is to think, process, reason.

-kt
 
Quote from Joe Doaks:

Achilles, thank you so much for posting. You will get no mileage here telling me I am full of shit. Everybody
already knows that. But what of you, where have you been for the last 28 pages? Waiting until the level of
discourse got low enough for you to jump in? Tell me something nice about SCT. You trade it? Make money with it?
Dream about it? What? Or you just pop in for cheap shots on demented old men? And I have no interests to protect.
I am a complete nobody, in case you couldn't tell. But one with half a brain and an exquisitely tuned bullshit
detector.
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LOL! Funny too :)

Jack and his entourage are the appropriate ambassadors of SCT. And Im fine with that.

My objective isn't to win others over to the method. But rather, make money AND lend Jack support when the shills
start frothing.


SCT? No, I dont trade it. I trade forex (no volume) which makes the proper application of SCT impossible.

I trade a 'boiled down' version of Jacks method. A rudimentary predecessor to SCT.

Basically, I only take set ups off Major Trendlines (Monthly, Weekly or Dailys), drop down to a lower time frame,
draw my channels, and take set ups in the direction of the major trend. The setups, of course, are those proscribed by Jack,
Edwards&Magee et al -- 1,2, 3 channel drawing.

Like you mentioned, this is basic TA (with a Dow Theory twist). Does this make money? You already answered that
question.

All the best.
 
"to think, process, reason"

But not, apparently, to improve, as the method has been essentially static since before I started testing it.
 
Thanks, Achilles, references to real trading have been a bit thin here. My position is not much different from yours. There are parts of SCT that appeal to me which I have adapted, in some cases so much that they are almost unrecognizable. I don't ALWAYS use them, just when they confirm other studies. Glad, too, that you are making money trading classical TA. Can't say much for your choice of trading vehicles, however. I am so old that I remember when Four-X was just a rubber.
 
Objection #7: Drawing those channels IMO hurts as much as it helps. Helps when everyone is going along with the gag and creating clean channel bounces. Hurts when they obscure recognition of simple trend trading rules, which are:

Long when price fails to make lower lows and makes higher highs

Short when price fails to make higher highs and makes lower lows

Stand aside when price makes both higher highs and lower lows

Stand aside when price makes both lower highs and higher lows.

IMO those accurst channel lines draw the eye to the relation of price to the channels, obscuring the all-important relation of price to price.

And returning to Objection #6, sometimes price isn't channeling, and you want to draw both sides of price action independently.
 
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