Objection #9. There is a dangerous hubris in thinking that if everyone traded SCT we would all get rich. Index futures exist primarily to line the pockets of their exchanges and their (effective) market makers. And only incidentally to facilitate hedging, arbitrage, speculation, and options. But over the long haul the market makers cannot be net unprofitable, or there would cease to be markets. And don't tell me "we" make the markets. Bullshit. I have seen what happened in the past when the primary exchange for an ETF went down and the only trading was on Island. Malkiel would have loved it. If ANY method skews the trading balance so that the "public" (market order traders) make the "insiders" (limit order traders) net unprofitable, that method WILL be faded. If you are old enough, remember all the things that once worked. Of course, we can always hope, like Achilles, that they will work again, if only we live long enough.
Objections to SCT
- Thread starter Joe Doaks
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You got it....
Who amongst the big winners (or even moderate) in the P&L 2007 thread trades your method Jack.
I don't actually have a problem with what you've said but given the magnitude of the claims you'd think that someone would be able to demonstrate that they're real.
Third attempt.
I don't actually have a problem with what you've said but given the magnitude of the claims you'd think that someone would be able to demonstrate that they're real.
Third attempt.
Yes. Really.
I've met the guy and have spent time in his home. Now, you don't have to believe that, but Wikipedia? Are you serious?
As I said, feel free to believe whatever you like, but do you really believe you have a greater insight into what motivates Jack Hershey (by quoting a web site) over someone who has actually met the guy?
Think on that a bit. See if you can leave your ego out of it this time.
Classic.
- Spydertrader
Edit: The folks at Kappy's in Tucson should recognize me.
1. This isn't an edge to be arbed away. An FTT signals the sentiment change in any market. As long as sentiment rules the markets, these methods will continue to operate. You think suddenly fear and greed are going out of style?
2. ET cannot agree on the validity of these methods. You think 'the whole world' is gonna' somehow see things differently?
3. How many markets again? How many timeframes?
- Spydertrader
Objection #10. Lossless trading. That certainly is achievable SOME of the time. I try to trade only setups that favor it. But not ALL of the time. Consider an FTT. Without reference to S or R, you can't trade one until it is evident, IMO, by 2-3 ticks. And if price moves by that much, it often moves much more very fast, to trigger all the universe's indicators at once so everybody enters at once and can get faded efficiently as a group. So if an FTT isn't, you are toast. Same with a channel bounce. When they happen legitimately, they happen so fast that you have to have lightning fingers to get in within 2-3 ticks of the channel. And we haven't even talked about the spread, or expansion of it at price points where the crowd is trading.
I think I am done. I certainly am done in. Slacker, if you're still here, it's your turn. If you would care to, take over from here. All the best to everyone who played the game. Step right up, ladies and gentlemen! Eeeeevreeebody wins!
I think I am done. I certainly am done in. Slacker, if you're still here, it's your turn. If you would care to, take over from here. All the best to everyone who played the game. Step right up, ladies and gentlemen! Eeeeevreeebody wins!
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