Okay so I was thinking of giving it a go on Monday just to see how it goes. I already trade TLs so adding the other side shouldn't be much of a stretch for me.
I went to his site and downloaded a couple of videos, but when I play them all i get is sound playing on windows media player. Where's the visual?
Anyway, his method undoubtedly works for some folks particularly Jack, Spyder, Mak, and a few others.
But for some guys it doesn't work or work well enough as said. Guys like nwbprop, a very smart ivy league type that dedicated 3 years and didn't make it full time. Guys like hypotemus who spent 6 years stalking and obsessing of over Jack and has an encyclopedia of knowledge about his method yet still is unconvinced. That's the ultimate test when hypotemus finally converts so will I. j/k
So since the method is not really objective - just look at the charts people post, everyone's chart looks different - although everyone is at different experience levels that may explain it. And its not backtestable either, which is not necessarily a bad thing as the autobots can't ruin it. Again I'm not saying subjective and not backtestable is bad, I actually think its good or else just let the robot trade it - but then there are many dangers to that approach as well.
I'm not here to flame, just want to hear some opinions without distracting from the good work Spyder is doing. I hold Jack in high regard, I think he is a sort of genius but then genius is not infalliable especially when it comes to market (theres a book on this).
I think ultimately its just like any other method, in the hands of a skilled trader the trader will make it work for him with enough experience.
Anyway here's my list of pros and cons even though I have limited knowledge and experience with the method:
Pros:
- Requires constant monitering - so you always in tune and reacting to the market. You don't get lazy.
- Does away with the one-sided approach where you form an opinion/bias and cling to it by simultaneously ignoring market action.
- You know market will go left and right constantly so if you miss on opportunity so what plenty more will present themselves.
Cons:
- Requires constant monitoring - sometimes less is more if you just look at the big picture.
- Very subjective and hard to test.
- Sometimes with all those channels you can lose track of the bigger picture.
- If your trying to nail the left and right of every channel that can be a source of continual frustration as no trader can do that everytime and trying that is the quickest way to blowout.
- There's no discussion risk or money management. Its like success is 100% assumed or else the trader is just an idiot. Really, how do you know whether you're getting it or not? When to stop and when to continue?
I went to his site and downloaded a couple of videos, but when I play them all i get is sound playing on windows media player. Where's the visual?
Anyway, his method undoubtedly works for some folks particularly Jack, Spyder, Mak, and a few others.
But for some guys it doesn't work or work well enough as said. Guys like nwbprop, a very smart ivy league type that dedicated 3 years and didn't make it full time. Guys like hypotemus who spent 6 years stalking and obsessing of over Jack and has an encyclopedia of knowledge about his method yet still is unconvinced. That's the ultimate test when hypotemus finally converts so will I. j/k
So since the method is not really objective - just look at the charts people post, everyone's chart looks different - although everyone is at different experience levels that may explain it. And its not backtestable either, which is not necessarily a bad thing as the autobots can't ruin it. Again I'm not saying subjective and not backtestable is bad, I actually think its good or else just let the robot trade it - but then there are many dangers to that approach as well.
I'm not here to flame, just want to hear some opinions without distracting from the good work Spyder is doing. I hold Jack in high regard, I think he is a sort of genius but then genius is not infalliable especially when it comes to market (theres a book on this).
I think ultimately its just like any other method, in the hands of a skilled trader the trader will make it work for him with enough experience.
Anyway here's my list of pros and cons even though I have limited knowledge and experience with the method:
Pros:
- Requires constant monitering - so you always in tune and reacting to the market. You don't get lazy.
- Does away with the one-sided approach where you form an opinion/bias and cling to it by simultaneously ignoring market action.
- You know market will go left and right constantly so if you miss on opportunity so what plenty more will present themselves.
Cons:
- Requires constant monitoring - sometimes less is more if you just look at the big picture.
- Very subjective and hard to test.
- Sometimes with all those channels you can lose track of the bigger picture.
- If your trying to nail the left and right of every channel that can be a source of continual frustration as no trader can do that everytime and trying that is the quickest way to blowout.
- There's no discussion risk or money management. Its like success is 100% assumed or else the trader is just an idiot. Really, how do you know whether you're getting it or not? When to stop and when to continue?
