I cannot and will not speak for Neoxx. I can however say that it is definately a good idea to know what you are doing before wasting resources. SCT requires that a routine be well established and that the trader know what he/she is doing (minimally). You are most certainly acquanted with the reasoning given for this approach. I can also admit that I personally began trading too soon and had some minor setbacks as a result of not being established in the techniques. They were great lessons but not necessary and not expedient. Correct charting is development of the routine (M). This you also know. It is the first step in the process. What is paramount is development of the routine. Successful trading is a result of that pre-requisite development.
Socrates Examines Technical Strategy
- Thread starter Socrates
- Start date
Thanks for explaining your view of trading vs. preparation. I am of the sink-or-swim school of thought. I value the painful memory of horrible mistakes. Hence my assertion that Jack does a disservice by teaching theory and not practice. I have plenty more specifically to say about that, if this thread survives. Mostly that good character is irrelevant to trading. Indeed that character may well be improved by trading profitably. For example, IMO you don't need much self esteem to follow profitable trading rules, but self esteem soars when you win consistently.
But again I digress. Jack is highly qualitative. I am going to pin him down with numbers.
But again I digress. Jack is highly qualitative. I am going to pin him down with numbers.
Well, I suppose it comes down to choice. Personally, I am not interested in inventing ways to trade. I found Jacks techniques and writings to be fresh and thought provoking and I am now seeing that his techniques are very powerful and profitable. Certainly everyone has a choice and it is a wonderful thing. In trading, it helps to make markets.
Have a nice evening Socrates.
On which point, I made two of them.
They didn't like it when I brought Hume into a discussion with the coveted wisdom of JH.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2235333#post2235333
People who regularily mistake their a posteriori knowledge for being a priori knowledge don't really like philosophers in general anyway.
Painting the markets in such objective ways is so the yesterday's bowel movement of science.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2235333#post2235333
People who regularily mistake their a posteriori knowledge for being a priori knowledge don't really like philosophers in general anyway.
Painting the markets in such objective ways is so the yesterday's bowel movement of science.
They aren't too fond of critics either.
We'll just have to assume that the SCT'ers are churning out money hand-over-fist, pretty much like Madoff.
Why?
Because they both say so.
Thanks to all for your restrained responses. I will leave the issue of "pool extraction" wishful thinking on the table for a day to permit a quantitative rebuttal. There is a clear and simple way out for SCT theorists, but invoking it would violate another fundamental tenet. Let's see if they get it. I am a bit surprised that "one lot piker" hasn't been invoked yet to discredit me. Ehorn referred to my fondness for quickie low profit scalps. That is all I ever post because they give me an excuse to extole the virtues of my fraudulent systems designed for the desperate masses. But I know a thing or two about entries, exits and stops. The curious lack of trade mechanics in the SCT oeuvre is something I intend to probe later using that knowledge.
Is it not you who is performing the examination?
1. You have to be in the market to make money.
2. You have to be on the right side of the market to make money, and
3. Money is made in markets through the movement of price