Socrates Examines Technical Strategy

I find myself terminally bored when I am not raging against SCT. I had thought to abandon this thread, but, what can I do? I am as obsessed with demolishing Jack's reputation as he is with aggrandizing it.

So. I declare victory on the issue of unlimited "pool extraction", no one having even attempted to refute my quantitative argument.

So. I move on to the issue of the size that SCT traders can trade. Jack is pretty clear on that: 100,000 contracts "easily". To paraphrase the Bible, "Let him who has charts to chart, chart." Today was a purt' gud day in ES, with a maximum volume near the RMH close of over 30K contracts on the 5 minute chart. More typical during the session was 4-5K.

Now anyone who watches shorter time frames, say 1 minute, knows that price moves smartly away from the peaks and troughs SCT is trying to capture. Today, for example, only a few hundred to maybe two thousand market orders could trade near the peaks and troughs before price moved rapidly away.

Do I have to draw the obvious conclusion?

I humbugly await a refutation.
 
Pity poor Neoxx. I keep trying to give him good advice, but he just won't listen. Maybe because he can't see my posts? Earlier today he complained that ES was in VDU (don't ask if you don't already know) and wasn't worth the effort to chart. I advised him that voodoo (my term for it) may be a semi-permanent condition, and that if price moves, you trade it, regardless of volume. But that is the trouble with a closed-minded system. It's like a closed-end fund: you'd better have it right before you slam the door.
 
Oh, my! Neoxx can't see me because he has me on ignore! That is so much more fun! "I see you, but you can't see me!"

He hasn't caught on that that makes him an ignore-amus. One day he will be sorry. When I go to rescue him after his failure at SCT, he will have to pay with many mea culpas.

Here is his trading plan:

"Entry near the open, exit near the close, with the frequency of intervening reversals increasing with skill level, to a maximum of 20-40 at Advanced Expert. Will ultimately be trading with 5x50 contracts."

You have got to love it! Most SCT traders pick on me because I have an incurable predilection to scalp. What is 40 trades a day but scalping?
 
Neoxx opines:

"The over-riding VDU seems to be disrupting the dynamic between the YM and ES."

He should be on CNBC:

"The Dow is down on fears goat prices will plummet in the Andes due to the increasing longevity of women there."

A fertile imagination is no substitute for a REAL system.
 
Quote from Socrates:

Pity poor Neoxx. I keep trying to give him good advice, but he just won't listen. Maybe because he can't see my posts? Earlier today he complained that ES was in VDU (don't ask if you don't already know) and wasn't worth the effort to chart. I advised him that voodoo (my term for it) may be a semi-permanent condition, and that if price moves, you trade it, regardless of volume. But that is the trouble with a closed-minded system. It's like a closed-end fund: you'd better have it right before you slam the door.
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Good day, Socrates,

Again, you provide little gems. There is a mass neurosis, a cult of 'traders' who believe that SCT actually works any differently to any other blunt trading tool written about within the books.


Some good examples today of the SCT types being masacred in thier little groups (it's really funny to watch)


The thing with Neoxx, he's taken bad advice and put his little slant on it.....so on and so on. The SCT 'cult' belief is incomprehensibly warped out of recognition, it's blind faith.....hahaha!
 
Thanks, 'Ster. In general I agree. But there are also folks like Spydie and Tinhorn and others who kept the baby and threw out the bathwater and seem to be doing well with it. For example, my homegrown version of it is up over $350 on ES. See next post.
 
Quote from Socrates:

Neoxx opines:

"The over-riding VDU seems to be disrupting the dynamic between the YM and ES."

He should be on CNBC:

"The Dow is down on fears goat prices will plummet in the Andes due to the increasing longevity of women there."

A fertile imagination is no substitute for a REAL system.
More...
LMAO ... too funny! :p :D

You do realize that if you keep pointing out the glaring errors in SCT it's conceivable that at least one of them might actually figure-out how to trade ... and then go back and tell the others. :eek:

P.S. Nah, if that ever happens they're gonna keep it to themselves, I can GUARANTEE IT! :)
 
Actually, Mandie, I AM trying to make it work. Then it will go away, and where will they be then? That's why I keep posting fabulous sim results with it.
 
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