The Psychology of SCT

Quote from CFerret:

You guys who critique SCT really "splashed out the baby with water".

I honestly admit that appeared either too lazy or simply have chosen a path of least resistance, but I do not follow SCT in a way as Spyder gives it and do not use most of the tools given (like Str/Sqw etc) and trade in a way of "conventional orthodoxy" (risk/reward, entry, stop-loss, exit etc).

Yet I can definetely say that concept of price/volume relationship turned out to be absolutely invaluable for me in many aspects such as better understanding of markets, better objectivity of signals etc.

So IMO everyone who says SCT is worth nothing simply refuses to add some very powerful weapon to his arsenal of trader.

Such a behaviour looks like masochism to me. :D
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Masochism, would be actually reading all grob/hersheys posts to try and get this method.




"splashed out the baby with water"?
Now, thats worth reading, thats hilarious. :D
 
Quote from CFerret:

You guys who critique SCT really "splashed out the baby with water".

I honestly admit that appeared either too lazy or simply have chosen a path of least resistance, but I do not follow SCT in a way as Spyder gives it and do not use most of the tools given (like Str/Sqw etc) and trade in a way of "conventional orthodoxy" (risk/reward, entry, stop-loss, exit etc).

Yet I can definetely say that concept of price/volume relationship turned out to be absolutely invaluable for me in many aspects such as better understanding of markets, better objectivity of signals etc.
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You've just taken out everything Jack, and left price/volume which has been around before Jack wrote his first E-pamphlet in the 18th century..

So yes as long as you take out SCT it is a fine concept
 
Quote from acronym:

Masochism, would be actually reading all grob/hersheys posts to try and get this method.
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No need to read all his posts to grasp quite an easy and useful concept of price/volume relationship, looking at several charts in Spy's thread is far enough for a sane person. :)

As for other stuff maybe I'll find it useful later, maybe not, but would not critique it because who in his mind would critique such obviously good tools as str/sqw (TICK can be used for the same purpose) or DOM or T&S etc...

Just someone with a lot of experience would prolly just not need them to trade profitably, someone would incorporate something and will improve his trading... We're all different, so saying that something is absolute crap is very childish and doesn't make much sense if your goal is to really improve your trading skills.

I am not talking here about claims about "3x daily range" etc. Simply don't care about them. Care about only one thing: is something from this method can be useful for me or not...
 
Quote from lastcall:

You've just taken out everything Jack, and left price/volume which has been around before Jack wrote his first E-pamphlet in the 18th century..

So yes as long as you take out SCT it is a fine concept
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AFAIK Jack always admitted that he took this concept from other authors.

And yes I also read Wycoff articles before I read Jack's posts.

But probably due to lack ot examples or something else I was not able to understand how valuable it is until saw Spy's samples.

That's it. Again I care about SCT only as a set of observations and tools, claims assotiated with it don't bother me at all.

I simply don't need as much as 3X daily range per day per car. :D
 
Quote from CFerret:



I simply don't need as much as 3X daily range per day per car. :D
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Well how convenient seeing as Jack and Spyder have never seen it either :p
 
Quote from Bullz n Bearz:

Someone mentioned Jack went down early in a post, did he pass away?
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Jack will never die. To his fanboys he is like "mother" in Hitchcock's "Psycho."
 
Quote from plodder:

Jack will never die. To his fanboys he is like "mother" in Hitchcock's "Psycho."
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Well he certainly is as scary as her with that ponytail

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