Over the years Hershey futures traders have entertained and enlightened me more as a class of trader than any other community here on ET. Being an empathetic sort, I have agonized with them as they tried to determine Point 3. I have trembled with them as they fretted over their decisions after the fact. I have been confused with them when they tried to reconcile contradictory indications from illusory relationships. I have sympathized with them as they poured endlessly over Jack's turgid missives. I have rejoiced with them when their paper trades were winners. I have soared with them on those rare occasions where they actually made real money. So today I give them a gift: SCT Without Tears. No channels. No crayolas. No spoofed DOMS. No split second ephemera. No stops, even. All they need is color vision.
As I recall, Infooverload, you are not an SCT trader. So perhaps you do not fully appreciate the ambiguities and consequent angsts of the system. If you look carefully at yesterday's ES chart, you will see that there were numbrous opportunities to be whipsawed by a poor Point 3 decision. And as the master disdains stops, the profit potential of the day was reduced thereby. SCT Without Tears is not spoofed by false Point 3's. Nor does it hurt your head trying to make sense of price and volume patterns when in general there is none. This system is minimalism in trading. And I am its Philip Glass.
Yes, quite so. I'm not a SCT trader, nor have I studied it's complexities. I'm not terribly adept at that sort of thing so I stick with what I know. Philip Glass and how he dislikes the label minimalistic. Musical mathematical puzzles, I believe is his vague self proclaimed pigeon hole. It's a Brian Eno influence. I like your chart, very straight forward.
Sorry, Infolode, Glass's music was a poor analogy. Steve Reich's would be a better one. As to simplicity, that is my crusade on ET. To teach beginning traders to trust. That the price is the price is the price. That they do not need to doubt price by wondering what precedes price. Or what makes price what it is. Or what confirms price. Price is pure. Price says "YHWH", "I am that I am." Price is perhaps a bit latent, but that doesn't make it queer. Price is often ambiguous. And so should analysis be. Fluid enough to allow for the multifaceted ambiguity of price.