Here you go... And the source ref's http://www.elitetrader.com/vb/showthread.php?s=&postid=1194022&highlight=fine#post1194022 http://hersheyuniverse.blogspot.com/2006_09_01_archive.html And another one showing all 3 level tools (Course, Med, Fine) and a proposed layout discussed here.
Yes thanks for bringing up those threads. While not the ones I took exception too, you can see echoes of his 3x times the range in profits boasts and you can also see he was talking about making very short term decisions off an indicator from qcharts that took splices of the market and was slow at that. I just love his quote about no need to for the squ/str until you can earn the morning range. Its trader comedy at its finest. Jack's quote: "Commonly you can use the setting that appears after the synch of INDU with DJ or YM. This was the common means before indexarb came into being. Just as there are three mechanical means of trading PVT there are various means of coding the offset. Traders using SCT at a basic level do not need to interject the Squ/str right off. When your profits are exceeding H-L around 10:30 to 11:00 New York time, then you need to use this level of fineness to deal with both the effects of market pace and the effects of intraday changes in sentiment. it may be that as a cadre of high velocity traders in SCT are doing prints, then there will be some interest in how to get to the 3 times H-L level of daily profit taking."
The links were posted in response to anothers request. I don't follow your suggestion of humor Other than to postulate, by your response, you will never require the use of a fine level indicator such as STR/SQU ?
or you may have not gotten my point. Jacks indicator was worthless and in my opinion manifested his lack of real time trading experience. Jack's concept of using the spread for premium was profitable in the late 90s and became less and less so over time. The thing that Jack did not know is that qchart's data was not constant, real time or fast enough. it only updated once every 6-15 seconds. Had jack really been using the indicator in real time he would have said hey how come this is not working? I am not getting the prices I should be getting. He would have then said I wonder if its my execution or data. He would then have been led to discover that Qcharts was only pushing out updates of his indicator data every 6 - 15 seconds. He would have then done what every inquisitive mind would have done and found out who provided the data to the floor. That company would have explained to him why they had certain data for people doing arbs. In the end jack would have found himself a nice edge in the mid 90s.