Sorry but, I would've entered here also, theres at least 3 to 4 reasons in the chart provided for doing so. Its simply a trade that didnt work out. Of course unlike Jack, I would've had my stop in place. My $$$ isn't made on win percentage, its made on win / loss ratio.
I'll say it again. Jack and Spyder offer something really fantastic out of sheer altruism. Whatever expression Jack chooses to impart his knowledge, I respect it. I jumped through hoops to understand that what was explained, in actuality, was very simple. Some people need this. I breezed through Edwards & Magee and dismissed it as pseudo-scientific garbage. Well, yea. Its not scientific. And it is self-fulfilling. But its not bunk ;P Jack marketed something old in a new way. His outlandish claims and bravado commentary made me take another look. The catch was discernment. Here's a guy whose obviously highly intelligent, coherent (yes, he is), that spends endless hours compiling a virtual encyclopedia of posts, expounding on trade theory, that in most threads, personally addressed a struggling traders problem. The mentally ill are rarely capable of that kind of stoic clarity. Someone in their right mind wouldn't waste their time. Unless, of course, they really just wanted to help. And I guess some people never got or been a generous hand to someone in need. So they immediately revile from the prospect anyone could be so magnanimous..... Sad, really. Also, there's a lot of Conventional Orthodoxy (CO, as Jack likes to call it that trips up neophytes before they even start. Here's the big one: Methods can't be shared or the Edge losses efficiency and the Market reinvents itself. What if that wern't true? What if there were some underlying market principle, or 'glue', that always has and will guide the market? SCT is something that can't be learned in a day or week. Why? Because its not a method. Its not a set of rules. Its a paradigm. A way to understand the markets language. To 'hear' its melody and tempo and anticipate the next refrain. The Markets dialogue is constantly changing. But the language it uses remains the same. This is why any SCT'er must spend thousands of hours of screen time, listening to the market, to finally "Get it". Few people, even when shown 'how', will go the distance. Its a colossal undertaking even when laid-out to some degree. Thats why "SCT", TA, or whatever u want to call it, will continue to work forever. Its the same riddle that reinvents itself in a new way, each time. Riddles within Riddles within Riddles..... Quite profound, actually. Thanks again, Jack!
riddles within riddles within riddles.......................... you said it, not me! http://www.youtube.com/watch?v=oYS7aQY1iZI&feature=related
Believe what you like. Discernment. Some people got it. Some don't. Btw, the clip is much funnier when embedded <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/oYS7aQY1iZI&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><embed src="http://www.youtube.com/v/oYS7aQY1iZI&hl=en&fs=1" type="application/x-shockwave-flash" allowfullscreen="true" width="425" height="344"></embed></object>
Its funny to watch people not in the know (you) argue with people who obviously operate on an entirely higher plane of understanding than you (Achilles). I know you can't see it right now mr duck man, but if you actually gave yourself a chance to learn the markets language, you would certainly refrain from any posts like this one below. Unfortunately for you, right now you are very far away from that point. Achilles, excellent post man. Probably only like 10 of us understand what you mean and the rest are either angry or scratching their heads