Obviously I am seeing as you've spent hours on me today alone Ahhh the sad little guru followers BB and Coke.. when will they learn that only leaders kill this game
Error #3: ALWAYS IN. I decided to relent and treat of this all-important error because of the overwhelming response this thread had today. No matter that a lot of it was shit-slinging by both camps. If indeed I may be said to have a camp of my own. My threads are camp to be sure, but official ET sanctioning of SCT has dispirited and worn down the ranks of my disorganized rabble. Why is ALWAYS IN an error? Let us remember the rules. We always reverse at a channel bounce, an FTT or a BO, depending on our level of proficiency. Also, we have no stops. So let us visualize a common case. We have been playing a strong and clearcut up channel all morning. For whatever reason we call an end to the channel and reverse short. This most often leaves us short in a relatively narrow range congestion. Some day it is the right position to be in because price will go down in the early afternoon. But most days it is wrong because the uptrend will resume. So with no stop, we're facing a significant loss by the time we figure out we're wrong. And as Jack made clear early on in his ET postings, SCT NEVER suffers a loss. The fix? Get the fuck out whenever you find yourself in a consolidation. (Disclaimer: I do NOT trade SCT, but I like to track what SCT traders are likely thinking. It can be such a fruitful resource for comic relief during a stressful day.)
Dolly Llama, I need to introduce you to ET poster Kokomo Bogart. A dual personalitied fellow with close ties to Jack.
I have him on my bedroom wall Joey.. he does have a familiar speech pattern.. but surely Jack would not stoop to my level.. not like that odious Grob character
I noted earlier that Spydertrader (who DOES PM me, does Jack know that?) has diverged from unorthodoxy, verging on becoming the Martin Luther of SCT. For example, whatever happened to using the Stochastic and RSI? Those were mainstays of the method at its inception. Spydertrader sayeth naught of them. De mortuis nil nisi bonum?
Y'all (all y'all) remind me tomorrow to post Error #6: SHADOWS ON THE WALL. (Yes, THAT Platonic allegory.)
Why can't we have an Xtreme SCT (TM) thread? It could skip all the nonsense and get straight to making money. First there would be daily synchronization. Everyone on the same chart, etc. Then, from the sensor implanted in Jack's arm and hand, signals would flow over the internet to every subscriber. At the subscriber's end, those signals would be translated into nerve impulses that drive the subscribers' arm and hand. So, everyone would do exactly what Jack does. Neat, huh?