Thanks, Allaces, I needed that slap in the face. As I type I am carefully studying Dr. Kraepelin's KKK system to see if I would prefer his intraday approach to N.Q. Enqueue's daily bias system. So many hard choices here on ET! Also, Jack keeps promising to show us backtesting results for SCT. I got tired of waiting and asked Joe Doaks to take a hack at it, starting with autodrawing channels. He dusted off his old peak and trough detector software, tweaked it a bit, and concluded, and I quote: "No fucking way! Reliable peak and trough detection is such a bitch algorithmically that it ain't worth the effort to try to make it work. Have any of those fucking SCT idiots ever heard of higher lows and lower highs? Why does everybody have to COMPLICATE things? HTFU!"
as Spyder said "any instrument..." thus profitable trading stock is not a prerequisite for profitable trading futures. only you and yourself can answer that question or perhaps Jack
Well, Nkhoi, that brings me back to one of my old gripes. If I were to teach someone to trade, I think I would teach them trading process before I taught a trading method. By process I mean the psychology of trading and the cool mindset it takes not to get rattled and make stupid mistakes. Let's admit it: channel trading per se ain't that hard, if you ignore all the BO/FBO/FTT jargon and stick to the simpler concept of failure to make lower lows and failure to make higher highs. The bitch is figuring out when to hold and when to fold when things get ambiguous. And honestly, most of my charting is to handle ambiguous conditions, not the simple shit. With the limited data set available on new SCT traders, I am tempted to leap to the conclusion that the ones who are succeeding (including you) know process, and the rest don't. But as always IMO, the real value of Jack and SCT is the heuristics of them. Hence the endless, and hopefully healthy, debate.
"Fair dinkum", Allaces? Just when I was beginning to like you. Did I mention I also work with criminals and whores? My sub-specialty is the special psychological needs of descendents of victims of the Crown Transportation Acts, primarily in Appalachia. We are thinking of seeking reparations, as we were white niggas decades before black slavery in the Colonies.
Failure To Trade is what it is. Those "profitable" ones are breaking the rules. They shouldn't be trading yet. Even if they are, they have no way of knowing that they're doing SCT! It is so ambiguous, like an ink-blot, that it becomes whatever you read into it. Everyone's a genius in a bull market.
I finally figure it out that Jack operates from Abundance Wealth point of view. The man never has to go thru the phase of IspendsomuchmoneyandtimeandIgetnothingtoshow. Thus he is definitely lacking empathy with people operate from Limited Wealth point of view. But I think he is addressing the psychology side of it right now, three 3 operating words beside do,be,have are support, comfort and ...Sorry I forgot the third one, I will fill you in later.
225, yes, there seems to be something brain dead in experienced traders who pick up SCT, like a boil from a public toilet. Whereas before they cried "Double bottomy!" with delight, now they see FTTs. Or a lower low on lower volume. Or, heaven forfend, a higher low. My generation remembers CCC as Civilian Conservation Corps, but now Jack has confused us with a new definition. I used to say "This trend is fucking dead!" Now I opine: "Congestion, convergence and centering", as if that added anything to the perception of the pattern. Like calling an aggressive bright red male bird with a brown topknotch and a "cheep cheep" call a cardinal. That helps so much!
You should not even be allowed to still post here after making up the worst lie ever. Oh yeah, how is your head trader doing anyways?