Jack only advocates contemporary TA applied to Dow Theory. On the surface, theres nothing remarkable here. Except he selflessly shows how to apply it CORRECTLY (read: PROFITABLY). IMO, Jacks groundbreaking contribution - how to apply trendline fundamentals at the TACTICAL level. You can read Edward & Magees seminal work and still get it wrong. Jacks biggest detractors are the ones who haven't bothered to understand his approach. Go figure. To suggest the countless hours a man of obvious intellect spends crafting an elaborate ploy -- only to sucker a handful of gullibles into moving a multibillion dollar market is.....absurd. Thanks Jack! I got mad love for ya!!!
Why not figure it out? A good place to start: http://www.elitetrader.com/vb/showt...\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\&pagenumber=1 Jack is a elderly Gentlemen. Like most elderly Gentleman, he likes to weave life experience with relevant conversation. Let him teach - his way - and find the nugget. You can already see it. All the best.
First of all Sir or Madam: You are late to the party...I don't need to interpret Jack or figure his jargon out..Spydertrader already paid his dues and has been kind enough to make the translation available to us all at no charge...As I mentioned (sorry you did not read the whole post) I have tried to trade that way, and I found it works IF you follow the rules... Now for the moment, I think I am done repeating myself...If you would like to get involved in the thread, READ the comments in their entirety and give it a little thought BEFORE you post... One more thing, I take care of an elderly lady (my mother), and I took care of an elderly man for several years (my father), I have had my share and more of "elderly" bullshit. Frankly I don't give shit whether its Jack, or Jesus on a skateboard, if they want to communicate with ME, they need to speak STANDARD AMERICAN ENGLISH...Sorry, but I have run out of patience with elderly folks and those who want to impress us with their quirky intelligence... Thank you Steve
I cant speak for others but i do find grobs and spyders posts useful. I dont understand 95% of what grob is trying to say. But the 5% i do understand i find extemely useful. There are million different ways to make money in the market. Not every method is for everyone.I always like to know interesting new ways. I personally dont trade his method. but i thinks his methods are very uniqe and interesting. Ill compare jack to alan farley. People who read farleys book say its the best trading book others who dont get it say its a total waste of money and time. I think there is a segment of ET'ers who find jacks and grobs post very useful and are greatful. Others who think its a scam or spam should put them on ignore
I don't know enough about Spydertrader to comment about him. However, when it comes to people like Grob, marketsurfer and a host of other self-important members, your advice truly resonates. I like reading intelligent, well-thought-out posts. However, I realize that not everyone is inclined to, or perhaps even capable of, writing them. However, what really rankles are the fools who try to come across as knowing far more than they actually do. In their defense, some of them may actually believe their own hype. Even so, the more that I take exception to some of the stupidity on these boards, the more I find myself in the company of morons. In that regard, I would hate to be judged by some of the company I have kept. You have said it to other people before, and I have used it on occasion, however, I have not done so nearly enough. I should probably use the ignore feature more vigorously or, better yet, spend less time on ET. Very good post, nitro. Thanks for the much needed reminder.
I did read your whole post. Including the part where you admitted missing half of what Jack writes. I am happy you derived success from Spytraders translation. Thats great. My point - its better to go to the source than a student. All the best.
I understand, At some point the student becomes the teacher..I think that that is what has happened with Jack and Spydertrader.... I believe that Spydertrader has not only "translated" Jack's work from whatever dialect he speaks into English, but has improved the system gradually with his own input... At some point people grow up and stand on their own feet...One would think (hope) that Jack would be pleased that this has occurred... Steve
Indeed. Points can be made on both sides. My comment was only intended as a suggestion. All the best.
It is difficult to explain to how pleased I and a host of other people are regarding the work of Spydertrader. Todd is a superb example of a person who is passing forward what he learned and improved and what he knows is a great way for others to learn by working through the journals that he has created. No one has to hope that I am pleased. I am immensely pleased and I have repeatedly expressed to Todd on many occasions when we were together (especially when he is working with the IBD Tucson Meetup Group here in Tucson), on the phone, doing gotomeeting camtasia videos, emailing and doing pm's on ET and through other web forums. Spydertrader is one of the PhD's and has been a contributor to tons and tons of work going on to build the transfer resource that is under way. The fact that I rarely post in his journals, is a natural consequence of how people work to get the job done. As has been seen over and over in ET, There is a consequence of my posting in any thread. It is very unfair to the OP of any thread. A recent example is the comments made in the ET is #1 thread. I posted to commisserate with the ET owner with regard to a person who had an extreme view. It turned out that my sentences brought down the wrath of several ET folk and this thread had to be set up to feature the person who's post is the featured post here; the head wrather of the other thread. I became a sumbug. Liz sang me lyrics to the tune of Mr Sandman... LOL. I am used to and understand the basis of those who flame me and function as detractors whether major or minor, either regarding substantive content or just personal attack type detractors. It is more than just shooting the messager. It often deals with how "unbelievable" the information, trading approach, skills exhibiited or experiences related. Of course, it is true if you have had experience with older persons that demanded your help, then you are not going to want to put up with someone old and past their prime like me. Another factor that is unpleasant for others are all of the money issues that are projected on me by them as they vent. They choose a money issue and let me have it and that is that. I treat all of this distaff stuff in a singular way. With very very dry humor. From where I am sitting what they say and how they behave is very humorous. For them it is very real, however. Very very real and kind of sad in some ways. People can get screwed up so badly that it is irreversable. Maybe others here can see and understand how a person gets to that place. Fortunately, and I thank Spydertrader for his work here, we have reached a critical mass for moving forward the paradigm shift which we advocate as an alternative to the CW paradigm most use. You can see how unraveled a person can be when they run into the use of financial terminology used in a way that is foreign to them. There is also the way I type run on copy in this different paradigm. It is difficult to get people to put me on ignore. Why is clear. It is tough to give up learning about an approach that makes "unbelievable" money, especially if is does and it is simple to do after a few weeks. Nitro hasn't done very well in his purposeful quest. Maybe it is his logic; maybe it is his trading prowess, who can tell. My orientation to giving away the candy store is not thought well of by others. It stems from a variety of principles that a lot of people follow. I do not see why it is ever bad to help others. The reasons people do have for my not helping others fall nto two classes, both clearly understood and stated by them. The polls that have been conducted are priceless. I believe them simply because they are there to look at. their validity, again ,for me, is humourous. As is backtesting without using volume as a variable. For me, most of the time, volume triggers the trades I do. Have a good Labor Day. Trading sure beats working, however.
Just now and without doing any DD, I am starting to See the honesty and high qualities of you great guys.