...I am perfectly willing to accept that we may be treading the line between a describable method which admits of proof that a plebian trader can trade, and an intuitive Gestalt view of the market which only a towering intellect like Jack can trade. Being a concretist, however, I don't believe in intuition, only in thought processes which, however subtle, have only to be brought into conscious awareness to be seen to be rationally deductive. Ergo this challenge to Jack traders: explain how you do it. Jack is a philanthropist. He wants us all to be rich and to give back to society. I want to, I just haven't been able to understand how. Remember how it was in college when you didn't get it? Were you stupid or was the professor bad?
Not knowing if I fully understand your points correctly, I place my 2 cents here: Think about something like relativity that was originally very complex beyond people's understanding can be finally and approximately simplified to E=m*c^2 for general public to learn and comprehend. Perhaps a similar process has not been developed/ implemented Yet.
...thanks for that line of approach. I'll give it some thought. Incidentally, I prefer one minute myself. IMO the trend lines and channels draw cleaner than they do in five minute. BTW, I was iceberging right along in that NQ trade until I discovered that I was really on an ice floe. It melted.
...Jack gave you credit for bringing him here, so I presume you are annointed. Care to weigh in? This is a respectful invitation.
the post above is not refer to you or jack, it just take me back to my college years. Jack goes where he want to go and misc.invest has become horrible place to start any kind of thread so I think it is best to get him here as I said somewhere else most of his stuff is way over my head I was hoping somebody here might be more in-tune on ET show up and so far he seem to light a spark here and there but nobody is on fire yet so I am still watching and waiting just like you.
...Jack has been around long enough to know that you never mud wrestle with a pig because the pig likes it too much. So far my Jack chart today has so many lines on it that it looks like an autopsied cadaver. It will have to settle for a cremation rather than adecent burial given how little I have made.
...I don't like him. He is an obdurate recalcitrant atavistic recidivist who has failed to embrace the teachings of my master. Jack is the king of stock pickers. With his ever increasing money velocity and the inexorable magical mechanics of the compund interest equation, he will soon be buying and selling whole countries.
My point is that the methods are easily testable but not comprehensive... i.e. taken as is they will fail backtesting period. The doc I have on this (SCT jack calls it) - states that it is an expert method... now this is going back to bubba/Jack Hershey stochastics thread days. To me "expert" means that you have acquired and mastered other skills and concepts before using that particular technique. Further -- this implies that there is some amount of discretion going on above and beyond the "rules" of the system as stated. (I am making inferences and assumptions here which I believe is the main source of frustration with Jack -- the obtuse quality of his posts leads to ambiguity) if you look at threads where Jack talks about the 2bar method he fights many "hey! you didn't follow the rules" accusations. I am not saying that these additional rules and guidelines could not be coded into a system. Surely they can -- but that's not Jack's approach to trading and this is reflected in how he presents his ideas. Lookit -- Jack is from a completely different generation than most of us here. He kept charts by hand! His roots are in an analog world... most of us here grew up on computers and nintendo (atari for me) and we have a different way of thinking about these problems. As far as high concepts go (I borrowed this term from the film industry http://www.screentalk.biz/art043.htm) I see four as a foundation for everything he talks about: -PV relation -Pace and why it matters -Channels (plus The relationship among these) -Pro rata volume If you only get 4 things from Jack these are great choices. Once you nail them he makes lots more sense. JT