I appreciate your detailed response. What if someone has made a tentative wrong turn here at question six and periodically experiences feelings of fear, anxiety, and anger? Any hints for a work around? How can one "build a wall" around the past? Although you have thousands of posts on ET, I've come to realize that you've really just been writing the same things, month after month, and year after year, from slightly different vantage points along the way. Those of us in the remedial learning group, myself included, thank you for your persistence! -river
Predictions by themselves are useless. What counts is acting on predictions and making actual trades. Even an objective and falsifiable prediction, like ES will go up 5 points before it declines 5 points, is not a trade as there are numerous ways to act on that. Would you buy market now, enter on a limit, do what exactly? Manage the trade how? You get the idea.
You see, one has to believe whole-heartily that the market is flawless, noiseless and free of anomalies. You have to "distance" yourself from the ideas in his writing knowing you see enough. Think and practise on your own feet. Mould your own "world" with your own logic reasoning. It needs not to be perfect as long as you practise to monitor and analyze and then stay on the right side of the market. This is the tool Jack uses conveniently to avoid flaws in his reasoning. You are a trader knowing your priority. You are NOT Jack. You never trade like him with complete no fear, anxiety and anger. You are in the safe side to treat some of what he said as MYTH.
The tape recorder Hershey refers to is here: http://itunes.apple.com/us/podcast/trend-following-manifesto/id151217747