Jack, thanks, an interesting compilation. I disagree with your definition of trend trading, but now is not the time, that is lower down in my objections. Now that you are here, did I incorrectly cite a claim that SCT is applicable to any instrument with sufficient liquidity, as opposed to applying only to FTTs?
I don't have Excel, and don't know how to use it if I did. Data from a disinterested, verifiable source is also in order. Are people willing to stipulate that the defintions of trend and channel at stockcharts.com are correct?
Doli, maybe you should repeat them. My intention is to provide my own operational definition of trend trading.
could we dispense with small talk and get on with topic at hand, please. ps. I shouldn't barged in, carry on as you are/were!
Nkhoi, I was merely attempting to determine the bona fides of Jack's technical reference, who is new to me. Specifically, is he of the inner circle? An im-poster (an alias of a previous poster, we aren't allowing that, you know)? En bref, why should I care that Jack posted his spreadsheet?
I tried to link to their channel article, but it didn't work. If you go to stockcharts.com->Chart School->Glossary->C->Channel, there is a "Chart School" article about "Price Channel." I don't care whether it is StockCharts.com or something else. The important thing is that people agree on the definition of some basic things like "trend" and "channel."
Here are several objections to SCT. I believe they should be taken very seriously. 1. You have to use old prints to see performance as a consequence of the prior ET "war" on our prints which were determined to be printshopping by several people. 2. SCT cannot be learned from books. There will be a complete reference book and two companion books in 2007. 3. People who follow or believe in the convnetional orthodoxy will not be able to trade with SCT. 4. SCT does not use the conventional orthodoxy. 5. SCT requires that your platform for charting be able to have blank space to the right of the forming bar. If you do not, you cannot do the routine. 6. You have to do a routine repeatedly during the day. If you cannot annotate nor if you cannot do a 4 step process that involves using a specific conclusion set, you will not be able to do SCT on any level. 7. SCT involves using a paradigm shift away and out of the conventional orthodoxy. If you do not allow for this you cannot do SCT. 8. SCT deals with an emotions set that involves feelings of support, comfort and confidence. If you are locked into the tested and measured feelings of the conventional orthodoxy (fear, anxiety, and anger) you cannot do SCT. See the following scientists on the conventional consequences of fear, anxiety and anger: R. peterson, Goleman, Lo, Repin and CBOT's Shull. 9. People do not forget. If your have memorie of any of the above objections, they are not going away. You will have to build a wal arond your past knowledge, skills and experience to be able to do SCT. This is impossible after a while if you trade using convnetional orthodoxy. The other thing that makes the transition impossible is repeated failure and where you exhibit the well known Lizard syndrome (google it). 10. Learning to trade and especially learning to trade SCT requires that you do a work process (See Nohkoi's answers to Gerry875 recently). Work is the replacement for all the myths of how people learn to trade. In particular, for SCT the work involves sharing responsibilities with the market where you may not do the market's job ever. 11. If you believe in prediction, you will not be able to do SCT. All of SCT trading is in NOW. 12. SCT trading requires an open mind; it also requires that you do a self examination. There are dozens more of these kinds of items which, for this thread, are called objections. This will be a great thread for people to use to come to understand to not do SCT or PVT. I may alternate each dozen objections by doing links to notable objectors after noting their proven objections for why they do not do PVT and SCT. If anyone wants to parallel my efforts please do it will ramp the thread up to speed more rapidly.
Let me help you out. Go to the upper left of the home page and look for the word "search. It is in a black background and it is in white text about 8 point sans serif. Especially check out the two threads about automated trading software and the thread, most recent on "trends". Draw your own conclusions. I'm sure he will arrive soon as he lurks me and has a lack of confidence about my effect on him. It specify trigger is undetrermined at this point.