BM. Fear? Think fun! Perhaps you will understand better if I quote the words Milton put into Lucifer's mouth in Paradise Lost: "Better to be a Prince in Hell than a Slave in Heaven!" SCT being Heaven, hahahaha! FYI, I don't need your fucking SCT. It is only good for heuristics. One day the worm will turn, dear BM. And you will be backsearching Joe Doaks.
Comrades, perhaps before dialectics, which is argumentative in a subtle way, and which could take an eternity to finish, we could begin with some practical advice for our small-lot, under capitalized traders. The key, as Jack says, is look to the left. What does that mean to the practical trader? It means, at the minimum, that you know where support and resistance are on today's chart and yesterday's chart! That will get you a long way, and knowing the weekly and daily trends, too, will help you make decisions. Will you always win? No, but armed with a little knowledge and a little discretion, as well as the willingness to take a loss -- but not so large a loss that you won't be able to trade another day -- you may make some money in this game.
Jem. When you are as old as I am, you will learn to teach women to associate every human emotion with orgasms. Laughter, fear, pain, anticipation, hope, faith, excitement.
Supporters and resistance are terms too political to be included in trading. If you must think in political terms start with anarchy.
225. Socrates was demonstrably queeer, Plato reputedly straight. Could we please have Platonic dialogues?
Jack. Thank you! Thank you! Thank you for posting! We are lost souls without you. But get off the equities kick. I neither know nor care whether or not that works. I am talking SCT here. And the greatest virtue of SCT is to make us think, "Why". Why the fuck should that work? Especially when it doesn't.
Changing the subject of discussion to equities is a basic disdirection of the Hershey group. The equities trading is standard TA and is not the subject being discussed in this thread. If 'always in the market' worked; why not always stay in the market with equities? Answer: Because the risk is too high and the trasaction costs are also too high.
I mentioned two different times that ET went through the process of checking out trades. Once Nitro took a look at an effort and it was judged to be fake. There you could see trades of three types: winning, losing and washes. The trading was deemed to be faked. The primary reason Nitro used, I believe hinged on the size of the net. There was a general concensus that it was done by using a particular software that Nitro named and said he was very familiar with. This had happened with other people many times before in many other places. The third party broker was an unknown person to me. Someone got a hold of him and asked him to commit to checking out records that did not come from me but were to be sent to him without me in the loop. The broker was first mentioned then contacted and he did feel imposed upon. And he was a busy guy. The person who wanted proof was a person who felt he could impose on a third party and that the third party would have to do whatever. Some papers were exchanged with me out of the loop. The person who challenged me was satisfied by some means that came about by talking directly or spending time with the third party. There was a contest that I entered and dropped right at the beginning. The contest ended. Someone looked up the results and they say the results shows a loss of 24%. I take their word for it. So the record shows that Nitro and others think I fake prints and for big trades a third party and the challenger got to see records of the partial fills and the net on a big trade in equities. Both parties drew positive conclusions as a result. I lost a contest where the loss has been determined to be 24% by a person who checked it out. There is a myth floating around about I cannot trade. There is a myth about no losing trades. On the other hand I have made statements about what I have done as good trading. It may be excellent by some standards. I do not expect anyone who has subjected himself to what is generally known happens to people who trade the conventional orthodoxy to believe me. And NO, I do not care that a person is wedded to that or not. It is their choice. My mentoring efforts have taught me several things. If a person is seasoned and steeped in the conventiional orthodoxy, he has a tough route ahead to surround all of his believes with successor beliefs in any new approach he may try to do. I have learned by personal contact with some seasoned traders that they cannot recover from their failing experiences and become traders after a certain point. I am able to recognize this complex of conditions and beliefs at this point in my life. I have learned from being with people and mentoring them went they start from nearly total ignorance and just have a normal heritage, that as they work purposefully to build their minds (acquire knowledge, skills and experience) that they can from the start, make money. The path to making money is most critically determined to be a path that builds from scratch (this is the ignorant person beginning only) doing only no risk trades and only adding contracts from profits using profits only after the original profits are removed from the original account. There is no such thing in trading as starting over. No one can start over by decisiding to start over. Most traders, and that is the vast majority, fail. They come into trading and succeed at learning repeated failure. They cannot start over. This thread "Objections to SCT" has at least four dozen objections to SCT pronounced and noted. Another dozen objections can be aded by simply copying and pasting thread beginning points. Thus all five dozen reasons (objections) are good reasons for not doing PVT or SCT. i misundertood at the beginning that there might have been a discussion on objections and it was from the viewpoint of misunderstanding or miscommunications. My mistake. The thread is just another of the weekly efforts made by members who are going about thier usual business. My posts here were OT for the most part. This one is too. Those people who pursue purposeful learning to become good or great traders do follow learning processes that are rewarding and sometimes very rewarding. It turns out that in ET there is a person who supports these people who are interested in PVT and SCT. What ET is getting to see is how a peractioner of PVT and SCT helps others unstintingly. He works in a focussed way continually and deftly to go to where the person is (repeatedly if necessary) and brings the person along a critical path towards getting the job done to learn. It is a process and it is not something that can be learned otherwise. It comes down to building a personal resourse that operates like an automated computer would to take what is offered out of the markets. Making money at the velocities possible is being done by this person who is supporting the learning of others. He is on point now as you may know. ET needs a counterpoint to successful high velocity trading. It would be dull if everyone were experts and successful. there is a terrific need for the antodote to fear, anxiety and anger. Shull speaks of this antidote as W W W. but only after she points out things about the effort people make to control their emotions. It doesn't work she says and it has been proven. she says emotions are enregy, biochemical enrgy seeking an outlet. Action is the outlet, she says. She has named a process related to the entry/exit orientation. it is called by her: The Emotion to Trade Oscillator Fear meaning misses caused by inactions Frustration meaning taking half formed set ups to correct for inaction above Feeling really lousy Meaning either quiting or more unprofitable over trading. she trains and teaches ways to disconnect; she deals with the neuroscience of trading. She refers to Lo and Repion's monitoring studies conducted with big traders of big money. She refers to "emotional Intellignace of Goleman she refers to R Peterson of Stanford's "insider's trader's Brians July study. She says that from this it is known that your emotions fire before you decide. Managing and redirecting emotions is called for. She says start first by this manageing and redirecting. Then she says Listen to yourself. Pay attention to your emotions and your reactions. she says the second step is to give yourself permission to to respect yourself and give yourself permissions. You don't do denial with the weather why do it with your emotions and reactions. Do W W W she says When you read her stuff or when you do her therapy and training you get to do the last W. The last W is write furiously...speak into a recorder... use mucrosoft one note flags stuff. The other W's are Take a walk...lol Wallow in it is the second W... lean into your feelings, etc... For people trained in the psych and physio these threads are a cake walk of people doing the w, w, and w. to dispell the energy they continually create as they do what they do. So we have a few of classic examples on ET acting out what trainers train people out of on all levels of the financial industry. The other side of the fence is successful trading and helping others. that what you get to see with the guy helping out with jounals on PVT and SCT. He operates from support, comfort and confidence instead of the plague of fear, anxiety and anger. Type furiously guys; you seem to have a heck of a lot of energy as a consequence of where you are putting yourself day after day.
Yes, anarchy works too. That is why my head trader shouts, "Shake 'em out," whenever he hears of Hershy traders. And with 6 MMM (that's 6 billion US) intraday capital, you should see the havoc we wreak on traders of all sorts.
Except the 'Hershey Group' didn't change this discussion. You'll note the discussion regarding the 24% loss had to do with equities. Now, who brought that to the discussion? Jack? The "Hershey Group?"or someone who attempted to make Jack look foolish? Nothing like ignoring facts placed right in front of your face. - Spydertrader