Objections to SCT

I'm happy you enjoyed it. Come see me up in the new, high, sky-breaking CME building.
Everyone will have a good time.

 

I agree. That post goes in the ET Hall of Fame.

 

Fair enough.

Believe it or not, others who post less frequently (and some not at all) perform at a higher level of success than I. With equities, many people out perform my original results. With futures, some people see the normal ET reaction, and simply choose to avoid it. I am far from 'the best' at trading in this fashion.

I do not normally hit 3x the daily range when I trade, but I have done so on several occasions. I do not understand this "3x the daily range goal" on which everyone seems to hang their hat. I understand why Jack says it, but for me, a beginner should focus on making a profit first. Later, a trader (after making a profit) can work on making the most profits in the shortest period of time. In other words, If I promised you three times the daily range, but instead, you only made ten points a day most every day, would you think I ripped you off, or thank me for sharing my methods?

Those who decry this '3x the H-L' goal seem to be saying the former.

You do the same. Since the day I started trading full time, I look forward to Mondays as much as I look forward to the weekend.

- Spydertrader

 

When do you expect full levitation to occur since you admit you are just now hopping ?

 

Please, enough! There is no saving you, you did a terrible job with all you lies, the best thing to do is create a new name and start new lies

 

I appreciate your considered response. First, please understand that I am not looking for someone to teach me a method or style of trading. The approach I use is far from perfect, but it suits me just fine.

Next, we still seem not to have come to an understanding about the nature of my Objection "A." At the risk (nay, certainty) of repeating myself, Jack has made exorbitant performance claims. Simple compounding arithmetic would suggest that anyone replicating such returns, Jack included, would soon be richer than God. Well, perhaps that is a slight exaggeration. However, he would certainly find himself on the Forbes 400 list in almost no time. (Is Jack there yet?) However, and I repeat, the argument was made that you cannot keep increasing size indefinitely because of liquidity constraints. And I again acknowledge and defer that this is likely so. But if you apply such limiting logic to a SINGLE trader using the method, then how can a growing aggregate, collectively trading the same method, not run into the same problem regardless of individual size?

Mr. Harold Balls had mentioned recently that he trades 30 or so contracts and that he should increase his size. However, he said that potential trade size is not limitless and mentioned something about not being able to trade thousands of contracts without compromising the method. But if he, himself, cannot trade thousands at a clip, then how many SCT traders can be accommodated due to this liquidity constraint? If you are trading the same method, it should not matter whether one SCT trader is trading 1,000 contracts, or 100 SCT traders are each trading 10 contracts. With the ever increasing number of SCT traders and their growing trading prowess and account balances, what is the limit? Your response was that you do not have individual or collective liquidity concerns for the reasons you noted. Therefore, if you are indeed correct, then my initial argument of compounding into the stratosphere at Jack's stated rates of return is theoretically plausible. And you certainly do not need me to advise you how quickly money grows at such rates of return. And given that you guys can apparently exit any trade without a loss, what would keep you from employing that magical power of compounding to its full potential?

Spyder, let me be clear about something. As you know, I am not familiar enough with Jack’s methods to comment on them with any authority. The little I have seen seems a bit too complicated for my taste, but that is just a matter of personal preference. I think that the underlying premise has some virtue at its core. However, the idea of “always in” goes against the grain for me and does not quite pass the smell test. And, again, I will concede that this is a personal observation.

But I will tell you where I take particular exception. I dislike Jack making steroidal performance claims and then not validating those claims. Anyone who makes such outlandish claims should either prove them, or take them back. Otherwise, it just remains hanging off his nose drawing unappreciative attention to itself. I do not believe that anyone can regularly make 3 times the daily range, or average 4-7% a day. I don’t think that any trader who has actually traded for any length of time would believe such bullshit. Am I just projecting my own limitations? Perhaps. But I don’t think so.

Further, I dislike Jack’s condescension towards, and belittling of, anyone who does not trade in his manner or see the markets in exactly the same way that he does. It is one thing to disagree. It is quite another to condescend. He started it. It irks me.

Also, it is fairly clear that some of Jack’s more sycophantic supporters have probably never traded, or at least have not yet traded his methods for any length of time. The nature and tenor of their posts leave little doubt. This, too, I find irksome. I do not think you are a poseur. However, I believe there are poseurs among you.

So why do I bother? Like you said, I look for chinks in the armor. It is what I used to do in my banking career in corporate lending and account management. Whenever we renewed a client’s credit facilities or extended additional credit, we looked at the financials and the story (management, products/services, market, client base, suppliers, etc.). We looked for chinks in the armor. And whenever you find one, you pull at the string until you see where it leads. Almost always, a chink leads to something more. Just like you seldom ever find only one cockroach.

That, and it passes the time.

 

You are so gigantically puffed up with your own implicit self praise. Do you think you might explode and nobody will ever hear of you again?

 

Hey dont laugh. I knew a guy who had a cousin that said his friend was buddies with a guy whose nephew knew a dude that made a real fortune trading SCT starting in his MOM"S BASEMENT! . Jokes on you.

 

At one time no one believed heavier than air flight was possible.

THEN IT WAS DEMONSTRATED.

At one time no on believed man could go to the moon.

THEN IT WAS DEMONSTRATED.

As of now it is generally not believed that 3x SCT is possible every day.

if its true then LET HERSHEY DEMONSTRATE IT.

 

Proof? None necessary, it's self-evident. Barring a system that never loses because it never trades, a "zero loss system" cannot exist, not even in theory (on this planet anyway). Reason is there are way too many factors that go into price or can go into price for any one trader to ever get a handle on all of them. At the very least there's always the threat of a black swan. Not even so called "risk-free" T Bills are really risk free. Given a severe enough nuclear war, comet impact or other such mega disaster, NOT defaulting will not even be an option.