I have several objections I'd like addressed but will hold them for now out of respect for the OP and his wish to debate them one by one. Still looking for your response to Objection #1, Jack.
Anyway, Spydertrader chose to open his SCT educational thread with the FTT, presumably because it is the cornerstone. Here is Objection #2. Clean channels are the exception, not the rule, in NQ. Its behavior is idiosyncratic in the extreme. Moves very often end without FTTs, if in fact one could define the channel in which the ending move coursed. When clean channels are drawable (usually narrow mid-day ones), they often contain false, even multiple false, FTTs. The consequence of trading them is significant whipsaws and losses, or as Alan Farley wrote "They see you coming." (Apologies, Alan.) Hence my opinion that SCT is tuned to the idiosyncrasies of ES. Fine if so. Good for you ES traders.
Google the word ALL and with specific reference to the journal. Print the results and hi lite the pertinent sentences. If you have any questions that are not global and are specific, then post the link, quote the refences and ask the questions. If you do not understand this, then you will not be getting informed. This is going to be a fair operation here from me. there will be the inevitable people who examplify objections to SCT. You, for example, are not a person who deos work to learn. Youare a "getter" and expect others to feed you or spoon feed you. SCT is not learned by a feeding process; it is done by working as we will be finding out. Hypostomus can't trade NQ using SCT. He states this as an objection and he has been explaining for years that he cannot do SCT or PVT. There is one reason he feels. SCT does not work. For whatever reason there are throngs of people using SCT on about 25 instruments and they are now on different levels of effectiveness and efficiency. This what is going on all over the world. About 100% of them have excel and they all probably have the capability to do compouind interest on a business calculator. Our first level of learning is "ASSESSOR" here we hope people recognize that they for good reasons may no longer be able to do the type of trading we do simply because of their life experience to date. It used to be 4 out of 5 but recently it is looking like the odds are not so severe. One the table is an objection. Your Q has been answered and you are looking up the answer and you are going to figure out what the answer means, hopefully.
666, thanks. Put that keen intellect to work helping me explore the validity and applicability of SCT. What if you concluded it works? Or even pieces of it? I certainly have an open mind re NQ, but my experience is not good. We might induce you to abandon the boredom of EOD trading and trade intraday.
Yes many people use SCT to trade NQ. No the OP can't trade NQ. He also cant trade NQ using SCT for reasons he will tell us about. The reasons will fall into one of two categories. 1. he hasn't done the work 2. he is over the line vis avis convnetional otrthodoxy and as a consequence cannot build the walls in his moind that are necessary and sufficient to allow him to do the work.
Jack, again, not getting you facts straight. Nowhere have I EVER criticized PVT. That time frame does not appeal to me. Nor am I asking for anything. I have a mature NQ system that took me six years and about $15-16K to develop. It is in my experience original and unique. It incorporates elements of SCT which I have found to work for NQ, but with changes so radical that you would barely recognize them as SCT elements. I created this thread largely as an intellectual exercise because I was pissed off at the generally low level of the dialogue here re SCT. I am an engineer and mathematician by training, and the lack of precision and quantification and coding of SCT posters sticks in my craw. I am widely regarded here as a CFI, so who better to play Court Jester to SCT? And I am warming up for the inevitable endgame in Spydertrader's SCT thread. Don't think they aren't reading this. You do yourself no good with them by being obstreparous.
BTW, we have to the best of my knowledge heard nothing so far from other NQ traders. Wisely keeping their own counsel? No doubt! I hope they will dial in when I get to comparing SCT to classical TA. Edit: Old men debating orthogonally! What a hoot!
How many throngs of people? How many people are there in a throng? Which 25 instruments? All over the world? In every country?