I agree with RedDuke. Jack is giving a good system for free and putting up with a lot of ignorance from lazy wannabe traders who don't have patience to test and practice for at least a few months.
Who really cares ? Is Jack charging anything? Personally I have found some of Jacks stuff to be brilliant and other parts of it to be silly (at least for my applications). Stop looking for a GURU and take Jacks stuff for what it is. a different way of viewing, price / channel / volume relationships. sheesh, you guys get way too serious about this stuff, make trading fun and you will do much better at it.
That's a rather misguided observation. I would think that the "lazy wannabe traders" you refer to are the ones who expect something to be handed to them. Like a trading system. If some here have succeeded with Jack's methods, then I salute them. However, I personally would be disinclined to commit a "few months" to "test and practice" anything that the purveyors refuse to verify. It has less to do with impatience than an appreciation for the value of my time. Jack's fantastic performance claims have yet to be substantiated. Apparently, we must accept them on faith. Unfortunately, I am not shopping for a god to worship. From what I gather, and I may well be mistaken, there is a fair amount of interpretation in the method. That is one of the pitfalls of Elliot Wave theory as well. Interpretations that lost money in real time can always be reinterpreted differently after the fact to keep theoretical losses at a minimum. That is why performance verification over a period of time would be most useful to anyone who values his time. That is why it is curious that Jack would not provide this detail as a courtesy to those people ready to commit several months of their lives, as well as their trading capital, to learning his methods. Of course, he does not have to do so, but then why make astonishing claims to begin with?
We all know the trading methods are all "OUT THERE." Jack has done nothing new except took perfectly everyday Technical analysis and attempts to complicate it. The real question that needs to be asked is WHY? Ya, i know, i do not understand. ha thats the canned response. ..
When one buys a trading book, does the transaction imply one is looking for a god to worship? When you read a thread on ET which discusses various aspects of any trading method, do you too look for a god to worship? When one reviews an archived USENET post, again, god shopping? Perhaps, you can explain why every comment made with respect to Jack and his teachings contain some sort of pejorative phrase when posted by anyone who lacks the desire to review what Jack has written. I mean seriously, one doesn't have to look that hard to find people profiting from the methods. In both equities and futures you see people posting charts, trades in advance, blotters or execution reports. Did they all simply invent the whole thing? Nobody is asking anyone to take anything on faith alone. If anyone wishes to believe everything I have ever written contains nothing but pure garbage, they are entitled to, and welcome to, such an opinion. On the same token, don't expect me to convince you otherwise. Some people have chosen to 'hang their hat' on Jack's comment regarding a trader making 3x the daily range. Some have even termed Jack's comments in this regard unbelievable, outlandish or delusional. All good and wonderful as far as I am concerned because what anyone believes with respect to the methods I use matters little, and effects my profits none. I simply have chosen to pass forward what I have learned to others who may have an interest. If you (or anyone else) doesn't have an interest, I have no issue with your (or their) decision. Plenty of methods exist in which one can profit form the market. You are right in that the commentary here represents nothing more than grist for the mill. Too bad. - Spydertrader
there is no 'alternate count'. All channel have to be constructed the same way, that is identifying point 1,2,3. point 1,2,3 is not subject to interpretation, either you draw correct channel or you don't. I value my time but I rather do verification on my own performance rather than rely on somebody else performance.
as a side note--- spyder has offered to come to NYC and show me, at no cost whatsoever this method. i have not taken him up on it yet, but its truly an admirable gesture. surely would not be offered by someone who doesnt truly believe they have a workable profitable system. regards, surf