I edited my post after you posted sorry. I am just here for the moment but let me make a few points. First of all it is difficult to come to a strategy to take advantage of the markets continually. That being the modus, the P, V relationship comes into play very heavily. There is a major difference from focusing on details and trading to make the potential that the market offers. The Prologic PhD example, most recent, demonstrates that Prof has the proper handle on looking to trade the potential while his PhD collegues blew it by focussing on the details. Tums cannot discern that there is an alternate to details only or using details along with the context in whwich they reside. As someone stated to KC, it is not possible to sell the talk without the backup in transferable actionable information. The strategy that is being affected in Spyder futures is strategically determined to convey a beginner to expert in about six months. This is how long it takes to learn to "swing the bat". Incorporated in this is an anti-whipsaw construct. What is worth seeing regarding the above are camtasias of the market as recorded by just grabbing the screen in real time for the 6 and 1/2 hours. The caveat is that you are looking at my screen as recommended by SCT trading. Only about 20 to 100 people do that here at this point and they are only using part of the screen display. What will happen over 6 months is that a person will burn into his mind the ability to monitor on about 6 levels where each one adds more to the screen display and only at the time where the person has proven to himself he has grasped the former level. I would show you the sixth level at either trader'sExpo. We show the screens on a display (crowded onto a laptop or on twin projector screens) so that we control the 6 and 1/2 hours in such a way to advance it to the critical decision points rapidly and then slow down to real time to narrate ahead of the market (this is an automatic for me whether I have seen the market before or not). What I point out is how the smart money is operating (a coded display), how 4 games are played on DOM (button display with stalactites) and how tick charts (1 tick range level) carve through reversals. All of this is on a "fine detail". Concurrent with that are the ES "coarse detail" and the YM leading the ES "medium detail". We train people to build their minds to be capable of trading by following a routine of four parts. The essential ingredient is to be able to use data sets from monitoring and make a comparison with the "conclusion" to be drawn by the selection of a conclusion from a finite set of conclusions. The two subsets into which all conclusions fall are: continue or change. This is refered to as the "mode" of the market. Here in ET this kind of thinking is not regarded by most members to have any value. The fact is, though, by knowing the mode of the market a trader may always continue to be in the market and be on the right side of the market. A person simply "holds" a position duing "continue" and is relaxed and confident. When "change" comes up 20 to 40 times a day , it is a direct consequence of leading indicators of ES price. Here is the punch line you have been waiting for. "Smart Money" offers leading indicators of ES price at the following locations on the display that is advocated by the SCT trading: ES volume, ES volume bouncing ball, YM volume, YM bouncing ball, YM price, T &S, DOM button, DOM 4 games, DOM stalactites, Stretch/Squeeze display (using indexarb. com offest), ES tick chart volume and price and YM tick chart volume and price. We sweep the display according to a plan of "steering" and "focussing" involving coarse, medium and fine whereby a "sufficiency" of data set is determined through practice. A complete least element data set is extracted to show the MODE of either continue or change. When change appears, the series of laps doing the four part routine, then focus on the carving process. To give to the pragmatic sense of timing on all of this, I can go through the 20 to 40 actions (actions are reversals that lock in profits and simultaneously change the side of the market that the SCT trader is on) in a day in about 30 to 40 minutes. In training a 2 hour session is used where two things are going on: questions string things out occasionally and I do more than one 6 1/2 hour day. The anti-whiplash aspect deals with one topic only. Taking an action that turns out to not be correct during a given time. This involves two things: recognizing that you are not on the right side of the market and correcting the situation to get on the right side of the market. The two actions result in small profits or a wash trade. This is not an obvious comment so let it go at that. You may incorrectly conclude that a person looses money. That is because you do not at this point understand the nature of the "change" conclusion set. The smart money signals lead the ES price by varying lengths of time. Rather than list the lead time range for all 17 of the indicators that sinal mentioned above, I will give you some ranges of the simpler ones. YM to ES about 2 minutes and max of three minutes. Stretch/Squeeze (a YM and INDU comparison using the indexarb.com off set) up to 1 minute but more likely at least 30 seconds on a decaing spike type signal over three minutes duarion. DOM The wall comes into view four ticks of change in advance. At high velocity trading this is a two minute advance warning of a smart moneyy reversal event coming. What you have just read is different than the other posts here; the other posts are all based on the conventional orthodoxy. SCT usues a paradigm that is related to pool extraction and is effected by using three skill based approaches: effectiviness, efficiency and optimization. To do these kinds of things conventional platforms and screen displays are not possible. People who are conventional see the markets conventionally and they use stuff sold to them that is from vendors who sel;l conventional stuff. The quants and PhD's do the same and use the same. Smart money is conventional and so to front run it you have to be parasitic (see Maria's carping on that) and you have to be an anticipator, particularly of sentiment. For automation I use five degree of freedom to calculate sentiment and five degrees of freedom to calculate market pace. Vectors result. These vectors determine the direction of the market and the intensity of the market and how fast both are changing. Proflogic uses a dynamic composite indicator of the market as well. For him some academics can and cannot determine the value of the work he does. East no, west yes. There is a trend to go to the west these days regarding making money. Because you have a conventional orthodoxy orientation, it is possible that this is not going to fly with you and most other readers. That is just fine. This statement is about high velocity trading (making a lot of money per unit time) during all the RTH's. By conventional standards, what I am presenting to you and those who read this in a normal way, it is not believable nor possible. To those who have come to Tucson and those who have worked on the transference aspects of this, it does operate as I have described and those people do make a lot of money on a high velocity basis. This is something that is learned through a process where more and more pieces are assimilated and interconnected. People who make a lot of money doing this do not invent or adapt this or that. They swing the bat instead. It has nothing to do with me inthe final analysis; it has everything to do with knowing how the markets work and having a display that shows what is going on. My views are based upon about 50 years of work and diligence in learning from the markets. Luckily, I am able to pass on what I know and my skills and experience to others. Some people "get it" others do me a favor and do not get it and go away either quietly or noisily. So I have a continual supply of laughs from the noisy ones. What ever you do, try to arrange to see the market operating as time goes by. Most people have never seen the market as yet.
"having a display that shows what is going on" beautiful stuff Mr. Hershey....my ignorant version of that is "trade what is on the screen in front of you"...my huge time investment produced a simple robust channel trading system...that has held for 6 yrs..thank you
Thank you for taking the time to respond to my post. It truly sounds that your demonstration will be one worthwhile, while most are just sales ploy for the latest, greatest black box etc. The latter is the reason I do not attend expos. Your post is one that takes time to reflect and ponder which it has me doing right now.
Prof, I am intrigued. I always thought Mr. M was entirely self taught. It would be interesting to know who the master was.