I think it is human nature. I have often told people thru the years to just follow the program. PVT, Rockets, Icebergs, and then SCT. Everyone jumps straight to SCT. Jack has put together a comprehensive program to help people learn to trade and put a little money in their pocket while they learn. If you cannot keep a Universe of stocks and rotate them accordingly, why would you expect to have the discipline for SCT? But many do think this. I realized that a lot of people on this site have no education, and let's understand that a college degree does not make one educated, it makes one trained, and there is a huge huge difference between the two. A program has been laid out over a decade. First learn PVT. Then, be a rocketeer. Then Iceberg. Then SCT. So simple, yet, so hard.
For others who are doing the drills. (THE "work") You are building your minds to be able to "read" the market just ahead of how and when it unfolds. Soon you will recognize the interlocking order of events on the fractals surrounding your hold/reversal trading routine called MADA. The movie "Margin Call" is a good example of the two groups who trade the markets. Those who know how the market works and those who do not. I have never seen a financial firm where those in control knew how the market works. Their underlings were powerless. See "Moneyball" to find out how an astute money manager rises like creme to the top by letting his stat guy (Pete) coach his players to refine and develop their demonstrated skills. Watch "The Temple Grandin Story" over and over until you figure out how a mind is built from scratch. I had myself wired last night for an 8 hour recording session. The raw results will be 6,000 pages long. Tuesday, I get the prescription for my new appartatus. From that I will have a specifically tailored machine attached to my oxygen collector so I will not be permitted to stop breathing at night ever a gain. I had my first expeience of a machine pumping up my blocked system to the point that my system woke me up each time the pressure got released through my closed mouth which was blown open to wake me up. It is such a cool thing to get wired up to make a machine handle the symptoms by brain wasn't handling. I get my bionic eyes sandpapered in laser surgery on the ninth.... Got got trifocal lenses and I regrew my cornea's after they punched about 70 small holes in my pupil boundaries for pressure control (to keep my retina's attached). Popcorn is such a good idea for the non learning public who just reads and stays in the CW of the financial industry. Watching them do their Behavioral Finance errors and shortcomings is a lesson to us all. (See "BF or BS?" on Behavioral Financial home page. Also read the mistaken pseudo science of Andrew Lo of MIT and Congressional Testimony fame. B2B 2R 2B ....lol How neat it is to move from three up/downs to two left/right triads. The Holy Grail turns out to be an orientation that is orthogonal to the CW. What a cool paradigm shift!!!!!!! The blind can't see it at all and they prove they can't. Party time for me.....
"As a matter of fact we traded live for over a year in a thread and you were here and you missed out. check the date you joined and check the dates for that year and see that they overlap." Can anyone link to a year of live trading by Jack?
or that the SEC issued and withdrew citations for "frontrunning"? As they say......I might have been born on a turnip truck, but it wasn't yesterday........... or something like that......
I am not xioxxio. He is trading Jack's method although he doesn't know the laterals and FTT. I am far from this stage. I am only a pre pre pre SCT beginner.
If I had to pose a question to Jack, it would be "Why do you put such an irrationally small amount of capital at-risk on each trade?" I know the stats on my own strategy pretty well and they don't stack up to what Jack claims he's able to do, yet I also know that if I used an aggressive position-sizing method like Kelly or optimal f, with a single year's worth of trades and compounding capital, I would be the entire market. If Jack's strategy is so bullet-proof, he should be risking 50-60% of his capital on each trade (again, according to the aggressive position-sizing methodologies, given that my own strategy results in a 40-50% recommended amount of capital at-risk per trade, not that I take it, but that's what I should do to maximize total profits over time) and making commensurate gains. Put simply, on the basis of Jack's own claims regarding his accuracy and trade frequency, it is impossible to deduce any outcome other than that he should be many, many times richer than the richest people alive. Anyone who can't see that is blind.
Monkey, look at the people who actually traded this method, made the calls, and posted their results in their journals, monkey.