Very nice post, Spydertrader. Im glad to see that you are doing well with Jack Hershey's methodology. I've added certain parts of Jack Hershey's methodology to my methodology and it works just fine I have a different attitude than most folks. See, I don't really care if a system works or not. Im just looking for a few ideas. When I find what I want, I simply know how to "make it work" Goinglite
Mak I can see that Jacks method is much more complicated than anything I have tackled so far and that is why I would love to see some proof it works before I invest as much time as some here have with no results to show for it. He claims to be able to catch almost every turn in the market and surely you can see that anybody who has traded a bit is going to find this claim a bit difficult to believe. The IB execution sheet is timestamped and to see the 20-40 trades alongside a chart would convince me that it does, indeed, work. However from reading past posts I see that this has been requested many times before so I guess it is not going to happen so I will drop the subject and move on.
Once there is agreement that: The SCT approach as taught by Jack on ET does not work. Then SCT concepts can be discussed to determine which part of Jack's method has merit. Sweeps, channels, spike/2pair, FFT, FBO, R2B-B2R, etc., etc., etc. What parts of this method are helpful? That question seems on-topic and reasonable. The fact that the basic question of profitability is met time and again with toxic posts is in itself suggestive that the method does not work, or there is something very basically wrong with the way it is being presented. Perhaps too much personality and too little reality. I would like to find out.... Thank you Spyer for your post... I will keep looking for someone who successfully trades Jack's method as it is taught on ET. Best Regards.
It isn't on topic, nor reasonable. If the entire premise of the thread involves how SCT does work, as well as, learning how to trade using SCT, then clearly "Let's all try to agree SCT doesn't work and discuss the parts that do work" is a topic for another discussion. Start another thread. With respect to 'finding people on ET that do trade successfully using Jack's Methods' look in the Question for Grob / Hershey Thread. - Spydertrader
The title of this thread is "SCT High Velocity Profits Q and A Journal". What 'profits?' What question can be more important to an open thread? "Is the SCT method as taught by Jack profitable?" Why the complete reluctance and inability to address the most basic question of any trading journal thread? I am glad to be posting in an open thread the questions others have asked before without success. Thank you.
I must have misunderstood your post .... The above declarative falls opposite of the thread as explained in Jack's first post. Why not start another thread to discuss your premise? Simple. - Spydertrader
Here is my example of always in trading and an example of what a screen shot of an execution report looks like. Please note that Hershey claims I am an airhead beginner, so please allow me the indulgence of posting these pitiful results of net 8 points on 10 trades in the morning session. BTW these trades were made using techniques not having one whit to do with channels,VDU,PRV,FBO etc ad nauseam. <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1202882">
Spyder you may have missed this earlier post. I am not offended in the least if you do as Magna suggests and put me on ignore. Thank you.
these are deliteful results if u are not on a sim and even if so it looks very promisin'. if it's not a one off, congrats and keep it up.