Hey Jack, what's up with posting in other threads and abandoning your own thread? http://www.elitetrader.com/vb/showthread.php?p=3959679#post3959679
This thread started from scratch, it contained a lot of information and it provided an interesting set of drills, but did we ever reach the promised destination (SCT)? If we have already reached SCT, and I've simply missed it, I apologize. My mind is rather numb after spending way too much time, while waiting for this thread to resume, reading inane discussions about Topsteptrader??? and Is daytrading worth it? Any chance of you continuing with your journal of learning Jack? Or has it already finished? -river
river: just know that waiting is a very important part of trading. And traders might prefer 'light' discussions during the waiting.
I'll jump back on this thread and wrap up the early drills . after that I'll begin to post look up information that anyone can use to have a complete trading system
River: In the mean time, you could catch up on the drills and post them for the benefit of others. Jack said you don't have to participate, but it shows your desire to work and learn the process. I don't think anyone besides me has completed all the drills. Who wants to continue teaching people who aren't willing to do the work? Complete the drills, watch the market.
Wow what an amazing student! I hope its not gonna take you ten years to realize that you are following someone that tried his whole life to trade successfully, but still didn't get there. I guess he feels better when he takes other people for a ride, so that he is not the only failure.
Alkene, I love your work. Dont let gltrader ("has empty unbuilt mind") distract you. Keep up the drills.
Wilddog, I wonder if you know who wrote the following words. "I don't read Jacks writings. Too difficult to understand." I am happy that, "Jack is [no more] way beyond (my) [your] intellect."
Hi everyone, the only one who can prove anything to you is you. We are all grown ups here and if someone suggests something exists why not see for yourself This is exactly the process I took when first starting out with this thread. I have read a bunch of Jack's posts and literally set out to prove his theory wrong. I'll be the first to admit it's a struggle understanding his posts sometimes and I was also disappointed with the lack of clarification on the leg 2 identification . So first on the agenda was to prove volume doesn't lead price which is the core of the whole system, turns out volume DOES lead price..(whenever there is significant volume there is significant change in price and vice versa).cool ... Next all this parallelogram stuff and the FTT ,at first things were not clear at all, but as I did more and more work finding the FTT got easier and drawing correct parallelograms gets better too .i have to say I'm a bit obsessive so I'm on the computer all the time looking at charts and comparing volume levels of legs in a trend. Obviously things are not peachy all the time ,fed announcement day is always a challenge, I'm still not a 100% sold that I can always use the carry over from the day before, there is mention of annotating 3 fractals and trading the middle one???(kind of get that but the notion of jumping fractals pisses me off time and again) In conclusion of this method (for me) there are too many things I can see that make sense and proven to happen time and again that I decided to stick around.also the main attraction with SCT as it is being presented here is that if x happens it means y and you could anticipate z to happen ( in a totally unbiased programmable manner) So as the info is presented here I will go about proving to myself that this works and that it is making money before risking $$$ I started trading a sim account in March, and am only taking the very obvious trades. For me that means I'm doing my best to identify the correct parallelogram to draw based on volume levels of Dom/ non Dom legs, if I can find an FTT that does not reach the left trend line and a subsequent break of the right trend line with rising volume I take that trade and do my utmost best to hold through that new parallelogram (really hard to wait sometimes as I still don't have 100% trust in the system or my ability) In 24 trading days i have had 7 losing days and I'm up 60.5 points ( only trading 1 contract and accounting for commissions and the spread on each trade) , my average is 4 trades a day. Not enough of a sample size and A far cry from 3x daily range but perhaps as I learn it will get better. Hopefully this thread becomes more active...
Alkene, Echoing wilddog's sentiment, ignore the detractor. You've done nice work on the drills (I especially liked how both you and "market" signed your work for drill 8). I, along with many others lurking here, have completed the drills. No one is going to learn anything of significance by looking at an attachment of someone's work. They may, however, learn something meaningful as they work to complete the drills, unaided, by themselves. Perhaps the detractor, for his own benefit, will consider the implications of nir's post. It looks like this thread is regaining some momentum... -river