I have a lot of respect for you cause you are older geezer and yet you have passion for trading like a 25 year old
Having traded the index futures way back to the old Valu Line at the KCBOT, I've personally detected much recent dramatic change in the price action through the particular lens I'm looking through. However, I'm sure that you'll understand that I won't tell you what lens I'm using, and what changes it's detecting Jeff
Jeff, I have a half-dozen indicators that are nowhere to be found in the literature, so I totally understand. They are so precious to me that only my wife and my mistress will inherit them. But at least tell me, is your stuff trivially simple? Mine is.
Socrates, I learned how to trade wheat in the pit from some old guys who cut their teeth in the 1930's. I soaked up every bit of wisdom I could from those old guys, who knew what they were talking about. They taught me the beauty of simplicity, and the fact is that my methods are out there for all to see in the open. My methods are so simple that the untrained human mind cannot even understand them because they're sitting right in front of their face. While not the holy grail, my methods have served me well these past 30+ years. Sadly, most people want, not only the holy grail,but to be told what to think, how to think, and when. I have no time for them. Jeff
A Salute to Technical Strategy What a wonderful roasting of Jack weâve had Many say those who trade SCT are just sad But I see them as a hardened group of iconoclasts Who believe they have something so rich itâs a blast 3x the ATR and pool extraction is Jackâs promise to the world All you need to do, he says, is just give SCT a twirl But those who do seem to be the biggest fools of all And âtrading with Jack Hersheyâ will surely result in their downfall Those who are neutral wonder why we do SCOFF Well, maybe if there had been more naysayers, we would not have had a Bernie Madoff
Good story, Jeff. The system I trade most is in your face on every time frame from tick to year. And MBS, congrats on the first SCT poem, haha! Tempting, about once a year we are regaled by Dr. Pangloss educating yet another Candide. It always ends the same way. Calls for that cup of hemlock.
Here is what my SCT-lite code did this AM: 2 trades (initial short, then reversal long, always in!) 0.96 times the daily range 10.63 ES points after commission and average slippage. Gotta love this SCT, hahahaha! BTW, the volume study is there just to give you something to keep you busy looking at so you won't second-guess the totally price-based code.
Since I color unchanged bars blue, I had to invent four new volume change categories: R2B, B2R, G2B and B2G. SCT traders may beel free to use these with my blessing.