It seems that we are not the only ones to turn a critical eye on the Technical Strategy thread. P.S. See what you started Socrates? ... LOL
So let's clarify what SCT does. It uses the obvious 'hotbed' entry and exit values, albeit tinged and slanted to form it's own necessity. On top of this, it's mainstream bog standard statistical and technical prediction. SCT looks great in hindsight, but there is a good reason for this....it can't deal with the present market. Have i missed anything out? Maybe ljyoung could provide more detail? Thankyou, Dackster.
You're providing way too much thought to this process Dax. Lets put it this way. Anytime a group of people need to stack the deck with moderators, refuse to post their blotters, respond to the challenge of their system being a profitable one with insults and threats of violence, the short answer is: SCT doesn't do anything except waste the time of nOOb believers who are to docile to actually think for themselves. Keep looking at those shadows folks, keep looking at the shadows.
Socrates, I keep a trading blog and have had readers get upset because I wouldn't give out trades, nor discuss any of my systems. One guy, in particular, got mad when I found a pattern in the euro that was working for about 6 weeks, and I wouldn't give it out. I tried to tell him that if I disclosed the pattern that it would disappear the next day, but he ended up going all ballistic and started talking shit. He told me that he got nothing from my blog to improve traders, and that my blog wasn't worth a read.....which is OK by me. I don't write my blog to improve other traders, but more as a mental release for myself. What I want to do most with other traders is to take their money.... Great thread by the way. Jeff
Thanks, Jeff. You indirectly make my point. SCT is about as fully disclosed as an incredibly complicated semi-discretional system can be. But neither Jack nor his closest adherents are being lionized in the press. So it can't be working for average Joe Trader. Otherwise we would have detected some dramatic change in price action in the index futures. They look essentially the same way to me that they have for the past couple of years.
Well, I think we're done here. This is an old game, oft played. I as ET's resident Fool offer myself up to be demolished as sacrifice to prove that SCT can work for the masses. How easy would it be for them to prove me an idiot? Would my base public humiliation not do wonders for the acceptance of SCT? Surely it would be a cheap shot well made. I can see Maria Bartiromo opining: "Today elusive charity trading mentor Jack Hershey, seconded by his closest confidantes, once and for all made their arch nemesis, the murky bottom feeding trading fish H. Plecostomus, burrow back into the deep muddy ordure from whence he came with a clearly incontrovertible proof of the the validity of Seamless Continuous Trading. Our resident TA expert Dylan Ratigan and I had a bet going. He gets to give you your blow job." Hahahahahaha!
Socrates, Like you, I like to keep my systems simple and elegant. Minimalism sure works, despite what you hear around here. Jeff
Thanks again, Jeff. But I am having second thoughts. What if they won't defend SCT because it really works? And I have convinced them that there IS a bottom to the extraction pool? And they've decided to clam up? And let themselves look like fools to keep the riff-raff out? Oh fuck! I'm dusting off my old SCT codes for tomorrow!
Oh, that is heavy, 666! Inferiority transformed into superiority, haha! I doubt that Adler's approach would work with Jack, because he is too rigid a type, the Dominant I would guess, and has no sense of humor to exploit. Also he is too old to change. He and I are very much alike, which assertion he has often heatedly denied. I would use NLP therapy on him were we to meet. It would work famously because he quite mistakenly considers himself an NLP expert. Socratic dialog would not work because he cannot brook any suggestion of superiority in another, and cannot shut up long enough to listen to anyone else. His most visible disciple, Spydertrader, however, is a regular fellow, and is holding out a fifth of 100 proof vodka as a gift for me for when we meet. I hope it is not to smash over my head. Your thoughts, since I am a New Age shrink (viz Dr. Deco)?
OK, my dear friend in Vancouver. Get out of that cozy cafe and flame this thread into cinders! Once again have I failed! Oh, yes, and you, you unrepentant Aussie, do your worst! I have to get ready to trade tomorrow.