At the final hurdle, when critics will be silenced once and for all and SCT will be proven unstoppable in true mortal combat, Hershey leaves his student in the capable hands of the force and disappears like a true Jedi Knight. But alas, the next chapter is a short one as the Jedi apprentice discovers the light saber is nothing more than a colored pen. The annotations were not a Jedi time travel tool to see into the future, but were common market tools to predict how one could see the past differently. Then the devastating cruel truth crashes into the young Jedi's mind, that euphoria and failure are not opposite extremes but stand next to each other spanned by a small bridge constructed of colored pens and a printer. At last his vision clears as sense returns and the student understands that all along this was a mish-mesh of old ideas culled from real practitioners and padded out with the wildest of dreams and fantastic descriptions. And thus another important chapter is added to Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay. I was wishing Neoxx the very best and never posted here hoping that someone, somewhere, would prove JH correct in the only way that counts - the way JH refuses to, the way Neoxx was going to. But then I too woke up And no one lived happily in Jack's world ever after. THE END.
This from Neoxx, whom I have total respect for considering his tremendous effort to make Jack's SCT work... A week of sim trading, then a week of real trading. Market orders and reversals. Open to close. No stops. The sim trading was characterized by consistently disappointing performances, careless omissions and reckless mistakes. I reasoned that problems would iron themselves out once I transitioned to the real thing. They didnât. I thought a temporary abstention from ET would give me clarity. It didnât. Now thereâs really no difference between sim-trading and the real thing as far as Iâm concerned. If anything, my real trading was permeated by a bland indifference which wasnât present beforehand. A kind of gross insensate detachment, like sitting in a favela lighting hundred dollar bills. Thursday, I went from double the ATR intraday to about break-even by the close, largely through a stubborn attachment to the What-Must-Come-Next that didnât. Fridayâs blundering clumsiness was an even louder message that I was unequipped and ill-prepared. A lackluster week had ended in disgrace. Itâs readily apparent why the majority of IR posters stick to an entry/exit mentality and presumably use stops. Mistimed reversals can be very costly. Mistimed reversals during parabolic trends can be devastating, particularly if followed by a late return to the right side of the market. Two such trades can evaporate an entire dayâs worth of gains. So I regressed to sim-trading today, and after the numerous cautionary experiences, pared back the trading frequency and enforced EOB action. And another sub-par, sub-ATR day. Attachment: blotter.gif This has been downloaded 22 time(s).
Neoxx, you're about to find out why Jake won't call trades. I suggest you pad a basket to catch your decapitated head in. Sorry to be blunt.
"What-Must-Come-Next that didnât" SCT should be changed to WMCNTD Jack was so excited that Neoxx could see the future... it was done and dusted. All that remained was to prove What Must Come Next in the real world How can it fail - the YM leads the ES. The channels predict. It's so obvious until...
Ok big hearted (some say busty) Tara will sort Neoxx out in minutes where Jack's advice turned into psychobabble. 1. Simplify your channels - it's an ancient technique so there's lot of info available 2. Learn to recognize PA signals 3. Use 5 min, 30 min and 60 min timeframes. 4. Use a stop loss. There ya go! No big words. No talk of bringing the future into the present and what must happen next. No pens, printers, annotating. No leaving CW thinking. Just real world stuff that works.
You'll never believe this, but the Jedi Knight Hershey is back to encourage his apprentice... "Could you take the time to be a beginner using the months of January 2007 and February 2007 for 2009 and 2010, respectively to learn how Beginner works having an ATS answer sheet, doing MADA and logging and a print (screw the blotter) to debrief? No you can't; you are too smart, too quick and too freaked out learning failure." Evidently being too smart is a problem, as is being too stupid for SCT to work. But never mind, like any true instructor does when the student can't see the wood for the trees, Hershey will step up to the plate and demonstrate the next 3 reversals in real time... Everyone hold your breath for the master...
Seems it was just a holographic message from Jack and not the real thing, so we shouldn't expect to see a trade being called by Jack. Indeed Jack has left ET and that pulled post was a pre-recorded message from the future. Jack's post has been deleted because it was a private PM to Neoxx (explaining how stupid his apprentice is) but Jack thought it should be public for a short time before being removed. If you can figure that out you'll be well placed to trade SCT. Neoxx has discovered the YM doesn't predict the future of the ES in real life. It's strange because it's perfect with hindsight! I have to apologize for anyone holding their breath while waiting for Jack to post the next 3 turns on the ES. I forgot Jack trains others to do that and if they can't do it - well they are plain stupid or freaky. Isn't that really freaky?
What determines the future prices, is mass human psychology. basicly what most people think will happen, and if they act on that, that will happen. It also depends on how much money you can spend. This means that the contract with the biggest daily volumes in case were prices correlate alot, like the YM and ES, will precede the price movements of the less liquid contracts. price movement is herd behaviour. ES leads YM!
Good logic but not always the case. There isn't an "always in the lead" index that other index traders can trade off... don't we wish it was that certain and simple a money spinner. So I agree up to a point. My beef really is with Jack the bluffer. He knows not to attempt what he knows he can't do, but he sure sells himself and his amazing method to the naive like Neoxx who don't understand the necessity of seeing the master in action rather than talking about what's available. Neoxx is hitting the Smoke & Mirrors Zone and Jack is throwing out disclaimers and calling a very intelligent and hungry aspiring trader things like stupid and freaked out etc. Yet very recently Jack was praising Neoxx for his ability to pull the future into the past and trade What Must Come Next. Instead of clarifying with a quick demo and perhaps showing off a little like any expert in any field would offer, Jack backs off from the action like a whore from a STD test.