Stage 7 - Vengeance Lines the bottom of his/her bird cage with pictures of Hershey. Makes a SpyderTrader dartboard Develops an unusual desire to put their PC in the microwave whenever they see a Hershey 2000 word post. Creates an 8x10 foot glossy of the SCT methodology (must be this big to contain the entire thing), and spends all night driving over it with their car in studded snow tires.
What you describe as 'they work' has been defined long before Hershey. Keltner, Volume Spread Analysis (well defined in Tradeguider's product), and by Richard Wyckoff. There is little disputing of the value of basic price/volume relationships. What is amazing about the cult around Jack is the insistance that Hershey's profitability claims are true and price/volume trading originated with him. Clearly, you are moving back to your "Stage 3" patterns. Be careful!!!
I saw him trading btw 25-60 lots. He told me, and which makes perfect sense to me, is that some of his trade situations warrant a scaling approach (never more than 3 scales) and some involve all in in one shot. As the situation is developing, he senses which type of situation it's going to be and places his trades accordingly. This is all based on his experience and how the market is setting up. I assume the reason he isnt trading 200 lots is that he is very comfortable with his approach and makes more money than he really needs. Not everyone approaches trading to max out what they can make, some people find a niche and comfort zone and treat each day as the same. If you met him, you'd see right away that he isn't some hotshot loudmouth but rather a quiet and contemplative guy. He is comfortable with where he is at.
Bro, I KNOW that Hershey didnt invent this stuff, which is precisely why I am sharing this experience with everyone. My point is that a guy who isn't affiliated with Jack has developed a method of his own and it HAPPENS to resemble what is here at ET. And he makes a great living.
Pick out one technique that you believe contributes to your profitable trading, and I can show you a pre-dated example written in detail (with much better examples and documentation) by at least one if not many traders in the past. Jack's only "genius" is in his lies and fraud. He is good at his 'net presence' and persistence I will grant him that... Cocaine, why are you in the church? If your friend who 'isn't affiliated with Jack' has found his way to profitability without Jack; how did he do it without Jack as his saviour? Do you really believe 'Jack is the way and the only way'? Are you afraid you cannot succeed without Jack? Isn't that strange? Otherwise, enjoy the church!!!!
Nice posts on this thread Cocaine. If you accept off board contact, please drop me an IM with contact info.