Now to return to SCT as an example system that might benefit from the use of audibles. I cannot imagine glueing one eye to fast YM and ES charts and the other to the DOM, while somehow trying to keep up with a myriad of slower events, all for 405 minutes a day, less piss breaks. So I would code up the fast moving stuff with audibles so as to focus on the big picture of the shape of the day and its evolution. There is another benefit to audibles beyond workload and fatigue reduction, and that is time to observe the productions of your own mind. If like me, you are your own worst enemy, less time spent analyzing chart activity gives you more time to examine your reactions to the chart, especially potentially destructive impulses. As Tony Pesavento famously said: "You're not looking in a monitor, you're looking in a mirror." Also I find that I see more of the strange shit I like if I am less engaged in the immediate pursuit of patterns. As the old IBM motto went, "Machines should work. People should think."
You've provided a wonderful description of what a trader should not attempt to do. The Hershey Methodology provides a sequence of dominos which fall in specific order. This order changes based on the current context. Monitoring 'all things, all the time' (in any fashion desired), not only provides information overload, but also creates 'noise' where signal persists. To follow a more realistic (and helpful approach) involves setting one's alerts to 'mark' the dominos as they fall. By creating a series of tones which, when the dominos fall in the desired sequence, stream a certain harmonic, the trader can then know the market continues to signal continuation - or the action step - hold. Hearing another series of tones - or better yet, not hearing those which herald continuation - indicates the sequence of dominos has hit a snag. As such, the market has signaled change - or the action step reverse. A clever programmer could trigger the sequences of sounds in a such a fashion that they corresponded to a trader's specific resolution level. Good Trading to you all. - Spydertrader
To wrap up this little trifle, permit me to describe how I use audibles. I have a primary simple-shit system that works on a one-minute chart, highly tuned to NQ. I want to watch it closely for multiple scalps throughout the day, but I also want to take advantage of perhaps fifty rare events which offer trading opportunities. Given my feebleness of mind ("Mothers, tell your children, not to do what I have done! Don't spend your life in sin and misery, beneath that Rising Sun!"), I put a young lady named Vaio in charge. She's very fast, and does exactly what I tell her to do. Hopefully, subsequent models will also give blow jobs. One set of sounds alerts me to about forty price setups (volume need not apply). Another set alerts me to one several conditions of irrational exuberance. Two others signal market cycling. But the bread and butter is six sounds. Three signal longs: "Your setup is approaching", "Your setup has arrived" and "Your setup has overstayed it's welcome". Another three signal the same for shorts. I can literally walk out of the room and visualize the state of the market from the cycling and trade audibles. The beauty of this is that if the computer is quiet, ain't nuthin' happ'nin', and I can screw off. Or on. Or just screw.
Spydie, thanks for the clarification. I knew there was some reason I couldn't follow the bouncing ball. But you recall that Jack DID originally recommend sweeping. I especially like your idea of harmony. That never occurred to me because I see the market as a pinball machine, with the ball bouncing semi-predictably from one bumper (support) to the next (resistance), depending on the english events put on it. Hence my love for machine sounds. Now I'm gone. Did you believe any of that?
Ahhh yes. The sweeps chart. Admittedly, I could never decipher the document, nor can I to this day. However, my understanding of the process informs me that the document is supposed to indicate to the trader where to go look, and when to go look for input. Where are you headed, and yes, as a retired pinball aficionado, I believe you played the game. - Spydertrader
Ah, playing to the strains of "Tommy"! "He's a pinball wizard, there has to be a twist! A pinball wizard's got such a supple wrist!" I am off to learn how to use this monster tool I have created. The world's greatest analyst and algorithmicist cannot trade for shit! Not even with 16 brains!
Spyder, I had been hoping to see a video of SCT being traded in real time. I recall it had been discussed by Jack and some of his students, if memory serves, and was scheduled for sometime by the end of 2007. Do you know if it will ever come to fruition? Serious question. As you know, I have my doubts about Jack and his parables, but I'm willing to be proven wrong in my biases.