Oh, I didn't know that Nodoji's approach is similar to SCT. Well, to be honest - I don't even know what SCT stands for But I like nodoji's general points about higher highs, lower lows and very tight stops on some good setups. Definitely lots of value there. I try to play the markets in a fundamental/technical/quantitative way.
What I offered was anything but hard stats. I was sent plots and statements but will not post them here. The old "photoshop" crew will show up and their heads will explode. For once, I would like to see one of the functioning illiterates post some hard facts proving anything they are screaming about can't work. That will never happen because most are incapable of trading let alone extensively testing any system or method. It becomes obvious to many of us that when we started trading some of these posters were in diapers or grade school at best.
well, everything everyone's said about 'results' is certainly relevant I picked on JH's system because as said it's appeared so many times, then there's the load of indicators that have been written I believe specifically for the system and I thought there must be loads of people trading the system I've never tried it and don't plan to since I could never understand what Hershey wrote about the system, or anything else he's written for that matter but my question actually originated with me searching then asking here, there and everywhere if anyone had a NinjaTrader 'MACD Cross' for the chart, that is arrows or etc to appear on the chart - not indicator window - when the macd lines cross I have one for MetaTrader 4 and I really wanted one for NT, although the macd isn't really part of my system, and we know that indicators etc, etc, etc but I seem to have some strange desire to see green and red arrows appearing on my charts in my search for a macd cross I'd looked in the NT forum Indicator forum - did you know they've deleted the 6.5 indicators ? quite a loss as a source imo, particularly since so few 6.5 versions have been converted to v 7 then at Big Mike's forum I came across the 'High Low Indicator' - need to register to download, they have a lot more v 7 indicators than NT http://www.bigmiketrading.com/local_links.php?catid=19&sort=d&filter=h&pp=1000 and funnily enough it was the Gann Swing Expert Advisor that was the first EA I'd played with years ago in a MetaStock v 7.6 , but see in v 11 it's no longer on the list, tho there is a macd cross and a Gann Swing Bands indicator, and the 'GANN Swing Expert' can still be downloaded at: http://trader-online.tk/MSZ/e-se-GANN_Swing_Expert.html along with other Gann indicators etc and there's loads of Gann swing/stop loss/hilo_activator etc type indicators for MT4 I tried the NT 'HiLoActivator' on the 1 and 5 min NT charts I use and quite liked seeing them - the arrows that is, although I can't seem to change their color the Up arrow's a pale blue though the Down is red, but the red stepped line gets a bit lost against the red HeikenAshi bars, while the blue stepped line is very visible so then I got curious about Gann swing trading and while surfing the subject came across Robert Krausz, who you may know is the author of the Fibonacci Trader program what I came across was an article he wrote 'The New Gann Swing Chartist' published in Stocks & Commodities V 16:2 circa 1997 ? what I found very interesting was his trading stats on page 8 of the attached pdf: "Total trades 143 . . . Winning trades 66" . . . 66 ! ! which means he had more losing trades than winners, to wit, 77 losing trades, wow but Krausz's "Return on account 399 %" amazing all this over a period of five years - "1992 to Novemeber 1997" - 2.4 trades per month so, to cut a long story short, Krausz's results prompted me to ask my question
Wallace, perhaps you can find what you're looking for in the American Psychiatric Association's DSM (Diagnostic and Statistical Manual of Mental Disorders)!
Colyn, could you clarify? First you said you knew 4 SCT traders then 2 others PMed you? That is already 6 profitable JH traders, we are getting to the statistically signifficant number! OK, I will calculate a bit. Averaging 5 trades per day with a 65% win rate means 3 winners and 2 losers per day. Since the R/R is 1:2, counting with the smallest tick win in ES, this trader makes 1.5 pts and loses .5 pts, so he makes 1 ES point as a minimum per day....
Bragging and showing off aren't symptoms of success, or intelligence, or trustworthiness. Making your living from selling books about how to trade, instead of making yourself money from trading (Covel, etc.), is a good indication those books are of little practical value (journalistic at most). Many people vehemently denigrated Hershey and spydertrader, but nobody could accuse them of selling anything. They spent a lot of time (posts) spreading freely their beliefs about how the markets work and how should they be traded. On this thread, as on most others, I see typical forumite discussions: largely anonymous people venting strong opinions about things they don't know much (if at all), making unverifiable (if not ridiculous) claims. At least, give Hershey what is Hershey's ... ! (and to spydertrader too)
I said I knew 4 SCT traders. I emailed all 4 of them. 2 of the original 4 emailed me back. The information they gave me I shared. I never said I was PM'd and never increased the total to 6. It's no wonder information on this site gets skewed and misquoted so quickly. I have no idea what the one trader's net per day is nor do I care.