Why SCT can never be successful

deity · Sep 20, 2007

This question in the journal thread sums it all up

Quote from Failure2Travers:

I've been studying this system full time for nearly half of a year now. My charts have been fairly consistent to what Spyder has been posting as far as annotation is concerned. Here is my current issue. I notice that at one point this morning, I could draw 3 possible FOREST level down channels confirmed by gaussians. I could also, at the SAME point in time, draw 2 up channels at a forest level as well. Regardless of whether or not I am with the trend, if I am not in the one out of 3 possible channels for the down trend (or one of 2 for the up trend in this example), I can still miss a successful trade. Why? Because one channel may signal change (with a BO), while another will have price traversing perfectly within its walls. If I readjust, then the market is going against me for 3, 4 possibly 5 points. I've seen people ask this question before, and the answer has always been "look at the gaussians". This answer does not provide me with enough information to understand how to correct my problem. How do I know which channel is the most valid forest level channel?
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It all looks good after the fact but in the heat of battle..

oddiduro · Sep 21, 2007

Quote from deity:

This question in the journal thread sums it all up

It all looks good after the fact but in the heat of battle..
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I'll give this one to you, since you are obviously searching, but just too proud to ask.

Tape the 2 most recent bars. Trade the breakouts.

Best Regards
Oddi

deity · Sep 21, 2007

Quote from oddiduro:

Tape the 2 most recent bars. Trade the breakouts.
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Uh huh.. and you take 2 asprins and call Jack in the morning

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Why SCT can never be successful

deity

oddiduro

deity