Why the controversy? Jack Hershey SCT system works just fine.

Goinglite · Oct 10, 2008

Quote from Learning_SCT:

Hello everyone, i registered on this forum a while back with the intent of learning the combined VSA / channels system that makes up the basis of SCT method. I did manage to learn it the hard way, through the thousands of pages of confused people posts, nebulous definitions and bullshit theories and i concentrated on what i believed to be the most important, channels and volume.

What i do is very simple. I draw every channel i can find, and only enter those where the volume is confiming the direction (lets say a rising black - decreasing red 1-2-3 formation for a long trade) and i enter the trade the second the point 3 is confirmed.

I dont really care for the obscure definitions of FTT LAT etc, i seriously think those aspects are not needed to trade the method successfully.

Results are really spectacular

So im just wondering, why all the hate then? jealousy?
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Nice post

Can you post a chart, with a few buys and sells? I need to see the "trigger"

MandelbrotSet · Oct 12, 2008

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MandelbrotSet · Oct 15, 2008

It's pretty obvious that since they can't use the "always in" principle when trading (according to PMs I've received they would just end up churning their accounts) TUMS has decided to use it when moderating ... bwhahahahaha!

lilduckling · Oct 15, 2008

Quote from MandelbrotSet:

It's pretty obvious that since they can't use the "always in" principle when trading (according to PMs I've received they would just end up churning their accounts)

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Ofcourse not! Ofcourse NOT!!! Ask any proffesional trader or money manager, and they will tell you such a strategy is fool hardy. Intelligent traders stalk their entries and exits like a lion on the prowl. No way you can be in all day and every day. At best you would have to choose proper trading days in order to be always in for that or those perticular days. Jack states you always have to be in in order to catch the big moves..... yeah, true, but its the same as the Joe six pack that spends $50 a week on scratch tickets..... for years... then one day hits a winner for $1000 and tells everyone like a proud rooster how he finally hit it big.

MandelbrotSet · Oct 15, 2008

Quote from Neoxx:

The three rules are:

You have to be IN the market to make money.

You have to be on the RIGHT SIDE of the market to make money

Money is made in markets through the MOVEMENT OF PRICE

For most of the day, I was NOT IN the market.

Some of my entries were on the LEFT/WRONG side of the market.

I was rarely in the market for long enough, for PRICE TO make a sizeable MOVE.
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Bad acolyte, BAD!

Quote from Neoxx:

I'm happy to stop posting here and go learn PVT if that's the recommendation.
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Same Old SCT Same Old.

Tuck tail and run when the going gets, well, you know ... :eek:

MandelbrotSet · Oct 15, 2008

Quote from stoshski:

Nope, it's like playing the skin flute in boot camp. Right Colonel Hershey???
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LOL

***

Poor Neoxx, he's about to have a nervous breakdown. Hope he starts getting it (and starts putting some of that doctor money into the market ... )

stoshski · Oct 16, 2008

Quote from Neoxx:

Initially, I wanted to be a cardiologist or a cardiothoracic surgeon. My interest in medicine stemmed from my grandfather and his cardiac history... three bypass operations within five years while I was just a child. The image of a beating heart as the symbol of life branded itself indelibly in my mind.

'Why do you want to be a doctor?'

No hesitation.

'Because I want to help people.'

The cliched reply rings in their ears.

A smile or two. A furrowed brow.

Another one for the pile.

Perhaps. Perhaps not.

In the years since med school, my fundamental motives haven't changed.

In hospital, politicking and career advancement were the name of the game. The patients were auxillary. Barely necessary it seemed. My wide-eyed fascination with the science had evaporated... but the lasting desire to help remained. A couple of years ago I transitioned from hospital medicine to community care. My salary virtually doubled, but my outgoings haven't changed.

[/b]

A friend moved to the States after our ER attachment. He'd always wanted to be someone important. After his Stanford MBA, he joined a big Boston VC firm, and now heads their European lifescience division. I spoke to him a few months ago. Lifescience VC... breathing life into the visions of brilliant men. The innovations that could change the world.

Back to solid ground. One person at a time, I was no longer satisfied with making a small difference. I wanted to expand the scale, and I'd finally discovered the perfect vehicle. I almost embarked on the Stanford/Harvard route, but something stayed my hand.

And then, as if by magic, a new and unexpected opportunity. A dazzling treasure, in plain sight. A sure path to angel investing. Nourishing those evanescent seeds. Breathing life into the visions of brilliant men. Supporting the innovations that could change the world.

Now you know my motivation.

Back to work. [/B]
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Too bad your not a neurosurgeon you could give jack and spyder a lobotmy at a discount.

doli · Oct 16, 2008

I'm looking for indictments. Some time back, the SCT traders were grousing about tapping pools of capital, opening Jokers' windows, inserting straws and sucking the pools dry. Much talk of SCT the coming thing, with practioners worldwide.

Could it be that they are responsible for the market's recent troubles?

PTVtrader · Oct 16, 2008

Quote from jack hershey:

Thanks for the two Q's.

The FTT that occurred in the intial read channel of the day signals the beginner to go long.

He does.

His efforts at logging and annotating have some elements that have introduced the fact that the day is TRENDING. He is now long and keeping his eyes peeled.

As any person begins to trade with any approach, the person is striving to get past the intial ingnorance (not a negative word) that is there that he has to deal with.

At this time, there is so much money available to extract that we get to advance skills quite rapidly and wealth is being build rapidly as well.

The period of trend overlap is a very important period. A while ago I posted a pictorial that had all the zones in it for consideration during overlap. It was put up to aid a person who was shifting from CW as a programmer to consider making money using an ATS based on SCT. (greaterreturns). At that time I was oriented to the logic that a person uses to code and keep the coding focussed rather than loading it up with a lot of poor looping sub scripts.

The gold circle comment was along those lines. you picked up on it, fortunately as it is very important in critical thinking as trading learning is going on (especially from a scratch start).

Learners have a tough time because they do not know how to learn and they focus on "wants" instead of "needs".

All learning is happening on the forming bar. NOW is a place where a few things must be considered. As you will see you have the same underlying unconscious concern for the two questions.

As each bar forms after the FTT, the learning person is annotating and logging.

All beginner trades begin on a retrce (nondominant) after a failure to traverse with lack of volume to further extend the range.

The BO comes and it is a volume trough always. Neoxx so far cannot differentiate between a peak and a trough in volume which is the difference between an FTT and a BO in price. we are working on getting the PV relationship to start working because it is where he will find out a pair of variables is involved in trading (V and P).

So as a person annotates and logs from FTT to BO it is dull and a move from left to right horizontally speaking.

After the trough and the BO (they happen together) a lot changes. Most important is that the overlap ends and the prior channel is unimportant usually. BUT it may be still important only if the Volume does not go into the next step of the usual sequence (increasing without color change). There was a flaw (I call them WWT for what wasn't that). you can see that black volume did not increase as anticipated.

At this point sirens are clanging and bell are whistling because we are in a space not normally experienced.

I used to dwell on this using a term that was preempted in the training. The situation is that the beginning trader has to take an action to deal with the WWT and it means he has to Act to get on the right side of the market.

the non posted log of Neoxx a few days back would have shown his whipsaw tradesand his enter exit manner of trading. That is not what a beginner in SCT does. He does holds and reversals and the method is antiwhipsaw in its logical annotating and logging. If you lack logging and annotating it makes holding and reversing fairly difficult.

When a flaw occurs, a correction of the side of the market often comes up in critical thinking about the evidence being annotated and logged.

Here we see rapidly (by the PRV script attached to the volume) that a reversal is required BECAUSE the flaw was eliminated by the increasing volume and the colorcombo being just what was needed.

So a reversal short is taken AND the ANNOTATION is a NEW point 3!!!.

The new point 3 reqires a point 1, of course. the beginner uses the old point 1 since it is avaliable. This is in coding ATS's is what is called a look back decision. The blue channel is precluded for this reason since there would not be a look back.

A major failure (especially in PA trading) is that the persons and coders who do black boxes nearly aways screw this up. the window in a non stationary data base is extremely important. A whole set of phantom logic is required to do it right and to backtest anything.

Beginners keep it simple. Points 1 and 3 have to be on the right side of the channels. Scripting for this is simple and it is a combo of binary and base ten algebra.

So for the boot camp I will introduce a concept and a technique of logging the distance back the nonstationary window goes back. It will be a checkmark in the left margin of the log.

If you wish reflect on two common topics of people who are in states of fear, anxiety and anger while using the vertically oriented CW. Failure to understand lookback causes them two generic problems: early exits and giving up potential profits and then those prifits turning into losses. So this is a BIG principle to understand.

at the beginning of intermdiate when we get rolling in a few days I will introduce the width of the look back as a pane and I will introduce at expert level a second pane that defines the width of "certainty" in the place looking from the future back to the near Present on the future side of the Present.

As we become expert a plateau is reached where EVERYTHING is EASY and SIMPLE because the operation of the market is understood.

Right now I have to deal with people getting to the intial place where they have their first glipses of the market.

We are now at the place where a child would look into the open pages of a book being read to the child AND the child "sees" for the first time that the book has words on the pages and they can be "read" by using "sounds".

For humor, observe some of the ignoramuses (sp) commenting in this thread as detractors. some have been whining away for years under their childish names.
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Thanks, YOUR boot camp instruction has been straight forward, very informative and understood.

MandelbrotSet · Oct 17, 2008

Quote from Godsfinger:

Hmmm.. and all that translates into exactly zero profits in realtime with real money
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