BE DO HAVE and Jack Hershey vs Objective Reality

[Spydertrader]

Quote from tazman:

Why? It 'always in the market' seems to rank very high in Hershey's post. Everything else has been addressed by many authors before. I would be interested in your opinion.

Jack's methods, on a fundamental basis, reflect trading at the time of sentiment change. A trader then determines what conclusion to draw from these signals. Once determined, an action is necessary. Which action one takes depends on context. The market doesn't say, "Go long here!" or "Short the hell out of that over there!" The market simply provides the trader with signals for continuation or change. Once one has the ability to distinguish and differentiate between the two, nothing else more is needed.

Good Trading to you.

- Spydertrader

 

[Pr0crast]

Quote from tazman:

Are you planning to turn $10,000 into $15M within the next 12 months?

I think a lot of people don't realize that $10k to $2mil is only 2 pts a day (assuming always buying max # contracts, and maxing out at 100).

I don't know if I would always buy max contracts, but I can say for sure that a lot of us in the hershey futures thread could do 2 pts a day with our hands tied behind our backs.

So many people freak out because Jack says $X in X trading days starting from an account of $X size. My point is that if you freaking divide whatever Jack says by 10 the number is still definitely worth paying attention to. But "detractors" and skeptics can't seem to get past the phrase, "3 times the H-L" without blowing a gasket.

 

[Atlantic]

Quote from tazman:

Are you now 'always in the market'?

Since this is the only unique feature of the 'Hershey Method' that is truly the key to wealth I think the question is an important one.

Are you planning to turn $10,000 into $15M within the next 12 months?

http://www.elitetrader.com/vb/showt...ce+AND+nonsense+AND+exaggerations#post1358269

 

[rhymeswithorang]

"I think a lot of people don't realize that $10k to $2mil is only 2 pts a day (assuming always buying max # contracts, and maxing out at 100)."


Haha, only a true non-trader would write something like this.

 

[Tums]

Quote from tazman:

Since this is the only unique feature of the 'Hershey Method' that is truly the key to wealth

Quote from Spydertrader:
This premise is flawed.

- Spydertrader

Failure To Traverse applies to people too.
;-)

 

[Atlantic]

Quote from Pr0crast:



... but I can say for sure that a lot of us in the hershey futures thread could do 2 pts a day with our hands tied behind our backs.
...

really?

most of them haven't yet even started trading at all - but without a doubt they would be able to CONSISTENTLY make more than what some experienced veterans are able to do (over the course of many years).

bold.

(as far as i have seen it not one single entry and or exit point has been posted so far ... nevertheless that thread stays in the journal section)

 

[virgin]

Jack and gang seem to be a bunch a dreamers,analysts with so much time on their hands that they spend writing book volumes on elitetrader

Not even one single trade in the journal,that says it all LOL
so they are not even paper trading

And Jack claims he could make 2 to 3 times the daily range , that can only come from a FANTAST.

Instead of writing so much on elitetrader, open a real live account and start trading live and then start a journal.

 

[rhymeswithorang]

first sign of an amateur. Gee, I made 2 points today. times 5 thats ten a week, time four that 40 a month and SO ON. Just screams rookie.

 

[virgin]

Rhymeswithorang,



Right !

 

[Harold Balls]

Your talking about conventional wisdom, the JH method is clearly not that. If you cant open up your mind to see another angle of whats going on here, then you will be forever in denial. But thats ok, not everyone can reap what the market offers. Its the nature of this business.

Quote from tazman:

Ok, but you could say that Elliott was also forecasting a change in sentiment.

Joe Ross with his 1-2-3 pattern was also forecasting a change in sentiment.

Linda Raschke when talking about a Short-Skirt or 1-2-3-Push is describing a change in sentiment.

The price action and volume work done by Wyckoff seems to predate much of what Hershey preaches.

However, I have not read of anyone who suggests that a trader should always be in the market. Every one of the above traders would tell you to avoid choppy markets. (The above traders have not suggested you can turn $1000 into $15M within a year following their methods!!!)

Jack is the sole advocate, that I am aware of, for 'always in'.

In your Journal I and II you have had great success with equities. Well done.

Why not always be in the market with stocks? If you can always be in the market with futures, then why not do the same with stocks? Is not forecasting a 'sentiment change' for a stock the same as forecasting a 'sentiment change' for an index future?

Thank you for answering.