Concept for an Automated Strategy Development Process

Quote from subes:



snip ...

Have you considered writing an auto biography? I think not only me, but many people aswell would be very interested in your story. You can make it as short or as long as you please and decide for yourself how you publish that (from a forum post to a book). I guess writing one is not much different from writing anything else, one just has to spend time on it regularly (depending on the size of the text).

If you already have works published or unpublished, maybe you can make them accessible?
More...

I conceded on this a few months ago. It became clear that I completed the market operating system definition.

I also figured out how explaining how the market operating system got its ingredients was a key. The system is and will be unfathomable to most people. This is the result of their heritage and their nurture.

So I am doing the narration of the market operating system in 16 chapters and each chapter is preceded with a chapter that is autobiographical to show how my heritage and nurture just what opened the doors.

I have Dragon 9 and 10,000 pages of prior text. I did 10 chapters in about five days. I have 100's of reference books and I had previously documented the last 400 years of technical developments in the markets.

I will print and give away copies to those who are practicing my methods and helping solve problems in local communities.

I have innovated in many fields. I made it a lifetime habit of documenting such. I never kept copies of anything I did so Liz is collecting those now. They sell used for an order of magnitude greater than their original cost. Libraries usually got them as references and I hope they will dump them as out of date. I always gave copyrights and royalties (31) to NFP's and 501 (c) (3)'s.

I have kept my amateur status to avoid reporting requirements. All my SEC citations for "insider trading" have been withdrawn for SEC determined reasons. They agreed to omit sending me citations although, their detection system continues to shoot blanks.
 
Ok, so there was nothing for me to read on those tabs. It would also help in understanding you, if you leave out information that has no meaning (like the numbers in the braces), it only confuses the readers and creates questions. :)

I too think that any person can become a good student with the right attitude. I myself was bad in middle grade, because school bored the hell out of me. I prefered day dreaming in classes and had no plan about life. After dropping out of high school at the first year of my "Abitur" (which we call it in Germany) because of skipping school to often, I was lucky to switch to a private school that specializes in information technology. I found my passion and went from a C grade to an A grade. This was just because I found motivation and interest for school. I also know other people with a similar story. So I guess we both have the same views on this.

It is good to hear about your teaching and writing.
This is quite a good legacy to give to humanity.

10 chapters in 5 days is pretty good (depending on the size of the chapters). The best I did was 8 pages in 3 hours when writing about the API part of the thesis (which was possible because of the pages filled with class diagrams and code listings).

I mainly collect my knowledge from publicly available books via the cheapest available method of getting them. Just like Aaron Schwartz, who was pushed out of his life for this (http://en.wikipedia.org/wiki/Aaron_Swartz), I don't like information that gets locked away behind libraries or layers of fees to access them. I think this hinders humanity from prospering at its full potential. Though humanity itself does not seem to want this, thus I have to live with the constraints like everyone else does. Though these limitations and a lack of resources I have limit my knowledge to digitized works I can easily find and acquire. Googles approach to digitizing libraries and papers is a real present to humanity, if they sometime decide to making completely accessible for free and IF they are allowed to do it (which I guess will not happen).

It is noble of you to have taught people what you know and to have documented what you learned so generations to come can keep on learning from you. Though I guess your works will be hard or impossible for me and most others to acquire with the obstacles you set to reach them. :/
I can't find one book or paper you have written online, only ones where you are listed in the "thank you notes". What I say will surely not change your views on this, since you have decided to do it like this many years ago, being a mystery to most people. ;)
I just think that doing this in a different way could increase the usefulness of your heritage to a manifold. When just thinking about how much knowledge was lost during history because of various reasons (libraries burning down, people burning books, information being ignored to rot away). The only way to keep knowledge alive and lasting is to spread it as much as possible, to influence as many people as possible with it. That is why I have the idea of making my lifes work public by open sourcing my work and knowledge when I die of age (which I hope to do). I hope to collect a wisdom that is worth to leave behind in a fashion how many rich people decided to leave behind half of their net worth for good causes (http://www.guardian.co.uk/technology/2010/aug/04/us-billionaires-half-fortune-gates). Heck I even often think about working on this platform (which I wrote this thesis about) publicly by making it open source at an early stage. But I don't know if this is really a good idea, I can't tell right now...
There are people who share my views on this, but I think we are still in the minority, or maybe we are just to naive...

I will go on to uncover the mystery about the fourth pillar now. :)
 
Quote from river:

subes,

You might find the attached two works are a good introduction to Jack's methodology.

-river
More...

Thank you a lot, so his real name is "John T. Hershey". I will read that immediately. :)

-- Edit:
Wrong, this seems to be his son!
 
subes,

It looks like the other one is too large to attach. Google "Channels for Building Wealth" to find it.

-river
 
I am more oriented to Pete Peterson and his head honcho Dave Walker.

As time has passed they have shifted more to understanding and motovating government practices.

I met Pete when he was a cabinet member (Sec of Comm) and I worked at EOP (Executive Office of the President).

The IRS has completely stymied my apps for a 501 (c) (3) so I just do the workaround of taxation and then donations. The IRS connects my views on giving information and educating on making money as a non-charitable undertaking.

For authorship, you have to use official names and the suffix dot au.

For teaching elementary children how national governments work we used packs of feral dogs.

Before they begin we had them do manhole covers to get a sense of neighborhood growth.

I was lucky in school. I was allowed to just take tests and spend free time in unused labs (with a key to the supply room).

My kids never went to public schools (US terminalogy). Kids only go through school once and it has to be done by majors in the subject rather than majors in educational pedogogy.

I succeeded in getting IBM to take computers out of storage and put thme in schools; getting enough power to computers was fun. Teaching geometry using punched cards really works. Now there are PC's Then, there weren't.

All my years of teaching included "Enviromental Math". Environment meant money, since all kids I taught were rich. We always went to the NYSE when a kid had a birthday. It was before the glass protection, so they always were sung happy birthday from the floor. Every year at least one kid was able to create the funds for college; it took an interested parent, since accounts were owned by adults then. There was always a lot of parent interaction with admin for class positions. I preferred the "left over" type kids.

I made the middle of my classroom a place where crystals originated. we grew four of the six xstal forms using straws and string. Over the years some hallways looked very cool. Fastfood chains were well represented.

We made outdoor classrooms from precolonial stone paving we retrieved out of dumps. I still have some stones with me to this day. It was ballast in mercantile ships from Europe before becoming paving.

All my stusents position traded and had newspaper subscriptions. They clipped articles for the chapters of "How to Lie With Statistics". My classsroom had a full
broker service from Standard and Poors. So students had to come early to do the daily add and delete. We did charts and TA by hand. We had 10 copies of annual reports arranged alphabetically on one whole wall of shelving. We used the 7 Keys to Value for fundamental analysis. At midnight one year my doorbell rung. Two kids were there to discuss an 8 million xfer upon reaching age 21. More important, was sky jumping which parents would not allow (we wrote a positon paper to cover the jump). Money for kids is like religion. Everything can be learned from money. I loved seeing math depts accept kids where the school would not accept language majors (rich kids are usually liberal arts oriented).

I didn't have to work after my first job. So I just did cutting edge stuff all my life. Its the same common story. You save from first job and then just make money with money. You can't cheat in trading and there are huge piles waiting to be extracted. I nver saw a teenager who couldn't position trade successfully (before PC's where charting took work). The PC wrecks minds as you see in ET.

For oldtimers: I get to fly on the Memphis Belle on Sunday. We bult the hanger on Mud Island (an Island adjacent to Memphis) many years ago (See the book: MuD Island Story" where the cennterfold is the design (Arch and planning types) iterative refinement invention from U of Tenn Arch school (I was ADJ Prof there)). Same applies to FI iterative refinement.
 
PCs make things so much easier by making knowledge available en masse. But that knowledge is also a huge hindrance in ones development. You are bombarded with useless information and don't spend enough time with the important information to fully grasp it. Thus the PC also becomes the greatest hindrance.

I follow the advice of "The 4-Hour Workweek and Timothy Ferriss" to have an information diet. I don't watch TV, I don't follow news and I try to spend more time with knowledge that most other people do not consume every day. This is because I figured that knowing what the masses know makes you like the masses. Knowing what few others know, gives you an advantage. Today you can make important information publicly available for free, but it might still be forgotten because no one takes the time to worship it. So even the best system you publish will be disregarded by the masses and only be filtered and used by selected few individuals. That is why I think with more freely available knowledge, the world will still not change much. It will only make it easier for those people who realize they are put into a rat race to escape from it. There will always be rats running in the rat race, because it is still a lot of effort to escape it. Not everyone wants to put that much work into it. I am still a member of it though. :/

You, Jack Hershey, have given many of your pupils a way out of that rat race by teaching them position trading I perceive.
 
you provided this picture depicting volume as the pillar:
"the independent variable volume.png" http://www.elitetrader.com/vb/attac...&postid=3758646

traitor786 also mentioned using volume as a filter with his comment:
"P.S don't forget looking at volume during your screening. If you can program maybe you can get some ways to compare price and volume without having to give up a "seat in your living room". "

-- I guess you both talk about the same thing here. You suggest a filter that looks for a buy opportunity by measuring volume. From what I know of volume, it can be used to detect trend changes, because volatility of volume increases during these market phases. Thus the "suppression" you mean is a filter that prevents a false entry signal to take place if there is no volume to back up that trend change (which you describe as a new step in the cycle). Volume could also be used as a signal in that regard, not just as a filter.

I am not sure if you base your pillar on volume alone or on volatility of volume though. Anyhow, this is surely some interesting filter/signal to experiment with. Though as long as I have not validated this, I won't add it to the thesis. The explanations about value investing are based on Phil Towns books. I say there that more experimentation with rules is advisable and I guess this includes a potential filter/signal based on volume or volatility of volume.

Thanks for putting this in front of me. Correct me if I am wrong.
 
You must log in or register to reply here.
Back
Top