Errors in the Hershey Futures Method

[Joe Doaks]

Erreur numero cinq: NOT ALL TRENDS END IN FTTs.

(Yes, yes, Nkhoi, the expert practitioner such as yourself already knows this, and trades traverses not channels, but TTBOMK the average Spyder's webber doesn't.)

There is a broad class of frequently occurring channels which ends with a BO from the right side. It is easy to predict on which traverse this will occur. (I use Hershey terms, retching as I do so, to make myself clear.) It is equally easy to predict that a better entry awaits after the BO. So the accolyte Jacker misses that a virtual FTT occurred at a clean to-the-tick traverse, scrambles at the BO, and gets slammed by the retrace. Who are the uber-traders here? Jackers, or the limit order traders who construct that pattern? As Alan Farley wrote: "They see you coming."

 

[Bearbelly]

Quote from Joe Doaks:

[ It is easy to predict on which traverse this will occur. [/B]

 

[Joe Doaks]

As Jack is so fond of saying, BB: "Do the work!"

 

[callmate]

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Quote from Scientist:

When a true genius appears in the world, you may know him by this sign, that the dunces are all in confederacy against him.

~Jonathan Swift; Thoughts on Various Subjects
~The Scientist

 

[trader225]

Quote from Joe Doaks:

Erreur numero cinq: NOT ALL TRENDS END IN FTTs.

There is a broad class of frequently occurring channels which ends with a BO from the right side. It is easy to predict on which traverse this will occur. (I use Hershey terms, retching as I do so, to make myself clear.) It is equally easy to predict that a better entry awaits after the BO. So the accolyte Jacker misses that a virtual FTT occurred at a clean to-the-tick traverse, scrambles at the BO, and gets slammed by the retrace. Who are the uber-traders here? Jackers, or the limit order traders who construct that pattern? As Alan Farley wrote: "They see you coming."

You're talking about an up channel, price fakes a breakout of the lower channel line, then retraces upward, right?

I guess it could be a down channel, price fakes a breakout of the upper channel line, then retraces downward, too? Is there symmetry in the method?

I gotta learn this stuff. I want to do capital extraction. I'm thinking the odds are better than winning the lottery.

 

[nkhoi]

Quote from Joe Doaks:

Erreur numero cinq: NOT ALL TRENDS END IN FTTs.

(Yes, yes, Nkhoi, the expert practitioner ....

, scrambles at the BO, and gets slammed by the retrace. Who are the uber-traders here? Jackers, or the limit order traders who construct that pattern? As Alan Farley wrote: "They see you coming."

Let's not call each other expert since the future journal is only some months old and it is not even finished.
now back to 'scrambles at the BO, and gets slammed by the retrace' if you pay attention to volume and you see decreasing non dom. volume then you shouldn't have to scramble (left pic). And even if you scramble, you should be ok if you are nimble, anticipate, anticipate, anticipate is the key (right pic).

 

[mephistoII]

Hi Joe - I always strive to abstain from participating in these threads, due to the inherently fruitless endeavor they represent. But, alas, a moment of weakness has once again prevailed, and I am compelled to ask the following, good sir: What is your ultimate goal, as pertains to saving others from the perils of SCT?

I should be sleeping very well at night, knowing that another is so concerned about my financial well-being. It almost makes me feel guilty that you are so burdened with such a responsibility. If it would help, I would be glad to work with you in an effort to find a way out of this compulsion to provide such protection for your apparently beloved brethren.

Just let me know, bud ...

 

[dalaialama]

Quote from mephistoII:

Hi Joe - I always strive to abstain from participating in these threads, due to the inherently fruitless endeavor they represent. But, alas, a moment of weakness has once again prevailed, and I am compelled to ask the following, good sir: What is your ultimate goal, as pertains to saving others from the perils of SCT?

I should be sleeping very well at night, knowing that another is so concerned about my financial well-being. It almost makes me feel guilty that you are so burdened with such a responsibility. If it would help, I would be glad to work with you in an effort to find a way out of this compulsion to provide such protection for your apparently beloved brethren.

Just let me know, bud ...

One could be equally inquisitive your own motives Meph

 

[dalaialama]

Quote from callmate:

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Quote from Scientist:

When a true genius appears in the world, you may know him by this sign, that the dunces are all in confederacy against him.

~Jonathan Swift; Thoughts on Various Subjects
~The Scientist

And a true genius would have no trouble calling a live trade or posting his P/L..

Now would you like to quote someone else or are you going to start thinking for yourself and perhaps question idiotic claims like 3 times the daily range without ever having a loss?

 

[mephistoII]

Quote from dalaialama:

One could be equally inquisitive your own motives Meph

No motives here that I can think of, dillydally. Just a sincere proffer to a friend (me and ole' Joe have actually exchanged PM'd pleasantries in the past). Have a good one! ...