good lord...
700,000 shrs X $21 profit (or more than) = $14,700,000
decent trade
700,000 shrs X $21 profit (or more than) = $14,700,000
decent trade
Grob, his methods and his followers
- Thread starter bundlemaker
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OK. You appear to describe Jack's Futures Trading Methods. The blotters to which I refer primarily show profits earned by trading the Equities Methods. The Equities Blotters reside in Journal One. Additional examples by numerous other traders exist in Journal Two. With respect to Futures Trading, a few traders (most notably easyrider) posted their blotters showing remarkable success. I have only studied the Futures Methods (Jack calls these Methods SCT now) since June of this year, and consider myself a rookie with respect to understanding the entire methodology. However, I do continue to improve.
You'll receive no argument from me with respect to Jack's cryptic writing style. Speaking for myself only, I know the process wouldn't have nearly taken so long, had I been able to immediately understand the subject matter so many years ago. Many years of effort went into translating his Equities Documents into a more 'easily understood' format. Only after re-reading Jack's posts numerous times did I find an ability to understand.
In addition, I have found little use for charts posted at the end of the day with respect to the Futures Trading Methods. In other words, (for me) learning needs to take place in real-time due to the numerous changes occurring intra-bar. Many times, both volume and price bars appear quite different in real-time compared to their appearance at the close of a bar.
However, the tools within Jack's Futures Trading 'Toolbox' do work when used at the appropriate time and in the appropriate context. By example, monitoring changes in the DOM (I use NinjaTrader Ladder) when price finds itself approaching daily / weekly Pivot Price Points does provide a great deal of insight into future price direction. However, monitoring the DOM when price moves through a channel midpoint (for me at least) appears to provide no benefit to the trader - other tools take priority at this point in time.
I have traded the Hershey Equities System (or variant there of) full-time (as my only source of income) for well over two years now. I know others who do the same. I cannot speak specifically with respect to The Futures Trading Methods, as I do not know the participants nearly as well. A few who trade the Futures Methods perform extraordinarily well. I simply have never asked if they do so full-time.
Many who trade successfully using these methods prefer not to post on ET. They simply don't want to subject themselves to the hassle which surrounds almost every discussion involving Jack Hershey. Frankly, I can understand their viewpoint and respect their wishes to remain 'in the background' so to speak.
Hopefully, you find the above information helpful. If you require additional clarification, or if you have additional questions, feel free to send me a PM, so we don't take Praetorian's Thread further off topic. We can speak via email, IM, Skype or mobile phone - whichever you prefer.
Enjoy the weekend, and Good Trading to you all.
- Spydertrader
Having been the object of Grobs wrath recently I have to confess his personality leaves a bit to be desired. Yet like a moth drawn to the flame I find his words fascinating. Not the endless meanderings but those moments of clarity where he actually gets into the mechanics of trading. Channels make sense to me because they are trendlines. Monitoring volume certainly makes sense. I notice that FTT's occur at almost every reversal. So it seems to me that he has a pretty good grasp of how the market works. I do believe he has figured out how to swing trade the equities and that is a remarkable accomplishment and you would thing that would be enough. Not so. He feels he must also conquer the intraday futures market and claims to have done so. Those of us who daytrade the futures find his claims a bit hard to believe. People have asked him for the last couple of years to post trade sheets to prove his claims. I know it is easy to alter graphics these day but I dont believe he would do so and I for one would believe a simple snapshot of the IB execution sheet for a couple of days running showing the 20-40 actions he says he does. I would then become a champion in his defense and I hope others would also feel this way.
p.s. You might ask: "why bother?". Well I happen to think that trying to catch every twist and turn of the market is not the way to go and a lot of people are spending a lot of time chasing this idea. If he truly wants to help then he should prove that it works.
p.s. You might ask: "why bother?". Well I happen to think that trying to catch every twist and turn of the market is not the way to go and a lot of people are spending a lot of time chasing this idea. If he truly wants to help then he should prove that it works.
Bearbelly,
I too am a believer but could also use the encouragement and inspiration of seeing a p&l of even one day. It takes on an almost religious vibe when you are asked to rely on faith rather than something tangible you can see.
On the other hand, Jack has really nothing to gain other than paying it forward by posting his methods. Why would someone spend literally thousands of hours posting about this if it had no merit? I am going to give him the benefit of the doubt.
Traveler
I too am a believer but could also use the encouragement and inspiration of seeing a p&l of even one day. It takes on an almost religious vibe when you are asked to rely on faith rather than something tangible you can see.
On the other hand, Jack has really nothing to gain other than paying it forward by posting his methods. Why would someone spend literally thousands of hours posting about this if it had no merit? I am going to give him the benefit of the doubt.
Traveler
Keep working hard and it will come. Jack has my deepest respect for his determination to pass it forward even in the face of consistent ridicule(8+ yrs) from wannabees. He is a different character than most to say the least.
The real deal? FOR SURE!
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