Yes, your comment answered some questions, but it also raised a few new ones...
In short, if Jack's teachings and SCT system delivered what was suggested to the serious student, i.e.., taking home 2-3 x the daily RTH range on the e-mini S&P 500. Why ever do or study anything else? Even without compounding and trading just one single contract you'd do extremely well.
The sum of the daily ranges so far this year:
12 976.50 points
On one ES contract that's $648 825 gross.
I'll skip the math for what 2-3 times the daily range would be on say 5 or 10 contracts, but no doubt it would be a great sum.
So, the logical conclusion from my perspective is that you did not achieve the kind of success with Hershey's method as have been suggested is possible. No harm in that of course. Maybe you're operational (to use Hershey lingo), but not totally cleaning up.
I'm not a detractor by the way. I've studied a great deal of Hershey myself and find him very fascinating. Clearly he had a great deal of knowledge about the markets. I never found the time to move on to the advanced SCT stuff, i.e., the late Jack Hershey. I hope to do some day, though.
I also found some inconsistencies in his teachings, but when I've questioned it there is never a good question other than that I haven't put in the hours to understand it. Interestingly, I've discussed Hershey with another follower of him and he does at least agree with me on that part, i.e., not every claim put forth by Hershey seems to hold up. YM always leading ES, volume always leading price, etc.
Thank you.
Yes, at times I experienced what he claimed.
My consistency had more to do with my own personal psychology. I’d get cocky, stop logging and the gambler in me would attempt to wing it, other times I would succumb to greed by focusing more on reward than on risk. There are also personal relationship issues that took me off center.
Why wouldn’t I return to it after sorting personal issues?
Well, that’s a bit complicated with several different factors and a conundrum. Other markets became more interesting (btc, crypto, NFTs) where 10-1000x got me profit drunk and increased my risk appetite. I’ve met liquidated and they are no fun, also met it’s friends scammed, rugged and rekted. I dare say made a fortune and lost a fortune. Now licking my wounds from that, doing therapy and rebuilding my accounts with more emphasis on protecting capital. I have way more gambling and reckless tendencies than I was aware of.
Jack’s work gave me an experience of what is possible. In my development, understanding markets in greater detail is what inspired me to explore other markets, perspectives and tools instead of falling back on something I knew. There were questions I had that kept me exploring; so PVT -> SCT -> RDBMS -> PA -> MP -> VP -> FP.
My path led me to distill all that into simple Price Action and swing points.
Folks solely motivated by money won’t understand and think my response to you is bs.
Is it a grail? Well, it depends. I consider the grail to be something internal. To think of something external as “the grail”, misses the plot. I’m referring to the parable of transformation not the legend of the cup that captured Christ’s blood as he was stabbed while crucified.
It’s not a system that makes an accomplished trader, an experienced trader can make any system work.
As for your last questions, those are contextual. I would qualify that YM leading ES is primarily seen ”during times of change.” With Volume leading price, PRV is essential to determine how a bar builds and where the trend is in the sequence of events.
Those are general answers, more specific require an annotated chart.
Take it for what you will, I have my experience, you have yours - me reiterating what I’ve already said or arguing is simply a waste of time and just increases everyone’s ignore list.
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