hmm.no edges in the markets
- Thread starter chimera
- Start date
I used the Hershey approach as a starting template for my current algorithmic project but I eliminated volume from the equation as I just couldn't get it to work for me. And then essentially added my own touches and nuances. I'm very happy with what I've come up with.
Now I have a solid system with 100s of trades worth of data. In talks with an algorithmic trading group to partner up with and get this thing off the ground. I respect those who are still actively daytrading and believe you guys are still able to do well. I do miss the days of actively trading. Really does keep your mind and reflexes sharp.
Edge and skill are two seperate things.
surf
surf
Jack Hershey's method is based on volume data only available at Fidelity Investments and they've ceased to carry .SPX which is <B><I>THE ONLY SIGNAL HIS SYSTEM IS DESIGNED TO BE USED WITH.</b></I>
In other words, Jack Hershey's method cannot be duplicated anymore because only Fidelity Investments Wealth Lab Pro had the correct volume variable. His method is not designed for ES, it is for .SPX, then you can trade any sp500 symbol.
Jack
From your writings, I'd automatically assumed you were full of hot air, likely a snake oil vendor. At best, a man who enjoys creating a veil of mystique.
But then you have quite sensible people who say they've investigated the concept, and say there's something in it.
I've probably read 60 or 70 of your posts over time.
From those long waffly posts, I've never been able to grasp what your concept is. Not once.
And ive traded/backtested a lot of concepts over the years, so I'm not exactly ignorant to complicated ideas.
Spyderman? He managed to explain a lot in 1 post.
What's that about?
From your writings, I'd automatically assumed you were full of hot air, likely a snake oil vendor. At best, a man who enjoys creating a veil of mystique.
But then you have quite sensible people who say they've investigated the concept, and say there's something in it.
I've probably read 60 or 70 of your posts over time.
From those long waffly posts, I've never been able to grasp what your concept is. Not once.
And ive traded/backtested a lot of concepts over the years, so I'm not exactly ignorant to complicated ideas.
Spyderman? He managed to explain a lot in 1 post.
What's that about?
Bwol, I just meant I used it as a starting point or template. From there I used pieces and then added a whole slew of my own precise rules. But yes, I know volume is a big part of his method and I don't use it at all.
The RDBMS demands that the ATS be defined.
It is true that I use symbols. For price I have ten symbols. They appear on one sheet and are expressed precisely in Boolean Algebra.
It is true that I use symbols. For volume I have eleven symbols. They appear on one sheet and are expressed precisely in Boolean Algebra.
I do bar by bar analysis. Volume leads price.
As each trend ends, I know before the end that it is arriving.
Three sheets define precisely all the possible ends of trends in markets. These sheets are named PP, A band and B through K band. On the sheets the ends of trends are defined precisely in Boolean Algebra.
The trading fractal I use allows me to take the full offer of the market. To do this I use pairs of EE's found on the three sheets.
the first value is the n- 1 turn the second value is the n turn. All of these combinations are found in one lookup table. This Modrian Table has eight panels whereby the pairs (n -1 and n symbols) are grouped at the top for failsafe or the bottom for routine MADA processes. The panels are divided vertically into four columns, one for each type of trend (each precisely defined.): Set A, B, C, and D.
Thus the complete system of the market operation is precisely defined and as usual in RDBMS an ATS can do the monitoring, analysis, decision Making and Action automatically.
Many people adopt parts of my PEP algoritgm or any part of its three applications.
I hope the above is clear to you. If it isn't then save it and read it every six months. Some day it may become clear to you.
Hershey's method only works on .SPX data... that doesn't exist anymore, because Fidelity quit offering this vitally important piece of unique data to his theories.
You won't produce profitable results with MACD/STOCH using Jack Hershey's method unless you have the correct symbol, which at Fidelity is the SP cash .SPX symbol. With regard to any other modifications of what the alias Scottd posted, about the only thing that I did to it was removing the exit on close.
Scottd worked tirelessly for many months walk forward testing tradestation on ES without success. From the beginning I converted his easylanguage code to Wealth Script, and found that only the .SPX symbol had the proverbial >20,000 contract condition <b>that is the <I>key</I> to profitably using his method.</b>
To summarize, if you use any symbol BUT .SPX, you will waste your time. His method is not for signals generated by ES charts.
Uhh, so what do you actually trade -- SPY, ES...? SPX is an index, not a financial instrument.
By the way, are you a partner in Prof's new business "Beacon Logic"?