Quote from Atari:
In light of recent discussion on this thread, I thought I would make a few suggestions. As has been pointed out, there is a lot of information and concepts involved with the Jack Hershey Method, which requires significant work on the part of each trader to build the knowledge necessary to successfully implement the trading method. Spydertrader has devoted a great deal of time to laying out a path (adding his own touches and improvements along the way) that leads to consistent improvement as it provides the necessary information in manageable quantities at the appropriate time. Spydertrader and others in this thread also provide freely of their time to share specific insights and answer questions.
Everyone who has learned this method has had to do it in the same manner - by reading the journals (and other linked materials) to familiarize themselves with the concepts and build a framework for using these concepts to eventually trade. Itâs a lot to take in and inevitably we all have questions that require us to revisit certain parts of the journal from time to time. Many of us also take advantage of the ability to post our questions on the thread in hopes of receiving guidance with areas of difficulty. Many times we will get exactly what we were hoping for â an answer that immediately resolves our misunderstanding or difficulty with a certain area. However, increasingly as we progress into the more advanced concepts, we will also run into some other responses such as: âthe answer to your question will be answered further along in the journal,â âyou need to go back and read a certain area of the journal,â or a response in the form of a question that should lead you in the right direction.
Obviously these answers are not immediately satisfying, but donât assume that others are trying to keep things from you or make it harder on you. In most cases, someone has a valid reason for providing you with this type of answer and it is for your benefit they did so. Maybe you have shown a basic understanding of a certain subject, but your question reflects that you now need to really dig in and study this subject and all its implications. Another possibility is that you are asking a question where the answer depends on the context â a direct answer could lead to you applying that answer to a context where the anticipated result has changed causing you to experience frustration and doubt down the road. Regardless of the reason, make the effort to go back and study the information provided, then go look at charts to confirm what you are learning. If youâre still having trouble, you will at least be able to come back and post a more informed question and receive further guidance.
That being the case, I would recommend that anyone reading this thread bookmark posts as they progress through the journals. You will save yourself a lot of time in the future when you need to go back and review certain things. If you have not done so to this point, I encourage you to go back and start building this reference database ASAP (you can speed this process up by just reviewing Spydertraderâs posts, he will have provided his input wherever the relevant discussion was occurring on certain topics). I also think itâs a good idea to find others at a comparable level to you and work through your problem areas together â you will learn faster this way.
On more than one occasion, Spydertrader has mentioned that what the successful traders of this method have in common is that they all started from the beginning and followed the process as laid out in the journal. Even if they made mistakes and got ahead of themselves, they took the time to go back and learn everything they needed to before progressing to the next stage. There are simpler trading strategies and systems out there that will allow one to become a profitable trader, but the effort to learn this method is rewarded by a knowledge of what information the market is providing you at all times.
-A
