JACK HERSHEY METHOD EXPOSED AS FRAUD! *Debated*

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Quote from Trader666:

P.S. Hershey's concept on the last page of the paper of buying the "0 to 7 turn" and selling at the "4 to 3 turn" is broken because exits are few and far between so I tested this exiting after 1,2,3,4, and 5 days. The latter worked best but it still sucked.

It seemed that there were several cases being coded into that portion, and it reads like this to me:
{Scoring Function}
function calcPVADScore() : integer;
begin
var Score : integer = 0 ;
var BopTBSeries : integer = SMASeries( BOPSeries, 1 );

if (@#Close[BarCount - 1] > 1.01 * @#Close[BarCount - 2]) then
Score := Score + 4;

It reads if this bars close is bigger than the previous bars add 4 to the score

if (@#volume[BarCount - 1] > 1.10 * @#volume[BarCount - 2]) then
Score := Score + 2;
and if the volume on this bar is greater than 10% more than the previous volumes bar add 2
if @BopTBSeries[Barcount - 1] > 0.00 then
Score := Score + 1;
and if whatever the hell the BOP tb series on the last bar is greater than....0? What the hell does that have to do with anything, anway, add 1 to the score.
Result := Score; {this line returns the score}.

end;

var PVADScore : integer = calcPVADScore ;


They are creating a series from this. WTF is a BOPseries? It's a native WL indicator, but it doesn't look useful to me.

Whatever, I'll see if they go to use it, and I'll check the old scripts for it.
 
No slippage?

Is that because you entered/exited on the close of the bar that gave the signal like ScottD did?

If so, could you post results for entering/exiting next bar on the open, with and without slippage?

Quote from bwolinsky:

3 bucks per contract each side.
 
Quote from Trader666:

The PVAD score here:
http://wl4.wealth-lab.com/cgi-bin/WealthLab.DLL/editsystem?id=51950
is based on Jack's concept of the p,v relation in the attached paper.

I backtested it and found its performance to be poor. Then Hershey and his goons claimed it should only be applied to a prescreened "universe" of stocks, even though it says nothing about that in the paper.

Don't interpret that as "BUY HERE" It's actually a watchlist generator that when it releases signals you are supposed to add it to your watchlist, but in this case it is irrelevant then, since we already know we just want to work with SPX or ES or whatever the hell index you want.
 
No. Read the paper I attached several posts ago.
Quote from bwolinsky:

Don't interpret that as "BUY HERE" It's actually a watchlist generator that when it releases signals you are supposed to add it to your watchlist, but in this case it is irrelevant then, since we already know we just want to work with SPX or ES or whatever the hell index you want.
 
So is entering and exiting on the close of the bar that gave you the signal which was calculated using the closing price.
Quote from MandelbrotSet:

"No slippage" is impossible.

Everything has slippage ... except Jack's fantasy trades.

Those don't have any slippage. :p
 
Quote from Trader666:

No slippage?

Is that because you entered/exited on the close of the bar that gave the signal like ScottD did?

If so, could you post results for entering/exiting next bar on the open, with and without slippage?

No, I'm buying at market on the open on next tick, but I'm approximating it with 0.01 ticks exactly on the .SPX and not actually on the ES. In fact, I believe this is benefitting the backtest but gets to the point pretty quickly.
 
Quote from Trader666:

No slippage?

Is that because you entered/exited on the close of the bar that gave the signal like ScottD did?

If so, could you post results for entering/exiting next bar on the open, with and without slippage?

This also makes it obvious that he is not a real developer, and another tinkerer because once you "know the bar has closed" that bar is gone and you can't buy there, but it seems they're too stupid to realize this. You know I did post the code, and I think if you've seen easylanguage you can interpret it, except for the indicator parts.
 
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