Jack Hershey Method Since 2008
- Thread starter bwolinsky
- Start date
I can put up some chart snips to accompany my last post Jack if you wish to discuss this ok...Thanks
It can't, now that we've cleared the forest... It has been streamlined.
FYI.
Your statement sounds as if I enter a trade and later exit.
Your statement does sound like I keep track of what is going on in the market.
I hope some people can put these two statements together for you.
I may occur to you at some point that there is a specific moment where both an exit and entry happen. I have given this moment a name: reversal.
The other half of the system is the time between two reversals. I have given it a name: hold. A hold is the time between an entry and an exit.
The words "talk through what he was seeing on the chart" may have been for others in the room, a description of the reasoning for continuing to "hold".
It may be that you did not "get it" that , in trading, it is very important to always be on the correct side of the market. A reversal is the only market tool for doing this important behavioral action.
One of my better known "tells" is when I switch from my annotating mouse to my trading platform mouse. This is mostly seen by those who are in my office and sitting at my oak desk.
If I am with a trading group, then I am not in my office.
Today, the convention is to video tape the market display (a 52 inch screen connected to one of the trader's laptops) on one wall or to tape the white board. A tripod is used to hold the video camera. The designated operator is in charge of my speaking and my animation if I am in the frame. Someone else moves lights around. If someone else is the focus he or she is often seen in the frame.
I do NOT do the annotating; it is assumed that it is going to be correct and timely. Typed annotation call out the trades and occasionally the printer is used to illustrate all the logs that are being done by each individual.
None of those level annotated charts have ever been posted on ET.
Probably the best idea would be to have the OP, red duke and you join the group in Tucson for about a year or so. By your observing the group do daily trading or having them coach you, you all might be able to duplicate the trading that they do presently.
In the past, almost always there were people who stayed at destination resorts and then went, daily, to one or more of the trading places that ran concurrently in Tucson. These places grew out of the meeting we used to have at a chinese buffet type restaurant. Those who attended, sub-grouped by neighborhoods to be able to share daily.
As suggested, it is known within a year or so when you were in Tucson. You must have met someone who was able to relate to you or vice versa.
If not, then maybe you could consider what value there is in watching me trade. If you figure that out, then look around your locale and see if someone else appeals to you. Your broker may have gotten to know you a little bit. Maybe he will risk introducing you to someone you might like to spend time with.
Everyone signed the baseball bat. Think of those people and try to connect to one of them. Then you can see how they are doing a number of years later.
As red duke says, no one who watches me trade is doing anything more than replying. Replying isn't enough.
The OP points out that the intraday trading system, he thinks relates to me, hasn't traded since sometime last year. Contrary to his view, there is trading everyday in Tucson by people who use the PEP and its applications PVT, SCT and SSR.
Hi Jack,
That is my point, no one that I have heard seen you or Spyder trade live even for a few days.
You spent obscene amount of time helping and explaining (it can be easily measured in months if not years of your time),
why not trade for few days live to show once and for all how SCT can work. It will undeniably give confidence boost to countless current and future traders.
Regards,
redduke
Hi redduke,
Do you have an example that you used for another method that proved to you the other method worked? I want to do my homework so I can see if there would be any problems meeting you specifications.
Another person here proved I could not do this or that and he found that I proved I could teach instead. I would like to see his proof since it may also satisfy the proof you want.
This week there were two examples of my activity with respect to other matters:
1. Getting across to someone how to complain.
2. Getting across to a moderator to keep up and be timely in his moderation.
From where I sit, I happen to have a load of recorded sessions in various recording formats. The duration of these recorded sessions is not a few days live. It is more like months passing.
In terms of monitoring and generating a position on my trading, the government was very involved for actual years. Again all they did was reply to my broker with citations of my criminal activity. From what I read of your viewpoint, this is unsatisfactory,as well. It is true, that the government was mistaken on the criminality of my activities but the performance still stands today on the record.
ET has just produced a record as well. I lived in Fairfield County. To aquaint a newbie with an opportunity, I told him where to stand to view my residence and turn 180 to view the Greenwich Tennis Club and to view my tennis court. Then I told him trading retail is a better idea than working in the financial industry.
Over 54 years, I have found that very few people can understand my trading activities. I understood fairly easily that the government experts could not. I guess the stumbling block is that I am hard to judge using a rational standard. Items 1 and 2 above prove this, at least, to me.
Someone used Wordie to find out that each of my posts contain different substantive information. Before that he had misjudged that my posts were just repetitions.
Maybe you are going to make a significant contribution to ET. If you establish a standard of some sort for allowing a wide band of observers to be told the perfomance of a method, then you will have made a significant contribution. At least one moderator could learn from your ideas.
Good luck to you on takiing on the responsibilities you have to exercise to begin to set a standard for judging performance.
What do you think it is going to cost, pragmatically speaking.
In the past, I know my brokers paid 100K's in fines when the government pursued finding out how they handled informing their "fat cat" traders who were coattailing me.
In effect, my high performance trading became considered a "supply" of insider information. When brokers passed that (non public information) on to others, these others were considered to have an "insider" advantage. There was an additional companion issue: the broker "embellished" the facts as well.
You jingoistic comment must be embarassing to you.
People do eliminate themselves from the trading domain. The nature of this denial is called consequences.
I remember once, my best post to date was deleted. How could a moderator understand this? Today this is a whole thread running on the warmup flowchart that was stolen by the very OP of this contemporary hairbrained analysis of what I didn't suggest.
Behavioral Finance has a home page article that explains the simple path to excellence. ("BF or BS")
The creme of the crop in trading do take the full offer of the market. CW doesn't come close. SW is the basis for decision making in ET. Ho Hum.
The desired miracle of pool extraction was completed years ago.
Today, it is still true that most people never ever get to see the market.