Jack Hershey methods

[MandelbrotSet]

Quote from Cocaine:

I dont know if "SCT" works and I dont know that Jack Hershey even trades. I have no idea of either of those things. I personally think Jack is nuts which is why its so funny that burst and his clan go to all ends to smear him.

So you agree with the Poems I wrote saying he was insane?

Wow, I don't think the SCT crowd is going to be too happy with you now.:eek:

And seeing as how you agree that he [JH] is insane (you just said so) I think what burst is doing makes perfectly good sense.

What I do know is the synergy of these components, in the hands of an experienced trader, works. You guys can deny it to no end (which you will) but that doesnt change anything.

Seeing as how you gave a serious comment, I'll give a serious reply.

We all generously look forward to the day that you prove that SCT Works. We will be (very) happy when (anyone, you, spydertrader, jack hershey, nkohi, romanus, tums, astral, et al) any of you "traders" prove that it works.

Living in the "real world" whrere proof of something is required before we belive it, I don't think that is too much to ask ... but obviously some people do.

 

[burst]

Quote from nkhoi:

Banjo?

6602 posts and 5 years of being the SCT moderator and...

sunning himself on his yacht in the Greek Isles???

No.. still here

 

[Trader666]

Maybe you'd like to go back to school and get an education. You asked me to show where you said you trade SCT and I did. As for your bragging... according to the US Census Bureau, in 2006, 19.01% of all U.S. households had annual incomes exceeding $100,000. You claimed you were making over $100K a year back then as an individual, which would put you higher on the ladder. And since the census figures were for all income sources, you'd be even higher if measured only against traders, the vast majority of whom lose. So that's bragging. As is your false bravado here about $100K being a small sum. You're such an incredible phony.

Quote from Cocaine:

Maybe you'd like to read the last page+ of this thread.

Also "just for reference" is just that, to give the readers an idea of what is going on. Considering the thread it was an important detail. If you think 100K is alot for a trader and really a means for bragging you really are a small fish

 

[MandelbrotSet]

Quote from Trader666:

Maybe you'd like to go back to school and get an education. You asked me to show where you said you trade SCT and I did. As for your bragging... according to the US Census Bureau, in 2006, 19.01% of all U.S. households had annual incomes exceeding $100,000. You claimed you were making over $100K a year back then as an individual, which would put you higher on the ladder. And since the census figures were for all income sources, you'd be even higher if measured only against traders, the vast majority of whom lose. So that's bragging. As is your false bravado here about $100K being a small sum. You're such an incredible phony.

Yep, he talks out of both sides of his mouth (does not trade SCT, uses channnels, volume, gaussians, etc.) (JH is nuts, hangs on every word spydertrader says) (doesn't brag, is always talking about the money he makes) (wants to be taken seriously, can't trade without drinking).

What's the story going to today cocaine? hmmm

 

[jack hershey]

Quote from silvermotion:

I'm always amazed by how easy it is for someone to lose all sense of logic, common sense and rationality when you present them with dreams of making money quickly.

3x the intraday range, with no one being able to produce a profitable statement. I can guarantee you that if it was actually being done as we speak, you would have a whole thread dedicated to SCTers posting their PNL. They would not hesitate one second to do it. humans like prestige, we are hardwired to show off and brag about our successes to others.

10 years of jack hershey on the internet, and no one being able to produce a profitable statement.

The only live calls on records were done in some obscure skype conference, one time, with almost no one present.

I mean come on guys, its really getting pathetic. If you cannot show to an outsider that your method works, how do you prove/show it between yourselves?

We the detractors are not only there to laugh at you or anything. Were not just there to disrespect and bash you. We are the voice of freaking reason. Ask yourselves this. What are the top traders doing to make all that money? are they following an unproven method peddled by some charismatic people? a method that cannot be backtested, that no one can actually proves it works? its all in your mind.

I know that the feeling that you are ''working all together'' on such a tremendous and potentially profitable thing as trading is exciting, motivating, and all that. But don't let those good endorphing-producing feelings blind you from the objective. And especially don't lose your sense of reality and reason. Jack Hershey is not the first person to try to understand the markets and help people. Maybe its the first one you met however, and maybe thats why you are so attached to the man. All the big firms and funds and brokerages etc they have immensely more money means and computing power at their disposal than you do. If SCT PVR etc was working, they would all be using that. they are not.


Even the Trading geniuses and prodigies of this world, those who are routinely interviewed in fortune magazine or the financial times or the wall street journal,
The same ones running the top hedge funds today, they don't do 3x the daily range on a instrument,. because its impossible. the only way to do so is by seeing into the future. If a method like that would exist, do you seriously think it would be the exclusivity of some clowns on a Trading Forum? it would be used by larger firms, those who know what they are doing. Funny thing is they dont do that at all. Trading is a pure mathematical game, not some esoteric art that does not work real time.

I guess when you drink enough of the kool-aid, you reach a level of enlightenment where you actually see the exact point where the market will reverse.

Could you give a critique of Dave Boucher's article in the June 2008 Futures. See pages 46 through 49.

Here are a few Q's for you (in no particular order):

1. Do you think he was too conservative to just use the 50 or more swing in the Opportunity Leverage values for the days in the week (pg47)?

2. For Q 1, did he use a poor denominator for the Opportunity Leverage? Why?

3. In the searching setups, do you think his indicator (Zig-Zag David1) is too simple or too difficult for a person to use to do those trades illustrated? What are the reasons you would choose to not use it?

4. In capturing the moves David uses 200 tic bars. Obviously they cut back on the trading turns compared to the zig zag david 1 indicator. He still comes in with an Opportunity Leverage measure (You have to calc it yourself) that is above what you find to be impossible. This is true for both the trending (top of page 49) and the range bound examples (boootm of pg 49) Do you find this indicator to be within your grasp? would you rank it as coarse or medium compared to the Zig Zag David 1?

5 Do you think the Z -Z David 1 is a fone measure of turn opportunities?

6. Do you think the week before Xmas is a good week to use as an example of the weeeks that were avaialble to David? Why or why not?

Read your comments about SCT and PVT included above. I hope your answers are consistent when it comes to judging David on the NQ.

What is missing in david's article that you expect from SCT and PVT traders? Any little thing here or there? Here is another chance to suggest to newbies that they pass on reading Dave's article.


For laughs you may want to read MAR's article.

 

[Cocaine]

You just bragged how you made $1000 yesterday morning and how it was simple. You do realize that $1000 a day is 240K a year right? You're telling me you cant make 100k a year if you scalping AAPL with the ease you say you do?

Come on pal, I'm not saying 100k isnt a good deal of money to the AVERAGE person but as a trader, 100k is really not that much to be made. I specifically said in my alcohol thread experiement 2 years ago that I was stuck in a range of earnings which were not to my liking. Could I live off them confortably, yeah I could and did. But at the same time, you want to evolve as a trader, get better. I felt like I had plateaued and it was annoying me.

Bottom line is, while the sheeple think 100k is a good living, traders know better and if you arent there yet, then I can understand how irritating it must be for someone to say 100k is not a lot.

Quote from Trader666:

Maybe you'd like to go back to school and get an education. You asked me to show where you said you trade SCT and I did. As for your bragging... according to the US Census Bureau, in 2006, 19.01% of all U.S. households had annual incomes exceeding $100,000. You claimed you were making over $100K a year back then as an individual, which would put you higher on the ladder. And since the census figures were for all income sources, you'd be even higher if measured only against traders, the vast majority of whom lose. So that's bragging. As is your false bravado here about $100K being a small sum. You're such an incredible phony.

 

[Trader666]

Really? Then why do you think Jack holds the "keys to the kingdom?"

These strong detractors are angry that Jack is giving away the "keys to the kingdom" so they feel the need to spread as much bad press as they can for damage control.
http://www.elitetrader.com/vb/showthread.php?s=&postid=1391363&highlight=jack#post1391363

And then there's your posting history which contains TONS of instances where you ingratiate yourself with the Hershey crowd as you try like an eager beaver to learn Jack's "teachings." For example:

Would someone like Spyder, Mak, Procrast etc care to shed some light on the opening channel from today, and if you have a carry over channel in play, would you mind explaining that as well. Thanks guys!!
http://www.elitetrader.com/vb/showthread.php?s=&postid=1359696#post1359696

I see that you projected the YM higher based on your up channel but that R2R Gaussian is confusing to me and you saying the the color mechanism can sometimes be lopsided makes me nervous that it cannot be trusted. The YM could just have easily busted through the RTL and then it would seem the Gaussian predicted it? If you dont mind answering, what did you think when you saw the Gaussian and what convinced you that the action is was still "hold" or contination? Thanks Mak
http://www.elitetrader.com/vb/showthread.php?s=&postid=1366605#post1366605

Quote from Cocaine:

...I dont know if "SCT" works and I dont know that Jack Hershey even trades. ... I personally think Jack is nuts...

 

[Trader666]

Stop digging. You've already shown us that you're nothing but an internet poser with contradiction after contradiction and lie after lie. You've failed spectacularly to show any credibility. Take the rest of the day off.

Quote from Cocaine:

Yeah so I investigated some things. I have been trading stocks for over 8 years and had never delved into futures when I asked those questions. My approach in stocks did not involve channels nor did it involve volume so I was a rookie at futures. I am not ashamed to admit being a rookie at something, we all start somewhere.

Plus since I have already seen someone who trades using price AND volume AND channels and makes an excellent living, I figured I'd investigate a bit what SCT was about. My stock trading method is simple and I found SCT to be too complex. So what? That doesnt mean that it doesnt work or that it does work. Only that I chose to go a simpler route.

 

[jack hershey]

Do you think you could Critique David Boucher by answering the Q's?

Do you have any other Q's?

100K a year is 420 bucks a day; the dollars, contracts and points relationship is below.... LOL

420, 1, 9

210, 2, 4

140, 3, 3

102, 4, 2

84, 5, 2

42, 10, 1

Notice all the points are under the daily ATR.

You bridge with the silly MACD you use (Especially in chop where it whipsaws you). How did David get past your SPM problem with his Zig - Zag David 1 indicator? LOL

 

[MandelbrotSet]

Quote from jack hershey:

Do you think you could Critique David Boucher by answering the Q's?

Do you have any other Q's?

100K a year is 420 bucks a day; the dollars, contracts and points relationship is below.... LOL

420, 1, 9

210, 2, 4

140, 3, 3

102, 4, 2

84, 5, 2

42, 10, 1

Notice all the points are under the daily ATR.

You bridge with the silly MACD you use (Especially in chop where it whipsaws you). How did David get past your SPM problem with his Zig - Zag David 1 indicator? LOL

Post your blotter, LOL