Jack Hershey methods

He did say that, I remember seeing it but can't find it... apparently more revisionist editing by mods to protect ET's crown jewel.
Quote from MandelbrotSet:

"I think its good to have a loss on the record"
***
Is it true Jack, did you really say that? :eek:

Do you realize how ... nOObish that makes you look?

Do you? :cool:
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This stuff just cracks me up, the bullshits, the snake oiling, the claims of greatness with absurdity.

If this mofo had any intentions of backing up his claims he would post live detailed calls someplace somewhere. He does not, what does this tell you ? Use your head.

In all honesty, this whole Hershey stuff is like trying to throw a dart at the board using the space shuttle launching pad.

Much too complicated, overkill and unnecessary.

It's not much the technique but the trader. The technique must be kept simple, and your job as a trader is to make sure that you don't complicate it.

Everything else is snake oil bullshit.

I've been daytrading for 9 years, In the end, the simpler the approach the better you do, period.

Not saying daytrading is easy, there is complexity, but it is inside your head, not on the charts, and your first job is to get rid of it. Pass this complexity to the charts, and you lose.

NN
 
Quote from jack hershey:

This thread is about protecting newbies from the pitfalls of trading and in particular the pitfalls a person can run into using the principles of pool extraction and some very common tools of trading.

here is what it is like to only make onepoint a day forever and add contracts from profits for 135 days. The result at the end of 135 days is a profit of 100,000 dollars. As was pointed out 100,000 dollars is not much. the table is: contracts, days, profits

1, 40, 2,000
2, 20, 2,000
4, 10, 2,000
8, 5, 2,000
16, 3, 2,400
32, 2, 3,200

Repeat @ 32 for 27 1/2 days to make the remaining 88,000 dollars.

Total days 135, total profits 100,000 dollars profit per day per comtract 1 point throughout.

As has been by some, 100,000 days do occur in each quarter where a nominal 20 to 30 contracts are traded. It is common for those who do this to remember and joke about those days. Perhaps you have not had this experience for some reasons. were I you I would check out those reasons and why you are so steadfast in keeping your orientation.
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LOL.
 
Quote from NakedNote:

This stuff just cracks me up, the bullshits, the snake oiling, the claims of greatness with absurdity.

If this mofo had any intentions of backing up his claims he would post live detailed calls someplace somewhere. He does not, what does this tell you ? Use your head.

In all honesty, this whole Hershey stuff is like trying to throw a dart at the board using the space shuttle launching pad.

Much too complicated, overkill and unnecessary.

It's not much the technique but the trader. The technique must be kept simple, and your job as a trader is to make sure that you don't complicate it.

Everything else is snake oil bullshit.

I've been daytrading for 9 years, In the end, the simpler the approach the better you do, period.

Not saying daytrading is easy, there is complexity, but it is inside your head, not on the charts, and your first job is to get rid of it. Pass this complexity to the charts, and you lose.

NN
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Dayum!

... you just hit the nail on the head with a bullseye stroke.

Nice to hear the real deal post around here every once and a while ... lets me know the place still has some value. :cool:
 
maybe jack doesn't know how to post a live call on ET

let me help him

Jack this is how you do it

ON MON we go DOWN

this is my real live call, on Mon market goes down

BTW jack, when posting a live call, it has to be before it happens or just before it happens

its important to remember that :D
 
Quote from MandelbrotSet:



... you just hit the nail on the head with a bullseye stroke.
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Your reasoning clearly indicates a developmentally immature cognitive template.
 
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