Jack Hershey?

Mr. Neck, my thanks for your civility. Regarding bracket entries, I have no clue as I never use them. My back testing of breakouts suggests that no bracket is reliably profitable, as of course it can't be, or everyone would get rich using it. And we can't have that. Continuing on to "always on the right side of the market," I think Mr. Hershey is admirable for appearing to be egoless in that determination. All is ruled by the P-V relation and bracketed breakouts. I am ignoring for the moment his belief that INDU leads ES. My understanding of his approach matches yours in the area of stops and risk management. These are inherent in the conventional wisdom which he eschews. Truly I do wish I could ignore them in my own trading. But then I would in short order blow out my modestly-funded account, since I don't use Mr. Hershey's method. How does he do it? Again we are back to the primacy of the P-V relation and its efficacy on all time frames intraday. My best advice to you is to code it up and chart it yourself. It is a relatively simple exercise, at least on a bar-by-bar basis, as the rules are quite clear. Do so and you will see what I have seen.
 
Actually P/V ALWAYS works, the trick is understanding how to contextualize the relationship so that consistent application leads to tremendous results.

Quote from Redneck trader:




Bracketed orders work – until they don’t… as does P/V


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FS,

Thank You

I always appreciate our conservations as well


I have mocked it up (primarily because another member who I respect did so and found value – he even created an indicator and posted a chart or two)


So I am on the record for saying – that about which hersey speaks about has merit.

But I am also on the record for saying he is obtuse, obscure, full of shit, egotistical, and not logical.



btw.. Also for the record – I do not use bracket orders – for the very reasons you’ve stated



Regards and Merry Christmas to You and Your Family if we don’t speak before then

RN
 
Mr. Raskolnikov, be careful about falling into the trap of absolutes. If you go down in time scale to the tick level on an index future, the P-V relation is anything but obvious. In that murky world of volume causality or the lack thereof, especially regarding the color of the volume, you see a lot of phenomena that argue for the case that your P-V relation is a macroscopic phenomenon. It is very common that lots of volume pops off and nothing happens. Or that the unexpected happens. Or miniscule volume precedes a huge price move. In my opinion the shorter the time scale the dicier P-V is.
 
And a felicitous winter solstice to you, as well, Mr. Neck. Would Mr. Hershey's adherents agree with you that he is, as you wrote, "obtuse, obscure, full of shit, egotistical, and not logical?" Perhaps it does not matter.
 
Ah but Mr. Snopes, it's perhaps murky to you because you have not identified the correct sequences necessary to connect P/V into the proper context in order to make it work. Remember, what appears as random to some, may appear as opportunity to another.

That being said, PV always works so long as there is not an unexpected variable plugged into the equation that instantly alters the landscape. Terrorist events and the like. Fortunately these are few and far between but always remain a possibility :)

Quote from Fleming Snopes:

Mr. Raskolnikov, be careful about falling into the trap of absolutes. If you go down in time scale to the tick level on an index future, the P-V relation is anything but obvious. In that murky world of volume causality or the lack thereof, especially regarding the color of the volume, you see a lot of phenomena that argue for the case that your P-V relation is a macroscopic phenomenon. It is very common that lots of volume pops off and nothing happens. Or that the unexpected happens. Or miniscule volume precedes a huge price move. In my opinion the shorter the time scale the dicier P-V is.
More...
 
Quote from Fleming Snopes:

Would Mr. Hershey's adherents agree with you that he is, as you wrote, "obtuse, obscure, full of shit, egotistical, and not logical?" Perhaps it does not matter.
More...

FS

It does not for the more experienced – but what about the ones in the throws of learning this craft Sir


RN
 
In an arena where failure rates are so high, is it any wonder why some would choose to pursue an "unorthodox" approach?

By the way, Hershey is NOT the only person who believes in the PV relationship. One can come up with a proper technique through ones own experiences.
 
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