Jack Hershey's Books

Quote from jack hershey:

Trend channels are easy to do. they are explained all over the place by now.

Here you get to see what's ahead. you will see that your stop log gives you a discrete set of points along the right line. Viola!! we have reinforcement here.

bollinger move over. You can put in C&R time ticks too so you know when they are coming up.

as in pgysics thing tend to continue as is until something new enter to change the venue. the channel tells you where the boundaries are of the playing field and the pace is told to you by C&R frequency and the stop log chugs along really demanding your steady monitoring. This is priceless almost.
More...

Jack...I have some questions.....what is a C&R ?
I use "flabby" bollingers set wider than usual.
I also draw lines to indicate the high and low of the last session intersected by the 50% line to set the average. Is this close to what you mean? Thanks. Cathy
 
Quote from jack hershey:

Wash trades happen before you get to protection provided by stops. A person exits using four ranked priorities: 1. to maximize profits. 2. To reverse into a starting trend in order to be on the correct tack. Tack is a sailing word; check it out if you are unfamiliar with it: they are done into and with the wind so expect some cunfusion at first. 3. to not have a loss but breakeven when your intention is not being fulfilled. 4. Being stopped out by not managing things appropriately. When a stop takes you out, it happens because you are asleep at the switch.

Stop logs are lists of potential stops. They are important as a learning tool with respect to price formations. All movement and all non movement is a result of the active decisions and actions of buyers and sellers as pairs. These things bunch. Groups of trades happen in clusters rather than a constant streaming of variation. The P,V relation describes this and all price groupings provide formations. You can look at bars, cnadlesticks, renko, three line break, kagi, etc. Any way you see values attendant to the bounds of formations. People cause these.

To start learn to list. To determine which value to use do tow things. Write out a C&R list of times for action. Then as you determine the pace of the market (Use slow, medium and fast to start) keep track of he stop to be used. For slow use four entries back and circle it, for medium use three values back, for fast use two values back. Circle them so you have a value at all times on tap.

Stop logs do other things too. They are like bugs going under leaves before it rains when you are on the trail.

As the trend pace changes (lets slow it for example) you see formation sets changing. You see that the rate of additions of potential stops slows. You then see retracement of the last value to a prior value. (I erase these). You see repeated retracements and few new values, you see no new values within your C&R time spacing.

Your weasel ears prick up; this is no tripe!!!! Actually you are witnessing the end of a trend using your stop log.

What happens is that the price is going to run into your stop. Well do the weasel rock, get out ahead of the stop for more profits, slalom into the congestion. and find poiint 1 of the next trend.
More...

In other words, initiate a pre-emptive exit, if long, when:

1. Price makes a lower high.

2. The uptrendline is broken

3. Price drops below the last reaction high

5 cents, please.

--Db
 
Quote from bobcathy1:

I am happy to read some of the "translations" of Jack's messages.
Lost me completely in the first few posts. Makes it easy for us "simple folk":D
More...

It's easy to DIY. Just pick up Mamis's books (an absolute model of clarity). Of his three I most strongly recommend The Nature of Risk and When to Sell.

Or Reminiscences of a Stock Operator.

Or Dunnigan's One-Way Formula.

Or Sperandeo's Methods of a Wall Street Master.

All of these are so easy to understand you'll weep. And all are available at your local library or through interlibrary loan.

--Db
 
Lets have some examples here. Take a look back to the beginning to get to the present.

Use a contract margin of 3000 bucks.

Let daily profits be small 50 to 150 bucks: average of 213.453972 over 12 years.

Look back to the beginning; my intial capital was 300 bucks and I added from my paycheck.

We spent about a year to get 3000 bucks and permission to trade with our dad's signature and his account laying there in low 7 digits.

The first month we nail down 50 times 22 or about 1000 clams (weasel food)

Three months gives us a profit equal to a margin for a contract at this pace but we are doing a 100 the second month and 108.58352 the third month. It's 5,000 plus this inital 3000 and we know in two weeks wee go to two contracts.

the second quartr passes with use weasel creeping up in daily take (all this is net) per contract). At the end of six months we are sitting with a bunch of contracts rolling and we are hitting 162.465836 av per day per contract.

We project ahead to the end of the year just using present performance. Then we project 12 years out to see how it went to get to today.

Read Gary Smith to see how it then goes forawrd into the future.
 
I took mine out so I would never be in a loosing position ever again. Go for it and it helps keep your profits down a little until you learn something more sexy.
 
Quote from jack hershey:

kwicksand.
More...

LMFAO!

You DID NOT just spell "quicksand" with a "k" (and a "w"). HA HA HA That's like spelling "cat" with a "k."

Sorry, couldn't resist! :p

FRuiTY

p.s. This thread is hilarious!!!!!!!!!!!!!

p.p.s. Jack will respond to me with something like:

"you weezl. pleese put me on ignre premenantly."

LOL.....
 
Quote from jack hershey:

I took mine out so I would never be in a loosing position ever again.
More...

It is to be hoped that you would never be in a losing position, either.

--Db
 
Quote from FRuiTY PeBBLe:

[/size]
LMFAO!

You DID NOT just spell "quicksand" with a "k" (and a "w"). HA HA HA That's like spelling "cat" with a "k."

Sorry, couldn't resist! :p

FRuiTY

p.s. This thread is hilarious!!!!!!!!!!!!!

p.p.s. Jack will respond to me with something like:

"you weezl. pleese put me on ignre premenantly."

LOL.....
More...

reread some I always slip several into the stream of thought.

I was hoping to find the level required here to get any repsonse.

Congratulations.

It was good to see some alternative book references appear as well. I am avoiding a lot of flack here (flak) by getting others to come up with then in the context of the level of the people here.

You're not a weasel as will become evident to you as time passes; when you are working to get a job done, the best strategies are often not quite as apparent as you might first (to use your common term) guess. Better guesses come with time.

I'm hoping you will switch from carping to contributing. People are paying nickels for that around here. As they get a little richer you can expect greater rewards.

During the week I have to focus on making money, on weekends I can do some housekeeping.
 
You must log in or register to reply here.
Back
Top